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San Jose AISC of $1953 means it is now high cost and running at break even at best at the current gold price.
Pallancata closing now for 3? years on C&M.
What production does HOC have left?: Inmaculada. (Brazil H1 next year).
Can see why Ignacio Bustamante, CEO, has moved on from his long standing exec position.
McEwan Mining on JV with HOC San Jose production.
In Q3, the San Jose Mine produced 17,800 GEOs, an increase of 3% compared to Q2/23 due to a modest improvement in processed tonnes. Our joint venture partner and mine operator, Hochschild Mining, reiterates production guidance of 66,000 to 74,000 GEOs for the year. Cash costs(4) and AISC per GEO(4) sold for San Jose were $1,445 and $1,953, respectively. We expect costs to remain approximately 15% above 2023 guidance due to additional capital development costs associated with the operator's revised mine plan.
Chart position, old resistance at 100, from May 2022, currently impeding up move. Lower Bollinger band has turned up, which signifies beginning of price retracement, probably ending within 3-4 days. Likely retracement, to region of 91-95, before resuming uptrend. If sp, can overcome resistance at 100, there ought to be nothing to stop achieving 153 target.
Https://www.jornalopcao.com.br/meio-ambiente/terras-raras-multinacional-vai-explorar-area-proxima-a-chapada-dos-veadeiros-546153/
01 November 2023 at 10h27
The area covers about 1,400 hectares, with potential for lateral expansion, in the northern region of Goiás
The multinational Aclara Resources has discovered a new heavy rare earth element (HREE) in Goiás, hosted in ionic clays in the "Carina Module". The area covers about 1,400 hectares, with potential for lateral expansion, in the region of Nova Roma, north of Goiás, near Chapada dos Veadeiros. Rare earths are present in more than two hundred and fifty known mineral species. However, only in some of these species do rare earths occur in sufficient concentration to justify their exploitation.
Aclara Resources, which has the Hochschild Mining group as one of its main shareholders, will invest around R$ 2 billion in the production of minerals on land in the municipality. The company, which has almost 100% of the works completed in the region, intends to start gold exploration in the first half of 2024.
"Aclara is seeking to introduce a new and sustainable way of extracting rare earths in Goiás, with a mission very similar to what was applied in Chile. In the first survey, the results were promising. We have very close water resources, electricity, excellent roads," explained the exploration manager, Jorge Frutuoso.
He further explained that the next goal is to collect a large-volume sample to do a larger-scale process test than is bench-top to verify feasibility and confirm the potential of the project as early as the first half of 2024. In the coming months, an estimate of resources will be made, a preliminary economic assessment will be developed and the last topic is piloting with the ore.
The initial drilling campaign, which took place between February and August this year, consisted of 1,693 meters of drilling, resulting in 238 onshore drillings. The company claims that its extraction process does not involve blasting, crushing or milling. In addition, it does not generate tailings, eliminating the need for a tailings storage facility. It uses 100% recycled water and minimizes water consumption through high levels of recirculation. "The ionic clay raw material is susceptible to leaching with fertilizer and no harmful radionuclides are produced," he stresses.
What are Rare Earths?
The main mineral species containing rare earths are monazite, bastnaesite, xenothyme, and rare earth-bearing clays adsorbed in ionic form. These clays, exploited only in China, and xenothyme are the main sources of heavy rare earths. Monazite and bastnaesite are also important sources of rare earths, especially mild ones.
Large deposits of bastnaesite are found in China and the United States. In Brazil, Australia, India, South Africa, Thailand, and Sri Lanka, rare earth elements occur in monazite and in sands with other heavy minerals. It is also important to highlight the occurrenc
Chart position - coil, price formation began February 2023. Fast moving sp, when breakout, forecast target price is 153. Current sp, today, requires to close above price pivot, at 100.8, to crystallize bullish pivot break.
Easy move to 130 from here and more. For who held and added, well done.
