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Feel similar about Tudlow as PMO - I always get burnt - my oil play (services) is PFC which has always been very good to me whenever I dip in and out.
Resolute - this is the UK listing of major Austrian miner and seems to be hampered by the general downturn in Australian market. If you are looking at banks you have to consider METRO it wins hands down on every metric - now that would be a very funny turn of events and of course your buy in price is excellent!
On a quick look at figs -something very strange going on (even with putting recent takeovers to one side) would see on first impression Turnover down, operating profits down, but Assets up? Cannot see who the major backers are, as no one of mention would watch but avoid until I had more knowledge? Feel a further stab at Uk major banks might be worth a punt after next weeks ECB, FED decisions and after the Trade is leading a path to the garden of eden? They look cheap?
Also got a lead from Acacian who is doing some crazy posts lately but on a whim I followed his tip and bought some SQZ which is also making me money and worth a look.
Hi Super, I do notice that TC keeps jumping from the top to the bottom of the risers and fallers but I just don’t really understand why and I don’t like the industry so I will keep the crazy trades to MTRO which at least I believe in. Like you I really like the gold co’s, despite my reservations on silver I have a large stake in FRES which is paying off but still cheap, I am doing very well on SRB (worth a look) but now fallen into a loss on RSG which seems cheap but keeps falling - take a look, I would value your opinion. INDV doing well but remains my stand out favourite with potential for a massive leap if the September court case goes well or a settlement is achieved, check it out.
They are heavily shorted and if the Company is relisted and the shareholders get less then the shorters will want to get back in quick which might explain how volatile the share price has been in the past week or two. i.e.the price seems to fall to about 6p and then quickly rises to about 10 to 12p and back down again? Could be worth a punt if you have the time to watch?
Yes agree Franky but i'm in enough Banks what with RBS, Barclays, Lloyds et al & all down for me and likely to fall further short term. My Marstons are doing well but I wish I had also been in toe Green King!! I did track and see some of the others that have left us here tweeting under other shares but I suspect they are trying to make a quick buck elsewhere and then want to come back in here complete with their additional spoils to buy in with bigger funds later before the Barrick conclusion, (good idea), but the way life goes is they go elsewhere lose money and then come back with less as we have moved on. My experience in life is however sometimes as you may have found it is better to stick than twist and all that glitters is not always Gold!
Please don’t feel sorry for me Franky, ACA has stayed about level which is of course no bad thing I have made more on FRES and INDV that I am showing as a loss on Metro. Added more MTRO today and will keep at it until the tide turns, still very confident that it will come good or of course perhaps I am just crazy but having fun.
I kind of feel sorry for BB or anyone in Metro. The idea is a good one but yesterday in the morning it shot up 9% and I just though "suckers rally" and now its lost all those gains an some more! Such a bull****. Basically Metro is worth whatever price the big boys want it to be and fundamentals mean nothing. That'll go below £2 quid given time!!! Meanwhile our ACA price should now be at 2.57 for parity with Barrick!!! yummy
I see some big buys this afternoon, not sure if the boys who bought Metro Bank are coming back in here for a slice or humble pie?
I think gold will trade in a range and then do another massive 100 point leap later in year...here's hoping...would be good to see Barrick past 20 dollars before the vote in September!
Perhaps in advance to try and improve relations with Acacia before the takeover and to avoid any Arbitration that presumably is still live until Barrick are in charge. However unless the GOT give a little more the action could still takes place for the minority shareholders who after all have lost dividends and income over the past two to three years. I would now like to see the tailings stall restarted and the composites allowed to be exported to consider dropping the entire Arbitration and to relieve/recover the share price. I also wonder if Barrick could request to be considered to registered to trade on the LSE to keep the old Acacia shareholders able to trade who do not have access to the Canadian or NYSE. link attached to Mining news :-
https://www.mining.com/acacia-mining-resumes-gold-exports-from-north-mara-processing-remains-halted/
Wish you all the best BB, I am staying in Acacia but I have always held others shares as well as you know. I was employed by a Japanese firm for a while dealing with some of their most difficult claims and they are very clever hard workers and also very clever people. I understand from them as private investors there is no point in investing in their own Country with the low rates as you say and they instead invest heavily in Gold, and also in foreign markets. I expect them (as well as the Americans to come back into the FTSE once we get Brexit behind us). Why not divest into the other Banks, i.e. RBS took a hit yesterday because it went ex.divi, however all of now slimmer and ready to go forward without debt and can make big profits again once we have the PPI miss-selling behind us, and the B - issue again. Good luck -however I have a feeling we may see you again back in here later. I see MB and the GOT lifting the sanctions soon on the tailings and the composites held at the port and so this share will then excuse the pun "rock". -Cheers x.
