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See below: it'd be really nice if Sharecast could get its facts straight, especially since Sharecast News is what feeds HL's newsfeed - either he's Bought or Sold!!!???
Centamin revealed on Tuesday that chairman James Rutherford had disposed of 100,000 ordinary shares in the FTSE 250-listed miner.
Rutherford, who joined the firm back in January, sold the shares on Monday at an average price of 120.10p each, for a total value of £120,100.
Just last week, analysts at Berenberg upgraded mining firm Centamin to 'buy' from 'hold' on Friday, stating the group's new mine had rebased their expectations.
With Centamin releasing a new mine plan for its Sukari mine in Egypt, Berenberg now expects production of 452,000 ounces for 2020 versus guidance of 445,000-455,000 ounces.
As of 1630 GMT, Centamin shares were up 3.09% at 126.80p.
Top Director Buys
Centamin (di) (CEY)
Director name: Rutherford,James
Amount purchased: 100,000 @ 120.10p
Value: £120,100.00
https://www.sharecast.com/news/dealings-round-up/director-dealings--7740710.html
100notout - I don't know how much RNSs cost, if anything. I agree there would've been a few but still, And anyway, GEMD wouldn't have to submit RNSs for all of them - just keep the momentum going with the finds since the big 443 carat one - one RNS per month with all the prior finds would do the job. Yes, I know about checking the GEMD website but that's the point, the wider market only pays attention to RNSs and it's the RNSs that would help lift the Share Price.
...Blue Rock Diamonds finds a 12.6 carat and posts an RNS today:
https://www.londonstockexchange.com/news-article/BRD/recovery-of-12-6-carat-diamond/14780424
Sharecast also covers it here:
https://www.sharecast.com/news/aim-bulletin/bluerock-diamonds-recovers-126-carat-diamond--7736900.html
GEMD's discoveries are frequently more than 10x the carats, so why doesn't GEMD post RNSs for all its discoveries?
Current SP is no big deal in the circumstances. Remember, SP hit 206p just over a week ago on 24/11 and that was before it went Ex-Dividend. Yes, it had risen to 242p max but that was just before it went Ex-Dividend, which often happens. So yesterday's and today's falls are both related to it going Ex-Dividend (as invariably happens) AND the Chairman's sale of a big chunk of his stake. It may still go lower today/next week but it'll be back in the low-mid 200s in no time as long as Gold doesn't fall too quickly.
Thanks for your feedback, posts and contrary opinions to my own, but still no need for the sarcastic edge. Oh, and btw, I am both an Opportunity Trader and a medium/long-term Investor - far more stimulating and profitable to be both, imo.
Happy Trading and/or Investing everyone!
Gosh, you guys (MrBond46 & mrtibbles, in particular) are so tetchy and get wound up so easily! And you seem to think you own this board and that if investors have sold out, they no longer have a right to post. And, yes, I sold my CEY shares (to pile into VMUK and make more profits), so no regrets here.
Some people are very critical of others posts when they're simply just expressing contrary opinions or offering friendly warnings or even expressing utter disagreement to what others have said. That's fine with me as long as people are respectful and polite, and, of course, factual, if quoting facts.
My opinion is that Gold will fall gradually in 2021 & 2022 and beyond as a Bull Market in Equities sets in. That doesn't mean that I won't be piling into CEY again in the meantime if I see an opportunity. But Production guidance is not back to what it was pre-October 2020, whether some seem to think so or not. Yes, there may be a short-term recovery but Brokers recommendations are often biased towards their own Holdings. We'll see.
I'm sure I'm far too old to be your son, MarkBellUK (I wish I was!) and I have indeed done my homework. I'm saying look at HOC because of the current volatility of Gold Stocks e.g. POLY - all off their Highs and any bad news is heavily punished. Do you honestly think the Chairman of HOC, Eduardo Hochschild, would be reducing his stake in HOC if he didn't think that Gold has had its day for now?
And yes, mrtibbles (fab name), Sotolo has made a lot of sense in his recent post on HOC but I'd never spotted him beforehand.
