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Call me crazy but I'm back in! This is waaaay oversold. Look at the charts. We've had some dollar strength and all of a sudden precious metals are junk? Yeah, right... The Dollar is at 6 week highs but still down on the year. Silver is bobbing along the same lines and FRES is down to 52 week lows. Does it make sense? This following a bullish Full Year update and expectations of producing 65moz silver this coming year http://www.lse.co.uk/share-regulatory-news.asp?shareprice=FRES&ArticleCode=4073ts2i&ArticleHeadline=Full_Year_2017_Preliminary_Results Buy when others are fearful. US rate rise? And then what? Have they magicked away their enormous debt? The markets will turn and when it dawns on the FED policy makers how damaging rate rises will be for the US economy. Has anyone tried to buy physical silver? It trades at a huge premium to spot unless you're mega rich and can buy in bulk. Heck going through Dubai airport you'll pay about $60 for one ounce! Obviously it's not that bad everywhere but expect silver to rise along with gold and platinum in the long term.

Reported spread on this site isn't the spread being offered by brokers today

Careful with POG, I was one of those who had to ride the rights issue after the company neglected shareholders for months, the price decline was horrific but made back most of the losses with the volatility surrounding the hostile bid. Even now I wouldn't be tempted. That enormous debt pile isn't coming down as quickly as they would have liked. HGM by far the better play and for me personally I wouldn't look to diversify my hedge in a Russian goldie now. Small top up for me today, weakness across the PM sector with RRS and FRES both down also. KRS are my next big expectation for the year purely because they now have a large stake in Calidus Resources. When the drill results begin to trickle in again, interest will rise rapidly just like last year only they are 50k meters instead of 15k meters. They have a decent 700koz resource at 2g/t and expecting it to hit 1.2 - 1.5 million ounces in a resource upgrade by year end. https://www.calidus.com.au/

Well said ragnar, POG is a basket case of course following the rights issue and hostile bid a few years back. Not sure I would ever touch them for fear of another monumental management f@ck up. I read your summary over on HUM which is an interesting thesis that if I understand correctly will see the EV/Reserve value fall sharply. Of course there are a myriad of other factors like revenue growth forecasts and margins forecasts that will have greater impact but an interesting post nonetheless. What are your thoughts with SHG? Might that bounce back? Location risk weighing heavily.

I seem to recall Rastuss has been here a long while and is pretty amicable chap. When I was invested here there were growing concerns over breach of covenants and that now is surely a given with the Rand so strong following the presidents 'dismissal / resignation'. Thankfully got out of this not too soon although Sibanye's approach I predicted would happen, it came too late for my liking. More than made back losses here in small cap SLP and now onto the next trade. Stay liquid guys, don't forget this company has nearly buckled twice before and to me looks like it's supporting an awful lot of pressure despite PGM basket strength.

Good afternoon guys from sunny Hong Kong! Hope the weather is treating you well ragnar, are you a boarder or prefer the ski's? Half Year Report had a few surprises. As already mentioned downward revisions to guidance is bad news and will impact cash costs, margins and quarterly cash build. The PGM basket is off it's peak but still healthy so not a huge worry but it's no surprise to see people taking profits today. A planned delay of Tweefontein MF2 commissioning in Q4 due to power distribution constraints to the mine was a surprise to me, maybe I missed that memo in the last update but investors will have to be patient for the foreseeable future before any meaningful quarterly production growth arrives in my view. Cash costs at $526/oz primary as a result of lower production rather than exchange will bite worse in the second half as the Rand has gained since then by quite some margin. Not a thorough analysis, at work but expect to see further weakness short term if the Rand continues unchecked and the pgm basket fails to keep pace. Further out this will probably look like an buying opportunity. That makes 3 of us in HGM, awaiting a breakout in the lead up to results and ex-dividend day. Metals up nicely today. A small downgrade hurts costs here much more than with majors like HGM and we already know they are performing well after the last update plus the recent changes to the dividend policy are progressive for dividend chasers like us lot :)

