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Tornado, ironic that gold hit an all time high this week (in sterling which is what counts for us) so doing exactly what it should do, just unfortunate that again in sterling, costs have nearly doubled, so while gold is great as usual miners are a disaster - they only really come good if gol soars and faster than inflation ( which they find hard s mining inflation is high). Shudder to think how low profits will be at a time of record U.K. gold prices.

Tony you are of course absolutely right about what matters. I looked up the Chan article, how do you interpret it?

I won’t as I don’t like timing the market and I think that gold will shoot up at some point. If you read my post I am happy to gamble on riding it down till then and put up with the possibility of losing the lot before that as I don’t want to be out of it shoots up

Bolland, the pickle is that Pallancata and San Jose are now losing money, Santa Maria and Snip are in the future and require investment in the meantime, with no payback for years, that is becoming increasingly expensive, Volcan is beyond them developing and hard to sell, which leaves Inmaculada which is actually profitable but dependent on new permits that we keep not hearing about. They are overall now probably loss making at these prices with 9 figures of debt. Of course if gold turned up they would be saved but for now it is in a strong bear market. Don’t shoot me, the board are worried, hopefully they are pretty competent and will navigate a way out, reducing costs and dividends…as long as politics doesn’t sink Inmaculada. Now I am sure many here would prefer wishful thinking but I am afraid that is how it is. The risk is anihalation, the possibility gold goes to $3000 and we all make loads. Who knows….. so if like me you are prospered to lose it all stay in for the hairy ride

Mia, I totally have made big mistakes in life, including perhaps the biggest sadly investing large amounts in Cey and Hoc, and blindly holding on despite my warnings, so far….maybe they will come good one day,tho I have my doubts about Hoc

Miz being honest and saying it as it is can of course be unpopular as investors of course want to hear that their shares will rise; unfortunately due to the inept actions, or lack thereof, from central bankers share prices are likely to fall further. Hochschild unlike Centamin is already making losses, and worse has 9 figure debts rather than 9 figures of money in the bank. Don’t shoot the messenger

If £/$ Rate was 1.43 as in 2018 before Brexit vote, Centamin would be in the 50’s. Without the recent fall it would be in the 60’s. The Price is so weak as it is making little profit at these gold prices and as gold fall further which seems likely will make losses. However as long as it stops paying dividends and conserves cash it should sail through to the uplands in 2024 or 5, just a shame it is another couple of years again

Gold in sterling within 2% of its all time high. Great for gold owners. Unfortunately for us miner investors costs in Sterling are over 50% higher which gets rid of the profit pretty much. The only heartening thing is that without sterling’s fall Cey share price would be back nearer 50p. However assuming it was a hedge against this situation turns out to have been a mistake

Well without sterling’s further 3% fall we would have tumbled even more, the real price has been continuously falling with the pound, while the nominal sterling price has held relatively steady so we have been falling less than we would. In Toronto we have fallen from 3.85 to 1.27 nearly 70% in two years, wow shareholder destruction. Sadly let’s just hope the pound falls faster than Centamin

Of course there may come a day when we turn back up, I expect 2023 or 24, or there may come a day when we hit zero in which case you won’t be able to by it lower or at all

As said will always be cheaper. They are in a real pickle tho if they make it through could be a great company, however the falling share price reflect the ‘if’

Seingred, great post, spot on, why I hold too without being absurdly optimistic

Can’t think why, but aren’t we lucky the continuing big fall in the pound is cushioning the continuing big fall innHoc, without it we’d already be in the 40’s

Gnome did you enigmatic end mean toss a coin, or that you thought it obvious? I thought it likelier you were suggesting gold would rise in this scenario, but if so what of Cey in a stock market that could quarter or halve from here, depending what happens with interest rates and inflation? Thanks for your wise words, as so many of teh knowledgable here, as ever

PS TIPS ( U.S. Treasury Securities at 10-Year Constant Maturity, Quoted on an Investment Basis, Inflation-Indexed), probably the most important metric affecting gold and our share, could rise considerably more, they made over 3%, 3 times higher than now, in 2008. However built into the high price is an expectation that high rates, and the accompanying depression, will knock inflation right back, Gnome may think the market has got this wrong.

Mizolgit I am not, I genuinely want to know what gnome thinks.
Most economists say that rising interest rates (tips have risen from -1% to +1.2%, an extraordinary rise of over 2% since the start of the year) mean falling stocks falling gold and faster falling gold mining stocks as hit by both. Last time this happened, though not quite such a big rise, gold fell from near $1800 to $1200 and Cey form around 100 to around 34p or three fold
But some believe in this time it is different and that in an economically challenged world investors may take the solace in gold and it will rise enough to even lift gold shares troubled by soaring costs and overall lower PE’s. Gnome leave his view enigmatically open, maybe because he thinks most possibilities equally likely, or because he is suggesting misery but is too sensitive to dot the i’s . Despite your snide remarks as usual I would like to know his wise opinion. And if I did know what he thought, Miz unlike you I wouldn’t have to pretend to ask for an answer

Gnome, which means gold will….what?
And what about gold shares

Slater, yes and an ill informed article, in my opinion, appears to know little about the company, what it mines or Maria Rosa etc

Nimrod, thanks for fascinating if rather look y article. All PGM metals forecast lower some considerable, so assume share prices too tho of course the very low PE shows holders selling/ lack of buying, in advance

Fark? “ To subject a website to a high volume of requests, such that the server stops responding”. Well this forum is still happily going so my few posts that seems to sadly predict Hoc trajectory better than most are not overloading it. I have plenty of ideas, or rather knowledge on the fundamentals, which are the key here, as rather poor and so have been bringing the share price down. You are respected and appreciated as all here of course so thanks.