Member Info for mrtibbles

an animation which explains simply the big problems with our banking system and how we need to reform it - so together we can build a fairer, greener economy ASAP.https://actionnetwork.org/forms/what-do-you-think-of-our-new-video/?link_id=0&can_id=7912b55e72d6174409e36b7a8226a78d&source=email-new-video-its-the-banks-stupid&email_referrer=email_597193&email_subject=new-video-its-the-banks-stupid

I wonder if ordinary investors still got pushed through their stops whilst this was going on?

https://uk.reuters.com/article/uk-china-gold-exclusive/exclusive-china-curbs-gold-imports-as-trade-war-heats-up-idUKKCN1V41XU
LONDON/BEIJING (Reuters) - China has severely restricted imports of gold since May, bullion industry sources with direct knowledge of the matter told Reuters?

Although this is what is recorded flowing through the SGE, however, ‘Off market’ official buying is 100% going on!
Also, one has to look at the CNY price of gold, it is making all-time highs, (as it is in every other currency),acting as the perfect hedge. https://www.screencast.com/t/D8Ixt7i3

Cey went higher than that in the past as some long termer holders will remember.
As to your question I wouldn't care o put a time scale on how soon or if Cey SP will hit your target considering the many unknown factors that influence the SP ,not only within Centamin but also worldwide such as tariff wars, bond yields, Brexit, possible recession in several of the main economies, unresolved court cases, Law 32 , erratic oil prices, new Egyptian mining laws and of course the Twittering Trump!.
But at least for now the SP seems to be improving!

I have contacted Ms Carse of Centamin IR regarding Cowichans valid query, perhaps some other members would also care to contact her in order to back him up on this issue?

Centamin has confirmed that it is listed on the TSX and has been for 10 years now.

AISC includes head office and all costs associated with mining, selling, etc of the gold. Exploration costs tend to get capitalised on the balance. The answer to the quantum is $10.4m for exploration in West Africa.

Firstly, the H1 2019 cash costs of production are in-line with the Company’s 2019 budget and importantly the unit costs (per ounce) are trending towards the lower end of the FY19 guidance range with the increased forecast production in H2. Centamin is a lower half cost curve producer and remains acutely focussed on tight cost management of the bottom line. The Company has flagged that the key driver of increased absolute (US$m) costs is increased volumes. In 2019, Centamin are mining and processing more tonnes, and therefore consuming more input costs, ie fuel and reagents.
Specifically, 12% more material mined from the open pit and 6% more tonnes processed translates into more costs, but costs are within budget and guidance. And these increases in volumes resulted in increased ounces and therefore the unit costs are 9% up YoY, which still has us in the lower half cost curve.
The focus on the company is on producing the most cost efficient ounces.

The challenges of 2018 impacted production but did not impact the geological model and therefore the gold in the ground. In 2019, through improved controls, systems and skilled workforce, higher grades have been delivered across the operations, balanced with the optimal level of output, to maximise margins and produce profitable ounces.

The ongoing ambition of the Company is to maximise free cash flow generation through the production of cost effective ounces.

Hope this helps everyone

Best Wishes

Tibbs

The past 15 months have not been easy and the events of 2018 caused the market and many shareholders to doubt the Centamin management’s strategy.
However the Centamin management have stated that lessons have been learned from the events of 2018 and thus so far it seems that a turnaround at Sukari and promising progress in other areas are indeed taking place.
I do hope that the statement from Centamin and the answers to some of your recent questions will help fellow Centamin share holders to feel more appreciated and certainly more optimistic about the future.
From the company-
Centamin highly values all of its shareholders, large or small, as it understands that every stakeholder is on the same journey as themselves – whether it is in good times or bad. Though the company is now firmly a mid cap and one of the biggest gold producers listed in London, the support of small shareholders, whether it be in London or in Australia in its earlier days, has been the key to getting it into the position it is today.
Very few gold miners get the privilege of exploring, developing, and then producing from an asset, and without doubt Sukari has been a phenomenal success when compared to almost every other peer asset.
We have the added advantage that this privilege has an extended play of over 15-20 years still to come.

So Fridays gain eroded this morning so far, pushed a few through their stops no doubt!

I hope that Marmot is OK and still holding on. it would be great to hear from him again!

Hi Emkaybee,
Hope the you are well!
Great to see one of the original long termers posting again!

https://www.newsmax.com/finance/markets/goldman-gold-prices-sachs/2019/08/07/id/927693/
https://www.newsweek.com/investors-are-rushing-gold-bonds-stock-market-continue-tumbling-1453062

Perhaps we shall get some explanation to Cowichan's query from Centtamin IR?

Centamins has the support of EMRA and and the court case would most probably have been resolved by now were it not for being put on hold whilst the SCC decide to ratify or reject Law 32 , as you may be ware the SCC are being their usual awkward selves and appear to have sat on the arrogant butts for over two years on this because they can!
if Law 32 is ratified then there the court case is irrelevant.
However if the SCC reject Law 32 then we are told the court case will resume from where it left off.
The rectification of Law 32 may well encourage more external investment in Egypt,unfortunately there are those such as the SCC that oppose Law 32 because they fear any change may threaten their authority and influence in the future.
Despite what some think the unresolved court case is a brick on Centamins tail.

Excellent point Cowichan!
I will back you up on this!

Well spotted Cowiichan, although according to Siko's last post these new laws are still not not going to attract new investment in Eygpt.

Dasut,
Thank you for sharing your opinion on this, your professionally gained experience and knowledge of the gold mining industry in this region has certainly been a great education and steep learning curve for me, most probably to some other members as well, input such as yours is invaluable to our forum.

Thank you Supercharger for the explanation.
I have considered ACA in the past but I think I will just stick to Cey for the present, one outstanding court case is enough to have to consider for the time being!

I notice over on the ACA board one of the members suspects that the ACA share price is being held back, although the SP seems to have recovered remarkably well considering where it dropped to.
I wonder though if this is because of the outstanding dispute with the Tanzanian government ?

Capital Drilling
Incorporated: 19-NOV-2003
https://offshoreleaks.icij.org/nodes/82006106

Perhaps of interest, Capital Drilling forms strategic partnerships with companies, which includes drilling for equity, which it does for a range of companies. Other drill companies do the same. It may have been a good thing for Centamin at the time tohelp it get going? It also is rapidly expanding into West Africa, including Burkina Faso and Cote D Ivoire. It may of course be a coincidence that that is where Centamin is expanding, and then again it may not be.
http://www.capdrill.com/about-us/strategy

In their 2010 Ann Report "Since late January 2011 there has been some significant political upheaval in Egypt, with the fall of President Hosni Mubarak and the installation of an interim government until democratic elections are held in September this year. Itis important to clarify that operations at
Centamin Egypt’s Sukari Gold Project, which accounts for approximately 20% of Capital Drilling’s total rig fleet, were not materially impacted by the upheavals and that development, grade control and exploration drilling continues as per normal. Indeed, it is anticipated that Capital Drilling’s operations in Egypt will see further growth in 2011."

Original post by the Gnome Cey.L board