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Up through $1900.
Try comparing the gold price chart to the HGM share price chart. Extract and display together. Over the past 5 years you will find a strong correlation, and you can see the leverage.
Rye, from where do you get just 2 to 2.5 leverage please, surely this is way out, production costs remain the same with gold price increase, the extra profit goes straight to bottom line.
There are other factors to think about of course, fuel costs currency Russian factor Major shareholdes etc,
This share tracks the price of gold with a 2 to 2.5 leverage. That is what gives me a my estimate of value. Personally I don't use set targets. My target is a moving one!
it is getting even better.
Highland Gold Mining Ltd
HGM
275.00 GBX
+10.00 (3.77%)
Gold
1,892.25
+2.25
there is my target,
Highland Gold Mining Ltd
HGM
272.20 GBX
+7.20 (2.72%)
Given the gold price trend, and the price today, we should be trading around £3.50 IMO. Takes time to correct though.
Hoping to top the highs of May with the price of gold, almost 200 dollars an ounce more than it was in May. Money being printed for fun. Hopefully the SP price hold while it consolidates the overbought factor. Can't see interest slowing that much if gold keeps rallying.
Yep this is more like it. Gold a whisker away from $1900/oz.
Bets on will HGM reach £3 before gold breaks $2k???
I'm confident we will get to £3 mark soonish although nothing goes up in a straight line and every technical indicators is showing overbought state, expecting tiny retracement today/tomorrow and testing highs from May
maybe today is the day
Highland Gold Mining Ltd
HGM
264.00 GBX
+14.20 (5.68%)
very close to my target 270p
Highland Gold Mining Ltd
HGM
260.40 GBX
+10.60 (4.24%)
Some more strange trades going through today I see
How is this possible if they are all O trades ?
23-Jul-20 08:50:35 253.00 3,949 Buy* 251.60 253.00 9,991 O
23-Jul-20 08:50:35 253.00 3,949 Buy* 251.60 253.00 9,991 O
23-Jul-20 08:50:35 253.00 3,949 Buy* 251.60 253.00 9,991 O
23-Jul-20 08:50:35 253.00 3,949 Buy* 251.60 253.00 9,991 O
23-Jul-20 08:50:35 253.00 3,949 Buy* 251.60 253.00 9,991 O
23-Jul-20 08:50:35 253.00 3,952 Buy* 251.60 253.00 9,999 O
Gold
1,875.15
+10.05
Gold still climbing
If you say so mate.
With total cash cost under $600/oz and all in sustainable cost under $800/oz ....likely production 290k to300k oz in 2020. HGM should be able to make a profit of around $300million this year. This company is worth between two and three billion dollars imo.
This share looks like a real bargain to me. I think Mr Market is wrong with this one.
XAU/USD 20th of May- $1745/oz
HGM 20th of May- intraday high of 282p
__________________________________
XAU/USD 22nd July - $1850-$1866/oz
HGM 22nd July - 252p
go figure..
and HGM is looking even better today
Highland Gold Mining Ltd
HGM
253.40 GBX
+7.80 (3.18%)
https://www.mining.com/gold-price-climbs-again-after-citi-says-record-is-matter-of-time/
Citi says 'only a matter of time' before gold hits record.
Forget the charts ,look at the gold price.
Gold price seems likely to breach all time high very soon imo.