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…. and the board comes to life again. Well done those in profit. This was clearly under valued, as it the whole pm sector after being out of favour.
Technically HOC has a long way to go yet having just broke up out of a downward channel, and after hitting the bottom of another channel (upward channel), of which the top is around £4.
The war has obviously helped this, but as sotolo said, it’s more about stagflation, of which the sanctions placed by the west on Russia will hurt the west more than Russia, making stagflation an event that will last longer. Dollar currency has been dying for many years and gold will come back strong. If you believe 2060 is high for gold, you will be crying in a few years when you see the price it gets to. This is really just the beginning of golds come back, and not just gold. I wonder what sort of profits HOC will be churning out when gold is 10k+?

Sadly, the 48p support has been broken today. 12p is the stronger support level from where the sp had gapped up back in May 2020. There is though another support level, ableit not as strong as 12p, at approx. 32p. I would expect the sp to drop to this now.
The BOD buying last week was a good sign they believe the company will survive and create a good buying opportunity to make money. It's impossible to say though what level HYVE will drop to. I see no reason to buy HYVE at the moment, but I'm not sure I would sell at this price now. Maybe if you are in cash, buy around 32p but save some cash for a lower entry too.

Yep, 2000 is a strong mentally resistance level. Once broken it is looking to go to 2075-2100 level. At that level, HOC and other mining stocks will do very well, despite HOC's hedge in silver.

Yeah I like Chris too, but he does get it wrong at times. Let’s hope he doesn’t this time.

I wouldn’t worry about shg price atm. It will follow the price of gold eventually. The higher gold goes up the more money shg will make regardless of shg share price. Just load up In gold producers to diversify your gold holdings.

Gold is a funny stock to follow. It often followed indices on negative news then rises after. Currently the war is driving the price up. Currently it is hitting resistance, but if it breaks and it will likely do imo, then the gold price will quickly bounce up to 2000. Then there are other factors like the economy, affected by inflation and also the U.S. jobs report due out today. The markets are due a major crash after such a long run and being over bought for a long time. You could even argue that there will be a shortage of pm with the sanctions placed on Russia who hold a massive percentage of the worlds gold. Holding gold can easily be argued as a safe haven for a major crash and with the pm market been in a down turn for a long time it looks to be this sectors turn to sparkle. Patience is the key key here.

Not likely but why not email the company and ask.

That’s a good sign indeed.

I agree with that link to sprottmoney. I would be surprised if gold price now hovers between 1950 and 1900 for a while, setting up a nice base to move high a little later in the year. Currently the price is hitting the top of a daily trend channel and if it does go sideways for a bit then a cup and handle is also formed on a daily chart as well as the weekly.
Investors should not buy one day and expect the sp to magically go straight up. Look at it as a 2 year plus investment. The markets are due a crash and it’s really just a matter of when. So if they do crash and your in pm you should do very well.

It’s a little hard to explain but 12p would be where support was found after the covid crash and where it stopped for a while. Doesn’t necessarily mean it will go that low. You would be better googling support/resistance. A lot will depend on whether hyve has enough cash to get through this. Hyve bod have done a great job after covid keeping the company going and also from before that when it used to be ITE. There is a good chance they will survive this but they may need to raise cash again which would be detrimental to investors. Currently iis are seen to be removing positions in all companies with connections to Russia, so holding is a big risk now. Better to be out atm. You can always buy back in later on positive news.

Could be held back also, to let ii fill orders.

I would imagine there are quite a few investors under water in this company, that will be selling on break even. So there are going to be lots of ups and down days as it slowly rises, provided gold price remains high. Gold this year will do well imo but not without volatility.

Next major support is at 48p then its 12p. NAV is at 51p. A lot will depend on how well the company does in the rest of the world but without actually knowing the figures it is too hard to work out where the sp will drop too. I would guess 48p for sure. Beyond that is any ones guess. Will another rights issue be needed to raise cash?

It’s dropping because I just bought some more. Sorry.

Not looking good here for HYVE. The Russian side to it's business contributed about 50% of it's revenues and was the only segment to be profitable last year. I'm not so sure now, that buying in the low 70's would be a good idea any more, unless some how sanctions were lifted. I have great respect for the bod here and think they have done a great job in the past, but they have too much stake in Russia for my liking.

gla

16% might of been a good move.
Really can’t see why gold has returned to where it started the day but it’s given me another go at being long on gold again.

Hopefully we will see another tick up when the US markets open, sell their equity, then pile in safe haven pm, Gold.

Agree booboo. And with gold and pm miners being under valued for so long it would seem unwise to take profits early.

I thought the results were not bad at all. But as solo said it’s about next years results. Add in instability of Peru, a PE for next year of 10, which is high for the sector and you can see why the sp has dropped.
But I do see gold price and in fact most pm having a good year. I think gold will be around 2000 come the end of 2022 which should give HOC a nice lift.

Leaky leaky.