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There is no way vast Anglo will make 9% less profit from buying cey at this price so I imagine Anglo price will begin to recover and so cey rise as well tho not buying more of either

Steve. Well not now. The market is factoring in a big drop in Ashanti as they are offering a lot for Cey. However hopefully Ashanti shareholders won’t be as disappointed as the market expects. If Ashanti receives and Ashanti goes to 160 I will start selling in 50 or

100k chunks plus have near half in ISA/peps that plan to keep. I would say a buy at current price but I won’t either as have plenty

Where is your comma Steve? X

My fingers are itching till 8am, can it be real, I have 40% of my savings in Cey as put many eggs in this basket with Horgan’s corporate history and believing in gold. Wonder whether Barrick might possibly follow?

Steve you always hit it on the head!

What will Cey open at?

Depends a bit on how Anglogold shareholders react and if they think overpaying.

Wowsers!!

IF Ashanti shares don’t fall this am, as they well may, it is a fantastic offer as can sell now and put in another goldie so still benefit from gold’s rise but with more shares, or keep the Ashanti. So now let us wait till 9 o’clock to see if the market thinks Ashanti has got a market and sends us a premium or more likely thinks Ashanti overpaying and our price rises a bit less than we hoped. Wait till 8am

Me too, it is wonderful and as hoped for, for years, finally!! We are off this morning to buy a new cooker, dishwasher and washing machine for our Italian place we have inherited and just arrived in yesterday, and the other half says now nothing but the best!. . Best we can sell the shares before budget to get the cgt in. What will we open at 163 or more or less?

Then what happens without buybacks to support the price that has led to a near doubling?

Yes I bought more this morning too but a penny more than you, it seems to me the fall is quite fair - still no dividend, still a huge hedge and still loads of debt, but I have done so in anticipation of next year

A. They suggested they would announce a dividend, because of higher debt they haven’t

B. Figures aren’t as good as they look as half of production is hedged this year at prices hundreds of dollars below the current spot

C. So this is an expected reaction to reality

D. If gold stays up (they are mainly a gold miner now, something else the market doesn’t seem to have noticed) next year should be good and the price should rise

Gold tends to go one way on these occasions, as punters close bets, then tother to catch us out

Noel, big questions, is this a double top in Hoc or will it keep going, a lot of people are beginning to talk about how gold will rise which can be a bit of a counter indicator, and in the shorter term how much we might be penalised when our results come out next week as the market sees how much the huge hedge is holding our financials back?

Noel, as we well know none of them has a clue, economic forecasting is almost impossible, often counter signals, ie when all say it will rise all are in and it falls. See superforcasting book a collection of knowledgable amateurs like us tend to be better. I am all in as hoping silver will rise, though the smaller Hoc profit increase due to the huge hedge doesn’t dent our share price when financials come out. On balance PM’s seem slightly likelier to rise but who really knows where interest rates, inflation, central bank buying of PM’s etc will go

Yes indeed, also worth remembering how much they have hedged at prices a fair way below today. 50k oz a year till 2027 and another 100k oz within a collar so only around half exposed to gold rise - they had to do it as you say to make sure of meeting debt repayments if gold fell with their gearing. This is from finals “ 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.”

Goldgnome are you posting this because you expect repercussions in Egypt to affect Centamin or the gold price, and how? All best

Gold Investor already down to $257m at end of 2023. Gold is now back at all time high and Hoc is mai ly a gold miner so whoopee, debt not huge and has been wel worth it to build Mara Rosa at just the right time imho

It was a reply to your post yesterday eve saying “The company are paying a high interest on the $360 million loans outstanding”, I just wondered where you got the risen figure from; you also said “ The likelihood of a dividend is low while net debt remains stubbornly high.”, so I womdered why you think they suggested reviewing a dividend payment in the results this month, ie the PM price has stayed up so why would they have said that if couldn’t afford to review it? All best

Net debt was over $100 million lower than your figure last December and should be lower still 8 months on, unless you have info that the new investments have increased it again. We shall see in the interims later this month. The board also said that they “ will reassess the potential for capital return at the interim results in August.” So finger crossed on both fronts. I expect a small dividend as I imagine does Edouardo

With Pallancarta and Arcata running out they badly needed to invest to get new mines, hence taking on the debt. Now Mara Rosa is already up and running and shows that was a good and v necessary strategy imho. With the cash now pouring in again debt should be falling, we shall see in the finals later this month. If all is good, we should also see the dividend recommence, albeit at a low level to start, which should also help the share price. However, now the political improvements that have helped Inmaculada, and the new investments, should be priced in so we are a big play on where gold goes (remember we are only 20% exposed to Silver). In the long term gold tends to keep pace with inflation, in the short term it tends to move inversely with real interest rates. I believe it is more likely that these will now fall so gold will rise, but no one can tell the economic future. On balance I believe in Hoc, so much so that I bought more on Monday and Tuesday and again this morning. I hope that this helps, but I cannot advise you.

Thanks Kando, hadn’t thought of that angle, better buy a few more Cey on the offchance