Member Info for mrtibbles

Director/PDMR Share Purchase Centamin announces that Gordon Edward Haslam, Deputy Chair and Senior Independent Non-Executive Director, purchased 25,000 ordinary shares in the Company, on 14 June 2018, at a price of 117.1 pence per share. Following this purchase Gordon Edward Haslam holds 127,056 ordinary shares in the Company. I suppose this is some sort of gesture.

Quite so Tiger, "But if the cap fits, then they must wear it!" The cap certainly fits this time ,they have been complacent and asleep at the wheel by allowing their specialist contractor Baminco to have been running their drilling operation "on a wing and a prayer". (If you do something on a wing and a prayer, you do it hoping that you will succeed, although you are not prepared enough for it:) i.e...not having adequate spare parts for or any credible back up for the only LHDR which was critical to maintaining production guidance output. Perhaps even worse after issuing a Q1 report claiming that 580.000 oz would be achieved only three weeks later they issue another contradicting RNS stating that guidance would be cut to 505.000 oz due to lower grades of ore with some mention of equipment not being available The way this reduction in guidance RNS read sent out a message to the market that the ore grades were poorer than expected and oh some bit of kit wasn't available, so Sukari won't deliver the gold we thought it would. Is it any wonder the share price has been hammered, from the RNS it seems that the management cannot be relied upon , that the mine isn't as good as they have claimed, they haven't got the kit to do the job and don't know where to get it, the management are not to be relied upon or are commitment to run the business! As admitted now the lower grade ore wasn't the real problem, the ore will come good, the main problem was a failure of the LHDR that should have never happened and our management made the situation worse by not owning up to the fact and now the share share holders are paying the price! So no more trust or any praise from me for now until I see production guidances restored by increasing throughput, this year, the court cases resolved and some fresh news on real progress on the other mines they claim to be still developing in Africa.

Perhaps EMRA should check out Lord El Nagy’s credentials, or take a look at the amateurish supposed proof of entitlement to a UK peerage on the site below? Click link and scroll down to Wicklewood to find N. Elnagy http://www.manorialguild.com/page29.html Wicklewood is in Norfolk Click link below to find the map http://www.genuki.org.uk/big/eng/NFK/Wicklewood Sean Thomas Arthur Rafferty according to Company check is listed as a director of Manorial Guild Ltd which was incorporated in 2011, was dormant in 2013 and is now dissolved! these have also been sent to Centamin for their information

2 - Veritas Mining Ltd. English and follows Veritas International, based in the United Kingdom. Among the founders of the global company an English Lord of Egyptian origin. It has mining sites in Canada and Australia. And applied for one area and won, the region of Umm Rus. And its competitor to acquire this region were 3 other companies are the Spanish company Ghassan Spanish, Australian Resolute, and the Egyptian sun company. (Today, the owner of Veritas - Lord El Nagy- spoke of how fantastic the T&Cs of the tenders were, his company would complete the exploration in 3 years instead of 7,if they were fair with Egypt then Egypt would be fair with them and investors should not only think of their own benefit.. Veritas Mining ltd was only incorporated on 27th March 2017..Head office is in UK.. Directors are .. Nabil M Elnagy (Lord).. his son Nabil E Elnagy (75% of ownership).. Possibly then the company was only set up for the purpose of obtaining the gold licence? Please see the two relevant paragraphs from Lord El Nagy’s longer media statement attached- Re the Lord’s Order? The British House of Lords Lord Nabil al-Naji is fond of Egypt not only because he is a national, but he also owes her credit from birth until he arrives in London. According to him, "I owe everything to Egypt. England received me 100 percent young, educated, "Says the time came to give back to her credit. Nabil al-Naji, who won the Lord's Order in the British House of Lords in the mid-1980s, won the right to explore gold in the region of Umm al-Rous in the Eastern Desert after the announcement of the results of the global gold exploration in the Eastern Desert. Politically, economically, and security after the events since January 25 and the latest developments made Egypt not the preferred destination for capitalists and investors, until June 30, which changed this negative outlook. You should be aware that the owner and spokesman for Veritas is not a member of the UK House Of Lords and may have bought his title from a company trading as “The Manorial Guild”, this company has now ceased trading- Of course I appreciate that Mr Nabil Mohamed El Nagy may have been misled and believed that a title could just be purchased, however this is not the case and as such he would not be to take any seat in the UK House of Lords, he certainly wouldn’t be included in any debate nor consulted as he is just a commoner. Interview on Nile TV. https://www.youtube.com/watch?v=XF4jaj6tf6Q https://www.facebook.com/nabil.elnagy.3?fref=ufi&pnref=story EMRA may like to check this site as it explains what is required to be entitled to claim a genuine UK peerage - http://www.faketitles.com/ Lord of the Manor of Wicklewood? Perhaps EMRA should check out Lord El Nagy’s credentials, or take a look at the amateurish supposed proof of entitlement to a UK peerage on the site below? Click link and scroll down to

