OK, so after musing over the weekend I’ve swapped my Centamin Holdings for more 888.
Centamin just trundles on. I don’t think it’s ever going to make vast profits – a lot of it is given away as parts of its Joint Ventures with (say) the Egyptian Government. Reviewing figures it seems to be moderate feast and moderate famine, a lot depending on the Gold price.
Nothing fundamentally wrong with the Business but I’m happy to trade the cycles, so if it drops to double digits I’ll revisit it. I’m happy to sell at a 10% profit over 2 months.
Sell price: £1.0981
Buy price: 99.25p
Dividend income: 0
Gain: 10% total (0% + 10%) 60% pa (linear, not compounded)
As promised, I’ve topped up my 888 Holdings at 82.3p to a shade under 8% of the whole portfolio. That will do for now.