We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
That drop to 24p reminds me of many instances this has occurred in the Gold and Silver markets. Often blamed on fat fingers or algo's going awry but invariably the market then heads that way to test weak hands and to see where the support is. Anyway, thanks Mr Market, picked up a few more at lower levels:)
Wouldn’t listen to me I have been locked in here for two years and don’t know what I am doing from one minute to the next.
Webbs what are you on? Yesterday you predicted 50p, told us you weren't top slicing as you'd been caught out before, then said people would have been mad not to have top sliced. Read your own history as your memory is clearly non existent , utter drivel .
Great post that one KingArthur, really nice way of summing up the situation. I would not rule out NM potentially buying out Agnico if the resource is a huge one.
My chart was showing a drop to 24p then vertical back up after your stoploss People.
Perfectly put KingArthur. I'm certainly holding long on these shares. A wobble here and there possibly, and that's why I do not have stop-losses on my best investments. GLA.
And I totally agree with you mrdigit .
I'll second that
great post King, very informative
Great post
Sums it up well
Think we shook out all the weak today
There's good reasons for Newmont doing what they did.
Here's some facts:
1. They currently have 13 projects on the go and 3 of those are joint ventures. There are currently 3 projects in total in South America as well as 3 operational assets.
2. They have 12 current operational assets worldwide and if you look at how old some of those are you might realise perhaps that some of them don't have long left in production.
3. Agnico is on the door step to Anza. So ask yourself this, why would Newmont wait nearly 2 years before gaining any traction on this? No doubt purely because they didn’t have the resources to put on the ground and get the ball rolling.
Given the amount of cash flowing through Newmont I hardly think you can use the word "de-risking". If anything this was an operational strategic move to get this project flying since they were lacking their own resources to take it forward.
Yanacocha in Peru was Newmont’s largest and most profitable mine. That was also a joint venture with them taking a 51% slice. By 2011 they had made a return of $7 Billion with around $2 Billion invested. Since 2005 gold production has decreased year on year from 3.3 million ounces in 2005 to 0.97 million ounces in 2014. If you start digging around the other mine production year on year figures you’ll soon realise that the worlds no 1 miner needs to push every project as hard as possible to remain the no 1.
In conclusion, given the costs involved and the initial investment for exploration and building mine infrastructure, it makes complete sense to spread the financing costs given how enormous they may become. The word “de-risk” doesn’t fit into the vocabulary here – joint ventures have been an important part of the mining industry for decades and have remained instrumental in the development of many major projects.
Forget all your charts and daily price predictions. For all the current and prospective long term holders – be confident. There’s decent historic drilling results along with geologists satellite imaging technology. These guys know what they’re doing and have enough current data to feel confident to spend millions on drilling and exploration. Not to mention all the gold being pulled out of the ground to the north and south of Anza.
"NEWMONT gave AWAY 37% of the jv. They gave it away. De- risking. Watch out."
Newmont, the number one in the world, continue their commitments to OMI to then right away de-risk by bringing another major company in who have the experts who know the area and have the troops ready go....because come to think of it, oh dear i don't think we have a sizeable find there after all
munchbox, you're a class act
Great , thought we'd lost this luncheon meat troll.
Easily in the cards here.
Should have kept my short open.
Just shows I was on the right path.
This has been pumped up too much. Big boys selling up.
NEWMONT gave AWAY 37% of the jv. They gave it away. De- risking. Watch out.
Hope you guys don’t get burnt too bad if the grades don’t match up to the hype