Sent: 30 August 2017 14:52 To: 'Info@emra.gov.eg' Subject: EMRA Should check the validity of Lord El Nagy's claim to be member of the UK House of Lords For the attention of the president of EMRA. Re one of the directors of Veritas Mining Nabil Mohamed El Nagy and his claimed membership of the UK House Of Lords. Dear Dr Ayman El Saie, Firstly congratulations upon your appointment as president of EMRA, Please find the information below which relates to a recent gold mining concession awarded by EMRA to “Veritas Mining” EMRA may like to check this site as it explains what is required to be entitled to claim a genuine UK peerage - http://www.faketitles.com/ I note the recent statement by below which focus on gold and the Al-Sukary mine and the benefits to Egypt that have been achieved by this type of mining agreement. EMRA's new president's comments - on gold and giving an example of the benefits of the Al-Sukary mining partnership. Wed 22:28 http://today.almasryalyoum.com/article2.aspx?ArticleID=554768&IssueID=4427 Mr Ayman El-Saay's first comments: My top priority is to pay attention the gold sector in the coming period and we are going to get the most out of it. I'm expecting the state's income from Al-Sukary to increase gradually from 1 billion to 1.5 billion then to 2 billion Egyptian Pound (that's $50m, $75m & $100m) ( Also ex-minister Mustafa El-Refaay (Industry minister between 1999-2001 and was very supportive to Centamin as during that time EMRA reported to the industry ministry), he said about sacking Mr Taema: Unfortunately it was a wrong choice from the beginning and that was confirmed as time passed by. I remember submitting my opinion in writing to the petroleum minister immediately after appointing Mr.Taema telling him he was not suitable for the job. Mineral resources development has stopped for years during his time due to his incompetence, ignorance and persecution of the good characters. I'm afraid the decision to sack him is too late. It may not be too late to cancel the “Veritas” contract as the company is headed up by a man who claims to be a member of the UK House Of Lords, but in fact he is not! Re recent “Gold Mining Concessions” awarded by EMRA, http://emra.gov.eg/UI/Lang1/TDIDataShow.aspx?ID=5257 The outcome of the auction included the awarding of the Bukari and Umm Samra districts to Resolute Egypt Limited, the Umm Al Russ region to Veritas Mining Ltd in UK, the Umm Oud and Hangla area to East Gas Company and the Dahab area to Ghassan Saban for Spanish investments. https://beta.companieshouse.gov.uk/company/10692673/officers 2 - Veritas Mining Ltd. English and follows Veritas International, based in the United Kingdom. Among the founders of the global company an English Lord of Egyptian origin. It has mining sites in Canada and Australia. And applied for one area and won, the region of Umm Rus. A

recurving them and passing them on to the EMRA president For the attention of the president of EMRA. Re one of the directors of Veritas Mining Nabil Mohamed El Nagy and his claimed membership of the UK House Of Lords. Dear Dr Ayman El Saie, Please see communication below confirming that Mohammed El Nagy is not a member of the UK House Of Lords or indeed a real lord. So it would seem that EMRA and the Egyptian media may have been misled by Mohammed El Nagy. Subject: FW: Lord Nabil El Nagy Dear Lord Bradford, Owen has passed along your follow-up query to the Clerk of the Parliaments, who has asked me to reply on his behalf. In July, following your initial enquiry with Owen, the Clerk of the Parliaments asked him to reach out to the relevant broadcaster, Nile TV, to inform them that Mr El Nagy is not a member of the House and should not be introduced as such. However, he has not received any response. It does seem that there is little that we can do, given the circumstances, other than making representations to the broadcaster, as we are unable to contact Mr El Nagy directly. The Clerk of the Parliaments has asked our Communications team to pursue this again to reinforce the message to Nile TV. Yours sincerely, Dominique Dr Dominique Gracia Private Secretary to the Clerk of the Parliaments House of Lords

"Management seems content with applauding Sukari " Quite so, but it's not so difficult to surface mine gold in Egypt, it practically jumps into your lap , the Artesian miners have been doing it illegally for decades! It's the dealing with politics and the legal system that is the hard part! Then of course the underground mining is more difficult, especially with an overworked LHDR and no replacement, now that is a problem!

