We may well have now seen the low in SLR & a few others. Gold looks likely to punch through $1360 resistance tonight. Gold is trading like a freight train & one thing about freight trains, you don't get in front of them!
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We may well have now seen the low in SLR & a few others. Gold looks likely to punch through $1360 resistance tonight. Gold is trading like a freight train & one thing about freight trains, you don't get in front of them!
I must admit I would have thought we would have seen a bigger rise in SLR today considering what gold did overnight. Its hard to believe its still trading slightly below 50c. Gold should really have a crack at $1420 from here & if it does you have to think SLR has to break the shackles & march a lot higher.
Yes, although SLR and ALK today both had a higher low and a higher high than yesterday, which bodes well for tomorrow.
Other juniors to have done well today include RSG, PRU, PGI and AQG.
Yet another depressing day to hold SOC ....that will serve me right to go against my gut feeling on Gold producers Vs Explorers at the time I exited PGI to SOC .....>>>>hoping It will reward holding after SOC next results
SOC touched 10c this morning then shot up smartly to 12c. Now trading at 11.5c. I expected a large crossing at 10c which would explain why it's been taken so low these past few weeks...but no sign of it yet. Surely, this stock price can't drift lower. My last parcel I bought at 11c, and although it's tempting to buy more, I'm reluctant to increase its % of my portfolio (for risk mgmt purposes).
A timely announcement would bolster this morning's change in momentum. Are we due for one?
RSG has hit my target price and so I'm buying back into it today. No hedging means that in doing so I'm expecting the PoG to rise sometime this week. Sailing against the wind is a bit riskier but more exhilarating than cruising downwind -- I'm picking a rise to 1350USD by the end of next week.
The pattern with Gold appears to be: bullish until each FOMC meeting, then bearish for a week after before turning again.
BC
I don't like this IPO of MT Adrah by SOC one bit. Management are coming across to me as corporate cowboys & I am quickly losing faith. No communication on drill results for far too long & now this. How can you sell something & not get paid!
SLR finally getting off the floor today trading to 46.5c in early trade. If gold does what I expect in the next few weeks I wouldn't be surprised to see SLR nudging 70c. Finally some good news on SOC as well, I think the restructure makes sense & will hopefully mean SOC will start to trade at its real under lying value. Also any positive drill results from the JV should now impact the SOC SP directly rather than via PMR.
Well think was a better move than the IPO idea which is a joke IMHO if they needed 2mill just come to the market or the insto buyers happy to pay 18c per share but now need to set-up a new high cost ASX listed company ...overall extremely disappointed and I've have my fair share of disappointments in the market last couple years ...really over it and at this stage further investment will be heading towards Property ...
I invested into SOC as I understood we had a great discovery at "Mt Adrah" with a suit of other great investments with drill results due any day (which was months ago still waiting) guess I let greed of a quick profit rule my head ...rather than look deeper ....now I think the market has come awake to the muti interlinked companies HRS, RAF, SOC, PMR, HGL, TCM, ABZ and now the new MTL all comes across to look after the major interests at the expense of the smaller holders ..and if we did somehow find a great discovery those same interlinked companies of basically much of the same guys will reward themselves first or like HRS just de-value de-list then re-model IPO and best of all pay 100's k in wages
for doing very little for the general retail holders ....
Don't get too bitter on this one, JB. Like the rest of us, you do get to vote against the IPO at the AGM.
http://www.asx.com.au/asxpdf/2014041...m2klsj7ytc.pdf
I have a hunch the sp will climb from here, off a support base in the mid 7's.
Discl: still holding (I share your pain).