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I might be too but i would like to see a management shakeout first, PR is dire, oh my word.
Thank you Trek and Dartron
Looking at a 50% fib retrace to 87p! I don’t think we’ll see that though. We may stick around here for a while whilst the 50 kisses the 200 DMA. The RSI is extremely oversold at 29.5.
But like said the low will likely be intra day. You won’t catch it with an order you’ll need to be lucky.
For perspective I thought 110 would be the bottom and was wrong but all logic says we are near there and the sooner news lands the sooner we can start moving again as this imo is silly cheap.
Buying the bounce is not a bad shout. That could be a lift back above 110.
You have to just accept the charts for what they are in the absence of news. Longer term is bullish though.
Trek
No one can call the bottom, and when it occurs the low might only be on offer for 5 minutes.
103 might be the low on the daily chart, but the 5 minute might show 98p for example. In any case, it wont matter when this is back to £1.50, we will all be able to say we bought in at the bottom. (relative).
I have bought twice so far, my next buy will be once the SP has started rising and this is confirmed on the daily chart. Otherwise you risk trapping money in here and then you have lost opportunity cost here for guessing the bottom.
Hi Trek,
You mentioned there is a support at 103. What are the silly lows you mean if the support line is broken? I am invested here have topped up several times since the first pour. Just want to know what silly lows your are referring to and then exercise critical thinking before timing my next top up:)! Thank you
Added again today. Gold up strongly, covid stimulus signed off, US hoping inflation will eradicate debt. Interest rates on 10yrs are a concern but if inflation picks up even that will vapourise!
And yet this hyper efficient mine that is about to commercially pour and extend its resources is at recent lows.
I guess the way you make money is by doing the math and buying the lows as long as you can wait. Technically there is a hemline support at 103. If that goes then it’s silly lows. We may or may not dip below the psychological £1 but I think with news soon this has to be the bottom.
I guess if we say it often enough we’ll be right eventually!
So now we know why the directors sold some - they are expert TA guys! Lol!
Trek
Look at latest CP.
Current gold price $1734/oz
Current mining cost $787/oz at 9.0g/t and we are about to drill ultra high-grade 8 Zone.
For all those concern about gold price, please do simple math and start wondering how the company is going to spend all these millions of profit.
STOCKANSWER.
Thank you for the info.
It's a very complicated world we live in.
Though it very hard to see how this relates to gold.
Rising treasury yields
Why is the gold price falling?
The algos have been programmed by idiots.
With the buckets of QE circulating in the world, gold should be hitting $3,000 an ounce mark.
I had sold out but bought back at 1.07. Been a trend across gold we have mirrored GGP.
Managed to get a few extra shares.
The TSX - AIM arbitrage has to close at least a bit at some point.
We may now just be turning having bounced off 1:04, but then I would say that.
Trek
Inflation concerns rising...can't believe I'm still underwater here
They like news on Tuesdays so holding thumbs, I picked up a few thousand more.
Closing shorts is normally a good sign, those core shack guys can hardly keep their traps shut lol !
Shorts decreased in Canada. Will they let us run? We deserve it.
I thought bigger was better?
And mine but only because its the biggest
This is by far my worst performing share in my portfolio.