Member Info for 3bear

So if they sold their entire gold reserve today it would cover the US spending deficit for six months... paper money is in so much trouble.

Has anyone had their DPM shares credited to their account yet? I got the cash element on Sep 17 but nothing so far on the shares, just a left-over entry for Adriatic currently showing a 100% loss!

Good points Steve - I agree there's a good chance we'll see GBP tank after the budget and UK gilt yields rise. There's another factor - Clem Chambers says "Gold is for war" because when countries are at war "their paper can't be trusted". He thinks that with so much war about central banks are repatriating and increasing their reserves to shore up national security. On the downside, In the 1970s there was a sudden 50% crash in the GP due to an attempt by the Fed to raise interest rates to realistic levels. A lot of gold bugs got burned. But the Fed gave up and gold resumed its upward march. The result was a massive dollar devaluation between 1970-1980 by which time the USD lost around 75% of its purchasing power. It feels to me as if we're in similar times, that paper money is in trouble, so that if you sell Anglo and take paper money profits what can you do then to protect your returns?

Hi Sotolo - I really think Anglo are reaping the benefit of three years of heavy investment into Sukari by Horgan and Co which is now paying off big-time. As to Anglogold I'm not selling anything yet. We're certainly quite a way into a bull market but the big goldies' valuations still make sense to me. I'll be looking to sell when their market caps look expensive enough to be frightening. That's not happened so far.

There is a risk that the GP suddenly craters but for that to happen I think the wars in Ukraine and Gaza both have to stop, the US has to solve its public spending/debt crisis and the rest of the world's central banks have to decide US government debt is safer than bullion. I don't see any of those things happening let alone all of them, unfortunately.

Hi Sotolo yep schoolboy error. I chose sterling as the settlement currency and incurred a lot of unnecessary expense on the trade as a result. What I should have done is sold and bought back in USD which is certainly what I'll do if I try this again.

You'll all be glad to know that I just bought my 20% holding back at 56.3 making a net gain of 1.8% in a week. This was a dumb trade, the spread dealing on the NYSE in sterling is prohibitive and doing so close to the XD date was asking for trouble. I'm just glad to be back in. Won't be trying that again soon.

Well yesterday I sold 20% of my holding at 58 expecting a pull back and a buying opportunity over the next few days. So if we never see 57 again you'll have me to thank.

Ha Sotolo so you predicted £3 a share for Centamin and were given a bit of stick for it particularly when we touched 77p I seem to remember! Turns out you were never wrong - just early!

Anglo now hitting almost 20-year highs and for my old Centamin buddies we are talking 275 per share. It's as if we have moved into a parallel universe.

Agreed Marmot, Doropo really not big enough for Anglo. Looking forward to Q1 results...

Anglo have sold the Doropo and ABC projects in Cote D'Ivoire to Resolute for US175 million payable over the next 2 1/2 years. I wonder how much Centamin spent on buying and developing those two projects over the years. Doropo is pretty much ready to go with a DFS already complete but seems it's just a distraction to Anglo....

https://www.citybiz.co/article/688837/anglogold-ashanti-agrees-sale-of-cote-divoire-projects/

Hi Paul they're out May 9. Gawd knows what Trumps tariffs will have done to global stockmarkets by then.

Q1 production last couple of years was 570-580koz so with Sukari added this time Q1 should be knocking on the door of 700koz at an average price close to 2900$/oz. If that's correct then Q1 revenue will be around US2billion. Not too shabby.

Hi Razors - and it's still going 3086 now....wow

Good post mhenderson - glad to know you're still with us

Teac I'm going to hang on at least until May 9 as Centamin production will be fully included in their Q1 numbers for the first time and I cannot wait to see the effect of 3000 dollar gold on Anglo's free cash flow. It should be, to quote Nessa from Gavin and Stacey, "immense". Having said that, it could be that the current price reflects that expectation. Difficult call.

THAR SHE BLOWS!

The Friday afternoon tank in the SP is back - just like old times... let's hope it picks up again on next week's results.

Ditto that Sotolo - good to hear from you Razors

Fwiw I sold 10 per cent of my holding yesterday at a cey equivalent of 185p. Just had to take a bit of profit in case the Q4 results disappoint in some way. Gross revenue is going to be through the roof, let's hope all the other numbers are tickety boo.