Tom Winnifrith Bearcast: No I am not buying Red Rock or Open Orphan tomorrow or any Ben & Jerry's ice cream
San Leon Energy deals in Nigeria could come at just the right time to take advantage of higher oil prices and an easing of OPEC restrictions
Fully-listed Egyptian Gold-producer Centamin (CEY) released its Q2 report this morning. The good news is that all seems on track to meet full-year guidance as the company continues its recovery from the ground movement issues last autumn and an interim dividend is on the way.
Last week the Gold price closed up just $6 at $1788. This week it has put in a slightly less modest increase to $1808. Gold has notched up a hat-trick of weekly gains; I’m not so sure that this means it is time for the return of the Gold bull-market just yet, but there are some positive signs.
Centamin (CEY) says that it is “pleased to announce” the results of a review of its West African exploration portfolio. Companies always say they are pleased to announce - should Centamin be pleased? The shares are down on the RNS.
Fully-listed Egyptian Gold-producer Centamin (CEY) updated the market on its West African portfolio of exploration assets yesterday. Broadly speaking, one – Doropo - is being progressed, a second- ABC - is to undergo further testing and a third – Batie West - looks like being shelved. Since I have largely ignored these assets as I value Centamin as it stands now, I’m not so concerned with shelving assets – but the one which is being progressed looks very interesting and could add significant value.
Centamin (CEY) has always been one of my favourite gold producers, and although I may not be as bullish as fellow ShareProphets writer Nigel Somerville, I still expect the metal to do well over the next few years.
Fully-listed Egyptian gold producer Centamin (CEY) offered up its first quarter report this morning and the big news is that once again the outlook is unchanged. Given the ground movement issues revealed last autumn and the consequent reduction in gold produced and higher costs, it is pleasing to see that the company’s response is thus far working out as planned.
Gold miner in Egypt Centamin (CEY) has announced its results for the 2020 calendar year, emphasising “record revenue of US$829 million… generated significant free cash flow, of US$142 million, a 91% increase, making it possible to propose and pay dividends attributable to 2020 of US$104 million” but also ‘impacted guidance’. But that impacted guidance was already known about, there were no new nasties here. Indeed...
Gold miner in Egypt Centamin (CEY) announced results for the 2020 calendar year emphasising “record revenue of US$829 million… generated significant free cash flow, of US$142 million, a 91% increase, making it possible to propose and pay dividends attributable to 2020 of US$104 million” but also ‘impacted guidance’. A recovery buy?
Yesterday I indicated what I was looking for from today’s FY20 results from fully-listed Egyptian Gold miner Centamin (CEY). So what does the score card show?
Fully-listed Egyptian Gold-miner Centamin (CEY) has had a torrid few months and the shares are looking battered and bruised. Tomorrow sees full-year results to December 2020 and my hopes are high for a turn of fortune for this ongoing tip of mine – but it is a nail-biting wait!
This has not been a very good share tip so far. But things are getting better for the company and the share price and they will get better still. It takes a while to restore both output and even longer to regain investor confidence. A Q4 2020 Report from Centamin (CEY) emphasises that 2020 results will be in-line with October guidance and reiterates the 2021 outlook . This has helped the shares higher but there is more to come. On what has not been a great tip so far we suggest averaging down.
Fully-listed Egyptian Gold producer Centamin (CEY) has reassured the market this morning with its fourth quarter report for 2020. The company has certainly had a torrid time of it since the announcement that ground movement had been detected in a waste dump which led to the suspension of open-pit mining at the West Wall. But this morning the company announced that it had reached revised target production for the year.
My second tip for 2020 last year in the ShareProphets Christmas tipfest was fully-listed Egyptian Gold-producer Centamin (CEY) at 117p. It has been a great time to be investing in Gold but it has not been an easy time for investing in Centamin and ground movement difficulties emerged which affected production and continue to do so. So has this tip been a failure?
Fully-listed Egyptian Gold-producer Centamin (CEY) has released RNSs showing that its top brass have been dipping into their own pockets to buy its shares in the wake of last week’s updated mine plan. As discussed HERE and HERE there is plenty to suggest that the offering of a very attractive dividend has much to commend the shares and now Chairman James Rutherford and CEO Martin Horgan have shown the way.
