Centamin Share Discussion Threads

[kennyp52] 25/2/2019 20:22

Anyone listened to the conference call on the website ? Hardly inspiring from the directors ... sound like they really cannot be bothered with it all and feeding a load of bull to orchestrated calls it would seem . We are supposed to be into higher grades yet the gold production target is lower ! They reckon they have all the right management in place "now" ... really ? Why werent they in place before ? Got to say I am not impressed by the CEO and financial guy . Time for a change at the top ? I have come back in with a foothold at 96p having dropped out before the crash ( expected the results were not going to be received well but it is the targets that are killing the share price ) Back in as I cannot believe this much of a drop is justified and I am hoping it will bounce for those that held in the next few days . If not 96p is cheap anyway and if it takes a year to sort out then fine . Good chance of the other resources turning this round sooner rather than later .

[bocase] 25/2/2019 20:08

DT101.

I know that. That is why I said 'on a different note' if you look at my post, to indicate it did not refer to you.

On the other hand you have turned very negative this afternoon with your posts which is a bit of a shame. Sounds like you are believing all the rubbish that the shorters are coming out with.

[dt1010] 25/2/2019 19:54

Bo

Know this if only one thing about me

I own 100,000 shares here. And I am
Not and never have been short on CEY.

[creditcrunchies] 25/2/2019 19:36

if that was just the initial reaction then 60p doesn't look ridiculous maybe we'll be wiser next time they announce their results because it'll be one hell of a ride lol

[bocase] 25/2/2019 19:31

Yes DT101 but that is historic. We all know that. Now CEY are processing higher grade ores.

On a different note it is sad to see all the shorters come out of their worm holes, out to knock British companies at the first opportunity and make a quick buck.

Do you really think the big money cares one jot about what you write.

Pathetic!

[dt1010] 25/2/2019 18:59

The company has advised increased production from 2018 BUT the cost per oz advised for 2019 has gone up considerably.

Because of lower grades.

After today’s action they should change the name.

Only one letter needs changing.

The e.

[martinfrench] 25/2/2019 18:55

prob safe to say a lot of these new people are shorters

[podgyted] 25/2/2019 18:54

Not sure the drop today reflects it yet but there is something seriously wrong here and its basic.

The company has advised increased production from 2018 BUT the cost per oz advised for 2019 has gone up considerably. Given that a lot of a gold miners costs are fixed this just sounds crazy. Its obviously not crazy 'cos the company itself has so advised therefore costs are set to massively increase.

Doesn't look like the presentation to analysts allayed any fears.

IMHO this is one to watch on the sidelines for a bit.

(I sold out a third pre-results "just in case" when I read the results the rest went, to be honest in shock. Not convinced the bottom has been found here yet. GLA)

[tsmith2] 25/2/2019 18:53

It's motley fools - lol, most of their articles are utter sh*te

[dt1010] 25/2/2019 18:29

Or short convering to 115p....

Spin your dice

Do you think it could HALVE from its high? Like 70p?

70p would be wonderful as a reversal. I think gold would need to drop a lot for it to get there though.

What a frigging shambles either way.

Heads should roll for this.

But shall we all hope for 70p. Cut it really deep. Let the shorters do their worst and make a mockery of this.

[davidpines] 25/2/2019 18:26

Further fall expected tomorrow

[spacedust] 25/2/2019 18:26

Knight rider more like....yiu may not know that one you sound a tad young

[dt1010] 25/2/2019 18:26

Haha juju, the free things in life are the best :)

[ken tennis] 25/2/2019 18:20

DATAIT Flow Rider springs to Low low low low low

[juju44] 25/2/2019 18:14

It was way overbought and ripe for a set back .I banked on the 200dma being the floor and bought around it - but it didn't support now I fear the rest of the drop . If gold doesn't hold up it will not be funny and with Trump having made America the greatest its ever been and having buckled China in the greatest trade deal ever , ever , PM s could well falter . Ah well, fek it , its only money

[martinfrench] 25/2/2019 18:10

i think we can safely say the recent uptrend is broken

[dt1010] 25/2/2019 18:08

Just preparing myself. The Motley fool article isn’t mine. I hold 100,000 fully paid. I have to hold but prepare for Worst case.

[martinfrench] 25/2/2019 18:02

dt1010,

you seem to post very mixed messages, any reason?

would be stunned if 80p is hit.

[dt1010] 25/2/2019 17:53

Down 20% as profits slump - Motley Fool

I’ve previously been a fan of Egypt-based gold miner Centamin (LSE: CEY). Until recently, this FTSE 250 group could be trusted to report high profit margins and strong free cash flow, supporting generous dividends.

Unfortunately it’s starting to look as though these impressive performances are a thing of the past. Gold sales fell by 10% to 484,322 ounces in 2018 and pre-tax profit fell by 26% to $152.7m.

The dividend was cut by 56% from 12.5 cents per share to just 5.5 cents per share for 2018. This cut reflects a fall in free cash flow, which fell from $142m to just $63.4m.

Why I wouldn’t buy yet

From what I can see, the main issue is that ore grades are falling. This means there’s less gold in each tonne of rock that’s mined. This pushes up costs.

As you can see from these figures, costs have now risen for several years, while production has been falling:

Year

All-in sustaining cost per oz.

Annual production

2016

$694

551,036 oz

2017

$790

544,658 oz

2018

$884

472,481 oz

2019 guidance

$890-$950

490,000 – 520,000 oz

As you can see from these figures, costs are expected to rise again this year, while gold production is expected to be below 2017 levels.

Centamin remains in decent financial health and has no debt. But with the shares trading at 1.2 times their net asset value, I don’t see much point in investing until there’s some sign of improvement. Existing holders might want to hold on. But I wouldn’t buy anymore.

[lasata] 25/2/2019 17:39

What news is there on the court case?

[dt1010] 25/2/2019 17:22

I think it will recover half today’s fall say a bounce to 115p.

Gold price trajectory over the next few months is key too of course.

It’s funny to think that when gold does break $1370 and the City suddenly loves gold stocks, this will be multiples of the current price in time.

Very easy to get very caught up in short term thinking.

This is a key takeover target with or without a court case. Money will be watching very closely.

[leonidas] 25/2/2019 17:20

Well I am sock by the way it when down.Bought 30.000 at 114p and I tough that would have made me few quids but I certainly did not anticipated 96.5p at the close this is madness.A rebound tomorrow if not we are in real trouble..............

[leonidas] 25/2/2019 17:20

Well I am sock by the way it when down.Bought 30.000 at 114p and I tough that would have made me few quids but I certainly did not anticipated 96.5p at the close this is madness.A rebound tomorrow if not we are in real trouble..............

[charles clore] 25/2/2019 17:16

My chart says if the price bounces off the lower trend line at 90p it could recover. If it closes below that level it's doom and gloom all the way to 70p, at which point I would be backing up the truck!