Member Info for speedymeadie

Hi All. Hedging costs the industry millions in lost revenue. If a miner wants to borrow funds the bank demands a hedge on production. The banks are in control of the POG and profit nicely from the hedge. Newmont owe the banks $6billion so their hedge was an obligation. Even the biggest miner is a victim of the parasitic banks. ATB Speedy

Hi All. I suggested another 50k contracts would be thrown at the paper market. The week late news shows a net change of 20k contracts to the banks short side. Open interest is so low that the 20k contracts were able to keep the paper price below $2000/oz. How long for is another question and i suggest"not long". The HUI is up along with GDX and GDXJ. Sentiment is still in the basement but slowly returning due to the basic fundamentals being very very bullish.

New gold finds are becoming increasingly rare due to lack of investment in exploration and the fact that the low hanging fruit has all been picked. GGPs find at Hav is at the right time, in the right place and in the right asset. ATB Speedy

Hi All. Please do as i do and just ignore the bond wannabe. ATB Speedy

Hi SAS. There were several reasons i sold all my BTLs. The tax situation was changed dramatically, the AST agreements were being diluted, tenants becoming aware of every trick in the book to avoid paying and a leveling off of the profit potential. I also thought that low interest rates were coming to an end along with a down turn in house prices. The biggest earner is by far the owner occupied home, tax free no matter how much capitol is gained.

ATB Speedy

Hi All. The powers that be do not want a POG above $2000/oz and will do all they can to keep it below. The week late news for the close of play today will probably show a further 50k contracts thrown at the price. The physical buying by central banks will soon overwhelm the shorts and then it is off to the races. ATB Speedy

Hi JSP. Sold all my BTLs over the last few years. Was going to buy a new car with some of the proceeds but the Brits won. ATB Speedy

Britannias

Hi JSP. So stock up on those Brittanias. ATB Speedy

Hi Doublehun. $2500/oz is baked in and $5000/oz is a distinct possibility for the med term. If the proverbial hits the fan name your price. ATB Speedy

Hi Doublehun. I agree it is a sorry state of affairs and reading about it makes folks worry. The problem is out of our control so no point in pondering on the subject. All we can do is protect ourselves and family the best we can. ATB Speedy

Hi Notrader. No that article was not by my hand, but i think he may be reading my posts here. ATB Speedy

Hi BilkosBuddy. Very well done, a 50% profit is not to be sneezed at. ATB Speedy

Hi All. Sentiment in the miners is at rock bottom and we are very fortunate to have secured funding, the HUI has dropped approx 40% since 2020 and has not yet reacted to the POG. When money managers realize the bond game is finished the rush into gold and gold miners will be something for the history books. Traders taking 10% profit is ok but for me it is all about the bigger picture and GGP are in a position that is the envy of almost every explorer. ATB Speedy

Hi All. The banks added 50k contracts to the short side on COMEX in a desperate attempt to suppress the rise. My desire is to see them suffer for the decades of suppression that has cost the gold producers and investors many, many, billions in lost profits. The longs seem to be winning. Who in their right mind would sell their gold (except for everyday items) for worthless fiat.

My target of $2500/oz for 2023 looks less outrageous now. ATB Speedy

Hi 96dc2. So far this week a total of approx 16million reduction in the short/borrowed side. When they stop messing with the SP and several good bits of news arrive i see a really good chance of a rush for the exit as 65million shares are bought back, make em pay. ATB Speedy

Hi Bancal. The world is already "tough" I could name you many, many, states where life is unbearable today. The only thing saving us from that situation is the ability to create debt and run a deficit. The social security net in the UK is only possible because of that ability. Think about what life would be like in the UK without the NHS, state pensions, benefit programs, etc. In many places around the globe if you do not work you do not eat. The general thinking is that it could not happen in the UK, i think that idea is wrong and it could happen. The only way to avoid that is self preservation through personal wealth. The best way of holding on to that wealth is owning physical gold. ATB Speedy

Hi All. The nearer we get to production the higher the "in ground" gold price becomes. If any T/O or buy out is attempted the offer will have to be relative to the asset value not the SP. If anyone wants to make an offer it will be sooner as opposed to later. In approx a years time the asset will be priced in PE multiples and, ladies and gentlemen, it will be a lot more than 20p. ATB Speedy

Hi Bancal. I tend to get straight to the point. World debt is at levels that will not allow high interest rates. The central banks used to have control but now Mr Market is demanding higher rates for new bond issues. This will cause massive problems for govs as the service on those debts becomes un payable. As i said earlier it is either default or hyperinflation, either will see the end of fiat and the re establishment of sound money. ATB Speedy

Hi All. The debt situation in the good ole USA is out of control, along with most developed states. The specter of default is looking more and more likely, either by direct default or hyperinflation. Funding for the USA backed wars will cease with that default and not before time. When that default happens it will be too late to safeguard with physical gold at todays price. $3k/oz, and beyond, is baked in and that target will be achieved faster than most realize.

Does anyone here have any idea what will happen to gold miners profitability when that happens? ATB Speedy

Hi All. The spivs have earned their bubbly over the last few days, 11% up one day, 7% up the next, then 15% down then nearly square on the day. The Cheshire cheese will be lively. ATB Speedy