Centamin (CEY) has updated on actions it is taking to ‘unlock its potential’...this has been a poor share tip from us but this is the cue to average down and buy
Centamin (CEY) has updated on actions it is taking to ‘unlock its potential’ – including expanding and extending an existing drilling contract and commencing a waste contract. However, more pertinently here is the outlook on production...
Fully listed Egyptian gold-miner Centamin (CEY) has released the promised life of asset review this morning. In the wake of ground movement troubles, this an important step in regaining investor trust. The good news is that the shares did not fall precipitously…..
I have said before that I think the sell-off in fully listed Centamin (CEY) following its ground movement troubles is way overdone, and marked the stock as a buy. But with the shares heavily down again - this time not on news from the company, but on Pfizer’s news on its Covid vaccine - you can now pile in for just 113p a pop. With another update from the company due in just three weeks, do you feel lucky, punk?...
Gold miner in Egypt Centamin (CEY) has updated emphasising “the third quarter marked another solid performance”, yet the shares have dropped back to 131.3p. The reason is a reduction in guidance for 2021 but the market has over-reacted...
Gold miner in Egypt Centamin (CEY) has updated we investors emphasising “the third quarter marked another solid performance”, yet the shares have dropped back to 131.3p., That is because of what it says about 2021 but the market has over-reacted.
Hello, Share Smoochers. As it’s the non-trading weekend, let’s take time to consider the dead cat bounce. Just because it can be temporary, doesn't mean we can’t trade it successfully. On the other hand, we need to be tuned to the difference between a short-term feline leap and a more permanent rally following an unfair sell-off. A few days ago, such an event befell Centamin (CEY), the well-known Egyptian gold miner.
Fully-listed Egyptian gold-miner Centamin has updated the market this morning with its Q3 report and revised outlook in view of the ground movement detected at the Stage 4 West Wall as previously advised. The market has not taken today’s news well, with the shares down by another 20% to 130p (last seen) but I suggest readers take a slightly longer term view and regard this morning’s drop as another over-reaction to a temporary problem. In short, whilst this morning’s news is disappointing in the short term, the market’s reaction has thrown up a buying opportunity.
We recommended shares in Centamin (CEY) amidst market panic in March and they rose faster than even we expected, seeing us take a more than 60%, little more than 1 month, profit. They went on to above 230p, but are currently 160p to buy following a “Sukari Operational Update”. We believe there to have been a big over-reaction to that update and so...
Shares in gold miner in Egypt Centamin (CEY) are down sharply on what is bad news. But the market has over-reacted in a big way and since we also expect gold to head higher in the run up to Christmas, this looks a great trading buy...
I commented last week that I saw the sell-off in fully-listed Centamin (CEY) shares as a buying opportunity. The drop was due to an announcement from Centamin that movement had been detected and that consequently higher-grade open pit mining had been suspended at the Stage 4 West Wall at Sukari, and Q4 production is expected to come in at just 70,000 oz gold. This morning it was announced that Chairman James Rutherford has been buying shares.
Oh dear – this is not what the doctor ordered at all. Fully-listed Centamin (CEY) has announced the suspension of open pit operations at the Stage 4 West Wall of its Sukari gold mine. This follows the detection of movement in a localised area of waste material and production for Q4 will be heavily reduced to around 70,000 oz. But is it the disaster it first appears?
Annoyingly, Jordan Roy-Byrne of TheDailyGold.com seems to be right yet again! I had wondered whether the worst of the correction in Gold and gold stocks was over, Roy Byrne reckoned no and Gold headed south. But the general direction of travel is up, so corrections will throw up opportunities and I think one is coming with fully-listed Centamin (CEY).
One of the joys of writing for this very fine website is the intelligence of the readership. And that brings me to Pierotlunaire (who I’m sure won’t mind having his tummy tickled!) who asks, in relation to Egyptian gold miner Centamin (CEY) which offered up storming interims on Tuesday: What’s the fundamental basis for your 250p target? Apart from Jefferies at 240p, most brokers come up with less than 200p (although they may update following these results). There’s no point following a tip based on figures plucked from the air, even if the tip is as successful as my tip on Centamin! So it is a very good question.