Hochschild Mining's prospects have improved after it got the green light to continue running a gold mine in Peru, Panmure Gordon says. The company's receipt of a delayed government environmental permit for the continued operation of its Inmaculada mine, outlined in August, will allow it to invest in the site, Panmure says. "We see potential for reduced operating costs, now that all capital-investment work on site can continue as planned," Panmure analysts say in a note. Panmure upgrades the South America-focused precious-metals miner to buy from hold and its price target to 121 pence from 109 pence. Shares rise 4.9% to 98 pence. (philip.waller@wsj.com)
Yes agree on not to sell just yet as this share tends to move big when it moves (in either direction).
It's taken almost a year and a half, but it's broken resistance at 96 and is now breaking out. Possible bull run ahead and helped by an improving gold price. That to is about to break out to all time highs, but resistance is strong and it has to cope with a strong US Dollar.
Our good friend Jeromey Powell is also between a rock and a hard place!
I’m looking for £1.50 as a first target - been accumulating in the high 70s
HOC's pulling like a train at the minute! RNS, saying Mara Rosa is complete could be imminent and this should put some petrol on fire... most important thing is not to sell before a re-rate but very tempting after such a long wait.
Gold at over 2k currently, expecting a strong performance from HOC tomorrow, 100 incoming?
Hi Stanley, if you compare the share prices of gold mines over the past year it is clear that HOC is performing much better than US shares, such as Sibanye. This is because US investors are buying into a stronger dollar rather than gold. However, this state of affairs will change dramatically if the US becomes embroiled in the ME. Hence Biden's visit to Israel today to try to prevent escalations and a weakening dollar imo.
Luckily, HOC does not operate in the ME and PM prices are slowly recovering. Hochschild needs to get Mara Rosa going on time (in Q1 2024). This combined with a reduction of borrowings and increased cash should put us firmly on the road to 150 and beyond.
Sorry for repeating myself.
The market is grossly under-estimating the inevitably deteriorating situation in the ME imo. The actions taken by Israel , regardless of how justified and surgical they may be, are bound to be followed by escalating reprisals on both sides and so on. This is all part of Iran's long-awaited strategy for the annihilation of Israel.
Thanks for those posts Noel. Iran is the culprit here. Its religious leaders are committed to removing Israelis from the geographical centre of what they perceive as a modern Islamic empire. They fund Hamas and the much more powerful Hizbollah. AndJoe Biden has just released billions of dollars to Iran, much of which will be spent on Iran possessing a nuclear capability. China may then seize the opportunity to attack Taiwan etc. Happy days all.
I wouldn't be happy making gain due to a war premium, but it is not ordinary people who start wars, so I would be happy if my investments save me from the economic consequences of the wars started by the evil rulers of the world. Here is a thought-out forecast -
"The Sword Of Damocles: An Economic Worst-Case Scenario For The Israeli-Palestine War"
https://www.zerohedge.com/geopolitical/sword-damocles-economic-worst-case-scenario-israeli-palestine-war
"Israel-Hamas War Latest: Israeli Troops Amass At Border As Iran Warns It Will Intervene If Ground Offensive Launched"
https://www.zerohedge.com/geopolitical/israel-hamas-war-latest-israeli-troops-amass-border-iran-warns-against-ground
Hi thornyone. You are right about world events being a reason to buy gold and that thought now makes me regret giving my post the heading of "Great day" on a day that saw great suffering and tragedy.
I had looked at the board and the surprise of seeing that no one had commented on the notable price movements knocked other thoughts, temporarily, from my mind.
I will get no joy from gains that are the result of a war premium.
To reply to your post Noel.
Hamas , Hizbollah. israel/US versus Iran. 3rd world war. Buy gold.
Healthy if support is found at 80, not 85. (last sentence)
Sorry, plots should read pivots.
Sp, broke above 2 bullish plots today. Also recent low coincides with long term bullish uptrend line from November 2022. The weekly chart shows bullish Japanese candlestick doji, high of 83.55, which HOC, requires to close above to give buy signal. The weekly doji, signifies positive accumulation. The short term down trend line from August 2023, reveals 85, as the level that price requires to close above, to resume uptrend. If sp, retreats for any reason, it would be healthy is support is found at 85 sp, level.
Gold and silver prices rocketing, HOC sp up by over 6% and no one comments?
That's a good sign, because it means the real interest hasn't yet started - and when it does - !!!!
Bloodbath again, all markets and commodities are down but we've been hit the hardest... so just topped up with a target of 95.