Centamin Share Discussion Threads

[master rsi] 08/12/2019 21:50

Youssef Al-Rajhi: $ 1.3 billion in capital expenditures
on Santamine in the Diabetes Mine
$ 306 million in transfers to the public treasury under the item of profits

Nesma Bayoumi - 1:08 PM, Sunday, 8 December 19
The total capital expenditures of the Australian company "Santamin" in the "Sugar" Gold project amounted to about $ 1.3 billion, while it plans to pump more investments during the coming years, to complete its business and maintain high production levels, targeting the production of about 490 thousand ounces of gold by the end of 2019.

The Al-Sukari mine is located in the Eastern Desert, and the Mineral Resources Authority signed with the Pharaonic Company for Gold Mines «affiliated to the Australian Santamin Company» an agreement in 1994, and the commercial gold disclosure was announced, and the establishment of a company to implement the operations under the name of “Al Sukari Gold Mines Company”, and started production since 2010 As a joint company between Santamine and the Authority.

Youssef Al-Rajhi, General Manager of the Pharaonic Company for Gold Mines «Santamine Egypt», and the managing director of “Al Sukari” Company for Gold Mines, revealed that the total capital banks of the company, since the start of its work in the Diabetic Gold Project until last November 30, amounted to $ 1.3 billion, stressing that the company is currently operating On implementing new investments, it will be included in next year's budget.


$ 4.8 billion in total sales as of last November 30
He drew - in his dialogue with the "money" - that the value of total sales of gold since the production of the diabetes project amounted to about $ 4.8 billion.

It is worth noting that the gold extracted from the Sugar Mine is shipped in parcels to Canada for purification by one of the largest purification companies in the world, then stamped and stamped with a stamp of 9999, after which it becomes valid for sale on the global gold exchanges.

On the level of the process of sharing the profits of the project with the government, Al-Rajhi revealed that since the start of the sharing of profits with the Egyptian government, about $ 306 million has been transferred to the state’s public treasury, under this item.

According to the agreement signed between the Mineral Resources Authority and "Santamin" in 1994, the latter will finance the Al-Sukari mine project, and recover its expenses entirely from the proceeds from the sale of gold, along with the payment of 3% royalties to the Mineral Resources Authority, with the sharing of profits from the sale of the gold mine between them and the Egyptian government, at a rate 55% for the "last".

The “Sugar Company” for gold mines began sharing production profits with the Egyptian government during 2017, after recovering the full costs of its expansions throughout the project’s phases.

Al-Rajhi indicated that the total profits transferred to the state treasury from the beginning of the second half of this year until November 30 amounted to about $ 31.5 million.

It is mentioned that 40 million dollars was transferred to the state treasury under the account of the profits of the Diabetes gold project during the first six months of this year.

Al-Rajhi stated that the most recent payment transferred under the profit account amounted to $ 5 million last month.

The Sugar Mine contributes to the total exports of Egypt by about 2%. As a result of the exports of the Sugar Mine from gold, the balance of payments between Canada and Egypt is in favor of the latter.

On the level of the royalty and other taxes that the project pays, Al-Rajhi indicated that since the production of the diabetes project began, 140 million dollars in royalty and more than 700 million pounds of taxes have been transferred to the state treasury.

Several companies are working in Egypt in the field of research and exploration for gold, including the "Matz Holding" Cyprus, but "Santamin" is the only product of gold in Egypt at present.

On the current production level, Al-Rajhi stressed the regularity of production rates within the mine, and implementing them according to the targeted schedules and plans.

The "sugar" is one of the 25 largest mines in the world in terms of production volume.

Al-Rajhi said that the production rates of the Al-Sukari mine project currently range from one to one and a half tons on average, roughly equaling 40,000 ounces.

255 thousand ounces targeted for production in the second half of 2019
And on the targeted production rates during the second half of this year, he explained that it is intended to produce 255 thousand ounces during that period, so that the total production will increase throughout the whole year and by the end of next December to about 490 thousand ounces.

