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As usual moves up too far too fast and comes back. Hoc is a flighty and fickle share and we wouldn’t want it otherwise

Just to add 55% of the PGMs that Tharisa now mines now Platinum which sis good news as platinum is solidly rising. Karo if mining would now be 56% platinum and gold. Both good

Aren’t there 840 times as many Anglos shares as you suggest (420m)?

I make Karo basket $1460 today, so back where it was two years ago albeit inflation. As noted before it is only 15% rhodium and over 20% gold while Tharisa mine is over 30% rhodium and only 1% gold. At this rate Karo may become viable. The Tharesa mine is almost back up to $1600, where it was more recently than Karo due to Rh not Au So with good Karo news and the buyback begun this week I mad my first new purchase of THS in a very long time. Amazing that for only a few thousand pounds there was no live quote this is so illiquid - just see I got .7175 so I shudder to think what happens when I come to sell my over half million shares

Just needed to wait for silver break out which seems to be happening today, if closes here or above then the consolidation since April truly over and we should motor

It is a big shame management has not said why COO went and what it means

It doesn’t really matter, if dollar goes down gold tends to go up and so Anglo and vice versa so I wouldn’t worry about the dollar but more about whether you think gold will rise faster than the dollar falls. Our shares are now £2.55 in Centamin terms, real golden flip flop time but if gold moves out of the current trading range and consolidation, and breaks up not down back through the all time high, Anglo should go over $50, however maybe take some money off now and take/keep that profit in sterling imho

Yes share repurchase that pushed us up last time,…and….,many forget Karo is now over 20% gold so I make it’s basket already $1420 so maybe, just maybe… it will become viable if platinum and palladium also continue up which make 2/3tds, rhodium matters much less than at Tharisa

Pretty worrying so far if I understand it right , joined late leaving early but as fa as I understand big pause to get consultants in to see what we have?? Am I hearing it wrong

Indeed Prof. Sadly Hochschild has always seemed somewhat accident prone and still is. I wonder what has happened at Mara Rosa that he has gone and it las needs reorganising of structure and a 'number' of interim appointments?

I wonder why the COO has been let go so suddenly and also they are Rreorganising structure of Brazil and a number of interim appointments there?

Yes our money has more than doubled since the bid, in around 6 months. I wonder what Mr Tibbles etc who sold out did with their Cey money? I kept ¾ in Anglo but put ¼ in Endeavour Fres and Pan American Silver the first two have been excellent, PAAS hasn’t done much

Hux fabulous post on the importance of the story

On another note the chrome price hasn’t got back to where it was, it has only got back to where it was in now devalued dollars

In Centamin terms we are up to almost £2.50. We have more than double since the bid, golden flip flop time!

Great results today, partly thanks to Centamin,Anglo were smart to spot the potential with us:Centamin Production up over 10% to 117,000 ounces this quarter so soon we will be at the magic 500,000 a year helping costs and helping Anglo to overall lower costs higher ounces bigger profits and the higher share price, very pleased I stuck with it, wish we all had as it really is Golden flip-flop time-there should be a decent rise me think today

How does this affect Hochschild, thanks (or Is this post on the right boar?

Thanks, I enjoyed your big picture post: I recommend reading the Fourth Turning by Neil Howe and William Strauss; written a quarter century ago it was very prescient. My question to friends and colleagues over the last 5 years was are we in the 1920’s or 30’s; it seems now the 30’s, hence gold.

Pipedream, imho miners depend on three things, price of

a.gold,

b.quality of company and management, and

c.luck, though a lot of c. Is dependent on a. And b..

a. The gold price either topped or is taking a very necessary breather after a meteoric rise fore going further. I marginally favour the latter as we didn’t really hit exhuberance in May, China etc are still buyers, there are still the vast deficits the world over, we have unpredictable Trump plus we are at the nasty end of this 100 year cycle.

b. Miners are also very dependent on management, Anglo seems to have a good one and clever of them to buy Centamin which should improve the next figures. Again Anglo to my mind is having a well earned pull back after an over fast rise. Over at Hoc where I post a fair bit, I have been in for a long time for sentimental reason as Hochschilds are cousins if distant, the management are rather more iffy, often the quarterly reports show a problem here or there, it is like British rail with rain on the tracks, the latest figures affected by poor weather at Mara Rosa and their cash actually declining

C. Luck: so far Anglo haven’t had a mishap since we joined. Hochschild for instance are heavily in Peru that was disastrous for the share price and mining following the election of left wing Castillo in 2021 (the family sold a chunk beforehand) improved dramatically when he was ousted - good luck for miner if not population - . Then Hoc, partly perforce to make sure didn’t enter losses, put large hedges on so a third of output this year is sold at little more than $2.. More bad luck the political situation is becoming increasingly iffier.

So in answer to your question I am a holder of Anglo on balance liking a. b. And c. And not liking to time the market which research shows is not as good as holding a good company which I think this is cf Warren Buffet. Finally as we know economic forecasting is notoriously difficult which is why good management is so vital. Pipedreamer thanks for your insights and tolerance, people on these boards can get very nasty as when I kept posting how bad the Hoc situation was and particularly running out of gold and silver too, some were very rude - it fell 6 fold so miners are not for widows and orphans.

Temporary belief in Ukraine peace

Well let’s hope it is not a repeat of splitting off Aclara, which was done as a dividend so ended up actually paying for the shares that soon became worth less than we paid for them, I had to pay quite a high 5 figure sum which if done normally as capital would not have been the case