Mineral Resources and Ore Reserves Update as at 31 December 2017 Highland Gold Mining Limited ("Highland Gold" or the "Company", AIM: HGM) is pleased to report its Ore Reserves and Mineral Resources in accordance with the JORC Code as at 31 December 2017. HIGHLIGHTS Highland Gold's Ore Reserves (proven and probable) increased by 56% to 5.1Moz of gold and gold equivalent from 3.3 Moz on 31 December 2016* following updated estimates for each of the Company's producing assets and its main development project, Kekura. Mineral Resources (measured, indicated and inferred) increased by 6.6% to 17.2 Moz of gold and gold equivalent as compared to 16.1 Moz on 31 December 2016*. The average grade in Ore Reserves was lowered to 3.3 g/t as compared to 8.0 g/t on 31 December 2016, reflecting lower cut-off grades and increased ore tonnage at Novo and Belaya Gora, plus the addition of Blagodatnoye. Updated resource estimates published last year for MNV, reflecting extensive near-mine exploration, and Novo, reflecting a reduced cut-off grade, added more than 800k oz of gold and gold equivalent to overall Ore Reserves. A resource update included in the pre-feasibility study for a combined Belaya Gora and Blagodatnoye operation more than tripled gold reserves to 932k oz versus previously reported figures for Belaya Gora alone, reflecting both the addition of Blagodatnoye and a 60% increase in Belaya Gora ore. A resource update for Kekura, published together with a definitive feasibility study for the project, featured an 18% increase in gold reserves to 2.0 Moz. Production secure for the foreseeable future, nice big jump in reserves, hare price is still below 150 despite incoming dividend and gold trading higher relative to this time last year

Big contract win. No further details regarding HT's performance but presumably solid given the anticipated revenue for the latter half of the year.

Looks like a buy to me but WTF do I know!!? Not betting against the market.

CPI data was impressive and sent the dollar index higher but the market was also forecasting gains in retail sales of 0.2% and there was instead a 0.3% contraction. That's quite a big margin of error and explains why the dollar index fell back again pushing up commodities. Market analysts are saying the 10 year treasury yield is now at a potentially volatile level following the CPI news and chances of faster rate rises. They rose to something like 2.93% which is not far off the 3% level quoted in analyst reports yesterday. Rising inflation is a catalyst the Fed considers when setting rates but coupled with the disappointing retails sales the market is rightly concerned the Fed will struggle to raise rates quickly enough to stave off inflationary pressures. Inflation may continue at a quick pace in the coming quarters and I would expect mixed data to follow. Whether the Fed can afford to keep pace in their efforts of raising rates is the big question especially given the fiscal deficit and the sluggish performance data revealed yesterday

Good morning Ragnar Agreed, $1350 very important. Gold is a nice hedge against inflation and we are seeing a pick up in US inflation more than expected despite retail sales marking their biggest decline in 11 months. Downgrades to GDP estimates will follow and this is further bad news for the USD which is already at 3 year lows near enough. There is the perceived risk of 4 rate rises as you rightly mention but this isn't healthy nor is it stable for the US economy if it's GDP figures are shrinking and it's purchasing power abroad continues to fall. Especially in light of increasing fears over the fiscal deficit. IF and only if the rate rises come to fruitition then we might see short term pressure on the gold price in my opinion. But I would count on Trump to continue the weak dollar initiative and force other nations to adjust similarly in order to boost competitive trade advantage. All goof for us! Hopefully HGM continue doing what they are good at, producing gold without issues and paying a dividend. Atb

Came across these charts today. Italy, Greece, Portugal and other European countries with high levels of bad loans outstanding may begin to worry markets later this year. I can easily see a repeat of the 2011 issues that came to the surface concerning European national debt and the liquidity of banks. Would you rather be invested in gold mining or banks? https://www.msn.com/en-gb/money/news/europes-dollar12-trillion-soured-loan-headache-in-five-charts/ar-BBJ6XJU?li=AAmiR2Z&ocid=spartanntp#image=7

