Member Info for mrtibbles

Steve,

Renumber that forum T2W, you will enjoy it I'm sure, your wasted here !

Likely most people will watch or hear about those events as they are repeated often enough via all the various media streams.

Never mind Tony,a 5% pull back is better than some and from past experience there has usually been a pull back preceding any decent upward movement!

Cheers!

Steve,

I am certainly not aware of ever claiming ownership of any forum, I have always thought this forum was owned by the host that being the LSE.

Waffling and being spiteful, I am no wish or profess to intentionally practice either.

You will likely be posting later to update those who are interested on how your days trading strategy panned out.

Have a lovely day!

The majority of CFD retail traders lose!

The FCA estimates 80 per cent of customers lose money on CFDs. Regulators first cracked down on the sale and marketing of products to retail clients three years ago.

CFDs regularly target inexperienced consumers, which is evidenced by the fact that the FCA review found that the majority (76%) of retail customers lost money and in an earlier review found the average losses totalled £2,200 per person. Worryingly in several instances, pension funds have been invested in CFDs based on the bad advice of marketing companies or financial adviser

https://lexlaw.co.uk/solicitors-london/mis-selling-complex-financial-derivatives-structured-products-fca-review-cfd/

https://www.fca.org.uk/firms/contract-for-differences

Steve,

You seem to feel the need resort to making such wrong and unsubstantiated assumptions and resorting to personally rude and unjustified spiteful comments about some other members who may want to use the forum for giving or exchanging views and information about Centamin and the mining industry over the long term.

I would suggest the you are on the wrong forum,I should have thought that T2W would be far more useful to you and you could engage with others of a like mind as your primary interest from your post's appear to be in trading in and out rather than investing in a mining stock

Your assumptions as to my knowledge of CFD trading are are incorrect to say the least, it is in my view little more than any form of gambling that is studying form with prevailing conditions and betting on the odds which usually involves involves high levels of leverage admittedly usually interest free if the position is opened and closed with the same trading period, this is one of the reasons that so many traders are in and out in such short periods, especially at week ends, although this can contribute to panic and to share price instability due to wrong assumptions about a particular stock.

As a long term investor in Centamin I have every right to express my views and indeed do so including questioning the company directly and seeking information and sharing it with potential and new investors as informed as possible

Your statement that you learned all you need to know about mining a few years ago seems rather arrogant as knowledge of any industry, especially one like mining with so many different facets is gained over many years and can never be regarded as finished, it is always work in progress and ongoing.

As Centamin investor I am grateful for all the detailed information contributed by other members on a range of subjects to the forum, especially from former mining industry professionals some of whom have in depth understanding of the development of the Sukari operation and also new recourse explorations and development

This morning the U.S. Bureau of Labour Statistics released the non-farm payroll employment report for December at 8:30 AM ET.

There was an immediate and strong knee-jerk reaction to this report’s release.

8:30am shows the increased volatility, a $20 price swing during the first 30 minutes after the report was released.

Gold futures were trading at $2046 and within the first few minutes declined by $16 trading to today’s low of $2030.

However, the price difference between the open and closing price during the first half hour was only one dollar.

https://www.kitco.com/news/article/2024-01-05/stronger-expected-us-jobs-report-results-volatile-price-swing-gold

Epiroc has partnered up with mining services company Capital Limited to field test the SmartROC D65 BE, a battery-electric surface drill rig for the mining and construction industry.

The battery-electric version of the SmartROC D65 surface drill rig will be tested at Capital Limited’s Sukari operation, in Egypt (owned by Centamin) during 2024. This mine already has a broad fleet of Epiroc drill rigs, according to the OEM, with Capital carrying out an earthmoving contract involving load, haul and associated drilling services.

Hakan Aytekin, Vice President, Epiroc Surface division, said: “This field test is an important step in our drive towards emission-free surface drill rigs. Capital Limited is always pushing the boundaries with new technologies, and that makes them an ideal partner for this field test.”

https://im-mining.com/2024/01/05/epiroc-partners-with-capital-on-smartroc-d65-battery-electric-drill-trial-at-sukari/

Hi Dasut,

I take your points about the positive updates/data on progress being made at Sukari and the reported changes of corporate policy in other area's of the business, it must be quite conundrum for the majority of traders who usually can assume assume that such data will result in a reaction of a predictable magnitude in the company stock price of the company.

But as long term holders have come to understand Centamin has always been a contrarian stock even at the best of times, but that is ever more so after the severe loss of marker confidence as a result of the forced admissions by the company and the subsequent huge cost of what may be regarded as almost a Go back to start of Sukari operations with a change of tack in relation to all external projects !

So in this situation its very much a case of we are where we until there is some proof in the pudding that being the actual delivery of the promised results!

Hi Razor's,

Absolutely the BOD should demand the return of theses bonuses,this bugger has squirmed his way out of being prosecuted far too many times in the past, in my view these type of obscene bonuses should never be award anyway, these CEO's are paid over and above what may be regarded as overly generous salaries for doing a job which they should do the the best of their ability, if that's not enough then let the buggers go elsewhere!

In China, XCMG’s collaborative project with CRRC, Weichai, CATL & Hunan University on the 240 t class XDE240H truck now running at the Xiwan mine. Also in China, Eacon Mining has deployed hundreds of its hybrid 90 t EL100 autonomous trucks, which were developed with LGMG, to TBEA’s South Pit coal mine in China.

