George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
Moneyman, the concentrate 42% was over 300 in Sept and near 310 in May but has been paused just last few weeks on its apparent staircase down at 282.5
However HC Feerochrome 50% has come down from near 330 earlier in the year to 255 on the THS weekly figures, and down nearly 2% just in last week probably halving profit from this? The big question is whether the trend of this year continues but I see no reason not, while rhodium has hopefully found a floor (though not platinum or palladium)
So will final divi be down to 1.5 c? PE looks below 3 but looking forward that will increase and if chromium continues to fall further by quite a lot unless the share price fall further? We are in the hands of pgm and chromium prices
What we have to hope8# that gold repeats its rise of many years from Nov to spring/summer, so far so good, these are rises from end Nov (ie as now) all approx
2015/16 +20%
2016/17 +13%
2017/18 +20%
2019/20 +30%
2022/23 +15%
No impediment at all to taking over Centamin(at the right price) as Endeavoir tried (but not thought enough) but as I was saying and you point out they only get half of Sukari which they have to share with Emma which might put off many large miners? So we quiet agree
And about an eighth of that in profit less non Sukarno capex but still nice. Profit nearing £100m PE 12 spot on historic average. So share price right for where we are now. Let’s hope gold rises, aisc rally falls, output really rises oh and what was that large pink thing tailing a q that I just saw flying over the deser….Maybe it will all come true ….
Mike looking again the future hedges are gold, a bit under a quarter of it if production rises as expected, but at quite good prices, and the silver hedges were great they seem prescient, presumably to make sure Maria Rosa can pay back its debt. However silver output is falling as Pallancata closes
HOC Hedges
4m oz 2021 $27.10
4m oz 2022 26.86
3m oz 2023 25
50k oz gold
2025 $2117
26 $2167
27 $2206
Actually Noel I think Hochschild has come alive, risen from the dead. Nearly doubled and up 10% in a week. It anticipates price moves. So should begin to anticipate the next one. Also remember a chunk of their solve is hedged and anyway less silver than gold so it is the gold price expectation that matters most for future Profits Enjoyin the ride
When I looked on THS investors website investors section just now said 4th Dec but maybe says something else elsewhere? Chrome coming back a bit, but should at least have given us decent profits this year making up for some of the PGM tumble for now
Agree Mr Bond if they find more gold our share price should soar, but till they do or gold soars or they increase ounces or reduce costs, rather than everyone predicting these things, Cey is fairly priced on expected profit. Let’s see PE next month, historically Cey has been on around 12 so if Cey makes around £200m before Emma share current price would be about fair.
Well if he says it for long enough maybe one day he will be right like the clock, but over the last few years sadly his calls for great gold rises haven’t struck the hour. I am really hoping his hour will come in my lifetime if only by random chance but at least he keeps some of us hopeful even if gold has, inflation adjusted, failed to get back to its price in 1980. So I hope that Cey reduces costs as promised and raises output as promised, a real rise in gold price would be the icing, but gold is as likely to fall as rise, depending on competing homes for money and investing fashion, despite Andrew’s ever hopeful conspiracy theories, imho, remember Occam's Razor, the simplest explanation (ie fewer buyers than sellers) is usually the best, but at the nasty tail end of the 10 year cycle conspiracy theories always abound. Some may even be right.
Steve we quite agreed about Horgan’s obfuscation about the share price at the presentation, if using different words. So excluding gold rising or falling from here, as you point out here, the big question is if/when profits will rise which is when ounces are met and then rise and AISC is actually seen to fall so could be at results but really for profits and shares to double more like a year or two if happens imho