Member Info for mrtibbles

HI Red Sparrow,
Re Jim Callaghan saying how could Labour compete in an election when the Conservatives were selling council houses to tenants for £7000 and those people were reselling them for £80000 immediately.
I remember that time very well , our council had a growing waiting list for social housing yet we had queues of people demanding to buy at @ 40% discount, even some of those that had over two years of outstanding rent, they got loans from local money lenders to pay off the arrears so they qualified to buy!
They were required to keep the house for two years before they could sell.
It really was a case of the Tory party buying votes, it always seemed glaringly unfair that Thatcher decided that councils should have to give a 40% discount to tenants and yet the private sector landlords some of whom were screwing their tenants, especially those who could claim their housing benefits from the DSS weren't required to offer their properties for sale to existing tenants at a 40% discount!
Also councils weren't allowed to use the fund's raised from the sale of council houses,Thatcher's government decided that councils were not allowed to acquire capital assets so everything from photo copiers to refuse vehicles and buses had to be leased.
Thatcher realised that because councils are tax except anyway that leasing vehicles and equipment is very much more expensive for them,unlike in the private sector where leasing is tax advantageous!
This was all part of the strategy to portray the public sector as inefficient and costly in order to justify it's destruction and the privatisation of publicly owned utilities.

Hi Red Sparrow,
I take your point about the Capital note, but let some of those that were moaning and having a poke at me because I touched a raw nerve have to take the trouble to pick up the info on the Centaminers Table, if they want it.
As some of the longer term members on here will recall during some of the rough patches in the early days you were lucky to see any new posts on the Centamin board at times, it was partly the general chat and banter that helped keep the board alive and us to stay strong. not panic or sell out!
I am sorry that it may cause some inconvenience to some of my other friends and members who know me so well and who were also willing to have a good blather or let off some steam and frustration.
But times have changed, there is a mood of intolerance across the country now and that has intruded onto share chat boards ,so we mustn't upset the serious traders, after all half a minute reading an off topic post could mean them missing out on the deal of they day or making or losing a million, washers that is!
It's a pile of poo really, the markets are all bent as buggery, so why do they try to make out they are an expert's, its all down to luck and being the the right share at the right time,or for the right length of time, that's the clincher!
Anyway things should turn out very well at Centamin, wait and see ,and in the meantime I shall still try to find out what news I can.

Keep well !

Don't let the buggers (Boris & Co) wear you down!

I hoped you liked Steve the donkey, he's my choice for next PM!

Tibbs

Hi Red Sparrow,
Yes a bit of fun, I agree the bloke drinking the "Admirals Ale" should be chucked in the long boat till he's sober!
https://www.youtube.com/watch?v=52g7ak47IZo
https://www.youtube.com/watch?v=yk2y_j-XrIM

Bet these chaps would enjoy an Admirals ale!
https://www.youtube.com/watch?v=yk2y_j-XrIM

Capital has a stable drilling business, offering drilling ser the predominantly African market, and has shaped its cvices to ontract portfolio (since listing on the Main Market in 2010) to gain
exposure to more stable mine-site contracts, which are related to production. We believe that significant cyclical upside presents itself in this core business, where both rig utilisation and pricing power can meaningfully rally if: i) metal prices (particularly gold)
are strong; and ii) capital markets are buoyant and funding junior
explorers’ exploration programmes.
? In addition to this core business, we think that the company’s foray
into contract mining has the potential to meaningfully grow revenues, given that we estimate that this market is worth cUSD1bn in Africa.
? Our rounded GBp101 price target is based on 4x 2021-22 average
EBITDA (cGBp76 per share); a 50% risked valuation of contract mining upside, at 5x EBITDA (cGBp14 per share); and the value of listed and unlisted investments (cGBp11 per share).
Bloomberg CAPD LN
Current price Price target
GBp64 GBp101 Market cap (GBPm) 122
14/04/2021 London Close EV (GBPm) 145
Trading volume 117,713
Free float 70.0%
Non-institutional shareholders Share performance
Management and founders: 42% High 52 weeks GBp78
Low 52 weeks GBp48
Business description Performance relative to

Weak commodity and capital markets: Weakness in commodity pital markets activity, which would likely weigh on demand for rigs from exploration clients.
? Loss of key contracts: Capital has a number of core drilling contracts that comprise a material amount of revenue. The loss of these contracts would have a negative impact on revenue; however, the company has acted to diversify its revenue in recent years.
? Loss of key personnel: Capital’s operations require skilled operational and business development personnel. Loss of these has the potential to affect contracts and future revenue generation.

