Member Info for Sotolo

Ilsa I hope you, the team, their families and homes and the mine didn’t suffer too much in the extraordinary rains.

Certainly the report last week presaged horrid political risks both locally and nationally, with poor Peruvians becoming bellicose about the great inflation, which is presumably also affecting Hoc costs which are already too high?

Basket back below $3000 so I am only surprised this hasn’t come back further and faster, with China auto production cutbacks and more important the coming world recession with the high interest rates and inflation, that will presumably reduce auto demand. Surprisingly chromium isn’t down much from March, yet, so maybe holding us up, but reality seems to be dawning today.

don’t worry, you can always buy this cheaper if you hang on so maybe saved a bit by skiing and will pay for it

Yes in this Horgan is indeed bullish about the future, in true Centamin tradition, but then makes one question this by his Panglossian interpretation of this last quarter just gone, his final words “this has been a hugely successful and very satisfying quarter,”.
Well if that is his idea of huge success what misery does he mean by the medium success he expects in the future??
However despite Pardy and Horgan I remain optimistic as long as gold holds and someone is tempted to buy us, saving us from these second raters who just won’t communicate to us owners as it is, as Cowichan keeps banging on about

Yes and silver almost above our next year silver hedge tho this year’s hedge has proved profitable so far but hopefully not for long, for the sake of our unhedged silver

Obviously some people care, actually quite a lot so let’s keep a civilised discussion here, there are always two sides and I think Tibbs is fussing about lying and hypocacy by rule makers, which attitude ultimately affects gold price and hence Centamin, so is relevant to discuss here - I believe that results of the politicians’ and bankers’ ineptitude is leading to higher gold prices. i am also more sanguine than most here about the Weds results, having been the opposite last year, the costs will be horrid but it is the forward guidance I will be looking at, so despite gold may take a few goes to get through $2000 I think, nay hope, that we should be in 3 figures after the results on Weds. Meantime let us respect and listen to each other’s views, even if different, on this rarely lovely board.

Feeling very cheered and relieved, if this is for real; as Posted impossible to say which way it would go, or when the bottom that so many have called would be in, just hope this may be it rather than a bounce. As also posted I have been holding on and haven’t sold since the two tranches I sold just over 40, I now have more than I had originally with an ave price of around 13p, but made back £20k this week, may it keep going

But Viable, as said weren’t the mm’s nice to give us 10p off yesterday and back here quickly as we expected

Dasut, first thanks so much for the knowledge you bring that I much appreciate, second I like you believe that we are getting nearer to better times. Costs will be ghastly but solar should begin to help bit later in the year, and if investors can see a better second half with improved ounces, more important the end of the huge extra costs of this year and last, and a great 2023, and IF gold makes a new all time high, then we may not see 90 again for quite a while so I too am holding, including the extra I bought around 90. Even though a lot of IFS and ANDS!

Viable my hope is that Cey sentiment is so bad and so many investors have sold like you that unless gold falls Cey should begin to recover with the sellers gone, but of course I could be quite wrong. I also think gold will rise a bit more, hopefully to somewhere between 2100 and 2300 during this year before a long fall, but almost impossible to predict, I agree with Prof on PGM prices as fewer cars sold in a recession but overall Tharisa is so good, mining more to make up for it (well recovering chrome anyway). Tiger suggested I also buy SLP at 90p last week which I did, which seems to be recovering nicely , fingers crossed.

Prof always lovely to hear from you and quite agree with your post of 8.44. I have recently bought more Cey that are suffering from past news not looking forward a THS today, more THS and dipped a toe in SLP. Viable kind of the marketmakers then to offer us cheaper shares this morning, I expect this to recover shortly Couple of days as the market turns its ether slow he’d forward, but it has gone a long way fast, 70% since Nov, on similar profits to a year ago as the market finally catches up but been quite a wait. Now hoping Cey will begin to do the same as profits recover next year

I noticed this headline from Nov 2019 “ Miner Tharisa Plc (L:THST) reported a nearly 83% plunge in its annual pretax profit on Thursday, as production of platinum group metals and chrome concentrates fell. The miner last week warned of lower full-year earnings and said it missed its production outlook for the year, with overall platinum group metals production down 8.2% and a reduction of 11% in chrome concentrate output. ‘2019 saw curtailed production at the Tharisa mine, as we embedded our owner miner approach at the asset and redesigned the mining operation,’ Chief Executive Officer Phoevos Pouroulis said.”
Well that makes this last quarter drop seem pretty insignificant and moreover shows Tharisa production does bounce back up as they say it will. So I Ramon pretty sanguine and happy to hold.

So as expected the market has reacted badly initially to this poorer quarter, which is not surprising, but I hope over the next few days they will begin to look forward and believe the story, even if this quarter shows how mining can be interrupted

Reading further, although ounces mined down on quarter one pretty good compared to same quarter in 2021: PGM’s mined up near 25% although price achieved down 15%, and chrome mined up 5%. This quarter ounces should be back up and so should price achieved so could be a stonking year with Vulcan helping chrome. As said question of whether market looks forward to this.

Thanks, so a slightly disappointing quarter but going forward looking good. Wonder if Mrs market will penalise us or look forward?

Sorry if I was not clearer. No quite the opposite, am not at all ok with Centamin buying Endeavour, just if other investors want exposure to W Africa they can buy endeavour or other W African mining shares, I don’t want this so don’t but I have the choice. I wish Cey would stick to improving and adding to Sukari which is why I own it. Thank you so much for holding the board to account on this. Yes I know the area and where Burkina Faso is having filmed extensively in Ivory Coast, which is partly why I am not keen on investing in this area, I also think it stretches Cey management and takes capital that is then wasted. So I wish my Cey money to be invested in Egypt, where I also filmed, and the board concentrate on getting that right, and will diversify myself if I want to ie Hoc in S America

Just to say it is interesting that so many here were so annoyed over my posts of the last couple of years saying the price should be lower as it sadly turned out, and more recently have been poo pooing the stock and management while I, going the other way again, posted a turn and buying more last month and have kept accumulating at the end of the tax year to use cgt gains elsewhere, plus a £20k in the isa on Apr 6th so somewhat madly I have put six figures where my mouth is, and am back up to 567k of them, so just hope I am second time right. There could be one more bad result but the market should begin to look forward to steady improvement I hope….!. The THS I originally sold Cey for, and added to at same time which I also posted, have done even better having started sooner and are up 70% since November and up a third since start of Feb and 15% since start of April. Meantime Hoc has also got going, up a third, so time for this laggard to begin methinks. Moreover I am heartened that the management are writing off useless vanity projects in W Africa, I really hope the company sticks to its knitting as the best way of mining management having fun and destroying shareholder value in my book is by aggrandising exploration projects that are holds in the ground. If we want W. Africa diversification we can buy Endeavour, I do hope Cey sticks to Egypt pretty much now.

D K, hoc has risen 35% from its recent low. Plus you need to add on about 12% to pre December prices for the Aclara split. However you can’t compare the mines share prices now with those at earlier gold prices as costs will be so very much higher

9p isn’t a good price if it keeps falling, as all the other prices people here have pushed all to buy, despite having a large holding I would wait till it turns to add more or to make an initial buy and do so on the way up, a 2p fall at 40p was 5% now it is over 20%, so makes a big difference.