George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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· Total gold and gold equivalent production in 2019 was 300,704 oz, an increase of 12% from 269,500 oz produced in 2018 and slightly above the guidance range of 290,000-300,000 oz
· EBITDA improved by 34% to US$205.1 million, with an EBITDA margin of 52% (2018: 49%)
· Total cash costs (TCC) were 10% higher at US$556 per oz, mainly due to the acquisition of Valunisty and its higher-cost production (??? US$786 per oz), but were still well below the industry average
· All-in sustaining costs (AISC) rose by 16% to US$791 per oz due to the impairment of poor ore at Belaya Gora and Valunisty, increased supporting capex at MNV, Belaya Gora and Novo, and higher TCC
· Cash generation remained strong with net cash flow from operations rising 2% to US$138.4 million
· Two interim dividends of £0.05 per share each paid in respect of 2019 for a total payout to date of US$ 46 million
Bloomberg news ,
Gold’s Powerful Rally Has Bulls Setting Their Sights on $1,800
Commodities5 hours ago (Apr 14, 2020 03:36)
You were spot on mate ,
Gold
1,772.20
+10.80+0.61%
Highland Gold Mining Ltd
HGM
249.41 GBX
+21.01 (9.20%)
Well Gold prices up today results due on Wednesday ,I will be surprised if we don't touch £2.47 + this week .
Stimulus funding pledged
- $2tn US fiscal package approved by Congress. US may add $0.6t state aid for mortgage markets and travel industries
- $2tn US – Trump looking at $2tn infrastructure fund
- $700bn – US + Fed rate cut to 0-0.25% last night. The $700bn QE to buy Treasuries and mortgage-backed securities.
- $963bn (€750bn) ECB scraps limits on sovereign bond purchases. ECB PEPP buying running at around €250bn
- $825bn (€756bn) Germany – Bundestag approved €156bn in extra borrowing and ~€600bn in emergency funds
- $344bn - China stimulus + $127.2bn. China stimulus was $586bn in 2009
- $544bn (¥60tn) – Japan fiscal stimulus package equiv. ~10% of GDP $17.4bn Japan + Y300bn of inflation-linked bonds,
- $400bn (£330bn) UK + $242bn (£200bn) UK QE from BoE & no business rates plus £25,000 cash grants for hospitality sector
- $387bn (€304bn), France, $200bn (€200bn), Spain, $214bn (A$320bn) Australia, $78bn (C$107bn) Canada, $32bn Saudi Arabia, US$43.7bn Singapore, $22.6bn India, $15.4bn HK, $13.7bn South Korea, $10bn Switzerland, $8.4bn Italy, $7bn NZ, $3.5bn Ireland, $2bn Taiwan, $0.75bn Indonesia,
- $1,000bn - IMF available + $12bn World Bank,
Separately we are beginning to see why a strong dollar cannot be maintained long term. Emerging economies cannot compete nor are they able to meet their dollar debt obligations. Argentina has now ruled out paying $10bn of it's dollar debt and is seeking to restructure a further $70bn.
Sit on your hands and watch this golden egg grow.
Gold
1,740.60
+56.30+3.34%
ColonelDrake you have got that one wrong ,
Total gold and gold equivalent production in 2019 was 300,704 oz, an increase of 12% from 269,500 oz produced in 2018 and slightly above the guidance range of 290,000-300,000 oz.
The average realised gold price was 1,482 US$/oz in Q4 2019 and 1,395 US$/oz for the full year (compared to 1,255 USD/oz for the full year 2018).
Higher production volumes and higher av. realised prices = should make for attractive numbers for f/y 2019, at least in the revenue section...
... going forward - we have higher gold prices, low oil prices (should help reduce costs?! along with slightly depreciated rouble), looming recession and fiat currencies depreciating which should push PM prices even higher... what's there not to like about this share?
It will soon be Wednesday ,and hopefully a nice reward for us all.
Good things come to those who wait...
Results coming Wednesday 15th April ..I wonder how have we done ?
or even above 1700
Gold looks to be recovering as the dollar comes under pressure. Markets are bracing themselves for next lot of Jobless Claims due Thursday which could be much higher than the record 3.3 million last week
Russia has halted its gold purchases
Gold Weekly Price Analysis – March 28 When the bulls penetrate the resistance level of $1,643 upside, it will be targeting the resistance level of $1,690 and $1,712. In case the resistance level of $1,643 holds, consolidation may continue. XAUUSD Market Key levels: Resistance levels: $1,643, $1,690, $1,712 Support levels: $1,591, $1,543, $1,478 XAUUSD […]
The post Gold (XAUUSD) Price Is Testing the Resistance Level of $1,643, It May Bounce-Off appeared first on Cryptovibes.com - Daily Cryptocurrency and FX News.
Anglo Asian today announced they are unable to ship gold doré to its refiners in Switzerland... Hochschild and Goldfields have suspended their Peruvian operations... Newmont suspended 4 of it's operations (20% of production)... Lundin Gold suspended their 325koz/pa Ecuadorian production... Pan African Gold and Goldfields along with all South African producers... Alamos Gold suspended it's 400koz/pa operations... Yamana Gold and Wesdome Gold both in Quebec have closed... IAMGOLD has closed it's Westwood mine... B2 Gold's Masbate mine in the Philippines
https://www.mining.com/worldwide-mining-disruptions/
https://www.scrapmonster.com/news/anglogold-to-suspend-production-from-south-africa-gold-mines/1/74803
https://finance.yahoo.com/news/miners-suspend-slow-operations-coronavirus-141402751.html
Chart Of The Day: Exceptional Buy Signal For Spot Gold
By Investing.com (Pinchas Cohen/Investing.com)Commodities3 hours ago (Mar 24, 2020 10:23)
I found the same tracking TSG.
Three of the world’s largest gold refineries—Valcambi, Argor-Heraeus and PAMP—said Monday that they have suspended production in Switzerland for at least a week on the back of mandatory closure of non-essential industry in the country to prevent the spread of coronavirus, according to a report from Reuters Monday. The report said the three refineries process around 1,500 metric tons of gold a year, or about a third of total global annual supply
Gold
1,675.00
+107.40 +6.83%
Now
1667.19
over $100 swing in a day.
The massive beatdown for Friday, especially in Silver resulted in huge physical demand.
I believe PM prices will head for new highs now.
GLA
wow
Gold
1,649.20
+81.60 +5.29%
very good start
Highland Gold Mining Ltd
HGM
193.73 GBX
+21.63 (12.57%)
LSE site seems to shut down midday - no trades , no current price.
Useless
Risk. M
HGM is x20 the size of SGZ, producing and profitable plus pays a div.
Who is more mining friendly Russia or Scotland?
Didn't another co try to start up a mine in a UK national park?