Member Info for mrtibbles

Appointment of a Centamin board member to another company, It's generally assumed the more 'experience' gained working at multiple companies the more benefit will somehow transfer to stakeholders in he other companies.

I'm not convinced, in my view it usually results in not paying enough attention to responsibilities in any of the companies involved and misguided or divided loyalties!

Director Manara Minerals

Jun 2023 - Present · 9 mos

Riyadh, Saudi Arabia

Manara Minerals Investment Company (Manara) is a new venture between the Saudi Arabian Mining Company (Ma’aden) and the Public Investment Fund (PIF) to invest in mining assets globally and support the development of resilient global supply chains.

https://www.manaraminerals.com/Investments.html

Hi Mr Bond,

If you were referring to my post on allegations of corrupt practice on the Eygptian/ Gaza border I have posted a reply to Siko if you care to check back.

I am awaiting a reply from my MP .

Tibbs

Hi3 bear,

I'm glad that I am not alone in appreciating that it is an error not to see the relevance of such geopolitics events and the influences on the valuation of gold and indeed the future profits of the company we invest in.

But that said that from what was being said on the BBC world service though last night and the opinions expressed in today's various media this despicable event in Russia may well cause an already very serious Ukraine war to escalate into something that may well affect the world order and the survival of our planet and all ts inhabitants!

World Wars have come about from such events in the past and from what is happening now it appears that lessons from whet happened then have certainly not been learned!

Tibbs

The death of Russian opposition leader Alexei Navalny on February 16, 2024, further diminished a rapidly shrinking Russian opposition that has seen its members assassinated, sentenced to lengthy prison terms or forced into exile as Russian President Vladimir Putin makes it clear he will not tolerate challenges to his regime.

Jailed Russian opposition leader after a "pretty exhausting" 20-day transfer to a penal colony beyond the Arctic Circle. The Kremlin critic's whereabouts had been unknown for more than two weeks, but he is now in a penal colony in Russia's far north and has been visited by his lawyer, his supporters said. "Don't worry about me. I'm fine. I'm totally relieved that I've finally made it," Navalny wrote on X after arriving at the colony nicknamed "Polar Wolf". "I'm still in a good mood, as befits a Santa Claus," he said, referring to his winter clothing of sheepskin coat and fur hat and the beard he grew out during his transportation.

https://www.france24.com/en/tag/alexei-navalny/

Alexei Navalny, the fiercest foe of Russian President Vladimir Putin who crusaded against official corruption and staged massive anti-Kremlin protests, died in prison Friday, Russia’s prison agency said.

The Federal Prison Service said in a statement that Navalny felt unwell after a walk on Friday and lost consciousness. An ambulance arrived to try to rehabilitate him, but he died.

Navalny was 47.

Navalny’s spokeswoman Kira Yarmysh said on X, the platform formerly known as Twitter, that the politician’s team had no confirmation of his death so far and that his lawyer was traveling to the town where he was held.

Navalny, who was serving a 19-year sentence on charges of extremism, was moved in December from his former prison in the Vladimir region of central Russia to a “special regime” penal colony — the highest security level of prisons in Russia — above the Arctic Circle.

His allies decried the transfer to a colony in the town of Kharp, in the Yamalo-Nenets region about 1,900 kilometers (1,200 miles) northeast of Moscow, as yet another attempt to force Navalny into silence.

The remote region is notorious for long and severe winters. Kharp is about 100 kilometers (60 miles) from Vorkuta, whose coal mines were part of the Soviet gulag prison-camp system.

Navalny had been behind bars since January 2021, when he returned to Moscow after recuperating in Germany from nerve agent poisoning that he blamed on the Kremlin. Before his arrest, he campaigned against official corruption, organized major anti-Kremlin protests and ran for public office.

He had since received three prison sentences, all of which he rejected as politically motivated.

In Putin’s Russia, political opponents often faded amid factional disputes or went into exile after imprisonment, suspected poisonings or other heavy repression. But Navalny grew consistently stronger and reached the apex of the opposition through grit, bravado and an acute understanding of how social media could circumvent the Kremlin’s suffocation of independent news outlets.

He faced each setback — whether it was a physical assault or imprisonment — with an intense devotion, confronting dangers with a sardonic wit. That drove him to the bold and fateful move of returning from Germany to Russia and certain arrest.

