Member Info for the_shareminator

Franny1968 - The government had all the data back in January. China was in lockdown through all of February. And government policy here was continue as normal until we reach the point were we need to take action. Put plainly they have allowed current events to unfold as their models predicted. Borders should have been closed weeks ago. Schools closed weeks ago. This lockdown, weeks ago.

Dollar index heading lower, gold ready to make an attack on $1700 again. Shanta along with Hummingbird, Trans-Siberian and Anglo Asian trailing a long way behind mid-tiers Highland and Centamin Gold

Anglo Asian today announced they are unable to ship gold doré to its refiners in Switzerland... Hochschild and Goldfields have suspended their Peruvian operations... Newmont suspended 4 of it's operations (20% of production)... Lundin Gold suspended their 325koz/pa Ecuadorian production... Pan African Gold and Goldfields along with all South African producers... Alamos Gold suspended it's 400koz/pa operations... Yamana Gold and Wesdome Gold both in Quebec have closed... IAMGOLD has closed it's Westwood mine... B2 Gold's Masbate mine in the Philippines

https://www.mining.com/worldwide-mining-disruptions/
https://www.scrapmonster.com/news/anglogold-to-suspend-production-from-south-africa-gold-mines/1/74803
https://finance.yahoo.com/news/miners-suspend-slow-operations-coronavirus-141402751.html

Codelco, the world’s largest copper miner, said it will temporarily suspend construction on some projects. Codelco said the 15-day suspension applied to remaining work being carried out to make Chuquicamata an underground mine, and projects at an early stage at Rajo Inca and Traspaso Andina.

Despite the tone of this conversaton they are still warning that the pandemic is something to be feared. We have around 5000 ICU beds and once they are gone, that's it. There are 20-30 years coming down with the virus with no underlying health conditions in need of ventilators. In Italy they have run out of available units in some areas. Yesterday the tube was full of people, shops at the weekend were packed. In about two weeks we will see just how many people suffer the consequences.

Better to take out cheap finance right now and sit on reserves. The gold price has climbed $200 in two days and there's more to come. In a couple of months, our reserves will fetch a much higher price.

https://www.marketwatch.com/story/fed-move-awakens-gold-just-as-supply-of-the-metal-hits-a-snag-2020-03-23

Three of the world’s largest gold refineries—Valcambi, Argor-Heraeus and PAMP—said Monday that they have suspended production in Switzerland for at least a week on the back of mandatory closure of non-essential industry in the country to prevent the spread of coronavirus, according to a report from Reuters Monday. The report said the three refineries process around 1,500 metric tons of gold a year, or about a third of total global annual supply

15-18p range next month if gold holds $1650-1700 range

$1690

AAZ fell harder than most these past few weeks so it will take a while before confidence returns but today the rise looks pretty even across the board. Gold has just passed $1660 and rising!

AAZ +10%
TSG +7%
HUM +12%
SHG +13%
HGM +9%
CEY +11%

Gold is now up 5.45% at $1565! Looks like the beginning of a strong reversal. Great time to load up 20p HUM stock, sit and wait for 50% gains in a matter of weeks.

I don't have live data here but I have noticed lagging trades on Sharesmagazine's site

https://www.sharesmagazine.co.uk/shares/share/TSG/trades

Gold is up 4% at $1,544/oz

Pressure on the USD

Completely agree with you there :)

gnome - Why do the UK only have 5,600 confirmed cases whilst Germany has 26,000, Spain 30,000, US 35,000, Italy 60,000. It's not because we aren't spreading the virus. Could it be that testing is still pitifully low in our country? Why do we have a 5% mortality rate compared to America's 1.5%?

There are probably tens of thousands of asymptomatic people walking about their business spreading the virus and who will develop symptoms in the coming days.

You realise in Italy more than 5,500 have died and this is expected to run beyond 10,000 in the coming weeks and that's assuming strict quarantine measures keep everyone for spreading it further. We are a couple weeks behind Italy.

The facts suggest 10% need hospital treatment, 5% ICU.

NoelS - many in the industry at the time were saying the same thing. I remember not buying BP over fears of it's collapse. On the point of putting faith in what people have to say, nobody has the gift of hindsight but we can still take notice of the reasons behind their claims. I wouldn't suggest for a minute to take everything he says as gospel, just to listen to the reasoning and do your own research from there.

Now’s the time to buy gold, according to one of the world’s leading wealth managers, which flagged bullion’s prospects after the haven lost out to the dollar in recent weeks as the pandemic roils markets.

“When I think about what would I buy in the right here and now, I would be buying gold,” Wayne Gordon, executive director for commodities and foreign exchange at UBS Group AG’s wealth-management unit, told Bloomberg TV. Prices would appreciate over three to six months, according to Gordon.

Given additional quantitative easing from central banks “you should see a weaker dollar over the next 12 months,” Gordon said. “On the back of that, you’ll see real rates go back into negative territory,” he said, adding: “That will be a potent power for gold.”

https://www.investing.com/news/commodities-news/buy-gold-right-here-and-now-top-wealth-manager-says-2116474

TSG also announced similar guidance today. Note the following applies to us:

"Current events have resulted in material changes to commodity prices and foreign exchange rates, which are expected to impact positively on the overall profitability of the Group. The Company's dollar-denominated revenue from gold sales remains strong in a supportive gold price environment. The recent oil price decline is expected to considerably reduce the Group's energy costs, and the connected devaluation of the Russian rouble is equally anticipated to contribute to overall cost improvement, as the majority of the Group's operational costs are rouble-denominated."

The most unlikely event in current predicament would be ANS releasing the cash.

Once the dust settles, gold developers like KEFI will benefit from all the low interest debt floating around like what happened in 2009-10. Good for securing our $160m banking debt needs. Good perhaps for securing an alternate partner in the event ANS continue to drag their feet.