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No I did not. You're absolutely right! That's probably so say an additional 5-6% on that so would that make it more $4.5m improvement.
That's just on POG & $/£ changes.
Looking forward we could be adding oil change to that.
Looking forward to next week and trying to load up as much as I can atm.
Did you factor the strengthening dollar into that? More significant than POG rise recently when you consider that we report profits in sterling.
A back of fag packet calculation on gold being 6% higher than Q4 would bring in an extra $3million this quarter. Cannot wait for the rest of the year when gold goes on a run.
A back of fag packet calculation on gold being 6% higher than Q4 would bring in an extra $3million this quarter. Cannot wait for the rest of the year when gold goes on a run.
If you have been selling paper gold futures & have an empty warehouse I’m sure you’ll be buying cheap physical gold atm.
Is there a chance that gold production has been unaffected but gold sales have? Will the buyers still be in a position to buy or are we likely to find we have a higher level of inventory at the end of Q1? With the price going up this could be a win win situation.
Nice to start the morning at $1700. I have learnt from being here for soooooo long that the POG on a daily basis means little. But this upward trend and sustained price above $1500 is a positive at the end of the day. The virus has thrown a curve ball that no one could have foreseen and yet the SP has held. Looking at passed performance that really is an encouraging show of strength. No one more than me wants the SP to rise, but when all around are struggling and many going to the wall. HUM continue to churn out the shiny stuff at a greater level then it ever has, and at a greater sustained value than it has been since production started. The market is the market and I confess to still not understanding most of it. However I remain more optimistic than I have for a long time, as we approach probably our best quarter results so far, and gold in this climate would due to most indicator be only going to increase in value, even more so than it already has. GLA and look after your most important assets, yourself and your dear ones.
$1665 bodes better.
Will we top $1700 this week?
Dugbe needs a joint venture or selling on. Both are becoming attractive.
$1651 bodes well for Q2.
Closing in on $1650. We know the gold market has been subject to manipulation in the past. We also know from last week that those investors in paper gold where asking to convert their contracts and take delivery of the physical, and that flagged up that there was way more paper contracts than physical gold. So it will be interesting to see the trajectory of the gold price if there is no interference with the dumping of paper contracts. Watch this space, I'm sure you do already;-)
A nice gold run upto results next week would be great. I'm expecting it Tuesday or Wednesday next week so we should get a run up to then.
Gold showing strength again today, on the rise at $1633 at the moment. Good start to the second quarter and who knows where it will go to by end of June. First quarter squared away now so we just need too see the figures. Looking forward it.
At one stage we had large ore stockpiles to guard against bad weather, presumably because production could then be sustained. This could be useful in other situations ensuring production.
Q1 production completed, results in two weeks sound promising. Stay safe.
To be debt free in 2021 and also to have POG anywhere near that valuation would be incredible.
I'm sure that wont be the only positive for HUM.
Fingers crossed on that. In other news the Swiss refineries have been given the go ahead for a limited reopened. Good news in my book.
https://www.bloomberg.com/news/articles/2020-04-05/gold-s-supply-squeeze-should-ease-as-swiss-refineries-reopen
What would that do to our margins!
The US Federal Reserve – central bank to the world - is turning Japanese. The Fed’s historic and unlimited stimulus and the political consensus to do ‘whatever it takes’ to replace collapsing aggregate demand will unleash the Great Commodity Bull Market of the 2020’s led by gold.
We believe the unprecedented fiscal and monetary stimulus deployed to fight the Covid 19 virus will push inflation higher, interest rates deeply negative and send gold over US$3,000/oz – compared to current prices around US$1600/oz - before the end of 2021.
https://mcusercontent.com/bcf952a3fa8185f9a112ba741/files/837ce41f-89ef-474e-9614-ff851e25fb65/FedGoesToTokyoFINAL04042020.pdf