Bet a few glad they cottoned on this am that i3e wouldn't state Bybrooks intent to close Monday without prior agreement! Instead we get better. Jadam and myself had to deal with that stupidity early doors.
Anyway, a magic close to the week. Again, well done all those that joined in by buying from 12p or didn't sell when you could have easily buckled! Have a great weekend
RE: 'We expect a bidding war for Centamin'06 Dec 2019 15:15
AJ Bell investment director Russ Mould said Endeavour’s decision to go public is a ‘classic manoeuvre’ when a company tries to buy a business but they don’t want to talk.
He added that Centamin is an ‘obvious takeover target’ as its Sukari mine in Egypt is one of the biggest gold deposits among any listed miner and is considered a ‘prized asset’, but its share price has been through a few rough patches in the last couple of years due to operational issues.
GETTING CENTAMIN ON THE CHEAP
Mould said, ‘Centamin has been looking at opportunities beyond Egypt for numerous years but there has been no progress towards actually developing a second mine.
‘Getting hitched to Endeavour would create a much bigger company with numerous projects and geographical diversity – something which investors would no doubt be hungry to back.
‘The key sticking point is likely to be price. Centamin probably has the view that its recent sluggish share price isn’t indicative of the true value of the company when taking a long-term view.
‘Endeavour may have to rummage deeper in its pockets to see if it can find a few more nuggets to sweeten the terms of the proposed deal.’
RE: 'We expect a bidding war for Centamin'06 Dec 2019 15:01
If the largest CEY shareholders accepted it, then you get immediate upside to 126 area. I just don't see them getting away with that price though given heightened cashflow expectations in 2020, share price history over 2019 (i.e. higher levels).
Let's see but strongly expect EDV to sweeten their offer or Barrick (who the Financial Times mentioned) coming in.
RE: Bought at 115p - amazed this has dropped back like this06 Dec 2019 13:28
Sotolo - FRES I have repeatedly called short from 800 due to cash from ops all being absorbed by capex with the net affect of an eroding cash pile. That compounded by Continued Operational issue is why it's a downtrend.
CEY on the other hand trades off much more attractive financial metrics and 2020 is expected to be a notch up again.