RE: Takeover?14 Oct 2021 12:25
Regurgitation on your behalf Rebess.
The article is like son’s excuses but it is an interesting account of the mess the world’s financial problems, I cut and paste the entire thing into google translate and hit the speaker icon.
For the Centamin (m&a) comments throughout, please see below.
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“As such the developers with feasibility studies and delineated resources are favoured. We like McEwen Gold or a package of juniors with feasibility studies like Ascot, Bluestone, Orla, or Sabina. Exploration successes, Skeena and K-92 are strong development situations but are in need of feasibility studies. Among the seniors we like Barrick and Agnico on this weakness. We also like B2Gold and believe that Eldorado, Centamin and Lundin Gold will be future participants in the M&A game.”
Centamin plc
Egypt’s largest gold producer Centamin’s main asset is the Sukari Gold Mine. Centamin has $312 million of cash, no debt and 3,100 km2 of exploration ground in Egypt. Barrick recently acquired four exploration licenses for 19 blocks in the Eastern Desert where Centamin’s mine is located Centamin produced 204,000 ounces in the first half and will produce 420,000 ounces or so this year. Centamin recently completed 79,000 m of drilling of which 49,000 m was underground as a prelude to a Phase 2 underground expansion. With reserves of 9.3 million ounces, Centamin has a 12 year mine life before going underground. Centamin has a two-year budget of $10 million and is ahead of Barrick as to knowledge of the area. Centamin earlier rebuffed a takeover proposal because the bid was too low. We believe that Barrick’s entry has vindicated the pioneering ways of Centamin and believe it will likely get another takeover proposal. Buy
https://www.gold-eagle.com/article/gold-america’s-forever-war-not-over
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