Good to see you here too :) Gold was at $1307 at one point last week, now up $30/oz following U.S. inflation data released yesterday which helped push gold higher. Now the dollar is weakening again gold has another opportunity to build on previous gains and re-establish support around $1350/oz. Following the news and believing the news are of course two very different things, I find it interesting a Reuters poll showed most economists expect the U.S. Federal Reserve to deliver at least three interest rate hikes this year! The dollar index fell by more than 10 last year and sits near its low (88.671) on Feb 1. The Chinese Yuan is at 3 year highs against the dollar already and many analysts see a rebound in the dollar as wage inflation takes off and due to slower growth prospects in China. What happens when US rates don't rise as expected? Well I would think more pressure on the US dollar pushing it below 2014 lows. How will this affect other currencies? The Chinese Yuan will strengthen somewhat more against the USD, the most optimistic call is for a sharp rise to 5.65, a level not seen since November 1992! But that would hurt Chinese exports and trade with the US and is unlikely to happen this year. Both currencies would weaken against the Euro and Pound Sterling but general currency weakness should encourage further investment into precious metals like gold and silver. This is one aspect that should be positive for the gold price. Another is the weakening Rupee which should boost gold demand moderately as investment funds right down to the ordinary working class seek jewellery and coins as a means of preserving their savings. "(A) rise in domestic inflation, pressure on the current account deficit, and moderation in FII (foreign institutional investors) flows on account of global monetary policy tightening are some of the factors that could lead to a bit of depreciation in the rupee."

FRES was down more than 10% as well. Markets have been shaky recently and it's all connected to perceived fears over interest rates. Risks haven't gone anywhere and gold is still at $1320/oz. This is a nice buying opp and with an annual dividend yielding around 8% my preferred play to RRS (which is having problems over the country's mining code) and FRES (which is mainly a silver play)

You'll be smiling soon enough when KRS rises off the back of CAI shares jumping. This is bound to happen as the drilling campaign kicks off towards the end of the quarter and results begin to appear around May (possibly sooner). Expecting we will be 50% higher by then. Easy money, sit and accumulate :)

New Corporate Presentation http://www.landore.com/pdf/pres.pdf highlights I took from it include a 20,000 metre drill campaign this year with the intention to boost the current 400koz resource to over 1 million ounces. They will then complete a PEA and at a later date the PFS On the 5th Feb we received an Updated Mineral Resource Estimate This was the B4-7 Nickel-Copper-Cobalt-Platinum-Palladium Deposit on the Junior Lake Property which is different to the BAM East Gold project and includes additional drilling results since 2012 Condensing the information - The total resource has increased by 43% - It now stands at 3,292,000 tonnes at 1.20% Nickel equivalent (NiEq) in the Indicated category and 568,000 tonnes at 1.26% NiEq in the Inferred category for a total of 46,661 tonnes of contained metal. - The open pit of the B4-7 Deposit has doubled to 1,772,000 tonnes at 1.20% NiEq in the Indicated category for 21,264 tonnes of contained metal. - This is over a strike length of 900 metres and a depth of 550 metres and remains open along strike and at depth. - New Exploration Target identified down dip from the resource which may contain a potential 18,000 to 24,000 tonnes of contained metal to add to the resource.

http://www.iii.co.uk/articles/477061/10-top-quality-dividend-stocks-aim-investors?utm_campaign=weekend%20update%2027/1/18&utm_content=1063730463994&utm_medium=email&utm_source=SmartFocus

Have been reading up about this company. They are reducing the risk by selling non-core assets to pay down debt, recent transactions have been below book cost which could be why this is trading below NAV. They have been toying around with the loans more recently which will yield annualized savings going forward. However I think the property portfolio and so assets on the book will need to shrink further in the coming years. Profits cannot hope to match debt obligations in the next 6 years even if they achieve the growth they believe will come. If anyone has been keeping up with property news it's that swathes of people are set to lose their homes in the next 7-8 years as they struggle to pay off the capital of their interest only mortgages. A sharp downturn in UK domestic house prices will impact office and retail spaces. Not to mention the very real threat BREXIT poses on the UK service sector, far from creating new jobs we are likely to see jobs lost in this space according to analysts.

Interesting update, no wonder the strong bounce. US tax changes could cause quite a boon for other AIM listed stocks if they have the exposure to markets abroad

Picked up 500 and will look to add more in the lead up to results in April. At this level the YE dividend will be around 4% and I would assume a premium on today's share price. Production was up, the gold price is well above $1300/oz and the USD is struggling. Even POG has been stable lately and that is littered with issues!