Navalny was born in Butyn, about 40 kilometers (25 miles) outside Moscow. He received a law degree from People’s Friendship University in 1998 and did a fellowship at Yale in 2010.

He gained attention by focusing on corruption in Russia’s murky mix of politicians and businesses; one of his early moves was to buy a stake in Russian oil and gas companies to become an activist shareholder and push for transparency.

https://english.ahram.org.eg/NewsContent/2/9/517849/World/International/Russia;s-prison-service-says-that-imprisoned-oppos.aspx

Commissioning of new underground drill rig at Sukari

https://www.linkedin.com/posts/mahmoud-raslan-671a3a135_undergroundmining-sukari-centaminabregypt-ugcPost-7160582553094008835-NSUo

Hi 3bear,

To get back the cost of linking up to the grid over a year is dependant on a reliable supply and the frequency and duration of running the Sukari generators to cover.

So the Sukari generators will still have to be maintained in readiness with a readily available supply of diesel

Renewable energy is critical for attaining long-term development. The Egyptian government, in collaboration with the business sector, is making significant strides toward the expansion of renewable energy production. This research includes a review of these initiatives, as well as information on renewable energy projects in Egypt and their share of the overall output.

https://www.sciencedirect.com/science/article/pii/S2352484722012446

Egypt electricity production up by 30,000 MW in 6 years: Ministry spokesperson

Nada Nader,

Egypt’s electricity production has increased by over 30,000 megawatts (MW) in six years, an unprecedented leap towards achieving surplus levels, Ministry of Electricity and Renewable Energy spokesperson https://www.lse.co.uk/ShareChat.html?ShareTicker=CEY&share=Centamin-PLC&thread=211C4305-0C7F-4FE4-B92F-9A02C4F31A1D&reply=true

Both of these Eygptian government announcements are pertinent to the upcoming grid hook-up at Sukari as one refers to the load shedding power cuts continuing in 2024 and the other in regards to the cost increase to consumers!

The Egyptian government began the plan to increase the prices of new electricity strips today, Tuesday, January 2, 2024, after postponing it for three consecutive times since July 2022, as it includes increasing the prices of the first four segments, by rates ranging between 16% and 26%

https://www.elbalad.news/6060307

https://www.elbalad.news/6085255

Hi Mr Bond,

You hit the golden nails on the head there!

Hi Siko,

Firstly I am no supporter of PM Rishi Sunak or the majority of his parties foreign policies , or their UK policies come to that!

Just to reassure you I am not trying to discredit Eygpt or anyone else, unless of course it is justfiable to do so, which is why I am trying to ascertain if there is any truth in the allegations made in the media posts which I have provided the links to.

I think what is happening in Gaza and to all the people and other living creatures trapped there is appalling and that the NGO's and aid agencies should have unfettered access and shouldn't be subject to financial exploitation by corrupt border control officials.

People charity contributions should be used to support the cause, not line the pockets of spivs and and gangsters who always seem to profit during times of conflict and suffering the world over!

As a matter of interest if you care to listen to the BBC world service there are a growing number of Israelis who are against the way the Palestinians have been treated by their Israeli government .

Yael Noy and most of the Road to Recovery volunteers have continued to drive Palestinians from the West Bank to hospitals in Israel for cancer treatment,

Yael refuses to dehumanise them, or equate them with Hamas, which is classed as a terrorist organisation in the UK and other countries.

https://www.bbc.co.uk/news/world-67592468

https://www.goodpeoplefund.org/program/road-to-recovery/

https://www.euronews.com/2024/01/13/meet-the-israeli-charity-supporting-palestinians-amid-the-gaza-war

I have written to Centamin and to Capital Drilling's representatives as a shareholder to make them aware of these allegations making them aware that I have written to my MP asking that he raise these allegations of corruption with the responsible UK government departments. (see below abridged version of my letter)

Andrew Lewer MP

House of Commons

London

SW1A 0AA

12th Feb 2024

Dear Andrew,

I would be grateful if you could ask the relevant UK government department representative if there is any truth in these allegations of the responsible Eygptian government officials being complicit in such an appalling extortion racket on the Gaza border which if true are not only the exploitation of the already suffering people of the region, but also the charities and their generous and well meaning supporters.

http://tinyurl.com/yyhextmp

http://tinyurl.com/a2euur4b

http://tinyurl.com/yeyre4r4

I look forward to your reply on this at your earliest convenience.

