It might prove to be a one-off. But one group in the gold industry this week forged ahead with a unique strategy — which might just change the market.
The group is India’s largest jewellery-maker, Rajesh Exports. Which said that it is taking an unusual step in securing gold supply for its operations.
Buying gold mines.
The firm’s owner, Rajesh Mehta, told reporters in Australia this week that he is visiting the country to vet potential mining acquisitions. Adding that his company has hired investment bankers to identify assets that could “ensure a reliable and permanent gold supply-line to our company
Looks like youll have to copy & paste a couple , have a great weekend/easter everyone ATB F
I've Just been watching a TV Programme called "Gold Rush" (in the Yukon) on the Discovery channel. It basically shows how easy it is to recover GOLD using a wash plant. I thought some of you may be interested in it. GLA .
......just to add, if the gold price rises by $100 to the $1300 mark, then that would equate to an extra $1m if the `up to` 10,000oz/year from SLM materialises, on top of what its worth already in income and of course another $1.5m on top of that if the gold price hits $1450!!
Got a good feel for this timing convergence between the gold price(?) and the inevitable RNS`s due at anytime in the next few weeks/months by ECR.
I`ve been wrong before with stocks but this one has a few ducks getting ready to line up which look `very` very interesting, and could be slick timing which would accentuate any positive sentiment in the wake of some good RNS`s. Obvious caveat being the g price and any negativity in our announcements.
We have the funding set up which is what it is, but some people don`t seem to like it, I think its a good move, which means they don`t have an elephant in the room situation like Solgold for example, where the funding `issue` is a real headache for investors at the moment. At least we can progress the operations with full strategic commitment without unwanted distractions.
This guy loves his gold `rally` predictions and has several articles here to explain his thinking. He tends to be an advocate of Elliot waves which have never been my thing, they seem to be subject to the observers interpretation, which can vary imo but he probably wouldn`t agree and has a very in depth knowledge of the theory.
I quite like fibonacci retracements as a long term indicator, they set levels that are definate and so can`t be confused, give or take a few pence!
If you look at the long term chart, between the end of Oct 08` and Sept 11` the price of gold went from $680-$1923.
Since then it has kept in a downward trend, though it did try to break through $1800 on three different occasions without sucess. Now the important bit....the price has recently hit the 61.8% level (c$1150) on the fib retracement model since the peak of the rise in Sept 11`.....three times! Its bounced off all three times with a significant middle peak of $1300, thats bang on the next fib level up at 50%.
The next couple of months are crucial for the next overall direction, if the 61.8% is breached to the downside then look for heavy falls, but, if the price continues a more positive path (it seems to have levelled out over the last couple of years) and breaks more short term falling trend lines then I can see $1300 getting challenged again.
If it breaks the $1300 ( 50% fib retr`) to the upside then a new picture emerges in that this level represents the middle peak of the treble bottom, so if you project that level up you get to $1450 ie $1150 - $1300 = $150 added to $1300 = $1450! and guess what....yes its the next fibonacci level up at 38.2%!
That all fits in with Mr Burfords Elliot wave theory so could be on the brink of a good move up, and wouldn`t that fit in well with ECR announcing stonking results from Itogon and the start of small scale production out of SLM.
An MGA announcement in the mean time would surely light the blue touch paper and send this one on its way.
This sp is ludicrous at the moment but it is AIM, and the MM`s still have to make their profit on the spread.
Hi M21. Nice to see your still about and confirms to the de rampers that you have not sold out. As always your post is written in an understandable and balanced language. Nice to see your still out there mate. Regards Barry
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