Member Info for carvegyber

I think the production description section should be more accurately renamed as "LOWLIGHTS"

Gold 3% up in a few hours?! unheard of. Like popping a bottle top.

I can't quite fathom what is behind the surge in the last couple of hours. Anyone with a clue?

Yeah BTB, brutal. Looks like the much awaited pivot might never come. I do wonder what will break next? The banks collapse quickly got snubbed out by Feds. Feds are not afraid of a run on them because they can just print....

Yes, I forgot about the debt servicing part... I mentioned municipalities but left out federal gov...LOL. Just because they seem to have the backing of the feds and the whole world loves and trade with the USD so they are happy to see stick their money in treasuries.

Bonk, why do you say that? What's your view?

Silver looking surprisingly strong. I didn't manage to get in again after it dipped below 2300 for a trade. Sitting here kicking myself for waiting.....

Looks like Jerome powell wants to cancel the pivot. Would not be great for gold. However, he would soon change his mind if companies, municipalities, banks etc start going bust..... It won't be next few weeks but in the coming months, a lot of cheap debt will need to be finance at much higher rates. That will bust a few....

From the report, it sounds like it has. They have also trimmed it this year.

Madm, well said.

LW, you last sentence made me chuckle. Everyone except our own Andrew Bailey who would still not have a clue what hit him if his salmon sushi lunch leaped up and slapped him in the face.

Noel, unfortunately, that is just another rehash of the same old....

LW, Japan is one economy that I cannot understand how it got away with such high debt when any other countries would be slated for near 100% level. I can guess a few reasons but I still can't quite believe it.

Bonker, that is a good chart but I am afraid US economy is running too hot so the much anticipated pivot is nowhere to be seen. Shorting US is probably good. There is no turning until Zombies appear in droves. The bank runs got quelled by the feds with more printed money. No one is willing to question the soundness of US fiscals.

Fitch was all but a flash in the pan. The world is literally giving US a free ride.

BoE is the biggest collection of idiots headed by the biggest plank of them all, Andrew Bailey...

I suspect the recent price falls are linked to the company pre warning impact to costs on several fronts from the recent production RNS.

BTB, disappointing isn't it? Just shows how little this is traded and how dead UK stock market is now. For the benefit of others some mag silver news below:

Vancouver, B.C. MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG” or “MAG Silver”) reports production from Juanicipio (56% / 44% Fresnillo plc (“Fresnillo”) and MAG, respectively) for the second quarter (“Q2”) ended June 30, 2023. Q2 marked a transformational quarter for Juanicipio. Ramp up of milling activities have been progressing to plan with Juanicipio declaring commercial production during the quarter and achieving increased production of all metals, with the most noteworthy being a 134% increase in silver production relative to the first quarter.

If they hit their production targets, which sounds like they might from Mag Silver news in June, I reckon that revenue will be some 15-20% higher than last year's average due to higher gold and silver prices and the considerable increase in Silver volume. For example, the average for AG in H1 last year was $22.8 and $1871 for AU. This H1, it would be closer to $24 and $1950 gold. That would put this in positive cashflow territory again and thus remove the main concern causing the SP to fall.

Just hope there are no nasty surprises. Cost inflation has been baked in already so I am hoping that has eased with the easing of contractors and fuel prices.

Can't wait....

Slater, how much do you get paid to troll through pages of someone's back posts so that you can take things out of context to discredit posters? It is obvious to all what game you are in....

FYI, my idiotic dig was aimed at you from oct/nov last year when you said you made profit from buying in the 600s to sell in the low 700s! Busy telling everyone to sell. Fres subsequently went on to 1000p. Plenty of time to take proper profit.

This has subsequently fallen back on costs and cashflow concerns. Investment case changes with facts so it is caveat emptor. If you are an investor, now would not be a time to sell. It is the time to ride because Juani has come on stream and pivot imminent. Twin bonus which should remove the cashflow concerns. I would at least ride this until H1 results to see how it pans out with cashflow and what the fed is doing then.

As for trading, long term posters here all know that I trade this and silver with a simple strategy. Buy as it drops and take profit as it rises. Keep trading the volatility. Less profitable on a bear stretch and profitable on a bull run. Less profit on Fres but doing well on silver. Which is what the title of this thread is.

Quietly jubilant and taking profit....