Member Info for mrtibbles

Correct, Rebess , It really is terribly low!

Its doubtful that they make any positive cash flow at that grade after Capex spending.

If you recall in the Seeking Alpha articles of 2016 and again in 2018 Kees Dekker maintained that the cash flow predominantly came from underground mining!

https://seekingalpha.com/article/3695246-centamin-get-out-while-going-is-good

With that in mind unless something we are unaware of has changed from the information supplied at this open pit grade profits seem to be coming exclusively from underground mining!

In view of this it must raise the the question is it really cost effective or commercially viable mining the open pit and considering the recently announced Nugrus 2023 -Maiden drill targets will open pt mining be commercially viable in those areas?

Tibbs

Hi 3Bear,

Possibly because they have gotten to used to the time scale perceptions of market traders who tend to think 24hrs is long term and so have lost touch with the reality of the time scales outside of their cocoons for any changes to take place or have any effect in the real world!

Tibbs

Fair Comments Dasut,

As you are aware it seems all too often in the past Centamin has been less popular with the market than many other miners, of course this was'nt helped by the events of 2018 which certainly shattered most of any market confidence, so likely it will take a while yet for market confidence to return in any decent measure, quite likely it's the release of results in March that may well have a more significant effect in changing market opinion and elevating the share price!

Tibbs

Agreed Daz!

M. Henderson and new member Alhamd,

Thank you both for the updates on Sukari gold production PRIOR to this RNS and for letting us know that targets were going to be met, not an easy challenge!

As I said previously to M Henderson it requires great confidence to contribute information to this forum offered with good intention from one's acquaintances and contacts because there is always the risk that if things don't quite work out then there are some who will delight in offering criticism and ridicule to you.

That said I am sure the majority of members will be grateful for the information you posted prior to this announcement and recognise your credibility and integrity.

Big respect to you both!

Tibbs

Retail sales report strengthens the Feds resolve to slower the pace of cuts

Also Thursday’s CPI (Consumer Price Index) which revealed that inflation did not cool in December, increasing by 0.3% on a seasonally adjusted basis after increasing by only 0.1% in November. Revealing that inflation increased by 3.4% year-over-year. Both reports will guide the Federal Reserve when it convenes at the end of the month.

https://www.kitco.com/news/article/2024-01-17/retail-sales-report-strengthens-feds-resolve-slower-pace-cuts

“Gold miners are historically undervalued relative to gold, a trend likely to reverse and overshoot during the forthcoming secular gold bull market,” the analysts said. “Gold miners are also historically undervalued compared to the S&P 500, presenting a unique and attractive entry point.”

2024 will catalyse a substantial upswing in gold prices for the foreseeable future,” the analysts said in the report!

With higher gold prices driving margins, the analysts noted that mining companies have healthy balance sheets. In the current environment, AuAg expects smaller and mid-cap producers to outperform the mega-cap companies.

http://tinyurl.com/2cvtv55x

(Alliance News) - Chancellor Jeremy Hunt will tell political and business leaders at the World Economic Forum that the UK is "on the up and open for business the chancellor will use his visit to champion the UK's ambition to be a science and technology superpower and pitch that the country is ripe for investment from the international business community.

https://www.lse.co.uk/news/uk-is-on-the-up-and-open-for-business-hunt-to-tell-davos-summit-o7ri548fi8d2xot.html

The green trade row dividing the Davos elite

16 January 2023

https://www.bbc.co.uk/news/business-64296229

10 things you didn't know about Davos World Economic Forum (WEF)

https://www.bbc.co.uk/news/business-46895332

Hi Henderson,

No doubt that's why Pardey and the rest of the previous Centamin management got in such a mess !

But have things really changed or are still being fed the same old baloney with a slicker presentation?

Lets see what happens tomorrow!

hi tony,

how ridiculous is this, the pundits predicted and taking in to account this is the christmas period a rise in retail sales of wait for it a whole 0.4%, but what happens retail sales up a blistering 0.6%!

what a load of horse ****!

but never mind desperate times demand desperate measures and its a greta excuse to dish out a severe spanking for the gold price!

of course the pog will recover over the next few days !

Thank you Henderson!

HI Dasut,

i have a nagging suspicion that we are still living in false hope of anything above mediocre and yet more promises of some time in the future the good times are coming , they may be for these on the top table who likely will get more free shares for basically not doing anything really apart from spinning us along with the same old rhetoric, just like our government really!