One of China’s other big hitters in mining and construction equipment is SANY – which has had its 136 t class SET150S hybrid mining truck running for some time now at sites in Russia, China and Uzbekistan; plus has now developed a larger follow up model, the 220 t class SET240S at its mining truck development and manufacturing facility in Shenyang. The battery supplier for these trucks is the same as for some of the Eacon Mining EL100 trucks – namely RiseSun MGL based in Beijing, sometimes called Rongsheng Menguli.

https://im-mining.com/2024/01/05/sany-banks-on-hybrid-mining-truck-demand-with-set150s-and-set240s-models/

Thank you Dasut for your thought on these issues, greatly appreciated!

Https://im-mining.com/2024/01/05/epiroc-partners-with-capital-on-smartroc-d65-battery-electric-drill-trial-at-sukari/

Epiroc has partnered up with mining services company Capital Limited to field test the SmartROC D65 BE, a battery-electric surface drill rig for the mining and construction industry.

The battery-electric version of the SmartROC D65 surface drill rig will be tested at Capital Limited Sukari operation, in Egypt (owned by Centamin) during 2024. This mine already has a broad fleet of Epiroc drill rigs, according to the OEM, with Capital carrying out an earthmoving contract involving load, haul and associated drilling services.

Hakan Aytekin, Vice President, Epiroc Surface division, said: “This field test is an important step in our drive towards emission-free surface drill rigs. Capital Limited is always pushing the boundaries with new technologies, and that makes them an ideal partner for this field test.”

I'm suppressed anyone can be bothered messing around with 2% stop losses,this seems pretty pointless. a waste of time and also costly when considering the in and out trading fee's each time, they must mount up?

You are entitled to your opinion Steve, I'm not saying that the the data gathered and released or reactions to news on government/central bank policies and world events aren't important or relevant, to share price monuments , albeit unreliable or massaged/manipulated at times , especially to CFD traders on leverage, but most long term Centamin shareholders know that Centamin more often than not takes a knock on a Friday, its just the way it is.

Why do so many CFD traders close out on Fridays, its because over the week end when most people cant trade s a great time for market sensitive news to be released prior to the Monday morning open.

I'm ever more confident that Centamin should do OK this next quarter and improve steadily from now on.

Not, really, a lot of sense in this?

January 5, 2024Tim Worstall Tim WorstallMetals4 Comments

Endeavour Mining, the largest gold producer in West Africa, told investors after markets shut on Thursday it had terminated the employment of Sébastien de Montessus for “serious misconduct” after uncovering an “irregular payment instruction” of $5.9m (£4.7m).

Endeavour said the payment was discovered “in the course of a review of acquisitions and disposals”.

Last night Mr de Montessus told The Telegraph: “In 2021 I instructed a creditor of Endeavour to offset an amount owed to the company to pay for essential security equipment to protect our partners and employees in a conflict zone.

“The decision had no additional cost to the company and did not benefit me personally in any way. I omitted to inform the board that I had arranged for this offset, which I have freely accepted was a lapse in judgement.

“This week I was given 48 hours’ notice of the concerns and no proper opportunity to answer them.”

But that is the explanation, right? So, that didn’t take 48 hours, did it? And why didn’t the board accept it?

Also, how does an offset lead to a payment instruction?

Endeavour Mining, which was founded in 1988, runs mines in Burkina Faso, Côte d’Ivoire and Senegal.

Ah, you know, I think – in my opinion – that might be where the problem is. Big, London listed, miners and corporations do not, at all, ever, play with money in the same way that the thieves and bandits which are governments in some parts of the world do. It’s just that the thieves and bandits aren’t too sure about that, even if the miners say they are.

https://www.timworstall.com/2024/01/not-really-a-lot-of-sense-in-this/

Hi Rebess,

It's no coincidence that Endeavour have been shifting over to a London listing , the UK FCA regulations are far lees demanding of companies and the way that they are applied are lax to say the least when compared to the Canadian Securities Administrators (CSA)

It's taken the BOD long enough to get rid of him and they seemed content to pay the bugger a fortune and ignore a growing umber of allegations of high level corrupt business practices that he been he has been connected with.

Possibly now though some of the BOD have decided it's time to practice a policy of plausible deniability by showing "Slimy Seb" the door!

As Mt Bond stated 'slimy Seb" wont care a jot, his sort never do in fact , he is already squirming his way out and likely lining up his next appointment elsewhere, although I wouldn't be surprised if he sued the Endeavour board for some sort of compensation!

https://www.mining.com/web/endeavour-mining-plunges-after-firing-ceo-for-serious-misconduct/

Got bailiffs knocking at your doors?

Just hide your money, all offshore!

https://www.youtube.com/watch?v=OvtSomaXKE8

Tony,

We all know by now it's not unusual for Centamin price to pull back on a Friday afternoon and many with be closing their CFD positions for the weekend to avoid any risk of a Monday morning gap down.

It looks though central bank demand. will be strong in 2024 as heightened geopolitical tensions will put pressure on the U.S. dollar as the world’s reserve currency, thus making gold an attractive monetary metal!

http://tinyurl.com/mpmmhtuj

So without any news to the contrary and if all goes as Martin Horgan has indicated then 2024 looks as though it should be a much better year in many respects for Centamin shareholders!

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https://uk.pcmag.com/software-services/139960/go-beyond-google-the-best-alternative-search-engines