Yep I take it all back. That & the drill results all is being delivered as per JB's relayed conversation.
Printable View
Yep I take it all back. That & the drill results all is being delivered as per JB's relayed conversation.
Jezz whats up with SOC depth your'd think the drill results were poor ....just no serious buyers under me ARRRRRGGHHHH
I just don't think SOC is on anyone's radar, so need to be patient. I don't expect anything much until after the IPO. I will look to accumulate more soon as yesterday's results has convinced me they are onto something here. Just my view.
Yes we need those MoUs converted to JV...from SUGEC going from those grades I'm sure they'll take the MOU up .....when I talked with the CEO he did state in having a major meeting with SUGEC soon... no doubt on forward plan on MOU...we badly need some good news on funding if we are ever going see some market support
disc-did buy more at 5.6c av now 13.6c hoping to least get my money back on the right ann.
I see RMX released some pretty impressive results after disappointing in the last two releases. Up 25-30% today. I think I'll wait for this one to settle down again & then pick some up. Did you pick some up BC? I was tempted when traded 1.1/1.2c.
Yes, I've got a small holding, which I've been watching drift south for the past month. I got a tip on this thread to buy them when they were 2.1c, which I should've been more cautious about. A lesson learned - DYOR.
I do like their Philippines' potential and grades, and so if this rise has the legs, I might just get my money back after-all. Yesterday was the time to buy more but I had already averaged down last month after it dropped to 1.7c and didn't want to throw more at this stock without a good reason. Good to see it recovering.
Im still very deep in the red with RMX buy in of 3.2c But for the first time in along time im getting the feeling there could be a viable sustainable business evolving here. and that we will see the SP go over my buy in.
they are increasing there reporting on drilling and the quality of finds. Also after the permit to mine is granted regulatory problems are greatly mitigated. scoping study was fairly positive.
Also RMXO are due end of june so you can be sure directors will do anything possible to prop up the price.
Generally feel were headed for greener pastures here.
SOC down another 10% WTF ....someone setting this up for a take-over...or just plain piss-off holders selling to reap the tax loss....said it before wish I never heard of SOC ....
SO far, it's but a paper loss JB. Don't get so p*ssed that you sell. There's something afoot here. Apparently, Bergen have notes that they are converting which they purchased at 5.7c, and so if they started at say around 15c, they are still in the money selling under 5c. My guess is we'll see a final dump this week and then a climb. It's good news that Leu bought half a million at 6.3c, which given that's more than what I've got, he has more to lose.
I'm guessing either an imminent takeover (which is probably unlikely given we have yet to get enough drilling results) or simply Bergen (and perhaps one or two others) with a stack of shares they want to get rid of prior to the IPO.
Discl: Still holding...and like yourself wishing I had kicked in a stop loss north of 10cps.
Yes, I think we'll need to see significant volume traded before the price pivots north. Bergen will be dumping sometime soon IMO, after which buyers will arrive to bring the sp back up again.
There is clearly value in this stock - SEDEX deposit, controlling interest in a farmed down Mt Adrah, etc. Hang in there mate. You and Daytr put me onto this stock - I wouldn't like to see you bail now.
Edit: Trading volume is already 345k today. That's the highest for a while. If it tops $450k that will be the highest intraday volume since it was trading at 14c back in February...and IMO a pivot ahead of a momentum shift to the upside. 4c looks to be the bottom. Hats off to the trader who has bought them at that price.
IMO Moosie, buying SOC at this price has a very low Risk/Reward. Easy money by month-end.
Thats what I thought at 5.6c arrgghh,,, I do agree having major ownership in three company making projects SOC is way oversold..
....Looks like Bergen has much to do with keep the SP under pressure ,,,,which in turn will give them cheaper shares for the funds they provide ...still once they get their fill of cheap converted shares/opts they'll likely want to see there investment much higher ..they invested 1mill into ISN.asx few years ago ended up going up like 600% within 20months ..
..We really need the 2mill SUGEC funded drilling at Uralla NSW to discover another gold resource est target ...500k-2moz a result here would be completely out of left field with Mt adrah / Hall peaks have been the market focus...
-SUGEC taking up their MOU could well add 17mill in extra exploration spent (this will be the driver well past 10c)
- A successive Mt Adrah IPO will add the needed funds to drive the project towards 1moz+ au resource (got to add a positive vibe)
Moosie no secret.... just need a big set between the legs LOL
Yep no point bailing now and I am still confident it will come good. They have only had one average drill result, all the others including the most recent were very impressive. I'm hoping to pick up more if the SP hangs about, but need to free up some funds to do so. We may very well have seen a bottom today as there was some reasonably aggressive buying.
