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I think he means the grit bins. Would explain a lot to be fair.

You may recall gold got smashed when the Iran war first started.

Now, hostilities are fully resumed and gold hasn’t blinked. I’m not a macro expert and find the game of 4D chess that the likes of hedgeye play very difficult to comprehend, but it does feel like something has changed in the gold narrative these last couple of days. Real, genuine support has been found in this region. And in that sense, perhaps gold is genuinely starting to rediscover its safe haven status.

Another former Northern Star man joining the ranks. We are getting the old band back together for NST mark 2!

Really appreciate your response Element.

I guess it’s one of those hunker down years as the good stuff comes online. A repeat of guidance would be good in this situation. Lots of foundations getting laid.

Element what do you think the guidance will be for next year? Do you reckon with some grade control and the stripping work, there could potentially be a route to 400k ounces? Or is that pushing it? Thanks

Monty. The annals of history would disagree with you here.

The current funny money fiat we have now represents an aberration in in the financial grand narrative, and we are yet to see an unbacked fiat currency that hasn’t blown up eventually via the usual route (hyperinflation).

Sure is anomalous. If there’s enough money in the markets to move evolution and northern star close to 10% and the likes of genesis 16%, what is going on with GGP. Games games games!

3.5 million shares traded. Gold piled on 100 bucks in a couple days

+0.67%

Suuuuuuuuure! Nothing to see here boys, move along!

The false channel we find ourselves in now is strongly reminiscent of the Macquarie chicanery almost a year ago now. We’ve been walked down from 650p to now when the gold price is literally identical then and now…oh and that’s since a massive upgrade to resource at telfer and news blackrock are still going 😂 make it make sense!

The game is crooked. But you are free to play.

I was a buyer at 240 (even breaking that most golden of rules and taking on some debt to add to my exposure) and I am a buyer now.

The financial laws of physics will do their work eventually.

I’ve actually come to enjoy moon’s posts 😂

Great post TMT. I think we are close to capitulation in both the gold space and here. Then the rebound will be swift in my view. I know people want nice steady price action but folks need to prepare for volatility. Once the bull gets going it’s going to be like nothing seen before. The sell offs have been brutal so if the bull is the real deal, expect the reversal to be just as spectacular.

By the next quarter it won’t be beyond the realms of possibility that 25% of our market cap will be in cold hard cash if this continues. Our P/E continues to compress in spite of the gold price dipping. Very little value being ascribed to our forward prospects. Gravity will out eventually and the market will reappraise GGP as one of the premier high torque gold plays.

Fascinating RNS - so it’s the west dome open pit doing the heavy lifting in the updated reserves. An important aspect of the drilling programme but it’s what this RNS leaves out that’s fascinating.

The best is definitely yet to come. Nothing mentioned on the WDU (I suspect they want to unveil this in all its glory once all the drills come back) and the assumptions on gold price are very conservative. It’s being hinted that there is much, much more viable ore at these elevated prices, though rightly not included for the sake of conservatism.

Superb post Speedy.

Hello all,

Hopefully some sanity returns to the board this weekend. What are people’s thoughts on the next MRE? Do we come close to that amazing 4.8moz update, which surpassed all expectations last time around, even go past it?!

I’m surprised the miners aren’t bouncing hard based on the oil price. It’s been used as a stick to beat the sector down often enough.

That said. Puny volumes today so sellers have exhausted themselves.

Some of you are trying to play macro 4D chess here.

It’s really this simple: are you long the US dollar, long the debt pile, long the AI bubble?

If the answer to any of those questions is no, you need to be in gold.

Kent it’s not for me to suggest how you spend your hard earned but you sound overexposed here IMO. Investing ain’t easy but it should at least be enjoyable. When the fun stops etc.

There’s more to life than finding Eeyore esque doom and gloom round every corner.

Good to see you posting again E1.

It’s a fake out.

Unless rates in the US head to circa 8%, then it’s all just noise and window dressing to try and salvage credibility for the dollar. What else is he meant to do?

Meanwhile real rates running close to 10%. Rates held is effectively a cut.

Fiddling while Rome burns.

And yet there are suckers out there selling gold. Good luck to them!

Something is brewing. The price just keeps advancing yet gold hasn’t really budged.