Member Info for mrtibbles

I really hope that you are right Tiger, at present the share price is being held up mainly by the POG, if that drops back then this may fall back to the price it was when the licence was suspended!

So why did Mark Morcombe decide to leave, a much better opportunity or was it what he discovered on the inside of the boardroom?
What is the real reason for Josef's return to the front seat he no longer wanted a couple of years ago, perhaps he wants the challenge of turning things around for the better at Centamin?
In 2014 Josef stated at an AGM that the court case would soon be over, yet here we are in 2019 and nothing has happened, will he push things along now to get the case resolved I wonder?
A court case resolution in favour of Centamin would boost the share price.
Will Josef show his commitment to Centamin and its other share holders by buying back at least 10 million shares at around half the price he sold them at couple of years ago?
A big Josef buy would really help to reassure the market and investors that this really is a proper gold mining company that intends to deliver on its promises to the share holders rather than some sort of clever pyramid scheme run for those at the top!
These are just a couple of many other questions that should be asked at the AGM.
Like Rebess I really want to be proved wrong, but at present all we get are just more promises of something better next quarter or perhaps the next or at least in couple of years if we are just patient for long enough!
I fear that we may have been fooled by that Egyptian mirage which will fade away to nothing and our hoped for golden flip flops are more likely to made of cheap plastic and cardboard! if we are lucky!

Thought you may want to sign this, stick with it though the petition keeps crashing!

'Cancel Brexit' petition passes 5m signatures on Parliament site
https://petition.parliament.uk/petitions/241584

The has always been run by robber barons https://www.bartleby.com/essay/Was-J-P-Morgan-a-Captain-of-F3NX7AX7KG4Z

Hi,Cowichan,
Whatever they decide to do at least Andrew should have the courtesy to reply to your emails!

Best

Tibbs!

Hi Tonic,
I agree that share buy backs aren't right in every case and they have been used in some instances to try and fool shareholders and the market that a company is in much better shape than it is, however when share buy backs are done for the right reasons at the right time they can be of great benefit to the company and its share holders.
Centamin does have far too many shares in circulation at present and a share buy back or several over time may help to boost market confidence and strengthen the share price.
What does need serous consideration though is because Centamin has such a vast number of shares in circulation unless a considerable amount of money is spent on buy back the overall effect may be negligible.
The board appear to have really created quite a problems here and may have also made the company vulnerable to SP manipulation by allowing the creation of far too many shares.
Josef has now returned and if he were to buy back 10 million shares at a bargain price that would demonstrate his commitment to his role and this could really help to boost the markets and share holder confidence in the company.
Although if Josef and or the other board directors aren't prepared to put some of their own cash/skin in the game then that sends out quite a different message about their belief in the company strategy and their reasons for being in it.
A share buy back now or several over a period of time may well help boost the share price, although if Josef were to buy back the 10 million or even 20 millions shares, now that would certainly help boost the share price!
So has Josef returned to nurture and restore the strength and health and future of of Centamin or to milk it some more until it collapses into a penny share pile of dust that nobody really wants to invest in,that is the the question?

Few more nails hit on the head there Rebess!

i wonder was "Hamdy" on the right track but asking the wrong questions?

Willowman, You hit some nails on the head there!

It seems to be run mainly for the benefit of the majority share holding family and the chosen ones in the boardroom, none of them want to rock the boat for obvious reasons as they are on top of the pyramid and it is a nice little earner with expenses thrown in!
In the past they have managed to to keep the "Plebs" quiet by making empty promises of lots of gold sometimes in the future and chucking a bit of divi down from the top table!

Absolutely Rebess!
Quite so, the Judge in one of the court sessions stated that their is no evidence of any corruption or wrong doing on the part of Centamin.

30 Oct 2012 Centamin are the latest in a number of companies being hauled before the courts over contracts signed with the previous Mubarak regime.
A lawyer, Hamdy Fakharany, who filed the case against Centamin claiming the returns to the government were not high enough, told Reuters:
The ruling brings back Egypt's gold back [home].
We will take an official copy of the ruling and inform the government, the mine should be closed now. This is a very positive ruling in favour of the Egyptian people.

Since then Hamdy has become a convicted felon who is now living in exile to avoid imprisonment and he has admitted that he can produce no evidence to support his claim which is based on nothing more than inaccurate innuendo

Would EMRA be in partnership and accepting 50% of the profit from a corrupt company?

Egyptian officials flag up Sukari as an example of why international mining companies should apply for new concessions and Centamin has an unresolved court case hanging over iit?

