Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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@glenfidrich - have you seen any of the analysis from northstarbadcharts? They seem to produce good analysis but also brought my attention to how (in the past) when gold has gone on a bull run, silver lags but then eclipses the gold bull run.
Quite interesting, and given everything is pointing to gold just about starting it’s big move… then if it happens silver will subsequently move (later and more powerfully). Which could be useful to anticipate.
All the best
Silver catching a bid today (up nearly 3% in GBP terms). Also, the BRICS summit (22nd-24th) may throw up some surprises? In addition, the bond market imploding should be good for gold? Probably other reasons, too.
It's very likely owing to their dividend (but only 1.85p approx) going ex 1st Sept, however I was well pleased to sell out at 87p. Need some money to re-invest, so the sooner the better. Good Luck though to holders.
Bonkers no idea what's going on. It is the Jackson hole meeting full of holes. I am not complaining it is so high up just pleasantly surprised
WFT is going on here ???? Mother fer goes up to 91 when update and then drops twice to 80p now 10% up !!!
It's BRICS day.
What is the reason for the big jump today folks? TIA.
It was.
Big day/week for PMs now chaps ...
Bollinger bands on both the weekly and daily timeframes , show the top Bollinger band at 90.45. The top band is going sideways ,so a reasonable price target is 90.45. Bottom Bollinger band is rising , which is supportive of the sp,rising to the target.
Then as if by magic.. just about evens
Letting the big boys in?
Silver is down nearly 10% in a month increasing the losses on mining it by around 30%. Partly explains the large 15% tumble in a couple of weeks in our share price. Luckily a third of our silver is hedged at around $26, from memory. Dark, I don't really trust the likes of Zerohedge when they say silver is the wrong price, it is the price where buyers and sellers equal out, many are worried about lower investment demand and China economic fallout. However what the market fails to realise is that Hoc is increasingly a gold producer with a smaller and smaller amount of silver. As Tornado suggests, the gold hedge seems to have been done at the right time tho from memory it doesn't come into effect till next year. Hoc may not be good at mining but they seem excellent at reading the tops of the market to buy their hedges - which of course have been very necessary as, even with the hedge, Pallancata is making hefty losses on each ounce of silver mined, and we have a lot of cash to find and interest to pay while developing Maria Rosa till it starts mining next year.
Yep. And silver is holding up nicely. Bit of a head scratcher the last few days.
25% of gold production hedged well over $2,000 an ounce is like half the production at $1900 if gold went to $1800.
Folks, I'm a bit of noob when it comes to PM mining, can you help me?
What production numbers should we be expecting in 2024? I should imagine many factors go into production rates, the below are based on current year production extrapolated for full year. Do they seem reasonable numbers?
Inmaculada, Gold: 124k oz Silver: 5,146k oz
San Jose, (51% so taken half of production) Gold: 35k oz Silver: 1,941k oz
Mara Rosa, Gold 80k oz
I also believe CPM group have 2024 forecasts of around $2300 oz for gold and $35 oz for silver. They have a fairly decent long term record in forecasting PM prices. Thoughts on the likelihood of these prices or alternative price predictions for 2024 would be appreciated.
On the above sets of assumptions along with only modest cost increases (again thoughts on this appreciated) I'm estimating pre tax profits of $240m.
Last couple of questions, if were to see substantial prices rises in silver would the veins of 22-23 in Pallancata be reopened? im aware of the newer veins at the site they are hoping to mine in the coming years.
How much weight can we put behind the Volcan Gold report? I had a quick glance and the numbers look great I understand its size its a stretch for hoch, but if their numbers are to be believed its surely worth a fair amount even if hoch was to sell a majority stake in it. HOC seemed to only be traded down on the news which I can't make sense of.
I am I right in thinking the effective tax rate in Peru is like 45% for miners?
Any feedback appreciated, thanks.
"Silver Price Inexcusably Low Given The Market Dynamics"
https://www.zerohedge.com/political/silver-price-inexcusably-low-given-market-dynamics
Back over a £1 imminently
15:39:38 196.40 24,999 49.10k
price indication at 196.40 lol
I don’t think this is the bottom, more like 15% below the bottom… and 200p+ when Mara Rosa starts churning out the gold next year.
Potential here should ensure that the bottom is in the SP - short of a crash in Gold and markets
The updated Mineral Resource Estimate and PEA confirm that Volcan is a large resource capable of generating significant annual gold production with substantial margins at today's gold prices. Furthermore, Tiernan is now fully funded independently to carry out the next phases of project de-risking and, with gold prices remaining strong, we believe there is significant value in this project.
Not really my bag anymore (mining ⛏️). But this is looking good for a step up. Couple of great RNS without the rise I expect so reckon I will jump on for the ride😎
You know how she goes when she goes ...
I’m very happy to add at these levels.
Hochschild Mining's estimated fair value is UK£1.27 based on 2 Stage Free Cash Flow to Equity ...
https://simplywall.st/stocks/gb/materials/lse-hoc/hochschild-mining-shares/news/hochschild-mining-plcs-lonhoc-intrinsic-value-is-potentially-1