Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
It may well do Steve, but unfortunately that won't sort out the ever deeper mess our world is sinking into.
I work within what ever system exists when I cannot change the system- there’s good and bad in all systems - people drive systems so will always be the case, as people will always be good and bad.
The world being in a deeper mess is a matter of perspective and beliefs - if far be living today than in the past, heck only 80th years ago millions died in a world war, average death age was massively younger and so , people often forget this
Life always changes, systems always change, it will never stop.
For example, I’m different to you, I couldn’t just hold a stock that keeps losing where I don’t trust the management and am always attacking- it would be a complete waste of my time … I’d have sold out and moved on years ago …
Well Tibbs you are sounding like me getting depressed with all this, are the golden flip flops ever going to come! It seems not. Not sure myself to call it a day on this but it is hard to sell after all this time, I must admit optamisum is getting very low now. Any lift seems to be short lived and nothing seems to make any difference and confidence is rapidly disappearing. Decisions decisions. Hope all are keeping well, that after all is the main thing.
Ok---most of us LTH are cheesed off and thinking that we should have cashed in when we were 220 and Sotolo ( who's views are back of a f-g packet calculations are interesting) was predicting £3 before long. But we have hindsight.
We never know if what we are being told is true. We were being told a pack of lies when the share was up to 220 and the previous lot were high grading, which looks like it was for their benefit .
If Martin Horgan is pulling the wool over our eyes, then he is going to a great deal of trouble to do it. He made a decision to do the waste clearance and to allow more access to the mine. Then there is the solar and the new trucks. If he was getting a kick back from all of this (I am not accusing him) would it be worth the effort?
Ok--there was a problem and they missed Q3 targets , but they reported it before the Q3 figures officially came out. It's not like the last lot predicting 600 OZs for the year and then suddenly announcing at the last minute there was a problem with some machinery.
Dasut and Kees Dekker thought waste clearance was the way to go---and that is what is being done.
The big IF is can they meet and exceed targets from now on and can they reduce costs to increase profit?
With the recent rise in POG (which I think Sotolo says is geared 3 to 1 with costs?) then that could give a bit of leeway. If they meet targets and gold remains high, they things should look a lot better.
I haven't a clue about Doropo. If they make a decision next summer, then they will either go for it if they think it is a goer or they will get rid of it and stop spending money on it.
I still think there are trust issues with the market and Centamin-------but if we get a couple of good things or meet or exceed targets, that could come back.
I still think Martin Horgan will always underplay targets ------because if you exceed them you are doing well and if you don't , its still looks good for you.
Please can somebody else give us something a bit positive?
Paul and all.
Get your questions in for the 30th oct.
If enough people mail in, surely the key questions can’t be avoided.
But people must email in.
Steve, From past experience they won't answer any awkward questions at this event, this is all part of going through the motions of improving communication with share holders but being selective about which questions they answer.
I have copies of many questions over the years which have never been acknowledged let alone answered !
All
Send in your questions
Mr T
Why dont you compile all questions asked, AND ANSWERED
and all asked and NOT ANSWERED
...and put them on this forum
Then we can use this forum to good effect and see the nature of the persona we are dealing with ?
cheers
the gnome
Paul Metcalfe I think your assessment is accurate and entirely reasonable.
A lot of the changes Horgan has made are transforming the efficiency of sukari but the effect is cumulative and not necessarily noticed overnight. The operation is being improved and brought to standard across the piece. I believe him when he says a safe mine is a well-run mine and Sukari has been one of the safest.
Why is the SP in the bin then? Look at the world. Two wars currently raging with the threat that both could lead to global conflagration, one of them on Sukari's doorstep. Strong possibility of a global recession and debt crises. Also centamin is going to be spending a lot of money in the next 3 years and that adds risk to the company.
I still think it is hugely undervalued at present and topped up yesterday at 81.7 Wish I'd waited a few hours to do so but hey ho, still think it's a good bet.
