Member Info for JohnLewis79

I believe all PAT trades are done through MMs. Today a 100,000 sell at 12 got the day off to a bad start.

It's a constant topic among pis that good news rarely sees any increase in company share prices, certainly the ones I follow. I could name you 5 that I look at regularly across different sectors.

The latest a palm oil producer who have just released excellent results. Profits were up 400% and easily beat expectations....the shares unmoved. I guess that's a result! If the object of the exercise is to reward companies for increasing revenues and profits then something is going seriously wrong as it ain't happening.

The sp was 3 x current when they were losing money and their core product selling price was $1000 lower. Whether its EV or NAV or more buyers, nothing reads across to share price increases. Is this the mrkt doing its job or just perpetual pis moaning?

I know some smaller companies are seriously considering de-listing. We all say "eventually value will out"
but why should it be months if not years later.......... or never?

The Dow was all over the place yesterday trading in a 400 points range, a low of 33,918 to a high of 34,313 perfect for traders to play the swings. Volatility is back with a vengeance.

Evergrande fears subsided momentarily. Evergrande is China's second largest developer of massive housing developments. If the Co goes into bankruptcy the ripple effect could impact China growth (a big demander of iron and steel), creditor worries mainly the Banks who will receive little to nothing and other developers to raise money for mainland projects.

Many US brokers are warning clients to expect further pull backs in Q4. T/bills and the USD were flat awaiting news from the Fed (BOE today) on rates.

DJ -51 (33,920)
SP -4 (4354)
NS +15 (15,028)
R2 -2 (1303)
WTI $70•51
10ytb 1•334%

MSCI(W) +3 (3050)
Gold Bugs u/c (237)*

* NYSE Gold Bugs an equal $ weighted index of the 15 largest most publicly held wholly Gold miners. Base value of (200) in 1996. Currently 21% down ytd.

Latest:- Oil $75•23. Vix 24•36.
Gold $1777. Copper $4•221.
Palm $1215. Silver $22•790.
$1•365. €1•165. Yen 109•398.
Yuan 6•471. FF +11. DF +38.
Morning all.

OK intothedeep I'll get my coat....

Go easy Hasiba....you might move the sp!

Will sellers take the stock down to 10 and a mrkt cap of £9•1m? Yesterday PAT fell •05 as sellers and buyers we're pretty much evenly matched on the session.

I'm trying not to get too obsessed with daily moves but need to watch closely so as to take advantage of any slippage from 12•75. It's difficult to fathom the fall from 34 to 13 (62%) given investors are much better informed about W.Africa projects.

For sure the rapid rise was overdone mostly due to Bhukia, so is not the fall also overdone given W.Africa news?

I was going to say only for the foolhardy......but perhaps only for those with foresight?

With one eye on Evergrande, which might not be big enough to fail, investors cont to fret about the pace of global recovery. From the bell investors pulled money out of stocks sending the Dow down 826 in early dealings, 976 at its worst, 10 of the 11 major S&P indexes were in the red as sellers outpaced risers by 7:1. Economy sensitive sectors like Banks, Industrials, Leisure and Energy all fell. Spot Gold rose to $1763 as investors quit risk assets though the rise was capped by a stronger USD.

Though the Evergrande situation is big, it's main lender is the Central Bank of China, news of the crisis had been suspected for months. It's not the main reason investors are moving out of stocks. US Govt debt, a mass of tax hikes to pay for keeping the economy afloat during the covid pandemic and likely rate rises have dampened investors mood for stocks. Vix the "fear gauge" hit it's highest level in 4 months as the 'herd' instinct took over. Preservation of capital outweighs risking one's money for uncertain future profits.

It wasn't total gloom on the Street yesterday, Carrier's had a goodish day (they were flat) as the Govt relaxed travel restrictions on flights from the UK, Europe, India & China. With 8 trading days to go, Sept is keeping up its reputation as the cruellest of months and might become the 6th worst since 1984, currently down 4%.

If form is anything to go by expect a bounce today as Asian mrkts are quiet after the Evergrande CEO said the Co would survive its debt crisis and complete all ongoing contracts.

DJ -614 (33,970)
SP -75 (4358)
NS -321 (15,012)
R2 -26 (1305)
WTI $70•98
10ytb 1•328%

MSCI(W) -50 (3046)

Latest:- Oil $70•98. Vix 25•71.
Gold $1764. Copper $4•134.
Palm $1240. Silver $22•270.
$1•367. €1•166. Yen 109•547.
Yuan 6•465. FF +42. DF +243.
Morning all.

Oriole Resources the W.African (Cameroon) gold miner has announced the successful placing of 416,470 shares at 0.425.

The shares were oversubscribed and now amount to 1•994bn in issue.

Of course the sp decline pleases nobody, even those in at 4/5 so its relative to when you bght and your current avc. Pleases some but I'd guess most like me bght higher up and showing losses are a bit grumpy.

