Member Info for mrtibbles

I am sure that like me everyone else very much values City experience and your contributions to this board

H Wally,
I have have often wondered if you were still holding and why we hadn't heard from you for some time..
I am sorry that you have suffered the recent heath problems, but I am really relieved and glad to hear that you are on the mend now and also that you still hold Centamin!
I hope your dogs are OK and that you are able to once again enjoy your walks.
I shall be returning to North Cornwall in May as the flowers are really lovely at that time of the year and and it's still not too crowded.

Best Wishes

Tibbs

I was informed that here is a lot of feasibility work going on re solar at Sukari. The Sukari plant is somewhat bigger than the Syama plant – it processes at least 12m tonnes per annum.
Syama is under 4m tonnes per annum, so you can’t really compare them, however it is perfectly valid question and it should be asked at the results.

So right Cowichan , why aren't these counties and continents with the sun and open deserts using solarand wind for power instead of continuing to be so dependent on oil?

From what I can find out due to the closed period 2019 will be quite different to what we endured during 2018!

Mentioned this to the man o the train

"Scratching my head on this in view there is only 1 gold mine in Egypt and there is unlikely to be any more for some time in view of where the license rounds have gone!"

Agree Dasut,especially after my conversation with the man on the train!

https://www.investopedia.com/articles/economics/10/understanding-basel-3-regulations.asp

I heard from reliable source that lessons have certainly been learned at Sukari and that Centmin share holders should be feeling a lot happier as events of 2019 unfold!

Have you noticed how some of the regular past posters seem to have disappeared?

thus confirms what Andrew Maguire has been saying for some time now about the actions of central banks and the Chinese.

This all sounds very fine, but the reality is that Law 32 is still not ratified and Egypt's only legally licensed and producing gold mine Centamin is still awaiting a verdict from the the judiciary none of whom are willing to be the one who actually makes the decision in case it comes back to bite them on the bum a few years down the line!

https://www.telegraph.co.uk/investing/shares/questor-expects-central-banks-turn-qe-back-buy-gold-miner/

Hi GoldGnome,I thought this rating by Kees Dekker may be of interest to you and possibly some others on here .
Kees is happy to add any private investors to his regular reviews FOC.
a valuation of Largo Resources, a company with an operating vanadium mine in Brazil. Vanadium is a flavour-of-the-month commodity having seen a spectacular price rise in 2018, similar to lithium and cobalt. Its main purpose is an additive to steel to harden it, but lately there is also some excitement about its use in batteries.

When I embarked on this valuation I expected to conclude it rapidly, but it proved much harder than I thought. The technical reports are of very poor quality with missing information, unclear phrasing which makes one often wonder in what units the numbers are expressed, internally inconsistent information and with a production schedule that is a black box. Much time was spent playing with numbers to make sense of it all.

The conclusion of the study is that at current prices this operation is a money spinner and the company a good investment. However current prices are very high compared to historical prices and any investment should only be done when of a view the vanadium price of close to US$17/lb V2O5 can be sustained in the long run.

This valuation calculates a true cash cost of production of US$7.24/lb V2O5.

The general impression of the reviewed documentation is management that is not very competent. It has stuffed up two production ramp-ups and was only saved by the vanadium price rise. In the Management Discussion and Analysis for the quarter ending 30 September 2018 it has double deducted “Direct Mine and Mill Cost” of US$60.7 million from Revenues, first identified as such, then again as part of “Operating Cost” of US$98.1 million. This was queried in an e-mail to management, which has gone unanswered. It does not give much confidence about the people involved. Those who believe in only investing in companies with good management should take extra caution.

The report has earned its title Riding Its Luck for the above reasons.

As always, comments, criticism and compliments are welcome.

Good point, although I would guess that this is the standard disclaimer of any miner to cover their butt's, especially after what happened at Sukari last year.
I agree that the Centamin management aren't perfect by any means but they are in the main far more reliable and honest with their investors than some of the mining companies out there who build up investors hopes with future resource reserves predictions that are unrealistic.
You may find some of the articles on mining companies by kees Dekkar interesting,also if you are a private investor and you contact him you can get a free subscription to his monthly newsletter
https://www.linkedin.com/in/kees-dekker-92742410
https://seekingalpha.com/author/kees-dekker/followers

https://www.criticalinvestor.eu/analysis/other/interview-kees-dekker-freelance-mining-analyst

As I understand it getting the mine up and running to decent production levels could may take several take years or more.
But if the ore reserves reserves justify this investment then Centamiin can carry on developing this mine whilst still churning out the gold at Sukari and then then hopefully the company will have a another producing mine to keep up or increase production output in the future.

Thursday, 2/14/2019 14:13
GOLD PRICES rallied against a falling US Dollar in London on Thursday, rising back to $1310 as world stock markets slashed earlier gains and new data showed US retail sales badly missed analyst forecasts for the end of 2018.

With little sign so far of a new deal from this week's Washington trade delegation to Beijing, President Trump is considering whether to push back the 1st March deadline for re-imposing heavy trade tariffs against China by 2 months, news reports claim.

