Member Info for mrtibbles

but net income is down from $214m to $74m!
Hadn't realised the net income was down quite so much.
Lets hope there is some considerable improvements announced very soon!

US residents and citizens, who own Kinesis Velocity Tokens (KVTs), are able to start minting from Tuesday, 30th July 2019 from 00:00 EDT.

US clients who have already created a minting account will receive funding instructions via email once US minting is live.

After extensive collaboration with US counsel, the Kinesis board is satisfied and in agreement that KAU and KAG are in complete compliance with US legislation. Accordingly, we are now confident we have satisfied all criteria to prudently open minting to US citizens.

Kinesis maintains a high level of quality in all its operations, and as such needed to ensure the necessary due diligence was completed.
This is a highly positive result, one that opens up many gateways within the United States.

https://seekingalpha.com/news/3482574-u-s-china-trade-talks-restart-shanghai?ifp=0

Negotiators for the U.S. and China are facing off in Shanghai this week in another attempt to piece together a trade accord.

While there are much lowered expectations for the kind of sweeping deal that appeared within reach this spring, modest wins might be obtainable.

Those include U.S. insistence that China commit to legal changes to protect intellectual property and abandon state subsidies to business, as well as Beijing's demands that the U.S. drop all tariffs as a condition for a deal.

Data overnight showed Chinese industrial profits dropping in June after a brief gain the previous month, demonstrating the concerns created by the trade war.

Great posts everyone especially the poems !
Brought back memories of Spencer Boys School and several of the masters .
"Whammer Mash" a science master had a cupboard with six canes of different lengths and thicknesses which were numbered, he would call the offender out to the front to the class and then instruct them which number cane to to fetch, the offender would then be told to band over the desk and would usually receive 3 to 6 hard strokes dependent on the severity of their misdemeanor, I remember one lad who was up for 3 strokes from number 2 ended up getting 6 strokes with number 5 because he had stuffed an exercise book down the seat of his underpants!
"Taffy Edward' s the math's master only had one cane called "Fred ", this was kept behind the sliding blackboard, if the class became unruly then Taffy he would instruct a boy to fetch Fred out and place across the front of the master desk, this action alone was usually resulted in total submission of the class!
Chris Collins English & drama master gained a reputation for his accuracy in hitting noisy boys on the head with his blackboard cleaner (a lump of wood with felt on one side) if anyone made a noise whilst he was at the blackboard with his back to the class he would whirl around and hurl either the wooden eraser or the chalk at the perceived offender.
On on occasion a mouthy lad stood up to Chris Collins in one of the side corridors, the master picked the lad up by his jacket lapels head butted him and then deposited him out through one of the the open side corridor doors into the flower bed!
Some of the masters had served in the forces during the war and I now wonder if this had affected them mentally?
But in spite of this I agree with Rebess about being able to turn back time!

Hi, the civil service pension is somewhat better than the local government one, but still nowhere near as good as the pensions and perks that our politicians have awarded themselves over the years!
Strange though how the ordinary people have endured tax increases (VAT, IPT, Excise duty)austerity and public service cut backs for over a decade because because the government has no money and yet Boris is now able to find all this money to spend on a no deal Brexit?
Although he is recruiting 20,0000 extra police which can also be used to keep the lefties in order, reminds me of the eighties when old Thatcher used the police and army to crush the miners and the other union members !

Hi, the covil service pension is somewhat better than the local government one, but still nowhere near as good as the pensions and perks that our politicians have awarded themselves over the years!
Strange though how the ordinary people have endured tax increases (VAT, IPT, Excise duty)austerity and public service cut backs for over a decade because because the government has no money and yet

Mizolgit, I agree with mush of what you say although I don't regard a wish to remain a citizen of a strong Europe as being too radical.
I agree that I may be fortunate to have a local government pension, albeit a very modest one (which incidently I did contribute to) however I also remember where I started out from in life ,which Is why I remain committed to equal treatment and opportunity for everyone.
My Westminster MP never replies to any of my communications via email or letter, yet my MEP replies to me on every occasion.
The likes of Boris & Rees-Mogg care not a jot about the ordinary people, although they see the EU as a threat to the their dominance of the ordinary people.
Despite the claims of some that the EU just takes from the UK here is just one example of how our UK government couldn't be bothered to accept from the EU what was available to benefit the ordinary people
https://www.bbc.co.uk/news/education-49131685
Best Wishes
Tibbs

