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This share looks like a real bargain to me. I think Mr Market is wrong with this one.
Forget the charts ,look at the gold price.
Gold price seems likely to breach all time high very soon imo.
gotti,
Do you wanna give us some numbers for the Gold chart this week ?
with most recent 4hr candle closing above HGM 243p-245p resistance area formed at the end of May along with smashing triple top at the same area I reckon it's our time to test ATH withing next couple days/weeks
Going from past performace, I am expecting to see the price of Gold really breakout some time after 4.30.
still a lot to catch up comparing to CEY or HOC, sp should be hovering around £3 mark
another good start ,
Highland Gold Mining Ltd
HGM
243.20 GBX
+5.40 (2.27%)
i am looking for HGM to get to 270p very soon.
A number of broker notes have gone very bullish on gold miners last weekend. We have been manipulated down in low volumes, so the value here is now considerable IMO.
Looks like we are getting that Gold price breakout I mentioned on Friday. HGM has some serious catching up to do we should be knocking on the door for £3 already.
Well gold has broken through 130k rubles. Not bad as last year it stood at 92k rubles. Cost mainly in rubles.
Could today be different, 50k share buy on the NEXat 224p.
Potential for Gold price to breakout this evening INMHO
Jointhedots
Thank you for you interesting comments re HGM I must say your theory all makes sense to me.
I hold HGM shares and have been wondering what’s holding them back as CEY & FRES have been making good ground lately.
ATB
Ken
I'd be very happy if this doesn't shoot up before the H1 results. I'm slowly moving more of my funds across to here. However, I totally agree this is way undervalued given gold at 128k rubles or 1800USD
Just to back up what I posted yesterday about the strategic importance of Gold to Russia and the extremely unlikely chance of operations being stopped by C19 as has occured in other countries. Polyus, who I highlighted yesterday as apparently having a huge outbreak at their Flagship mine, have today reported that their production is up 16% so clearly they did not stop operations. "Polyus says gold output rises 16% to 690,400 ounces in Apr–June"
Furthermore HGM updated only a couple of weeks ago about their thorough response and that they had no problems.
I just re-read the RNS and it's all very reassuring IMO.
If I had available funds I would also buy more, very happy with my investment here, profitability this year should be very strong, the higher capital expenditure this year will lead to even better performance in the coming years as the new venture are integrated and what an excellent way to expand, great we've got the option, as I suspect assets are going to expensive going forward.
The crazy SP is merely a temporary blip and providing the progess and gold price hold together a rising SP is ineviatable IMO.
Yes it is ,and i bought this morning.
IMO the SP is crazy, but it is for a reason, as I said the other day "All down to the impact and fears associated with C19 IMO."
However someone followed up to say production may have been impacted, that's not what I meant, I was thinking of the potential for problems rather than anything already known - we must all be clear that Mining is a million miles away from a normal steady state production environment in a factory, planning is years, sometimes decades in advance and capital expenditure huge - so the H1 production was pre-planned and the reduction known if the BoD are to be believed (and we have no reason not to). Problems occur where there are unexpected geological conditions or other disruptions - the proof of the pudding in mining is IMO measured in not running out of a workplace year after year whilst turning out the best possible profit as they go. Highland have proved excellent in this regard, unlike the likes of POG, and we should take confidence from it together with the clear forward plan they have communicated.
Hence I'm not worried about productioon or even C19. Again everyone should be aware (I'm sure you are, see first link) that the largest and world class gold mine Olimpiada in Russia was hit by a huge C19 outbreak of 1000+ cases in May - together with many other mines and oil extraction sites. That together with the financial pressures in Russia was what I was eluding to. However, and this is VERY IMPORTANT to note that the Russian government ensured continued to operate and Polyrus have confirmed they will not lose annual production. IMO Highland as much as any gold mining company in the world is protected from disruption, it is now more than ever of national importance to generate $US revenues. News today is that Gold exports overtook Gas exports in $US value, second link, first time in modern times, the government stopped buying IMO to allow the Russian banks to benefit from the $US.
Noticed yesterday and article from stockpedia about HGM, link 3; finally an article about a billionairre ex-major shareholder in POG, looking to buy assets in the far east - maybe HGM is on someones radar.
Crazy, overdone, but understandable and IMO will rebound strongly
https://energy.economictimes.indiatimes.com/news/oil-and-gas/the-oil-and-gas-sites-hit-by-coronavirus-in-russia-kazakhstan/75908916
https://www.kitco.com/news/2020-07-14/Russia-s-revenue-from-gold-exports-beats-that-of-gas-for-the-first-time.html
https://uk.finance.yahoo.com/news/why-shares-highland-gold-mining-131754203.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvLnVrLw&guce_referrer_sig=AQAAACevnCQs5Y5vqcdujIpnHHTGdNwnzV_d2eYKRC4m0572Tnge8XzDuAs-sGVLYptF1oDU39pVsHalikQZVhWnqIM4cCoLg7hiZRX73bPfpyzrKsXlnv-1qA7nqIDYaRKldAWvPIA4Q0u2FGE4z03qiwzryc0q6xTEkOImthoMRF-7
https://www.kxan36news.com/gold-parties-kenes-rakishev-is-studying-three-assets-in-russia