SOC finally found a bottom ??(I I hope so) up at 4.7c going from depth first time I've seen more volume in the bids than the offers for some time ....also nearly all offers are just one S/H of small amounts ...you get the feeling on the right ann we would make back much of the ground lost since 12c.....
It seems as if my switch to a focus on gold stocks has not treated me nicely, Am currently in SOC, KCN, AAX and NTL. Each time i thought the stocks had hit rock bottom, yet have managed to drop dramatically over the last 3 months. Am hoping for the market to sort itself out soon.
Gold has been incredibly quiet for the last few weeks. We are about to head into a period of increased physical demand (seasonal) & we may see more out of India on import duties yet, so I suspect we should see gold start moving north again in the next month or so. In the mean time its a good time to get in some fishing! ;-)
MTL IPO DEAD!!
Well that was always going happen after SOC SP dived from 12c to 3.9c after the IPO idea >>>IMHO whoever thought it was a good idea to waste S/H funds on trying to IPO a small part of one of our core assets needs to exit the company .....Julian ??? >>>lets hope they will get back to Explorer basics 101 >>>and get some results out to the market ....and develop SUGEC J/V ...get the SP back to a decent level 10c+ before coming to the market for funds
Don't they still have $800k of that convertible to call on? I can't see them going broke, but you never know I suppose.
What a complete cock up by management, a company that was travelling so well only 6 months ago & just through poor management decisions the SP was destroyed. Teaming up with the likes of Bergen a known predator was also a big mistake. Where was their background checks before entering into a deal with Bergen. It wouldn't have taken much to find out what their track record was. Now perhaps purely by luck than good management you may actually see the company start concentrating on what they are supposed to. They owed 80% of PMR, why on earth they didn't take out the other 20% when they had a healthy SP & raise capital then, oh yeah you would need to have forethought & be looking after shareholders to do something like that...
I understood they have a total of 4mill with 1mill used so far Bergen as converted 200k of the 1mill into shares so still have 800k they can convert...basically we won't see much blue sky unless we have some very good results to add HUGE Buying pressure to soak up Bergen and others selling ....more likely we will continue sideways for a LONNNNNNGGGGGGGGGGG time :(
and the more funds borrow the worst it will be ....Ideally we need a Major parter or existing major interests RAF - HRS 40%+ stake to front with a pile of cash so we can get cracking on the drill front prove up a mega Gold deposit without the plan to sell their stake straight away like Bergen has been doing in turn gifting themselves a bigger slice of the SOC stake as SP heads lower...we could well see SOC use all of the 4mill funds leading to Bergen gaining 50%+ position then doesn't matter even if SOC has great results as we will be well controlled till the likes of Bergen de-invests for a major profits 5-6c TO etc ....this of course is worst case for us suffering S/H's
I've emailed the SOC company secretary to get confirmation that they have funding to continue operations (and from where)....given their statement in their last quarterly report that they needed more to survive this quarter than their end of March cash position would allow.
Still awaiting a reply.
And the answer is plan-B ..SPP @ 4c or lower 10 day average ......15k max S/H only as of yesterday ......these guys just can't work it out man .....Wish I never heard of this joke of a Explorer
I see there has been a low ball take over offer for ROL at 28c. I would imagine they will have to offer a premium to the current offer to succeed.
Yes, just what is the prize, Datyr? Rather than a bunch of SOC, how about some RMX bought off a tip that went very south...
..just taking the mickey, mate. I'm actually more bullish on SOC and PGI now than I've ever been...and RMX may yet have some life in it (in spite of some dubious mgmt practices).
Airdale's doing well with GOR - up 200% ! Well done, mate.
Happy to buy them at 3cps.
I have quite enough already bought at an embarrassingly higher price of &#* per share (darn it, bloody keyboard's malfunctioning again).
Feel for you JB re SOC, I did warn you about doubling up on these guys. Tend to agree with BC, as now that some of the shenanigans are out of the way they may actually get out & do some drilling . However not sure I could trust management after the last months. GOR has been ripper!
The prize by the way gents is the glory, pure glory! And maybe a chocolate fish if ur lucky !
