Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
You are wrong in this one. Sure our dollar earnings are impacted by the $ movements of gold but we invest in a £ asset (CEYs Shares). Therefore Centamin's price is impacted by Cable. If CEY's shares were priced in $ then the share price wouldn't be impacted by Cable but the Sterling value of our holding still would be. No difference.
I thought the update read very well.
Having said a couple of weeks ago after my initial pilot purchase that I am always happy to "pay more to know more", I have just paid less to know more by adding another 50% to my holding at c. 27.9
Gone!
Thank you all for you welcome.
I don't mind a punt punt like to know what I am getting into before I fully commit. There appear to be enough short term catalysts in HUM to suggest now is a good time for the pilot purchase. I took the same approach with Centamin many years ago where although my initial purchase was at 24p, I think my average is somewhere in the 60s.
Cheers
Yes, that's my thinking too. Even if Gold only hangs around these levels for the next 6 months I can see Hummingbird pushing on quite nicely. I should stress this is are relatively small position for me. Centamin had grown to 10% (started investing at 24p!) and I have put 2% into HUM with a view to adding to a max of 4% as I get more comfortable. Always happy to "pay more to know more"...
Good morning all.
I have been, amongst other sources, reading this thread with interest and decided to make an investment here, redeploying 20% of my Centamin holding which is had become uncomfortably large.
The risks are bigger here but, so are the potential rewards, if gold continues to rise as a believe it will as central banks continue to debase their currencies.
I don't have access to the whole story but
"Higher gold prices have boosted the fortunes of Centamin, which yesterday reported a 13 per cent rise in pre-tax profits to $173 million." is so misleading
Average realised price was only $13,000..
I agree with most of what you say and after building up a position since my initial purchase in 2008, am feeling very comfortable with what is now my largest holding.
However, I should point out that Centamin are not going to be benefitting much from the fall in the oil price, for the time being at least. Quotes below
Yeah. Just on the global fuel, the global fuel pricing has obviously gone down, but for us in Egypt, it is regulated or governed by government. So we haven't seen [indiscernible] impact yet on our operation and in terms of how we model that going forward is basically how we set the budget which is sitting at $0.60 for the year.