Centamin Discussion Board http://www.iii.co.uk/investment/detail?code=cotn:CEY.L&display=discussion http://www.iii.co.uk/icons/logos/uk_logo.gif http://www.iii.co.uk tag:iii.co.uk,2003:tst.9265070 ..............

I would presume that these workers while they live on site have families who live elsewhere - as we know Sukhari is somewhat remote and there are no major (or even minor) centres of population nearby therefore I assume most if not all workers are bussed in. A four day shift allows them to work for four days and potentially spend up to four days with their families elsewhere in Egypt, if that's the case then it makes sense to me. The alternative is working five days and then spending the weekends travelling to see their families and then travelling back to start the Monday shift which I doubt would give them much family time and create a tired and discontented workforce with absenteeism and/or a high turnover of staff.

I am pleased that they are paying over the national average and are introducing strict drug tests etc and appear to be taking a robust view of working procedures. I'd rather read about a zero tolerance towards drug abuse than a regime where drug abuse is tolerated and accidents happen as a consequence.

I'm sure there will be accidents and even fatalities - several people have been killed in the UK in mining accidents recently and I would presume that H&S legislation is a lot more stringent in the UK than in Egypt. I'm not excusing deaths or accidents at Sukhari, just making the point that mining is a very dangerous activity and therefore all the more reason to establish a zero tolerance against dug use and enorce strict health and safety rules.

On the whole I thought it a poor article - I would expect a British newspaper to do a lot more than report allegations and to actively investigate the situation themselves and establish the veracity of the rumours, which this newspaper did not attempt to do. This does put CEY in an awkward situation, on the one hand if they rebut the article then they take the risk of perpetuating what might be a non-story but if they ignore it then it can take on a life of its own. By ValleyFloydRoad ]]> http://www.iii.co.uk/investment/detail?code=cotn:CEY.L&display=discussion&id=9265070&action=detail Wed, 08 Feb 2012 16:44:00 GMT ValleyFloydRoad tag:iii.co.uk,2003:tst.9264187 Safety is always an issue an yes men die. But mining is one of the safest jobs if you take all precautions. and yes you could get your walking papers if you show up impaired by alcool or drugs.
glta By weedman1 ]]> http://www.iii.co.uk/investment/detail?code=cotn:CEY.L&display=discussion&id=9264187&action=detail Wed, 08 Feb 2012 14:23:00 GMT weedman1 tag:iii.co.uk,2003:tst.9263879
My observations on the story being put about:

1. There is nothing Dickensian about a 12 hour shift pattern. Such patterns are common in the UK and elsewhere. A lot of workers like the free time which a 4-on 4-off gives them. I know I did when I worked those shifts myself for 3 years. In fact, it's hard to adjust back to 5-on 2-off.

2. If conditions are so bad, then why are workers clamouring to be reinstated? By ourmark ]]> http://www.iii.co.uk/investment/detail?code=cotn:CEY.L&display=discussion&id=9263879&action=detail Wed, 08 Feb 2012 13:38:00 GMT ourmark tag:iii.co.uk,2003:tst.9263235
Please call/email Centamin and stop the gossip.

katharine.sutton@centamin.com
+44 (0) 20 7569 1670 By TigerTrade ]]> http://www.iii.co.uk/investment/detail?code=cotn:CEY.L&display=discussion&id=9263235&action=detail Wed, 08 Feb 2012 11:46:00 GMT TigerTrade tag:iii.co.uk,2003:tst.9263201
Im sure if there were any work related deaths/injuries/spillages then they would have to be reported.A billion pound company has to answer to relevant authorities.

Not doubting this story for one minute and either way i expect the company to issue news confirming/denying this report.One thing after a bloomin other lol.

Normally the market would drop the SP by 20p following this and yet its up so take from that whatever you believe. Surprised PJ hasn't been on yet.