Yes was a stupid move ..should have listened to myself and kept well clear of the PM explorers right from the start 23c+ (which I did for some time last PM explorer PXG/MSR late 2012)but was some very good upside posted on the forums did look a good ST trade on continued exploration ....add in the fact I was away from the internet for many weeks round the time it started to head south(stoploss would have been a smart move)....
Retail Market has just completely lost any trust in SOC ......hoping to see that change ..even if I could get half of my funds invested I'd be happy to take it on the nose ....and move on to better plays
Still five months to go....LOL
Got my fill of RMS 6.7c today... closed 6.8c ....looking for a nice swing trade on good Qtr report mid 7's be min target
Go with the flow JB:).Sold CAS for a 25% gain but kept the investment shares for much longer.
Sold the last of my SOC position last week glad to see the last of that DOG ....no more PM explorers for this trader
So it was you taking the price down, mate. It should lift now :-)
I'm waiting for the seasonal lift in the price of gold to drag this pup up a few cents per share, before selling out slowly...
SBM released its report today - a nice surprise in its ASIC. I've just bought a few at 11cps.
Yep was the last of my lot ..completely lost faith in the short to mid term for SOC ...put the money into AKK up 25% CFE up 30% only days holding also took a small position in TPT now in trading halt ....I see SOC had only 180k end of last Qtr ....they just raised another mill ..thanks to major holder S/H's mostly rejected SPP like only 20% take up ....big loss but rather that than 12months of going nowhere IMHO...won't be buying another PM explorer (never wanted to in the first place) think we will see SOC having funding issues once again early next year ....wouldn't be surprised to see it trade in the 2's for the rest of the year
Oceania is taking a bath today, down 7%. Both Troy & Regis have done the same of late. Valuations on some of these goldies were a bit rich for mine considering the pog hasn't done anything. If equities correct sharply like I suspect they will, gold stocks won't be unscathed IMO, however should be quick to bounce. I think a real opportunity could present itself under that scenario.
Well its last quarter was pretty good, however next quarter won't be, due to various factors including a maintenance shut down. The market cap is over a Bln. So was getting a bit rich for mine.
OGC is still on track to meet their forward guidance. Some punters missed an earlier report in April regarding lower grade gold and planned maintenance shutdown. I'm waiting for a few more to be sold off before coming in again on this darling of a stock. Targeting $3 NZD.
"Looking ahead at Didipio, the operation will be mining and processing lower gold grades and mining less ore
as a result of increased pre-stripping from Stage 4 of the pit. In the second quarter, there is a shutdown of the
process plant for planned maintenance.
The Company expects to mine more ore and at higher gold grades at the end of the second quarter through to the end of the year. Throughput rates are also expected to steadily increase during the year through debottlenecking to achieve the planned 3.5 Mtpa rate by the end of the year.
Looking ahead at Reefton, the Company expects to mine and process higher grades beginning in early third quarter. Additionally, the final cutback at Reefton will be completed early in the third quarter.
Overall, the Company expects to achieve its production guidance for 2014."
Spot on BC & at a Bln. plus market cap, I think that is all pretty well priced in IMO.
Well it'll put it out there, again! Its Thursday night & I expect to see a rally. Fed & GDP is now out of the way & I also think we will see US equities under pressure.
ROL trading 45c! After an increased takeover offer of 49c! Now they are talking!
One junior I do like the look of at this point is ALK, starting to look pretty cheap IMO.
Tears of gold
GOLD’S seemingly new BFF, Deutsche Bank, has put out another note that will have the gold bugs shedding tears of gratitude.
It is arguing that short-term traders seem to be stepping aside as they wrestle with multiple and complex geopolitical influences; rather, the higher prices are the work of investors taking a long-term view. Deutsche is also sceptical about the figures for Chinese imports via Hong Kong (which have eased), pointing out that gold may be moving through Shanghai and Beijing.
Meanwhile, the World Gold Council’s latest bulletin puts the recent decline in demand in perspective: the 25 per cent drop in gold prices in the June 2013 quarter sparked the big run on the metal and what we are seeing now is not a retreat, but a return to calmer waters.
Moreover, the council argues, mine supply has now peaked, will plateau for another year or so, and then head downwards. Deutsche says it’s not just the physical metal. “Perennially unloved gold stocks have remained very well bid this year. This demand is much harder to dissimulate,” the analysts write.