Fully-listed Egyptian gold-miner Centamin (CEY) has released its half-year results to the end of June this morning and they look great. And the interim dividend has been hiked by 50% to 6 US cents per share (as predicted in these parts), with the cheque arriving on 11 September a couple of weeks earlier than last year. Yum-yum...
Shares in fully-listed Egyptian gold miner Centamin (CEY) have broken through the £2 mark to sit at 210.5p last seen. With the gold price now having taken out the all-time high of $1921 per ounce set back in 2011 and up at $1941 as I write, it seems that my predicted turbulence as the gold price tackled the all-time mark has been in the form of an updraft so far.
Fully-listed Egyptian gold miner Centamin (CEY) has produced its Q2 report this morning and the numbers read well – the only thing missing was a hint as to the size of the forthcoming interim dividend. But despite the Covid crisis, Centamin is awash with cash and everything seems to be proceeding in line with expectations.
Tomorrow is a big day for investors in fully-listed Centamin (CEY) as it is due to produce its second quarter report, with Interims to follow three weeks later. Centamin is one of my gold tips, so naturally I anticipate the numbers with particular interest.
Just two days before Wirecard, Germany’s biggest fraud since Hitler, was unmasked, it became the latest in a line of frauds to get a glowing endorsement from Ed Croft’s stock picking system at Stockopedia. And thus, the CEO’s of ten gold stocks should be warned that they too have been granted the sweet kiss of death that is a Stockopedia endorsement. Gulp… I own one of them.
For the benefit of Tom Winnifrith, who is considering fully listed Egyptian gold miner Centamin (CEY) as a possible investment for his SIPP windfall, the company offered an update on its quarterly performance to 31 March, the forthcoming dividend of 6 US cents and the effects of the Covid-19 virus so far……and the news was good.
Fully-listed Egyptian gold producer Centamin (CEY) was one of my tips of the year and my first target was 150p. With the shares now at 145.5p and with a rising gold price I thought it was time for an update.
Fully-listed Egyptian gold miner Centamin (CEY) has announced Q4 results, including confirmation of its intention to pay an increased full year dividend of 6 US cents per share to add to the 4 cents paid out at the half year. The numbers are, despite missing the target of scraping in line with the full year production target, quite impressive and bode well for the future...
Fully-listed Egyptian gold miner Centamin (CEY) - my tip of the year at 117p or so - has announced that the proposed possible offer from Canadian-listed Endeavour is off, after the two sides failed to reach agreement over valuation. Shares in Centamin are off by 8% on the news, to 117p, though we also now know that Centamin’s final dividend will be a tasty 6 US cents, above the previous stated target of at least 4 cents as I had suggested was on the cards. Added to the interim of 4 cents, that makes 10 cents – around 7.7p. At the current share price, that comes out at a yield of 6.58%...
Fully-listed Egyptian gold producer Centamin (CEY) has released its FY19 production numbers – showing that the company missed the lower end by around 10,000 oz gold. Whilst a bit of a disappointment, the shares are actually up on the news as 2020 production guidance is unchanged and whilst the company had hoped to scrape in with 490,000 ounces, after a difficult year it is not entirely surprising that it didn’t quite make it...
Better news emerged yesterday from Egyptian gold play, fully listed Centamin (CEY) with regard to its previously stalemated position with potential all-paper Canadian suitor Endeavour Mining. It seems that Endeavour has now furnished Centamin with the due diligence paperwork requested and in return Centamin has requested and got an extension to the PUSU (put up or shut up) deadline at the end of this month to give Endeavour until January 14 to decide whether to make an offer.
Canadian-listed Endeavour Mining updated on progress with its proposed bride on Monday and now today fully-listed Centamin (CEY) has responded with a downbeat statement. But despite Centamin wriggling, it still looks as though things could progress.
Having noted that fully-listed Egyptian gold miner Centamin (CEY) had rejected approaches from Canadian-listed Endeavour with regard to a proposed all-share tie-up on grounds of valuation, but that Centamin had not turned its nose up completely, this morning we learn that talks have finally got underway. Is it game on, then?
