Member Info for itsaduster

I am pleased to read your take on things particularly if it seems at odds with my own view. You are right .........I cant see clearly what effect the withdrawal of QE will have on Gold price. The Fed clearly favour psychologists to financial and banking personnel. They have played a blinder. The general market response is I am sure better than their wildest dreams, and wrt the gold price as QE is closed down are we expecting gold to go up or down. If the economy is strong enough to do without QE then gold will squeeze down.........to what level who knows. There is one thing we do know and that is that it will go too low and then bubble up to find its equilibrium slightly higher than its lowest point. If the general economy proves to weak to take QE withdrawal then the fed will just slow up and the gold price will just wiggle up slightly. Either way we will need our higher grade stopes for a year or two. China seems to be showing stability with domestic consumption taking front seat and in general the world economy has quite a few bright spots .......even Europe and obviously America. I see this as going on for the next two years. What will break it ? Maybe the stalling of the the Japanese Abenomics experiment. But I am not predicting disaster. As China becomes an increasingly respected inhabitant of our globe, American economic power will be complimented. To do this China and India will want their currencies supported by assets ......and that will be substantially gold. That may take a crisis in the Chinese currency as happened in America. If China tries to underly the value of its currency with gold you can bet your bottom dollar America will legalize the holding of gold by its citizens.........

I feel the board didn't want to take Tissier into the new cost conscious environment and so the delay was probably due to their search for suitable replacement. Very specific deep level leadership and technical skills not to mention industrial experience and contacts are required. Not easily found

There are always concerns with underground mining. Even open cast operations are vulnerable as RTZ have recently experienced. In our case I agree KLG have been slow to respond to falling gold at the operational level. But they have acted very well now. I approve their actions now and I welcome the appointment of a South African ( Trained ) mining man. There is no better Mining culture in the world. So I believe we are in safe hands and all the changes made make sense to me sat here in UK. I congratulate the Board on their choice. Tissier was quick out of the door and I think some of his contractors may have been on very generous terms ?? These fundamental changes do take time so we shouldn't be to harsh. Next year there will need to be uplift in development so any extra grade to produce more gold will have to cover these costs. We are predominantly on cut and fill mining methods at the moment. This is a very expensive method of mining but it is the safest. Cut and fill is Relevant to us as we are mostly under Tuffaceous hanging wall and at a good depth. I don't know if we will migrate some stopes to open breast stoping or even longwall which once invested in will give lower mining costs but will possibly experience rockfalls and so will not be as safe as cut and fill. Any decision on mining method and any changes to open breast stopes will need to be cautious and select the best possible ground. It could be the hanging wall changes to the North East in the newly acquired ground. So I understand concern about the time taken to take account of the changes in gold price but we have made excellent changes in direction now. Also many of our decisions in the past are proving providential and wise and are benefiting us now. Also we arnt showing cost per oz in the higher production regime. The figure you mention is on lower tonnages. So figures in June will give better indication. Also I think we are still profitable and I expect to continue as such on account of our availability of grade choice. I am possibly a bad guide here as I have followed this mine from very early days and I am gold bug having been connected to gold nearly all my life. I am presently a buyer ( 130p ? cant believe it but that's just me ) but wouldn't advise any one to follow me. DYOR and GL

I like the posting here today. I feel all points made in todays very interesting posts are contributing to squeeze up. Shares Mag points up the pipe line out of Kurdistan to Turkey is now complete and ready to give route to market for production by the likes of Genel. whose shares are apparently also moving north on the fact that their oil can use the pipe.. So if we are lucky we have push up from both drilling in Kurdy ( oil shows or just anticipating final report declaring a substantial find ) and the newly finished pipe line to market. '' carp '' keep posting that £5.50 thingy it really cheers me up. Personally I think we will see it in 2014. Just my own view and wishfull thinking. But what a nice change the last two weks have been..........a change of direction folks. bear trend to bull trend. !!

Don't quite get why U bought. This has one of the best news flow diaries and potential I know. Risky yeh but that gives U gearing. U must of known that when U bought......... So cheer up Dude and find something to distract yourself..........as other posters suggest dinosaur spotting is a good diversion.

elaborate......? I am thinking the court case is approaching resolution ?? That will give us a big lift

Don't ya luv em

Agree ........I seem to remember $800 oz as being target. Going for higher grade stopes is clearly a good move. It is one of the dividends available to us from the developments investment put in in the last 3 years.........it will help save our bacon.

Still in heavy bear trend down. But there isn't much water under the hull so it must flatten out soon. The new girl at the fed could be putting the spooks up in wall street. Think we are lowest eva even though we have built upgrades and have oodles of development in and producing at 130,000 oz per annum. Based on nothing but I guess we must call the bottom at 100p.......??

As I posted KGI have brought all the bad stuff forward to give Ogilvy a fresh start with a clean sheet. Always do that.

The new man might push through some difficult stuff to get it out within the influence of the last GM.. So I wont buy into results.........but I have been topping up at these low levels. I am waiting for March results.

Speed took me by surprise..........usually like watching something doing something very slowly here. Smell of money I guess.........money in bank is the best de-risking though I would like to think there are reports of countless intersections of oil sodden strata on our Kurdy drill ........leaking out and starting to nudge sp and a sign of hysteria and manic buying fever to come

Interesting News hereand decisive quick changes.........wasnt there an Ogilvey at Goldfields as chairman. If this guy cut his teeth on the SA gold Mines he will know his stuff Seems to have put in some good time and experience ? Dividends seem to be on the Agenda now

probate. Executors are completely without market savy.........they just sell.

Good communicator !! Not gushy.......just a few pertinent facts now and again.!!

Reading your post I got a flash of light.......thanks ......good posting I am thinking now we may have a wait for this to resolve before we manage our migration and listing to the main market.

that explains the share price over the last 2 or 3 years.

Article in SunTimes saying oil pipeline from Kurdy to Turkey now complete and first oil about to flow Oil sold outside Kurdy can sell for $20 barrel more than it can get in Kurdy. Obviously they can sell much more by swishing it down the pipe to Turkey. I mention this as a likely explanation for our sp movement recently.!!

Yuhhhhh ! So I am a rubbish ramper and a rubbish duster. rubbadubdub rubbadubbadubbadubbadub. no genie ...........sigh ! aint wokin

Moi ?????? Shame on you for your thoughts