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Martin Horgan and his team are doing an ok job with regard to Sukhari mine, but then they should do. That is their job and the they are being paid to do it.
The “Elephant in the Room” is monetization / development of the 160km2 and the new concession. Progress in this respect could have a big impact on CEY share price.
Demonstrable and substantiated focus on this from Martin Horgan and the (very quiet) non-executive directors on development and monetization is a key to unlocking this potentially valuable asset.
Time to get a wiggle on and not for sitting on hands.
Time to get a wiggle on to reach 500,000 oz.
Year 2010 83,432
Year 2011 202,699
Year 2012 262,828
Year 2013 356,943
Year 2014 377,261
Year 2015 439,072
Year 2016 551,036
Year 2017 544,658
Year 2018 472,418
Year 2019 480,528
Year 2020 468,681
Year 2021 407,252
Year 2022 440,974
Year 2023 Guidance is 450,000 to 480,000 oz
Sotolo, Razors, SteveJ, 3Bear et al, all good points as far as production from the existing Sukhari mine is concerned but for me a big factor that could bump start the share price is to get a wiggle on with developing the 160km2 and the new concession. Dare I say it even JV with other companies to accelerate development of the new concession.
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....and meanwhile CEY sharer price drifts lower.
It is now 2023 and despite management promises and vast amount of shareholder funds they have expended I am still waiting for the wonder.
Thanks for the information Siko, it certainly puts a slant on the way the ruling may go.
With potential of Law 32 being ratified and entry of the Saudis into the Egyptian gold mining market I hope these developments don’t result in a take over of Centamin, especially given the abject failure of Centamin / Buchanan to promote the real value (jam tomorrow aspect) of Centamin and for this to be reflected in the share price.
Thanks for the information Siko, it certainly puts a slant on the way the ruling may go.
With potential of Law 32 being ratified and enrty of the Saudis into the Egyptian gold mining market doesn't result in a take over of Centamin, especially given the abject failure of Centamin / Buchanan to promote the real value (jam tomorrow aspect) of Centamin and for this to be reflected in trhe share price.
It will be interesting to see if the judiciary in Egypt vote to limit the the coverage of their powers and rights to claim.
The following is an extract from Extract from a report in Stanford Journal of International Law entitled Egypt's Ban on Public Interest Litigation in Government Contracts: A Case Study of 'Judicial Chill'
1) PIL proliferated in Egypt because of the lack of good governance, particularly the absence of an independent anti-corruption body during the privatization program.
2) The promulgation of Law 32/2014 is an example of “judicial chill”, where the government forecloses the courts’ review power in the name of foreign investment.
3) Law 32/2014 curtails the fundamental “right to petition the courts” as laid down in the Egyptian Constitution.
4) Instead of limiting PIL, Egypt should address the widespread and institutionalized corruption in government contracting as the root cause of the disputes, by establishing an independent anti-corruption body and streamlining government contracting.
5) Egypt should consider explicitly allowing for citizen suits in the area of human, labor, and environmental rights' to overcome government inertia and corruption.
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2578819#
Well noted Dasut, a similar situation existed in the oil and gas industry until it was reaslised how easy it was to tilt a contract in the direction of a fvaoured bidder, be it at company level or by management in their own, often personnal interets .
Well noted Goldnome re fleet avaiability, I would have expercted that to be a techinical crieriteria balanced against need for early start and price diffrerential.
My feelin g on the waste contract is Centamin through Buchanan could do a better job of informing and communicatiing, espcially the costs v future benefits in more detail. This way Shareholders could understand better the rational.
The announcement refers to "competitive tender process" but not a two stage competitive tender process (with seperate technical / contractual and priced envelopes) which is good practice for technically complex major contracts. By two stage I mean the first envelope is opend first and evaluated and aligned for technical and contractual complaince and only after all bidders are aligned is the second priced envelope opened then the contract is awarded to the lowest pricxe technically acceptable tenderer. i.e. all have priced on the same technical / contractual basis. Single stage tendering mixes technical and price aspects and is open to abuse, hence the reason for two stage tendering. Buchanan are not giving the full story.
The one thing Martin Horgan and co have significantly failed to do is improve / talk up the share price.
Spent lots of shareholder’s cash on good stuff for the future and longer term but zero SP increase in the shorter term Ideal situation for a takeover. My worst nightmare.
Other gold miners are good at self promotion why not Centamin. We need positive focus and statements in respect of value added for cash spent + good news as and when it occurs and not just dry formal statements. Martin Horgan, in this respect, and the communications team are failing badly.
Watchdog blasts London Metal Exchange over nickel trading debacle https://mol.im/a/10733065 via https://dailym.ai/android