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Martin Horgan comments directly on Egyptian mining license applications at 34.20 minutes into the cc.
(unnecessary to listen to the entire cc, you can adjust the play timer along)

https://www.centamin.com/media/2346/centamin-q3-2020-quarterly-report-webcast-21oct2020.mp3

TigerByTheTail
Rebess
Djryan777
ElProfessor
DASUT
Mizolgit

—————

Iglu
Centamin applied for both adjacent to Sukari mine and other territories (*Martin Horgan cc). The details are still unfolding, as Siko mentioned no official announcement from the Egyptian government as yet.

Checkout the latest .

Interesting the company I keep banging on about Barrick with their Berkshire Hathaway share holder are in the mix.

Interesting times in Egyptian gold mining.
Game changer right across the board.

...and Naguib Sawiris

Maybe they unnamed but listed.

Turning up...

Good luck all!

Yehaaa... we can never repay you Siko.

Thank you.

Hello Mrtibbles Martin Horgan has certainly brought in some experience, he mentioned people working on this and that throughout the conference call which all sounded quite professional and impressive. Impressive from a team perspective. With a good team I hope we can expect good results.
A thought crossed my mind as Siko has pointed out that the EMRA promised a license outcome two months from September 15th and with that threshold being crossed tomorrow Centamin maybe vulnerable at its current price.
There again if the company or Egyptian government announced one two or even three licenses to Centamin the price would I expect jump.
I just got the notion three licenses on Monday and a bid from Barrick (with its Berkshire Hathaway influence) on Tuesday.
All pie in the sky day dreaming but at least we may be in a good place 1 with Martin Horgan being in place and 2 odds on favourites to be awarded mining licenses that will definitely add value to the down trodden share price.
With a little news and a half decent cc on December 2nd Centamin could become very exciting all over again.

“I hope to get stuck into some exploration across Egypt...”

“Feed back from EMRA on the licensing outcome, we hope to hear this side of Christmas....”

- Martin Horgan

https://www.centamin.com/media/2346/centamin-q3-2020-quarterly-report-webcast-21oct2020.mp3

Refresher read:

CENTAMIN had bid for mineral concessions in Egypt as it sought to broaden its exploration footprint in the North African country, said CEO Martin Horgan during a third quarter investor call today.
He also said his company would form a better opinion of potential growth prospects in Côte d’Ivoire at Doporo and Batie West in Burkina Faso “this side of Christmas”.
Centamin had met with Egypt’s petroleum and mineral resources minister, Tarek El Molla last week regarding bidding for gold prospects.

In March, Egypt put 56,000 square kilometres of exploration concessions under the hammer as part of an effort to modernise its resources sector. It expected to attract about $1bn in investment in the Eastern Desert concessions of the state-owned Shalateen Mining Company.

“If we found ounces that we could bring to our mill, that would be NPV accretive,” said Horgan of the firm’s existing Egyptian operation, the 445,000 ounce a year Sukari mine. Other potential concessions might be able to support a standalone mine, although details were “proprietary”, he said.
Importantly, there was an opportunity to depart from the 50/50 share royalty agreement typical of the oil and gas investment in Egypt that is currently applied to Sukari. Centamin reported interim net income of $74.8m, a 280% increase year-on-year.

There was no prospect of departing from the current 50/50 profit share agreement with the government, said Horgan – adding that the prospect of that discussion had made the firm’s CFO Ross Jerrard ‘wince’.

The question of Centamin’s growth options comes on the back of an life of asset review at Sukari. The mine was once a 500,000 oz/year gold producer, but following a decline in production over the last 18 months, questions have been asked about the quantity and quality of future reserves.

Review details are scheduled for a December 2 presentation to investors. The review has been complicated by ground subsidence in the west wall of Sukari which resulted in a 15% downgrade in production.
Horgan said the review was using 500,000 oz/year as a base case target, but he alluded to potential changes in sustainable production over the longer term. “It might look slightly different,” he said. “There may be smarter ways to mine Sukari, and ways to improve the margin. We might return to 500,000 oz/year; we might not.”

Shares in the company took a major 18% hit today taking losses for the month to nearly a third of its value.
Commenting on the firm’s other West African growth prospects, Horgan said a decision would be made as to whether Batie West was large enough to warrant investment and management time. A mineral reserve statement regarding Doporo would be published latest next quarter.

A mine with an average grade of two grams/ton over an eight to 10 year mine life “would work for us”, said Horgan.

https://www.miningmx.com/news/gold/44083-centamin-bids-for-egyptian-concessions-amid-renewed-pressure-on-share-price/

I was thinking these yanks are saying our bacon, but then Boohoo has always had strong buyers

Rtq now 287.00

Thank you Siko... Please don’t be shy if you hear anything.

Thanks again.

Monday’s always a better day to release an RNS anyway.
Especially one of such significant importance, more scope for the market to absorb.

Major European stock market indexes traded in the red on Friday as the daily number of COVID-19 cases in Germany reached a new high of over 23,500. Meanwhile, reports suggested there was some tension in the British government after rumors emerged that UK Prime Minister Boris Johnson's senior adviser Dominic Cummings may quit before the end of the year following the resignation of Director of Communications Lee Cain. The changes in Downing Street are taking place as the UK continues to attempt to reach a Brexit deal with the European Union.