I'm c.1•5 down, in cash terms approaching £1500 not disastrous on a 2 year look, as I view the current Co value to be significantly mis/under priced. What does worry me is should there be a stock mrkt crash of the order 30%-50%, Banks will pull funding to companies in a flash and PAT will get embroiled in the sell off panic and confusion and if you haven't experienced one the good go down with the bad.

Being debt free and in a safer sector might not save us. I'm not panicking yet but as they say " if your gonna panic, panic early!"

Stocks in Hk have slumped nearly 1000 points (4%) weighed down by the plunge in Evergrande stock a Chinese property developer. They have warned of defaulting on c.$300bn of loans as banks have pulled lending to the Co. Other property companies are lower the HK property sector index off 7% to a 52wk low. Markets in Tokyo, Shanghai, S.K & Taiwan are closed for local holidays.

Australia has got off to a weak start the ASX 200 down 157 its lowest in 9 months. News from China of a reduction in the use of steel due to climate change concerns impacted resource stocks traded in Sydney. Prices of iron ore & nickel fell, Gold at a 4 week low. Sellers scrambled to get out of the mrkt at a 9 month low.

Latest:- Oil $74•85. Vix 20•81.
Gold $1747. Copper $4•169.
Palm $1230. Silver $22•100.
$1•371. €1•170. Yen 109•905.
Yuan 6•465. FF -31. DF -335.
Morning all.

Well you certainly can't blame the sp slide on lack of news. We have had 7 very positive RNS reports since wk 28. An absence of buyers this week took its toll whereas last week it was the reverse.

Whatever your point of view the stock has refused to move outside the 13-15 range since wk 27/8. The mrkt is being extremely perverse and we're not the only ones by a long shot. You have to wonder, what moves sp's these days?
Evidently it's not good news.

Below the nos for this week and the 10 weeks from July 12th. Its remarkable that the nos are so consistent as to vols, deals, sizes & %s week by week. I'm not sure any of this is especially useful but goes to help one's understanding of the current investor involvement in PAT.

Wk 37
Trades 55
Vol 712k
Buy 216k
Sell 496k
Sell 2•3:1
Sell 70%
Avg deal c.12,945
Avg cost c.£968
Sp -5•4%
Ytd -60%
52wk +173%

Wk 28-37
Trades 596
Vol 7•9m
Buy 3•463m
Sell 4•466m
Avg deal 13,300
Sell 1•29:1
Sell 56%

Wk37
Ftse -64 (6964)
Aim -22 (1272)
DJ -166 (34,585)
SP -41(4433)
NS -182 (15,333)
R2 +2 (1331)
WTI $71•96
10ytb 1•371%

TK +176 (30,500)
HK +217 (24,885)
SH +6 (3613)
ASX -56 (7404)

MSCI(W) -26 (3097)

Oil $75•49. Vix 20•81.
Gold $1754. Copper $4•240.
Palm $1230. Silver $22•360.
$1•374. €1•171. Yen 109•927.
Yuan 6•465.
Morning all.

Morning Nobull, so true! This is one I intend to slice and dice if I start showing a profit. At least in the first instance we have evaded dilution by sacrificing a % of our holding for £13m cash for drilling costs. This should carry us into 2022 with a bit of luck when I will be sunning myself on a desert island.....I wish!

The Dow got off to a rocky start falling 260 at the bell as new jobless claims came in at (332,000) higher than expected. However retail sales surprised rising c.1% in August and 15% ahead of a year ago mainly due to a surge in on line sales of furniture and other household accessories. Consumer spending will cont to lead the economic recovery as long as the Govt get a grip on the infection rate and the un-vaccinated who are facing strong penalties for not getting a first jab.

On line purchases are off setting a near 4% decline in Auto sales due to an acute inventory shortage at dealerships and to a lack of microchips which power cars these days. Ford was u/c at $13•36 and GM ticked up 50c to $51•40 but Toyota eased 33c to $181•33.

The Nsdq fell 133 early on but has recovered slightly to trade 57 lower at 1•30pm EDT. Msoft continued its good run to $305, Fbk off $3 but Tesla rose $11 to $756 in early deals. Google and Amazon weighed on the 100 which has declined in 6/7 past sessions. Casino chip stocks saw falls across the sector, Wynn Resorts off 2% to $81 on the Chinese Govts clampdown on gambling hubs.

Gold slumped $40 finding support at $1750, a break down through this level and it could get ugly for Gold bulls. Strong resistance is seen at $1800. Better than expected Retail sales & a strong USD kick started the sell off. Tapering and higher rates just got a whole lot closer.

Oil prices steadied after a year high yesterday as Gulf oil production returned to normal when Hurricane Nicholas moved away. Pipe line service and electricity to Southern States was restored. Dealers on NYMEX noted a surge in European power prices due to lower gas inventories and reduced supply from Russia which is supporting crude prices atm.

