Member Info for speedymeadie

Hi Stella. Peter is good at what he does and is very bullish gold/silver. Info from COMEX trading is in the public domain and the COT report is available for all to see. The info is always last weeks news and reading and understanding the report can been challenging. The general trend is seeing the banks under pressure and longs getting the upper hand. ATB Speedy

Hi All. As of last Tuesday the banks have not managed to close many more short contracts and are still in the hole for $20billion ( this sounds massive but is nothing compared to their past profits). What is interesting is the fact that producers have almost stopped hedging. Another point of interest is that nearly 60tons of gold was taken out of inventory for physical delivery to HNW individuals and family offices. The banks will not be able to defend their positions for much longer at these prices and i see a step up $2100 being their next level of defence, how long that will hold is any ones guess.
I think Newcrest will soon announce a higher level than $1400/oz for production profit calculations. ATB Speedy

Hi Paddy. Great to see the progress. The scale and costs of developing a mine of this size are mind blowing. So glad we are JV with the leaders in this field. Trying to go it alone would have taken much longer and probably have cost considerably more due to the learning curve. We are only just starting the journey and my crystal ball tells me we have an exciting future. ATB Speedy

Hi Viking. The evil needs to be battled. ATB Speedy

Hi Damo. You are correct, the shortage is in retail sized silver (cions/ 1oz to1kg bars). However for larger trades (5000oz ingots)there is not much stock for delivery at these prices. ATB Speedy

Hi All. The Reddit attempt to break the shorts on the COMEX will be a very hard task. The banks are clever, experienced and corrupt. Buying contracts on the COMEX and standing for delivery is one way but i think it will result in a default and a pay out in $s. The best way to beat them is by individuals purchasing physical metal with PSLV preferably through an ISA or for larger amounts through a straight Sand S acct. I remember Max Kieser trying this years ago and all participants got their asses smacked by JPM. ATB Speedy

Hi Damo. I suggest you talk to Joshua Saul at The Pure Gold Co. He is a very up on the matter. ATB Speedy

Hi Gerryjo. Just a word of caution about HL. No Problem if you want to sit tight and not trade. I have just sold some Canadian stock (Wheaton Metals) Approx £30k. HL earned out of the bid offer on the stock hey also earned on the bid offer for the FX plus their trading charges (£12) I knew this and proceeded with the deal. On checking the contract there was an additional charge of £168. After waiting on hold for 30 mins i spoke to HL and asked what those charges were, after another 10 mins on hold i was given a load of waffle about cost involved and no definite answer as to how or why the funds were taken. HL are in it for maximum profits and care not about their clients. I am in the process of shifting all my stock holdings out of HL and into physical metals, all i will keep with them is my ISA acct holding GGP. ATB Speedy

Hi Lonestag. This has been discussed at length here, the option to issue stock will only be used for SP enhancing purchases. Any dilution will be offset by asset accumulation. ATB Speedy

First magnums on me

Hi Panama. The email i received from Shaun really confirms that we are going mining. ATB Speedy

Hi All. Thanks for the thanks. ATB Speedy

Hi All. Thanks for the thanks, but it really is not that much to do, just a few emails, talking to Martu artists about design, engaging with The Perth Mint on costs and that was all before breakfast. ATB Speedy

Hi All. For your information, i have just had a reply back from the GGP office in relation to the first pour from Hav 1oz gold bar. It Reads.
Dear valued shareholder.
With respect to your suggestion for a special edition gold bar for first pour at Hav. This is an interesting and positive idea. As we advance Havieron and engage with the Perth mint i would be pleased to reconnect with you on this concept.
Thank you for your continued support of Greatland Gold.
Regards.
Shaun Day.
CEO.
ATB Speedy

Hi Chaseholm. The views expressed in that Sprott blog looks as though they have been reading my posts here. With a massive stimulus package, yield curve control, negative real interest rates, Basel 111 coming into play, bullion banks clearing their short positions, JPM net long gold, add to that massive physical purchases around the globe especially China, India, Russia, Turkey and, to a certain extent, HNW individuals in the USA, UK and Europe, the only way for the POG is significantly higher taking our SP along for the ride. By the time we actually have gold/CU to sell into the market i fully expect the POG to be in excess of $2500/oz if not higher (but lets not be greedy). I must add a word of caution, be aware that the effects of much higher POG will not be good for the $ or £ and we must take action to preserve wealth. ATB Speedy

Hi All. I have just been given the heads up the GH has sold all his stock in GGP @20p to JPM and a TO @ 19p is happening next week. Also the POG will drop to $30/oz and every UK citizen will have their mortgages and rent paid for by a massive stimulus package. Whats the date today? ATB Speedy

Hi Imp. Just sat in a 2.5hr traffic jam, back to normal. ATB Speedy

Hi All. Our asset, gold, is under pressure from the bullion banks. Whilst driving down the paper price of gold they have only managed to close a few of their short contracts and are still short 125k contracts. Worryingly for them is the fact that the hedge funds have increased their long positions meaning the BBs will have to take the other side of the bet and increase their shorts. This $300/oz take down in the POG is fake and has no bearing on the real value of physical metals, there are no big amounts of metal available at these prices. If you have physical metals then hold do not sell and if funds are available buy more. This exercise in modern money madness will end badly. GGP SP and most related stock has suffered, in part, due to the games being played in paper gold market. These games have cost the industry untold $billions in lost profits and all to protect the $. ATB Speedy

Hi Bully. Good debate, except the fruit loop bit. I hope our gov and the people of the UK can turn this around. All i know is i feel safe with my physical PMs holdings and my GGP stock. ATB Speedy

Hi Bully. The US $ has lost 98% of its purchasing power against gold. The $ and £ have sunk in unison along with the German mark (Euro). The UK gov has a infinite supply of fiat and using it has consequences. To compare share issuance to a gov creating fiat is acceptable. Cos do not have infinite issuance, they will just be diluted to zero, same as all fiat creation. The UK gov went bust or do you not remember the IMF bail out? ATB Speedy