Yours Sincerely

My Name & contact details

Gold mining is an energy-intensive process, potentially creating significant carbon dioxide, but recycled gold has a carbon footprint that is more than 90% smaller than mined gold.

Apple (Nasdaq: AAPL), said it plans to use 100% recycled gold in its circuit boards by 2025.

“Outside of financial services, there is increasing awareness of the importance of recycled gold,” the firm said in the announcement.

“Gold can be infinitely recycled with no degradation in quality,” the firm said. “This allows investors to access gold while reducing the emissions footprint of their portfolios.”

https://www.kitco.com/news/article/2024-02-12/uk-listed-rmau-has-half-its-holdings-recycled-gold

Centamin whilst carrying out its legitimate Eygptian business operations has gained some direct experience of the corruption that exists in some facets of the Eygptian government, so I thought these allegation's of an extortion racket being operated by those with close links to the with Mahmoud Al-Sisi, the General Intelligence officer and son of the Egyptian president may be of interest.

Mohamed Hamdan Dagalo, aka Hemedi has a strong friendship with Mahmoud Al-Sisi, the General Intelligence officer and son of the Egyptian president. this has opened doors to business with the army directly, without anyone’s supervision or harassment.

The charity, which does not want to be named to avoid obstruction to its relief efforts in Gaza, spoke to Middle East Eye in outrage at having to pay what it openly describes as a bribe to a state-linked agent.

A spokesman for the charity said: “We have worked around the world in times of war, earthquakes and other disasters, but we have never been treated like this by a state who is profiteering from the dispatch of humanitarian goods. It’s draining a lot of our resources and the bribe being paid is per truck.”

The charity said the money is being paid in the form of a “management fee” to a company affiliated with the Sons of Sinai, a construction and contracting firm owned by the Sinai businessman, Ibrahim al-Organi, and part of his Organi Group.

He heads the Tarabin tribe in the Sinai desert bordering Israel and owns a company that is a joint venture with two companies owned by the GIS.

The Organi Group is alleged in media reports to be the ultimate beneficiary of a lucrative sale of “fast-track” permits for Palestinians wishing to escape from Israel's war on the Gaza Strip.

https://www.middleeastmonitor.com/20240206-ibrahim-al-organi-is-the-crossing-broker-and-friend-of-sisis-son/

The charity’s statement to MEE is the first concrete evidence of Egypt or Egyptian government-linked parties demanding a cut from the humanitarian aid going into Gaza, which already is subject to weeklong delays incurred by Israel.

Earlier this month, James Heappey, the British minister of state for the armed forces, said that over 150 tonnes of humanitarian aid delivered to Egypt by the Foreign Commonwealth and Development Office (FCDO) is waiting to be transferred into Gaza.

The humanitarian situation in Gaza is bleak. More than 26,000 Palestinians have been killed since the war broke out in October, and on Sunday, a UN expert said famine in the enclave was “inevitable”.

Last week, Middle East Eye spoke to five families from Gaza who all confirmed that they had paid fees in the thousands, mostly in US dollars or euros, to mediators who then facilitated their exit from Gaza.

https://www.middleeasteye.net/news/war-gaza-egypt-charity-intelligence-linked-firm-aid

An international charity, known for its emergency relief efforts in conflict zones, has exposed a staggering demand of $5,000 per truck

Hi J.W, without wishing to possibly appear pedantic Centamin entered the FTSE 250 index in June 2010.

British index investors are often caught in a battle between choosing the FTSE 100 or the FTSE 250. Both indexes contain top-notch UK shares listed on the London Stock Exchange. Yet their historical performance and volatility levels contrast drastically.

The FTSE 250 index contains the 101st to the 350th largest UK shares by market cap on the London Stock Exchange. It’s a relatively newer index than the FTSE 100, launched in October 1992. Despite containing 250 stocks, the diversified nature of this index hasn’t provided much immunity to stock price volatility.

The smaller size of its constituents means the index is largely made up of mid-cap and even some small-cap stocks rather than the large-cap stocks found in the FTSE 100. This makes the index prone to price fluctuations and limited dividends. So much so that the index only represents around 9% of the total value of listed UK shares.

