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It shouldn't come as any surprise to see some of the heavyweight investment banks adding to their existing holdings at these prices! Both Goldman Sachs and UBS Group AG are the latest according to updates today and late last week.

The price of silver has rebounded following the Dollar's drift into lows not seen since last December. The price of gold touched record highs of $2,500/oz last week and the historic gap between gold and silver has extended to levels analysts predict will close in the coming months. The gold silver ratio is currently 88 which is historically near peak levels.

With the gold price likely to continue it's run higher once the Fed begin cutting rates, as early as next month perhaps, the price of silver should move higher and in theory begin to close the gap.

Agreed it was a rather unfortunate choice of title considering the gravitas of the content! Adriatic Metals the silver miner also had a similar incident last week but their HR team appear better trained on bereavement etiquette.

Simplyme as you wrote as long as the gold price remains at these elevated levels this a good outcome. Those of us who have followed the company long enough aren't expecting the new mine to reach an annual production rate of 120koz by the beginning of next year, but even 100koz would be as you say a rather decent level from which to repay near term loan obligations.

Anglo Asian once paid very generous dividends including special dividends but they lost their way in recent years, partly due to factors outside of their control (armed conflict) and then others directly their fault, namely Libero and the forgotten Irish expedition. The bigger picture as you mention will be the rate of progress as they transition to a fully copper producing profile with a sprinkling of gold on the side. So long as Azerbaijan remains stable there's always hope the generous dividends will once again become a priority in a few years from now.

Yes Lee will be interesting to watch how these gold producers react next week! The whole sector has been lagging this month since gold bottomed around $2380 earlier this month, can't think of a single UK listed producer at 5 year highs, let alone 1 year highs despite gold being at all time highs! Patience will be rewarded in time I'm sure ;)

Bullish end to the week.

Gold futures closing a dollar or two off all time highs set today of $2548

Gold price at $2508

I dare not dream where the price will be this time next year aha

Have a great weekend y'all!

The value of the Group's direct investment portfolio increased to $47.8 million (including holding in Predictive Discovery) from $47.2 million at 31 December 2023 (30 June 2023: $42.1 million);

Was a little perturbed to see net debt had climbed to $86.4 million however this is closer to $55 million accounting for the post-half year sale of the Predictivie Discovery holding for a reported $31.2m! As rivaldo points out there is a sweetener attached to the terms, potentially but irrespective of what transpires between now and December that news is very welcome! I don't think the market has yet appreciated this development nor the likelihood of Capital raising a significant sum for machinery at Sukari. Surely Centamin would be the obvious choice to take this even 15-20% below market value would net tens of millions in the second half of this year which could be redeployed elsewhere and still knock off high interest bearing debt.

Despite the bombed out precious metal prices the stock price has held up well all year. It was only a couple of years ago the company were generating substantial sums off PGM sales and this may soon repeat itself with rates set to fall later this year and through 2025. For now we can at least take comfort in the buoyant chrome market.

Chief Executive Officer, Mark Learmonth, said:

"This has been an excellent quarter, during which profitability benefitted from higher gold production, a higher gold price and lower costs per ounce. With today's results, we remain on track to achieve our production and cost guidance for the year.

"I was delighted that the 2023 drilling campaign resulted in a significant increase to Blanket's mineral resources and mineral reserves estimates as well as an increase in Blanket's life of mine. A 10-year mine life, based on reserves, indicates the robustness of the orebodies at Blanket. Management anticipates that Blanket's mine life should extend past 2040 given past successful conversion of inferred mineral resources.

"During the Quarter, the board took the decision to proceed with the single-phase development option for the Bilboes Sulphide Project. The results of the PEA indicate production of 1.5 million ounces of gold over a 10-year life of mine at an all-in sustaining cost of $968 per ounce. As such, Bilboes has the potential to almost triple Caledonia's gold production to over 200,000 ounces per annum, in combination with production from Blanket.

"In May, we were delighted to welcome James Mufara as Chief Operating Officer. James joins us at a pivotal moment in Caledonia's development and the team is already benefiting from his wealth of experience.

"Caledonia remains well positioned to deliver continued returns to shareholders. I am very excited by the opportunity we have to evolve our business, which we believe will generate significant long term shareholder value."

Financial Highlights for the Quarter

· Gross revenues of $50.1 million compared to $37.0 million in the second quarter of 2023 ("Q2 2023") due to higher gold production and a higher gold price.

· Gross profit of $22.9 million, a 109.8% increase from $10.9 million in Q2 2023, due to both higher gold revenue and lower production costs.

· EBITDA of $22.5 million in the Quarter (Q2 2023: $9.6 million)

· Blanket Mine ("Blanket") on-mine cost per ounce of $906 (Q2 2023: $915).

