Member Info for mrtibbles

Well said Rebess and Sotolo!

Re The Group has not entered into any forward gold or fuel hedging contracts.?

Centamin has purchased put options for 240,000 ounces of gold at a strike price of $1,900 – 4 per cent below the going rate, but the gold price should be supported over the medium term due to the likelihood of US dollar weakness. The shares continue to trade below book value once cash is factored into the equation.

https://www.investorschronicle.co.uk/news/2023/07/26/centamin-earnings-up-despite-a-capital-intensive-phase/

Hi,

For those of you who would like to fact check issues such as "Covid " and other media coverage of political issues you may find this site useful

https://fullfact.org/health/coronavirus/

https://committees.parliament.uk/writtenevidence/13559/html/

Hi Rebess, I wonder if the recent Centamin price hedge contract is similar t this ?

https://www.lbma.org.uk/alchemist/issue-12/the-hedging-advantage

Hi Rebess,

Agree entirely!

I'm pretty sure that everyone including Cowichan hopes that you are right, shareholders certainly deserve some good news!

All too often Centamin shareholders seem to behave like startled rabbits in the car headlamps, frozen stiff, afraid or unsure which way to move and seem afraid of asking a perfectly reasonable, or possibly awkward question, or even express what may well seem to be a justifiable criticism because they think it might be used by the market or traders to knock the Centamin share price down from its already bottom of the bargain bucket price, this of course is ridiculous to say the least!

The gold price is getting close to $2000 and yet the Centamin share price is less than 85p, that speaks for itself, people understandably remain deeply suspicious of he marketing and slick presentations because Sukari has yet to deliver and the Cemtamin management have gained a reputation for feeding the shareholders baloney, not even good balcony far too many times for far too many years in the past and it seems from this latest Q£ report that they may be trying the same tactics again!.

Cowichan is on our side, he does the research and asks the questions which really Centamin should answer, or at least give a reason why they choose not to, but instead they resort to blocking him on social media and linkedin, one must question the reason why, surely even if the question is based on incorrect information isn't it better to respond in a polite and professional manner, failure to do so does not put the company in a good light!

My emails to Centamin and to FTI now go unanswered , although I am led to believe that this is now the new company policy!

I would be delighted have some substantiated proof, or reason to praise the Centamin management, but as yet I can see no reason to do so, in fact quite the contrary.

Hi Paul,

I suspect they know more than they are letting on now!

How many time have we heard this in the past, how do we know its not more kicking the can down the road or stringing us along again?

Hi Dasut,

A mining annalist acquaintance of mine from what information has thus far been released described the Doropo projects as "Hardley a dripping roast!"

I realise since then gold prices have risen, but that said they cant be guaranteed and of course there is always the African risk factor of corrupt government, military cue or insurrection by jihadist and other rebel groups.

But those factors aside what should concern any shareholder or potential investor is that Centamin thus far has hardly a good track record regarding the creation of commercially viable mines outside of its Egyptian comfort zone, that said even then the management through a mindset of short term high profits at minimal cost achieved by deliberate bad mining practice and glossing over the true facts has created an appalling mess at Sukari for which shareholders are paying a heavy price!

I remain unconvinced about the Doropo prospects and cant help but wonder if it is being used as a diversionary tactic from the ongoing Eygptian problems at Sukari which has yet to deliver and will Doropo end up as being yet another money pit which will end up being handed over to someone else or just abandoned?

Good point Dasut, very good point!

Thank you M.Henderson,

I have emailed Centamin IR and FTI the PR company if I don't receive a satisfactory response ans explanation then I shall be asking for the regulator to investigate this issue

Hi Paul,

Its been so long since we had some really good news that I no longer expect it,although should we get some it would be fantastic!

If the directors made some meaningful purchases at this level it would help!

Tibbs

M Henderson,

Thank you for your post, in case you have forgotten I have reposted below my previous reply to you as the basis of it is still relevant to your latest claim that Martin Horgan is lying to share holders and indeed the market, these are serious accusations which if you can substantiate should be reported to the company and the market regulator.

I will anyway inform the company and depending on their response possibly seek the advice of the FCA

My previous reply to you

Its always easy to claim prior knowledge of an impending event post event , but I did take it seriously even though the you provided no evidence or source of the information.

In defence of Centamin they are to great extent limited by FCA regulations regarding what can be released into the public domain and so possibly they decided as the situation was already being dealt with as a matter of course there wasn't any justification for an RNS which could have influenced the market.

Just to clarify .after your claim I contacted The Head of Centamin Investor Relations, see their reply below -RE: Clarification announcement about the news circulating regarding the stopping production in Sukari for more than 10 days ?

From Centamin

We are not aware of the news you are referring to.

We had a substantial plant maintenance programme scheduled in Q1 this year, which was successfully completed as planned: https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4275992&lang=en-GB&companycode=au-cey&v=.

For clarification, the Sukari paste-fill plant commenced commissioning in Q2, not the gravity circuit. The Sukari gravity circuit is in the design phase with a construction decision expected by the end of this year: https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4357244&lang=en-GB&companycode=au-cey&v=.

Head of Centamin Investor Relations

So M Henderson with these facts in mind if you are still suggesting that there is some impending unannounced but detrimental news that Centamin aren't disclosing then may I suggest that rather than spreading unsubstantiated rumours on internet forums that you contact Centamin for an explanation and if you feel that their response is insufficient then to refer your claims to the FCA.

In the meantime I will inform Centamin Investor Relations that you may be in contact with them.

A valid point Mr Bond.

Hi Rebess,

A big ask indeed!

Will they deliver gold or disappointment, if past experience is anything to go by I think most long term holders will have an opinion!

Doropo, I get the impressionism from independent sources that the grades are nothing special, so will it be used to divert attention elsewhere with more money down the drain to end up as another "Dropo!"

Hi Rebess,

I don't know about you but I must admit I really can't recall when we last got really good news from the Centamin management and unless Martin Horgan has some good news up his sleeve then the will likely get a thorough spanking tomorrow!

No doubt about it Pardey and the rest of the shysters certainly had our legs up and dug us into a right pile of crap that we wont really be out of of until 2029, by then barring finding any rich deposits the end of the life of the Sukari mine is much closer.

Barring Horgan pulling any rabbits out of the bag it' s likely that Centamin will remain just a pile of pants for some years to come, possibly even for ever!

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Hi Mr Gnome,

Thank you for a very interesting post regarding the initial study and sampling to help decide the commercial viability of a potential and ongoing mining projects..

From my own acquaintances you aren't the first or the only mining professional that has been a recipient of insults or aggression in various forms just for asking awkward questions and giving a truly honest analysis.

Big respect to you for having the courage and integrity to be completely frank and honest in your presentations despite the risk of physical and verbal abuse afterwards!

Tibbs

When compared to the extreme suffering in the wars of Gaza, Ukraine, Yemen and indeed all the other areas of the world where armed conflict is an ongoing even as we view this forum we can count ourselves to be so fortunate and so rich in so many ways by comparison.

Dasut,

Thank you for your your reply and opinion, Kees Dekker has always been of the opinion since 2016 that it is the underground grades that were never regarded seriously enough, yet they are of paramount importance to supplement the poorer open pit grades if the Sukari mine is ever going to shine!

Considering the gigantic task, time scale and associated expense to rectify the many years of errors by the previous management of the Sukari operation its no wonder if some members and long term share holders are frustrated.

Hi Dansul,

Thank you for that, the Cey SP could certainly do with a very considerable rebound!