By coincidence, Peter Strachan at Perth’s StockAnalysis has done an analysis of local gold stocks. He thinks some of the higher-cost producers could offer the best leverage if the gold price heads north, and cites Perseus Mining (PRU) — which Strachan adds has never lived up to its early cost predictions for the West African mines — as well as Norton Gold Fields (NGF), Kingsgate Consolidated (KCN)and Resolute Mining (RSG).
At the other end of the production-scale financials, lower costs achieved by the likes of Kingsrose Mining (KRM), Medusa Mining (MML), OceanaGold Corp (OGC),Troy Resources (TRY) and Doray Minerals (DRM) may offer comfort to the investor, but the low-cost factor needs to be offset against reserve life, political risk and other development costs.
West African explorers like Gryphon Minerals (GRY) face an increasingly difficult task, says Strachan. New taxes, corruption, civil wars and now Ebola render new developments difficult to finance and staff.
Azumah Resources (AZM) looks cheap considering its resource size, but Strachan thinks it will struggle to raise capital for its Ghana project where “fiscal terms are punitive and the general level of corruption leaves most producers struggling”
http://www.theaustralian.com.au/bus....-1227027307792
Not too much to argue with their JB. Another way of putting it though is the high cost producers need a higher gold price, short & simple as their share price reflects their current risk vs the POG. I.e if the POG went down & not up then they would be the first to fall, so its all about risk reward. Miners are a fairly risky investment at the best of times. Not sure about DB being gold's new BFF either. Maybe just trying to look good whilst they are being investigated for metal market manipulation by the German regulator! haha
Yes as to why RMS trades at 25% of it's NTA .....like many ASX producers the market is still very cold to the sector
With no true direction in the Gold price it's really a wait and see ...If we do get the seasonal rise in Gold I really think we could
see this magnified in the producers like RMS as the market get greedy on how undervalued many trade at these days
http://www.newsmax.com/Finance/georg.../16/id/589153/
"Soros nearly doubled his ownership in a U.S. gold-mining companies ETF and initiated new stakes in other gold producers, suggesting the big names in hedge funds continued to have confidence in the yellow metal, Reuters reports.
Soros Fund Management increased its stake in Market Vectors Gold Miners ETF to 2.05 million shares valued at $54 million at the end of the second quarter, compared with 1.16 million shares in the first quarter.
"Gold-mining stocks are considered relatively cheap. It also suggests that Soros may be thinking gold prices are near the bottom of the range," Bill O'Neill, partner at commodities investment firm LOGIC Advisors in New Jersey, told Reuters.
Soros also initiated new gold investments including 1.33 million shares in call options of the Gold Miners ETF valued at $35 million, and 1 million equity shares in Allied Nevada Gold Corp.
"Gold has become increasingly attractive to hedge-fund managers who are long-term investors as real interest rates remain negative," said Axel Merk, a Moneynews Insiderand chief investment officer of the $400 million Merk Funds, a family of currency mutual funds and the Merk Gold Trust, a gold ETF.
Investors pay close attention to the quarterly filings because they provide the best insight into whether the so-called smart money has changed its sentiment toward gold as a hedge against inflation and economic uncertainty.
In September 1992, Soros made at least $2 billion on his shorting of the English pound forced the Bank of England to devalue the currency and leave the European Exchange Rate Mechanism (ERM).
Yep I like these guys JB. I'm not sure why the market hasn't taken much notice of them. Perhaps when they get some production running n a few months. I know the CFO Tim Manners reasonably well & he is a good guy.
Oh Skol, if anyone took you seriously they may get offended by your posts. Luckily that's not the case.
When I'm investing, I actually find it quite handy to know the management, 1) at least you have a view on their integrity. 2) you then have a direct line into the company if you want to speak to them, again quite handy.
Skol, you would obviously prefer to just invest blindly. By all means go ahead.
Having visited Perth on business about 50 times, visiting mining companies, you tend to get to know a fair few MDs & CFOs. I certainly don't know all of them but probably the majority, but sorry if that' name dropping or showing off, its just a fact that can be useful. Hell if I wanted to name drop I think a few Hollywood stars or Sports stars would be more the ticket. Just the other day while having a coffee with Angelina .... LOL
Well the fact that the figures were completely incorrect & the correct results should have been twice what was stated & not even actually supplied by ABC Bullion, despite what was originally posted as the source. As such I find no need to contact Janie Simpson of ABC Bullion as the whole post was a figment of the poster's imagination.