Some nails hit on the head there Tiger! Especially the loss of Josef and the employment of the former COO of Acacia! Just sent your thought through with the following- Some nails hit on the head here by a fellow investor Especially the loss of Josef and the employment of the former COO of Acacia? Sadly I feel he sums up the concerns and feelings of a growing number of investors, the Centamin management board have lost far more than market cap of the company and share price, they are also rapidly losing the trust and respect of long term share holders.

The gold hasn't been “lost” – it has been scheduled into another quarter. what a pity that the market doesn't tale this into account! Nice get out for the failure of whoever is responsible though?

Quite so Tiger,I agree! This does highlight though that there wasn't enough supervision of the specialist contractor Barminco who really shroud have kept spares on site for LHDR especially as this type of plant is so rare in Egypt! As I have always maintained the RNS didn't concentrate on the main season for the stoppage, the transitional ore grades were not really an issue, the better grades were coming anyway ahead of schedule! The real issue was a seriously knackered LHDR and without proper spare back up or a stand in LHDR ! Barminco were contacted in to mitigate risk to a crucial part of the production process and yet they have failed miseraby !

.Many people will know that it is common to subcontract underground mining – in Egypt there is zero underground mining in any mineral apart from at Sukari. The amount of spares, extra rigs, etc are managed by the contractor. This has been the case for the last 8 years with no serious issues, until this one. Lesson is certainly learnt! It is wrong to suggest the gold has been “lost” – it has been scheduled into another quarter. The ore stockpiles have very little to do with the underground run of mine – all of it goes into the processing plant. The stockpiles are mainly low grade stockpiles, and almost all of this comes from the open pit – the new leach pad is indeed having some of the transitional zone material going to that pad. The processing plant is supposed to have a capacity of 11-12mtpa – it is in fact processing in excess of that and has been for a number of quarters. This is very good news for future production, particularly when displacing open pit tonnes with underground tonnes. There is no shortage of ore to go through the processing plant – the key is of course grade, and the issue with the long hole rig has shown the importance of that. The downgrade has been painful for all concerned – but production will be built up from this base. The company is generating cash, profits and dividends, with zero debt and a further 15-20 years of mine life left. Though shareholders have had some real pain from the latest issue, from a longer term perspective they have also reaped significant rewards from both capital and yield returns and can hope to do so for the next number of years as well. Sadly mining is mining – there is rarely a seamless upward trajectory and this has been a blip rather than a crash.

It's a great diversionary tactic rather than making verdict on something that might be a bit contentious! Now what court cases could they be! Insulting the judges, that is disgraceful! No you should never, ever insult the judges, kick their lazy ars(es down the road , but not insult them!

Because of the court case! https://www.sharesmagazine.co.uk/news/shares/centamin-eyes-end-of-legal-pains Gold producer Centamin (CEY) implies a new law in Egypt could result in the dismissal of a legal case questioning its right to operate the Sukari gold mine. Investors understandably like the news, sending the share price up 9.3% to 61.17p. It is very encouraging but this remains a risky stock as the legal matter is not yet concluded and political instability is still a problem. Centamin has been fighting a court case since October 2012 brought by Hamdy El Fakharany, a lawyer and former member of parliament who has had previous success with similar asset ownership challenges in the property space. He has challenged the Egyptian government over the way in which the original licences were awarded for Sukari. This Q&A from Centamin provides further details on the court case. Today's announcement highlights a new investment law which restricts third parties from challenging contractual agreements between the Egyptian government and investors. The new law appears to apply to both new and respective legal cases. Effectively that should free Centamin of the legal battles that have weighed heavily on its market valuation. While the signs look good for Centamin, hence the big share price movement today, the matter has not officially been concluded. Nonetheless, analysts remain optimistic. Stockbroker Numis says: 'While by no means certain this could well squash the legal case and remove the stone around Centamin's neck.' Goldman Sachs comments: 'The overhang on Centamin (regarding the ongoing challenge in relation to the Sukari concession agreement) has been removed. We see today's announcement as a big positive for the stock.' Westhouse Securities says: 'It is obviously positive news for the company, and reinforces our belief that the company is likely to win its appeal. However, until the challenge is removed we are retaining our 18% discount rate on the stock.' Egypt is in the middle of a presidential election campaign with the vote taking place in late May. Various gulf states want to put money into Egypt but are nervous about the political instability, hence why there is pressure on the country to have firmer legal agreements for investors. Centamin keeps having its court case delayed; it is now expected in October. Assuming that event still happens, a final decision may not be made until mid 2015. If the ruling is made in Centamin's favour, we expect a significant re-rating in the share price as the market once again returns its focus to the actual mining operations. At its peak in 2010, the shares hit 190p. While there's obviously been a reduction in the gold price since that time, production levels have significantly increased – this year the miner expects to produce 420,000 ounces of gold.

