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I get it guys but Basel III kicking in on June 28th changes everything ...
I'm well versed (and physically stacked + miners) in Silver - trust me ;)
The banks have to be audited ahead of the end of June deadline to prove they have a certain amount of physical Gold - whatever paper/fake gold they try and manipulate the market with has to be backed by 85% of the physical instrument.
This entire market is leveraged paper vs physical gold scores of times over, and in silver's case, maybe hundreds of times over what metal actually exists so the race is on to stack it wide and deep.
The fact they arranged all this during a long-planned hyper inflation period says it all - banks everywhere are epicly long gold and silver like they've never been before because they can't make money from usury - negative rates are nailed-on, bond yields have been real-world negative (vs inflation) for ages already.
In the LBMA's own words - "this may cause liquidity issues when trading gold" - all the "liquidity" so far has been provided by CRIMEX via paper but the jig is up, now it's about the actual metal for the first time in a very long time indeed.
The actual physical *deliveries* of gold, not "eligible" and all the other nonsense statuses they use, over the last 12 months are record-breaking, unprecedented - this is why.
Guess what happens next - I've got c$2,350 for the first move in Q3/Q4 then $3k beyond that but this is a "cycle" I expect to run for at least two years from here so just sit on your hands and let it play out.
Expecting Gold to get to c$1,830 then it'll likely take a breather - be interesting if it goes above there though - probably wise to expect crimex to drop a ton of paper at lunchtime too of course for the weekly close, they're running out of time for that game though ...
Don Durrett, who runs a pay for website analysing gold stocks, posted his view on Hum 2 days back on Twitter.
“I just analyzed Hummingbird Resources. This stock has been an ongoing disappointment, but I put it back on the Top 25 list. They acquired a project in Guinea that adds to their risk-reward, which is compelling.”
Don puts cash cost at $950 Don puts all in cost at $1500 Given large resource he expects LOM to extend Describes Kouroussa as a bargain Whilst doesn’t know capex cost says we can probably expect equity dilution to fund CAPEX He asks why investors hated this stock - and puts it down to high costs
mmmm there was alot of great discussion around CORA HUM interaction a few years ago and it all made complete sense, but at no point was the idea of horsing the ore over to HUM really a viable option, i suppose its a useful top-up function or grade improver to bridge gaps like we are currently in (keep AISC down and grades up for a bridging period)..... but as a main stream of extraction and value realization for the CORA asset its not going to cut the mustard as Yanfolilfa is already at capacity throughput.
Having said that then, a standalone plant for CORA to develop with a part hum, part royalty financier to get it into motion would be a nice low risk way of getting a piece of a NEW pie and fund further CORA development. Who knows maybe Pasafino if proved successful in the next 2 years could become a great ongoing development partner of HUM/CORA relationship.
Either way the future looks rosy for the multiple assets that HUM have their fingers into. Patience is as ever the key here.
Bamf... thank you that is super interesting.... "The Company has this week signed a contract for the services of a highly-qualified, UK-based Metallurgical Consultant who is developing the specifications and sourcing equipment for a commercially viable gold and silver gravity separation project."
There was a cora update several months ago about sending 350kg of ore for gravity testing to see if it's worth while for Cora to produce a concentrate which can be transported to Yanfolila. Results of which haven't yet been communicated but I have been wondering if the capex into new storage tanks are anything other than coincidental?
I'm also into a fair holding here. The licence isn't top of my list of concerns, which are more focused on gold price and grades on current operations. Any bad news regarding the licence might give us a rocky day or two, but in the medium term, any expectations regarding Kouroussa aren't in the share price at all. It's pretty much priced only on current operations. So I would think there is definitely a rerating upside on getting a licence, but no real change to the current fundamentals should there be a problem.
Anyone getting a little nervous about the lack of licence for Kouroussa? Dan Betts went to see the Guinea mining minister last week. To go all that way in the middle of a pandemic was either going to be good news publicity related or to try and resolve an issue with the licence. A lack of announcement following that trip would suggest the latter? I do hold a fair number of shares but starting to get a tad twitchy about this.
You read my mind. I'm finding myself everyday with one eye on the gold ticker, like a slow moving cricket test match. Feels like the pitch has started breaking up on the morning of day 5 and things are going to happen one way or the other.