Member Info for TimberTrader

"The sky's the limit for this company"

"China has granted ten major insurance companies, including PICC Property & Casualty and China Life Insurance, approval to invest in gold for the first time, a move that could inject up to CNY 200bn ($27.4bn) into the market and drive-up prices.

Under a new investment program that took effect on Friday, insurers can allocate up to 1% of their assets to gold, Bloomberg reported...."

https://www.asiainsurancereview.com/News/View-NewsLetter-Article/id/90709/type/eDaily/China-is-allowing-insurance-companies-to-invest-in-gold

https://www.bloomberg.com/news/articles/2025-02-10/china-frees-possible-27-billion-from-insurers-to-invest-in-gold?srnd=phx-markets

UBS AG, who hold 220,992,634 GGP Shares (having recently increased their holding by 153,094,115 shares), and our 11th biggest shareholder, continue to be bullish on gold as an investment and hedge against uncertainty...

"Takeaway: Gold’s appeal as a store of value and hedge against uncertainty has again proven itself to many investors. We have raised our gold forecasts to USD 3,000/oz over the next 12 months, up from USD 2,850 previously."

https://www.ubs.com/us/en/wealth-management/insights/article.1893443.html

A classic 'tree shake' this morning? Who knows? Only time will tell...

...But, just like Tasmania and F-l-y-n-n Gold, we're still keeping some 'skin in the game' in the takeover companies.

I suppose not a surprise as Shaun Day now wants to focus on production at Telfer, with exploration still important, but now reduced. The main exploration focus now is the Paterson, and as close as possible to the infrastructure, and secondly, Ernest Giles. He did say that Bromus would continue to struggle to compete for exploration spend compared to those areas, and so you can see why this has happened.

Many thanks for those jsp, much appreciated! They are indeed! TT

That may well have been the case with Newcrest at Telfer, but Newmont were completely different, from what I understand. They spent tens of millions on upgrading & maintenance, and I believe Shaun Day said that the plant was the best it's been for over 10 years.

Exactly, 96dc2! Same here and a lot more years! :-)

'Shutdowns' for normal plant timed maintenance, and of course unexpected, are a part of every production operation of pretty much everything globally. However, don't forget that it rarely means a total shutdown. Maintenance shutdown on, say, one of the trains, doesn't necessarily stop mining, and vice versa. You still normally still keep operating in the rest of the plant.

Newmont took an equity consideration of 2,669,182,291 shares in GGP as part of the deal. That was valued at USD 167.5 million.

Today it's worth around USD 314.43 million.

PS. Thanks for the ore stockpile!

Apparently we need this Supervisor for Ore Processing because, with this latest record gold price, even all of the administration staff at Telfer are now out with shovels, putting as much ore as possible through the trains! ;-)

GGP sp @ 8.925p with Offer @ 9p

It was supposed to be earlier today at 11:30am - 12:00pm Perth time (3:30 - 4:00am UK time). Maybe Shaun used the last Greatland Corporate Presentation from December, or maybe we'll get a copy later, if there is a new one.

It's not released yet, if there is to be one.

New record in Australian Dollard too @ AUD 4607...

https://www.tradingview.com/chart/?symbol=OANDA%3AXAUAUD

USD 2892...

Https://www.tradingview.com/chart/?symbol=OANDA%3AXAUUSD

New record just hit of USD 2890....

Thanks to Stuart Hinds on X...

https://x.com/i/status/1888650818418557162

https://pbs.twimg.com/media/GjWasflXcAAVHvt?format=jpg&name=medium