Why when there is no evidence to support the felons case against Centamin should it be necessary to wait for a ruling on Law 32, the court should b reconvened and chuck the case out

if anything Centamin should be suing Hamby for compensation for the damage his lies have caused to the reputation and value of the company, why aren't they?

Hi Market,
When I asked Buchanon on behalf of us shareholders the reason why Josef sold his 10 million plus shares they offered the explanation that this was because Josef intended to take much more of a back seat nowadays whilst he handed over to a new chairman before moving onto other projects himself.
Whether this is entirely the whole truth or not remains open to debate, indeed I have a letter to the regulator pointing out this and other share holders concerns composed but as yet unsent.
Now Josef has once again taken up the top seat would it not be an appropriate gesture and demonstration of his faith in Centamin if he were to buy back the 10 million shares at a bargain price?
I wondered how other s here would feel about me putting some of our questions together and send them on to each of the Centamin brokers in case they may care to ask some of them at the next telephone question session?

As we retail share holders emails are ignored by Centamin then this may be a way of getting some answers?

I think it is pretty apparent now why Mac was leaned on, unfortunately I suspect he was not the only regular and reliable poster on e Centamin related Egyptian issues that was persuaded to curtail their information sharing.

On the issues of the court case Law 32, etc, etc, some of you will remember Sinnerthesaint stating two or three years ago that his group were moving on to other investment projects because they were of the opinion that the outstanding legal issues would never be settled at least not in this decade!

If the outstanding court case (8years)had been taken to the International Court it would have been settled within six years!
So why are Centamain so reluctant to pursue this course of action?

Thank you Dasut for sharing your thoughts and some of your knowledge gold mining with us,
I think you must agree though that in his last post Goldgnome raises some very relevant questions and also asks some very reasonable questions that really need answering by the Centamin board?

Agreed Gnome.
Centamin seems to have been run for the convenience of the family for far too long, its about time that the family earned their keep!

Dasut, Thank you for your insight into our present situation and your thoughts, you are probably one of the most experienced and knowledgeable members of this forum certainly concerning Sukari
Like you and some others I have been in this stock over a decade and we have been through some difficult and bumpy times on our journey.
I have always supported Centamin and accepted that there were going to be some difficult times, however it isn't the guidance cuts or even the failure of the management to mitigate production risk that has infuriated me, it is the managements attitude and their complete failure to communicate with and reassure their loyal investors.
What have investor relations and Buchanon been doing since last May to reassure investors, absolutely nothing!
Virtually every RNS since last May has been of production cut backs or bad news.
Being patient is all well and good, but it seems that investors patience has been taken for granted for far too long.

Thank you for that, what pity Josef didn't into more detail, it would make a change to get a glimmer of hope!
Perhaps then they will start producing some gold ore from all these holes that they have been drilling in West Africa?

Notice how this opened over 2p up and then the trap was sprung to trigger the stop losses.
The management have lost their credibility, no one believes them any more after last years shambolic performance and the shocking disdain the management demonstrated toward it's share holders throughout the year!

Fair comments dealts, if you feel like a change have a look over on iii for advfn forums ,some on those have their rose tinted glasses on and are quite content to wait another decade at 90p with scraps for a divi whilst production is restored, if it ever is!
At least on here you get a a more honest opinion from long term holders who know when they are being fed a load of old baloney whilst the board stuff themselves with caviare!

Snouts in the trough gorging themselves whilst the share holders get thrown scraps and are told to be patient!
Josef should buy back some of the 10 million shares he off loaded before taking a back seat, that would be a good demonstration that he is seriously committed to Centamin and the share holders.
But no what does he do welcome aboard yet another geologist and no doubt he will be trying to to persuade the share holders at the AGM to approve yet more rewards for those on the top table!
We are told Dr Eyre is mining finance professional with extensive experience in global resource and mining operations?
How did Dr Eyre gain all this mining and finance experience, from college theory or actually at the sharp end and will this mean that she will be any more able than the existing team in dealing with the grade and production problems at Sukari?
Sounds like Josef may have come back to milk the fatted calf again, albeit half as fat as it once was due to the exceptional complacency, greed and incompetence of the board members who after last years events appear to be more suited be running a pyramid scheme rather than a productive gold mine!

Hi Spot, they already have eight geologists on the management team and yet they still managed to hit unexpected low ore grades in 2018, so why do they do they need to employ yet another geologist?
It is production of actual gold ore that is needed!

There are usually two dividend dates a final and an interim?

3 cents is really quite pathetic.

Spot on Rebess!