Once again I apologize for using my knowledge & experience for correcting posts that are wrong on every level, including data used, results of the data & quoted source of the data, all of which were incorrect & by some margin, circa 100% in some cases.
But by all means keep your head buried in the sand.
Next !
Goldies taking a hiding today. Pretty much where I thought there was overvaluation are the ones being hit hardest. OGC & NST down 8%, NCM down 4%, whereas TRY has hardly moved. RSG is under 50c! Glad to be on the sidelines & I can smell opportunity once again, however time to be patient as there is likely to be more pain yet, particularly for those stocks that have run hardest of late, like OGC & NST imo. Still look pricey again imo.
Hmmm..... MSR in a trading Halt
My guess is capital raising they are running pretty low on cash.
It will be interesting how they finance the Kyrgyz project.
Are they likely to get any government or perhaps IMF style funding?
Do you know what the capex is likely to be?
Yep Cap raising should go down like a cup of cold sick.........esp if it's not underwritten
ELM announced a 9.5mill raising fully underwritten with free opts and the market smashed them 20%+
Ha ha, very descriptive JB! I cringed thinking about it ! haha
PXG had a nice set of drill results released today JB. Market has hardly blinked though. Think these guys are very good value here.
Been buying a few goldies today, namely TRY & MLX.
TRY has been absolutely pounded, halved in value this quarter.
The current quarter of mining should be a good results as they removed a lot of waste ore last quarter & we should see the benefit of that in the current.
Also just got finance for their new mine in Guyana.
POG dependent obviously, but I could see these guys easily getting back to 80c or higher if we see a sentiment shift in gold miners.
Metalsx is an old favorite of mine. I've known Cooky & crew for years & they are one of the better operators in the business especially when it comes to gold. He's been bogged down with tin assets for a number of years, but has recently re-entered gold production with 150k prod p.a.
Aussie gold is up A$160 in the last month!
They also acquired a new project & just announced a 2M ounce reserve & 8M ounce resource!
All at reasonable grade.
They have been hammered a bit due to a share consolidation & going ex divi today.
I saw that as an opportunity to buy in.
Yes some shocking prices in the ASX Gold producer sector which is quite out of step with the high AUD Gold price $1472 and the much lower Energy costs ...looking forward to the Qtr reports..
My ASX PM Sector holdings RMS @5.2c , PXG @9.2c, CVR @17c
Hey Snapiti, glad u have found it useful. Take a look at MLX as well, they had a few difficult years sorting out their tin assets but the CEO Peter Cook is really a gold guy & has built several very good gold companies over the years & is now expanding its gold portfolio.
Its certainly not an area of the market for the faint hearted.
Good luck!
NST and MLX two of the few that pay divs too i believe. Im hearing BDR is mining very hi grade at the mo(just what I've been reading around the traps from people i rate).
EVN pay a dividend as well. To be honest I think its a waste of capital. With huge volatility in these stocks a 1 to 2% divi is meaningless imo.
What do you mean by PE outlook for MLX? Who's outlook? The lower Aussie dollar will have quite a big positive impact on both the gold & tin operations.
Tin has also held up well compared to other base metals. MOX should he in the position to self fund the development of their Murchison gold assets as well, however I wouldn't be surprised to see them take on some debt.
Re BDR, yes that's my understanding as well, it should be a quarter for them. There is also a substantial short position in the stock which I like.
I think today's move may have been a little exaggerated by the gold indices rebalancing that has been going on.
In saying that they are also horribly oversold so a correction was overdue imo particularly as the Aussie has been smashed.
BDR yet to make a meaningful move, but I think its only a matter of time.
Norton Gold Fields Limited (ASX:NGF) announces that it has received written notice from the Foreign Investment Review Board that there are no objections to its acquisition of a relevant interest of 10.77% in Phoenix Gold Limited (ASX:PXG) (please see ASX announcements dated 9 December and 11 December 2014), thereby satisfying the condition precedent of the underlying agreement...
PXG should have a big 2015 year as long as AUD gold keeps strong .....yet another micro cap well undervalued ....crazy to think PXG was priced 200% higher back when it had half the Gold resource and nil NGF J.V contract ...the GOLD price was only a few dollars higher too,,,
Actually I thought quite a few of the goldies held well considering the big move in gold.
I picked up some Newcrest today on the dip.