Mizolgit, we have been companions on this forum long enough to appreciate that we can't all be of the same opinion on everything all of the time, however I feel sure that we can all agree on our wish for Centamin to prosper.
Best
Tibbs

Yes, it is worrying and depressing because clown No 1 is very powerful and dangerous and his actions are already causing great damage to our planet and its inhabitants, the effects of which may well last for years to come,or may or even be irreversible.
My wife is looking into getting a German passport as her mother was born in Hanover and I believe my grandfather was of Spanish descent, so I am going to investigate if I can obtain a Spanish passport, if so then we may well move to either Germany or Spain in the case of a no deal Brexit.
Listening the the absolute rubbish being spouted by Boris is depressing enough but what really annoys me is the sheer arrogance of that odious character Jacob Rees Mogg .
They keep going on about the will of the people but what they choose to ignore is that people weren't given the true facts about our membership of the EU or the true implications of leaving it leading up to the referendum.
They also choose to forget that the e was a general election after the EU referendum and the people elected the MP's who now support either remaining or only leaving if a suitable deal is
negotiated.
https://fullfact.org/
https://live.fullfact.org/europe/vote-leave-facts-leaflet-business-opinion/

Thank you Mick,
I was unaware of this, I needed something to cheer me up now that we have Trump's poodle as our PM!

Fair comments Mr Gnome,

What we need is for the SCC either accept or reject Law 32 then at least if need the court case could resume for a ruling

Hi Siko,
The unexpected disappointments of 2018 have left some investors, certainly some long term one's to question if they were right to have such faith in the integrity and the professional capabilities of the Centamin management.
I appreciate that I have perhaps been one of the most critical of the Centamin management, possibly this is some measure of the faith I once had in them, however their unexpected announcements of 2018 Q1 really came as a shock and then their subsequent failure to communicate reassuringly with their investors afterwards amplified my dismay, anger and frustration.
So I am grateful and find some comfort in the enthusiasm shown by our friend Cowichan who has worked tirelessly finding and posting information and mining news to try and give Centamin investors some hope of better times to come.
However the events of 2018 have also demonstrated it is imperative that Centamin investors are kept as up to date as possible and fully informed of all unfolding events in Egypt that may or may not affect the Sukari concession.
Your help in providing such information ("News from the front" )as it unfolds which in many instances is unreported or inaccessible our mainstream media has proven to be invaluable on so many occasions, such as this last post.
I am sure that most of us appreciate the necessity to be informed of both sides of the story and whilst it may not be what we want to hear it is far better to hear it in order to be able to properly evaluate the situation and decide on what action if any to take,
So you were certainly right to post and thank you for doing so.
Keep Well!
Tibbs

Thank you Siko,
I think this confirms that my reservations about what difference thees new laws will make to foreign investment in Egypt and also that they will have no effect what so ever on the Centamin Sukari operation .
They are in fact more of the same , but even worse!
Like everyone else I wish you well for your trip and thank you once again for your help and this latest information.

Keep well!

Tibbs

Before someone points it out, yes these are from 2014 , however in view of the events of 2018 and our present situation they are relevant ans some m

2014 RE: June 16 (Reuters) - A legal dispute that has jeopardised Egypt-focused gold miner Centamin Plc (Toronto: CEE.TO - news) 's only producing mine is likely to be resolved before the end of this year, Chairman Josef El-Raghy said.

Centamin organised this interview – you will probably note that Centamin is now becoming more on the front foot than reactive, and this is a trend which will gather momentum throughout 2014. It is also beginning to get some response through the share price as well.

Very important for Centamin to maintain its position vis a vis the court case – it is a distraction, and yet it is the single biggest issue undermining the share price.
2014/2015
CEY have made it clear that the current phase of high-grading is purely temporary in order to make up the ground lost during the commissioning of the new plant. There is no suggestion that they will attempt to produce at this higher rate once they have caught up. The key paragraph in the 9th October 2014 RNS is: "The ramp-up in productivity from the process plant continued during the quarter, and achieved the expanded 10Mtpa nameplate capacity in September with a record 882,443 tonnes milled, in line with our expectation. Underground mining rates remain strong and ore grades have returned to expected levels. With scope for further increases in plant throughput during the coming quarters, and with average grades set to further increase in Q4, we maintain our full year production guidance and continue to look forward to delivering Sukari's long-term target of 450,000-500,000 ounces per annum from 2015 onwards." Note the use of the phrase "long-term target of 450,000-500,000 ounces per annum from 2015 onwards". That ties in with the last reported head grade of 1.37 g/t (0.048 oz/t) in Q2 which at 10 Mt milled would give 480,000 oz of gold into the plant yielding around 420,000 oz allowing for their 88% plant recovery rate. This figure should improve given the reported recovery in grade.