As Capital are at present clearing the Sukari open pit waste see Berenberg note Highlights 15/05/2021
A strong start to the year!
? Capital has reported a strong start to the year, delivering revenues of USD44m, a quarterly record since inception and a beat versus our USD38m estimate. This was driven mainly by strong performance from its drilling business, with rig utilisation rates of 67% beating our 66% estimate and average revenue per operating rig (ARPOR) coming in at USD180k, a beat versus our USD173k. The strength in ARPOR was driven by a mixture of strengthening revenue contributions from new contracts and improved performance from existing long-term contracts. We believe that mobilisation revenue from the Sukari contract in Egypt is likely to have been another driver of the better performance. The company has reiterated revenue guidance of USD185m-195m for 2021.
? Tailwind is there, opportunity for beat: It is still early in the year, but market conditions for Capital remain attractive. In the drilling business, management notes that its core mine site contracts are performing well, and that it is experiencing the strongest demand environment for drilling services in a decade; this is very encouraging, and while we conservatively model ARPOR reducing (back to our previous expectation of USD173k for the year), we see scope for a tight rig market to support higher prices, with scope to beat guidance. Further, the Sukari (Egypt) waste contract will materially ramp up in H2 as volumes pick up; this offers meaningful revenue momentum in H2 and also scope for further contract wins given that the tendering market across all business units is “highly active”. We do not include any further contract mining wins in our estimates and believe there is upside to our forecasts should a new contract be won.
? Model changes and valuation: We update our model for the Q1 results; we bring forward some revenue into Q1 from H2 in the contract mining business to reflect mobilisation income (our total contract mining income for 2021 is unchanged) and model a touch of conservatism in Q3 to reflect the West African rainy season. Our revenue projections increase by cUSD1m to USD192m; we remain within the guidance range of USD185m- 195m but see clear upside to our estimates and the possibility of a guidance beat this year. The company continues to benefit from strong structural tailwinds and at 4x EBITDA with scope for a rerate to a full service
contractor multiple of 5x coupled with attractive revenue growth (42% versus 2020) and EBITDA growth (+53% over the same period), we remain conviction buyers of the name, with a GBp101 per share price target.

Some of you into Crypto trading may find interesting how things have evolved in precious meals price manipulation and how "Kinesis" bullion backed crypto currency with the 2021 June implementation of Basel 3 regulations will change the game
2018 Andrew Maguire talks Gold, Silver and Kinesis with Bart Chilton
https://www.youtube.com/watch?v=lJ5wpWkdpjw
May 2021
Andrew Maguire says LBMA is breaking, silver and gold preparing to liftoff with Basel III
https://www.youtube.com/watch?v=19uWKq_Gw54
kinesis andrew maguire from the vault episode 37
https://www.youtube.com/watch?v=iFWna9qBvPk

Some of you into Crypto trading may find interesting how things have evolved in precious meals price manipulation and how "Kinesis" bullion backed crypto currency with the 2021 June implementation of Basel 3 regulations will change the game
2018 Andrew Maguire talks Gold, Silver and Kinesis with Bart Chilton
https://www.youtube.com/watch?v=lJ5wpWkdpjw
May 2021
Andrew Maguire says LBMA is breaking, silver and gold preparing to liftoff with Basel III
https://www.youtube.com/watch?v=19uWKq_Gw54
kinesis andrew maguire from the vault episode 37

Just heartwarming films that teach important lessons on just being kind to others!
The Fox and the bird
https://www.youtube.com/watch?v=Jm0MLlE4x0U
"Steve "the donkey questioned about break in at the carrot store!
https://www.youtube.com/watch?v=ZZnqLi0rSQg

Tibbs

Hi Everyone, So nice that you could join me at the table, it seems that we certainly won't be short tof things to discuss, if this goes on we shall have to ask the management if they might be able to give us a bigger table!
Cowichan's snippets were interesting, as always on the CEY forum and the follow up from Red Sparrow on the crypto, personally I wouldn't touch any of those that aren't backed by bullion, but each to their own.
I haven't bee to Cornwall for a while, but when I do visit I usually enjoy some of the craft beers from this brewery https://harbourbrewing.com/pages/manifesto
They do a very nice dark "Harbour Bitter" on the pump!
https://www.youtube.com/watch?v=3v98dUp7h0M
https://www.youtube.com/watch?v=amwhknSde5s
Unfortunately so much of the lager beer brewed in he UK is nothing like the same brand bought across the channel, its because our big brewers cut the specific gravity so that the beer falls into a lower tax band and this increases their profit margin.
When in South Cornwall try "Admirals Ale" I think this chap has enjoyed more than a couple!
https://www.youtube.com/watch?v=o4BUPIezc8Y

Hi Everyone,
My thanks to all my long time friends and fellow Centamin share holders and welcome too our table in the corner of our favorite pub "The Centamin" .
I do hope that everyone will feel welcome and feel free to join in the conversation on whatever they like really,as long as it's legal and not breaking the LSE rules.
Looking forward to hearing everyone's idea's ,tips and much more of the interesting subject matter about your experiences in life and our world , even Centamin related if you so choose!
Tibbs

Having been a member of the LSE website for over a decade I would like to thank the LSE Admin/Moderator' s for providing this wonderful facility for investors to chat and also thank the members for their contributions and not least of all the civility in the main with which they treat one another.
Like ParioniaBlue I try to remember to compose in "Word" and then cut and paste, but being human my enthusiasm on occasions gets the better of me and it's not until after I have hit the post button that my typo or gibberish is glaring me in the face!
I can understand the moderators reasoning why an edit facility is not featured, however I am of a the same opinion to MoneyDan that a timed edit facility would retain the safeguards required by the moderator whilst providing a few minutes for members to correct typo's.
Thank you