Hi guys, sold my remaining position as seeking opportunities elsewhere. You are on very safe ground here and no one can criticise you for holding although if you now love Barrick so much I think you might actually be better off selling ACA and buying them directly after all they will receive 5/6ths of all the future benefits but obviously your call. For me I have taken my profit and spread the funds around other gold stocks particularly FRES who have been hammered since their last report but who will also be benefiting fully from the rise in gold price in $. Whilst I acquired a lot of shares in FRES at £6 which was akin to buying ACA at probably £1.30 in my view, I am still adding and will continue to do so whilst it remains under £7. Metro continues to kick me in the teeth but using my ACA analogy I believe at current prices that it like when we had the opportunity to buy ACA at £1 - it took guts but paid off in the end. I might be absolutely wrong on MTRO but it is not going bust and the pain will pass in the end, it is worth more than the current SP and in my view a better play than any of the other banks - Buffet is knocking the trend and buying big into the US sector. I am not afraid of a lower interest rate as the Japanese sector makes a 6% return on negative interest rates whilst UK/US banks struggle to make 2% despite positive interest rates, we still have much to learn.
Again you are on very solid ground with ACA but your potential profit is capped to 1/6 of Barrick uplift (plus the divi) and I just feel with all the other gold stocks out there to choose from other companies offer a bigger upside.
I have enjoyed your company on this journey and wish you all the best going forward.
Not sure how Barrick will rise but best guess is quite slowly. Seems to nick a fraction of a per cent each day but as a mature business its ot going to keep shooting up unless GP does something dramatic aka a stock market meltdown.
Gold exports started from N.Mara, additional Gold from Tailings facility export notice being sort, meaning they can now meet all their financial requirements (per the notice). With the price of Gold so high what a great time to start exporting again. This must be as a result of the positive relationship MB has created with the G.O.T -Great news!!!! Hopefully we can now keep the share price rising from here.
They re talking about .25 or .50 cut in the US. Other major thing is a weaker dollar, though versus the pound it ll stay strong you d think...given gold is used worldwide a weaker dollar against most other fiat currencies will also be significant. Stars aligning!-))
Hi Franky yes I can see what you say and all very good news. I was watching Bloomberg and the Gold price today and it started to go down immediately after Trump said he would delay putting additional tariffs on Chinese goods until December, and then suddenly the Chinese said he had broken an agreement made is Osaka? and they would retaliate (when the Gold price came back up again. B/berg also said today the ECB is seriously considering cutting the base rate hard to help their businesses which they could be looking into as soon as tomorrow? This will help us too. Gold and ABX up again at 7.17pm.
By the way Super...state street are a custodial bank that run fund services and act as a 3rd party settling transactions for fund managers and the like. I expect they are acting on behalf of their clients as the transaction is finalised and nothing more.
Gold and also Barrick are in a range since breaking 1500. There was a higher high at around 1535 and a higher low briefly on tuesday at 1480 or so before rebounding. This pattern does suggest another break out to 1550 plus over the next couple of weeks. Barrick shares need that to maintain status as a "Momentum" stock!! Would be hopeful as Acacia is currently very boring..I want my 10 p dividend and even then I m still 10% down lol!!!!-)))..we re a full year from full stock market meltdown and there will be big rallies to enjoy..but I ll wait;-)!
Seems like the fund Manager and investment houses still building here in afternoon US trade.
Franky perhaps in another year we can clean up here and go in and buy metro Bank for £1 ?.
We have since gone up by £1.50 since those Acacia dark days and now look forward to working with Barrick and the G.O.T. to make the Gold mining with our Chinese Smelter friends a huge success. There's an old wise saying "don't throw good money after bad", I will stay here with the "Gold." Meanwhile Chinese Govt and Trump playing all sorts of trade wars today, Gold is up and down and no doubt up again later.