We would love to hear your thoughts about our site and services, please take our survey here.
Will we close the week above 30p?!
It's weird that both usd and gold are high at the same time. Some analysts think it is a short lived situation and the pog will go lower. I'm not so sure. Global debt levels are high, unprecedented outside of wartime (world war time), especially USA.
USD strength has little correlation with US debt; British sterling remained the reserve currency for a long time after British geopolitical decline and high debt back in the day.
Let's hope so. I only have a small amount of shares, I was tempted to add more when were at the top a few years ago, thankfully I didn't, this has been a rough ride.
Sell off in Price of Gold today, had to be expected at some point.
Come on Big Jim, get this over the line!
For any newcomers here are some reasons to think Calibre is the leading bidder:
1) they are already well established in Nicaragua
2) they were busy completing a previous acquisition until earlier this year
3) they have just raised further funding of $115million and indicated they want to expand in Nic (although it's unclear if this is through expanding existing sites or acquiring new ones)
I've thought Calibre were the most likely buyers from day 1. But obviously if they have made a bid it has been on the low side; maybe rejected by Jim; and hence why they've raised the extra money.
This is my obviously very speculative reading of events!
I think with big jim in charge 45p is the minimum. Maybe more between 50p and 65p. If Calibre maybe some paper.
Gold still doing well overall. FTSE selling off with Iran tensions. Condor up today a bit. IMO markets have been complacent about the Middle East crisis, whereas gold started ticking up from last October; it has a more prescient quality.
Longest period of radio silence from Condor since the (attempted) sale of the company was announced.
Easter hols can be a big thing in North America, not so much China, but if Calibre are going to make a move that could explain the wait.
Needs some actual news to stay above 30p. Otherwise it will bounce back down. Sentiment can only go so far.
Gold price is a factor I'm sure, but the main reason for a higher market price for Condor is by having a bidding war between 2 or 3 bidders. I've no idea if that is happening.
Gold also looks overbought if interest rates are staying higher for longer. But then again if Iran and Israel end up in a war, it will go higher regardless.
I think 50p to 65p is realistic without a bidding war.
To be fair there has been very little in communications from the company for the whole of the sale process. So I wouldn't read too much into that.
Happy birthday in the meantime!
I seem to recall taking a bit of a haircut with FRES a few years back.
Pretty much none of the minors, juniors, mid-tier, or seniors, have performed well in terms of SP over the last few years.
The main reason: they've been in a bear market, despite the POG generally going upwards. This holds for US listed miners as well as UK ones.
Saying that Condor hasn't been perfectly managed but that's the case with most prospective juniors.
Maybe the tide is turning and the long awaited bull market will materialise. If so, the FTSE will start to do well again and all these companies threatening to move to the US like Shell will stay.
Seingred, I certainly hope you are right. Interesting to see stock markets are now getting wobbly given the interest rate cuts may not happen given uncertainty over the oil price.
Gold has held up well so far. I have a lot of my pension in senior gold miners so hoping the price of miners will start to catch up to the POG.
Lots of unhappy Shanta LTHs. They have been shanta'd on.
I'm in two minds about the recent rally in precious metals. Whether it is the start of a long term bull market or a fool's rally orchestrated by hedge funds. Saying that, the miners look undervalued even if the POG receded 10 to 20 percent. The Shanta deal price is very low for LTHs that's for sure.
Difficult to tell with Precious Metals at the moment. I suspect they are overbought, maybe some older investors trying to chase the gains that btc has made. But it's just as possible that gold and silver can collapse as well as btc. Looks overcrowded esp when you see hockey sticks on the charts.
Saying that Fres is relatively low in the grand scheme of things. Probably worth a punt. But as PMs have largely gone up in value over the last 20 years, esp POG, they can seduce investors into thinking they are less volatile than they actually are.
Mellon is a trader/speculator he will be trading until the final bell tolls. Mark on the other hand I expect wants a nice retirement.
Mellon makes the final call. My preference would be cash. Over the last year the Chinese have been heavy buyers of gold, partly because the property bubble there is collapsing plus geopolitics. I like Calibre but would prefer to put the money in more established miners via my pension. But each to their own. GLA. Hopefully some news this month.
Unfortunately there is no meaningful Plan B, i.e. production, so no leverage if there is only one meaningful bid. Hopefully Calibre have raised the 100million to buy Condor; and even better would be if a Chinese company also wants the assets.
I don't know, maybe 60p later this month GLA
It's a case of who blinks first. Mellon may think the bids thus far cheeky, but the bidders know that as time passes, the company's cash reserves start to run out and Mellon may again have to inject more of his own money back into company.
It seems there is little appetite for a bidding war, which is what Jim and Mark were hopeful of.
Gold has done very well but that hasn't fed through into the share values of gold miners especially juniors so there is no uplift from there either.
This is why the inability to actually start mining is a real drag. Looking at this whole sale process, it just seems weird now, it's taken far longer than expected you wonder if anything is actually going on.
I agree, lots of upside. I owned this share a few years back, then sold out barely breaking even, but at this price, it's very tempting. I see Stanley Druckenmiller has moved some assets into precious metals and started selling off some tech stocks.
PM stocks have acted similarly to biotech over past two years, basically been very neglected.
Gold leads the way. Near all time high. Big disconnect with silver price, and gold miners and PM miners in general. Either gold price falls or silver and miners go up. Situation can't stay this way forever.