However, the smaller size of these businesses opens the door to superior growth potential if a firm is successful. As a result, despite the increased volatility, the FTSE 250 has historically outperformed the FTSE 100.

Just like the UK’s flagship index, the FTSE 250 is weighted based on market capitalisation, with its biggest constituents having a greater influence than its smallest.

The FTSE 350 is a subset of the FTSE 100, consisting of the next 250 largest companies listed on the London Stock Exchange after the top 100. It is a market capitalisation weighted index which means that larger companies have greater influence over the value of the index due to their higher market capitalisation. The index aims to represent around 85% of UK market capitalisation and therefore provides an accurate snapshot of performance in the UK stock market.

May peace and blessingsbe upon you and your people Alhamd.

Safeya Mounir , Friday 9 Feb 2024

Said Zaghloul, a member of the Butchers Division of the Giza Chambers of Commerce, attributes the phenomenon to the current dollar shortage. Hard currency is needed to import raw materials or other inputs that go into food production, he said. Traders and producers with the means to do so sometimes resort to the black market to obtain dollars at an exchange rate that has recently hit LE75 to the dollar.

People across the country were stunned by the sharp hikes in food prices last week.

https://rb.gy/6et0cb

Tibbs

Enormous outflows of gold from the COMEX and towards global central banks, reviewing current price action and evaluating silver in the short term.

http://tinyurl.com/3amvs9yd

Are you asking which to buy or sell?

Source Thee Kings Fund 18 December 2023

Agency and the Office for Health Improvement and Disparities.

Policy, finance and performance or the NHS in a nutshell!

How has spending on the NHS changed over time?

The vast majority of public1 NHS funding comes from general taxation and National Insurance contributions (NICs). A small proportion of funding (1.0 per cent of the total Department of Health and Social Care budget in 2021/22) comes from patient charges for services such as prescriptions and dental treatment.

This excludes private income NHS public providers can earn, and Department of Health and Social Care spending on non-NHS providers.

What is the NHS budget?

Public funding for health services in England comes from the Department of Health and Social Care’s budget. The Department’s spending in 2022/23 was £181.7 billion. The vast majority of this spending (94.6 per cent, or £171.8 billion) was on day-to-day items such as staff salaries and medicines. The remainder was largely capital expenditure on long-term fixed assets such as new buildings or equipment.

Of the day-to-day spending, most (£155.1 billion in 2022/23) was allocated to NHS England for spending on health services. The remainder was allocated to central budgets of the Department of Health and Social Care and its other arms-length bodies such as the UK Health Security Agency and the Office for Health Improvement and Disparities.

Policy, finance and performance or the NHS in a nutshell

Source Thee Kings Fund 18 December 2023

How has spending on the NHS changed over time?

Since 1955/56, spending on the NHS has increased by an average of 3.6 per cent per year in real terms, but this masks substantial variation over time. As most spending on health is allocated from central government, it depends on the decisions made by the government of the day.

Looking more recently, since the Conservative party has been in power (2015/16), spending has increased by 2.8 per cent a year on average in real terms. But it is important to remember that this masks more substantial annual increases or decreases caused by additional investment during the Covid-19 pandemic.

The government’s most recent budget included planned spending to 2024/25. Between 2022/23 and 2024/25, spending on health and social care is projected to increase by an average of 0.1 per cent a year in real terms.

Where does the money go?

In 2021/22, the largest area of day-to-day spending was on staff costs, equating to 40 per cent of expenditure. Other areas of significant spending include primary care (general practice, dentistry, etc), procurement (supplies and services to deliver health care) and non-NHS health care (independent, local authority or voluntary sector providers

One in 20 patients has to wait at least four weeks to see a GP at a time when funding for family doctor services is falling, NHS figures show

.https://rb.gy/bin7fi

Agree Mr Bond, well worth a read, let's hope it happens!

https://www.kitco.com/news/article/2024-02-07/usd-gold-market-hides-massive-shift-global-demand-now-price-insensitive

Why we are doing this: We want to test if some firms constantly play a 'sorry, we're experiencing unusually high call volumes' message to put people off staying on the line. And we need your help to gather the data.

https://www.moneysavingexpert.com/report-high-call-volumes/

Thank you Alhamd for enlightening us on this news.

"May piece be upon you"

Tibbs