Re PXG, JB so that's effectively the Chinese buying in right as the Chinese took out Norton a few years back.
Yes I could see it happening right back when Norton first signed up the deal over processing PXG ore on a 50/50 deal ..not hard to work out the Chinese owned Norton wanted to grow it's resource base after taking out the likes of KMC .. PXG 3.8moz and growing right next door and being valued at round $8 oz Norton be stupid not to be buying in at these levels ..
Finally RMS getting some attention ... Not long to next qtr report should make a good few million in
Profit
PXG -10c about time now give us the right ann and we can start to move
In .5c movements .... Mid teens before the fin year is over would be good..
Only Neg us I haven,t sold the house yet to load up more of these well oversold shares
Yep good day for goldies. I'm not sure dollar gold will hold up with the Euro under pressure. As such sold out of my BDRs today for a nice profit & have shorted NCM, however could be stopped out pretty quickly on that one if I'm wrong on gold.
MLX has had a great run, think I'll be taking some money off the table today though.
No way I'd be shorting gold at the moment ..I don't believe we our going see any more major downwards pressure in 2015 like we seen last few years if anything spikes higher during the year as the investors look for save havens for their market profits than will see pressure
$1220 and counting. Eurozone undergoing US style stimulus? Yup, expect an uptick!
RMS up 26% so far today ... Great pre qtr results .. Has along way to run if they can keep surpassing est production 24koz gold for the dec qtr
PXG getting some attention hitting 10.5c better than 50/50 NGF will go for a T/O this year after toll treating some of PXG ore ...
Picked up both RSG & BDR yesterday on the basis that gold will bounce. ;-)
Should be off like a rocket Monday.
Gold looks good now to take out $1300
I got a little bit of nst yesterday.
Was thinking TRY too but not enough fund. Lol
RMS from 4-5c to 15c last couple months ...13.5c currently sold my ords at these levels and put the funds into RMSO 5.7c got another buy @5.5c ....I see 17-22c(ords 29c-34c before Aug expire) ... will get another couple Qtrly results ...then with opts in the money will should see RMS cash/bullion over 50mill ann in the Sept Qtr ...this will be where many Investor's will finally wake up RMS has a good future and pay 40c+
PXG-moved to 14c pull back on Qtr results shown high AISC on their ramping up of their kintore project which is to be expected next couple of Qtr will give as a much better idea of cost one we are producing the higher deeper grades of ore..
NGF should be close to securing contracts to move toll treatment ahead ....major income for PXG with nil costs
You need to look at the conditions attached to a particular issue of options but in the case of RMSO I believe that they are exercisable at 12c at any time prior to 1 August 2015. Correct, JB?
Incidentally, I saw a headline in this morning's AFR, article behind the paywall, to the effect that Owen "stronger for longer" Hegarty, once CEO of Oxiana/OZL, is tipped to be on the lookout for mining company acquisitions for an American investor, with $450m to spend. Could buy a lot of gold juniors with that kind of money - or maybe a stake in a bigger fish - such as OZL?
Pure speculation on my part but would be interested if anyone is able to penetrate AFR's paywall for more detail.
:cool:
Not sure I would trust Owen Hegarty.
He's a force of nature & a great salesman. Very similar mold to Twiggy Forrest. Probably why they get on so well.
Watch the gold junior wantabe Manas Resources (MSR) at opening on Monday...Gold Explorer company management running out of money..and have indicated (announced after closing on Friday) putting up a potential gold mine for sale sign....
The present Share price very low (1.8c) due to Management goals uncertainties, lack of communication, and failure to hurry up and find finance to continue...
Always going to be tough in a place like Kyrgyzstan.
Need very good grade i.e. low costs to make it worth the risk & the project doesn't look like high grade.
They could be sitting on that one for a while I think.
Just brought back into PGI though the PGIDA ....10:1 con .....some major deals on the table if they can pull them off PGI should well be re-rated much higher overnight
Considering the sell off in gold, gold stocks have held up quite well and in most cases are bouncing.
Lets see what gold does tonight!
Yes Glad I sold my RMSO for 6.4c av last week now trading @ 5c .....did put the bulk of the funds into RMS 13.5c and now thinking selling 12.5c and sitting back ...if PGI announce US Gold toll treatment it sounds like they will they should go through the roof....good buying here
From the PGI Quarterly,
PGI “has reached agreement in principle to acquire a controlling interest in +1.0 million oz Au high grade refractory deposit in North America, with the potential to produce concentrate grading approximately 100g/t Au. A binding HOA with respect to the development is expected to be formalised by the end of February 2015.”
