The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
https://elbadil.net/latest_news/14-زيادة-في-إنتاج-الذهب-من-السكري-في-ال/ 14% increase in gold production of �diabetes� in the first quarter of this year In the first quarter of this year, the company's gold production in the sugar mine in Egypt increased by 14% to 124.296 thousand ounces compared with 109.187 thousand ounces during the same period last year, while it decreased by 19% compared to the fourth quarter of last year, According to company data released today on its website. The sugar mine reserve is estimated at 15.5 million ounces of gold, making it one of the largest gold mines in the world. The balance of gold ore reserves by the end of the first quarter of this year by 1.96 million tons to 4.14 million tons, compared to the first quarter of last year. "The company has made a strong start to 2018, although the production was less than planned, which was reduced as a result of the transition of the open pit where gold is produced," said Andrew Bardy, CEO of Centennial. "Production is expected to start from The fourth phase of the pit during the second quarter of this year, which will help the company to maintain the guidance of full production for the current year of 580 thousand ounces. The Egyptian General Authority for Mineral Resources has received $ 131 million in revenues from Centamin Egypt for exploration for its operations in the sugar mine in 2017. It has also received about 21.64 million dollars in profits since the beginning of this year until 6 March last year, Valued at $ 11.734 million during the same period. The company receives 55% of Sentium's profits from its operations at Al-Sakary mine after the company recovers the investment costs and receives 3% royalty. The company provides royalties to the Mineral Resources Authority twice a year. In the past year, the company's gold production in the diabetic mine declined 1.1 percent to 544,658 ounces of gold, compared to 551,036,000 ounces in 2016. The company expected gold production to rise by 6 percent to 580,000 ounces this year, at a production cost of $ 555 an ounce. According to previous statements by Yousuf Al Rajhi, general manager of Sentinel Egypt, and managing director of the Sugar Mining Company, the company aims to supply about $ 137 million in 2018 to the Mineral Resources Authority. While the value of the royalty is about $ 22 million. Two gold companies are currently operating in Egypt, the Australian Centamine in the Diabetic Mine and the Cypriot Matzolding, which operates in the Hamsh mine. According to gold production agreements, joint companies are established between the General Authority for Mineral Re
Was not on http://www.londonstockexchange.com
It could be wrong as it is not being reported "officially"
That previous post was from Reuters and not an RNS at 7.15am
Gold Production For The Quarter Was 124,296 Ounces, A 19% Reduction Quarter On Quarter ("Qoq") And A 14% Increase Year On Year Maintains Full Year Guidance Of 580,000 Ounces Total Ore Processed For Q1 Was 3.07mt, 6% Increase Yoy
I watched the video and just confirmed what is wrong with the world....but thanks for posting
Hi Somnamna My last word on shipments as I have now bored myself and everyone else. But you could be correct including these. Following your point about double weekly shipments I scanned the Siko posts and he found 2 on the same day iin November. http://www.lse.co.uk/ShareChat.asp?page=152&ShareTicker=CEY
"U.S. may win the trade war but China will win the currency war" Interesting article about a rival to the swift banking system-- Cross Border Interbanking Payment System (CIPS). http://www.thedailyeconomist.com/2018/04/us-may-win-trade-war-but-china-will-win.html
I agree. It would show a qtr1 increase of 16% on qtr1 2017. which sounds impressive. Like Rebess says they tend to ramp up to year end
Hi Rebess I would be happy with 140k For anyone new wondering what we are trying to ascertain is should the following two shipments be included? 255kg 26/01/2018 https://www.masress.com/elfagr/3940689 29kg 17/01/2018 https://aymna.com/955735 I have excluded these and thus come out with a figure of 130,000 oz t. Siko if you can help that would be great!!
Somnamna I genuinely thank you for challenging the figures. I think everyone should differentiate between the shipments/links that I have posted different to my analysis post. So looking at your/my shipments it is down to which ones we accept. Maybe it was a case of I was spotting shipments all over the place. then Siko educated me about the 2 legs of a shipment and I have deleted any second reference in the same week.
Hi Cowichan We are totally on the same page. If I had said this Friday then I could have affected peoples investing. I actually want my analysis/shipments to be totally rubbish and it is 150k.!! I want the purity to be different or there is a shipment I have missed, which would be a reason to carry on if massively different. On a positive note the prelims were 109k for qtr1 2017 and the sp went up to 1.94 high in the following 2 days. If anyone can explain this please??
This is neither a ramp or a de-ramp post but more of analysis on whether it is worth continuing with posting weekly shipments. I am writing this at the weekend before Mondays prelim data as it will have no effect on people's investment decisions So my Qtr1 predictions based on the shipments posted here; Excluding the shipment on 01/01/2018 and including the shipment on 1/04/2018. Total qtr1 4731kg at 86% purity =4068.66kg=130,810 oz tr So if the figures are so different then I will not be reporting on shipments in future ( advised by Alex, Centamin IR they are innaccurate.) unless the difference can be explained eg based on purity
This is the speedy reply I got back from Alex, centamin IR "Thank you for the well wishes in my new role. I am delighted to have come onboard. It is a great company and great team. I’d be happy to answer your questions as best I can. We are aware that Egyptian / MENA media publications publish the “export” numbers I believe you are referencing. However, these are not Company verified numbers and often materially inaccurate. The Company announces verified numbers, by RNS via the LSE and SEDAR via the TSX, as per our financial calendar, on a quarterly basis, half yearly and annually. If you haven't already, you can register to receive email alerts when these announcements have been published: http://www.centamin.com/site-services/email-alerts. If you would rather not receive the alerts, all announcements can also be found on our website: http://www.centamin.com/media/press-releases/2018 I check on a weekly basis the three platforms you mentioned: LSE, iii and ADVFN. Please let me know if there are other valuable discussion boards I should be observing as well? Hope this is of help. Let me know if you have any further questions."
Hi Robbie Thanks for the great feedback from the AGM ref a mine.. sounds promising. I agree I think an RNS of weekly shipments is over the top. I would, however like access to accurate data that is being fed to the Egyptian media. Maybe there is a happy medium.
Just Emailed Alex (alexandra.carse@centamin.je) the following questions Please could Centamin publish shipments of gold being sent to Canada on a weekly basis?. At present they appear to be published in the Egyptian press in Arabic and I have to try and spot them and also translate them. I have sometimes found differences in the Egyptian press and this can cause misrepresentations.of actual figures. http://www.albawabhnews.com/3027663 (example showing 245kg shipped from Sukhari on Sunday) In your your investor relations role when gauging the views of the shareholders Do you ever read the lse.co.uk Centamin board and /or others (eg advfn and iii etc)?
wall street currently down 700, gold up to 1344
Hi Cowichan Not the highest shipment ever, but they do seem to have squeezed this one in a day early. Presumably to add to Qtr1 figures out on the 9th April. Last year at this point we were over 1.70 sp and in the next 2 weeks went to 1.93. Last years qtr1 was a poor 109,000 (forecasted) .
245kg shipped 01/04/2018 http://www.albawabhnews.com/3027663
Hi Rebess Maybe he's leaving in title but will still be there in spirit.