The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
POG just touched $1336.
I do wonder how much of the $ is converted to £ within the company. Being that a very large portion per ounce is used in AISC, would this be paid in $ or Egyptian Pound. This would only leave a small percentage left to be converted to the good old British Pound? I know that uncertains diapog was useful. The share often responds more to the $POG. I guess that the MM's use whichever suits them at the time!!!
Very strange. CEY at £1.22 with POG at $1280. POG $1320 CEY £1.17. I do wonder why people sell shares in gold miners while the POG is rising, or is it just more manipulation by the markets! Guess there is a point where it has to turn though.
Happy and Prosperous New Year to All.
Falling Dollar?
$1255. Early News?
That sounds like a pretty fair appraisal of where CEY should be ATM. Guess we just wait for market to catch on!!!
It is interesting to compare the losses with other miners over the past year year. Seems that HOC is the biggest loser (other than ACA for other extreme reasons) at around 52% although I believe that their costs spiralled and they had more debt than cash in bank, followed closely by CEY at 47%. The other popular miners seem to have faired a bit better with RRS at 21%. POG at 27%, GLEN at 32% and HGM at 21%. There certainly should be be some upside to come if production has indeed returned to 'normal'.
Sp not so!!
Dazah Does the console comply with figures shown for sell v buys. Of 4million shares traded it shows 2.4m buys to 1.6m sells. Would expect that raise so?
This is almost like watching a bank robbery in action. I guess the stop losses give the mms an excuse to do this. Maybe a big buy order? Who knows?
At 2pm. https://www.federalreserve.gov/newsevents/calendar.htm
I believe that it is the 19th. https://uk.investing.com/economic-calendar/interest-rate-decision-168
Reference to the failure of 3 excavators here. Not heard about that before.
$331m Sukari mine revenues until July
Centamin pays $122m mining royalties to EMRA
Mohamed AdelPublished in Daily News Egypt on 21 - 10 - 2018
The Ministry of Petroleum and Mineral Resources received about $331m in royalties, and profit shares from the Australian company Centamin, which is engaged in the production of gold from the Sukari mine.
Egypt had received about $122m in royalties from the Sukari gold mine since 2010 until the end of July, which was paid to the Egyptian mineral resources authority (EMRA), a source within the ministry told Daily News Egypt.
He added that about $209m had been collected from Centamin since the start of the production in the Sukari gold mine in March 2013 until the end of July.
The source pointed out that the temporary decrease in the mine's production during the last month was the result of the failure of three excavators working in the concession area, which have been repaired, and the production rates have returned to their normal levels.
The gold production during the third quarter (Q3) of this year increased by about 27%, compared to the Q2 of 2018.
According to the company's financial results during Q3 of 2018, during the months of July, August and September, the production of the mine reached about 117720 oz of gold, while production during Q2, the months of April, May and June to about 92803 oz.
In May, the company reduced its target production volume in 2018 to between 505,000 ounces and 515,000 oz, compared to 580,000 oz targeted previously, due to the low quality of the mine's gold ore.
Sukari exports account for about 2% of Egypt's export balance, according to official data from Centamin.
Two gold companies are currently operating in Egypt, Centamin in Sukari, and Cypriot Matz Holdings, which operates in the Hamash mine, as well as two gold exploration and mining companies, Canada's Aton Resources and the UAE's Thani Dubai Mining
There certainly does seem to be some agenda with CEY. Gold up a little, low volume, but twice as many buys as sells. SP down. Never seems to follow the logic.
$1226.50 is the current main resistance - economies.com/commodities/gold-analysis
3.2million buys v 2million sells. Thought that the basic principles of share prices were based on demand. But what do I know?
Also POG up over 1%. Dunno how they get away with it.
More buys than sells yet they still push it down 4%.
Very odd yet again 3.4million shares dealt. 2.2mil buys and 1.2mill sells. SP drops 2.5%.
Seems that the MM's want this down whatever the interest.