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Only hedge in the market is Gold,
A normal correction in strong uptrend for gold price. $1655/oz at the moment which is good enough for POG to make a gross profit of over 400 millions in 2020 imo.
True. Many of them have.
$5,000 Gold Price Is Possible, Here's How - Peter Schiff
Long-term, gold will benefit from tailwinds caused by government policy failures.
Longer-term, gold prices are headed much higher than current levels and could even go to $5,000 an ounce, this according to Peter Schiff, CEO of Euro Pacific Capital.
“I do think that this is the beginning of the breakout of the consolidation that we’ve been in for the last several years, but ultimately I think gold’s going to go quite a bit higher than $5,000,” Schiff told Kitco News.
Gold’s move upwards can be attributed to monetary policies around the world, Schiff said.
“It is the monetary policies and the mistakes that are being made not just by the Federal Reserve but by central banks all around the world that is driving the narrative for gold because gold is an alternative to all these money substitutes,” he said.
Governments around the world are creating inflation and supporting asset bubbles by spending money they don’t have, Schiff noted, and this creates tailwinds for gold.
https://www.kitco.com/news/2019-07-30/-5-000-Gold-Price-Is-Possible-Here-s-How-Peter-Schiff.html
Gold can cross $2200 easily, markets are unable to figure out this new risk from China
I wonder if IRC could sell POG a helicopter, it might mean that POG is the only guarantor on the debt, therefore if IRC cannot repay all the debt, I wonder if POG could potentially take control of their assets ??? Again though to my previous point annual repayments are not a large amount
Well there leverage should go down from a very shaky 6 times to a very respectable 2 ish times at the interim results. This would be a sign to the world that this company is no longer highly indebted.
whos next the problem is we never manage the top prices. They always sell at a discount. So the savings on transportation costs could just make the difference. If gold price does well and IRC just makes enough to repay debt different animal in a few years time.
Get ready for a record-breaking rally in global gold prices.
https://www.forbes.com/sites/simonconstable/2020/02/24/gold-prices-are-headed-to-record-highs-no-matter-where-you-live/#2d9fcef678d5
Rusty,
Concerning IRC ,
The bridge is no longer decisive in the cost. The price of iron ore increased well above the $5/t. (memory) of planned bridge savings. And surprisingly, ore prices remain good even these last days. We could have a rather good surprise (or a least an improvement) on that side too.
2227 I never at any stage said there was anything to worry about. What I am emphasising is that IRC ( AT THIS MOMENT ) isnt even proving it can pay its debts. Now that could change once the bridge is fully operational as that will reduce transportation costs. But that could be another 6 months or longer.
Gold price at these levels, I'm nor worried at all.