Fully-listed Egyptian gold-miner Centamin (CEY) saw its shares riding high on Tuesday in the wake of news of a potential bid from Canadian peer Endeavour Mining in the form of a proposed all-share deal which valued Centamin at around £1.5 billion. The shares, having been knocking around 110p moved up to 130p at the top – beating the intimated deal price of 126.27p – but have since dropped back and closed last week at 118.55p as the market appeared to lose interest. So is it now a buy?
It’s not often that this happens to me, but my little holding in fully-listed Centamin (CEY), the Egyptian gold miner, shot upwards today as it has received a possible bid from Canadian-listed Endeavour Mining Corporation. The proposed all-share deal has thus far been rejected by Centamin but the stock has closed 14.8% higher at 128.8p which perhaps suggests the market can see something happening, if not with Endeavour then with some other possible suitor.
It wasn’t a formal tip from me but having mentioned fully-listed Centamin (CEY) a good few times saying I had a target of 150p to top-slice, it seems only fair that I flag up that the mark has been reached so a further handful of my shares are going into the shop window.
I commented that I had bought shares in fully-listed Egyptian gold miner Centamin (CEY) at around £1 with the proceeds of my part-sale of AIM-listed Turkish goldie Ariana (AAU), partly thanks to Gary Newman who thought that the shares had overreacted to bad news. This morning Centamin reported its Interims…..
Hello, Share Screechers. With so much uncertainty in the world and dire warnings about share prices, some given on this beautiful website, it might be worth considering other forms of investment. I’ve been tempted by buying works of art, but as I know nothing about the subject I decided against it. And that's despite some huge profits art investors have seen over the last few years.
The market has been slaughtering even the larger companies over any sort of disappointing results recently, but for me that further strengthens the argument to buy shares in Centamin (CEY).
Hello, Share Jumpers. As the Footsie continues to gain ground with the growing prospect that there’ll be a Brexit soft landing, after all, you could be tempted to veer away from investing in gold. But I’m still minded to have at least a toehold in this hedge against recessions, both homegrown and worldwide...
Hello, Share Twisters. Not that long ago I suggested you might buy gold. And in particular, shares in an Egyptian miner, Centamin (CEY). Its share price has risen by about 25% since then. But I claim no credit for that, as there was little doubt that gold is becoming more desirable.
Hello, Share Punchers. With fears of Brexit continuing to cancel out the Santa Rally, our thoughts should turn more to that useful hedge against disaster - gold. Now short of buying a few gold bars, which I haven't entirely discounted, by the way, the best way to take advantage of gold is to pick up mining stock. There are a lot of small gold explorers and even producers that I will continue to avoid. But the larger ones might be worth looking into...
Centamin (CEY) has had a bad run of form of late, but I believe that this is just a temporary blip in its fortunes and it presents a fantastic buying opportunity for the future.
Centamin (CEY) has taken a big hit to its share price over the past week or so and has seen getting on for £400 million wiped off of the value of the company.
A load of people respected in the Big City, including our own Uncle Tom, believe that thinking ‘Gold’ is a jolly good mindset to have. After my current experience with Beaufort Securities, I am minded to buy a bar of gold and stick it under my bed. I could also buy the real thing from an agent and he or she will keep it for me.
Gold has been very difficult to read lately, with a lot of the swings making very little sense in the context of the events that have been driving them.
Hello Share Peelers. Some of the smarter minds in the big city keep telling us that gold will explode in value sooner or later. And yet the price of the yellow stuff is not exactly exploding. Never mind, if only as a hedge against shares in all other sectors, it makes sense to maintain an interest in gold.
Hello Share Scuffers. As the world wobbles around on top of a gyrating beachball of economic uncertainty, mostly caused by a roller-coasting oil price, gold seems as good a bet as any. Currencies are nearly all under threat, it seems to me, which leaves gold in a great position. But apart from buying gold bars, which is inconvenient, we must consider investing in gold miners.
Hello Share Hopers. Gold prices are not as high as they might be, given the shakiness of the major currencies over this year. These currencies may be come even more unstable in 2017 - the dollar, euro and pound.
Centamin (CEY) has proved a great example that it is possible to buy shares based on them being fundamentally too cheap, and then hold until the company recovers and you can reap the rewards.
Hello Share Chunterers. Gold is flavour of the month, if not the next few years. So let’s take another peek at Centamin (CEY) the Egyptian gold producer. Now this poor country has got it in the neck again this week with an aeroplane destined for that country tragically falling out of the sky*.
