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mickmix you are probably correct. I was just thinking I might average up although always nervous to do so after a near 10% rise in one day. Oh why did I not buy more sub 3p (sad face emoji)
For those interested in Brits I have always got a better deal buying from Atkins in Sutton Coldfield rather than bullion by post. They also promise to buy back at 100% of the spot price on the day you want to see. I cannot confirm this as I have only bought not sold. Just worth looking at them for a second price if/when buying
ALBA has always a long term hold. With hindsight would have sold at .5 but now looking to buy more if it goes to the placing price. Accumulate whilst down here and pray it goes up either from finding gold or graphite. Not a scientific approach but as good as any.
Doesn't seem to have forced the price up though. Golds down just over 4% in the last 6 months although it's up 8.5% for the year. Better than leaving money in the bank where it erodes with inflation
I think correction rather than crash is the correct terminology for the housing market. If they fall 10% it still only puts them back to where they were last year. Brighter news is that swap rates have reduced over the last week or so. Interestingly 2 year money is more expensive than 5 year money. IMO this implies we will have a 2 years of spiked interest rates and then BOE will start to fall. Not to the lows we have seen recently but realistically these were too low although those of us with a mortgage have enjoyed them. Even if BOE goes to 4.5% now it is still low in relative terms to the last 20 years.
Thanks for posting
"As one early pioneer of tidal energy projects said: “In Scotland you can go north, west, east or south – we're pretty much surrounded by a free energy source - it seems only common sense to make the most of it.”
Never good but it was always a possibility. Stops the rumours and hopefully puts a base on the SP. Shame it was not offered to PIs as I think many would have taken the opportunity to average down. Probability is it will fall to placing value anyway
soundgrounded it makes sense to me but I am well down on my investment so I don't recommend you or anyone else follow my train of thought. I'm probably adding 2+2 and getting 10. Rose (Gold) tinted glasses
"even though Newcrest will have first call should their loan be defaulted?"
If we do not have to pay the loan until we go into production does that not mean if we don't mine we don't need to pay NCM anything? Therefore no production no loan payment and no default. If we have to repay the loan then we must be in production so happy days. Just the small issue of the $73m to sort now but if SD was offering $85m for the 5% share which would have been on top of the $73m to get us to production I hope he has $153m stashed somewhere as this is what would have been needed to fund both.
praty1 Well done on making some money. I wish you well with your investments and I am sure you will be welcome back if/when you decide to re-invest. I am currently well down on my investment here and I am sure many others are as well. As the goal of the exercise is to make money I would say you have achieved your goal
"Chippy - they didn’t turn down $85m for nothing, they turned down $25m for nothing."
Well if you offered me $25m for nothing I wouldn't turn it down so I wonder why Newcrest did?
For those that have seen lock stock and two smoking barrels I can just imagine SD saying to SB....
"Too late, too late" will be the cry when the man with the bargains has passed you by."
"It's a deal, it's a steal, it's the sale of the f*cking century!" In fact, f*ck it Nick (SB), I think I'll keep it!
Perhaps it is best that the SP remains low until the buyback is complete. If the SP remains low does that not mean that the buyback purchases more shares which in the long term reduces the number of shares in circulation? Would we not benefit from this long term?