GPM in Albania is using clean, 40 g/t, Au concentrate in an Albion process and achieving a recovery rate of 93-96 % Au. (http://www.albionprocess.com/EN/downloads)
PGI should be able to achieve this rate with their 100g/t concentrate. That would mean PGI could produce 930000 oz Au over the life of the new project. At 1200 USD /oz. This is a revenue of 1116 million USD. (1.1 billion USD)
PXG just announced 6 mill raising 5 mill from major interests (NGF/Zijin ?) other 1mill for S/H's fully underwritten ....great investor support here for good reason ....
Not that Resolute (RSG) should be classed as a junior with 315k of production, but anyway I have been loading up in the last few days as its been sold off after announcing write-downs & obviously gold under pressure. With China out I suspected the market might have a crack at gold, but the Chinese start returning today/tomorrow, although quite a few will take the week off. Gold should see some pick up in demand so I expect we may have seen the lows in this move.
RSG has a market cap of just over $200M & I think is the cheapest producer on the ASX on a per ounce production basis.
What I liked in the recent report was that they have announced a substantial reduction in costs for 2015 whilst maintaining production guidance & have reduced capex outlay by deferring the Syama expansion.
Well Should get your RSG cheaper come monday Daytr ..... Happy to keep holding my three...
PXG--just raised 5mill + another 600k from S/H's 10mill+ in cash ...NGF toll treatment final agreement anyday now.. the best exploration
grounds in PXG W.A tenements results to come...should hold above 9c ...
PGI-perfect movement in gold price for PGI with 1200oz USD hedge for the next 2yrs gold goes to 1100oz US PGI could close out hedge for 8mill+ profit ... low cost of production ....working on securing more gold ore to toll treat ...
RMS ....Growing cash balance / some hedging
Will get some rsm when it goes below 11c
Yeah I'm pretty loaded already with RSG, but have capacity.
Hopefully take advantage of some lower priced all Aussie producers.
There's a recent article in The Bull reminding readers that the AUD price of gold is still around the $1550oz mark given the weakness of the AUD/USD.
Here's what they say about my old (poor-performing) favourite SLR:
Silver Lake Resources Limited (SLR) had two operating mines in Western Australia along with two major exploration projects. On 24 February the company announced it was placing its Murchison Goldfield Operation into care and maintenance, due to the declining gold price. Silver Lake most recently reported AISC of AUD$1,298, which hardly qualifies as a low cost producer. Costs could have contributed to the closing of Murchison. The Half Year Results recently reported focused on the remaining Mount Monger operation, which saw a 52% drop in revenue.
Although Silver Lake does have a 2 year growth estimate of 44.5%, a look at the actual EPS figures for each year paints a less rosy picture. For FY 2014 the company reported a loss of $0.258 which is expected to turn to a positive EPS of $0.019 by 2015 with a scant increase to $0.022 in 2016. The share price is down about 90% than since the beginning of the decline in the price of gold. Here is the chart.
While Silver Lake may be the highest risk investment of the four shares in our table, analysts have a somewhat mixed consensus Overweight rating on this stock. Three analysts recommend Buying the stock; 1 has an Overweight recommendation; 4 are at Hold; and 1 analyst recommends investors sell the stock.
http://www.thebull.com.au/premium/a/...d-miners-.html
Yeah real shame they were the darling of the market a few years back. I used to deal with them & go to their parties in Kalgoorlie.
Great times, but they were never the smartest tools in the shed imo.
Today I've picked up some EVN, who are smart by the way & have hedging that's in the money & are a 400k+ producer.
Reasonable costs that should be reducing with the lower price of fuel.
Main reason its off is NCM has been selling out of the 30% stake.
Also holding RSG which I think is very cheap along with Troy.
Stopped myself out of my BDR as I just didn't like it, well not compared to others. Call it a gut feeling.
Really think PGI will fly much like RMS did for me at the start of the year ...likely news to come next few weeks
-Refinance deal = Mac bank gone ? Close out hedge 80koz (If gold heads lower could = 8-9mill profit)
-Recent Gold plant upgrades to increase Gold/Silver yields >>>
-New Major investors looking to join the register
-Potential new feed/ import concentrate deals
With the POG is looking weak, might not be a good time to invest in goldies.