· Consolidated all-in sustaining cost ("AISC") decreased by 7.7% to $1,253 per ounce (Q2 2023: $1,357 per ounce), due to the lower on-mine cost per ounce offset by higher sustaining capital expenditure and increased administrative expenses.

· Group net cash inflow from operating activities of $19.1 million in the Quarter (Q2 2023: $2.2 million outflow).

· Net cash and cash equivalents in the Quarter increased by $12.8 million to -$1.4 million (debt).

Operating Highlights for the Quarter

· 20,773 ounces of gold were produced from Blanket (Q2 2023: 17,436 ounces).

· Publication of preliminary economic assessment ("PEA") for the gold sulphide project at Bilboes (the "Bilboes Sulphide Project") on June 3, 2024 suggests a yield of approximately 1.5 million ounces of gold, over a 10-year life of mine, at an all-in sustaining cost of $968 per ounce.

· On May 15, 2024 Caledonia announced updated mineral reserves and resources estimates, including a 106% increase in Blanket's mineral reserves and a 63% increase in measured and indicated mineral resources pursuant to Canada's National Instrument 43-101 and an increase in Blanket's life of mine to 2034, based on the updated mineral reserves estimate. Management believes that the inferred mineral resources may, based on past successful conversion rates, further extend the life of mine past 2040.

Dividend

· A dividend of 14 cents per share was paid in April 2024 (for Q1 2024) and again in July 2024 (for Q2 2024).

· The board will continue to consider the dividend as appropriate in line with other investment opportunities and its prudent approach to risk management.

Outlook

· Caledonia is on track to achieve production at Blanket within its pre-disclosed guidance range of 74,000 to 78,000 ounces for 2024.

· The group is progressing the new feasibility study on the Bilboes Sulphide Project, which is expected to be delivered during the first quarter of 2025.

· The Company continues to progress exploration activities at Motapa.

Quite a few posters here apparently sold into the last update (that's if they held in the first place) fearful of 3 month old news and misinformation being plastered here over cashflow concerns. Their job is done! If they haven't already begun to build a position then they soon will with the knowledge Coris and Hummingbird are a week or two away from agreeing new loan terms.

Indeed 40-50p was a bargain and in current form Anglo Asian should be higher but then so should much of the sector. Gold futures want to move above $2,500 and suspect that will happen in the coming months. Irrespective of poor production performance in recent years which goes some way to explaining the lack of enthusiasm here, it's less clear why the whole sector has been shunned.

Much of the world falls into that category. Ariana's strategy to diversify projects abroad may prove the right one in the longer term

If you're not sure why you're still holding, you know what to do. No advice intended.

Mostyn there is only one logical explanation why posters like Goldinvestor7 give up their Friday nights and weekends here and that is to make money.

Plain and simple. I've been witness to similar 'backroom' collusions (in online groups) before and this normally precedes a pump and dump. Dictate the narrative, murky the waters and deny interest. They want fearful retail holders to sell in order to keep the price while they mop up. Once refinancing news drops (I'm assuming that is their short term pump play) they will ride out the gains, rinse and repeat.

Don't give up the day job Goldinvestor7, that's if you have one lol

Q2 revenues of $138 million marginally lower than the previous quarter with adjusted EBITDA* of $71 million, a chunky 42% up on the previous quarter!

Gibraltar produced 20 million pounds of copper and 185 thousand pounds of molybdenum with TCC of US$2.99 per pound of copper vs sales price of US$4.49 (Q1: $3.89 / lb).

The unfortunate labour strike had a longer than anticipated impact on production in what was otherwise a very strong quarter for the company achieving the highest priced copper sales in it's history.

Production was impacted by planned downtime for the in-pit crusher relocation, lower recoveries as a result and the 18-day strike.

Stuart McDonald, President and CEO of Taseko, commented, "This was our first full quarter with 100% ownership of Gibraltar and despite the operational disruptions, the mine's financial performance was quite strong as we generated $35 million of operating cashflow. With all of the major project and mill maintenance work now completed at Gibraltar, we're looking forward to stronger copper production and cashflow generation in the second half."

Gibraltar Outlook reads positively, of particular note the major project and maintenance work is now completed, production is expected to be stronger in the second half with FY guidance now in the range of 110 to 115 million pounds, compared to original guidance of approximately 115 million pounds.

Eviking is correct holding shares in foreign markets normally just requires a filling of a form, at least that's what i've been through previously in relation to companies moving to the NASDAQ and S&P. The only one that didn't work in this manner was Vedanta as it moved to the NSI (India)

Have to laugh this is absolute gold! "payables balance won’t be in the net debt as it’s an accountancy flaw / trick"

Keep posting these pearls Goldinvestor7!

Goldinvestor7 working hard this evening on a stock he neither owns nor wants to survive.. oh and he thinks "People deserve to lose all their money" here.. I'm sure he had everyone's best interest at heart.