DJ -63 (34,751)
SP -7 (4474)
NS +12 (15,516)
R2 -4 (1329)
WTI $72•52
10yt/b 1•340%

MSCI(W) -5 (3123)

Latest:- Oil $75•47. Vix 18•69.
Gold $1758. Copper $4•306.
Palm $1220. Silver $4•306.
$1•379. €1•172. Yen 109•847.
Yuan 6•456. FF +30. DF +2.
Morning all.

I'm not sure PAT have the wherewithal to go it alone as the costs associated for setting up a mine are huge and before you add in anywhere from $500-$1200 as all - in running costs for mining a single ounce of Gold. No doubt they have a plan.

However the real costs of mining remain uncertain due to the way Gold Miners report their nos. Previously it was under GAAP but now the World Gold Council has developed a new "All - In sustaining" costs measure to more accurately relay the true expenses of production which does not leave out as many associated costs.

Add in the practical, the upkeep of machinery, roads, regulatory, taxation and security costs investors should appreciate how difficult and expensive it is to find, mine and bring Gold to market. According to Thompson Reuters GFMS Gold Mine economics service average all-in costs for S.Africa was $1400, approx $850 in the US, $1100 in China, $1200 in Australia and the cheapest Peru at $700. Where WA stands on the list of Gold producing countries was not mentioned but probably more Peruvian costs than Australian.

You know the saying never apologise, never explain.....anyways good to hear your back. Some of us speculated you had joined your mate Lord Lucan, so c'mon spill the beans where is he?
I'm still keeping afloat in a blue sky miner but I will need a multi bagger to recoup G and my blood thing losses.
I spend my days between PAT and my local boozer. I hope BP is treating you well.

Cora Gold announce a H/Y loss of £518,000. Points of interest the NAV is £15•81m or 6•43pps so with the stock trading at c.15 bid that's a premium over NAV of 133%.

This indicates that investors are prepared to pay more now in the hope of bigger gains in the future. Brookstone is the largest holder with 29•99% (71•3m) shares.

The Dow slipped 55 at the bell but was soon on the recovery path gaining 260 at lunch, more than recouping yesterday's losses. The mrkt saw 8/11 sectors in the black and all major indices closed higher. Standout was Microsoft gaining $5 ($305) on news of a $60bn share buyback and a 11% increase in the dividend.
The so called 'quadruple witching hour" will occur on Friday when stock index futures and options all expire. This occurs 4 times during the year and often leads to increased volatility.

Gold slipped below $1800 on technical selling after failing to consolidate above $1805. Oil cont it's recent strong run as Brent hit $76•22 after news of a stronger than expected drawdown on US inventories. As vaccination roll outs increase across the world its expected to power up demand for the black stuff. In the USA alone 18m bopd (a barrel of oil contains 42 gls & produces c.45 gls of refined products) is consumed everyday to power road transport, air travel and is a vital ingredient of many things we use on a daily basis. Not that long ago crude had a negative $36 boe price, now trades 46% up ytd.

DJ +237 (34,814)
SP +38 (4481)
NS +121 (15,504)
R2 +14 (1333)
WTI $72•87
10ytb 1•298%

MSCI(W) +12 (3127)

Latest:- Oil $75•63. Vix 18•18.
Gold $1793. Copper $4•769.
Palm $1220. Silver $23•890.
$1•383. €1•171. Yen 109•583.
Yuan 6•441. FF +7. DF -27.
Morning all.

Morning Metals....you've woken up and smelt the coffee! Bargain prices on offer atm.

Morning Nobull as usual I'm on the same page as you and as usual I think I sold out lower than 63! Had REA not been a debt junkie it's sp would be multiples of current. Of course when I originally bght REA the B20 program was unheard of and replanting was ongoing. REA was always a sentimental fave stock of mine having worked in Malaya (as then) which just goes to show don't fall in love with a stock even if you understand the business! At least it's showing some signs of coming out of intensive care so recent buyers should have a care free run all things considered.

I have nailed my colours to a junior WA gold explorer so definitely jumping out of the....into the...hoping for a multi bagger (1 x will do for me) from my avc of 14•87. To date despite resource data exceeding expectations the shares languish at 3 year mid levels and ain't that just typical these days!

DJ -292 (34,578)
SP -26 (4443)
NS -52 (15,383)
R2 -18 (1319)
WTI $70•88
10yt/b 1•291%

MSCI(W) -10 (3116)

August CPI nos showed a rise of 0•3% in inflation and y-o-y to 5•3% well above the Fed's target of 2%. Stocks were lower from the bell with shares linked to the economic recovery hit (Bank of America and GE). Apple ($148) closed 1% lower after unveiling its new i phone 13 which failed to excite. Jim Cramer the 'mad money' TV host said investors should hold Gold & cash during the cruel month of September.

On the political front the Democrats have proposed a new tax hike of c.$3•5bn on corporations and the rich to fund a social safety net and climate policy bill.

Latest:- Oil $74•08. Vix 19•46.
Gold $1804. Copper $4•324.
Palm $1200. Silver 23•810.
$1•380. €1•169. Yen 109•583.
Yuan 6•441. FF +6 DF +70.
Morning all.