Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Last week's drop was an overreaction to the workmanlike but uninspiring RNS.
Meanwhile gold is at $2011 again and more central banks pile into gold: Singapore adds 17.3 tonnes to its reserves in March
https://www.kitco.com/news/2023-05-02/More-central-banks-pile-into-gold-Singapore-adds-17-3-tonnes-to-its-reserves-in-March.html?sitetype=fullsite
From the last update DB.
"Fully repaying our senior debt is also a highly significant milestone. The continuing strengthening of the Company's balance sheet will enable it to invest further in its exploration plans and to look at appropriate acquisition opportunities; delivering its stated strategy and value to all its shareholders."
Gold-based drugs proving effective in treating deadly ‘superbugs'
https://www.kitco.com/news/2023-04-10/Gold-based-drugs-proving-effective-in-treating-deadly-superbugs.html?sitetype=fullsite
Correct me if I am wrong but I suspect Zak’s estimate of 2.6p for month end is the same figure that he floated a month or two ago. Perhaps he works on the theory that 2.6p will be reached eventually and that therefore he will be proved right to the all believing twitterati?
Those of us who religiously follow MTL like we do a football team or the price of a pint of beer will know the truth and that Zak is some way off.
The Gold Price is now supported around $2,000 and gold futures for June are near $2020+
Inflation in the UK and elsewhere in Europe is not at the 10.1% offered to Senior Citizens to placate their wish to pass on money to children and to buy essentials but is closer to 30% for food alone. The desire from Joe Public to achieve parity with the real cost of inflation will not go away hence the POG and the search for a hedge to inflation better than a High St bank.
Last week MTL’s SP reached 2.0p quite easily on the back of many substantial daily buys and not many sells.
MTL is now on the radar of many new interested individuals and others.
The First Quarter MTL Results 2023 are due on April 21 or April 28.
The results will show a major reduction in company debt and a major increase in gold production.
MTL has achieved 2.6p on much worse figures that those we will see before the end of April.
This is a serious buy. And I ain’t selling.
As we look forward to the update, can anyone shed any light upon the below? A bullet point on the MTL website.
“Metals Exploration’s focus at Runruno is the continued development of gold and molybdenum resources. Although there has been a substantial amount of previous exploration in the area, none have capitalised on the presence of molybdenum.”
"The solid breakout that moved gold futures above $2000 to a high of $2043 yesterday, and $2049.20 today indicates a new level of support well above $2000 per ounce.
Currently, the most active June 2023 futures contract is fixed at $2037.10 a net decline of $1.1 or 0.05%. The fact that gold did not immediately sell off as it has in the past after hitting the highest price since gold hit $2077 last year indicates strong bullish market sentiment that continues to drive gold higher and more importantly hold those recent high prices."
Kitco
As usual it's overreaction followed by the herd mentality. We are out of the scamdemic and the SVB/Credit Suisse scare. Holidays are the 2023 must have and the over 50s have spare cash and eager to spend it before the kids claim their inheritance.
I’m slowly buying back in to BDEV. In a couple of years or maybe as soon as the end of 2023 this will be seen as a bargain. The share buy backs are preserving the price, there’s a decent divi that will be back to normal in 2024 plus the chance of a special divi for those who, stood by the company. I don’t buy into doom and gloom where property and the desire to own your own is concerned. DYOR.