Member Info for Phoebus

Brent just plunged another 4%!

Noix, thanks. Should read CAD$25.22M or £14.5M.

Given the macro backdrop markets may still have a lot further to fall especially if this starts to morph into another banking crisis. According to last results ECO's net current assets per share as of end 2019 was CAD$22.55M or £14.5M. With 184.5M shares in issue this equates to 7.85p per share before additional dilution from any options exercises.

https://investegate.co.uk/eco--atlantic--o--38-g--eco-/rns/unaudited-results-and-corporate-update/202002260700031197E/

TSX seems to have the jitters again reaching 22.45p. Not sure if it's just the wider market action or the likihood that the opposition have won in Guyana.

or 46c.

Agree 100%. Also heavily cash weighted as of last month. Are you referring to gold metal ETFs or gold miner ETFs. There are quite a few of both types on the market. Use GJGB myself, a GBP based equivalent of the GDXJ junior gold miner ETF. Not sure about gold metal ETFs.

It looks to me like now is the time people should be in cash across their portfolio and staying out of the markets altogether as it's beginning to look like we could be on the verge of a re-run of 2008. Plenty of time to get back in and plenty of cheap stocks to chose from once we know what we're dealing with. Sitting and holding all your positions at this juncture could be very costly indeed no matter the stock. Best of luck.

Thanks Boris/Sunak for the unfettered spending plans. Cancelling useless HS2 would be a start. Hope we don't get another waterfall collapse in Sterling as per last crisis. With Germany hinting at unlimited spending yesterday I expected the Euro to get hit, but no, Sterling gets whacked instead. Still expecting the Euro to drop to the 70-80p range in the next few months.

'Total and Eco can proceed on their own' Seriously? Give it a rest. Not only are TLW the operator, they hold a majority stake in the licence and until that changes nothing will happen without TLW's say so. In any case, they're ahead of licence commitments and pausing for a year or two between exploration rounds is perfectly normal, so there are no grounds for junior partners to force TLW's hand, even if they had a controlling stake, which they don't.

That's not the worst case scenario.

ECO holding up well today despite big drop in markets although TLW is down 10% to new all time low.

Not surprisingly Brent is continuing to sell off. Will be surprised if it doesn't take out the Feb low of around $53 given how the global economy appear to be deteriorating. Should drive the markets lower and gold up.

Death toll soared to 50 in Iran.

https://www.zerohedge.com/geopolitical/iranian-lawmaker-says-50-have-died-coronavirus-outbreak-qom

Exactly. How will markets look if parts of Korea, Japan, Italy, Germany, France and UK are on lock down? Not pretty and gold will roof it. Might only be a couple of weeks away so stay safe out there.

Agreed. Looks like a few folks just couldn't resist selling a few as round figured 30p was hit. Bit sad really. Fully expect gold and gold miners will continue to skyrocket until the spread of the virus outside China is fully under control, which may be a long way off. Add to that the macro economic and monetary backdrop and it looks likes the perfect storm has arrived for the gold sector and HUM is in great shape. Remember that gold miners soared in the great depression even as the rest of the system went of the cliff. HUM could do very well indeed. GLA

Did I miss something? Gold and gold stocks on a tear today and GDP is near 20% off day highs? LOL

Good old enter key. LOL

with TLW getting awfully close to a new multi decade low. With the virus starting to accelerate outside China the global economy and wider markets are looking ever more precarious. Hardly the best time to go full throttle with exploration spending is it.

close to along with crude and wider markets. TLW getting awfully close a new multi decade low. With the virus starting to accelerate outside China the global economy and wider markets are looking ever more precarious. Hardly the best time to go full throttle with eploration spending.

And now down for the day touching 0.57c or 33p. Hard to know what to make of it when it behaves like this. Good old TSX.