Member Info for bonker99

Newmont buys out Minas Buenaventura (Peru) at the Yanacocha gold mine for $300M + up to $100M

Take it or leave it peeps but the FinTwit vibe for Gold/miners is starting to pick up some traction - some are pivoting from oil already.

LOL @ Cannacord - you clowns :)

Well as Dan Betts said in the presentation/Q&A the other day we have optionality which is always nice - Kouroussa providing much of the money needed to fund Dugbe to production would of course be ideal but someone dropping £100m/+25p into our laps overnight would also be nice - anything can happen after April :)

Lots and lots of M&A going on in the Gold space right now as you would expect, Russians/Chinese may well get involved - we had a Russian buying a ton of MKA ahead of that doing a placing at 10x the bottom SP print a year before - you just never know.

Time will tell but if you saw the tweet I linked to the other day showing that Turkey are in third place, only behind China and Russia, in buying Gold in recent years then it's easy to imagine that they'll simply buy it to secure the Gold at half the price they'll pay at spot.

Morning.

@kkkrrr - I think it more likely than not that Dugbe will be sold and the starting price for that at $1,800 Gold is £200m/net 25p to HUM

@juxta - the elephant in the room is why we're here

I quite enjoy the bashing crew's nonsense :)

Looks like $1,750 or $1,875 following Thursday's CPI print peeps.

Chunky.

None of us know what the short-term future holds but the tie-breaker for me is that they've pummeled Gold miner share prices to lows not see for a long time - that's about as bullish as it gets.

The only ingredient "missing" for a gold push is for money to come out of oil and a bit of a fright in the markets.

Oil could be topping right now IMO, or may put another $15 on but then I think it's done - they won't be able to get away with it for much longer - it's done enough to ensure high inflation for the rest of the year, that's all they need it to do - then they'll pivot to Gold IMO.

Re Basel3/NSFR/Gold - the deadline for banks registering/proving their physical Gold holdings is the 31st of March so anything could happen after that as you can't play the paper dumping game anymore unless you're holding 85% of the physical to back it up.

The latest random US CPI number is out on Thursday - let's see what happens, the amount of bending they did to the last "jobs" number was quite something, right up there with Amazon's "revenue" report the other day - if they're cheating that badly then I suspect something is likely to drop soon.

Sorry apr - just early vibes from FinTwit :)

Nothing to back it up yet other than a guy saying there were some huge puts going in on the 10-year late on Friday (i.e. they're betting that yields are going to explode).

If the 10-year beats c2.4% then watch out - that will likely guarantee that markets fall to pieces and give The Fed all the excuse it needs to pull away from raising rates and to hit the BBBBBBBBRRRRRRR printer once more.

I don't know if you have seen my comparison tweet re how Gold tracked the 10-year all the way up to 10% during the 1970s inflationary period whilst Gold 20x bagged:

https://twitter.com/bonker_99/status/1489625251289968650?s=20&t=DUOutjxI4Bt1eCkVgJv4Ww

So, in short, whatever happens with rates, I expect it to be bullish for Gold as it's a real trap.

More interesting stuff kicking off on FinTwit last night.

Biden just bent over for Iran (China?) then this:

NEW GOLD-BASED STABLECOIN BY JAPANESE TRADING GIANT MITSUI IS BEING DEVELOPED - Mitsui are an XRP/Ripple partner.

Some talk of the US bond market imploding next week - that'll be interesting.

Our share of Dugbe post-DFS will be worth c£100m at $1,800 Gold - trust me.

Interesting times guys, interesting times ...

Gold flatly refusing to go below $1,800, on a proper bounce again now - remember when a "jobs" number like that would have knocked $200 off back in the day? It barely managed -$20 before boinging back again.

"Not seasonally adjusted Jan payrolls: -2.824 million

The entire "growth" in January jobs is due to arbitrary seasonal and covid adjustments"

Lordy ...

"The BLS removed about 1 million of job growth from last summer and spread it out over the rest of the year in revisions. Macro tourists and the Fed are gonna fall for it"

Amazon accounting for jobs now - man, they must be in real trouble if this is the level of BS they're at now.

Nobody believes that number lol - November revised +400k too pmsl

US January non-farm payrolls +467K vs +150K expected