Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
There is obviously a major effort underway to keep the share price down. It will be interesting to see whether the management is complicit in this. How overcautious will the statement on 12th be? I am expecting an opportunistic bid for the company in the next 3 months. It will prove to be a complete steal!
We might have seen the bottom today. 9.0 million shares traded including 2.2 million in the auction. I`ve kept pretty quite recently but if this is the bottom I`ll have a bit more of say about the goings of of the last month. A bit of skulduggery me thinks.
"A profit warning occurs when a company advises shareholders and the public its earnings results will not meet analysts` expectations." As stated above the company has today issued new parameters whereby analysts have adjusted their expectations.
I agree. Just some party moving the market for their own gain just before the London close.
Looks like someone wanted to hit the UK quoted oils stocks just before the close.
I`ve just come off the conference call. The big news is that there will be an acceleration of Cleopatra which is likely to be impacting in 4th Quarter and will be highly significant in 2019. Andy has promised an update on this hopefully before the end of this quarter ie 30th June. We can expect production numbers for 2019 to be materially effected. The 34 page presentation is now on the website and worth looking up.
Dasut, On this point the directors were asked at the AGM whether there was any one with experience in Egypt they went to seek advice and make representations on their behalf. To my surprise they named a high ranking former official who they did use in this capacity on a non remunerated basis.
Divhunter, Glad you find the board useful and thanks for those comments. I have a fairly significant stake in the company and have owned shares since 2003. I`ve spent a lot of time thinking and studying the company and talking to management when the opportunity arises. The thoughts that you have put forward are scenarios that I too have worked thro`. However, we are in a extremely frustrating place because of the situation in Egypt. The authorities are unable or unwilling to remove the unjustified cloud over the company`s title to its resource. Also over the last 12 months a number of African countries have adopted a strategy of trying to change the conditions under which established miners operate. Our current p/e is 15 and I think it should be round 28 ie. the share price is around half of where it should be. Goldman Sachs in its latest research described Centamin as "best positioned gold company in our coverage" and went on to state that it has "significant free cash flow yields to come supported by a favourable position on the global gold cost curve". Centamin as it stands is their top pick in the gold sector. The company is diligently and with some intensity working thro numerous prospects in West Africa. After the AGM I reported that the first mine would be at Doropo. Professionally they need to do all the necessary due diligence before making an announcement and it will be the first of several. We also have to appreciate that Sukari is a well class resource and it will always be the key asset. Now regarding acquisitions the company have always said they are prepared to look at them. My own experience is that there are plenty to problem mines around the world that could potentially bought up and put right. Over the years I `ve invested in some myself and lost money. Most of them have problems which management claim they can fix but reality shows otherwise. On balance we have quite a lot on our plate but if an outstanding low risk acquisition came along we should take it.