Member Info for TimberTrader

So, no surprise really that I agree!

Also, who said that I didn't believe that the POG would rise higher? Please read my post before making idiot comments.

So, exactly what price level do you believe it will be before end of Q3 2020, which my post was based on?

Really? LOL! If you think my post was nothing but factual then I'd maybe agree, but it's not.

BTW, what's offensive about it anyway? Are you a city economist/analyst?

IMHO, I won't bet anything. If people believe that the POG will continue to rise to those sort of levels, then fine. However, what's that based on? Probably a load of pointless, ivory-towered city analysts & economists who 99% proved themselves to be pointless idiots during the 2008/09 financial crisis.

During that time a 10 year old child, pinning the tail on a donkey, blindfold, would have been better at forecasting what would happen in the markets going forward.

If anyone thinks that these overpaid, pointless, city boys can have any more idea of what will happen in the future than you do, think on!

GLA & DYOR

Newcrest up 2.8% @ 36.64

Closed up 13.6% @ 0.10

Current spot $2025.00 after hitting a high of $2031.76.

https://www.dailyfx.com/gold-price

The COVID-19 pandemic has caused a $5.3 billion ($7.4 billion) drop in the total value of mining deals during the second quarter of this year.

This led to a 30.5 per cent, or $US2.9 billion, decline in mining M&A values during the period following a “flat” first quarter of 2020, according to GlobalData.

The amount of capital raised by mining companies during the second quarter also experienced a 25 per cent drop, amounting to $US3.7 billion.

GlobalData senior mining analyst Vinneth Bajaj however said that the number of asset transactions rose by 85 per cent, with a $US1.3 billion increase in value.....

....Australia and three other countries – Canada, the United States and the United Kingdom – together accounted for over 90 per cent of the total deal volume and over 50 per cent of the total deal value.

The second quarter delivered 1411 deals, up from 860 in the first quarter. It was also accompanied by a 53 per cent increase in the volume of completed capital raising deals.

Newcrest Mining’s $US788 million raising was one of the largest completed deals during the second quarter. Out of this, $US653 million was used to fund the purchase of Fruta del Norte financing facilities in Ecuador and the remainder to fund developments at the Red Chris operations in Canada and Havieron project in Western Australia.

https://www.australianmining.com.au/news/covid-19-a-blow-to-mining-deals/

Marking Out and Applying For Mining Tenements
(Includes Mining Lease Requirements)

https://www.dmp.wa.gov.au/Documents/Minerals/Marking_Out_and_Applying_for_Mining_Tenements.pdf

There have been important board changes at ScandiVanadium Ltd (ASX:SVD), most notably the appointment of highly experienced resources executive, David Frances as executive chairman.

The appointment of Frances strengthens ScandiVanadium’s board and management team and is representative of the group’s intent to extract maximum value from its quality asset portfolio.

The company has recently acquired the Pascalle Gold Project, located in the heart of the Paterson Province within 14 kilometres of Newcrest Mining’s (ASX:NCM) 32 million ounce Telfer Mine. SVD has also acquired the Gnama Nickel Project in the Fraser Range Nickel Belt.

Renewed exploration of the Paterson Province in recent years has resulted in significant discoveries, including Greatland Gold’s (AIM:GGP) Havieron Discovery (results included 275 metres at 4.8 g/t gold and 0.6% copper) and Rio Tinto’s (ASX:RIO) Winu Discovery (results included 681 metres at 0.49% copper and 0.33 g/t gold).

https://finfeed.com/small-caps/mining/svd-appoints-high-profile-executive-chairman-progress-wa-gold-nickel-projects/

Sorry, TYPO the new UBS price target should read $40.60, not $48.60! Too many beers last night and getting ahead of myself.

“We recently changed our thesis on Newcrest based on our in-depth work on Red Chris and Havieron,”

“The inclusion of these projects challenges market perceptions that production is peaking in 2020-21. We recently upgraded NCM to Buy, the first time since Aug 2012.”

Apologies if already posted in the last few days, but I missed that UBS had further increased it's NCM price target of $38.40 which it made on the 24th July (Mentioning Havieron) to $48.60 on Tueday.

"UBS raises Newcrest Mining Limited (NCM) price target from $38.40 to $40.60. Says updating valuation for higher gold price forecasts. Notes NCM is most preferred gold play."

https://www.thinkmarkets.com/au/market-news/july-2020/australian-broker-moves-28-july/?page=1

People are strange, we're going through strange days. I just take it as it comes and i'm sure GGP will break on through to the other side. After all it's certainly not the end. TT

Rio Tinto’s Winu Assessment A Boost For Antipa
Share Cafe - 31st July 2020

Rio Tinto announces maiden Inferred Mineral Resource at its Winu copper-gold project in the Paterson Province of WA, comprising 503Mt at 0.45% copper equivalent at a 0.2% cut-off grade.

AZY maintains a large acreage package within Western Australia’s Paterson Province, one of Australia’s major exploration hotspots – home to Newcrest Mining’s world-class Telfer gold-copper mine, Rio Tinto’s Winu copper-gold deposit, Greatland Gold-Newcrest’s recent Havieron gold-copper discovery and other significant mineral deposits. Having first entered the Paterson Province during 2011 when it was a much less sought-after exploration address, the company has used its early mover advantage to build an enviable tenement holding of approximately 5,200 sq km...

https://www.sharecafe.com.au/2020/07/31/rio-tintos-winu-assessment-a-boost-for-antipa/

Indeed! That's always been my best option for further funding towards the other drilling options, like Scallywag, to avoid another cash call.

We may possibly get some form of drilling plan from GH for the trial Scallywag drill(s), but, IMHO, I certainly don't expect any cost budget coming into the equation. TT

No worries paddy! GH clearly stated 2-3 weeks before drilling in the last interview on Proactive, so didn't expect much more at all currently. :-)

Cheers Alastair! You clearly know where we're going, for sure! GLA

The gold mining sector is now in the early stages of a major boom.

As gold hit an intra-day high of over US$1,980 this week, a record in US dollar terms, gold mining companies reaped the benefits.

Will there be more corporate action? – you can bet on it.

Here, junior companies like ECR Minerals (LON:ECR) and Greatland Gold (LON:GGP) are beginning to pick up traction as the majors cast their eyes our for the next big discovery. Greatland has been in business with Australia’s champion Newcrest for some time now, and the positive results from its Havieron project just keep on coming...

https://www.proactiveinvestors.com/companies/news/925373/money-begins-to-flow-towards-the-gold-mining-juniors-in-a-big-way-as-a-new-round-of-corporate-activity-looms-925373.html

What does this mean for the junior market in general? One immediate result is that money is now around for financing exploration and development in a way that just wasn’t the case 12 months ago, or at least wasn’t available outside of Australia.

After a cannabis and bitcoin-related hiatus, investor appetite for gold and gold exploration has returned with a vengeance. Companies are raising money all over the place, with the only real hurdle to new deals being the level of discount that brokers want to apply. Some are taking the plunge anyway, reasoning that the rising gold price will take the edge off the discount in a matter of days. And, with gold pushing towards US$2,000, and some commentators now talking up a US$2,500 price without sparing their own blushes, who can say that they are wrong?