Member Info for mrtibbles

Quite so Daz, he appears to be doing a good job, but is it just another desert mirage or wishful thinking that this time it is different!

The past has delivered far too many glowing reports full of promises of good times coming the very neat quarter that delivered disappointment instead!

When we see the AISC reduced by a third and the delivered guidance of good quality grade ore with the share price at least 50% more only then I will be glad to acknowledged a good job done, but until then I remain cautious!

Absolutely Razor's,

Unfortunately this type of sharp practice of hiding an unavoidable, but a considerable proportion of the full operational cost of mining operation is used by a number of unscrupulous mining companies to reel in the uninformed and naive investors, the environmental damage is huge,, as is the cost of putting things right,but by the time it becomes apparent the directors have usually filled their saddle bags with swag and moved on to another project!

Hi Spot,

I remain incensed that such intentional bad mining practice could have carried on for so long !

That said I concur with your comments regarding the professional mining understanding of those analysts on such site visits.

So it may interest you to know that I expressed as such to the Head of Investor relations who was quite open to my suggestion that Kees Dekker mining analyst should to be invited to have free reign to inspect and report back on the present Sukari operation.

The concern the company had on this was someone would have to fund the visit and if it were the company it may be difficult claim their impartiality in such a survey.

You may recall in the past that Martin Horgan was asked by a media representative about past missed guidance and Martin remarked that in the past Centamin couldn't deliver a Pizza on time,let alone guidance!

I want to believe that this time will be different, but after being lied to by Andrew Pardey and giving the benefit of the doubt to the past management on more occasions than I care to remember it is I feel understandable that despite my faith in Martin Horgan it is perfectly reasonable for me to expect some measurable proof this time!

Best

Tibbs

Hi Spot, Daz and other members,

I quite agree, but with the caveat that we are be given a completely truthful account of what is taking place and the results promised will be delivered on time!

It isn't my intention to scaremonger, but considering number of times shareholders were mislead in the past it makes sense to exercise some caution and bear in mind the very corporate brokers who recommend Centamin now also since 2016 visited Sukari ion several occasions but not once questioned or mentioned the failure to clear waste from the excessive high grading!

I look forward to not bing disappointed this time around!

Hi Daz,

It would be extremely naive to say the least for anyone to have the slightest notion that comments or opinion said by any retail investor could have such bearing to put this share in some sort of decline!

As the ,majority of long term holders, or those simply got exhausted and sold out would confirm Centamin is a contrarian share to say the least and virtually impossible to predict as to how it will react to any given circumstances, despite what some may claim and bearing in mind that anyone can be whomsoever they want to be on any internet forum and that trading success or failure in Centamin is in the main based on luck, or as in the past the luck of getting out just before a member of the management is forced to disclose claimed unexpected occurrences which in reality they had been glossing over for years !

You are very mistaken if you have the idea that I would be spending anytime trying to drive down the share price by a penny or two, I really couldn't be bothered.

Who knows there might be be a newer member of this forum who is working to the agenda of a PR agency or corporate brokers, it wouldn't be the first time!

Hi Cowichan,

You missed this - He holds a BS in mechanical engineering from Cairo University. On May 2017, the French President awarded him the “Ordre National de la Legion D’Honneur” at the rank of Knight. On November 2020, the President of the Hellenic Republic awarded him the “Grand Commander of the Order of Phoenix.”

Mr Bond,

There is often all manner of inaccuracies, overly biased or even incorrect facts in all manner of articles or mainstream published news , even more so social media and Centamin have been known to not always be entirely truthful at times when it suits!

Hi Daz,

Thank you for your thoughts, you are likely not aware but Cowichan is a professional geologist and I can vouch a very decent person, I have seen some of his past correspondence to Centamin which was polite and reasonable, and at least deserved some official acknowledgment, even better an answer!

Possibly some of Cowichan's questions were based-on inaccurate information , but if that were so then the company should have regarded it as an opportunity to quell rumour and state the true facts, sadly they did neither which is at the least is a missed opportunity to promote interest in the company!

i am a longer term holder of a not inconsiderably number of Centamin shares and I have a dossier of unanswered questions , three is certainly room for great improvement but since the change of PR company response to investors queries appears to bre non existent!

Do I trust what we share holders are being told, certainly not, they lied in the past why should I trust```````` them now!

Centamin is welll and truly buggered with market trust down the lavatory for good reason, the management behaved like carpet baggers and shysters upwards shareholders!

Its an end to the extra waste clearance costs with measurable proof results and a restoration above scraps level of the dividend that's needed before the share price will rise!

Until then regard the company with great suspicion and trust iit like a rattle snake in a lucky dip!

Centamin is in the "Stinker" class at present and great improvement is needed!

Hi Mary,

These shares ain't going anywhere until $300-$400 come off the AISC !

