Member Info for esduk

Element, Michael Oliver did a pretty good job of predicting the speed of this gold (and silver) price revaluation.

Has there ever been a day where the gold price has risen nearly 7%? This must be unprecedented. The $340 increase (with just over 10 mins to go) will definitely be a record in $ terms.

Btw, this has nothing to do with Canadian price moves yesterday. The article was released well after markets closed. You know my opinion on the TSX-V, that it’s only relevant if we talk about it and make it relevant (I would prefer not to). From a rational perspective it’s largely irrelevant, given the minuscule relative volume. If MM’s try to use it to play games then I agree with Jimzi, just take advantage.

So both MP Materials and USAR are down more than 10% in pre-market following a just published Reuters article suggesting that the Trump administration is moving away from providing price floors. The legality of the MP deal is apparently being questioned by Congress and once the administration looked at giving a a similar deal to others, they realised the potential legal issues with price floors. Apparently companies were told in a closed doors meeting earlier this month.

I think this is very bullish for us. As the lowest cost American based magnet maker I think this puts us in a much better position. We are very likely to get some US government funding and financing support to build the plants, but we don’t need a price floor whereas some of our competition may do.

This is a view I posted last week, rather than me trying to look on the bright side of what some may think of as bad news. I see it as bullish news, we want to dominate the US market, and without a price floor we will have less competition and should ultimately be able to charge higher prices.

The swings are just crazy, so violent. Moving $5-10 dollar at a time. Silver also just made a new ATH, albeit briefly. Will be interesting to see where Gold is at UK market open in the morning. The miners can’t ignore this move, surely.

There you go, it took out $5,450 in the first minute of Asian trading…

Ride your winners, bin your losers.

Gold closed at $5,416, so the chances of waking up to $5,450 are looking pretty good. You might even get there if you stay up until midnight as there’s a decent chance it’ll pass it in the first hour of Asian trading.

Crazy times. But also a time to make crazy money.

Correct, all four of those trades that were delayed reported will have impacted the price at the time of the trades (not their reporting) and don't matter going forward. My supposition was that the two mega ones, while appearing like sells, may have more to them given that over 550k of selling would not normally have led to a price increase of over 5% on the day.

The 2 x 50k's and the 90k are clearly buys. The 200k and 357k look like sells on the face of it, but I would have expected the SP to react more to sells of that volume. This tells me that they could either be worked buys, or that there are other as yet unreported large buys that balance them out. As SG says, we were over 5% up and showed strength throughout the day, which is the main, regardless of the answer to their classification.

If they are traders, they need to learn how to trade better. There has been a clear pattern for a week and a half now of us rising around US open. It's been so obvious that anyone who is a trader should note it and take advantage. But they fail to. They should also be able to notice momentum, which is clearly something we have right now.

Indeed Jimzi, but I don't think the 5k and 10k's will make any difference, given the massive background buying that is clearly going on. Every day after close they get reported. The tide has changed here, and it's only going in one direction for the moment.

Well, that didn't take long...

That's the analyst that asked the first questions last night on the quarterly results call. I noted the tone of his questions at the time, he appeared less enthusiastic and less knowledgeable than the other analysts that came after.

Someone just took 110k in the 2pm auction. Hopeful for a move to mid 60's this afternoon.

Thanks Bonker.

Looks like our US interest has arrived.

Can still sell plenty well above 61p, don't let the advertised bid fool you.

Ok so when you say 70p/90p you're just saying those are your next targets, rather than that it gets to 70p, drops back to 55p and then heads to 90p, which I think was the ABC move you talked about a little while ago?

silver, yes it's always good to have the chat board firing on all cylinders, and higher prices are a great tonic.

How does that work with the ABC move Bonker?

Picking up serious momentum here, and that's well in advance of US markets opening. Could we see mid 60's today?

Thanks velcro, unfortunately I don't have access to ASX (Hargreaves don't cover it). The more off topic chat, the higher the Mkango share price seems to go!