Centamin reports doubling of mineral resource in Côte d’Ivoire

• Côte d’Ivoire drilling programme resulted in a resource increase.
• Mineral-resource estimate at its Doropo project has grown by 58%
• Current share price 124p (at time of writing).
• Shares -5.45% from 2019 highs; +10.9% from 2019 lows; +14.3% year-to-date
• Will this production update help the shares?
• Source: Dow Jones, Bloomberg, FT, Company News, AlphaTerminal

Click to enlarge

Trading Centamin – An Example

Let’s say you think that Centamin is likely to rise as a result of this news. You decide to buy exposure to £10,000 worth of CaiCentamin rn using a CFD, at the current price of 124p. To do this, you need £2,000.

For the purpose of this example, let’s assume the Centamin share price rises by 10% following the news. Your profit would be £1,000, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 5% from the current price. Centamin shares fall back 5% and hits your stop-loss. Your loss would be £500

This is provided for information purposes only. It should not be taken as a recommendation.