Member Info for ElProfessor

Hi Sotolo,
I agree that the 2021 news is not good. I guess if you were looking for a silver lining it is that quarterly production of 70k in Q4 is rising to an average of 100k a quarter. They key question is what was the market pricing in for 2021 production. I suspect it was expecting better than this.
Prof

Thanks Razors. Before the last production problem I was seeing 250 this year and 300+ at some point next. Depending on the scale of the production issue (21 Oct will be interesting), the life of mine report later in the year, POG and of course what production is called for next year, I still reckon we could move to between 250 and 300 next year.

Razors,
No idea. Lack of imagination by his speech writer I guess.
Would you let your CEY shares go at 250 if it meant you were out of any rises beyond that?
Prof

Razors,
Shall shall we tell him about CEY and tell him it is his for £5 a share?

According to KITCO there was a strong support line at 1927 so great to be through that for the weekend. They are showing the next one at 1950.

Seem the Democrats and Republicans are narrowing their differences for a further stimulus in the US. Would not be surprised to hear that announced in the next week. That could be the boost we need for gold.

Hi Supercharger,
Thanks. And yes I have plenty still in here for the ride back up. Delighted to see a weekend close at just over 1930. Here's to back to the 2000s and beyond. Great to hear you are doing well with FRES and HOC.
Good luck with the caring responsibilities.
Best wishes,
Neil

Hi Supercharger,
I don't disagree with you at all. I see CEY moving up from here. I am just over concentrated here as I keep buying on pull backs, failing to sell when it gains and then buying more when it pulls back again. I bought 10,000 more at 147 to replace 10,000 I sold on Friday at 180 in the slide and then 10,000 earlier in the week at 157. Today was just a day trade because I felt we were not keeping pace with gold. Never intended to take the risk of holding over the weekend so delighted to have made £2k on this undervalued but highly volatile share.
Best wishes,
Prof

Just chickened out and sold the other 25,000 at 163 given gold fell back to 1925. Still expect 164 today but happy with my 2%. Trying to learn not to be greedy. Hard lesson!

Just sold 30,000 shares bought earlier today for a 2% gain. Still holding 25,000 bought today will almost certainly sell before the bell not because I expect bad things next week but just risk control given the already too large main holding. Hoping for the SP to crawl closer to the earlier 164 given gold is not knocking on the door of 1930.

Gold pushing up against what was the long held high at $1923, prior to this summer's explosion. Will we take it out.

CEY sluggish relative to price of gold today so have brought some more as a ST play.

Hi Razor,
Thanks for posting. BTW don't think they have put a target price. I read 'Buy at 154' as being a recommendation to buy and 154 being the price at the time of writing. That ties with the price before yesterday's rise.
Best wishes,
Prof

Thanks Tibbs. Fingers crossed for upward momentum!

Best wishes,
Prof

Just bought back the 10,000 I got out on Friday morning at 179.8 for 157.25.

I had bought yesterday too but that was in a SIPP not ISA.

Fingers crossed that Gold marches upwards and through the 1923 resistance rather than takes another dive.

Best wishes,
Prof

Marmot,
Would that not be nice to see. And if Martin Horgan really believes in CEY one would hope that he might indeed put some of his significant wealth into play here, particularly at the current price.
Liked your comment yesterday about letting the price come to you. Something I always plan to do but then fail to execute. Looks like you have got a great reentry price here.
Keep commenting please; your posts are always insightful.
Best wishes,
Prof

Morning Sotolo,
Like me, I think, you are holding rather a lot of these (oh the irony of new posters thinking you are trying to deramp). It is such a horrible feeling when you get an even like Friday's and even more so when it then keeps dropping the following day. Feels so much better once we are moving back up, even when slowly which so far today it is not.
Let's hope for continued positive momentum. I can't see what black swan will hit next, but then again is that not the definition of a black swan?
On the downside I see a fall in POG. On the upside a rise in POG, which I consider more likely given the state of the world, a licence announcement, 21 Oct being reassuring and saying the fall in prod is not as much as originally feared, positive exploration noises, further director purchases (new CEO presumably will also have to buy).
Fingers crossed,
Prof

And the SP has gone up a further 3p in the time it took me to type the previous comment. Must start typing longer messages!

Trading at around Friday's close. Has the rot stopped or is this a brief bounce before another leg down.
Bought 10,000 yesterday at just under 150. Was tempted to buy more but, as I have previously said am far too concentrated in CEY. Must remember to sell this tranche on a good rise, rather than doing my usual trick of holding on until the next drop and then buying more again.
Nice to see the Chairman buying 100,000. His contract will also certainly compel him to acquire a certain number of shares so he is now doubt delighted to get this price dip to do so. Nevertheless I am delighted that he has. It gives confidence to the market and it also gives confidence to me. Not convinced he would have put £150k of his own money on the table if there was anything untoward beyond Friday's statement.
Best wishes,
Prof

Morining Sotolo,
Like you I feel better once the big falls are out of the way. Regardless of the absolute value of the share (well not quite) it always feels better when the trend is up rather than down and clearly a steep downward trend is worse of all. Let us hope that is it now done!
Had a thought on a walk yesterday ref our different calculations of the lost profit. I used as a proxy the full 70,000 Oz reduction x the POG at $1900 to give $1330/2 (EMRA) = $66.5M loss of profit to share holders. I think this is right and no further AISC adjustment is made for mined gold. The reason being is that I am counting the mined oz at the full cost rather than just their profit. In other words with a previous AISC of $900 profit would be $1000 on those ounces at POG of $1900. By discounting the full $1900 I am discounting the profit of $1,000 an ounce and assuming the cost element of $900 is still being incurred on the other oz mined. Clearly this will significantly push up the AISC on those oz but the loss in profit should be the $66.5M. Does that make sense or am I missing something?
If right then a loss of quarter of market valuation for a fall of $66.5M profit in one year does seem a little drastic.
Best wishes,
Prof

Thanks Mike. Definitely agree about keeping it nice.

Best wishes,
Prof