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Don’t do Hochs due to stamp duty- Sotolo does, so may be able to answer- going well today like fres as silver up a lot
Yep that’s it- when the RNS came out I checked same last year this time, volume of share increased though.
Https://www.marketwatch.com/economy-politics/calendar
Remember- key data in the US is tomorrow but FTSE shut- so only you can decide…
GLA and Happy Easter :-).
You are a trader as you traded, well done Paul- I did post when the price dropped at the time when you posted I would not be concerned :-).
Be proud of trading, else why did you post?
Others, mentioning no names Mr T and his mate, just troll centamin constantly on the board.
Hedge was put in place:
• Gold price protection programme implemented for the twelve months to June 2024, with the purchase of put
options for 240,000 ounces of gold at a strike price of US$1,900/oz
Gold was about 1,950 at the start.
Dropped to about 1,820 low on 4th Oct (eveyone was praising Horgan at this point)
Gold rose back to 1,900 and above from around mid October
You can do do the maths on the cost of the hedge against oz sold.
As I said earlier - it was needed due to the company position at this point.
In his defence, at the time cash flow was not looking good- available apex continuing to drop, many experts were predicting lower gold (I recall Sotolo posting an expert who was also wrong). At points in the hedging time gold did drop a bit so would be interesting to see the real cost v benefit of the hedge. Had gold dropped (beyond the threshold) with no hedge, cey would have had to dip into the loan facility or at very least close to it and there would be no dividend whatsoever.
to bring us to now- giving away more than the current divi would be irresponsible based on their figures and would have sent the share price lower for sure.
Https://www.marketwatch.com/economy-politics/calendar
As you will see, unfortunately the key data is on Friday when the are shut.
Softer data would be good, but there's a risk if not good, not so good.
Mr T, everyone is well aware of Egypt issues, and bonkers for you to think than no one on this board isn’t aware of Maguire and all the other negative commentary - you’ve repeated this continually on this board.
Well done Sotolo!
And getting there Paul.
:-).
Mirroring gold movements, albeit a tad delayed. For what it’s worth, it’s overdone.
I wouldn’t be overly concerned.
Liberium cut to hold- they’ve a pretty good record here (alas for some).
He’s too busy counting his Krugerrands Razor
Thanks Paul- coffee before tee off time lol.
You did very well getting back in.
Good to see the market agreeing with my view of the RNS :-).
Laters.
PS off to golf now so anyone who is on the 08:30 call- would be grateful for any views.
Hi Sotolo,
This is also key, completion of fiscal drain item-
"This year capex at Sukari will be US$215m, plus US$91m of sustaining deferred stripping reclassified from operating costs. This includes the final phase of contracted waste-stripping programme which is expected to be completed during the middle of the year. Other investments include the grid power connection project, fleet expansion and underground expansion which will combine to support long-term production rates of around 500,000 ounces per year and improved margins."
I appreciate this Sotolo, but it would have been HIGHLY irresponsible to keep the divi high over the recent years based on the figures.
If you think the SP is low now it would have way lower has had they kept the divi higher- simply unsustainable -
For example you go getting a debt facility capability and at the same time dish out high divis when the cash pot was in the decline.
Would have been viewed by the market as bonkers.
Anyone relying on a miner as a safe bet for divis needs to take a serious look themselves- very high risk.
Blimey- what a bunch of gloom merchants!
Have you read the report, EBITDA up 25% and so on?
I'm glad the divi is 2cents, would have been irresponsible to have gone higher when you look at the report detail.
Traded a lot since then Paul.
Too busy to post all trades.
You must have realised when I was in and out and in and so on from all of my posts since then :-).
You know I post on data point and frequently post these points.
I went 50/50.
Will dive in early if good on other 50% or sell off the 50% or hold it if not so good.
I hedged as wasn’t sure with double whammy of fed and RNS.
So far FED done their bit- biggest upside was no change in dot plot which surprised.
Hard to comprehend anything other than good results tomorrow- not one person on this board disagrees with my morning post- and no one said results was surprise to the downside.
But then again no one knows either .
Good luck.
Gold record high, s and p record high, nasdaq record high and so on… barrick up around 3% on close
The die is cast.
GLA, whatever your position.
:-).
Likely to not do a lot today as we await the FED interest rate decision at 18:00UK Time.
We all know it will remain unchanged, but as always it's the commentary that counts.
This year, so far has remained broadly risk on- with some assets dropping off slightly last week or so on FED data markers showing marginally sticker inflation drop for now, although inflation trend down couple with strong other economic data and markets reflecting this.
Unfortunately or fortunately(if you like risk), this speech and decision doubles up with Y/E results here. As normal, we all know the the amount of gold mined and AISC for 2023 and so on quarter by quarter, but does anyone know anything outside these reports that could help in tomorrow's prediction of SP outside of the FED and ensuing potential gold re-action?
From a quick check on the the 2022/2023 (last year's report comparison) to the 4q's published this year- it's good reading (my values are approx and please challenge):
MINED: increase of ~3.5%
REVENUE GENERATED: increase of ~13.3%
CAPEX SPENT: decrease of ~28%
AISC: decrease of 13%
GOLD PRICE released average: +8%
Of course on the SP we never know what is priced in or out, but will there be any other "unexpected costs" and/or issues highlighted?
Please comment- more useful if any "known" or suspected is backed up with a source.