Trump's trade tariff policies cost US business $2.7bn in November alone, according to data compiled for a 'free trade' lobby groups.

Instead of the 0.2% monthly growth expected by analysts, US retail sales in December showed a 1.2% drop over the festive season, the steepest fall since the global recession of 2009.

Qualified Person and Quality Control

Information of a scientific or technical nature in this document, including but not limited to the mineral resource estimates, was compiled by Group geologists, Pierrick Couderc and Fidele Kakou, under the supervision of Group Qualified Person, Norman Baillie, Group Exploration Manager, and independent Qualified Person, Rupert Osborn of H&S Consultants Pty Ltd. A Qualified Person is as defined by the National Instrument 43-101 of the Canadian Securities Administrators.



Named Qualified Persons have verified the data disclosed, including sampling, analytical, and test data underlying the information or opinions contained in this announcement in accordance with standards appropriate to their qualifications. Each Qualified Person consents to the inclusion of the information in this document in the form and context in which it appears.



Investors should be aware that the figures stated are estimates and no assurances can be given that the stated quantities of metal will be produced.



Mineral resource estimates contained in this document are based on all available data as at 10 December 2018, in accordance with Canadian Institute of Mining, Metallurgy and Petroleum (CIM) definition standards and incorporated into National Instrument 43-101 "Standards of Disclosure for Mineral Projects" (NI-43101), at a gold cut-off grade of 0.5g/t.

Andrew Pardey, CEO commented:

"2018 saw a further increase in our investment and level of activity in CDI across our 3,472km² land holding. We have only scratched the surface of the potential of these assets, and we are maintaining an intensive campaign in 2019 to define further quality gold ounces.

Doropo continues to demonstrate the potential to be our next organic development project. Ongoing exploration and concurrent viability studies will further unlock the potential future scale of this project as we assess the economics against our internal project value creation criteria. The PEA is progressing well and we look forward to reporting the results to the market at the end of H2 2019. Delivery of a maiden reserve and further feasibility work are critical milestones for 2019, ahead of a Board decision on capital allocated for development.

The success and scale of the 2018 ABC discovery results and the reporting of the maiden Kona South resource in less than two years of active exploration, highlights the scale and quality of the Lolosso Gold Corridor and the regional generative potential of the ABC land package.

Centamin's core strategy remains on delivering returns using its highly cash generative business which not only delivers a high yield for its shareholders as per our sustainable dividend policy, but also delivering fully funded growth from our exciting exploration portfolio."

ABC Project ("ABC")

· Maiden resource estimate declared at Kona South prospect, at a 0.5 g/t gold cut-off:

o 19.6 million ore tonnes at 1.03 g/t gold in the Indicated category for 650koz of gold;

o 16.1 million ore tonnes at 0.87 g/t gold in the Inferred category for approximately 450koz of gold;

o The mineral resource area is defined from surface, along a 2.3 km strike, and remains open in all directions; and

o Detailed 3D grade modelling indicates there are high-grade plunging shoots within the 50m x 50m broad-spaced drilling.

· Excellent conversion from discovery to defined mineral resource:

o Active exploration started Q2 2017, first gold mineralisation discovered Q3 2017, delineating the Lolosso Gold Corridor ("LGC"), a gold anomaly with a 23km strike length;

o 25,000 metres drilled to date across the ABC landholding, of which 65% was focussed on the Kona South prospect;

o Average discovery cost of US$8.50 per Indicated ounce; and

o Encouraging drill intercepts returned at the Kona Central prospect; Resource upside potential with further assessment, infill drilling and 3D modelling planned during 2019.

· Preliminary metallurgical test work suggests no major metallurgical issues with high recovery rates expected from conventional CIL processing.

· A 34,000 metres drill programme is budgeted for 2019 focussing on resource development at Kona Central and Kona South, while testing the resource extension potential between the two prospects, drill testing high priority targets along the LGC in addition to airborne magnetic/radiometric surveying and geochemical sampling.



Mineral Resources

The mineral resource data presented in the tables included in this announcement, comprise a summary extract of the of the Doropo and ABC mineral resource report, using drill assay results received up to and including 10 December 2018. For comparative purposes, data for 2017 has been included for Doropo. In the instance of ABC, this is a maiden mineral resource and therefore no previous data has been provided for comparative purposes. Numbers have been rounded and therefore they may be small differences in the totals.







2018




2017



Category


Tonnage (Mt)


Grade (g/t)


Gold Content (Moz)




Tonnage (Mt)


Grade (g/t)


Gold Content (Moz)

Doropo Project


Measured














(0.5g/t cut-off)


Indicated


50


1.31


2.13




32.6


1.3


1.35



M+I


50


1.31


2.13




32.6


1.3


1.35



Inferred


19


1.3


0.8




24.8


1.2


0.90

















ABC Prospect


Measured














(0.5g/t cut-off)


Indicated


20


1.03


0.65