Member Info for spot64

Ultimately it benefits both Egypt and centamin if good grades are found outside of the 3km area.
Some of It could be exploited using existing plant and machinery so everyone's a winner, little to no capex.
It just wouldn't make sense to take the 160k away from centamin, just to give it to an unknown who would need a long time and a large pile of cash to get to where centamin is right now.
Im confident that Emra are as eager for centamin to expand outside the 3k as we are.

Hi rebess, glad you said that because that was my understanding also.
The 3km site that is currently being mined is not in dispute it was only the area outside of this ie the 160km that was challenged.
It was never an issue with the government just one judge who agreed with our good friend Alfrahayne ( not sure how to spell his name)
Which put us onto the Egyptian legal treadmill for every and a day.
It cannot be any problem as centamin have been doing exploratory drilling outside of the 3km zone all with the governments blessing.

Hi cowichan, ive just read your post and I'm trying to unpick the Egyptian legal language.
So am i right in thinking that this is law 32 in a different disguise?
If so and its a BIG IF would it be just applied to all new contracts or could it be applied retrospectively.
Very interesting, excellent find cowichan thank you.

The way I see it , If Endeavor had any inside information regarding centamins grades and current production ( and i believe that they do have this knowledge given that they have ex centamin management working for them! ) then im guessing that the grades/production is improving or Endeavor would have waited until Q4 production figures were published and we get the usual spanking giving them a better chance of a merger.
So im quietly confident of somewhere near guidance. Spot64
Welcome back Siko

I wonder at what point the Cleopatra incline is going to come up trump's, ( not the Donald type)
Perhaps management are banking on it being Q4?

I hope that siko doesn't mind but ive copied his update from the go fund me site for any one that doesn't know about the fantastic work that siko does.
In this world of endless bad and negative news it really does cheer me up to read about the work that siko does.

Dear all,

I have just come back from Egypt after spending the summer there and just wanted to tell you that things are going extremely well.

During the summer, it was Eid time in Egypt, which is like Christmas in England. We managed to give many desperate children new clothes, toys and good food so they could celebrate and enjoy the festive period the way they should.

We also offered financial help to some families with children so they could have a break from the tough life they normally have.

We bought a lot of milk for babies whose families could not afford to buy them milk.

Also helped towards the treatments of some parents with young children so they could be around for their children.

Overall, it was an amazing summer and I came back very proud of what we have done and feel lucky and thankful for what we have...

As you know, I stopped accepting donations here, so this is not to ask for money, this is just for your info as you were very helpful at the begining of this project , so I thought to keep you up to date with our work.

Thanks again,

Siko

With the gold price making great progress, it should now be begin to catch the attention of the herd?
This is an excerpt from an old post by marmot74 and even more relevant than ever.

"The reasons for holding gold are moving rapidly from optional to imperative. Take heed of the advice of Ray Dalio and Stanley Druckenberg. A 5% portfolio holding of gold/mine shares is prudent. The US average is 0.4% and for UK investors even less than that."
So If only a small % of the heard decided to take some cash off the table and have even a small part of their portfolio in gold/miners the potential upside will be immense.

Patiently waiting for the sound of hooves Spot64

Hi cowichan, thats a very interesting theory regarding re negotiating the licence at sukari.
So lets assume that the Egyptian government could come up with a new mining law that was better than or even equal to centamins current licensing agreement and centamin signed the new agreement then i would think that this would nullify the old agreement and with it the court case!
( it doesn't cost anything to dream!)
Good luck with your charity work siko, i hope it all goes well.
Regards spot64

This sentence suggest that the figures would have been higher.
"Gold sold of 112,764 ounces, was 5% below gold produced due to timing of the closing weekly gold shipment."
So we should be off to a good start for the next quarter

Goldman Sachs increase their gold price forecast for the next 3 --- 6 and 12 month's. 3 month was $1350 now $1450 6 month was $1350 now $1475 12 month was $1425 now $1475 https://www.forexlive.com/news/!/goldman-sachs-update-their-gold-price-forecasts-3-6-and-12-months-20190625

Another thing regarding the free shares, when they decide to sell them for what ever reason tax etc. we take yet another slice of sh#t pie to swallow when the sp dips! Wouldn't it be better if they were paid purely on performance and then bought shares on the open market demonstrating confidence in the company by using their own cash and not just something handed out.

Hi cowichan, you remind me of Andy Dufresne from the shawshank redemption! I have to admire your tenacity. Hope it doesn't take you as long as it did him.

Aa a long term inmate of this share i will always be grateful to siko for his help during the dark days when the real brown stuff was hitting the fan!!!!. For anyone that doesn't know the reason why siko invests in centamin, its to try and make money for the charity work he does to help children in Egypt. There's not enough siko's in this world. As annoying as the current situation is i believe that things will get better.

Centamin is pleased to announce the appointment of Dr. Sally Eyre, B.Sc., Ph.D., DIC, as an independent Non-Executive Director, effective 10 April 2019. Dr. Eyre is a mining finance professional with extensive experience in global resource capital markets and mining operations. As a geologist, obtaining her doctoral degree in Economic Geology from the Royal School of Mines, Imperial College, London, Dr. Eyre brings strong technical balance to the existing Board composition.

Being a glass half full person I'm inclined to have the view that yes management were asleep at the wheel last year, and for what ever the actual reasons were we can't be sure, only they will know the real truth. Having narrowly avoiding crashing the Centamin truck I'm sure management have had plenty of strong coffee and opened the windows for some fresh air! and are now focused back on the job. I think that it would be suicide for management to repeat last year's cock ups and miss guidance again so I'm thinking they've looked at whatever the problems where and made sure that there's plenty of petrol in the tank just in case, hence the very cautious guidance numbers. So whilst we struggle to swallow last year's meagre rations I honestly think that it's jam tomorrow for us all.

My guess for tomorrow is the same as rebess, a conservative 520 to 540 leaving plenty of petrol in the tank for any unforeseen problems. News about the start of gold production on the Cleopatra incline. Mine Resource update. A teasing paragraph or two about West Africa using words such as significant, finalising, update soon, ect, without actually saying when!. New management appointments, ( more mouths to feed) And perhaps news of further exploritve drilling in the forbidden zone due to exciting early drill results. Oh and I almost forgot the court update! Just in case you didn't know " the legal problem is on going and has the potential to be lengthy but were confident of a satisfactory outcome " No sh*t Sherlock!!!!!!!

As we all know owning mining stocks is a geared play on the gold price, but for a while now the miners have been lagging golds price increases. It was as though investors weren't sure that golds movement was strong enough to break golds resistance points. Perhaps confidence is now beginning to return, and miners are playing catch up? Couple this with the good news that we have just had and probable good news next week, im hopeful for a continued steady rise.

Hi tibbs, I fully agree with you on the use of water in Africa but my gut feeling is that Centamin appear to be an ethical company based on the way that they've supported local communities around the mine with various projects such as donating and installing Centamins old power plant in the local town ect.

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.