Member Info for Rebess

Well, it is only one of their mines of course. - When you have only one mine and there are problems, you are in real trouble. - Like Hiroshima style.

Hi tun-fran-cen

If guidance is trimmed again in H1 announcement, your wait will have been worth it. - There's been no RNS so I'm assuming it remains unchanged.

Hi somnamna - Thanks for the info and the detailed explanations. - Useful to understand such things.
You relate to the director responsible and wonder what effect it might have upon him personally, ie. bonuses etc.
Since the RNS, approximately £400 million has been wiped-off the value of the company. - I'll repeat that, £400,000,000. - so I think your question is well put.

Will there be a triple-hit? - RNS - prelims - results. - Directors won't feel a thing. A good position to be in. - Painless.

Hello again casparoni.

Yes, I think you make a fair point. - They have been consistent in delivering until now and that is what most of the dissent is about. - We have recently seen what a set-back in production can do to the SP. - Boy have we not. And since it is singularly our only means of income it highlights just how vulnerable we are. - We have progressed from 100% of production coming from open-pit to a situation where we are now expecting 50% of production to come from underground. I would suggest that underground is far more vulnerable to set-back than open-pit. - Can you imagine what a serious underground incident affecting production for say 2-3-4 weeks might do to the SP. - It'll be 'Nuclear' and that is where we're at and that is why, in my opinion, we need protection through having additional streams of income. It is why we need to take a far more professional financial approach to the management of our treasury rather than just saying 'We are not a bank' and giving the money and our advantageous position away. We need a board that has serious ambitions for growth. - As a LTH I'll bet it's what you were hoping for.

Hi casparoni - After management assurances that the second-half of the year will see a recovery/ increase in output, that is the expectation. However, after contradictory statements about production figures in May, resulting in several hundreds of millions of pounds being wiped off the value of the company, the credibility/motivation of same management has been brought into question. - You make your choice I suppose with these truths in mind. - The second-half of the year will tell it's own story anyway. Then, all will be revealed. - As a LTH I'd like to see them come through, at the same time a lot of faithful LTH's have become disillusioned. - The main bee in my bonnet just now is the management of the war-chest we had accrued. - It seems they don't know what to do with it. - We've always given credit for achievement and acclaimed them as top-professionals and yet these supposedly top-professionals don't know which way to turn. As a consequence, we have become seriously vulnerable and our status compromised. - IMO.

Hi Cowichan - Many of the majors now are becoming bankers for indebted/highly leveraged mines struggling to stay afloat. - Financial management of treasuries is now top of the agenda for expansion/growth as a means of generating new income streams, adding strength and structure going forward. - Currently Centamin is walking a commercial tightrope without a safety-net. - Seriously exposed with only one source of income whilst at the same time depleting their treasury through the largesse of maxing-out on dividend payments, thus squandering the great opportunity that was in their hands. - I fear there may be a bigger price to pay here through lack of ambition.. Time will tell.

Hi Market. - A few weeks ago one of my posts was headed 'And it came to pass'. - It was my take on the current system we live in, especially when it comes to the world of finance, the laws appertaining and those who control. - Our prisons are full of petty criminals guilty of petty financial misdeeds, but there's none of the big-boys there. - The perpetrators of financial crimes so big and so far-reaching that they have changed the fate of nations. They have impacted the lives of millions of citizens and yet nobody has gone to jail. - Why is that? - Because, 'It has come to pass', it's OK to do it, the green light is shining brightly. - When a handful of powerful people control the levers, especially the law, there's nothing we can do about it.

In all fairness to Sisi, I think he realised that something had to be done to attract investment but has been trumped by the present system. - I note in Cowichan's report that Egypt has 7 million public-sector workers out of a population of 35 million. - 1 public worker for every 5 head of population. - USA by contrast has only 2 million public workers covering a population of 300.million. - This isn't the land of the Pharaohs, it's the land of the parasites. - The status-quo suits very well those with their snouts in the trough.

L32 would go a long way in erasing such fears. - There's only one problem - The legal system won't wear it.

Hi Mr Bond - Agree. - The legal system as presently constituted seems to be an impediment to the attractiveness of any company wanting to get into bed with Egypt. - As has already been demonstrated on numerous occasions, not just Centamin.

https://uk.advfn.com/stock-market/london/capital-drilling-CAPD/share-news/Capital-Drilling-Limited-Trading-Update/77829225

It may have already been highlighted here, not sure. - Link above re London capital drilling refers to a new production rig being installed at Sukari. - May be something, may be nothing but since it's quiet it's something to read. - cheers all.

ton-fran-cen - Hi.

Indeed >400 required - Given the reassurances they've given us, they must be confident of an uplift in grades. - There's one thing for sure, the second half of the year will tell it's own story. Then we'll know where trust lays.

Hi sparkle - Thanks for the info. - Encouraging. - Best news we've had here for a while. -cheers.

Precious metals futures expiry Thurs. 26th. - Once they are laundered and hung-out to dry we might see some lift in POG. - Might!

Hi Tiger. - I think it likely that if they delve too deep it'll open a can o worms that will have implications far beyond Trump. And that includes UK and Europe.

Hi Somnamna - Imagine the uproar if there is the scrapping of production-share but where licences granted under said conditions remained valid. - There was always a suspicion that this might happen and that some of the applicants were aware of this. - Lord dear lord! - It would leave Centamin with egg on it's face. - IMO

Hi Sotolo - It's a frustrating share to be involved with this one. No doubt as a LTH you've experienced them all in your time. - The other day you asked whether the P/E ratio was calculated before or after profit-share. - As profit-share is treated as a cost of business expense (I think) the P/E metric is calculated on gross earnings and therefore does not take-in profit-share. - It's a good question though and if I'm wrong I'd be grateful if someone with superior knowledge could enlighten.

Hi tibbs - I'm concerned about Q3 and how reliable their assurances prove to be about restoration of production. - As has been pointed out earlier, we need some pretty good numbers to come through now to fulfil said assurances.
Credibility and trust on the line so far as board of management are concerned. - And if they fail/mislead again, then what? - Well, for a start, it will be shareholders who will have to bear the pain again.

Auson - Hi. - Your suspicions re latest gold-shipment. - Can you expand on that? - It might stimulate a discussion on the topic. - Hopefully.