Member Info for mogo

Just sos you know I check things...I've said these two companies had hits last week but their SP's stayed stable.Exact figures-Goldcorp took an impairment of %1.93bn while Newmont's last week was $1.7bn.These shares were down only 5.4% and 3.7% right up to now coing after rises over the month,most of which have been retained.The reports for Q2 for these were otherwise good,healthy cash piles,paying dividends etc. and costs bearable at the present gold price.If gold falls they will just cut production,to cut the supply again We've seen how ABG's poorer results haven't affected the SP much so far.GL DYOR.

I keep repeating myself when important things happen.Last year world gold supply only rose 1% so it doesn't take much to cut the supply.Gold cannot be printed.

Gold is an unusual metal.With shares many tend to sell on drops but for gold often traders get more when it falls especially in the East where they like physical gold.Otherwise in the West the paper gold of ETF's gets unloaded quickly as it is basically worthless because you'll never get delivery despite any promises you will.In actual fact any gold used for backing ETF's has been loaned away many times or sold.No,I don't believe any one article anywhere,I look at trends.Or what actually happens to bond yields.Again yesterday there was a big sale of German 30 year bonds at 2.47% for 30 years-source Kitco.A good bit higher yield than before.Which ties with the higher US T Bonds this month.Quote-"inflationary pressures creeping back into the world markets" (slightly changed for (c) ).This has been a hard week for gold yes of course QE might still be tapered from September but who is to say gold will never rise from where it is now ? I stick with the production cuts of goldminers helping to increase demand due to lack of supply.For example among many other companies ABG might cut production at two poorer producing mines.GL DYOR

I told you earlier how both Goldcorp and Newmont hardly fell after far worse news than here,they were hit with huge writedowns last week. Resiience.

on Market Oracle says gold down a bit this week then a good uptick begins next week.That may be rubbish obviously but I can't see below 100p coming soon.The dirty washing is drying on the line.QE won't be ending for a time yet.Watching the US T bond yields rise most of this month.

mortgages soon unaffordable.

an interesting discussion on this-they've got off so far as the extra money sloshing about not in the general economy but into banks to help prop them up.Yes some inflation now leaking into the general US economy-UK/Europe always 6 months behind lol semi ignored-the inflation is showing up as these rising T Bond yields,an important thing to watch.Also yes I'd done a bit of property/real estate share investment but stopped last week as reports that it was mostly speculators and mortgages soon.A lot of that Fed and BOE support for housing going to be wasted..they might try cutting QE but from each time they said so in speeches-shares fell,bond yields rose.The most scary thing for the Fed. in a no QE scenario is mortgages tank then unemployment rises and how do they go on paying off debts at higher interest rates with another fiscal cliff looming ? I read articles on Market Oracle a lot and some writers there doubt QE can be stopped safely anytime soon.

I'm now suggesting the II's apart from Coburg will have written down their averages below 1p by trickle selling/buying as the SP fell.Like most here they'll write off their loss against future CG credits and reduce potential CG tax.So with Coburg's projections of either 6p from the post in iii to 10p from the one from Catchingpigeons whatever they see it as a good gamble getting multiples of at least x27 in a few years for a stake of a 10% of about £2m Mcap which is £200,000 at the chance of getting at least 27-1 odds.Not a bad gamble for them ?

note NC can't afford

this is all a pure gamble for AFE investors and NC/Coburg.Yes and MP within Coburg too.And EW withdrew his claim while the present II's except IFC who swapped out are all solid.You cannot assume though that the older II's have stuck where they were at buy in prices of 5p upwards from memory.These days with algorithms you can trickle in/out without any net sales showing up in RNS as they have to be for changes in major holders might have their stakes in at below 1p or whatever due to that invisible trading.They are not fools.So do not assign too much weight to the II's sticking here.For AFE and Coburg and the other II's there is this 2 months time limit for the capital to last from AFE's own words,I've not been clocking but a few more weeks of that must be gone.Say a month left now ? NC isn't under such time limits as his company hasn't invested directly in AFE but has about 90% of the Dutwa project.It might suit him to put off therefore till events happen ? These might include AFE selling the remaining 10%,or an AFE takeover by someone with money,which might include NC himself ? Or others like the Chinese,this is getting down to rockbottom valuations now. All my own guesses.As to whether Coburg get their 6p or whatever or 10p from the warrants that depends on a sale/BFS and there's no time for that in the month left unless again someone comes in with money.Nore NC can't afford to do the BFS either himself which will be a number of million £. And the project itself over $600m for starters.GL DYOR.

just to prove I'm not a blind ramper here,I track some gold coin dealers though I don't invest in coins due to the hefty spreads buy/sell.A month ago there were classes of coin unavailable but now all are available on the dealers I track.Of course gold has risen from about $1250/oz to about $1320/oz. so a bit less demand for these coins at higher prices.At the moment I see the push for higher goldminer SP's coming from production cutbacks more than customers demands for physical at these prices.Though we are getting into the best time for goldbuying in the East,of course India the biggest market for religious festivals goldbuying is trying to cut imports.GL DYOR.

my own view( print this and discuss/shred in a month) lol is that QE has to go on a while at least for several months anyway,yes figures might improve bit but no magical changes soon there will be.Note that a report said last year world gold production rose 1% only.There have been cutbacks on that since by goldminers which will continue if gold stays around $1300/oz. which is closer to costs..Gold cannot be printed.Except of course the paper-Gold ETF's from which exits have been made.Physical gold is now more popular,and who produces physical ?-the goldminers.Also Signet Jewellers SIG doing well though maybe too high to invest in.Again my own views.GL DYOR.

trending upwards now-gets past the hot air/windowdressing of the Fed. etc. in this important week for news-for example the 10 year bonds now are 2.61 %-yesterday 2.60 %-last week2.50 % -last month 2.48% which must someday raise inflation and help gold despite all the manipulations and shenanigans.

yes all the dirty washing is out to dry now lol.

unable to post there seems ok.

as it says

Yesterday I said both Newmont and Goldcorp since last week's announcements of many millions of writedowns etc. had fallen up till yesterday 3% and 5% respectively.So far ABG is only down a few % this week.If the two mines causing most losses are sold or just recosted as they are doing things should improve.Barrick selling shares bring it on.Even if this went to the lowest this year,93.50p it would look a good deal to buy more.Later this week a lot of important news will come,there isn't too much cause to worry.This is after reading all the latest Market Oracle and Kitco reports.DYOR GL.

losing many millions last week Newmont and Goldcorp fell only 3% and 5% so far so this news should be absorbed quite well.

I make mistakes we all do but these things might affect readers of this you see..

agree with that,I quoted net costs these add ons are at the discretion of the company.In fact many companies do not state them even though they are there.And we agree cost cutting will give better results.The biggest "unfactual"l was the debt quote given earlier by i-stock who appears to be quoting African Barrick's debt -a SEPARATE company- but take into account THEY are almost the world's biggest so you'd expect high financing costs for them..you can't run a palace off a whelk stall lol.