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Karo now viable at $1750, let us hope this rise continues and holds, Karo is now nearly half palladium. Tharisa mine o er $1900. Not surprising we are up 50% but if this remains real should be much higher

Bilbo, miners profits normally rise around 2-4 times the rise in POG depending on how big the difference between aisc and POG ie very low aisc miners rise more slowly, v high aisc rise faster as profits increase much faster as gold rises. hoc profits should rise 2.5 POG though reduced by hedges. So haven’t risen as much as they should have due to MR worries. However you are quite right that overall and over longer term it is POG that matters most to us

Oracle I compute that it is fair value now at about 240, if MR produces roughly 60k oz at much higher cost. When MR is sorted out AND the hedges/collars reduced AND new developments around Pallacta come on stream and/or if PM’s rise it could jump. I have no idea when that will be so I just sit back and hold through the ups and downs, as always said I am not a trader.

Onedb, the market is suggesting when the Mara Rosa news comes next week it won’t be great; problems like this often get worse before they get better, also so far no news of a new boss or top team for it. Anyway hopefully more clarity and hopefully some of the bad news is already in the price so if it is bad the share price will only fall to maybe 230 or so. Anyway it could be brilliant, the market could be wrong and we could soar. I have no doubt that it is worth holding as next year should be much better imho

Mara Rosa may be down a little more, company expect output to be a bit below that bottom estimate so I am going for 330koz and remember they say costs will be well up and a third of those ounces at the hedge and collar prices so about 220k oz sold at the prices you point out. Still very nice but IF Mara Rosa output recovers next year and so costs come back down could be great. As always promised jam tomorrow.

Basket $1800 Tharisa, even more important $1650 Karo which becoming a goer. Ilja it seems was right, just a bit early

Wouldn’t we all. Tharisa PGM Basket now around 1800 and Karo 1650

Thanks just noticed mine a couple of hours ago from ii who are very efficient and reinvested it

What analysts say can translate into anything

Gold gnome much is off topic but not this. It affects not only those who just want to lead a productive and good life wherever they may be but the price of Gold and so Anglo the point of this forum. The metal is in the summer doldrums so it will be interesting to see if this lifts it from its slumbers or it doesn’t react up other than a quick knee jerk so down.

Neither of you needs to be an arrogant muppet. The truth can lie somewhere between. The likely output of MR is likely to be something around 60000oz this year,ans expecting lower oz for second half, as analyst suggested. With the much lower ounces mined the aisc is likely to be a good bit higher. Whether MR will be turned round and aisc come back down is a big question. Unlike other miners Hoc is not churning out the cash to give decent dividends nor is it likely to this year, hence the deserved and about right valuation. Until we see if MR recovers, probably not till next year, it would seem we are valued about right and our share price is dependent on the rise and fall of gold and silver. Hoc does not deserve a higher valuation when so accidentally prone year after year. Finally I paid more in tax than the Aclara dividend was worth the way it was structured, and other unfortunate, so I would be much better off if I had never been {given’ them. PS being given something when you pay more than the value of it is actually I believe not a gift

Still no ii divi?

Well done Paul, Anglo are worth round £2.65 in Centamin money today .so anyone who had their shares when the takeover was announce and held them till now has more than doubled their money in a rather short time ,so a great idea. I just wish th likes of Tibbs etc had held, or have at least bought other shares that have more than doubled, golden flip flop time tho my other big holding Hochshild is currently 'doing a Centamin''

Interesting that in latest AGM rns virtually 100% (99.85%) supported the reelection of Edouardo Landin, whereas an unusually low just over 80% votes for the reelection of chairman Edouardo Hochschild. No worry Oracle, one of the better analysts today said more like 60koz from Mara Rosa this year, ie second half no better despite weather improvement.

I think it is highly likely that Marshall Wace is involved in some much more complex long short strategy

On another jolly note Berenberg raises Tharisa price target to 180 (130) pence - 'buy'

The Karo basket is up to around $1550,. I think we need PGM to rise by about a third from here for Karo to be a viable money make. This is not impossible, the difficulty is if prices gets sufficiently high to build Karo it will take years till full production by which time, given the nature of the cyclical market, prices may well be done again. However, hopefully it will be enough to attract outside investment. A good thing is that the Tharisa mome itself is already making money at these prices although a lot of that that is poured down the Karo hole and other shareholders .(not us)

Ps last time I bought was Apr 6the when price was 239 but rose by afternoon to 245 from memory so just like today

Thanks Auson, great relief if it holds, as said I am not selling as longer future looks bright although unlike others I haven't topped up as I already have over 50% of savings in Hoc which is crazy already

Punter £2 in the near future particularly tomorrow is highly unlikely. A 25% hit to profits, which this is, broadly means a fall to to around 225p, it may overshoot as the company has as usual been very remiss with comms and also letting yet another disaster unfold; on the other hand after a few weeks it may pick up a bit in expectation of a bit better 2026 and quite a bit better 2027 as long as Mara Rosa looks soluble, but if it is soluble why not tackled sooner? Of course a 25% rise in gold and silver to $4000 and $45 should bring us back where we were. how disappointing