Hello Share Smoochers. I got so fed up with Centamin (CEY) the big Egyptian gold miner losing share value on a daily basis that I stopped checking its share price nearly a year ago. My shares just festered away with my most little-used broker. I half-heartedly hoped for a Shrodinger Cat-type recovery if I did not look regularly at the price.
John Meyer of SP Angel this morning comments on Anglo Asian Mining (AAZ), Centamin (CEY), Gem Diamonds (GEMD), Minera IRL (MIRL) and Stratex (STI) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
John Meyer of SP Angel this morning comments on Asiamet Resources (ARS), Centamin (CEY) and Sierra Rutile (SRX) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
John Meyer of SP Angel this morning comments on Centamin (CEY), Dalradian Resources (DALR), EMED Mining (EMED), Gemfields (GEM) & Herencia Resources (HER) as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
Hello Share Bottlers. I’ve held shares in Centamin (CEY), the Egyptian gold miner for some years now. Given the dramatic events that have shaken that interesting country, the share price has followed rather a boring path.
Strange, is probably the best description of the recent price action that Centamin has served up on its daily chart. This point is underlined by the way that since the start of the year we have seen the stock whipsaw either side of the time of 200 day moving average currently around the 60p mark.
John Meyer of SP Angel this morning comments on Centamin, Caledonia Mining, Metminco, Horizonte Minerals & Kirkland Gold as well as offering a detailed macro view on the news that is shaping global mining and the AIM mining pond.
Gold producers are well worth a look for anyone who is bullish on the metal itself, and offer some degree of leveraged play. One which would definitely be on my list to have a look at is Centamin Egypt (CEY) which is currently trading around 54p, and with a market cap of £620 million.
Despite being “pleased to announce preliminary production results from its Sukari gold mine in Egypt for the quarter ended 31 March 2014”, shares in Centamin (CEY) have currently slipped to below 53p on the day. The following reviews why.
It has been easy to sound like a broken record regarding the technical prospects for Centamin (CEY). So here I go again: the shares are still a buy.
The problem as far as shares of Centamin (CEY) are concerned is that even at the best of times we are looking at a situation where the price action is extremely volatile and spiky.
Centamin shares have provided entertainment all kinds to traders over recent months, although to be fair it can be said that given the horrific price action as far as the underlying metal is concerned we have not been treated to as bad a ride as one might have expected. That said, the current situation is pivotal given the way that the floor of a rising trend channel from March this year is now in play.
It would appear that in the recent past shares of Centamin (CEY) have been as disappointing as the position of the underlying metal it mines, gold. That said, given the trouble and strife in the miner’s adoptive home in Egypt it can be argued that the rebound from well below 30p at the height of the crisis to even 45p plus currently is something of an achievement.
Centamin (CEY) is a stock that holds a special place for many private investors in the sense that almost all of them claim to have had the good fortune of being lined up for the shares from well below the current 50p zone. Well here is some good news for you all.
Centamin (CEY) has announced its preliminary production figures from its Sukari Gold Mine in Egypt for the quarter ended 30 September 2013. Total gold production for the quarter was 84,757oz. The mine also reported its highest quarterly underground tonnes mined at 152kt and tonnes processed through the mill at 1,463kt. Broker Fox Davies reacted positively. It writes:
You rather lose track of what is going on in Egypt. The gang rapes, the riots, demonstrations, the shooting of 72 folk on Saturday, boys being hurled from rooftops. It is all a blur of horror – the sort of place I’d be advising the Sefton Resources (SER) board to spend their summer holidays. But to recap:
Centamin (CEY), the gold miner operating in the delightful peaceful paradise on earth that is Egypt has today announced Q2 production numbers. As a bear of this stock since last summer when Egypt headed down the Islamofascist route it would be churlish of me not to admit that the numbers are not excellent. They are superb. But with respect that is not the point.
If a company has major news it should treat all investors the same and issue an RNS. And with that in mind what the hell is Centamin (CEY) playing at? Telling a newswire journalist material information so that City investors are up to speed but mug punters without an access to a Reuters terminal are kept in the dark shows a shocking contempt for private investors.