The liquid assets are lass than half of what they once were because of the managements past bad practice and greed!

Take what Gold Eagle prints with a large "Spliff" and a tumbler of Jack Daniels!

Hi Daz, I think its fair to say that in the past Cowichan has been very proactive in finding good mews about Centamin, but I suspect he just got tired of not getting answers to is questions and enduring the way the share price languishes in the bottom of the spittoon of "The Last Chance Saloon" with not getting his questions answered!

Oh I agree about being a single source provider, but then according to the website Pardey and Co were supposed to be developing the other satellite operations in West Africa , although as it turned out they were just expensive drilling operations that seem to have produced nothing other than more disappointment, although of course they were a bit of a diversion from what was going wrong at Sukari!

N the past, a heavily managed exchange rate has not served Egypt well. It has led to periods of building imbalances, which in turn, have led to the loss of central and commercial bank foreign currency assets, rationing of foreign currency, forcing the central bank to abruptly devalue the Egyptian pound relative to other currencies. These devaluations have led to spikes in inflation and undermined economic activity as consumers and investors lose confidence in the health of the Egyptian economy.

https://www.kitco.com/news/2023-08-04/It-might-be-good-to-hold-some-gold-after-U-S-debt-downgrade.html

N the past, a heavily managed exchange rate has not served Egypt well. It has led to periods of building imbalances, which in turn, have led to the loss of central and commercial bank foreign currency assets, rationing of foreign currency, forcing the central bank to abruptly devalue the Egyptian pound relative to other currencies. These devaluations have led to spikes in inflation and undermined economic activity as consumers and investors lose confidence in the health of the Egyptian economy.

https://www.imf.org/en/Countries/EGY/Egypt-qandas

4 Aug 2023

In this week’s episode of Live from the Vault Andrew Maguire is joined by Daniel Lacalle, the investment manager, author, and professor of Global Economics, to assess whether the Fed risks driving inflation with escalating rate hikes.

The industry experts discuss whether US Treasury Bonds can still be considered risk-free and whether a default is inevitable amid unrestrained borrowing, before turning to the politicisation of UK banks.

https://www.youtube.com/watch?v=nqoM-doc4Uo&t=24s

Interesting Cowichan because I raised this issue several times with "Buchanan" and the comapny on several occasions and was told that the original contract terms are enshrined in law and even any new concessions are won on the new T & C there is no chance of any changes to the original Sukari term.

Siko has also explained and confirmed no chance of change several times in the past.

So what now?

Hi Dasut,

I hope that you are well!

I know I am not alone in appreciating your informative posts based on years of experience in the business and indeed your in-depth understanding gained from professional experience at Sukari.

Although denied for may years and glossed over with Andrew Pardey's high grading it is apparent that Inherent grade problems are the norm fort the past and indeed for the future.

Eight years or so ago Kees Dekker said that the underground operations were critical to keeping the mine viable , certainly it was noticeable that as soon as Martin Horgan he confirmed just how crucial the underground workings were to to the whole Sukari operation!

Yet whilst the underground operations seem not have been regarded seriously how many years and how much money was spent on the Cleopatra slope that never seems to have resulted in anything!!

But thank you for your clarification of importance of losing that huge carbuncle of waste clearance !

Keep well

Tibbs

Hi Siko, fair and valid comments!

Unfortunately as with so many countries the world over the ordinary people are lovely and deserve better , its the greedy self serving out of touch politicians and rulers that are so desperate to stay on the gravy train so they continue to kick that very flawed can down the road to keep the status quo, or even grab a bit more, that will always be the problem for the foreseeable future

Keep well!

Tibbs

Fair comments and good points Daz!

I too hope for proof of the plans success

Tibbs

Hi Paul,

I'm glad that you understand what I am getting at, you will likely remember when I had been given in good faith by others that the "Good times were coming", they were as dismayed as I when once again our hopes where dashed by supposed unexpected occurrences and I was certainly more than dismayed when I realised that I had in some respects, albeit unintentionally let others like yourself down.

My acquaintance who used to pass on what they believed to reliable information is now as cautious as I about taking anything the company says on face value, its unfortunate that we have doubts about what may be truthful updates and claims, but after being deliberately misinformed by those who should have behaved more honourably and until there is actual evidence of AISC at more reasonable levels, a sustained delivery of predicted guidance and some substantial improvement the the share price and dividend then I urge everyone to view Centamin with caution!

I will be more than delighted if all my suspicions are proven to be unfounded!

Keep well!

Tibbs

Yes I am aware of that, which is why I posted it.

I am not being negative,its being realistic considering how many times shareholders have been led up the garden path too many times in the past which is why I view any comany statements now with caution or possibly with scepticism!

No doubt Martin Horgan could sell ice to Eskimos, however It proof in the share price that is required and as yet its not forthcoming!