RE: POG Action28 Nov 2021 12:39
Afternoon.
Yes, don't get me wrong re the Gold price or the SP here in the short-term - I'm talking about pretty insignificant moves in the scheme of things but would of course love them to drop the SP here so I can buy more at mid teens.
Re Basel III timelines and implementation - it's already happened everywhere else, London are squirming as you would expect as they have the most to lose whilst banks all over the World are filling their boots though we won't of course here of London or the US making big buys for obvious reasons - Singapore is a bigtime wink as to what's coming though.
In these circumstances, I don't expect Gold to fly due to the LBMA/CRIMEX paper dumping stranglehold, hence my 2022 H2 timeline for some real action, but it will also underpin the Gold price at around current levels, give or take 30 bucks or so.
We'll see a rounded bottom forming and likely some pre-boom attacks on $1,900s again as the buying pressure becomes too much to keep the price down giving us a rising floor against a horizontal resistance - bullish.
When the LBMA/CRIMEX decide to let it fly is unknowable but again, I've got a 12 month timeline going by the Gold chart which may, per chance, fit very nicely with the LBMA's January 2023 date.
The reason I like HUM so much is because they're very profitable at the current Gold price, they've paid all the bills to grow (+200%!) and derisk the company via three mines in different jurisdictions, extended the LoM of the Yanfolila cashcow having paid that loan off, have got the loan for Kouroussa sorted and will formalise the true value of the Dugbe monster in six or so months time via the DFS.
Only Dugbe funding is the unknown here, other than the precise Gold price but that's not really a conversation for another 12 months - also nice timing IMO as we could/should see a nice cash build from here, especially if the Gold price does indeed spend some time at $1,900s in the interim period rather than $1,700s.
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