Centamin Share Discussion Threads

[edjge2] 10/11/2016 21:00

Surprise dump to 1250 gold tonight GBP/USD up so Gold buy and NYSE:JNUG below 9.50. Hope it bounces. Special offers tomorrow am coming.
Isa transfer cash delayed, oh shucks!
dimitri bounce may be violent, why, not a clue: but seems to happen from lows and this a retest.

[azalea] 10/11/2016 17:13

Trump has ask T.May to visit him ASAP.

[casual47] 10/11/2016 15:02

Trump called with leaders from 9 countries on his first day as President Elect.

Theresa May wasn't one of them.

But Sisi was.



Should bode well for stability in Egypt and in turn also for Centamin.

[dmitribollokov] 10/11/2016 14:51

Think sitting in cash makes a lot of sense atm...

[ukgeorge] 10/11/2016 09:36

these have been premiership for years.

[undervaluedassets] 10/11/2016 08:17

In terms of profitability this has jumped from being a 3rd division gold producer to the premier league.

3rd quarter last week was more than satisfactory and full year numbers will be a record.

[rotrader] 09/11/2016 16:47

Couldn't resist it -

[hectorp] 09/11/2016 13:55

Brillint turnaround at CEY thank you Trump.

[weemonkey] 09/11/2016 12:42

notwithstanding Trump.

Not surprised that this is outperforming peers today.

Last quarter was proof (if proof were needed) that this company is now a major gold player to rank alongside RRS and POLY

[davidtil] 09/11/2016 02:50

Gold up $30 !DT in the ring head to head with Hilary !Damm, Cey is going one way this morning bruv !

[davidtil] 09/11/2016 02:26

Trump v Clinton too close to call bruv !Trump appears marginally ahead, gold will fly with Trump !

[undervaluedassets] 07/11/2016 09:29

Devaluation of egyptian currency last week equal lower costs which in turn equals bigger margins.

Risk free early christmas present for Centamin.

[shayadfn] 05/11/2016 08:17

For those worried about Egyptian fuel price rises:

[sg31] 04/11/2016 22:45

or just another paper swindle!!

That's the problem with gold/silver or even oil.

The paper tail becomes more important than the actual product.

[overeager] 04/11/2016 20:52

Much appreciated.

[chipperfrd] 04/11/2016 20:21

overeager,

Each contract has a seller and a buyer - the more paper supply generated by selling contracts, the more it depresses the price.

An entity holding sell (Short) contracts has to buy them back to close - hence pushing the price up.

An entity holding the buy side (Long) would close the contract by selling - hence depressing the market price. Alternatively, if the Long is held to completion then the short has to deliver on that contract.

The situation currently existing with the December Gold and Silver contracts is at an extreme, so this level of longs and corresponding shorts HAS to be reduced before the end of November when the December contract 'goes off the board' and all the contracts have to be settled.

Whether outstanding contracts will actually be settled by delivery of physical metal is a very moot point as COMEX does not have anything like these large amounts of metal in their vaults. So there will have to be some other result - which could be very interesting - or just another paper swindle!!
Chip

[overeager] 04/11/2016 20:02

Chip, anyone, apologies for the lack of my knowledge, but could you quickly explain how the open contracts cancel and what impact this has on price of gold. Sorry for my ignorance, TIA

[phillis] 04/11/2016 15:25

Hanging in!
Maximising Sipps for IHT purposes - my lucky family!

[chipperfrd] 04/11/2016 13:21

Hi Phillis, good to hear from you. Hope you are prospering.

[phillis] 04/11/2016 13:18

Tx Chip

Good stuff as usual

[chipperfrd] 04/11/2016 13:12

People need to be aware that the Open Interest on the Dec16 COMEX gold contract is still exceedingly high at 375,079 100oz contracts. That equates to 1,166 tonnes of paper gold.

That contract expires at the end of November - so just 18 trading days. Then it becomes deliverable - which is obviously impossible!

To get it down to zero (Dec15 contract delivered only 10.52 tonnes) it would require an average of 64.8 tonnes of Open Interest (ie contract cancellation) to occur EVERY TRADING DAY this month. So this is quite a big deal!

Total deliveries on outstanding contracts so far this year have been 187.86 tonnes. Last year the total for the year was 50.44 tonnes.

Similar situation on the Dec16 5000 oz silver contract. Current Open Interest is 20,956 tonnes for goodness sake!! That requires 1,164 tonnes per day to be cancelled by short covering/long liquidation, which seems a big ask.

So expect some big developments in the paper gold/silver markets this month!
Chip

[juju44] 04/11/2016 13:09

gold taking CEY up

[sawadee3] 04/11/2016 13:09

Mr Til, you're still as mad as a hatter but i like you :-)

Go enjoy some of that money ;-)

More than twice as many buys here today, 'bout time this was moving back up chaps :-)

See you all next year :-)

Happy days chaps :-)