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Maybe the board are looking at a reverse takeover!!!!
Yes, Merry Christmas to all and best wishes for the New Year.
I wonder how CEY price can be tied to EDV when there is no official offer. The fact that EDV sold millions of shares to push down CEY price would surely be illegal if there was any real offer. Looking further ahead if they did merge. With no free cash flow and no dividends it maybe that not only the CEY shareholders would lose out, but I wonder how it might affect EMRA's profit share, if there are no profits due to the debt?
Just curious if anyone knows. Do short sales show up in the trades. Looking currently, there are more buys than sells, Gold is up nearly 1.5% in the £, yet share price is down over 2.5%. Maybe the shorts do not register as Share Trades?? Any Ideas??
Thanks
Seems like a ridiculous time of year for them to be making advances. Then to wait nearly 2 weeks for a meeting, only to moan that there is not much time left. Surely they should have been better organised before stating their intentions. My feeling leans more towards a last ditch effort to get CEY on the cheap after the Q3 letdown. I know that CEY management have let us down badly in the past with their forecasts, but surely they could not be dumb enough to to it yet again. To meet low end of guidance would be reassuring and quite impressive. Roll on Q4 results!!
Lol. I spoke too soon.
Great post Marmot.
Looks like the gold price is gonna upset those shorters!
LOL. Rebess has been here for donkeys years. He is one of the good ones. A valuable member of this chat.
If CEY do indeed reach 155k oz this quarter, it would certainly set a standard. It would also be at a higher average price of gold which is currently averaging $1481 this quarter.
Hi All,
Not sure if this has been talked about - loads of chat atm. Anyway, it appears that Endeavour had a 1.26% stake in CEY. Assuming that they built this holding while the share price was around £1, what better way to make a quick profit than to make an offer. Share price shoots up and then they sell pretty much all of their holding which pushed the price back down. Surely this cannot be legal, or maybe it is, as the offer was 'unofficial'. Anyway, stinks of insider trading if it truely is the case.
Great explanation Master,
Can I ask, if such a large amount was sold during the day, is there a reason that they would not show in the CEY Share Trades section. Volumes seemed quite low, especially for the large drop. This was also the case the day before when the price shot up. I realise that the price opened about £1.20, but from there on the trades section indicated more sold than bought, even though the Share Price went up. Are some trades not reported during the day, especially the biggies?
Thanks.
I love the way that Endeavour talk about how their superior management team will turn Centamin around. This seems to be echoed by a few analysts. Seems that maybe our low shareprice is more to do with distrust in management than production issues. Our management really need to take this on board.
The biggest joke of all is how they say in their RNS that "Endeavour's Proposal envisaged that the Board and management of the combined group would be selected with representation from both Endeavour and Centamin, reflecting the spirit of a merger." Wonder who would survive from Centamin board???
POG very flat in Dollars but up 0.5% in £. CEY down nearly 2%. LOL.
Hi,
Good points. I was just highlighting the sentiment. Look at 2018. Price range of between £1.60 and 90p. Production only down 15% on 2018 target. POG was around £950oz all year, some 18% lower than it is now.
I think that you have to remember that market sentiment can be a much bigger player. Look at the drop from 30th Aug to 13 Sept, based on the Q3 output. Maybe 20% less for the quarter, but we are only talking about 1 quarter and still on target for lower end of production was declared. POG was down 2% over this time, share price down 16% (145 down to 121). We still have not recovered any of this lost ground.
Best wishes to his Family.
Hi Dasut,
Makes sense what you are saying. I guess all these add up. Makes you wonder if there was a way of using electric conveyor belts, maybe in conjunction with solar. This being from someone who knows very little about the workings of a mine!!!.
Q3 2017 = 156,533oz
Q4 2017 = 154,298oz
We know they can do it!!!!
23rd October for Report.
Had a look at some past prices. Start of this year CEY was £114.75 with a POG of $1284. This rose to 136.2 on a rising POG of $1338. Things collapsed a bit on the poorer than expected forecast for Q1 and Q2, but did seem overdone again. Looking at the revenue for 2018 of $603m we are actually only sitting $152m short of this, at end of Q3 with a current POG average for the year of $1369. This means that if POG holds at about $1500 then 100,000oz for Q4 would match last years revenue. Doesn't seem so bad! 140,000oz at $1500 would add $210m to revenue making $661m, giving a similar figure to 2017, although costs are higher for 2019. 2017 was when CEY reached 190.5 per share. AISC was $744 POG average was $1260 and production was 544,658oz. Please check my figures!!!