Member Info for Sotolo

The figures are as bad as we expected, but going forward looks better although the promised min dividend for 2022 financial year of nearly half ie 5cents as supposed to 9cents this year just ended, L meaning a 3.5% yield at this price and 1.8% if we went to £2 so end of the days as a high yielder, again as expected. Question is will the market clobber us for seeing all this in black and white, what management had already said, or will it now look forward and despite the lower dividend (again as expected) begin to rise? I expect down before you but certainly no soaring, and we could be saved by gold rising…..or fall into losses as it tumbles below $1500 while the likes of Barrick and most miners still making hundreds of dollars an ounce.
“ As expected, and in line with our three year reset plans announced in December 2020, Centamin's cash flows and earnings declined in 2021 due to lower gold production and sales, higher costs and increased capital expenditure spend. Operational cash flow decreased by 32% to US$310 million, cash flows from investing activities was impacted mainly by gross capital expenditure of US$241 million (predominantly invested in the long-term sustainability of the business). Adjusted Group free cash flow[2] declined by 104% to negative US$6 million, after profit share distribution of US$75 million to our partner, the Arab Republic of Egypt.”

Marmot, my only question is will the journey back begin tomorrow or will the last lot of bad figures upset the market, ie will the market look back with the figures, or forward with the projections, also how bad will the oil and other inflation hit be to forward aisc. Roll on 2023 when Cey should really begin to motor unless gold collapses.

Answer to your question why price is half at same gold price: Disastrous politics with threat of closing all our Peruvian mines, plus huge mining inflation. If politics seems more secure AND we could get a handle on soaring costs partly because of increasing expense of finding replacements fo our exhausted mines, maybe we could get bask, but latest fuel infialino is another big headwind.

I certainly don’t want more Bhargav and sorry you hate me saying it as it is but sadly positive spin can’t change reality as the Russians are finding out. Also I don’t think Brad &board want a lower share price as it won’t help them on the next fund raising which they will need to continue their jolly life. Vicjain, you said you thought you’d never see single figures. Some of us spent years with them and would have been thrilled at the current price which seems fair for now but will hopefully be more one day unless heavily diluted or gold were to tumble making mines here unprofitable

Yes indeed but I had no idea costs might go up 50% reducing profits and hence share price three fold, with gold staying same in real terms. New info new price. Wish we had taken Endeavour now. However maybe next week will see the Nadir and as wall solved costs will fall despite Inflation, however hard to say as Gnome points out. None of us knows what Cey inflation with full exposure to oil etc might be. We may find out
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Next week?

One of the most important rules of investing is it’s never fallen too low so you are locked in, quite the opposite you should cut your losses. There is a reason Brad and the directors haven’t been investing. At the next money raising, which will be necessary, we will be worth so little at this sort of price that we will be very diluted. However I am ignoring my advice as ever, and holding but that is only because this is now 3% of my total shares, and much more than that and I would definitely be selling half

Gnome, sorry about your personal CPI but the big question here is what do you think Centamin’s current CPI is? Gold has risen about 12.5% in a year, (I guess in real terms that is a fall for Centamin whose overall costs may be up further as they were expected, by management, to be up 12.5% this year, it could be getting on for double that meaning a real fall in what they are getting for gold of maybe 10%? So need gold around $2200 for profits to be where they were, Gnome and others what do you think?

Chicken why would Brad ever have bought and why now. He has saved losing plenty of his money sensible man. As breaktwister says of the directors “If they can buy in and don't at this price that says it all really.” Well exactly it does, and I have no expectation of them putting decent money in but instead milking the gravy train paid for by us. Ie salaries expenses fun of dww we als while we lose money… why should they too, especially with their knowledge

I think £8k buy from Brad would just so his lack of faith in the company and be worse than pointless. Given his earnings he must have a pensi9n pot and at least £100k, so I would say an investment of that figure would cheer me up, but of course he has been wise not doing so as Cey heads for single figures.

Scotty I think a bit premature

As said before at £1.50 I would jump at it, but if it ever happened more likely to offer £1.30; I am only sorry I was anti the endeavour takeover as endeavour has done so much better than us over the last two years. The question is does Barrick want a mine that is half owned by the Egyptian government, but it would make sense for them in helping open up Egypt, but so far looks like this is too much of an impediment tho Bristow is good with governments and way better than our lot.