Realised now the article was June 2014! Legal process can be can be lengthy in Egypt !

posted below twice for some reason!

June 16 2014 (Reuters) - A legal dispute that has jeopardised Egypt-focused gold miner Centamin Plc’s only producing mine is likely to be resolved before the end of this year, Chairman Josef El-Raghy said. El-Raghy said he was expecting a new investor-friendly law to render void the legal case against Centamin, and betting on the new Egyptian government to revive the economy and woo investors after years of civil unrest. An Egyptian court in 2012 held that Centamin's right to operate Sukari, its flagship mine, was invalid, hearing one of several legal challenges against commercial deals reached during the rule of Hosni Mubarak, who was ousted the year before. (r.reuters.com/kyh99v) Centamin’s appeal will come up for hearing in October. “My expectation is certainly you’ll see a resolution of that case before the end of the year,” El-Raghy told Reuters in an interview. “Our expectations are that the new government does what it has already started to do ... that it continues to adhere to the agreements that have been signed with investors.” Investors spooked by the long political turmoil in Egypt and the legal threats against commercial deals will be watching the outcome of Centamin’s appeal for clues into whether the business climate in the country is improving. Egypt’s previous administration, looking to revive investment, approved a law in April that prevents third parties from challenging contracts made with the government. Investors are also counting on Abdel Fattah al-Sisi, elected Egypt’s President earlier this month, to put the country’s finances in order and attract foreign investment. El-Raghy said Centamin, which has a market value of about $1.2 billion, was open to buying more assets in Egypt. The company has so far invested $1 billion in the country.

INTERVIEW-Gold miner Centamin expects court case to be resolved before year-end Karen Rebelo June 2016 (Reuters) - A legal dispute that has jeopardised Egypt-focused gold miner Centamin Plc’s only producing mine is likely to be resolved before the end of this year, Chairman Josef El-Raghy said. El-Raghy said he was expecting a new investor-friendly law to render void the legal case against Centamin, and betting on the new Egyptian government to revive the economy and woo investors after years of civil unrest. An Egyptian court in 2012 held that Centamin's right to operate Sukari, its flagship mine, was invalid, hearing one of several legal challenges against commercial deals reached during the rule of Hosni Mubarak, who was ousted the year before. (r.reuters.com/kyh99v) Centamin’s appeal will come up for hearing in October. “My expectation is certainly you’ll see a resolution of that case before the end of the year,” El-Raghy told Reuters in an interview. “Our expectations are that the new government does what it has already started to do ... that it continues to adhere to the agreements that have been signed with investors.” Investors spooked by the long political turmoil in Egypt and the legal threats against commercial deals will be watching the outcome of Centamin’s appeal for clues into whether the business climate in the country is improving. Egypt’s previous administration, looking to revive investment, approved a law in April that prevents third parties from challenging contracts made with the government. Investors are also counting on Abdel Fattah al-Sisi, elected Egypt’s President earlier this month, to put the country’s finances in order and attract foreign investment. El-Raghy said Centamin, which has a market value of about $1.2 billion, was open to buying more assets in Egypt. The company has so far invested $1 billion in the country.

Typos below, corrected them before I sent the email off! Can't do corrections on here!

For you very fair and balanced view of the way forward! I have taken the liberty of forward opinions and suggestions to Centamain and asked for soma feedback. Coincidently your explanation that Market makers are not so important today.as 96% of all trading is programming trading. was confirmed to me this afternoon by someone in the gold trading market. The very banks that are involved in suppressing the POG are desperately hovering up as much real bullion as they can at the present before the reset which will more than likely take place over a weekend with some catastrophic results for anyone in a short position at open up on the following Monday!

Stay Short? https://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=CEY.L