Centamin Share Discussion Threads

[kennyp52] 07/12/2018 07:34

Boing boing today ?

[davius] 06/12/2018 22:28

Google Translation from akhbarelyom.com, link posted by Siko on LSE:

Yousuf Al Rajhi, General Manager of Sentinel Egypt, Managing Director of Sugar Mining Company, said the company aims to increase its gold production in 2019 to between 544 and 560 ounces after production in 2018 reached 480,000 ounces. That the company spent about $ 1.3 billion investments in the mine until the start of production.

Al Rajhi talked about the production of the mine since 2010 until 2018. He also expressed his expectation of next year's production, the financial value it has achieved since its opening, the source of the money spent, the number of workers in the mine and the companies that deal with it. Gold in Egypt, the establishment of more than a gold mine, and other things remained absent from the reader unfolds through a dialogue conducted by «News Today» .. To the text of the dialogue

What is the size of mine investments?
The company spent about $ 1.3 billion in investments in the mine until the start of production .

What size of sales?
Since the beginning of production in 2010 until 2018, the volume of gold sales has reached about 4.2 billion dollars. The production cost reached 2.7 billion dollars of sales volume and 80% of the proceeds of the mine are spent inside Egypt.

What is the proceeds of the General Authority for mineral wealth from the mine?
The Authority has received about $ 350 million. Production, construction expenses and mine production have been fully recovered over the past years.

How much labor force is mine?
Diabetes employs 1,500 direct workers and 3,000 indirect workers, which shows another benefit to the mine besides sales and profits .

Tell us about suppliers and companies that deal with the mine?
About 20 construction companies and about 2,000 suppliers are involved in the mine to bring supplies to the mine.

Is diabetes replicable in Egypt?
In the case of the amendment of the mining law in Egypt in line with the global variables, to be fair to the state and the investor will be able to create more than 20 other mines in Egypt.

Why do not we find new investors in mining, especially gold in Egypt?
When the Egyptian mining law is amended, we will find new investors in Egypt, because the current mining law is the wall of resistance against any serious investor because the origin of the philosophy of law is that the state gets its right and the investor also earns it. Profits, but the state can get taxes and royalties like the whole world.

How do you see the contribution of the mine in the Egyptian economy?
The sugar mine has injected about $ 4.5 billion into the Egyptian GDP, representing about 2% of the volume of Egyptian exports, which reveals the contribution of diabetes production to the Egyptian economy.

Is Egypt able to create a region to purify gold instead of abroad?
Currently, because there is no company that has a global certificate and is authorized to do so. The company will not be able to obtain this permission to monopolize the international companies of this technology. Also there is no economic feasibility of gold refining operations in Egypt because there are no quantities of profits from gold purification in the case of The establishment of this in Egypt, and therefore difficult to implement in Egypt.

Why did you not participate in the recent gold bid?
Its conditions are not commensurate with the establishment of a successful investment project, so we decided not to participate in the bidding.

Will the participation be offered if a new tender is put forward?
Yes, we can participate if the mining law was amended and put forward new conditions for the benefit of the state and the investor.

[ken tennis] 06/12/2018 17:52

CASUAL yes he was a very funny guy in the carry on films along with the rest of the cast.

[oli12] 06/12/2018 17:41

CEY held up well all things considered today. I am still picking up stock on the dips below £1 based on the assumption Q4 numbers will be good and 2019 guidance of 544,000 to 560,000 oz.

[casual47] 06/12/2018 15:59

Ooh matron!

[kennyp52] 06/12/2018 15:49

Ken T if we hit 140 drinks are on me .... 160 .... I won't tell you what I'd do for casual47 if we hit 160 ! At the moment it's struggling to stay at 100. Here comes FRES on the rails ...... NG staying solid ... banks are f#kd

[goldry] 06/12/2018 15:37

Tiny splash of blue in an ocean of red.I'll take that.

[ken tennis] 06/12/2018 15:16

This share is certainly a mad one at 2.00pm gold moves up $8 and CEY goes down 1p
no logic at all but it has to go up eventually.

I must say I would rather put my cash in this share at this present time of economic turmoil.

Casual I hope your 160 or even 140 would be nice, but i definitely agree good hedge against 11th December as we are in dangerous times.

[gotnorolex] 06/12/2018 14:50

OTC @ 1.40....out of kilter with AIM, we are on track to finish 100 plus!

[casual47] 06/12/2018 14:47

$1300/oz vs $1200/oz means an extra $30m net profit available for divi if annual output is 560k oz next year. (That would be an extra 2.5c divi on top)

[casual47] 06/12/2018 14:45

There went $1244/oz. Still holding my fingers crossed for $1300/oz very soon.

At $1300/oz the CEY share price should be well above 160p....

[casual47] 06/12/2018 14:43

And boom....we've made it through $1243/oz and nearly took out $1244/oz.

[strutt12] 06/12/2018 14:17

LLB, are you in your time machine? US opening in 13 minutes????

[casual47] 06/12/2018 13:05

The fears underlying the drop on the world's stock markets can be hedged against by investing in companies like CEY. Value will out.

[laurence llewelyn binliner] 06/12/2018 13:01

From a charting stance.. 97/98p is the turning point to maintain the uptrend..

The markets are getting a proper pasting today, and the US just opened which might add to it and throw another spanner in the makings..!

Markets looking very flaky as we head towards the Brexit vote on the 11th, if that goes against the Gov which looks likely and the FTSE will get another drumming, a portfolio Gold hedge will soften the blow, or even add.. :o)

[kennyp52] 06/12/2018 12:16

A few bum holes twitching . Saint Theresa the Incomptent ... got to love her .... NOT! Turmoil will settle I suppose . CEY quite stable .

[ken tennis] 06/12/2018 11:46

KENNY everybody hurts sometime especially in the last 3 mnths.

[ken tennis] 06/12/2018 11:37

IT'S THE END/OF THE WORLD/AS WE KNOW IT/(AND I FEEL FINE).
Cover of the USA 7" release REM very good band

[kennyp52] 06/12/2018 11:20

It's the end of the world as we know it !!

[ken tennis] 06/12/2018 08:59

Yes pretty bad for my GLEN down another 4% but CEY not fairing too bad at present.

[oli12] 06/12/2018 08:54

2019 target is 544 to 560 oz according to a post on the LSE blog. Source appears reliable

[kennyp52] 06/12/2018 08:43

Jeez it looks ugly today

[kennyp52] 05/12/2018 23:41

Might be following you soon into semi retirement Ken T . Being an accountant we got the CGT angle covered with 4 way split of ownership ( in partnership with lifelong friend and his missus )and we get little grief from tenants as we bought on our patch and my partner is 6’4” of trouble if you don’t pay !! CEY .... what an enigma of a share . I really feel this should be rising steadily but when you look back only weeks it is not really in that bad a place if you have bought the lows traded the highs ... as we have both done I think . I’m at 101 average now with about 25k shares so hoping for a nice profit before long . If the production is confirmed I have to be optimistic this goes to 120 and beyond especially with POG where it is and seems to be going . Good luck for tomorrow see you at 8am !