Autonomy. Not great but entirely as expected and year is still spot on guidance. Expect a drop as Hoc etc on this albeit expected news and then a v quick recovery so great buying opportunity unless market has this news baked in as they should have. However like Tibbs don’t see the share price falling as suggested here yesterday back to £1 on the news though I think $2000 gold this year is just as likely as $3000 though I hope for the latter so Cey could be £1 later in the year though it could be £2 albeit less panglossian than Tibbs I think the former perhaps likelier but ever hopeful too
Noel very hard to time right, yes this is overbought but it has had a bit of a correction and has been having another stab at 150. I will hold, not mining if it falls 20 or 30 p as long as it then resumes its ascent and goes way above 150. Hindsight is easy, but if you don’t have a crystal ball with this market as fickle as it is I would say just hang on for the emotional roller coaster ride
Dear Tibbs don’t shoot the messenger, I appreciate newspapers that still report both sides of a story, bulletin boards with different views and that Kitco still does this. I have been reading reports from a number of banks and commentators that have suggested gold is heady and will fall back much as she describes. It is healthy that they do as it means there could be further to go. The market is made up of buyers and sellers, some follow and believe in Maguire, and conspiracy theories others, also here, don’t instead believing in supply and demand, for instance citing increased Chinese buying for the rise. Some think there is insufficient gold and a manipulated price, others look for who is buying and selling and why. I certainly don’t know which way gold will go, nor do pundits. My economic knowledge along with the likes of Gnome etc here believes the financial situation will ultimately push gold higher. So anyway thanks to Kitco for reporting ABN Amro’s report, and maybe write to its authors at the bank not Kitco whose broad reporting is much appreciated by some
3bear we all hope so but when markets collapse, as we have experienced before, holders can also sell gold to raise liquidity, or buy it as a hedge; gold is marvellously fickle a bit like the spouse, always keeping one on one's toes as for any action the reaction may be unpredictably one way or the other. Above all we have learnt not to count our golden flip flops before we have worn them so to speak.
There was a good FT piece yesterday by Rana Foruhar headed'Gold is back and it has a message for us' , which inspired me to buy a book it mentioned 'The New World Economy in 5 Trends' by BNP Paribas chief strategist Fortis Philippe Gijsels, and the chief economist Koen De Leus which predicts gold running to $4000 in the not too distant future but who really knows. Anyway I will read it.
I bought more Fres this morning as they have a greater proportion of silver than Hoc that is now mainly a gold miner and becoming increasingly so with the opening of Mara Rosa and the loss of Pallancata. However I still have 70 times more Hoc. Hopefully silver will have another go at $30 after a healthy retreat, taking Hoc through the psychological 150 barrier.
You are broadly right. Aisc constant $1400, 1800 gold profit 400, 2400 gold profit 1000, but of. course aisc moves too (usually up but perhaps in our case down). So if this gold price sticks our share pricee should rise…..if
As posted there would be a a pullback from 150, as a bit of a challenge. That has now happened and we should have a not her go. The market is so buoyant even though the price is a challenge we might break through it now or shortly and carry on up. I think the market thinks Hoc is still an unhedged silver miner (happily for the share price)
I for one am very happy with the buyback, Tharisa is a thinly traded share with low volume so 5million buyback is a plenty, particularly given the investment need in Karo. I bought more posted here at 48 and 52 after a number of people on these boards worried about Karo and the price took a further tumble; a combination of a bit of PGM recovery and buyback has increased those by new shares by 40% and a third so can’t complain. The daily buyback amounts can’t be huge given volume.
No
Well we got to 150 so bound to pull back a bit
Thanks, did them from jmat which is showing $985 and $1073, whatever isn’t it lovely
Having bought more at 48 and 52 as posted here, I have done a bed and isa this morning. I make the basket now 1450 Tharisa and 1300 Karo, which is now 16% of potential profit from gold.
3bear. Share price looks forward, mining investors having been caught out so many times don’t entirely believe the bull is back….yet, plus probably expect a pull back first even if it gets going so expect like Tornado they can buy cheaper. They may be right they may be wrong but if wrong Cey has a long way to go so I hold
FYI very approximately if my sums are right we are heading down to around a third silver now, with getting on for two thirds gold.. Also worth noting that this year over half our gold is hedged or has a collar, and from next year around a quarter. On 12 April 2023, the Company hedged 27,600 ounces of 2024 gold production at $2,100 per ounce, on 19 June 2023 the Company hedged 150,000 ounces of 2025, 2026 and 2027 gold production (50,000 per year) at $2,117, $2,167 and $2,206 per ounce respectively, and on 14 December 2023 the Company hedged 100,000 ounces of 2024 gold production using gold collars with a strike put of $2,000 per ounce and a strike call of $2,252 per ounce. So we will have to wait to 2028 to take full advantage of the new prices but it was maybe necessary to protect Mara Rosa profitability and paying back interest?
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Lovely super optimistic article, shame he doesn’t know more about the company. The family reduced their 50% holding a few years ago now at around £2 before all the Peruvian politics led the company to tank. The company have had Volcan now for many years unable to exploit it, it is now moved into a subsidiary Tiernan prior to seeing if they can possible get anyone else to develop it, but has been pretty worthless in the share price for many years. Yes the company is in a better position, and yes although the extra debt, to buy much needed Mara Rosa, is heavy in these high interest times, luckily saved by rising gold - they had to borrow and buy more output as badly needed to replace lost output that looked very dangerous a few years ago. I remain a holder and ever hopeful, but would not base my investment decision on $3000 gold till we get there. At that point inflation will have pushed aisc higher. I would expect the share price to be 2.5 to 3 times higher at that gold price if stabilized there as usual multiplier on profit of around 3x the gold price rise, though this multiplier shrinks as gold rises further, all imho
R1234, just so, the secret to happiness is indeed count your blessing ….and love your family, but many don’t have one so I have two similar but different mantras, stuff happens to everyone, dumped, fired, collapsing shares, so don’t get bitter and twisted (like count your blessings), and secondly be loyal, to your family, friends, ideas, beliefs (like love your family but more as we live in an increasingly atomized society). The relevance to holders of Centamin, Hochschild Tharisa etc, and now Fisker shares and cars, is getting bitter and twisted doesn’t help, though as Steve Jones might point out the loyalty list does not include shares. At least Cey and hoc etc are finally rising again and asR1234 says count your blessings, and let us hope this is just the start, Happy Easter all.
Have there really only been 2 share trades in THS in London market today, both over 5 hours go nd before 9am, talk about thinly traded, the buyback should have quite an impact!