The DAX declined 0.12% at 7:48 am CET, the FTSE 100 fell 0.63% at 7:49 am CET and the CAC 40 lost 0.28% at 7:47 am CET.

The euro was flat against the dollar, going for 1.18073 at 7:50 am CET while the pound gained 0.12% compared to the greenback at the same time to change hands at 1.31365.

Breaking the News / VP

Happy Friday y’al
Gold currently $1879.22 +.21%

Naa, couldn’t be that easy...

Shares on major European markets moved lower during premarket trading on Thursday as investors expected a flurry of economic data releases.

Industrial production, trade and GDP figures for the United Kingdom were on the schedule, as well as inflation data for Germany and speeches from central bankers. Meanwhile, focus remained on the second wave of the coronavirus pandemic and consequent lockdowns in a number of European countries.

The DAX fell 0.54%, while the CAC 40 lost 0.66%. In London, the FTSE 100 dropped 0.84%. The euro was down 0.13% against the dollar at 8:00 am CET, buying 1.17645.

Breaking the News / JC

Since I can’t find any comments in a current media search I’ll voice my own opinion.
The company needs to show an interest in its City reputation.
Stop playing Joe Cool silence by waiting until after the traditional Black Friday weekend before updating the market.
They need to show they recognise that there are two aspects to Boohoo’s reputation and that they care about the city as well as product popularity.
They need to contract an auditor by what ever agreement it takes to secure a proper respected firm and announce the assignment today.

The season of humiliation will pass quicker and image repair happen faster if something happens that the Financial markets will recognise as positive. Boohoo has a market genius that is envied and respected. Market analysts are eager to endorse boohoo but are aware of a lack of focus in the company’s financial reputation.
I think there’s a massive city reputation opportunity being missed right now.
If they act the market will endear them but if they remain silent the company will be deemed as lacking in Financial awareness.

Analysts reckon a vaccine will decelerate but not derail some consumer trends, such as online shopping and gaming. That could have some impact on video gaming companies like Team17 (TM17) and Frontier Developments (FDEV).

But the analysts argued that as in in retail, the most consumer-engaged online businesses would continue to improve their positioning and take market share.

‘The fact that consumers can return to the High Street with confidence is not going to reverse the importance of relevance; in our view, quite the opposite,’ said Peel Hunt analysts.

That means they expect fast fashion retailer Boohoo (BOO) and electronics specialist AO World (AO) to continue to perform strongly. They expect the latter to end of the year with 50% plus growth in active customers, resulting in repeat purchases that exceed the market’s expectation of 7-8% revenue growth next year.

Analysts also tipped real estate investment trusts investing in student accommodation to bounce back strongly. They recommended both Empriric Student Property (ESP) and Unite Group (UTG), whose shares have shot up 29% and 25% respectively this week.

https://citywire.co.uk/funds-insider/news/the-stock-winners-and-losers-from-the-vaccine-breakthrough/a1424285?section=funds-insider&_ga=2.4286771.1407442214.1604475801-717589055.1604475801

Centamin is an Australian company for mineral exploration and mining, headquartered in Mount Pleasant in Western Australia, and it is listed on the London and Toronto Stock Exchanges, and has branches in Australia, Britain, Canada, Egypt and African countries.

Centamin began commercial production from the Al Sukari mine in Egypt in 2010, with a production volume of 500 thousand ounces per year.

Egyptian and foreign companies offer, including "Tea Gold" and "Red Sea"
In his statements to Al-Mal, the official said that apart from the three mentioned entities, many other Egyptian and foreign companies have applied to participate in the auction.

He continued: PT Gold and Canadian RedC companies came to bid, as well as other Egyptian and international companies.

He pointed out that the progress of major international companies working in the mining sector and gold exploration reflects the importance and feasibility of bidding, and the wealth of the areas offered in it, as promising sites for research, exploration and production of gold.

According to the terms of the gold auction that was recently exclusive to the "money", the mining companies located in Egypt, wishing to participate in the auction, can view the data packages for the auction in the operations room at the headquarters of the authority in exchange for 10% deducted from the value of the basic information package upon actual purchase.

The conditions of the auction require companies to submit two technical and financial envelopes, the first includes initial insurance of $ 20 thousand presented with a check payable through an Egyptian bank, to be increased to 50 thousand paid within 15 days of the company receiving notification of its victory.

According to the terms of the auction, the companies' offers will be compared on the basis of several factors, the first of which is the minimum technical commitment for the search periods, the submission of an irrevocable letter of guarantee of 10% of the financial commitment for the first search period, and the royalty rate with a minimum of 5% of sales according to the London Metal Exchange rates, The free participation rate for the Authority is at a minimum of 15% of the net income.

According to the bidding procedures, companies can apply for a package of sectors from the offered areas or for one sector only, provided that at least one information package is purchased as a prerequisite for participation in the auction.

The technical bidding offers will be evaluated and analyzed for each sector separately, and the research license is granted for a period of two years, which may be renewed for two periods, and it can also be renewed for a third period with technical justifications accepted by the Commission, provided that the company submits a renewal request at least 6 months before the end of the period.