Tornado yes far more ounces but at far higher cost, with $2000 gold now same profit as with gold at $1500 pre cost explosion or last year probably around $1750. Cost is the most important metric in gold mining and the market really hasn’t entirely woken up to the explosion that is coming, hopefully the solar will help us

Prof the problem is it is still going to be next year, and this year will also be horrid, the rising gold price just obviates the increased costs (which will be even higher than expected I would guess $1500+ for this year overall if oil keeps rising). Even if gold could average $2000 we would make about £75k or less which is hardly great given a mcap of ove £1.1m at this price

Sorry it is not Brad but you not doing due diligence. This share currently has little intrinsic value just expectation and hope, many bought as others did pushing it up hoping they wouldn’t be the last sucker. Us long term investors know we are here for years not months, which is just noise, till this exploration is know, plus costs and amount to find out what is viable. The rewards could be great, the loss total. As long as Brad does not waste money and dilute us further with other fun projects for his amusement we are fine. I imagine he doesn’t buy any decent amount of shares as he knows enough of the company to understand the above and isn’t happy to invest in a crap shoot, while I am. However I have 4% of my total in Omi which seems about right, I worry about the likes of Bhargav who have a higher percentage, always saying the price is about to turn up despite it doesn’t, and decrying those who tell the truth as they see it. So my advise is hold a small percentage of your portfolio,, don’t whinge, don’t expect, forget and see if one day you get a happy surprise. Incidentally I have large percentage holdings in the likes of Tharisa that churn out cash - that is the sort of company you should put big holdings imho

This is from the company's rns on the subject, when you want to know just click rns above and you will find one titled dividend. As said it is 5c , to be paid as just under 3.75p if paid in sterling, to be exact 3.74813 per share to be paid a week today

FROM RNS
The currency equivalents of the dividend, based on the weighted average of the South African Reserve Bank's daily rate at approximately 10:30 (UTC +2) on 30 November 2021, being the currency conversion date, are as follows:



Exchange rate

Dividend per share in payment currency

South Africa - JSE

ZAR 16.1259/US$

80.62950 South African cents per share

United Kingdom - LSE

GBP 0.74963/US$

3.74813 pence per share



The timetable for payment of the dividend is as follows:

Declaration and currency conversion date

Friday, 30 November 2021

Currency conversion rates announced

Thursday, 24 February 2022

Last day to trade cum-dividend rights on the JSE

Tuesday, 1 March 2022

Last day to trade cum-dividend rights on the LSE

Wednesday, 2 March 2022

Shares will trade ex-dividend rights on the JSE from

Wednesday, 2 March 2022

Shares will trade ex-dividend rights on the LSE from

Thursday, 3 March 2022

Record date for payment on both JSE and LSE

Friday, 4 March 2022

Dividend payment date

Wednesday, 16 March 2022

Gold is down, so Cey etc are down even more, it will take a few goes till/if gold can break through 2080 into new territory, investors are waiting for that. Also the rise since I bout at £1.01 and finals that hit us less than two weeks ago, has been too much too fast so need to consolidate before gold and Hoc setting off up yet again. I remain encouraged that Hoc has fallen less than Centamin today despite having risen far more. so don't worry....yet and remember the whole point of Hoc is it is an overreacting bucking bronco imho

Looking at the fall today I think investors are worried about how the market will react to next week's much heralded poor results. also although the dividend announced next week should be maintained, as they and you say, this year it is likely to be lower. However to cheer you up Hochchild fell on its results less than two weeks ago and I posted that I bought more at £ 1.01, it has since risen by over 40%. Albeit they had been overhit, however their prospects are weaker than Centamin. So maybe a fall next week unless market has priced poor results in, but then with luck the dirty washing is out of the way and we can even partially emulate Hoc

A tad under 3.75p from memory ($0.05]

Obviously not or the price would be higher. Omi is unaffected by the gold price as it no longer sells gold. It plans to again in a few years but how economic it will be depends on the gold price then, and how much costs have risen. So this is a very long punt and nothing over the last few weeks has done anything to much change the price which seems about right to me given all this. I am holding for 5 years time, but I am patient. However much other post the price should be higher now I, and the market, see no reason for this

Dark just seen your post saying I disappear when price rises, far from it I have made 10 posts here since the 24th Feb when the price fell to 97p and I said it had become too cheap and posted about buying more for the first time in a while. My view of the price falling over the last year or more has proved reasonably right, if annoying to some, I just hope my view of it rising especially on the current huge economic damage, proves anything like as accurate, before a commodities bubble burst drags us down. It may be bumpy but I am hanging on for now.