The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
It looks to me like ii clearing out final sells. The bod buy could well of been made to scope up most of what was left to sell by the ii. Yesterdays trades indicted more buys than sells suggesting there was still more for the ii to get rid off. Whether it’s all done now or not who knows but I’d imagine a good rise when it is completed. Good move by RDH knowing he could help clear the sale by buying at or near the bottom. Ofc, only time will tell.
Some bloody big buys gone through today. Defiantly holding it down for someone to load up.
Well the break through of resistance and breaking out of the downward channel in gold was the buy signal for me to add a couple more grand. I think it has been kept low partially because the interims were lower than expected and the market wants to see proof of SHG becoming a 100,000 oz producer. As long as it does happen, I'm happy for it to be a low price now.
Nothing seems to be priced in. The spread is very little being just 0.15. 12.0 to sell and 12.15 to buy. So many of those recent large trades are buys and just a few sells. If gold fails to break that 1830-35 resistance SHG may drop to 11p again. Maybe we will see a few days of consolidation in the gold price. If it does break, surely they can not hold SHG down.
Looks like a breakout of the top of a downward trend channel is happening for gold as well as testing the 1830 resistance. If it’s up tomorrow I think I’ll buy more SHG as the price has been suppressed.
I actually think the housing market will crash too. It certainly has had a good run recently. I think the tipping point will be a rise in interest and that is only a matter of time. The US and the UK may deny rising rates as there are obvious other economic factors to consider, but they will not be able to hold it back forever. I see Poland have already increased interest rates and not by the standard 0.25% but a 0.75%.
I have bought here a small amount under £900 just to keep an eye on it more. I'm looking to start adding to it if it drops to around £1.10 and lower.
This is worth a watch.
https://www.youtube.com/watch?v=Zg7uDuSrE1A
I too have bought in here recently, just £6k though. A possible TO target, but if not then still not a bad company to hold as it is looking cheap with a PE of just 11.7.
Bubba- could you explain your 700p intrinsic value?
dogstar- the report came out this morning.
This is part of what Tamesis Partners wrote reiterating their 30p tp.
“ Shanta Closer to Becoming a Mid-Tier East African Gold Producer
Singida is a low cost simple open pit operation with considerable upside to the production range and longevity. The project’s key points:
• High Returns – This is a low cost (capex $37m, AISC $930/oz) project with a reserve-based NPV8 of US$82m at $1800/oz and an IRR of 46%
• Low Risk - The internally-funded construction timetable of 24 months is quick and the mine is planned to be producing 35koz by Q1 2023 taking group production up to c.110,000oz pa.
• Disproportionate Upside - The 243koz of reserves grading 3g/t, around which the open pit is based, are only 120m deep. There is a further 664koz grading 2.11g/t of measured, indicated and inferred resource on the property with a strike length of 4. 9km and known mineralisation down to 500m.
• Adding to Shanta’s reputation in Tanzania – The construction and operation of this mine should bring about a major improvement in the socio-economic environment of the Ikungi community in Central Tanzania.”
Well done nutmegmilk on your profit here. I would suggest when you have winners you don’t sell all. Maybe deleverage by removing your initial stake then let the rest run. It is always a good idea to run your winners which then will turn an average year into a good year. Get the book called The art of execution. It’s a quick read but worth reading.
Yeah this is my largest holding too. I can't complain about a 73% increase for me here for 2 and a half years hold with most of it bought within the last year at an average of 81p. Yep happy for £1.49.