Member Info for mrtibbles

Siko, Thank you for popping in, keep well in your hibernation.

What a pity that the SAC or whichever of the judiciary who might make a ruling seem to have also gone into hibernation or might it be a comatose state!

https://www.bullionvault.com/gold-news/gold-price-062720193

what utter rubbish, just an excuse to manipulate thee price to create trades!

Sorry, don't know what happened, please disregard the last line ii my post to Siko, it should have been deleted but for some reason posted?
(your family wall!you and your family well)

Well holder or not, it is nice of you to pop in to see your old friends!

I am sure that everyone on here joins me in wishing you and your family well!

Also hope that your charity work is going well!

your family wall!you and your family well

Hi Dasut,
Great to hear from you!
If you recall a three year plan/look forward was asked for by James of RBC markets on the time before last telephone conference call in.
After the events of 2018 when they were unable to tell investors what the situation was likely to be to be three months ahead, I can't really see how reliable a three year forecast will be, especially in Egypt !
But the managements credibility is shot at the present as they haven't really been straight with investors or the market.
I wonder if the management are going to have something good to tell us or will it be more excuses and promises that never really materialise?

Quite so Rebess, I wonder will the three year plan be delayed for some reason?
I do hope they have some genuine good news with some evidence that they have sorted the production problems otherwise the share price will be severely punished and it may never recover, certainly not with the present management on the top table
But then whatever the management come up with can they be trusted to deliver on their promises?

Sad state of affairs really Ol Griz,

Centamin have been telling investors to be patient for well over a decade now , so investors were because they believed the manegment to be professional, capable and prudent in running the company!
Josef seemed a decent chap who spoke well when putting the company case at conferences and at the Jersey AGM!
Then Josef decided to take a back seat and sold 10 million shares, nothing wrong we were told he was just moving onto other things!
Andrew & Yousef promised 560,000 oz to investors in Q! 2018 but they didn't tell investors about the impending and ongoing low ore grades, or that the only LHDR was being run at its limits without any spares!
Then unexpectedly (for investors that is ) the Sukari mirage of prudence, under promising and over delivering suddenly faded away, the LHDR self destructed and instead of the promised 560.000 oz investors got two guidance warnings in quick succession and the value of their investment nearly halved!
In the meantime the new CEO said nothing and then sought his fortune elsewhere!
But never mind an RNS of a new find in Doropo where they are doing lots of drilling, so just be patient, again!
Investors are told that he directors really understand their frustrations, so much so it seems that they cut the investors divi and award themselves lots of free shares for their extra efforts!
So will this next report and three years plan demonstrate that the management have just been unlucky, but they have learn t lessons and have put new procedures in place to restore and safeguard future production,but above all demonstrate that they do have integrity and really do value their share holders?
I do hope so!
Who knows if things do turn out for the better then perhaps our old friend Siko will return one day?

HI Mizolgit,

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Thanks Mick!

Hi Rebess, I certainly do remember, I still have all the emails and publicity material he sent me on on behalf of his company when he was calling me every afternoon in order to go through his hard sell sales pitch to try and persuade me to open an advisory CFD account
But anyway I will contact you in the usual way!

Yes technically overbought with upside technical damage to shorts while with Fundamentals are higher.
Short term it would be helpful to back fill but dips will be bought

The above is the view of a long established professional gold trader!

Must admit I don't really understand what he means!

so the article states that gold is overbought at these prices and that a correction is due?

But isn't it the short selling of paper gold that has kept the POG artificially low for several years now.?

If production hasn't improved then how do the four directors justify their free shares awards?
Mr Pardey and Youssef El Raghy both promised 560,ooo oz last year yet only one month later had to issue two guidance cut warnings, how does that justify a bonus?
One of then has only been with the company around 12 months during which time the SP has dropped by around 50%!
Centamin stated recently that it appreciates the pain of the share holders, so much so it seems that the top table awards itself a big hand out of bonus shares!
This is the management that claims to be so prudent with share holders money!
Share holders have told to be patient for over a decade and the two court cases have been stuck in limbo for over eight years the complacency of the management and the couldn't be asked up themselves Egyptian judiciary.
Whilst little seems to be said about it the diesel fuel subsidy case could involve over $200 million!
That would make dent in the cash pile if Centamin lost the case or add a nice bonus if they won!

30/05/2019 @ 1425hrs
Hope that helps!

Buchanon PR stated to me that the 3 year forecast could be anytime in June, I assume that is 2019!

Quite so Gnome, think how much divi the directors will be getting on all the free shares they have just been given!

J.P Morgan are part of the cartel who can decide to make precious metals prices go whichever way they choose, it's all achieved by spin and paper sales, so J P. Moragn are in control of the magnets on the Casino wheel so never lose how ever bad the war or the financial crisis, its the ordinary people or private investors who take the all the risks and pay the price when thing go wrong!
Unfortunately though these big cartel member also put out "Bum steers" to fool the retail investors into taking positions just so that they can then move the market in the opposite directions, the cartel members always win!

Sorry typo should read June 20th 2019 $1379

Whist I agree that the AISC are important, however considering the oil price 2018 Average $71 compared to $71.23 May 2019 and todays price $63 .
Gpld price May 2018 $1320
Average for 2018 $1268
June 20th 2019 41379
Gold forecast 2019 https://www.kitco.com/commentaries/2019-01-25/Gold-Forecast-2019.html

So it's pretty clear that the overriding reason the the share price languishes at these levels Is because of the 2018 mess up by the Centamin management at Sukari causing two production downgrades,this coupled with a failure to communicate with their share holders and manage their communications (PR) effectively with the markets!
The Centamin manegment in less then one year have achieved a cut of 50% in the company value and lost their credibility with the markets and yet they are awarded millions of bonus share whilst the share holders get a 3% divi!
Th court case needs to be settled as this still puts off institutional investors and causes around 15% discount by some brokers on the share price

Mon 13/02/2017

The fuel subsidy dispute is still unresolved, is there any indication when a resolution might be expected?.

In the 2016 EOY financial report it is stated that the ongoing extra cost for unsubsidised diesel fuel sits at US$ 230 million ( Note 21 ).
Now that all the capex has been recovered, then is Centamin entitled to all or some rebate of the $230 million?

Mon 18/06/2018 12:38
The subsidised diesel price in Egypt was increased yesterday by 50% ( from 3.65 to 5.50 LE), but this will not affect Centamin as the company has been paying the international price since 2012 and the company currently is not benefiting from any subsidy.

Egypt aims to completely lift the subsidy according to instructions from the IMF, which means the diesel fuel case would be meaningless soon and would only apply to the arrears that Centamin had been asked to pay for the period between 2009-2012, which Centamin is challenging in court.

I agree Miziolfgit, those at the top of the 'pyramid" get the biggest rewards even when they fail to deliver what they promise!