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Seem to be lagging the rise in gold here again. Last time gold was £1675+ we were touching 70p. Took some more at 62p today. If everything stays equal I think we will see a strong jump here come results at the end of the month
Rising tide today! All my gold producers are up, even TSG!
RB - that was a very shrewd move. I was only able to release free cash from elsewhere recently but content with recent buys. Gold and silver producers are still heavily discounted to where their profitability is headed. Wider macro picture has never been stronger for gold bugs with US propping up their currency status with trillions of stimulus (likely to continue for some months).
The only good thing to come out of the past couple of months is that watching the prices of my main stocks daily has enabled me to nab a few bargains ... none more so than topping up my holding in TSG by 20% on 17th March at a price of 38p .... couldn't have timed it better !
I see the 90p we hit in Feb as a fairly easy target to re-attain ... but I still fear another sell-off will take gold stocks back down with the rest of the market
Sadly we are not invited to the gold fest rally. Will buy more if the price drops to 50p. My short term target is 80p, at which point will sell to my investment value and lets the free shares ride up or down. From the last RNS, I saw nothing but positives.
On frankfurt market they are up 2.5%.
Reminder to all
Released on 20 March when gold futures were trading at $1490/oz (now trading above $1700/oz)
"Current events have resulted in material changes to commodity prices and foreign exchange rates, which are expected to impact positively on the overall profitability of the Group. The Company's dollar-denominated revenue from gold sales remains strong in a supportive gold price environment. The recent oil price decline is expected to considerably reduce the Group's energy costs, and the connected devaluation of the Russian rouble is equally anticipated to contribute to overall cost improvement, as the majority of the Group's operational costs are rouble-denominated."
Guidance issued in January of 38k - 42koz unchanged. Total cash costs of $780 - 860/oz are expected to be lower end as are sustaining costs of $900-1000/oz.
Market cap of $53m today should be multiples! At the last set of Interims the average gold price received in the six months was $1312/oz. First quarter results are coming this month and I suspect there will be a bumper divided when they announce the Final Results in June.
$1692 breakout happening
Gold futures up to $1674/oz today.
Recommend reading this analysis by Arlington Group
https://mcusercontent.com/bcf952a3fa8185f9a112ba741/files/837ce41f-89ef-474e-9614-ff851e25fb65/FedGoesToTokyoFINAL04042020.pdf