The time has come to ask if Centamin has finally done enough to build a base in the mid 30p’s, Nighthawk is ready to break out of its near term flag, and has its CEO finally scuppered the share price of Iofina?
Fully listed gold miner Centamin (CEY) has announced its results from its Sukari Gold Mine in Egypt for the quarter ended 31 March 2013.
What Bulls of Centamin have failed to appreciate in recent months is that rather than rejoicing that the Sukari mine/gold production was at record levels, realise that the more wealth the group creates, the greater the attraction it is for the Egyptian authorities to grab the goose laying the golden eggs.
Oh Dear. Oh Dear. Oh Dear. It looks as if the Islamofascists in Egypt are moving a step closer to seizing Centamin’s (CEY) flagship Sukari mine, but the company (and its shareholders) are in denial.
The present situation at Gold miner Centamin reminds us of the pitfalls of attempting to call time on a downtrend, and how if you need to ask, it is probably not over.
Zak Mir, the UK's stupidest chartist, outlines the outlook for leading gold stocks such as Centamin (CEY), Medusa (MML) and Vatukoula (VGM) on video. Is the party finally over?
Reasons to be bearish part 2. The first reason to sell Centamin (CEY) was political – it operates in Egypt where there is zero long term visibility for businesses since the regime change. But there is now a fundamental reason to offload the stock pronto – the maths simply do not stack up.
*Chart Flash* Unfilled gap to the downside below 200 day moving average at 43p January - April Island Top Formation Target Towards 20p while below 200 day moving average!
I have been bearish about FTSE 250 gold miner Centamin ("CEY":http://www.shareprophets.com/epic/cey) since last summer when the overthrow of kleptocrat President Mubarak introduced a whole new dynamic to valuation.
As far as trending / most followed stocks outside the AIM sphere and outside the banking sector, it can be said that there are few companies that traders and investors are more obsessed by than Centamin.
Centamin (CEY), the London and Canada listed gold miner operating in Egypt, has announced record quarterly gold production of 85,543 ounces for the period closing December 31st 2012 – taking full year production to 262,958 ounces, a 30% increase on 2011 and above guidance of 250,000 ounces. The shares have responded by currently trading just over 5.5p higher at 49.75p, capitalising the company at just under £550 million. The company emphasises the numbers as “particularly pleasing given the challenges faced during the year” but the announcement also makes clear that challenges remain. The following details my current view…
On 20th December fully listed gold miner Centamin (CEY) announced that “following the recently-announced export of gold and resumption of fuel supply, operations have now resumed at Sukari.” The market read this as meaning that output and cashflow generation was now back on track. The shares have thus rallied to 39.3p. But this morning, top broker Fox Davies has published a research report stating “We also understand that gold exports have again been suspended.” Well have they? A RNS statement from Centamin is called for pretty urgently. This is a critical matter but the answer does not matter but the episode reminds us of why the shares are a sell.
Fully listed Egyptian gold miner Centamin (CEY) has today provided a market update on its various woes and at two levels it does not sound good at all. And it is not just me saying this, it seems that some brokers agree. To hoots of Bulletin Board derision I warned folks repeatedly ( when the shares were much higher than today’s 60.2p) that Centamin was a sell.
I think that my views on fully listed Egyptian Gold miner Centamin (CEY) are well known. For me the great risk is a political one – I trust the Islamofascist Muslim Brotherhood rulers of Egypt less than I’d trust an 1970s Radio 1 DJ to do a spot of babysitting. But Fox Davies has another concern: the fuel subsidy.
I have never said that Egypt-focused, London and Canada listed, gold miner Centamin (CEY) was a bad company. After all I tipped the shares at 8p on t1ps.com and got my readers to sell at 134p – not a bad result. My problem is that it operates in Egypt. That is the country next to Gaza happily assisting Hamas as the heat gets turned up in the region.
And now for the latest news from Centamin (CEY) vs the Islamofascist Peoples Court in Cairo – the fully listed gold miner has issued another statement (its third) on the ruling of last Tuesday which appeared to take away its key flagship asset, the Sukari gold mine. This is the most convincing statement yet from Centamin and the shares have rallied to 74p. That is another opportunity to sell and switch into a safer play. And here is why.
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