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Thank you for the information Cowichan thats another couple of interesting pieces in the jigsaw, very incouraging. Dare we hope for some good news soon? Management keep saying that they are not a bank but have been sitting on a large amount of cash for years earning zero returns for the company other than the perception of being a bit of a comfort blanket for any nervous investors, but to put this cash to work on another mine would do wonders for the sp. I don't know if they've been sitting on their hands in the hope of something closer to home which is all well and good but eggs and basket spring to mind. I appreciate that good planning is key to a successful/ profitable mine so hopefully they've done all this and are now very close to pulling the trigger on Burkina Faso ✔
Hi Cowichan, im glad that you mentioned the cleopatra incline as i was having the exact same thoughts, no real news about whats happening after all this time? It took 6 years to build the channel tunnel measuring 31 miles so perhaps after 3 years they've secretly gone under the fence into the forbidden zone! ( shshsh don't tell Alfrahany) I know very little about mining so I could be completely wrong here but it did cross my mind that when the underground drilling rig went txt's up last year did they borrow or cannibalised the drilling rig from the cleopatra development ? Apparently the underground drill rig had broken down several times earlier in the year so if the machines were similar perhaps taking parts from the cleopatra rig stopped progress completely to try and keep the underground production going. Im probably completely wrong about this as they could be completely different types of machines but it was just a thought.
I fully agree with everything that you have said mr t and i would really love for this to be looked into, however i fell if this was to happen there would be no winners, we would could all be worse off. But if you fell strong enough about something then you really should go ahead and file a complaint. I am merely giving my thoughts.
Whilst i fully agree that it does look very suspicious about the chairmans dealings, but do we really need another legal battle? and would it change what has happened? I wounder what would happen to the reputation of the Centamin management and also the share price? As investors we've all paid dearly for this drop in production so do we really need anymore bad news?
I think that other mines in Egypt will be good news for Centamin. It will attract attention from the markets and it should demonstrate that Egypt is now a safe mining friendly jurisdiction. As we all know with Centamin it dosent matter how good the fundamentals are, its market perception that will be the main driver. Im hopping that some of the bigger players will eventually buy out some of the newbies to replace their depleting gold reserves and with it bring some credibility to Egypt.
Can you believe it , this is the 15th conference of this group and what exactly has Egypt achieved! One mine which they then allowed a criminal to throw under a legal bus and couldn't be bothered to even call for an ambulance despite this one mine contributing more than 3% to Egypts gdp. Al-Sisi opened the 15th Arab International Conference on Mineral Resources and its accompanying exhibition, which will be held in Cairo for three days under his patronage. The meeting will be chaired by Minister of Petroleum and Mineral Resources Tariq Al-Mulla under the slogan "Mining Investment and Economic Development in the Arab World" . Minister of Petroleum and Mineral Resources Tariq Al-Mulla stressed that the presence of the Sisi president and his sponsorship of this important regional event for the mining industry on the land of Egypt reflects the support of the State and its interest in the mineral wealth sector. And a clear vision in recognition of the importance of this sector. Minister of Petroleum and Mineral Resources Tariq Al-Mulla stressed that the presence of the Sisi president and his sponsorship of this important regional event for the mining industry on the land of Egypt reflects the support of the State and its interest in the mineral wealth sector. And a clear vision in recognition of the importance of this sector https://www.vetogate.com/mobile/3364059
Thats really great news siko, the difference that you and your friends are making to the lives of these children is incredible. It really is heartwarming to hear about the work that you are doing, please keep us updated when you can. And thank you for the news regarding the payments to Emra, I've been trying to find the shipment details for this week on vitogate.com with out any success. With a 9 million payment for October things are definitely back on track. Regards spot 64
Hi rebess, yes you are right that's what I was thinking about. You could be forgiven for thinking that were not quite out of the production woods just yet given the lack of shipment details, that's why I was thinking of using the back door so to speak. As we know Centamin pay Emra a payment each month based on profit so this would give us an idea as to how well production is going, but I've no idea as to where our good friend Siko found this information from ?
Cant help feeling that if gold was going lower that it would have done it by now. Despite record shorting and the usual summer doldrums its still managed to hold just under the $1300 mark. Cant imagine that we will see $1060 again as that would put 2 thirds of the world's gold miners out of business and with that comes a gold shortage. Can you imagine the cartel having to fulfill gold contracts with physical gold costing them more to buy than they're selling it for, i dont think so, and the cartel are not stupid.
Interesting read, thanks somnamna. With record shorts leveraged up to the teeth its just a matter of time before the usual summertime slump comes to an end and some shorters begin to loose their nerve and have to close their positions, this in turn creates a snowball effect panicking the shorters into a record spree of buying back of all the gold they've borrowed. With record shorting and its magnified effects on the gold price, i think the gold price has held up prity well in my opinion.
2 gold miners worth investing in.
Ibet you can guess who one is!
https://masterinvestor.co.uk/equities/2-gold-miners-to-soften-the-blow-of-a-us-china-trade-war/?utm_source=Daily+Bulletin&utm_campaign=b4d7d78275-Daily_Bulletin_20180723&utm_medium=email&utm_term=0_25eff0bb7f-b4d7d78275-48542517
As most of us already know, Siko works really hard to help the poorest and deprived children in Egypt. Any money that he made from investing in Centamin went to help these vulnerable kids. He is a vey kind and decent man who worked incredibly hard over the years to find out accurate information that has helped all of us despite the recent drop make a lot of money. Even though he had spent hours and hours finding information for us he felt uncomfortable mentioning his charity work. But i don't mind mentioning it. If anyone could help Siko's work and give something back to someone who has helped so many of us then here's the link. https://www.gofundme.com/2dj3maew