It is noteworthy that the total production of the diabetes project reached about 235 thousand ounces during the first half of this year.

The average gold reserves of the project are about 13 million ounces, and it is estimated that they will be produced within 30 years from the start of the project, which classifies with it the sugar mine within the main global lists of gold.

Regarding the company's expansions during the coming period, and the extent of its desire to participate in any new auctions that are offered for prospecting for gold and minerals in Egypt, Al-Rajhi said: “We are awaiting the issuance of the executive regulations to judge these amendments and look at the feasibility of expansion or not.

The Diabetes Project employs approximately 4,500 individuals, directly and indirectly, from engineers, geologists, and various workers from the cities of Upper Egypt and the Red Sea. The project deals with more than 1,000 suppliers, over 50 Egyptian contracting companies, to supply it with the production needs.

Al-Rajhi added: "We have plans in the Al-Sukari mine to expand over the project's estimated lifetime of about 30 years, and we are proceeding with steady and good steps in that matter."

He pointed out - in recent statements - that there is no mine in the world that sells its gold production directly in the market, since the matter requires exporting it to one of the global gold analysis laboratories to remove impurities from it, stamp it, and sell it in one of the gold exchanges, to eventually return to the exporting country in the form of Money, so we send the “sugar” gold production to an analysis laboratory in Canada, a country known to those factories as countries; Australia, South Africa, and China, which purifies, seals, and sells it on the London Gold Exchange on its guarantee.

[master rsi] 07/12/2019 21:18

Have any one of you have noticed the change of % on the last couple days of Endevour holdings in Centamin?

RNS - 03/12/2019 12:36pm
14,512,269 shares 1.26 %
shorts 0

RNS 06 Dec 2019 15:00
Class of relevant security: Convertible Bond ISIN US29257YAA29 -- 8.13%
Shares 0.1%
Short - 702,526 shares or 0.64%

It gives me the impression, Endevaour have used the 1.26% on Thursday 5th to sell down to 0.1%, plus shorting 702,526 shares in order to bring the stock down from 130p.

[plat hunter] 07/12/2019 20:58

Looks like short term weakness to me... Going to try and get 111 with a 107 stop loss for a 125 profit stop.With no stamp duty that's a decent value range for me.Good luck whatever though.

[master rsi] 06/12/2019 23:14

Has bounce from support today and 50 days MA

[squintyflinty1] 06/12/2019 18:37

When are the figures being released

[master rsi] 06/12/2019 18:06

rubbish to you

If all the GAPs were to be filled, then everyone would be TRILLIONAIRES

[trader365] 06/12/2019 18:00

"re - gap that needs to be filled.

Maybe another time,it bounces from 61.8% Fibonacci retrace
and support at 115.25p, so time to move up again"

Rubbish!

If that was true we would all be buying every stock at the 61.8% retracement and be billionaires

[master rsi] 06/12/2019 17:59

Basic types of Candestick patterns graphs

[master rsi] 06/12/2019 17:39

re - gap that needs to be filled.

Maybe another time,it bounces from 61.8% Fibonacci retrace
and support at 115.25p, so time to move up again

note:
Is call back and white, never mind the ADVFN chart
is in blue or in this one is red, and is so beacuse
there is a shadow on the white space so it looks black.

[trader365] 06/12/2019 17:11

Think you're getting your blacks and blues mixed up? Your chart clearly shows the gap that needs to be filled.

[master rsi] 06/12/2019 17:06

It was a black Candlestick as it finished below 120p
But is the same Bullish Hammer, can be black or white

note:
BULLISH HAMMER: This pattern occurs at the bottom of a trend or during a downtrend and it is called a Hammer since it is hammering out of a bottom. It is a single candlestick pattern that has a long lower shadow and a small body at or very near the top of its daily trading range.

