Member Info for mrtibbles

Sorry Dasut, I forgot this morning to mention you amongst those who have contributed to this board over past years.

It would be great to see gold @$1500 dollars but it will face some strong headwinds to get there, the Cartel, BIS & the the others of the establishment will want to keep it down.until its suits them.

As to Sukari resources we keep getting told how good they are which is fine , but it doesn't help the share price or the profits if they can't get the gold out and push up guidance, look at the struggle they are having now getting through the lower transitional grades.

The Cleopatra slope just seems to be taking far too long too produce anything, they keep moving the goalposts and giving new reasons for why the development is taking so long, perhaps it will never happen or turn out to be uneconomical unless there is a big rise in the POG.

As you say maybe the Egyptian regulations relating to profit share will become more of a norm, but when, how many years have they been talking about this, having yet more conferences to attract investment,then what happens some in the parliament raise objections to whatever has been proposed, then if they eventually pass the new legislation a group of whichever commissions or members of the judiciary will come up with fifty pages of reasons why the new proposals are undemocratic, so they get put on hold for a decade or two.

Things could improve dramatically for the Egyptian people, if only they would accept that the system really does need to change, although sadly it is more likely that it will continue to be run on the principles of the Mad Hatters tea party.

Remember good old Sinnerthesaint he was very right about lots of things,especially about the judiciary and the likelihood of the Centamin court case going on for a very long time.

Your link is to a subscription site.
Also do you think it wise to encourage people to invest 20- 30k here?
Are you a financial advisor?

Very fair comment which I agree with entirely,
Rebess , Cowichan,CarlyWarly,Spot.Prof, Wally, Higgo,Bonker,Siko,Sparkle&Fizz,Marmot, Phil&Jane,Market ,Mizolgit, recently the Gnome and any of the old guard I haven't mentioned have contributed to and made this board one of the most informative there is on Centamin
Some new members may not be as familiar with what has happened in the past or why some of us feel so let down and angry at present, but some of them will soon move on and some may not be whom they claim to be, or are working to an agenda.

So the truth scares new investors away does it, well far better than letting them invest in ignorance of all the things they need to consider first. before laying out their money.

if you had been invested as long as some of us on here you may realise that the divel relates to issues that need addressing with some urgency in order that market confidence can be restored.

Looking forward to any good news you may have about Centamin though.

3 cents is scraps!

Unless they are held in a CFD position in which case the dividend is actually paid on the ex dividend day!
Of course if you hold a short CFD position the you have to PAY the dividend on the ex dividend day!

Cowicahn has always been a very supportive and enthusiastic Centamim investor,like others on here myself included the wishes he company to succeed.
We all appreciate and accept that mining companies go through difficult times and that any companies manegment can make genuine mistakes...
However for any public company an essential part of a the recovery and moving on process is reassuring it's share holders and the market that it's recovery strategy is credible, this is best achieved by open and honest communication. On the other hand communication lock down usually raises share holders and the markets suspicions that the company recovery plan is not credible and something is wrong.

Thank you Siko,

Why are long term investors so frustrated and angry?

They most probably wouldn't be if Centamin had communicated with them like like a world class company should.

Many investors have been patient for over a decade now.

Any idea when the commissioners are finally going to make decision on Law 32

Why the news blackout on shipments?

Why was Mr El Raghy claiming 560.000oz for 2018/19 in the Egyptian media when he surely would or should have been aware that only 3 weeks later Centamin would have to issue a production downgrade due to hitting lower than expected ore grades?

Why was'nt he aware that a critical piece production equipment (LHDR) was being run at or over it's limits
without essential spare parts being available?

He is after all the Sukari mine manager and as such would have been included in production meetings I would have thought?

I have the greatest respect for you Siko, you know that, but I am afraid some of the Centamin management haven't performed as they should have done, and that's being polite!


Great to hear from you again and I hope the trip and charity work goes well!