By pc7907 ]]> http://www.iii.co.uk/investment/detail?code=cotn:CEY.L&display=discussion&id=9263201&action=detail Wed, 08 Feb 2012 11:40:00 GMT pc7907 tag:iii.co.uk,2003:tst.9263059
If you have contacts in the country and Arab friends I think certain things could be checkable, the fact that production stopped (according to Mohamed Hamed, Deputy Director of the Marsa Alam Youth Center for Development), that "A delegation from the Ministry of Manpower's bureau in Hurghada visited the mine on Monday, but makes no promises regarding the realization of workers' demands, and that the mayor of Marsa Alam City, has "sought to re-instate 24 workers sacked from the different companies operating in the mine,"

Andy Reilly on the bright side it all looks fixable to me if enough efforts are made to fix it even if half of it is true.

Would be a pity for Centamin to trip itself up when it has such a increasingly promising future. By robjm66 ]]> http://www.iii.co.uk/investment/detail?code=cotn:CEY.L&display=discussion&id=9263059&action=detail Wed, 08 Feb 2012 11:16:00 GMT robjm66 tag:iii.co.uk,2003:tst.9262248
The report of worker unrest, is indeed distressing to me also, particularly in regards to health & safety & working conditions...It is also a repeat of previous reports from management regarding worker unrest during the uprisings...

12 hr shifts are normal practice in Australian mines where heat is a factor, but with aircon in plant & vehicle cabs, that reduces the worker exposure...

As the company is in recent prodution startup, with many new operations,the working practices are being based on Aussie best practices, adopted from Western Australia...

It may well prove to be the case that strict adhereance to H & S in the workplace is a difficult transition for workers new to this environment of industrial mining. Discipline procedures & dismissals for gross misconduct, create tension...

The Centamin CSR report of 2010
http://www.centamin.com.au/centamin/assets/lib/documents/CSRReport2010.pdf

Shows a good health & safety lost time injury report...A zero alcohol test report, but a worrying 25 drugs test positive...Now that could be an area of extreme friction...

I await the 2011 report which will include the underground mine details, where safety is always more of complicated issue...But if proactivly managed should not impinge on workers safety...

As always, many challenges, as the startup rolls out, & many systems bed in..."When the going gets tough the tough get going"...

Joshef El-Ragey was talking at the African Mining Indaba Tuesday (yesterday) as yet no details to hand...20 minutes in hall 4...

Holding steady as always...Phil...




By phil and leggett ]]> http://www.iii.co.uk/investment/detail?code=cotn:CEY.L&display=discussion&id=9262248&action=detail Wed, 08 Feb 2012 09:19:00 GMT phil and leggett tag:iii.co.uk,2003:tst.9262163 http://www.iii.co.uk/investment/detail?code=cotn:CEY.L&display=discussion&id=9262163&action=detail Wed, 08 Feb 2012 09:09:00 GMT Andy Reilly tag:iii.co.uk,2003:tst.9261905
'On a further note, robjm66's post has rattled my nerves a little regarding CEY's production, lets hope that the company gets on top of this problem quickly!'

not if 'the company' /is/ the problem.

And to everyone here...

It's too early for me to say I told you so, but it surely can't be far off until I do...

Regards
Peter
By peterd51 ]]> http://www.iii.co.uk/investment/detail?code=cotn:CEY.L&display=discussion&id=9261905&action=detail Wed, 08 Feb 2012 08:24:00 GMT peterd51 tag:iii.co.uk,2003:tst.9261448
At Centamin mine it was a couple of employees were fired for illegal smoke (Heroin, etc..) and those guys start rumors and contacting such news papers and sites claiming wrong news.

I have some sites in Arabic and I got it translated to me by an Egyptian friend.


By TigerTrade ]]> http://www.iii.co.uk/investment/detail?code=cotn:CEY.L&display=discussion&id=9261448&action=detail Tue, 07 Feb 2012 23:55:00 GMT TigerTrade tag:iii.co.uk,2003:tst.9261427
Sorry!

