Member Info for mrtibbles

What is CEY's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

https://simplywall.st/stocks/gb/materials/lse-cey/centamin-shares/valuation

Cooperman

You are quite right, that was after I had over an hour long telephone conversion with him just after he took up post, but hindsight is a great thing and subsequent events since, not least his reluctance to buy any shares and with the communication and transparency controls he has applied to retail shareholders access to information, even prior to this what may be regarded as under the table deal made me realise I was taken in by him in many respects.

So I admit I was wrong, I was taken in!

Agreed Paul, also if Doropo is to be believed and as it appears from the recently published report and considering the likelihood of ongoing higher gold prices then it appears that shareholders are being tucked up, but the strange thing is that the Anglo CEO has also expressed the view that he is open to disposing of Doropo if the Centamin deal goes though!

Hi Razor's,

At that time Likely CEO "Slimy Seb" of Endeavour had his eyes on the Centamin coffers which were considerably fuller than they are now and the AISC of running Sukari were also cosuiderbly less although that said we now know the reason for the latter!

That said after the way that this initial offer was snapped without any consultation of retail shareholders up it seems that Martin Horgan and the BOD may well have had an underlying agenda to sell us out as soon as they were able to make enough to fill their boots and saddle bags all along!

It seems that retail shareholders can rarely really trust plc companies CEO's & BOD because they will usually sell their retail shareholders out if there is a chance of a nice little earner for them!

Martin Horgan made a very nice profit out of selling Toro and it seem he has applied the same almost identical strategy that he used when selling mining Toro in his role as CEO of Centamin and we are to get the sh*t end of the stick just like the Toro retail shareholders!

Seems like a mining company pump and dump in many respects , plenty of profit for Martin and the BOD by waving a the revamped Centamin with all the big expenses (Clear up)funded by the shareholders and lots of unexploited potential guidance under the noses of a greedy Anglo! CEO and it's parasitic BOD!

Toro Gold founder and chief executive officer Martin Horgan was pleased to be combining with Resolute.

He said: “Resolute’s acquisition of Toro Gold provides Toro Gold shareholders with the unique opportunity of realising immediate value for their Toro Gold shareholding … while becoming part of a premier African gold producer as shareholders of Resolute.

https://tinyurl.com/2d8xk3hv

London’s largest gold miner Endeavour Mining (EDV) has said former chief executive Sebastien De Montessus channelled a further $15mn (£12mn) away from the company to an unidentified third party.

The miner fired De Montessus in January over a $5.9mn payment he arranged to be paid to the same third party for what he said was a critical security bill. After an investigation, Endeavour alleged the security bill explanation was false.

https://www.investorschronicle.co.uk/content/7ee2328e-fcdd-508a-9daf-4a13b27125fd

I hope that Blackrock, VanEck and the other big holders reject this offer as being not high enough!

Tibbs

Have to say Mr Bond I agree entirely and as you eluded to the dividend as we know it even it its reduced state would still be considerably more than Anglo would likely pay and the new owners are under no abolition to abide by the present ratio of dividend to free cash flow!

The BOD I feel are are failing existing shareholders by recommending this offer!

There is more to this than has so far been admitted, (Bod feathering their own nest?)and its the existing retail shareholders who will lose out!

Martin Horgan did very nicely out of selling Toro in the past, he seems to be applying the same strategy again and its not for out benefit!

https://www.proactiveinvestors.com.au/companies/news/224781/resolute-mining-signs-agreement-to-acquire-100-of-toro-gold-revises-production-and-cost-guidance-224781.html

I agree Bushy, I remain suspicious of this!

London Stock Exchange the bargain bucket shop for foreign buyers!

Bloomberg) -- UK-listed companies continue to be targeted by foreign bidders amid cheap valuations, potentially fanning concerns about a shrinking London market.

https://www.bnnbloomberg.ca/business/company-news/2024/09/10/foreign-bids-for-uk-firms-roll-in-as-centamin-gets-offer/

Thanks Mr Gnome, exactly this I find puzzling that the BOD seem to have accepted the first offer as far as we know?

Makes me suspect that we haven't been given the full facts!

Calderon said AngloGold's focus on Tier 1 assets meant it would be "very open" to disposing of Centamin's Doropo project in Ivory Coast as well as its existing Brazilian assets?

https://www.reuters.com/markets/deals/anglogold-ashanti-buy-centamin-25-bln-deal-2024-09-10/

If Doropo is as promising as we have been led to believe then why drop it?