I was listening in on the conference call when RBC analyst (I think it was James )asked Andrew Pardey about the possibility of a 5 year forward estimates plan/statement.
I understand what James was getting at i.e. trying to underpin some certainty for investors, Andrew Pardey said they were unable to to make promises like that.
I have to agree with his answer because the management have put far too much effort in past years glossing over the transitional grade issues instead of being honest and dealing with them in good time.
The Sukari management are now running around like headless chickens and to be frank at present a 5 day forward estimate would be almost impossible as production at Sukari seems to be chaotic, in disarray or even shambolic!
RBS are right about returning spare cash to share holders,although it may offer better long term value to retail investors if it were in the form of a share buy back rather than giving a div which gives short term gain to the ETF funds and the large CFD holders who have no real commitment to the company.
I may contact RBS inform them of some of retail investors frustrations and the way the they are now treated with disdain by the Centamin management.

CORPORATE GOVERNANCE
Centamin is committed to the highest standards of corporate governance.
We have adopted a number of policies to underpin our governance systems and these are regularly reviewed.
Overall responsibility for the governance of Centamin lies with the Board and as a premium listed company on the London Stock Exchange, we are compliant with the UK Corporate Governance Code.

http://www.centamin.com/investors/corporate-governance

Rebess, perhaps we should invest in a firm like this?

"We are uniquely positioned among mid-tier gold producers to generate value for shareholders."

http://www.centamin.com/investors/shareholder-services/advisors

http://www.centamin.com/investors
Still talking about 2017, so what happened in 2018?

Rebess, I agree with you, we have seen no evidence that things have improved at Sukari.
We have seen an absolutely appalling performance in 2018 and so far this year!
Perhaps another Sukari site show will be arranged for blind analysts?
Never mind get ready for the next report of 48 pages or so of geological waffle and lot's of promises for the future production if you have a few decades to wait!

So why doesn't Mr Pardey even have to courtesy to at least acknowledge your enquiry?
There is no excuse for bad manners or a lack of courtesy to a companies share holders.

It also didn't factor in the ongoing transitional grades in the open pit, the behind schedule development of the Cleopatra slope or the limited access and other problems in the underground workings.
As mining professionals they would surely have had a pretty good idea about most of these issues prior to issuing that Q! 2018 forecast of 560,000oz for the year.
We were then told this was a "Blip" ?
When are they going to get the production problems (Blip) sorted?

Quite so,
But then Centamin has a lot of cash at the moment and look at the failures of 2018!
Remember what we were told in Q! 2018 560,000 oz by year end!
So which mining companies be relied upon to tell the truth, that is the problem!

http://www.stockmarketwire.com/company-news/CEY/Centamin

Shows how mush the last update impessed them!

So when are Centamin going to sort out the problems at Sukari?

Kees Dekker looked at this company in 2012 see his conclusion

Conclusion
Serabi is essentially a one-asset company with the other projects apart from the Palito mine early stage exploration plays. The company has never managed to generate profits, let alone positive cash flow from the mine. It went on a disastrous strategy of pursuing economies of scale at the expense of grade. When the ground conditions did not prove conducive and/or management underestimated the difficulties in selective mining, it modified the chosen mechanized method instead of reverting back to shrinkage mining.
The latest plan does incorporate shrinkage mining, but at a low production rate, which will unlikely be sufficient to carry the substantial overheads of the foreign corporate office. Moreover, the quality of the resources seems to have dropped from what it was when the mine was first brought to production.
When including realistic input parameters for dilution, operating cost and capital expenditure, the economic valuation shows that the operation will not be viable in its current planned format.
Based on the above, despite the low enterprise value of C$6.0 million, the company is not an attractive takeover target.

I agree Cowichan,

Why not email the Centamin head office with the details of this equipment for the attention of Andrew Pardy and copy in Buchanon, ask for some feed back on this.
As you point out this equipment would seem to tick all the right boxes for a cost and environmentally conscious mining company.