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Leading commentator Josh Mahony from IG - are we seeing a US$ revaluation?

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Member Since: Thu, 13th May 2010

Number of Share Chat Posts (all time): 10,489
Number of Share Chat Posts (last 30 days): 31

Last Posted: Fri 18:14

Post Distribution over the last 30 days

Fri 18:14

Treadstone don't mind the range trading, it's all feeding into extra $ for SLP and will strengthen the case for a rerate here in the coming months. Palladium isn't settled nor Rhodium and the upwards momentum recently has pushed platinum to this $980 level we are seeing - the situation is looking much rosier than just a couple months ago when platinum was testing below $900 so we should take heart. Now Rhodium rose to $1060 two days ago and palladium was testing $930 today, adding a couple million to our annual cash flow generation in the space of a month or so. Despite the auto industry fundamentals for platinum being weak I have always said that institutional and high net worth investors will take up the slack and buy platinum as an investment rather than for industry use especially as it continues to lag behind the rising PGM sector. We have witnessed this in the recent past and will no doubt hear more about this in future. $1000/oz palladium is coming and I wouldn't like to wager platinum will be much lower than current prices when it does happen :) have a great weekend
Fri 11:39

Yes in fact you're right and it's risen beyond that now which makes it all the more impressive! Looking at the the 30 year chart it peaked around 4th February 2001 at $1084/oz
Thu 13:03

Haha yes TA, it was self imposed excile for all the good it did me but I'm feeling more confident with the margins now and the way the ZAR is despite a weaker USD. Palladium and Rhodium combined make up a nice chunk of our basket and they are doing very well, palladium at 5 year highs now. The only thing I was concerned about was a rights issue and the circumstances now appear much brighter than they did before the summer began. All the best mate
Thu 00:01

Yeah palladium making 5 year highs! :)
Wed 17:57

Treadstone - you're right it's proving a lot tougher to break down key resistance around this level than for example any resistance palladium has yet to come across. The basket price is still creeping higher though and that gives me comfort because at some point palladiums strength will have a noticeable effect on platinum. Rhodium and palladium are back to their two year highs more or less now and this should continue regardless of no foreseeable increases in platinum demand near term. Feels like we are banging the drum to the same tune over and over but the fundamentals have continued to improve and despite cash being used for growth by acquisition rather than earnings based (share buy-backs and dividend) we also have Project Echo ongoing which will ensure low cost production for a decade or more. The fact we are running at better than expected output is a bonus and combined with increasing PGM prices we will benefit from improving profits and cash-flow. Quarterly results will read even better towards the end of this year once Phoenix is included. All the best
Wed 16:24

I'm back in today, plenty to be positive about. Always enjoyed reading views on this board and glad to see PGM's continuing to strengthen. GLA
Tue 12:05

London, United Kingdom - 27 July 2017

Landore Resources Limited (AIM:LND) ("Landore Resources" or "the Company") is pleased to provide this progress report on extension and infill drilling of the BAM East Gold Deposit on its Junior Lake Property, Ontario, Canada ("BAM East Gold Project").


· The Spring/Summer drilling campaign has concluded with 65 HQ and NQ diamond drill-holes (0417-561 to 0417-625) having been drilled, for a total of 11,060 metres (m). The drilling successfully infilled the Inferred portion of the Deposit and extended it to the east and west for a total length of 1,000 metres. The Deposit remains open along strike to the east and west and down dip.

· Field exploration commences 3 August 2017 on Junior Lake concentrating on the Archaean greenstone belt which traverses the property from east to west for 19 kilometres and hosts the BAM East Gold Deposit. Three Geological teams supported by a Geophysics contractor will be engaged on this programme.

An extensive field exploration programme has commenced on 3 August 2017 at Junior Lake aimed at identifying potential drill targets for the planned Autumn drilling campaign. This follows review of the geology and mineralisation on several of the Company's earlier gold findings including the re-interpretation of the Lamaune Gold Deposit. The reviews concluded that several of these gold prospects, including the Lamaune Gold Deposit, were similar in geology and mineralisation to the BAM East Gold Deposit. The review "encouraged the Company's belief that the favorable geological lithology containing the BAM East Gold Deposit has the potential to continue along the full east west extent of the greenstone belt traversing the Landore-Lamaune properties"

The Spring/Summer drilling campaign is now complete with 65 HQ and NQ diamond drill-holes (0417-561 to 0417-625), for a total of 11060 metres (m), drilled for this campaign. The processing of the core, including logging, sampling and assaying, is ongoing and results will be reported when received and collated. Note results have been received for 34 Resource and 3 exploration drill holes with results pending for the remaining drill results.

In addition all data is being collated for the preparation of a resource update scheduled for completion in Q4 2017.

I will probably await all results released before making a preliminary estimate of the resource, the latest results include some good intercepts and suggest there is more to come as the company have continued to state the deposit remains open along strike to the east and west and down dip.
Tue 11:45

Hi flundra - today I cast my vote and elected to VOTE AGAINST. Like yourself I'm not holding out much hope that opposition will succeed given the lack of a banner to rally around, namely MC who do not initially endorse this approach.

We have confirmation now Ewan Wade Royston Lloyd-Baker will become a non-exec Director in the enlarged company and receive his bonus, whilst loyal shareholders continue to nurse losses built upon his poor forecasts and impaired vision concerning the financial predicament we now find ourselves in.

In 6 days there will be a court session and the likely result will see us posting on the AVG board thereafter.

The latest document suggests up to 30,706,123 ordinary shares of 5p at an issue price of approximately 245p will be admitted placing an estimated market value over the combined entity of £75m although with AVG trading lower it looks to be less currently.

HAYT being debt free, at least after balancing current assets and liabilities enables the company to pursue growth through investing more now cash-flow is not such an issue which is positive but it's a steep price we have paid in order to access this financing. Quite what else AVG bring to the party for the premium being paid I do not know. We can be hopeful at least that with better governance and improved cash-flow HAYT can grow at a quicker pace
12 Aug '17

To illustrate the growth we have seen this year in our average basket price, the lowest split it's been on any one day was January 3rd when the average that day was just a fraction more than $850/oz.

On Friday our basket split was the highest it's been all year at a fraction more than $971/oz.

I've yet to work out what that means for our EBITDA but it should boost cash-flow considerably before even accounting for the acquisition of producing facilities and deposits which should boost annual output by around 15%.
12 Aug '17

Treadstone - My gut tells me we are likely to peak near this level next week, I've said previously I expect palladium to reach parity with platinum around $950/oz but that was before the US poured petrol on the fire!

Platinum has fallen a long way behind gold now and if gold does hold or move higher I would expect a big correction with platinum (it being a much smaller market). We know producers in South Africa are struggling to stay afloat, investment for longer term production has collapsed and demand for platinum jewellery has been low recently. So a sudden uptick in physical investment demand as a knock on from this PM surge, increasing the annual shortfall would I think lead to a strong correction, especially given how much further ahead gold has risen. I've been purchasing physical silver more recently as it's the cheaper option to gold ounce coins but still likely to rise in value over time.

But I don't believe missiles will be fired towards Guam next week, there is too much at stake and in that event we will see the price of metals retrace I believe unless there is continued hedging on the international markets.

IF the North Koreans launch anything even into the sea, gold will jump probably 5-10% overnight and more when Trump retaliates which he is almost certain to do. Either way, tensions won't dissipate anytime soon so SLP should benefit from the highest quarterly PGM basket price in 2017 and possibly 2016? (I need to check)

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