Centamin Share Discussion Threads

[undervaluedassets] 10/4/2017 16:16

CEY Have almost as much cash as RRS and virtually no debt.

As you say WeeM now that CEY is producing at this new high level (albeit not as strongly as as last year) with no debt to service that cash pile is only going to grow.

More chunky divis in the offing one would think

[skinny] 10/4/2017 13:44

Panmure Gordon Buy 177.80 209.00 209.00 Reiterates

[weemonkey] 10/4/2017 11:57

To give a little granularity to what I said before CEY will have made more money in quarter 1 2017 than they did in the whole of 2015.

This is what I mean by the fact that they are now trading at an exalted level.

There has been a step change in the level of business that they are doing that started in 2016 and patient investors are set to reap the benefits from the ever growing cash pile (not least in terms of dividends).

[bookwormrobert] 10/4/2017 11:10

I'm a long term believer in this stock, but I believe it will dip for a few weeks. Gold is probably headed downwards, and the constitutional court case (Law 32?) will probably be lost. (Don't get me wrong, Centamin will eventually win the court case, but the road won't be straight and short, and there will be setbacks along the way).

[weemonkey] 10/4/2017 10:11

540,000 ounces will still mean that this company is trading at an exalted level by average historical standards.

And at nearly double the profitability of the trading in 2010 (when the share price hit an all time high.

The new highly profitable profile of this company is not yet in the price I would argue.

The market does work these things out in the end.

It will be hard to beat last years Stella numbers. But the numbers will still be pretty amazing by historical standards if the company even approaches guidence for full year . . .

[dmitribollokov] 10/4/2017 08:25

Yup jfishy guidance maintained, don't see any dramas longer term, targetting lower grades last quarter; still a bit lower than expected. Everyone is used to them overdelivering.

Concern short term is these results coupled with josef selling last quarter might spook people. Think they head lower with gold over next few weeks. Hope so anyway - looking to reload!

[dt1010] 10/4/2017 08:11

Yes guidance maintained.

Every reason to hold and buy weakness.

This is cheap on a PE of just 9.

[jfishy55] 10/4/2017 08:07

Gold is $10 lower than Fridays close + the results were probably lower than most peoples expectations (despite taking into account the east wall cut back).

However, guidance is maintained. CEY has in the past shown itself capable of using stockpiled higher grade ore to ensure it meets / exceeds expectations.

[dt1010] 10/4/2017 08:02

No serious investors will sell, only petty private speculators

[dmitribollokov] 10/4/2017 08:00

Yep mkt loves it. Flagged or not, mkt is used to seeing this company beat expectations.

[undervaluedassets] 10/4/2017 07:47

Unsurprised. They guided for lower production this quarter.

We were put on notice that there were lower grade facies to be worked through.

Overall trajectory is intact. 540,000 ounces for full year at 780 all sustaining is not to be sniffed at.

Predict today will be an opportunity to pick up cheap stock from weak holders.

[dt1010] 10/4/2017 07:38

All expected and in line with expectations.

[naithani] 10/4/2017 07:20

Low production result was expected. They did mention in previous annual statement. It is not a surprise.However year 2017 production guidance is intact.

[dmitribollokov] 10/4/2017 07:15

First time i've ever seen less than stellar results from cey...

[skinny] 10/4/2017 07:09

Centamin is pleased to announce preliminary production results for the quarter ended 31 March 2017 from its Sukari Gold Mine ("Sukari") in Egypt.

Preliminary total gold production for the quarter was 109,187 ounces, a 20% decrease on the previous quarter and 13% lower than Q1 2016. The reduction in quarterly production is in line with Centamin's forecast and the Company maintains its 2017 guidance of 540,000 ounces at a cash operating cost of US$580 per ounce and all-in-sustaining cost (AISC) of US$790 per ounce.

Quarterly throughput at the process plant was 2,908kt, a 1% decrease on the previous quarter and in line with our 2017 annual forecast of 11.75 million tonnes (Mt) milled.

Open pit total material movement (ore plus waste) increased 8% on the previous quarter to 17,128kt. Open pit ore production increased by 14% to 2,478kt at an average mined grade of 0.47g/t. The average head grade to the plant from the open pit was 0.58g/t. This was below both the reserve grade and our forecast average grade for the full year 2017, as the open pit continued to develop a low-grade cutback in the east wall of the pit in line with the mine plan.

The run of mine ore stockpile balance decreased by 191kt to 386kt at the end of the period.

The underground operation delivered 252kt of ore at an average mined grade of 7.44g/t. On an annualised basis, the productivity rate was in line with our 2017 forecast of 1 million tonnes at 7.26g/t. Ore from stoping was 153kt at 6.9g/t and ore from development was 99kt at 8.3g/t.


more.....

[mattboxy] 08/4/2017 15:54

If we went to a pe of 18 I'd be over the moon!

[weemonkey] 08/4/2017 11:44

Should have reasonable way to go ...

A breakout makes sense .

CEY had nearly as much retained profit as RRS at the full year.

But trades at 1/3 of the multiple

RRS pe 33. CEY 9

These anomalies get straightened out over time.

We will see.

[jimbowen30] 07/4/2017 16:27

185p offer - strong close

[rotrader] 07/4/2017 16:23

40-1 but there is more money to be made here. ;-)

[rotrader] 07/4/2017 16:21

Anybody do Ultragold at Aintree today - nor me ?

[juju44] 07/4/2017 16:14

And there it is 184p - YYEEEEEEEHHHAAAAAAAAAAAAAA

[jfishy55] 07/4/2017 15:37

I reckon production figures should be in the region of 117k oz (80% dore) to 132k (90% dore) oz against 145k needed to meet guidance which is pretty much bang on expectations for Q1.

Anyone got historical figures for purity of the dore bars to hand?

[juju44] 07/4/2017 15:19

Need over 184 for that . 207 is all time high - 10 years ago . Take that out and BINGO. Watch this space

[dt1010] 07/4/2017 13:46

Yes indeedy...perfect storm. Production numbers on Monday will drive it higher too..

A close here today above 180.10p will be the highest close in....7 years 4 months.

It will set it up nicely for a run to the historic high of 203p