Thanks cb, I have been undecided for a while now, I'm getting heavily exposed to gold and silver and after Christmas not a lot else. Just weary about having all my eggs in one basket. May just keep it in the bank and wait, although I don't like doing that either...
RE: Sp recovery
Mlud Right now and in general no. Special properties may be viable but if the economies of the world continue to falter and/or worse then few people in big numbers will have funds to buy properties so the market is likely to flatline or retreat some imho. Once the tsunami is passed and calmer waters resume then maybe it will be attractive again. At the moment there is very little that is attractive to the PI other than clever short term market trading if you are good at it or the move to gold/silver physical metal. Could be a few months or only days before things move but they surely will. All imho but do your own research always GL CB
D-Day : 18th December?
I'm a believer in management having more time than appears prima facie but if wrong and the first wire is on the last day of the year then surely it would likely be their plan for General Nice to pay up on the 18th to trigger other critical events over the following days. But then do GN want to see a financial plan first. If GN don't pay up on time again then maybe the banks will hand the baton to one of the third parties to see if they can raise the money. How long have Hambro's team had to do so? The answer is whenever they knew the covenants would become at risk and JPM figured that out about two years ago. Since posting here I've always talked in terms of management getting re-financing off the ground but not assuming the share price would shoot up. My guess now is that if General Nice don't pay up then its all over bar the shouting. 18p is about 1.3% of 1385p so the market seems to have made the same assumption whether right or wrong.
CB good post, very volatile times ahead not only for pog but for gp too. Keep stocking up on the dips and having nerves of steel the only way forward. Would you invest in property also as a hedge to inflation?
PH,s communication skills.
or lack of them; like all the other P.I,s on this and all other boards,I deplore the lack of information and updates from this Company. It shows me disrespect for all invested here,bordering on contempt!!! An Investor not only invests cash in companies of their choosing on Exchanges around the World,but also their trust,as once invested,performance, profitability, etc,is the responsibility of the BOD.
While we wait for sp recovery
All the other signs continue to move in favour of Gold/Silver miners. The US economic data continues to tip over yet their media continue trying to spin it to the positive. The GP/SP continue to hold at levels many were saying only 2-3 weeks ago would not hold and the price would continue to tank. More and more commentators are saying that the situation of shortages of these metals continue to grow whilst the CB's continue to try and push the price down with "fake" paper contracts and all the time more and more customers are demanding physical metal and they are struggling to find enough to satisfy the demand. The east continues to buy up more gold than can be produced apparently and yet this shortage of product is not causing a price rise going against all normal supply and demand rules( so the market is rigged!!!!). It is reported in some circles that in Shanghai some commercial bullion orders for $m's of gold are being purchased with up to a 30-35% price premium (that is $1400/oz territory). So if that is true it will not be long before that kind of price becomes the norm and the CB's have to capitulate in holding back the price. Deflation continues (look at oil) around the globe as a precursor to further turmoil in the markets and more and more commentators are saying gold and silver physical metal will be the only "safe" place to be soon. It will be stellar if POG refinancing (in a positive way) aligns with the major turn in the GP as the effect on the sp could be dramatic. Many on hear are continuing to speak of dread and capitulation but the best capitulation is that of the shorters who are continuing to walk away. This is the time to hold your ground and keep hold of your shares. It is more likely that further raids on the sp will be made before news comes and they will be designed to scare us out of holding the shares. Again I say this is the time to hold frim. As someone else said if you cannot bear it don't look for a few days and just wait for the refinancing news that is to come as and when. The MM's want your shares now as they can see an opportunity to sell them to someone further down the track for a good premium. There are many signs out there now that the time for gold and silver is coming again and the miners will be able to sell every oz for considerably more than they do at the moment. At the same time the stock markets and world economies may go into tailspin in varying degrees in the coming months and the waters may be turbulent for many. Gold and silver will be the place to be. GLTA CB
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