Member Info for BuggerTheBanks

Quoth, you must be looking at futures: spot didn't even break $19.40.

So, what price do AU & AG need to be at to push us to £20?

The FRES & SHG boards are awash with comments, & whilst both have done very well over the last 12 months, it is good ol' Caledonia that is the star performer, and yet things are quiet here.

Am I the only one expecting another dividend hike before the year is out?

Tornadotony, it's always good to walk away from the table with money in your pocket: well done, & good luck with your future investments. However, I believe gold is going to £4,000 p/oz & silver to £135 p/oz (& yes: that's £s & not $s), so I'm here for the long-term.

I do also believe, however, that we will get another March-style sell-off when the market ****s the bed (which could be as early as this month if the US fail to extend their PPP), so you may well get a chance to buy back in at a discount. I've kept some powder dry myself & will certainly be doubling down here (& at CMCL, GPM, SHG & PUR) if the opportunity presents itself.

Stay prosperous.

FRES is getting a little bashful as it flirts with £10, but it will come.

Remember: the US Payroll Protection Program ends this month. That either means a deluge of bad news which will collapse markets (& probably present another short-term buying opportunity in PMs & miners), or they have to announce more "stimulus", which will immediately push us (& metals) higher.

PMs & miners really are in a virtuous circle ATM. Keep some powder dry to BTFD, but this, & the wider sector, is going MAGNITUDES higher.

GLA (as always).

It fancies £10. It does....I can feel it. Go on, FRES, lad! Give it all you've got.

Sitting on a 40%+ profit in 9 months on FRES, & yet it's still my worst performing mining stock. That says a lot about the PM mining sector performance over the last year or so.

JMAX, indeed....but we are heading there nonetheless.

Colonel, I think the problem (if we can call it that) is that none of the mainstream financial channels advocate buying PMs or mining stocks. They don't even talk about it. It's like the entire asset class doesn't exist!

"Buy Amazon. Buy FaceBook. Buy Apple. Buy Tesla". Even, "Buy oil: it's due a recovery", but it's never "Buy gold. Buy gold miners". Gold has been THE BEST performing asset of any class since the turn of the millennium, but it's NEVER recommended by the MSM. Whilst individual stock performance will vary, everyone here will appreciate the great run that (most) mining stocks have had over the last 12-18 months. Despite the dearth of support for the sector across the MSM, I believe we are only just getting started here. GDX at 400? 500? We shall see...

I'm a contrarian by nature & I know it can be hard sometimes: to be the lone voice.....to go against the herd.....to doubt your own convictions when EVERYONE else is telling you that you're not only wrong, but you're crazy. Well, as a gold holder (average £955 p/oz), silver holder (average £12.12 p/oz) & mining sector investor since late last year, I'm very happy to say that I've backed my instincts & indeed have since gone "knackers-deep" into the PM sector. Unfortunately, very few people want to know & refuse to contemplate that nagging doubt within them that won't quite go away, no matter how much MSM TV they watch.

I find this forum very informative & it's good to find like-minded individuals who see things the same way. I think most people here are here for the same reason: they see the system is collapsing & they sense the opportunity. I believe what's coming is apocalyptic & I believe it is planned (although that's not a discussion for this forum).

Fiat currency will do what it always does: go to zero. All you have to do is take a look around at the world today & there can be little doubt we are now in the advanced stages of that. That's why narrative control is so important right now. This will be the greatest wealth transfer in human history. Those here are (I believe) in the best position to make sure that that wealth transfer works in their favour, & not against them. Eventually, the masses will catch-on & pile-in. We could all be sitting on 10-baggers before that happens, though.

GLA.

I'm in for the long-term, too. This was my first venture into the PM mining sector (@£6.60 last October) & am holding all the way.

Gold rose 450% from 2006-2011. Think it won't do it again? It will.

What's FRES worth with gold at $4500 & silver at $160?

Colonel,

I agree with you except for one thing, & if I'm right, it's good news for all here. I don't ever see gold going back to $1300 p/oz. Or even $1500 p/oz for that matter. You're right: gold traded in a very tight trading range from mid 2016 - mid 2019, & even before that, it was very aggressively capped at $1350, having made multiple attempts to break this level & failed.

As we all know, we finally broke-out of that trading range last year. What fundamentally changes the dynamics now (IMHO) is the unprecedented level of money printing (read "debt creation", as all global currencies are debt-based) that is being undertaken around the world. Even if the virus disappears tomorrow (which it won't), the trillions upon trillions of newly-created debt is here to stay. Indeed: I believe it's only just getting started, & global governments will borrow, & central banks will print, MAGNITUDES MORE.

