Market Wrap: ASX closes 0.7% up 14 Nov 2013 - ASX closes 0.7% up. New Sims Metal Management Limited (ASX:SGM) chief Galdino Claro says conditions in metals markets remain tough four months into the current financial year due to a sluggish north American economy. Slow for finance for all.
Good post mate. In the uk we have got the new bloke at the Bank of England , telling us we are pulling out of the recession . Figures can be manipulated. Also anyone that thinks Europe is ok now. Needs to see a shrink. Aussie currency dropping. As others are too. The point I am getting at is. No one will trust currency. They will all flock back to gold. Being in a junior gold mine could turn up trumps. Gold will rise again I am sure. IMO. Atb. Zeps
I agree with you. All viable and sort after materials. Why hasn't some. Company come In and snapped it up. Maybe there is a company waiting for certain milestone to be achieved. Some may have been reached and others waiting. Mb is trying to get a off take for the remaining 30% of the tungsten. Then we will probally see the finance fall into place. I know when you have shares in a company and the sp has been 7x + it's present sp. It does get you angry and annoyed. Especially when you know for a fact it should be somewhere in the middle, as thor should be. In production with springhill and molyhil and finance available. We all know this would bypass its past highs. It's just the finance. IMO, Mb is in advanced talks on finance. But we can only wait and see. He is trying to tells us but Can't. Just a gut feeling. Atb zeps
Gold approaching AUD$1400 again. A combination of a weaker AUD(down 4% vs USD from recent highs 0.97 - 0.93 today) and a rising gold price.
The AUD/USD rate will be the key to the viability and value of our projects. The RBA are adamant that the AUD is overvalued, although no signals yet I guess if it continues to be overvalued they will have to lower interest rates to remedy this.
They have assets that belie the current market cap. The current SP reflects the markets confidence in their ability to deliver these projects on their books. I thought 2013 was to be the year. Maybe not. If Molyhil was that viable and if Tungsten is so in demand then why has it been so difficult to raise funds to develop it? Is it a PR issue? Do we have the right contacts? TGN in Australia recently signed an offtake deal for $15 million for their Tungsten project. It didn't really take them long at all to stitch this deal up.
Yes I Definately believe this stock is manipulated. The frighten thing is they can and do. Why ? I am not sure. I think they are close to announcing financing. I know he has been saying that for awhile. But just a gut feeling he's close. There's been a lot of things going on with springhill and molyhil. There's only the money holding it back. When that's in place .( Which I believe will happen ) this will fly. Look at the others that are nearing production. There miles away from this sp. Must dash. Good morning and good luck all. Zeps
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