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Dear Centamin,
There is no mention of the sale of #BatieWest / #Konkera gold deposit in the latest presentation.
Please let shareholders know if management has spoken with the new #BurkinaFaso Minister of Mines Jean Alphonse SOME .
Centamin's board of directors have a long history of keeping shareholders in the dark, shirking their fiduciary duties and overall losing shareholders money.
Martin Horgan - please make the changes necessary to hold the BOD to account. Give the chamber of mines head Adama SORO a call - straighten this issue out before we lose yet another multi-million ounce deposit to the board's incompetency.
James Rutherford Ross Jerrard Sally Eyre Mark Bankes Marna Cloete Catharine Farrow Hennie Faul Craig Murray John Singleton B2Gold Corp. Barrick Gold Corporation Berenberg Capital Markets BlackRock VanEck Schroders Standard Life UK Vanguard
https://www.linkedin.com/posts/don-lawson-98619370_burkina-burkina-activity-6922584326719111168-ooPk?
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The last LinkedIn post was well received, gaining 4227 views, 75 reactions (likes) and several contacts with company insiders sharing their views and insight on what-is-going-on within the company. Enlightening to say the least...
Also, not sure if there was a good reason Centamin hired a former Berenberg / Peel Hunt analyst to be their new IR go-to or 'Group Corporate Manager' whatever that means. These folks are by and large useless - judging by the questions they consistently fail to ask . When was the last time these talking heads unearthed any useful information for shareholders? Just because they rub elbows in the UK banking scene shouldn't be qualification to a cushy job.
https://www.linkedin.com/in/michael-stoner-837ba022/?originalSubdomain=uk
Well done Cowichan keep it up, at least you are getting more answers than Centamin are willing to offer !
Cowichan Batie wasn't covered in the presentation but did get raised as a question and answered by both Horgan and Jerrard. Have a listen to the presentation on the website.
Thanks DASUT - I did catch it on the audio.
For me it wasn't much of an answer as opposed to an excuse. Also, if they already know it's reverted back to the state - I hope it doesn't take 2 years and 100 questions from shareholders to finally admit it - as was the case with Wadaraddo and Napelapara
When B2gold was recently having concession 'issues' with the state they handled the communication of the problem and reassurances discussions were ongoing with state officials exceptionally well - that level of accountability doesn't yet exist with Centamin.
Perhaps he needs to delegate better. Who is in charge of the Burkina Faso file? Let's hear from him or her directly. Surely a statement is possible. In fact it's so bad I'm quite sure I personally have better insight into what's going on in BF than some/most of the Centamin board members -
Thank you Dasut,
Do you feel then that Cowichans outstanding queries were then adequately covered or addressed in today's questions on Batie ?
Tibbs, Cowichan No I don't think the questions have been fully answered not sure that it is an excuse but definitely think it is an issue that Horgan has inherited too late for a straight forward solution and certainly something he could do without.
Having been in country during and after a coup I do understand the frustrations so am prepared to give him and the team the benefit of the doubt. No way am I saying what has happened and is currently going on is acceptable but reckon Horgan in particular has a considerable number of other issues and projects that can bring about more beneficial contributions.
Batie West didn't work out BUT it was only part of the overall package and if Doropo and ABC prove to be profitable mines then 2 out of 3 is a good return in mining terms.
If Cey can partner with the likes of a major or a company experienced with refractory ore then excellent but I don't think the ore body is necessarily the issue in attracting a partner but feel it is more likely the political risk.
So in Cey's favour is that BF government won't necessarily want to take the concession back as they will have the same problem, without the knowledge and Cey contacts, maybe with Centamin prepared to share the risk with a partner.
In my opinion it would be of no advantage for the BF government who has far more issues to worry about than taking back the concession, and will I believe rely on Centamin to encourage a suitably qualified organisation to take the ore body to the next levels.
So yes there definitely needs to be better communication and it shouldn't be the likes of us assuming what the issues are because I/we have no influence over the thoughts of investors.
Hi Dasut, thank you for your thought and opinion on these issues, you know the business far better then we do, not a perfect scenario by any means, so what you are saying seems to make sense,