My personal target for gold is £4000 p/oz (& yes: that's £s & not $s) & £135 p/oz for silver. Whilst that seems crazy ATM, there is actually historical precedent for percentage moves of that scale; we just need to look at what happened during the last financial crisis (when gold rose 450% from 2006 to 2011). The only reason gold pulled-back from its $1920 (2011) peak was because central banks around the world were able to convince everyone that they would unwind QE. There is no way people are going to buy that this time around.

For now, the market is distracted & continues to gorge itself on the torrent of new money that is being pumped into the "economy", but reality, when it dawns, will be harsh & quick. The average investment portfolio ATM has just 1% invested in PMs or PM-related assets. The long-term average is 4%. At the height of the GFC, that rose to 7%. Even if we just return to the long-term average, there is potentially a mountain of money that will be looking for a home in gold, silver, etc.

I defer to your knowledge of Shanta & am very grateful (as are others, I'm sure) for your insightful posts, without which, it's true to say, I would not have invested here. I'm VERY happy to be onboard here (at 12p) & believe the future is very bright. Just keeping some powder dry should we get another March-style pull-back (which I fully expect).

GLA.

& $19 (spot).

& $19 (spot).

& $19 (spot).

From 2005 to (its peak in) 2011, gold rose some 450%: from around £220 p/oz to well over £1,100 p/oz.

From mid 2016 - mid 2019, gold was held in a fairly tight trading range (£900 - £1,000 p/oz). If we assume that as the baseline, a forward looking gold price in the region of £4K - £5K no longer seems so fanciful: there is already historical precedent for a (%) rise of that magnitude.

Now....ask yourself: is the world a better place today than it was 10 years ago? Are economies stronger? Is the consumer better positioned to weather a down-turn? Is there more of less debt in the world? Add in the Corona Virus. Wait until the bankruptcies start. Wait until the bank failures start (again).

This is all inevitable. All it takes is some objective assessment of the state of the world today. You don't even need to throw in another black swan event. Everything that's needed for global economic catastrophe is already in place.

Gold is a snip at anything less than £4K p/oz. Likewise silver at £135 p/oz.

"Eventually, all paper money returns to its intrinsic value: zero"
Voltaire

The "eventually" he speaks of, is now.

And gold now at $1,802. Well...I thought they'd make a bigger show of defending the psychologically important $1,800 line. I'm sure it'll get whacked at some point (it always does) but it's through it & that is (psychologically) significant.

Currency debasement around the world will continue unabated. Whilst there will be volatility (& I expect we'll see another March-like pullback at some point) this is only going one way. Keep some powder dry to BTFD, but this is going to be fun. And profitable!

Gold is going to £4,000 p/oz.

And yes: that's £s & not $s.

I expect they'll defend that line like The Alamo, but it will be broken...

You know, it's interesting that mining stocks are pretty much the best performing asset over the last 12 months, & yet none of the mainstream financial channels EVER recommend them. "Buy FaceBook, buy Amazon, buy Netflix. Buy oil stocks! They're due to bounce back"...but they all completely ignore the best performing shares out there...but at some point, people are going to notice.

I've read in several places recently that the average investment portfolio has only 1% of its assets invested in gold (or other precious metal related investments). The long-term average is 4%. At the height of the financial crisis, it was 7%. I absolutely believe that what's coming will make the last financial crisis look like a Teddybears picnic, but even if we just return to the long-term average, that's a 300% increase in the quantity of money looking for a home (somewhere) in the precious metals industry.

When you factor that in with really strong fundamentals across the industry, miners generating huge FCF...miners need to utilise that money. Those with debt will pay it down & strengthen the balance sheet. Those with no debt (like AAZ, for example) will hike dividends & return it to shareholders.

I appreciate I'm beginning to sound like a shill. I am a naturally pessimistic person. Indeed, that is what led me to invest in PMs in the first place, but I honestly believe that what we have here now is a once in a generation opportunity. Returns across the industry will be MAGNITUDES higher than anywhere else. Yes: it will be volatile, but if you can stomach that, you'll be laughing. My portfolio is approaching 50% in PMs & I will take it higher. Beyond the risk of mine nationalisation (which will be very real in the future) I see no downside to this sector at all.

GLA.

...& we have two brokers today raising their price targets, even as we poke our nose above £9.

All aboard!

Shares currently trading +11% in Toronto.

When was first pour anticipated? December? But they announced they're ahead of schedule, didn't they?