[master rsi] 06/12/2019 16:30

At 0ver 120p will be white
at 119p will be black

but it does not matter because is bullish

[master rsi] 06/12/2019 16:27

It looks like that a good Candlestick finish is on the way

[bocase] 06/12/2019 15:24

Good to see CEY share price climbing even though gold is weak due to strong payroll figures.

That tells me investors don't want to be out over the weekend with the chance of a rival or higher bid on Monday morning.

[cielos] 06/12/2019 13:41

you are rather small all around then

[edjge2] 06/12/2019 12:23

no fibs with fibs, glad I don't have 1.61 feet or 1.61 lungs!

[saget] 06/12/2019 11:14

Thank so much Master RSI!I get your name now, very clever.Thanks to Plat for his link too.

[master rsi] 06/12/2019 10:57

Fibonacci and the Golden Ratio
BY JUSTIN KUEPPER Updated May 25, 2019
There is a special ratio that can be used to describe the proportions of everything from nature's smallest building blocks, such as atoms, to the most advanced patterns in the universe, such as unimaginably large celestial bodies. Nature relies on this innate proportion to maintain balance, but the financial markets also seem to conform to this "golden ratio." Here, we take a look at some technical analysis tools that have been developed to take advantage of it.

KEY TAKEAWAYS
The Golden Ratio describes proportions of everything from atoms to huge stars in the sky.
This special ratio is derived from something called the Fibonacci sequence, named after its Italian founder, Leonardo Fibonacci.
Nature uses this ratio to maintain balance, and the financial markets seem to as well.
The Fibonacci sequence can be applied to finance by using four main techniques: retracements, arcs, fans, and time zones.

But this sequence is not all that important; rather, it is the quotient of the adjacent terms that possess an amazing proportion, roughly 1.618, or its inverse 0.618. This proportion is known by many names: the golden ratio, the golden mean, PHI, and the divine proportion, among others. So, why is this number so important? Well, almost everything has dimensional properties that adhere to the ratio of 1.618, so it seems to have a fundamental function for the building blocks of nature.

Prove It
Don't believe it? Take honeybees, for example. If you divide the female bees by the male bees in any given hive, you will get 1.618. Sunflowers, which have opposing spirals of seeds, have a 1.618 ratio between the diameters of each rotation. This same ratio can be seen in relationships between different components throughout nature.

Are you still having trouble believing it? Need something that's easily measured? Try measuring from your shoulder to your fingertips, and then divide this number by the length from your elbow to your fingertips. Or try measuring from your head to your feet, and divide that by the length from your belly button to your feet. Are the results the same? Somewhere in the area of 1.618? The golden ratio is seemingly unavoidable.

But that doesn't mean that it works in finance … does it? Actually, the markets have the very same mathematical base as these natural phenomena.

[master rsi] 06/12/2019 10:53

Today the 4nd retracement price has been reached 61,8%. Is considered the Golden Ratio

High 130p
low 108.50p

Retracements
high- 0% 130.00p
1- 23.6% 124.93
2- 38.2% 121.79
3- 50.0% 119.25
4- 61.8% 116.71
5- 76.4% 113.57
low- 100% 108.5

[master rsi] 06/12/2019 10:44

re - Saget 5 Dec '19 - 19:14 -
Master RSI, is there a tool to calculate those resistance levels?

"barchart" comes out with their calculations, that after all comes much the same as the Fibonacci retrace I was posting.
Today has hit 115.25p the 61.8% retrace and bounce from there. ( usually, it is the point of a strong bounce that most chartish are waiting for to take a punt.)

Support & Resistance
2nd Resistance Point 129.994
1st Resistance Point 124.672
Last Price 117.250

1st Support Level 116.689
2nd Support Level 114.028

[squintyflinty1] 06/12/2019 10:03

Thanks trader365

[trader365] 06/12/2019 09:56

Gap 113 - 119 needed to be filled

Dividend yield 4.4%

[squintyflinty1] 06/12/2019 09:12

What is the current dividend yield?