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Such a shame that this was 127 not long ago, been following this like a hawk as I’m deeply invested here but noticed a down pattern even when gold was going up a bit, as if this stopped following gold after the last RNS…, as some suggested here maybe it’s the AISC that scared the market away… I still believe this will come good one day esp when gold breaks that 2k barrier.
Yep alas, the blot on my portfolio this week- gained like a Japanese train, that has now been taken over by a UK train alas.
The dollar index today is the same as it was on 31 January when gold was 50 dollars higher,it was obvious that the price of gold had gone up to quickly in the last few weeks, and there was going to be a correction which we have seen today.At the moment the key 1880 is holding but if that breaks we could see it going back towards the 1820 level and i think that is the reason/fear for the big drop in share price today although i appreciate it has been going down for the last few days as well
Patryk, gold miners tend to lead the gold price, as other note gold had gone up too far too fast and miners have been anticipating that for a couple of weeks, plus with Cey add on the results. Miners tend to be a surprisingly good leading indicator of the gold price, hopefully it is just a big correction but gold is fickle, the miners should give us. Little advance notice
So 1880 broke today :( what is your view on bottom here £1 or are we going back to the 80-90 range again? What are the lth realistic views here? as watching this through years my guess is it’s difficult to predict, I was under the impression that once the issues with collapsed wall get resolved, Cey would return to realistic value…
This share is completely hobbled at present by the $467m to clear up the mess left by chancers Andrew Pardey & Youssef El Raghy who in order to gloss over the cracks were high grading for well over five years which has increased the AISC astronomically and so until there is some real evidence that the Sukari operation clear up is completed and going to deliver a sustainable and respectable guidance there are only promises of what might be achieved, some time down the road!
Parky
The day isnt over yet see what the price of gold is at close,but yes it will more than likely go back to £1.I would be ineterested to hear why you choice this share it hasnt really got much going for it with high costs and it doesnt even pay a good dividend anymore.
If it does go to pound or lower ,I am going to buy another 100,000 quid in this.
It seems some think its on its **** ,ok your opinion, to me a good buying opportunity , getting out of some spare fiat currency.
Tell me why not, if you can prove it, I would be interested, if not I will buy gold coins, pity cey did not sell direct as a sideline.
I can assure you all I am genuine, some may think foolish ,so be it.
Its my opinion. :-)
If Centamin delivers on its guidance for 2023 then Q1 results are going to cause some short term pain with production of around 100,000oz and AISC of $150m you're looking at a Q1 AISC/oz sold of 1500+ just like last year. I would not be surprised to see the GP back in the 90s on this news, and I will be piling in at that point as Q2, 3 and 4 will all steadily improve and years 2023, 24 and 25 will each be better than the last
Patryk. the share price has returned to realistic value, though if gold price falls shares would be lower, current dividend is about 4% so share price is hardly too low, nor much too high looking forward. For IF production rises as predicted and IF costs remain under control and IF gold stays around 1900 hopefully it will rise, but as said realistic for now
The clues on Centamin retreat from recent high.
1. Q4 report has Q1 2023 on lower production numbers as they reminded everyone of maintenance schedules and the like.
2. CEO say CEY 80's price was really cheap and we are finally at fair value.
3. The USD on RSI falls near to an oversold trigger that it has only done so 6 times in recent two decades. Implies gold has to retreat at some point and the trigger was pulled on Friday with USD up and gold USD down.
4. China returns to work after New Year holidays. Often get pullbacks as physical peak buying cools and paper trades have more sway.
5. GDX ETFs stall out with buying support exhausted.
6. More Gold eagle articles appear suggesting February pull back in gold, mainly sentiment indicators. (Large/Medium miners respond in advance).
Thanx all for replying, seems that for now 90-£1 range is where we belong, reason why I invested in Centamin is because of the size of mine and future potential of SP increase…, is anyone here in Anglo Asian by any chance bought a few there as well as their dividend is good…
Agree 3bear. I'll be adding also in low 90's if it gets there !!
80-120 is a trading range although it took a while to breakout over a £1. Dividend is good to collect, a bonus.
It oversold at the moment so I took a 1st tranche of 10 back in around 104.
Will add down to 80s and reduce if it rises.
GL.
MaryBr190, with much negative talk on here, well done ignoring the noise. 19th Jan RNS says 'Robust balance sheet: cash and liquid assets of US$156.6 million, as at 31 December 2022' despite the noise here !!