Member Info for nimrod22

"Barclays raises Endeavour Mining target to 3,200 (2,600) pence - 'overweight'"

Worth buying on the dips

Appears to be a industrial recovery underway in China and USA which will help boost the value of companies involved in PGMs. I'm up 20% since buying back-in on 20th March. SLP, JLP, and THS have all started upwards since 4th March. Non UK companies such as Anglo American AAL and Sibanye Stillwater SBSW are behaving similarly.

It could depend on what currency you have available when buying. The Toronto, LSE, NYQ and the Mexican listings all track each other when overlaying the SP graphs.

Tangible Gold. Gold's impact in a bigger picture involves who owns it, the USA at Bretton Woods in 1944 had the reserves and could call how the future would be i.e. the Dollar was backed by Gold. Being a reserve currency bestows many bonuses. Russia is actively trying to reduce trade using Dollars. China resents the Dollar's reserve currency status and the free gifts that it bestows, such as exporting its inflation. China despite its statements re owning only 2,000T of Gold probably has around 30,000 T looking at past purchases and their own production which is not available for export. Gold is where it is at when the day ends.

Sliced today and sold 152,833 shares at 24.7572p. Nobody can predict world events and there's been a hell of an upwards run, so its probably prudent to take some profits. Sliced a few of several other Gold miners today; with the thought that a retrace may bring a dip worth buying into. Who knows what will happen?

In Gold price of $2,408.74 this evening, should provide an entertaining dat tomorrow.

The dip

The rolling P/E for PAF is 5.9 compared to 12.8 for EDV.

PAF meets three of the long screens on Stockp.... whilst EDV doesn't meet any, though there's a case for holding EDV as well as other Gold miners as it appears that the rising tide is lifting all ships at the moment. There's an excellent article in Bloomb.... this evening "The Gold Market Hunts for Answers Behind Bullion’s Sudden Surge" which explores all the possible reasons for Golds rise, there are more than a few, but none really definitive.

Its been reported in one of the financial papers that Hedge funds "boosted bullish bets on gold to the highest in four years" as the price of Gold soars.

"Net-long positions in US bullion futures and options surged 13% in the week ended April 2 to the highest since 2020" according to data released on Friday.

Many Gold companies up today along with the record price per oz. SRB 0.72%, RSG 2.98%, HOC 0.6%, EDV 2.28%, CEY 1.44%, a couple down MTL 2.86%, WPM 1.38% (but up in USA listing by 1.26%). Among the US stocks HAR up 3.35% along with many others. Monday should be another rattling good day with its 1 year rolling P/E of just 4.4.

Another cracker has to be SRB with a P/E of 5.9 and rocket like upward momentum.

Eldorado in Canada up 2.3% ELD.TO

The ETF VanEck Junior Gold Miners GDXJ:LSE:USD up 18% in the past month, all bodes well for continuing upward trend, there's plenty of legs to run on the Gold bonanza.....

Still plenty of legs for this to run further higher. Now only waiting for some of the other smaller companies that are also under the radar to rise, such as RSG, SRB, (possibly even KEFI) and the bigger ones EDV, PAF, HOC, WPM . Some gems in the US and Canadian markets e.g. HMY.NYSE and ELD.TO

Touched $2,274.58 a while ago so everything is looking goooooood

Metals Exploration's PE Ratio (f) is ranked 6th out of 45 companies in the UK Metals & Mining market. After SLP 2.6, FXPO 1.9, ZIOC 3.5, BZT 1.3 and JAY 1.3

Gold shares out there which are producing right now and maximalising gains today. To buy in to KEFI at the moment would have to be a very long term punt; better a bird in the hand........

78% since my first purchase on 22/12/23, with an average of 39%. Although that may appear quite good, I'm genuinely puzzled as to why the SP hasn't risen faster. Listed as a Super Stock category on stockp.... with a low P/E of 3.8, and qualifies for 7 of the long term screens, which is an unusually high number. Still plenty of Gold available over the next four years. Maybe its just under the radar due to its small size?

Article on mining in a pink newspaper this morning "How Gulf states are putting their money into mining"

Https://www.kitco.com/news/article/2024-03-28/miners-and-silver-may-be-undervalued-gold-still-more-attractive

I was trying to cheer up Crystal after my earlier negative post.

Of the 75 buys and sells by directors they have been all purchases except for 3 sells in June 2021, and one other in November 2010. So a good vote of confidence from them.

55% of shares are held by the top holders.