Member Info for Sotolo

Mr T you know what I think of Maguire and the other salesmen who alway seem to say gold should be higher as they try to sell the stuff, his website pushes: “you can now trade physical gold, silver and platinum wherever you are using our online platform in the same way that you would trade stocks, forex or futures.” I feel the same about analysts who move in a herd working in stockbrokers keen to sell. Best I like the views of people like us on this board, and all the other, other investors who make decisions to buy and sell putting their own money on the line; it is lovely that more of them have thought it worth buying lately and for me far more valuable than Maguire or analysts. Have a lovely weekend all and pleas keep your varying views on gold and Centamin tumbling in.

Safely invest in the precious metals of your choice

You are right all mines run out and as they do all their costs rise but Hoc is doing more so than most and is nowhere near being tier 1. “Many people” who buy or sell was I thought obviously investors and I will use that term in future if helpful. They are the ones that count for me, not analysts or pundits who all have their own agenda but people, sort investors, putting real money on the table or taking it off. Have a good weekend all. Ps just listened to the post results presentation which seemed to say the rare earths were delayed and a bit more difficult than thought if I understood it right which might account for some people, nay investors selling, any thoughts?

What else do you want Bhargav, my correspondence with Salazar, how I had 1.1m, how I sold a bit over half to make a £70k tax loss when I sold my company, how I rued that when the price turned up, those I sold a little above 40 but bought back around 30 so far too soon and tied some more. I reckon I must have 50 contract notes over many years but if you post your email I’ll send you a copy of the first. Loads more if you want, I am glad you find my ineptitude over the years entertaining. Overall tho I am now around £50k up on current lot so 2/3rds the way to breaking even on this 17yr rollercoaster, wouldn’t miss it for the world even if it gives much misery and all the funny rampers who think they can believe or post the shares up when it is finding lots of gold that is economical to mine that will do that or not. Lol

DRYLAND, I still have about 650k Omi, but it is the 5% of my portfolio I use for pure speculation, I believe it could go either way but if £1 is 20% and 1p 80% are likely, the gamble is worth it as choice of making 6 fold or losing it. I just try to explain why it is following the down route and it just annoys me how many are drawn in here with important savings thinking the price ‘should’ be higher when it isn’t because of the reasons I point out to try to balance the argument. Of course I as much as anyone hope it will soar, but think falsely optimistic posts are ultimately as bad for the share price as falsely optimistic management ones as just contribute to the pump and dump that hits small and somewhat innocent savers at the expense of the pros. All the best

Thanks OWLS, interesting to note that most of the decline and mines running down have been silver, so we now mine nearly 50% more gold ounces than silver. Shame as the silver has been more profitable. Hoc is now mainly a gold miner, so even with half our silver hedged only 20% of our overall ounces are hedged. We should move with the price of gold much more than silver as gold price movements with the hedging are bout 5 times more important to Hoc than silver’s but the market always takes a while to catch up. Also was it new in last week’s report that we had not only hedged silver for 2021 but also 2022 at a slightly lower price, as our main silver mine Pallancats’s costs are so high the board worried about it slipping to loss when silver tumbles as many expect it will.

Yes mine news Is often delayed but why promise news at Easter just before Easter, why not promise then there isn’t disappointment when it doesn’t come, which is as you say not unusual, then share price doesn’t fall as much; all I am saying is the board could manage expectations much better, rather than promising too soon

I invested in Uruguay minerals as OMI they was, ticker UGY, because they were mining cheap gold in Uruguay only it turned out to get more and more expensive till the mine went bust. I hold on out of amusement as yet another spinning MD runs the show. However how can he announce positives when there aren’t any just now, as far as I see it he is already over promising as Salazar did, and he keeps promising an rns soon but it doesn’t come and when it does is less than spectacular. Newmont and Agnico may have a wealth of experience but all they have done is put a very few chips on Orosur at great odds, along with a few chips on plenty of others, they only need one or two to win and they too have little idea if this one turns out feasible, nor does it matter, it is a cheap exploration punt for them. For the likes of us it is a great and amusing gamble that could as easily seee 100p as return to a penny stock.

The problem is the profitability, Hoc is a high cost mine getting more so as scrape the barrel, Arcata already closed as too expensive, Pallancata and going the same way so hedged as if silver fell would be losing money, but means we don’t benefit from rise; they have to spend a lot on exploration to try to replace depleting resources pushing costs up further, plus threat of nationalisation in Peru, and capital export controls in Argentina. So all in all Hoc probably valued about right, especially after lacklustre figures yesterday imho

Luckily brexit doesn’t affect our share price now other than it affecting the pound rising or falling, so not really pertinent to Centamin, or arguing about here, or other than if you think it will go badly how much the pound will fall so Cey rise comparatively and vice versa. Far mor important our results, the ounces and costs, which turn out to be once again a pretty damp squib, with no new news other than slightly less than expected costs this quarter, more than made up for in the next three quarters, moving the price neither way

Sadly POG doesn’t really affect us as more dependent on what we find or don’t and for that we have to wait as the price steadily drifts from the excess of sellers over buyers

MM’s just make a price where they can both buy and sell so ultimately the price is falling because more people want to sell like the bosses than buy, we just have to hope those sellers are wrong in their expectation of PM’s and hoc, sadly so far they have been proved right

Well Omi is as ever the grand old duke of York, clever tho to raise all that cash to burn away while the price was higher, if now would probably be around 12p; let us hope it delivers something to us and those that we’re persuaded to buy in.

Thanks Mike, your presence and post much appreciated; so the first half figures will be based on the PGM prices jun-nov/dec when the main contributor now, Rhodium, was getting on for half what it is now, but our second half should be stonking as already mostly baked in? I

Yes prof the forward figures from management not me have always explained the share price fall, and current price; free cash flow on their figures as I have said could be negative this year and the reduced dividend paid out of savings. However as also I keep saying (also annoying some) 2023 should be great and as Tornado says the bit of capex on solar should contribute to reduced costs, greater profit, and if we get back over 500k oz a tier 1 mine. So as long as no more setbacks next year the price should begin too anticipate 2023, or maybe creep up sooner?

Prof. Aisc of $1091 for this quarter is indeed lower than expected, however first the annual aisc is little changed at $1150-$1250 (top end identical), read further down and that is because of lowering capex just in first quarter. Overall capex for the year will be a staggering $225000 which I make around $500 an ounce on top of normal expenditure to get gold out of the ground so v little profit. It really depends how much of this capex goes into stuff like solar that save money and how much is remedial works. As posted earlier this week you know ounces don’t really bother me as the costs are so much mor important (tho the two are related) tho I know Mr T disagrees strongly with this. So where does this leave profits, wait for the call? Nothing again on new concessions or W Africa?? Overall much as expected but with lower costs over first quarter maybe higher over year, nothing too nasty, like Hoc this shouldn’t have a dramatic effect on price. All imho

I do too and forgot, how nice tho not up with Cey divi It should fall by exactly the amount of the divi but usually slightly less especially if solver rises a little more tonight

Yes we have made up the prefigure fall of the last few days which expected worse, these are just as expected so back where we are tho still a bit lower as some of the return is rising silver and gold. Can’t wait to hear the presentation

jpm?

Found results. Says available later. bonker gold price now twice as important as silver with the hedging as only quarter of profits from unhedged silver

Anyone have a link to Bustamentes lunch time presentation, can’t even find anything on this mornings results on Hoc website?