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Gold just passed through $1600/oz , steady rise is breaking resistance, the eventual prize could be anything, including a pull back

As someone said previously the quoted price are misleading - 55 v 58 here - actual a minute ago 58 v 62#

Great start but still only small buys, in the last few weeks I have not seen anything large go through, one big buy would soak up all available stock and a big sell saturate the market. Fortunately the big shareholders are insider, with pledges in place to respect other shareholders.

Gold risen approx. $100/oz in last 24hours and still on upward trend.

I think there is a lot further to run, and for a change TSG is tracking it up, though still cheap as chips, around 4 shares/per bag.

Now we can't go to buy takeaway chips or McDonalds (I think, it's all very confusing) what better way to spend your money. lol

I'm sure it will go ahead but definitely not as a sit down session - they would be seen as completely irresponsible to do so for an unnecessary event ( only we think it's imperative) and I'm sure many analysts would not attend in any case.

It's not really worth debating, it's so obvious.

I noticed this morning that SDX issued an RNS about new FCA restriction on reporting unaudited result, though it doesn't apply to the CMD, I will be a lot happier after the event is case circumstances cause the event to be cancelled because of further restrictions.

Headline:
"IMPLICATIONS OF FINANCIAL CONDUCT AUTHORITY ANNOUNCEMENT OF 21 MARCH 2020 REQUESTING ALL LISTED COMPANIES TO OBSERVE MORATORIUM ON PUBLICATION OF PRELIMINARY FINANCIAL STATEMENTS"

Genghis -good post, I was waiting for someone to point out the obvious - the government have been well behind the curve all along.

However I don't even believe that they are doing the right things, lack of clarity is worrying many, but damning are the facts they knew this was coming and didn't place orders for respirators in Jan, and there is no pre-arrangement/planning to make these - viruses like Corona or extreme flu threaten us every year - so there was no plan!!!, Protective equipment is still not available to the all frontline NHS, despite government assurances - that a disgrace - if there are logistical problem, that's what the Army specialise in - get them delivering.

The government response has been pathetic - including allowing short selling to persist, it's the best way to get the markets closed down, I suspect they'll do it in the end but not until it's too late to save many companies or there is a run on a bank.

the_shareminator - exactly, take everything everyone says with a pinch of salt

The key attributes of a company in a crisis are Risk profile and solvency - that's why I'm in this. It is low risk as it has a strong , even compelling business proposition - and little chance of insolvency (many companies may fold in the coming months) never equate the risk of becoming insolvent with cash in the bank, it is a complex mix of factors that can be stressed at any time so the cash becomes meaningless. IMO bondholders are the biggest enemy for perfectly good companies that could survive, ask POG or PMO shareholders, fortunately TSG is not at their mercy.

TSG is overlooked by the masses on AIM and IIs alike, nevertheless, I don't worry about my investment here, unlike most of the stocks of all markets at the moment

On that vein, it could be a useful opportunity to reschedule operational to undertake maintenance/ debottling - they are not idiots and will take whatever opportunities present themselves - including getting concessions / relaxation of requirements /help off the authorities.

There may even be opportunities to acquire assets / materials / services cheaply - cash is and will be King for the foreseeable future.

MrWilks - I truly hope the decision making is a bit more considered than "pump like crazy" on a whim, if not we are in deep dodo.

Great RNS

Rising $/ Falling Rouble / Falling Oil Price / Strong Balance Sheet / Supportive Jurisdiction / Safe Haven Commodity / Highly Profitable / Mature Business model

What's not to like?

Halfpenny, clearly you have only half read my post as you are calling my post rubbish yet agreeing with me.

I'm clearly advocating Gold as the best bet at this time.

The response to the news has been very muted, especially as other oilies have gone up more significantly, sell on the news group strike again maybe.

But we now have the CMD to look forward to - and I do mean look forward to as the water issue has been explained.

Plenty of time for a rally today, I also suspect shorters have ignored fair warning from the governor of the B of E yesterday, he clearly warner entities not to take advantage - lets hope he acts on shorting. Even if in a few key sectors. Like Banks and Airlines it will send a broadside warning.

Remember, it is Dr Trice, some professional is addressed improperly.

I once had a ticking off as a student for addressing a Professor as Dr in an email. lol

More seriously - yes he does deserve great respect, especially for keeping to targets, that says so much where many AIM and FTSE companies fail time and time again and simply set new ones.

Gives great confidence in what they say at this stage.

