By Nigel Somerville | Wednesday 21 October 2020
Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
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.
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