Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
There was an interesting programme on PBS America (available on Youtube) on gold. Two parts covering history, mining, value and monetary aspects.
Some BMs may find it of interest.
https://www.pbsamerica.co.uk/series/gold-the-story-of-mans-6000-year-obsession/
Lucky Lciarno you are spot on I do need to take a look at investing strategy.
Lol ass far as CEY is concerned it is as close to "put it all on red" as can be.
Thankfully due to the gold price it has paid off handsomelyso far.
My average is 1.06 but that doesn''t reflect buying gains made and dividends received so still very much in profuit.
I really do belive in CEY and that it will truly shine one day but need to temper blind faith with some Rebess and Sotolo logic.
Another kick in the teeth.
I feel such an idiot, my head and all the signs were screaming sell at 227.
However my heart ruled and I hung on. Was iit greed or belief?
I am a holder since 2010, not as long as some slawarts on this board, but this share doesn't owe me anything.
Lol in the face of all I am still in it for the long haul.
C'est la vie.
Tip Update: Buy at 164p
Tip style INCOME
Risk rating HIGH
Timescale MEDIUM TERM
Our previous tip We said BUY at 119p on 09 Dec 2019
Tip performance to date +38%
Centamin (CEY) will produce more than 50,000 ounces (oz) gold less than expected this year after a section of the Sukari mine in Egypt became unsafe to mine.
CEY:LSE
Centamin PLC
1mth
Today change -18.95%Price (GBP) 163.00
The company said there had been “movement in a localised area” of the pit wall and has deferred work in this area as a result. Centamin’s share price fell by almost a fifth in early trading.
Guidance has been dropped to around 445,000oz for the year, down from 510,000-525,000oz. The company said mining from the unstable high-grade area would be replaced with stockpile ore, which contains much less gold.
The question is whether the area of the “movement” will be able to mined later on, which Centamin said would be determined in a new geotechnical study of the area.
IC View
Centamin has struggled with hitting guidance in recent years, although it had seemed these issues were behind the company. Ideally, a workaround is found and the 90,000oz zone is brought back into the mine plan, but there is no certainty this will be possible. But given the buoyant gold price and the group's net cash position, we remain bullish on Centamin's prospects. Buy.
Last IC View: Buy, 210p, 4 Aug 2020
Thanks for the explanation Mr T.
I have held CEY shares since early 2011 not as long as many BMs and should know to ride the swings.
Thought about selling when at 230 but didn't more of a hoarder than a trader.
Gold price apart CEY prospects for later in this year look good.
The new management team seem to have the right ideas.
It really is exciting but with wary eye on the gold price for retrenchment.
It is heartening to see long term holders basking in sunshine at last.
Just had a look at 2019 interim results
a) US$292.4 million from gold sales
b) 224,129 ounces
c) average realised gold price of US$1,305 per ounce
d) interim dividend of US$46.2 million (4.0 US cents per share)
Fingers crossed and best wishes for the coming weekend and for next week.
A similar article based on RBC press release
https://www.miningmx.com/top-story/39577-centamin-may-view-endeavour-offer-with-fresh-eyes-following-rutherford-appointment/
Sadly CEY Management are proving to be duplicitous, lazy, ineffectual and incompetent as ever.
Why are we not seeing spoiler RNSs such as:
If they are confident they will hit guidance production why not disclose production to end November.?
Indicate plans for West Africa.
Be more positive and bullish about new mine developments expansion in Egypt.
Attack Endeavor as a bunch of low life chancers desperate for cash and only looking to prop themselves up with CEY assets and cash.
Plans employ new supercharged experienced competent Management.
True values of the CEY and explain why Endevohe offer from Endeavour is far too low.
The silence from CEY Management is deafening.
Is there any reason CEY could not publish monthly data for:
a) Dore shipped and
b) Gold sold
This would give all investors real time information on which to base their assessments and importantly do away with the present 'cloak and daggers double whammy approach which is proven to be prejudicial to confidence in CEY Management and the interests of shareholders.