Q2 results aren't out until July 9th so there's not lots of "good news" to increase sp for the next 2-3 weeks. RSI also doesn't have far to go until this is oversold. I'll guess that it stays in the 60's before recovering.
I resemble that remark. Sold all my shares and hope to buy back on a dip. Would be just my luck if it keeps going up but at some point you need to cash in.
Q1 Financials are being released Tuesday. The prelims were better than expected so I'm hoping that carries thru with the AISC and profits. I wonder when we'll get an update on reserves and resources for Sukari?
Cycle watchers are predicting gold prices to rise over the next 2-3 weeks. If so than Centamin could reach 70p, or even higher. After that they're predicting gold will drift lower and maybe reach a new (and final) low. I've been holding/accumulating since 2012 and Centamin is my best performing stock. I'm tempted to sell on this rise and buy back in the summer but .....
If I recall correctly the SCC meets and makes ruling on the second Saturday of each month. April 11th is the next chance for a ruling on whether Law 32 is constitutional.
I find it reassuring that institutional traders like Van Eck can get it wrong and miss a price increase by one day. It means the system isn't rigged for insiders.
Investment Law: Arham Online has a report today on the Madinaty case settlement. It states the gov't approved changes to the investment law to prevent third parties from challenging contracts between investors and gov't. The article doesn't really explain why the Madinaty case was settled with a monetary payment and I remain confused. Could this be a sign the Centamin case will be resolved by the ammendment???
Centamin normally hosts a teleconference to answer questions from investors and analysts about the annual report. Last year it was held at 9 AM (London Time) on the day the annual report was released. Years ago they had separate calls for the UK and North American markets but last year it was just one call which was too early for many in North America. The details for calling in were in the annual report so you may need to be on the ball the moment it's released.
daz66 seems to this that the court process in Egypt functions w/o corruption. To date the movement of the cc thru the system shows a system where the gov't and the court are at cross purposes and judges may be acting to prolong/preserve their power over system where wealth/power is extracted by these courts from investors. The various layer of the legal system move so slowly that it makes us believe that they are each extracting their price from companies like Centamin to move things along. Remember that Centamin has paid approx $100 million USD in "advance profit sharing" payments to Egypt. Are these real or are they payments made (bribes) over the cc. Egypt doesn't get to be named one of the worst countries for foreign investment for nothing.
Thanks for the opposing view - I'm not too worried as my average cost is still below anything we've seen since 2013. It's been an education for me to follow the trials and tribulations of a good company in a country with such a terrible environment for foreign investment. I see the gov't trying to change the culture but that's a difficult job and they might not succeed. Are the courts threatened by the proposed changes? Will the courts thwart the governments efforts?