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Could reach £3 by the end of May
Gold eyes $1800 mark on fears of trade war, second virus wave
Highland Gold Mining Ltd
HGM
277.38 GBX
+17.38 (6.68%)
and spiked this morning.
Highland Gold Mining Ltd
HGM
275.15 GBX
+15.15 (5.83%)
The only caveat was that it's based in Russia (surprise, surprise!).... sasa.
and HGM is all time high today, wow
A good read that; the review of the 2019 outcome was very concise and informative (liked the 'Thank you' at the end - a nice touch, I thought) and whilst the debt situation is notable, it's comfortably serviceable as exemplified by the Net Debt / EBITDA ratio of 1.2 x...
The key going forward, of course, is the Kekura contribution in three years time and if the AU price strengthens meaningfully in the interim, the sp will be a lot higher than it is now - good stuff, meanwhile... - sasa.
Good insights thanks. corporate presentation page 23 shows that HGM is a lower cost producers, and has good resources. https://highlandgold.com/media/1582/full-year-2019-annual-results-corporate-update.pdf
Much depends on the Gold price but it’s a low-cost producer (All-in-Sustaining Costs of US$791 per oz) with a raft of producing assets in three remote clusters in Russia's far east. For sure, it’s carrying a significant amount of debt but it does have considerable financial firepower left and that includes a credit facility of US$340m. But the really big prize lies with the commissioning of Kekura planned for late 2023. This is projected to add another 170,000 oz of Gold to its output. Between then and now the company is upgrading and developing its current producing assets as well as expanding its Valunisty mine through underground development.
It certainly comes with risk both in terms of jurisdiction as well as the control that its major shareholders have over the company and, of course, the Gold price. But put into perspective, it pays healthy dividends and it shows no signs of being hit by a lockdown. Importantly, its producing assets lie in three separate clusters; it's not completely dependent on a single asset. In today’s investing climate, simply being able to operate normally and profitably is a standout feature.
The company’s EBITDA increased by 34 per cent to US$205.1 million during 2019. It's the winning stock for sure in these hard times
You can sell on or after the ex d date and still receive. Also most of those 400k sells are 'at limit' so may not occur.
excuse my ignorance, today LSE currently have 400k sells to 125k buys, will people selling today still receive the dividend when it’s issued?
Thanks
...HGM is a good company indeed Herbieridesaga. I have almost 7k shares in this company at an average of around 190p. I believe gold will top $2k/oz in the near future, but I am struggling to get my head round why world stock markets are so high when lots of companies are going to go bust, government debts are going through the roof, unemployment is/about to rocket. The government can't bail everyone out. Maybe I am missing something !
But this is a good company
….. 3.5 p / share.
World stock markets well overpriced in my opinion : FTSE around 1500 points too high imo, and Dow now back to were it was 15 months ago ! 26.4 million unemployment claims in the U.S, so no doubt Dow will hit all time highs in the next couple of months the way stock markets are going ….unbelievable !
stick with HGM and you can not go wrong
Very solid indeed. All project work on schedule. Sets up the next 6/7 months nicely for the major seasonal construction work that needs to take place. As expected additional COVID prevention costs will be incurred for the changes needed to shifts and additional quarantine procedures pre shift changes. Much lower fuel costs to come through to offset. Lets hope supply chains remain resilient so everything can be put in place for Kekura development going into 2021.
A good, solid set of results this morning.
The Company affirms its guidance for total production of 290,000-300,000 oz of gold and gold equivalent in 2020.
Shame most of the miners are down today (and gold). Doesn't make any sense IMO. Seems people would rather chuck money at RDSB.
Just saw it on Bloomberg tv - Bank of America raised their forecast for gold from $2000 to $3000
In 08 people lost their homes due to the sub-prime mortgage crisis. This time around governments are providing guarantees to banks and mortgage holidays to owners. The knock-on effect being people still have that equity and confidence to go out and spend (in theory) once measures are relaxed paving the way for a sharp bounce in Q3 and Q4. Inflationary pressures will be good for gold. Fears over nations being unable to service their ballooning debts will be around for a while to come and that should also be good for gold.
"The Board declared a third interim dividend of GBP 0.035 per share (2018: GBP 0.024) to be paid on 05 June 2020, thereby bringing the total payout based on the 2019 financial year to GBP 0.135. The ex-dividend date is 23 April 2020 and the record date is 24 April 2020."
Third interim dividend declared, confidence here will only continue to grow.
"Gold has been acting very well in the last month. All the technicals show that its uptrend will be maintained in the short, medium and long term," he said. "We would expect to see prices over $2,000 by sometime early next year. That is not a surprise, fundamentally either, in the current environment."
HTTPS://www.kitco.com/news/2020-04-13/A-Gold-price-rally-to-2-000-would-not-be-a-surprise-Sprott-s-Grosskopf.html