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Hi ton - Yes, I agree with that. - If the 25th turns-out to be a good news day, it will indeed be an additional bonus. - If it turns out to be so, it will go a long way to restoring my confidence in management and for what the future holds.

DA SUT - A three-miner! - Wow! - That would be some launching-pad. - In such circumstances, our P/E could be on a par with what Randgold's used to be.

Hi Cowichan - I agree with your reasoning. - All I will say is, it is not my logical-me that raises the question, but rather my suspicious/distrustful me and for good reason. - I think you'll be right mind you, however, I claim the right to be sceptical. :-) - We'll soon know anyway.

Hi casparoni - The timing thing crossed my mind. - Why have they not waited a few days to deliver this encouraging news with the Annual report on the 25th? - Paranoid or what, but I'm afraid I can't help it after 2018's experience. I hope the 25th doesn't throw cold-water over this good news. - I'll remain suspicious. - On a brighter note, the prospects of a two-mine operation should in itself cast Centamin in a whole new light. A significant rise in the P/E ratio could be on the cards here. Something that LTH's have been patiently waiting for. Here's to a good 25th.

Hi - What is the purpose of a site visit by analysts? - Is it an initiative undertaken by the company who's site is being visited or is there some sort of legal-obligation connected to such visits?

If a ship is on it's way then St2 must be in the bag. - I mean, they wouldn't put to sea if they thought they weren't going to get paid would they? - Would you with the cost of coal what it is?

The SP is travelling by submarine I think. - It's definitely under-water.

The SP has hit some rough-weather!

It's like waiting for the 'Midwife'.

Hi Milo - Let's hope the batteries have come with it. - (St2)

We're half-way through the 1st Qtr. - I wonder how things are going? - It would be useful to know wouldn't it?
Why won't they tell us like they used to? - I'm still on my guard with this lot. - I mean, a 40% hit takes some forgetting, irrespective of dividend.

Well, China's back in tow next-week. - It will probably make a difference. -

Hi spot - They've delayed Annual/Finals by a month this year. Maybe it's because they wanted to include some news on BF. - We'll see. - I do hope the delay is not for sinister reasons. That is to say, playing for time reasons, in an attempt to manage further bad-news. Trying to be positive, if what we've been told is anything to go by, I'm hoping it's full-steam ahead from here. But, with this lot, and based upon the shenanigans of last-year, you just never know. Based upon the current momentum in Gold, the sector is on the cusp of a reset, just as happened in 2016, let's hope we can take full advantage this time and not have our voyage dashed on the rocks.

Hi Alan - Is anybody disputing that it will be debt? - Unless I've misunderstood, most of the posts have been about the basis upon which said debt will be secured. - Mind you, I might have missed something. I try to keep-up in general rather than read every post.

To me at any rate, being invested in Centamin seems to involve a lot of waiting these days. We're always waiting for something that might be a game-changer. - Waiting for the court-case, waiting for parts for the LHDR, L32, waiting for an explanation as to why Josef sold his shares, waiting for the quarterlies, the year-ends, the revised forecasts and so and so on, all in the expectation that what we are waiting for will be the catalyst that finally launches us into orbit where we should truly be - Are we all deluded fools? :-)

Slightly off-topic but not totally unrelated to SM. - Following todays announcement re further large energy-price increases, I wouldn't be surprised if the sales of yellow-vests increases.

Hi miz - Of course China has already created a gold-standard through 'Eastern benchmark' oil trading. The day is coming when there will have to be a reset of 'The dollar standard' as a basis for global trading. - China/Russia/Turkey are in the vanguard of bringing about such change due to US sanctions against them. Many leading commentators are now advocating such change, including US voices..

On a different note and this comment is UK specific. - Following todays announcement re a further large increase in energy-prices. I wouldn't be surprised if the sale of yellow-vests suddenly takes off

Hi cas - 'if the saleable value of the asset is less than the debt'. - Yes indeed and as you say that is a situation that could arise for 'secured debt but not for 'covered' debt'. - I have a feeling that this is the same road that 'Hitachi' travelled down in relation to the North Wales nuclear-power-station project. - I don't know as such, but they pulled the plug on issues of agreeing credit facilities I believe and this was a project of 'National strategic importance'.

Hi SL & GK - Apologies. - It looks as though I'm getting my knickers in a twist here. - The only 'covered bonds' will be in respect of those covered by IPA guarantee. - All other bond issuance will fall outside of covered-status but will nevertheless have some form of security-backing. - Yes?

Nowt else to talk about so I'll chuck this one in. Perhaps SL & GK will be able to help. - Coverage for covered-bonds issued without IPA guarantee. - GK has already referred to this. - Where would coverage come from? - Under normal circumstances the value of the covering-asset is, at all times, equal to outstanding liability, If it's value falls below for any reason, the issuer has an obligation to bring it back into line. (Top-up) - I'm wondering where the required value would come from in order to meet such obligations. What assets can be pledged that covers the requirement to protect bondholders with 100% liquidity/value in the event of default?

Hu SL - Thanks for that. - My understanding of a CB is/was that the issuer, usually a bank/financial institute, covered the bond with an asset capable of paying the on-going coupon and of sufficient Tier1 value to cover return of premium upon maturity. Said asset to be ring-fenced such that even if the issuer becomes insolvent, bondholders have recourse to ring-fenced asset for outstanding debt. - In other words, cast-iron. - Leastways that's the theory. :-) - You are saying that cover for SM covered-bond issuance would be a cast-iron guarantee from IPA.- OK, I'll accept that, although it's new to me.- cheers