Tonight’s showdown: Former President Donald Trump and Vice President Kamala Harris will face off tonight in Philadelphia in their first presidential debate

https://edition.cnn.com/politics/live-news/trump-harris-debate-abc-09-10-24/index.html

ANGLOGOLD Ashanti has launched a $2.5bn share and cash takeover of Centamin, the 450,000 ounce a year African gold miner.

The offer, which has received the irrevocable support of Centamin’s board, values the UK-listed company’s shares at 163 pence, representing a 36.7% premium to its closing price on Monday, and a 37.6% premium to its 30-day volume-weighted average price.

https://www.miningmx.com/top-story/58226-anglogold-bids-2-5bn-in-cash-and-shares-for-centamin/

Sorry missed this off the last post!

I am not a clairvoyant. You could maybe wait a bit to see if another bid comes up. AngloGold is not a badly run company, but you cannot go wrong with cash in hand as you then can decide for yourself where to deploy the funds!

I asked the opinion of a professional with many years of experience in these type of acquisitions in the industry , see below

"Given the decent premium offered It seems that the Centamin Board is in agreement that this is a good offer as I cannot see a rejection. I would think that this will go through unless there is a party that comes up with an improved offer."

Yes that's very true, although I wonder how much of the share price rise is due to Q3 performance or because of the buy out bid so, lets hope that there is another bid now!

It would be pretty naive to believe that feelers hand t been put out behind closed doors, regulations only seem to apply when disclosing important info to the likes of us but go out the window when there is a chance for the BOD to fill their boots and their saddle bags, I certainly don't trust them to have acted in retail investors best interests when it seems they have already made their minds up and its like it or leave it as far as we are convened!

Hi Mr Gnome,

Fair comments indeed,

So are you selling or holding?

Tibbs

Centamin Plc

From:mailservice@euroland.com

Tue, 10 Sept at 10:48

Ninety One UK Ltd - Form 8 (OPD) - Centamin Plc

PR Newswire

LONDON, United Kingdom, September 10

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY

A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE

Rule 8.3 of the Takeover Code (the "Code")

1. KEY INFORMATION

(a) Full name of discloser:

Ninety One UK Ltd

(b) Owner or controller of interests and short positions disclosed, if different from 1(a):

The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.

(c) Name of offeror/offeree in relation to whose relevant securities this form relates:

Use a separate form for each offeror/offeree

Centamin Plc

(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:

No

(e) Date position held/dealing undertaken:

For an opening position disclosure, state the latest practicable date prior to the disclosure

9th September 2024

(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?

If it is a cash offer or possible cash offer, state "N/A"

Yes - Anglogold Ashanti plc

2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

https://www.thetakeoverpanel.org.uk/

That's also fair comment Avocett, but it all depends on the accuracy or truthfulness of what Centamin shareholders have been told, for instance if what Martin Horgan has been stating then the offer seems lower that it should be, but then the Anglo share price dropped first thing so it may be that possibly some on there side may feel that the Centamin prospects aren't as good as claimed and they are being too generous, or of course they are maybe hoping too snap up a bargain, unfortunately we just don't know and have no way or really finding out because retail investors are treated like mushrooms (kept in the dark and fed lots of manure!)

Fair comment Hedghog, the announcement comes across as "job done' although surely the big institutional ivstors and funds will have to agree, unless of course there have been discussions behind closed doors?

I can possibly understand the reasoning for leaving the London Exchange, the UK is a backwater now although that does create problems for anyone who wants to stay invested in a gold miner with only Endeavour left and they are as trustworthy as a rattlesnake at a lucky dip!

This offer does seem rather paltry, if all we are being told is true and considering the potential for the POG to rise!

I'm with you after 12 years or and far too many "unexpected occurrences" I'm not inclined to accept this offer although unfortunately from my experience in the past with other plc's buy outs all too often the retail investors who get shafted whilst the BOD fill their boots and saddlebags before riding away into the sunset!

This may be why investor relations have been so reluctant to answer my questions?

Gary Stevenson grew up poor on the outskirts of London. He would see the skyscrapers of the city’s business district in the distance and dream of working there and becoming a millionaire.

When that dream became reality, he fell into depression.

He now campaigns against wealth inequality and has written a book called The Trading Game.

https://www.bbc.co.uk/sounds/play/w3ct5pcs