I'm really not bothered either way at the moment because I sold my Gold Mining shares a couple of weeks ago - at a profit - and my view re the Gold Price falling won't stop me buying more Gold-related Shares cheaply like HOC today and like CEY on 24th November., because I'm not saying Gold is going to plummet straightaway.
Thank you, Sotolo.. Well put. Sadly, I think eva1989, Patryk221 & others are going to be disappointed re the Gold Price.
I'm not bothered either way at the moment because I sold my Gold Mining shares a couple of weeks ago at a profit and my view re the Gold Price falling won't stop me buying more Gold-related Shares cheaply like HOC today and like CEY on 24th November., because I'm not saying it's going to plummet.
CEY is hugely volatile because it relies on one core Asset (Sukari) + one core Commodity (Gold). Look what happened to the SP when the bad news re dented Production levels came out on 2nd October 2020 and because that issue was still unresolved at the Update on 21st October, coupled with the falling Gold Price , the SP fell to 102p. Bargain basement at that price!
Since that issue with the high-grade Stage 4 West wall, which was scheduled to be mined during Q4 2020 & 2021, has neither been resolved nor addressed by the CEO, and has clearly impacted the Production guidance for 2021, 2022 & 2023, as per CEO's presentation yesterday, we will not see a bounce back to pre-October 2020 SP levels quickly, especially with the Gold Price under continuing pressure, unless the CEO is storing up the surprise good news for a forthcoming RNS release.
I accept that the Gold is still there, but no matter, the Market does not like it at all when Production guidance does not meet or falls well below what was stated/expected.
Sadly, I expect this to creep back up to levels of 130-150p as opposed to rocket up to 230p levels, which would have happened if the issue reported on 2nd October had been resolved quickly with the corresponding Production levels reinstated. With the Gold Price under continued pressure, I can't see that bounce happening now. See what happened to Hochschild Mining today!
You're deluded. Gold will go Down with the switch to Equities as institutional investors look to a recovery in 2021/2022. Gold will simply settle back to where it started from pre-Coronavirus pandemic, that's all. This week's increase in the Gold Price is just one of the many blips in a Downward trend. Gold Mining Stocks will come under pressure as a result, but they won't crash.
Why do so many people here seem to think that Gold is going Up? It's been steadily going Down since its peak in August and particularly in November since the Vaccine news was released. And it will continue to go Down as the Vaccines roll out and as Economies recover and as global Investors switch from Gold to Equities.
You're deluded. Gold will go Down with the switch to Equities as institutional investors look to a recovery in 2021/2022. Gold will simply settle back to where it started from pre-Coronavirus pandemic, that's all. This week's increase in the Gold Price is just one of the many blips in a Downward trend. Gold Mining Stocks will come under pressure as a result, but they won't crash. That's all.
Why do so many people here and on CEY seem to think that Gold is going Up? It's been steadily going Down in November and will continue to go Down as the vaccines roll out and the economy recovers and investors switch from gold to Equities.
This is all froth from the CEO today.
The CEO has completely avoided (in today’s Market Event update and in his Q3 2020 Report on 21st October 2020) giving a clear and proper update re ‘the deferment of open pit mining operations in the Sukari open pit Stage 4 West wall area’, as per the Sukari Operational Update on 2nd October 2020 (RNS Number: 9319A).
The high-grade Stage 4 West wall was scheduled to be mined during Q4 2020 and 2021. This is what resulted in 2020 & 2021 guidance being reduced and thence the fall in Share Price from circa 200p to as low as 102p last week.
With Gold under pressure as the vaccines roll out, we will not see a return to the pre-2nd October Share Price levels until a clear, unequivocal announcement is made by the CEO about this issue.
Meanwhile, the Share Price will continue to come under pressure and yo-yo back & forth in the 100-125p range, in my opinion.
Think it'll take a few days for this good news to trickle through the market without an RNS as usual. SP has taken a bit of a dip since Monday's High of 49p. Tempting to add to my 36,000 holding now in view of this news as I think the SP will go over 50p and stay there next time we see a nice Rise.