Can anyone explain the benefit of investing in gold miner stocks nowadays...
Before gold was supposed to be a hedge against inflation that turned out to be rubbish
Now gold prices have jumped near 2000 but gold miner stock (UK) didn't even move up instead it went down.
Yes what will it take gold up 10% since October low cey currently up 2% mad
UK Gold miner stocks generally move with the gold price. Not anymore it seems... High dollar price and high interest rate I think UK gold miner stocks are not worth investing in now.
it better to buy gold ETF.
Another thing if it breaks 79 support we might see a big drop ....
Dealts anyone who has been a long termer will be disappointed with the performance of Centamin' s SP. So I am very interested in what Horgan has to say to us on Monday. As many of us as possible need to get registered for the presentation and fire in a question or two before hand.
Keep the questions short and concise and who knows we might get some very important insights to their thoughts.
Hi Mr Gnome,
Possibly you doubt I asked them ?
However some forum member and other shareholders were copied in to the majority and they may care to confirm that I am telling the truth?
Some of the unanswered emails sent included questions and queries raised by other fellow shareholders and forum members in an attempt to get them answered.
I don't think though that it would be appreciated by some members if I were to post all of them on the forum as they would take up space on a very considerable number of pages, also some of the questions included details from other third party professionals that are such that it may not be appropriate to put them in a public domain such as a forum, they would be better answer in the first instance by the company and then the relevant parts of those answers posted to forum members.
May I suggest the some forums members submit their questions direct to the company and/or to FTI as it will be interesting to see if they get them answered fully?
Has anyone considered the reasons why a new PR company was appointed and in what ways if any has this improved the general market and public perception of the company or how has it affected communications with shareholders?
Tibbs
Fair comments and good points 3bear!
Thank you DASUT, do you think this warrants a question or two?
The most recent Berenberg assessment.
Note the paragraph :
2) the growing contract mining business (we note however, that it looks likely that the Sukari
(Egypt) load and haul contract will not be extended);
Tibbs
Dasut I've already posted one question.
When was the wall movement fixed as we've not had a comprehensive update on something that caused the share price to colapse in October
Excellent Ken!
Tibbs
Mr T I just wonder if this question will be fired into the procrastination box.
There are so many questions that could be put to Centamin especially from you guys that have been in the mining industry.
I work in construction but don't have the first hand knowledge like Dasut and goldknome.
So I just pick up on things that I feel should be explained by the company.
No I do not doubt, I would just like to know what they answer and what they leave to go through to the wicket keeper, so to speak .. (sorry to bring cricket into it)
regards
The Gnome
DASUT, I am sure all long-holders are very angery with the performance of Centamin, especially when the $US is almost over 34 GPb, that should lower the AISC , it seems the cost of mining goes mostly also to management salary and bonuses that they didnt deserve it.
I bet the management spending a few days per year on site to see whats happening (I may be wrong but that is my feeling)
This management should be removed and not be supported for any of the requested Salary increase and bonuses this year .
Many promises and nothing but failuer to achieve any target.
GLTA,
Dan
Absolute agree Dan!
If I were writing the senior managements annual revive it would state "Room for great improvement, no bonuses until this is forthcoming!"
Sorry Tibbs what is your question? Are you referring to the waste contract? This isn't contract mining and the only contract mining they had was the underground which has now finished. Capital in addition to the waste movement also has a drill and blast contract, still not contract mining but it is a contractor rather than owner.
The growing contract mining business I find interesting because when I got involved in the mining industry it was late 80's early 90's when mining was a come again business in Ghana where all but Ashanti Goldfields were defunct having been nationalised. This saw juniors initially entering the market and eventually mid to late 90's we saw mines growing and the arrival of majors and contractors, initially from Australia, South Africa, England, Ireland, Scotland now a good number of indigenous companies are involved.
If you want to see a scope of work for contract mining take a look at the technical report for Doropo on the Centamin web site from memory think it is covered in section 16.4.