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As expected poor RNS and drilling for new targets that is purely speculative. However there is no reason we shouldn’t sit around the price before Agnico took some of Newmont stake as a tiny gamble for them, other than should be a bit lower for the share dilution imho. I wonder how much of that fall will happen today, as said now a pure gamble on finding something better, I am hopin so but could be quite a wait if ever but if we ever do price should rise imho

Yes silver is up 60% in a year (in sterling that counts for our sterling share price) but Hoc’s major metal gold is down 6%, which helps explain the share price only being up about 40%, but that is from a Covid low. Argentina likewise is much smaller for Hoc than Peru and has its own political problems. Finally I don’t think any insurance covers you against rising tax, mine certainly doesn’t. But love the sentiments, Castillo is a teacher and educated which is why he wants to raise more money for the desperately needy Peruvians, and taking some of the mining profits seems a way of doing it as long as he can do so without damaging the golden cow.

Ho’s spokespeople have made clear he doesn’t plan to seize mining assets

He is talking about reversing the split so instead of 30% tax and company keeps 70% company keeps 30%. However Biden wants to increase US corporation tax by a third and Sunak in UK by 30%. Someone has to pay for Covid. Castillo’s plans are likely to be tempered by Congress. However as said for months Hoc is very risky operating in 3 countries where tax, polical risk and capital controls are all dangers. Hopefully just as the market hasn’t really noticed the politics it still thinks of Hoc as mainly a silver miner so rising silver will save our share price

Noel thanks for the link but I think it may be written by a right wing nutter as he likens Castillo to Biden “ In a debate with Keiko Fujimori ahead of the June 6 runoff, Castillo said multinationals should expect to leave 70% of their profits in Peru. Which is just a little bit more than what leftist president Joe Biden proposes they leave in the US.”. He has made Lear he is not Chavez, he will not nationalise like Chavez, he will spend more on education and forgo his salary, and halve lawyer’s pay to help pay for it, wish politicians here did that

Tiger, exactly; all the Kitco traders being simultaneously down on gold is not so much ‘not necessarily a bad sign’ as in my book it is a very good sign as said this am. When everyone is negative is the best time to buy and as said I have never seen it on the KITCO Friday survey before. Ever hopeful…although gold is a fickle mistress

Exactly, so as said a positive sign for me!

I don’t think the leading candidate for presidency is bluffing at all, in fact he is tempering what he is saying and I think it is very real and interesting. Peru is very poor, he is from a gold mining area and sees the much bigger profits most miners (not Hoc) are making and wants some more of it for the poor. It is a balancing act to get more money in for his promised health and education and not frighten miners off, but I hope that for the Peruvians he succeeds as he is much better than his far right opponent who has also promised to tax miners much more heavily. He has also wheeling back and has made quite clear that he doesn’t intent to nationalise or expropriate miners just get the biggest share of the profit he can. He will have a new Congress to contend with who will limit what he does, will have to be careful not to tax so heavily miners are frightened off, and quite a lot of this is already in the share price, although it will probably do a brief rocket down if he wins, Bustamente was pretty sanguine at the last presentation. So as a Hoc investor I would like the very right wing lady to win, as a human this teacher who has only stood because of seeing how his pupils suffered. I hope my humanity wins if my purse will suffer

Yes Razor, and not just what you read about gold falling; I suppose the only positive sign is that for the first week since I can remember on the KITCO survey, not a single Wall St trader thinks gold will rise, so if absolutely everyone thinks it will fall, and sentiment the gloomiest I can remember, maybe the dear contrary beast will turn up? It is certainly a contrary indicator for me.

So far the boards hedge on expectation of silver falling seems pretty prescient as do their share sales. The good thing is that around 15% of our output is hedged silver, 60% gold that shouldn’t fall as much as silver, and only 25% is exposed unhedged silver so hopefully with our strong balance sheet we shall survive and if we can find more gold and/or silver that can be extracted at reasonable cost, soldier on and eventually thrive. But it must be pretty tough on management, as on us in the meantime

I keep saying I do not sell now as I am prepared to risk losing for the much bigger upside. Makes perfect sense to me and I am the one holding, plus I am still up overall near 50%. I agree with John1970 that gold should be substantially higher in 2 years which means if Orosur exploration is successful even more upside. Just that I think gold will go lower first and who knows how successful exploration will be or when

Tiger tell us what you think of these; I often feel like an interloper here as I only bought THS because you pointed it out, but love the share and enjoy crunching the somewhat indecipherable numbers. Far better than the miserable Hoc and Cey, particularly as gold and silver seem to be heading back down. Amazing that rhodium is trying to poke its head over $30,000, even as carmaking reduced by lack of chips, I am hoping it will make it into this new territory very soon.

Hyper marlin. To my mind it is a gamble so 29p in a month 6 months or a year are 50% possible with the likelihood greater as time goes on, and of course could go far further than that on great news, and never return to 29p but drift steadily down is 50% possible. So either wait what could be a long time, if you can do without the money and are prepared to lose, or sell if you need the money now? Or if you can afford it why don’t you keep half. I can see we might go down to the level before Agnico joined Newmont, as nothing seems much different though we did get some good drill results and hype in the autumn and used that to raise a very useful few extra millions cash so we can keep burning it for a while, but that diluted the shares so each one represents less of the company. Sorry in a normal company you can discount future cash flow and profit, we don’t have those. So finally I think this is more likely to fall back than rise back to 29p even over quite a while but if you can continue to hold do so, I do, as the possibility of making 5 fold is equal to losing it all to me, so for me worth the gamble tho my expectation is losing most of it

Very sadly it won’t get anywhere near $30 this weekend, sorry.

Tiger it may be the next results beyond the May interims that get lift off, as the hight metal prices of the last few months will give even bigger profits then

AISC should be considerably lower in 2023, and hopefully gold way over 2000, in the meantime we have a decent divi, particularly at this halved share price, to keep us going till the sunlit uplands....

100notout, I hold because HOC is a gold miner with some silver, one third hedged, gold will probably fall more before it then rises substantially, but I don’t want to miss out and don’t like trading so happy to hold through the falls in anticipation of better times

Yes and Hoc up 40%, but then Hoc is mainly a gold miner now and gold is down 6% in sterling that counts for our share price over a year, so 60% silver sterling rise and 6% gold fall is overall about 20% more revenue, take out extra costs and 12% more on revenue (both if they had been mining fully last year) and that means profit up about 36% so price about rightimho

SPINDLER sadly the way this could go sub £1 is if gold falls and back through $1685 which many gold pundits have predicted (tho as you know they are rather less reliable than tea leaves) making new lows before it turns and goes back up; hopefully well hold the lows of 84p a couple of years Gai and even more hopefully not even visit them. SHAKX7 yes the dividend is down as profits through 2021will be quite a bit down and probably not even cover the reduced divi ,which at an expected 3c + 6c is pretty good, given our fallen share price still 6%.
2017 16c
2018 12.5c
2019 7c
2020 12c
2021 expect 9c

Thanks Webb’s, however you never know that it was a double bottom till after it has gone back up, fingers crossed that it is rather than on down…