Centamin Share Discussion Threads

[juju44] 04/8/2017 13:51

Crimms soon took care of yet another rally in PMs

[legg96] 04/8/2017 08:37

I spoke to Josef a few years ago and he said that in due course the mine would produce 700,000 ozs per annum. I think we can now all begin to see with Cleopatra etc. how we are going to get there.

[jfishy55] 04/8/2017 08:27

"I just have a feeling 70% might not be repeated"

That is the concern. A lot depends on the POG of course but the company has showed its desire not to be a bank & hoard cash - if the yield is lowered I would expect corresponding news announcing an investment somewhere & that is what the cash will be being spent on instead. So hopefully it will happen.

Either way, long term things look very good. If CEY can produce 540,000 oz this year with considerably reduced output in H1 due to the east wall cutback - what can they achieve in a year without the cutback?! 540,000 - 234,000 = 306,000 for H2, double that implies 612,000 oz per year is possible! However, I am fairly confident that guidance will be maintained this year by using higher grade ore & FY18 will see lower grades through the mill. Even so, perhaps 575k oz? (Just a guess, I'm not sure how to arrive at a sensible estimate), it does look good for the next 18 months at least.

[juju44] 04/8/2017 08:27

this daily smackdown is becoming predictable - shows you when to buy

[mattboxy] 03/8/2017 18:48

Sorry was about to say you r both correct I just have a feeling 70% might not be repeated. I really hope it is and indeed if it is and actual ounces come in on target I think we should be trading in the 2-00s Hopefully a good 6 months ahead

[mattboxy] 03/8/2017 18:46

Finkwot and jfishy

[juju44] 03/8/2017 13:18

Yep , good sign and a recovery would be expected though thought it would take a day or two

[jfishy55] 03/8/2017 13:08

I knew that finkwot but clearly failed to say it - thanks for the correction.

Juju, the sellers did indeed arrive - but I'm pleased how the share price has held up despite that, definitely a good sign :-)

[finkwot] 03/8/2017 10:49

The policy is not "30% of FCF". It's "at least 30% of FCF".

[juju44] 03/8/2017 09:52

This is all good .CEY are avery successful miner with great reserves and no debt .Great divis

[jfishy55] 03/8/2017 09:11

mattboxy, yes the policy is 30% of FCF and the dividend is considerably above that (~57%) which is good. However, it is below the 70% for last year. Last years final was not a one off - it was not a special dividend. This does provide hope that they will aim for 70% again. The concern here is that institutions may predict a lower yield for this year.

However, CEY is clearly in very good shape & the management do tend to be conservative. With higher output, lower costs etc I would expect the final to be good. There is a lot of good news to come over the next 6 months, however, it should be remembered that profits will be offset to some degree due to increased profit share.

Personally, I'd like to see CEY move to a quarterly dividend with less difference between the interims & the final.

[juju44] 03/8/2017 09:10

They have arrived

[juju44] 03/8/2017 08:33

Solid results , solid company .Where is the "sell on the news " brigade?

[mattboxy] 03/8/2017 08:20

I believe policy is 30% of funds so this is still a very good distribution The 70% was exceptional and ossicle a one off

[jfishy55] 03/8/2017 08:00

Disappointing that 2.5c is around 57% of FCF, down from the 70% we saw last year. Suggests a final of 6c but hopefully the planned significantly increased production for H2 will allow for much better.

[jimbowen30] 03/8/2017 07:56

Good results. $333m cash is sufficient to pay a chunky final dividend and build a new mine in West Africa in due course.

[mikkydhu] 03/8/2017 07:49

The huge and growing cash pile and the policy of returning free cash flow to shareholders bode well for future dividends.

[skinny] 03/8/2017 07:28

Centamin plc ("Centamin", the "Group" or "the Company") (LSE: CEY, TSX: CEE) is pleased to announce its results for the second quarter ended 30 June 2017.

Q2 2017 Operational Highlights (1),(2)
· Gold production of 124,641 ounces was a 14% increase on Q1 2017 and 11% lower than Q2 2016.
· Cash cost of production and all-in sustaining costs (AISC) remain well controlled resulting in unit cash cost of production of US$609 per ounce and unit AISC of US$829 per ounce sold.
· Full year 2017 guidance maintained at 540,000 ounces, with US$580 per ounce cash cost of production and US$790 per ounce AISC.
· Record quarterly throughput of 3.06 million tonnes from Sukari process plant, an increase of 5% on Q1 2017 and of 4% on Q2 2016 performance.
· Amun / Ptah underground operations delivered 293kt at a grade of 8.79g/t to the ROM pad with mill feed from underground of 276kt at 7.74g/t during the period.
· Record open-pit material movement of 17,493 million tonnes. Mining of the east wall cutback was completed during quarter as planned, allowing open-pit mining to move to higher grade sectors.
· Continued positive results from underground exploration drilling at Sukari at both Amun / Ptah and Cleopatra.
· Development of the Cleopatra exploration decline, located in the north-east of Sukari Hill, advanced 407 metres. Encouraging initial results from diamond drilling over 5,231 metres.

Financial Highlights (1),(2)
· Interim dividend per share of 2.5 US cents, a 25% increase on 2016 interim payment and in line with Centamin's stated policy of returning free cash flow to shareholders.

· EBITDA of US$66 million up 24% from Q1 2017 due to an increase in both sales volumes and average realised gold price.

· Strong cash flow generation with free cash flow generation of US$50.8 million year to date.

· Cash at bank, bullion on hand, gold sales receivable and available-for-sale financial assets as at 30 June 2017 of US$333.6 million.

· The Egyptian state has benefitted directly from profit share payments to EMRA of US$41.2 million during H1 2017 (in line with guidance for 2017) in addition to US$8.7 million in royalty payments.

· Quarterly basic earnings per share (after profit share) of 1.10 US cents, a decrease on Q1 2017 due to non-cash and non-recurring items as well as higher profit share payments.

[lyceeuk] 03/8/2017 07:19

Interim dividend per share of 2.5 US cents, a 25% increase on 2016 interim payment and in line with Centamin's stated policy of returning free cash flow to shareholders.

[jimbowen30] 02/8/2017 16:29

Results tomorrow. Will hopefully get news on West Africa and a reserve update at Sukari. So plenty of potential share price drivers...

[juju44] 02/8/2017 08:44

Daily shake .... yawn

[mattboxy] 01/8/2017 19:20

Rovi ????????

[rovi70] 01/8/2017 12:20

Sorry Wrong Thread plus eye brain finger problem

[juju44] 28/7/2017 08:44

usual shake at the start of the day