Centamin Share Discussion Threads

[rotrader] 13/7/2020 09:49

What a class company this is. UK company's could learn a lesson or two from Centamin.- The local community to Sukari is Marsa Alam. During Q2, the Company installed a computer lab at the city library, donating computers and associated equipment for community use.Local to our projects in Burkina Faso and Côte d'Ivoire in West Africa, while non-critical community programmes were reduced, projects completed included constructing and commissioning water bore holes and constructing a new roof for the local school to the Batie West Project. In Côte d'Ivoire, in partnership with GIZ (German International Cooperation Agency) fertiliser, equipment and supplies need for the rice season were provided.Centamin is working with its stakeholders to identify the immediate needs to mitigate the impact of the COVID-19 pandemic and providing financial and logistical support to help our local communities. Activities during Q2 include:-- Working with the local health authorities in Marsa Alam to assess the ability to provide enhanced health care testing and facilities in the region;

[azalea] 13/7/2020 09:39

Umat----
An extraordinary figure I know, but he is not alone, with both Peter Schiff,Dan Oliver and others completely agree with him in principle, if not in specific % terms. However it is no more extraordinary in the case of Dan Oliver(founder of Myimikan Capital), when speaking to a Kitco interviewer(catch them on You Tube), said he was raising his forecast for the p.o..g. from $3000oz to 10,000oz. Given the reasons given by these well known figures in U.S. financial circles, who am I, to argue with them. Only by listening to what they have to say, can you convince yourself who is going to be proved right.

[fenners66] 13/7/2020 09:02

"Gross revenue for the quarter was US$227 million, a 54% improvement YoY.

Free Cash Flow

Net cash generated from operating activities was US$144 million, a 151% improvement YoY. After Sukari profit share distribution and Group investing activities, Group adjusted free cash flow was US$56 million, a 196% improvement YoY, driven by increased gold sales and increased gold price.

Under the terms of the Concession Agreement with our Egyptian partners, EMRA, on 1 July 2020, the profit share mechanism changed to 50:50, from 55:45 in favour of Centamin, and will remain at this level for the remainder of the tenure. "


So great comparatives - but second half will be tempered by the profit share change.

[rose_by_another_name] 13/7/2020 08:55

Your valuable contribution is also noted, alan.

[alangriffbang] 13/7/2020 08:54

Dear oh dear rose your not wanted here your not wanted on the GFM site ,in fact your not wanted anywhere ,ha ha ha ,

[rose_by_another_name] 13/7/2020 08:45

I post where I wish, LC. Your name-calling and
bad language has no effect on me, but makes
you look unintelligent and immature. Keep it
up, by all means.

[kennyp52] 13/7/2020 08:44

I would ‘add’ ... there is usually a bit of a sell off leading to a share price correction prior to production reports ( due to past misses ) so it is surprising that the share price has not yet reacted more positively . I do expect 200+ but maybe investors need to see the financials and potential dividend before they make their minds up. All in my honest opinion of course.

[rose_by_another_name] 13/7/2020 08:35

The whole market is looking for exit
opportunities, and good results are seen
in that light rather than reasons to buy.
Shouldn't apply to gold.

[azalea] 13/7/2020 08:26

Today the dollar traded down against the yen from 107.75 to 106.90. Any significant signs of the $ weakening against fiat currencies will reinforce Stephen Roaches prediction of a 35% fall in the value of the dollar; which in turn will reinforce the forecasts by others that the p.o.g. will rise much higher.

[kennyp52] 13/7/2020 08:19

Gold production[3] for Q2 of 130,994 ounces from Sukari was above forecast primarily due to higher mill feed grades and, as a precautionary measure due to COVID-19, the deferral of plant maintenance shutdowns to Q3 and therefore reducing the volume of third-party on-site access. This brings production for the first six months of the year ("H1") to 256,084 ounces

· Cash costs for Q2 of US$625 per ounce produced (H1: US$642/oz) and all-in sustaining costs ("AISC") of US$900 per ounce sold (H1: US$901/oz), ahead of schedule and reflecting increased production volumes

· On track to meet 2020 full year guidance[4]. Full year production range narrowed to between 510,000-525,000 ounces of gold; cost guidance is unchanged with cash costs forecasted between US$630-680 per ounce produced and AISC forecasted between US$870-920 per ounce sold



This was what we needed to see to confirm the new management team can deliver . Well done CEY . Looking very solid . Cash is not what I would expect so I expect some delayed sales due to Covid / distribution so maybe owed at period end which is not a negative given the POG has been on an upward curve.

[stevedaytrader] 13/7/2020 08:14

Yes Martin - I thought a bigger rise today at opening, but still think should be a good day :-). Fingers crossed...

[martinfrench] 13/7/2020 08:11

Exactly my view Steve, the old days of inevitable management failures, so reduce before results

Which are a bit muted so far, surprised

[stevedaytrader] 13/7/2020 07:50

Yes, I recall posting how important management changes are when a company misses results- they acted well here- and new management has turned things round- I used to dread RNS- long may it continue :-). Upper end of guidance was cut a little bit lower end remained in place and as we exceeded should be very positive with this gold price too- I read HGM realised gold price the other day which was high. Fingers crossed...

[martinfrench] 13/7/2020 07:46

Steve,

I've got to trust management more, last few have been good. Only got 2k in here so might make couple hundred today but will be pleased for other holders.

Now have 3 months of good short term trading ops

[stevedaytrader] 13/7/2020 07:39

a looking good Martin, fingers crossed as always :-). Gold up again and holding above 1800, major indicies in asia up and ftse and dow futures also up :-)

[adg] 13/7/2020 07:37

£2 could be taken today at some point after this update. Would imagine a lot of profit taking at £2 as a psychological level

[martinfrench] 13/7/2020 07:32

Don't think have ever seen centamin over perform from a production report.

Not only higher amounts mined which will however reduce H2 a bit due to deferred maintenance but all round great.

Sooner or later the discount we had due to poor management could be reversed if this is the norm going fwd.

Will be surprised if this doesn't smash £2 next few days.

[stevedaytrader] 13/7/2020 07:29

For those who have NOT seen the reports