I asked an insider why the lack of any real news from Centmin and about the less than inspiring Encouraging Maiden Drill EDX results January 2024, see their answer below

I think the lack of response re Centamin is to do with the lack of a blockbuster discovery from their exploration so far. That may still happen, but clearly hasn’t as yet!

I would have thought there is nothing more they can say at this stage beyond what they issued.

Reading between the lines, they also had to come out with something positive to make sure their Egyptian stakeholder (ie the government) is aware that they are doing what they said they would be doing.

Henderson may well be better informed then we are all aware as yet!

Jeremy Hunt increased the duty on tobacco and alcohol so of course they have gone up in price, supermarkets profit margin per litre on unleaded in 2019 was 3.5p in 2024 profit margin is 10p.

Inflation falling later in the year my a(rse!

Hi Tony,

Being an election year its all about political rhetoric to justify a system that is broken, the FED is short on truth and the market doesn't care about truth as long as theirs an excuse to churn the shares!

The number two gold miner announced its preliminary full year and fourth quarter 2023 production results yesterday.

Copper dipped, too, 420 million pounds in 2023 compared to 440 million pounds in 2022. Barrick noted that both copper and gold production was within its guidance. Gold production was also up for Q4 compared to Q3.

In Q4 the average market price for gold was up, $1,971 per ounce compared to $1,726 per ounce a year ago.

Barrick Gold dropped 5% to $22.44 a share. It was a down day for the gold miners with the GDX off 3.94%.

http://tinyurl.com/2p9rp74x

Thank you M Henderson for having the courage to speak out prior to the event, that demonstrates great confidence in your statement.

Canada's B2Gold is negotiating to cede six licenses it owns to search and explore for gold in Egypt in the Eastern Desert to Canada's Lotus Gold, according to government officials who spoke with Al Sharq on condition of anonymity.

In July 2021, Bto Gold of Canada signed a contract with the Mineral Resources Authority in Egypt to inject investments estimated at $ 8 million to research and explore for الذهب gold in 6 sectors in the Eastern Desert, which it obtained in the first gold auction that took place in 2020.

One Egyptian official attributed the reason for B2 Gold waiving the licenses to its desire to focus its activity on one of the mines it recently acquired in South Africa, as well as the slow procedures for obtaining approvals for gold exploration operations in Egypt.

Egypt to launch global gold exploration bidding in the first quarter of 2024

Conditions for transfer of ownership

In March 2021, the Egyptian General Authority for Mineral Resources signed 25 contracts for gold research and exploration for 7 international companies and 4 Egyptian companies, in 75 sectors in the Eastern Desert, with investments estimated at $ 57 million.

Bidding winners include Australia's Centamin, Canadian companies Barrick Gold, Be to Gold, Lotus Gold, Red Sea Resources, Egypt's MEDAF, Al Abadi Mining, North Africa Mining, Nuba Mines, and Ibdaa for Gold.

English, Canadian and Egyptian companies won an international tender to explore for gold and minerals in Egypt's eastern desert last June in 8 regions to 4 foreign and local companies.

A government official told Al-Sharq that the two sides informed Egypt's Mineral Resources Authority of the negotiations and asked the authority to specify the legal conditions and mechanisms related to approving property transfers.

In 2019, Egypt passed a new mining law to encourage gold mining, with royalties and taxes instead of sharing production.

Canada's Aton Resources to start gold production in Egypt by 2025

Egyptians bring about 3.3 tons of gold from abroad in 6 months

Egypt withdraws a concession area to search for gold from Cyprus' SMW Gold

Egypt extends closing date for gold exploration until November

"Shalateen" aims to raise gold deliveries to the "Central Bank of Egypt" by a third

Egypt signs contracts for the commercial exploitation of gold discoveries within days

http://tinyurl.com/5n78amxh

Hi Tony,

Yes correct 438,000oz in total, although that was from a new source so I an unable to vouch for the accuracy of the figures at this stage, but happy to be wrong and hopefully it may be more if M Henderson is correct!

The demand for rhino horn is exceedingly high on the black market and is even valued more than gold.

Illegal ivory can fetch a high price on the black market and can make a quick profit if the products can be traded in high volumes. The vast majority of poaching is caused by organised crime syndicates that use high-powered technology and weaponry to track and kill many animals at once without being detected.

https://rb.gy/si58fq

Lets hope so 3bear!