DTG By DavidtheGrim ]]> http://www.iii.co.uk/investment/detail?code=cotn:CEY.L&display=discussion&id=9261427&action=detail Tue, 07 Feb 2012 23:44:00 GMT DavidtheGrim tag:iii.co.uk,2003:tst.9261412
http://dl.dropbox.com/u/4216959/FTSE/FTSE100%20-%20Corrections%20and%20Reversal%202008-2011.JPG

FTSE100 is holding up very nicely and if a false dawn was to be shown from this rise I would have expected a heavy fall by now breaking down through 5,800, this hasn't happened yet only consolidation is taking place and the next target of 6000 to 6040 is within reach with the probability of heading higher, maybe not tomorrow so give it space to breath.

Greece/Portugal are old news, the market is expecting them to fold anyway........... The main question is what else is available to invest in directly without committing to a lengthy time frame? Not much out there at present.

We all know the Western world is in deep debts but assets remain a store of wealth because they are tangible and quickly trade-able, on the right side of the fence that is, I don't believe the garden gate has been opened yet!

The markets could even make an all time high from here but at present that's a wild guess but certainly not plausible.

If I'm rambling forgive me as I've been on the sauce tonight! All work of course!

On a further note, robjm66's post has rattled my nerves a little regarding CEY's production, lets hope that the company gets on top of this problem quickly!

ATB

DTG By DavidtheGrim ]]> http://www.iii.co.uk/investment/detail?code=cotn:CEY.L&display=discussion&id=9261412&action=detail Tue, 07 Feb 2012 23:38:00 GMT DavidtheGrim tag:iii.co.uk,2003:tst.9261160 ')" target="_new" rel="nofollow">http://www.egyptindependent.com/node/641801
http://news.egypt.com/english/permalink/82368.html

By robjm66 ]]> http://www.iii.co.uk/investment/detail?code=cotn:CEY.L&display=discussion&id=9261160&action=detail Tue, 07 Feb 2012 22:45:00 GMT robjm66 tag:iii.co.uk,2003:tst.9260983
Numerous, secret cash settlements of Gold contracts @ the crimex, begining this month, due i suspect to shortage of Metal...

Sprott willbe looking for approx 176000 ozs 5.47 tons of GOLD for his last placing of his Physical gold fund, that will boost the cause...He will soon have his PM backed bank...

Gold today went from low $1710 to $1750 high as expected, as the tree shake, left the bear bare, wearing naked shorts...LOL...Looking to close at $1745 approx...

The bidding overwhelmed the blagging, bluff called, another 10 ton goes East...

When will the mhuppetts learn, they try to short the market with paper & the East takes the Gold straight out of the refinery...All the while they Feed the bull, its getting stronger...

Cheap gold rises a knotch, if $1710 is the new base, Centamin is looking at, $11/1200 margin oz range for gold sales, short term....Then rising, to what?

The prospects of closing the expansion programme here, with production at 500,000 ozs pa starting 2013 Q1 for many years,is to say the least mouthwatering...

Remember Gold stays the same its money thats failing...Silver now looking tough as old boots, could be looking at a ratio to gold nearer 10 to 1 a disconnect appears to have taken place, the last few days...Its a great life if you dont weaken...

The glint of Early Spring golden rays, will soon be with us, Priceless....Regards Phil...





By phil and leggett ]]> http://www.iii.co.uk/investment/detail?code=cotn:CEY.L&display=discussion&id=9260983&action=detail Tue, 07 Feb 2012 22:12:00 GMT phil and leggett tag:iii.co.uk,2003:tst.9260842
http://www.marketwatch.com/Story/story/print?guid=479BB36E-51A8-11E1-A6A2-002128040CF6

Lets hope the market wont be let down by false hope for a Greek deal! Even if they agree to the current terms, sorry to say, I still think they are only putting off the inevitable! ATB - AR

PS - soti, how are you, well I hope - and your talented ice skating duo too? I trust you are doing OK in these 'funny' markets? By Andy Reilly ]]> http://www.iii.co.uk/investment/detail?code=cotn:CEY.L&display=discussion&id=9260842&action=detail Tue, 07 Feb 2012 21:35:00 GMT Andy Reilly