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Thunder - you're right of course - we should question things, especially for investments in countries like Russia.
I just don't see a HGM specific problem at the moment - we're most likely being swept along by macro-economic pressures IMO - but time will tell and investors with any sense will keep their eye on the ball.
The general commodity sector has been downbeat today, lets see what tomorrow brings.
I will also share this: I worked for a multi millionaire, and when we discussed the stock market, he had little input on his investment. His wealth was managed by someone else. (id like to think my portfolio is probably up in % over his since C.V. Lol).
Join the dots, its always worth questioning why the price is going the opposite way to where it should. There was no rerate here since the POG rose to $1800 - and that was after the large spike to £2.80 earlier in the year.
We're not going to find out the reason, but to assume there is some sinister reason or deep meaning to the action of sellers when there are a number of very plausible explanations backed by real information in the public domain is stretching it.
Billionaires are a strange bunch where their wealth is a balance of their assets minus liabilities and in good times they thrive by rising asset values and their ability to easily service debt - we are at a moment of extreme stress and all bets are off, the recent collapse in Gold mining shares was attributed to sellers liquidation to cover other positions.
Richard Branson offered his prized island as security to borrow recently and let one of his airline investments go bust, who would have though that Multi-Billionaire would be strapped for cash - rich or superrich if you can't service debts it's over - happened to Robert Maxwell, Alan Bond (at one time one of the world richest) and many others.
Gotti - there is no reason to believe its manipulation
We can't assume anything, just hazard a guess, but I don't see any demons here.
It seems that POLY and HGM are both trading a bit lower than one would expect. I also hold CEY and that seems stuck too. I am not reading much in to the individual buying and selling. My own view is that money is leaving the wider market. Ftse gone down all week. Gold rising not helped us much (yet). If the index falls, this will just fall less, even if results are good.
from +6% to to-2% with great Q2/H1 results released and record levels POG, that's AIM ****** manipulation at its best, seriously wtf
If a billionaire needs to sell such a tiny value stake to cover margin then there is something wrong. I feel like there is some other reason for the disconnect, but not sure I will find out anytime soon.
Thunder - as I said the other day, IMO the most plausible explanation is that like business leaders around the world our seller(s) has probably been caught out by the collapsing economy, it is apparently especially acute in Russia and combined with the sanctions, $$ swap problem and collapsing Rouble means some Russian asset based investors only have the choice of selling overseas listed entities to raise capital at the moment.
I would also mention that Russia has hundreds of Banks not all fully backed by the government, those entities could be exposed to some very bad loans which could bankrupt them (many Russian companies have a problem in having $ debt and Rouble income that's why Commodity and Gold assets are so prized). Our seller from the other day has Russian based assets that may require support and only have income in Roubles) I took great comfort from HGM being able to secure debt at a reasonable interest rate recently - speaks volumes for the security offered. Sorry if I'm preaching what you already know, but you asked.
If the bulk of selling is indeed down to a single or a few entities as appears to be the case that should be very reassuring that the SP will recover strongly
Some serious selling going on...question is why?
This share appears to be becoming one of the sector laggard, it normally responds in line with it's peers, I suspect it is due to our seller/s dumping into the buying.
Not a problem if you're in it for a decent time scale as any delay in repricing will simply lead to a bigger jump later as long as HGM continue to perform well. If you want to get out quick at full value - tough luck unfortunately.
Despite lower production we are still on track to produce 290-300koz this year.
A forecast 165-175koz in the second half at gold prices of $1800/oz+ and we are still trading at 240p!!
Record-High Gold Prices Are in Sight
Read more at: https://www.bloombergquint.com/business/record-gold-in-sight-as-virus-woes-keep-prices-above-1-800
Copyright © BloombergQuint
The average realised gold price was US$ 1,723 per ounce in the second quarter and US$ 1,655 in the first half of the year.
Seems like HGM will be smashing record profits each quarter.looking forward for Q3/Q4 results with price of gold >$1800/ounce
"The Company affirms its guidance for total production of 290,000-300,000 oz of gold and gold equivalent in 2020."
HIGHLIGHTS
· Highland Gold's four operating mines produced a total of 61,357 oz of gold and gold equivalent in Q2 2020, in-line with production forecasts for the quarter (Q2 2019: 70,293 oz).
· For the first half of the year ("H1 2020"), total production was 125,347 oz of gold and gold equivalent, also in-line with internal production targets (H1 2019: 142,254 oz).
· The Company affirms its guidance for total production of 290,000-300,000 oz of gold and gold equivalent in 2020.
· Mnogovershinnoye (MNV) and Valunisty increased waste stripping by 101% and 35%, respectively, in H1 2020 in preparation to access higher-grade open pit reserves in the second half of the year.
· Equipment is on-site and buildings are currently being erected for the processing plant expansions at Novoshirokinskoye (Novo) and Belaya Gora, with both projects on track for completion this year.
· Kekura construction also continues as scheduled, with several second phase facilities in progress including the main processing plant and the camp expansion.
· Construction has begun on the Baley ZIF-1 Tailings heap leach project, which is expected to produce first gold in 2022 with average annual output of 15,000 oz over 11 years.
· Production, sales and supply chain were not materially affected by the COVID-19 pandemic, as outlined in the pandemic response statement issued by the Company on 29 June 2020.
· The average realised gold price was US$ 1,723 per ounce in the second quarter and US$ 1,655 in the first half of the year.