Finally there are those on the BB dropping little hints of doubt, subtle deramping this morning - ignore them it's great news . Also those suggesting we should have more information on detailed operational plans, as someone involved in planning for decades, at this stage I think it is ridiculous. In this fluid situation how can firm derailed plans be communicated - they'll simply be accused of changing them next month or not having credible ones. A shared broad brush plan (which we have) and nimble mitigating action is all that's required IMO

The operating cost is not set $17/barrel - as I pointed out earlier it is related to the selling cost and is even less at less than $30/barrel selling price - due to the gain share (of profits) agreement with the main contractor, though they haven't given financial details. Excellent IMO

I always start by looking for the sting in the result, but these are very good, with clarifications that are major IMO.

10m of perched water identified and confirmed as cause of water % and is not impacting production - away go all those pathetic attempts to sow doubt about the future.

The contractors account for the main operational cost and they are on a gain shar eagreement related to the oil price - so as the oil price reduces so do HUR costs before any action is taken

They have not given up on getting permission for the Warwick tie back - great stuff it may still happen

ab - is the whiskey in anticipation of the results? Not much point buying Champagne, even if it's world beating news the response will be subdued.

Clearly you are taking this seriously getting out there as often as possible to pick up the essentials - I don't want to dishearten you but are you aware that alcohol is ideal for lowering your immune system (I love a drink but it's not top of my list at the moment). Though I might have a glass tomorrow if news is good.

I've been buying materials to do a little home maintenance I fear if we go under lockdown, boredom will be a killer, wives and husbands murdering each other. A house full of loo rolls will provide limited comfort.

He is the wrong man, my understanding is as boss of the FCA he was widely criticised for not taking action in the face of flouting of rules and legislation.

Add to that we have a chancellor who was part of a hedge fund team assumed of breaking US law - what chance have we, they are natural poachers who will always be weak in the game keeper role.

My two main investment areas over the past few years have been gold and oil.

Right now oil looks to offer huge upside for the brave, ~I'm not adverse to risk (no one in TSG will be lol), but I suspect those taking the plunge into oil are deluding themselves, values are trash and a return to norm would see huge gains, if only it where likely. There'll be time later.

The problem is that though the virus is hitting the oil price now, even if that is sorted demand is trashed and the main industry players are trying to bankrupt each other.

The oil companies shares will recover strongly for sure, but now is the time for caution and risk reduction IMO as some will surely not make it through this as the oil price is below breakeven for practically everyone and still falling. As for airlines, a perennial crisis hit sector at the best of times, it will be the end for some.

Gold miners are a safe haven yet must to some extent be suffering are a result of sales to chase opportunities elsewhere, my feeling is this is completely the wrong time, we're in a new reality for markets where even household names are at risk and many have not woken up to it yet.

the_shareminator - it's your right to disagree, but I suggest you revisit the history, entities where refusing to take $$$ for transactions and the government(president) forcibly confiscated (bought at a low price) all gold barring jewellery, coins and a few trinkets. Hence the huge gold reserves - the last thing will they want is for gold to surge at the moment. It's all my opinion and your opinion is equally valid - question is I suppose are governments bothered if gold soars?

Show - the OPEX is $18 if all goes well and $20 best estimate - but those figures are PRE any attempt to belt tighten operationally or on overheads - we should expect more guidance that they will make saving or review timescales to move out spending.

HUR are in a favoured position compared to many peers with a simple flexible work flow in one location, and lets not forget, the whole enterprise is not about maximising profit - it's about proof of concept - if they break even for the coming months that will be fine IMO as the price has to recover and they can hopefully save £millions on cheaper contracting services and get the OGA to relax their requirements (stop being belligerent).

Having worked in extractive industries during price collapses to below perceived breakeven in the past, I can assure everyone that you only find out what can really be done when you have to do it - our BoD should make, already be making, saving and be fighting tooth and nail to secure the future or Dr Trice should be sacked very quickly - this is no time for tolerance or sentimentality for past achievements. Some companies will go bankrupt but HUR are not on the top of my list of candidates, most shale drillers will be long gone first.

Just run a quick check over my assumptions here, and to be honest I can't see any issues (the reserves restatement is neither here nor there in the scheme of things as reserves are plentiful in the region.

They notified for 2020 All-In Sustaining Costs2 of between $900 and $1000 per ounce and a dividend policy of at least $3m/year - loads of cover at current prices, where's the problem?

Oil and other stocks are crushed, but the likelihood is that that has further to go yet, surely now is the time for safety.

Not really perhaps for this board, but I reiterate my view that governments, led by US will want to suppress gold to stop a confidence breakdown - in the Great depression it was a huge factor that gold was the only trusted currency in transactions; the result was the US president nationalising gold, banning ownership, and the US eventually countries dropping the gold standard - the birth of the mighty dollar. It is not as crazy as it may sound if you research it, that the value of physical gold gaining traction could hurt government strategies.

It will be interesting to see later how physical sales are panning out as the electronic pretend transfer may lose their grip later, once peoples homes are comfortably full of toilet rolls of course.