Hi Dasut, firstly I hope that you are well!
Really great to hear from you, your thoughts regarding the Sukari production situation are I have no doubt greatly valued by many of us on here because you have gained your in depth knowledge from actual experience at the "Pit Face" as it were within the gold mining industry.
Far too many market valuations and recommendations of many stocks (gold mining included) are to a great extent dependant on the opinions of analysts many of whom have no real life experience of the particular industry or process they are evaluating, instead they arrive at their conclusions via virtual means using sometimes unreliable or biased gathered data and the latest media/PR spin.
To be fair Kees Dekker has always stated that unless he actually visits a mine that his reports in the main are based on the information available to him at the time, this is why I thought it may be good PR to include him on one of the Sukari analysts mine visits
Also very fair comment regarding (the deemed mining and geology when Sukari was mapped.)
{My wife a freelance feature writer is of the opinion that all too often the journalist or writer is required to angle the article in such a way that it will please the publications client's or sponsors.)
I already admitted like many other investors my knowledge of the gold mining process and industry is limited and certainly from afar!
This is why the Centamin PR engagement with share holders still needs improvement, it may help to avoid so much misunderstanding which lead to bad feeling.
Yesterday I saw my old broker friend who originally recommended me to invest in Centamin more years ago than I care to remember and he believes that many brokers still regard the court case as he put it (a bit of a brick) 15%-20% on the tail of Centamin.
He said if a broker was acting in an advisory capacity to a client then they had an obligation to point out to the client that there was an unresolved outstanding court case and as with all court cases it would be wrong to assume or take for granted what the outcome would be.
Also the financial regulations and the constitutional rules of many institutional funds prevent them from investing in Centamin whilst the court case is unresolved.

Boris the next P.M.
https://seekingalpha.com/news/3480016-sterling-slips-ahead-likely-boris-coronation?ifp=0

Not strange when considering how long I have been invested in the company (far longer then many)and considering that like many other investors that I had faith what the company stated.
Why panic sell at the bottom if what they are now stating is true, actual output yet to be proven.
I agree IF the laws were changed and become more advantageous then that that would encourage more investment, big IF lets see IF it actually happens this time!
However if any changes are seen by some to give foreign companies and advantage they may well be challenged (Law 32 still in limbo) not mention the ongoing court case!
True mines do have "Hiccups " but losing 50% off the market cap because of low grade problems known about over three years ago and failing to have appropriate spares available for essential equipment is not a hiccup, it is being complacent and not being entirely open with the share holders.
True there was once a good dividend,but that has been greatly reduced and yet to be restored depending on results!
Pushme your valuation is way off as others have told you because you fail to take into account the very negative effects of the court case and also the loss of the markets confidence in the management.
i agree it may be possible to increase gold production by how ever many times but that depends on IF the laws are actually changed and then not challenged in court!
Let's see!

When I see some firm evidence of an improvement in guidance I will be delighted.
Youssef el-Raghy, chairman of Centamin?
He is the general manager of Sukari, unless of course he has replaced Josef because he has moved onto other things,
Youssef claims that Centamin is capable of increase production 20 fold?.
Although he failed to deliver the promised 560.000oz in 2018 by some considerable amount, so what is the likelihood of Youssef's latest prediction coming to fruition?
Centamin has already stared the it won't be committing any more investment in Egypt so are we to assume then that Youssefs stated 20 fold increase in output will be from other locations in Wets Africa, although Centamin claim that the results from their West African geological survey's have shown excellent potential they have yet to actually produce any-gold ore from these locations.
These new draft amendments may have been passed by cabinet which is all well and good, but then Law 32 was also passed some time e ago, but he commissioners are sill sitting on it, so will these new amendments actually come into force anytime soon or will they too get put on hold for some reason?
Buchanon PR have already stated that these new mining law amendment will not affect the Sukari concession in any way, neither will they have any bearing on the court case, It's Law 32 or a court ruling thats needed to bring the court case to a conclusion.

I agree mother nature is a fickle partner all the more reason then to mitigate production risk by ensuring that the contactors have fit for purpose contingency plans in place!

Output increased X 20?
Some claim, especially considering the ongoing grade problems in the underground excavations?
Seems a quite ridiculous statement especially when considering the events of 2018!