Member Info for Tornadotony

1902 is the current bottom of the hourly spot gold chart descending channel. In theory should hold for a few hours.

1902 spot gold next support line. Final support line is at 1890. the next safety net is the 1830's.

Hourly gold chart continues to give way $1907 per ounce coming into play.

Robina

Centamin should do well in Q1 2024. 20-30% bagger on today's price imop. We should have lots of new reserves and resources being reported. Tony

If someone wants to take over the company submit a proper bid like 32p -42p a share. What has gone on here is a deep insult to the intelligence of many investors.

Mr Tibbs

I presume those who do not mind tummy bugs will take the risk. Much prefer the Canaries and staying well.

Tony

If the USA does go into recession in the coming months would this impact HZM as much as any other commodity stock in an equity market experiencing a liquidity shock. I know Blackrock dismissed USA having any kind of recession at all and BoA also suggested the same, but there is evidence of a lot of USA consumers maxed out on credit cards. Also when BoA CEO has made these kind of pronouncement before the opposite has happened such as I recall the prediction made of just two rate hikes by the FED in all of 2022. We may have a reason why HZM has pulled back of late and it may be the same reason why so many other quite good stocks have also retreated.

At the close of last night it failed to break the resistance line and continued going down. The key message was that we need two to three hours above the falling resistance line to confirm a change in trend and that any breakout is not some kind of head fake. The second issue is that whatever happens to Shanta share price it is not the company, but the gold price influencing price action.

The real issue for those concerned with Shanta share price action is the 1 hour spot gold price chart that has been in play for most of August.

1907, 1902 and 1890 in play for spot gold. Failed to break and hold away from down channel. 1890 is a major support line and must hold for next week.

Centamin equally frustrated and contained.

Should have been chart not charge. Not sure how that happened.

The chart tells its own story. Gold has failed to breakthrough the 1 hour descending channel that has been running through August. Someone ha thrown a lot of sells on gold to keep this up. Any temporary breakout has not held. The direction remains down for gold until that down channel breaks.

Spot at 1913 and could be going lower.

Noel

If I had a pound for every time I was called a trader, a know it all chartist, downramper, ramper, somebody who needed to be on meds or forgotten to take them, bed wetter and God knows what else I would be rich. Come on, stop being so sensitive.

The lowest price for junior gold miners per ounce based in Africa that I could find was $18 an ounce regardless of JORC rating and at that level gives a base of 4.3p on Shanta. The median price value for Africa miners is around $42 per ounce which puts Shanta on 10p. One either considers Shanta an average or below average African junior gold miner or one can take the view that the fact it has two functional mines operating in an area that is not a conflict zone that it just might belong in a group above the median price. Tony

Noel

I am not ramping Shanta Gold, I just express my opinion from all the reports produced by the company. At some point I thought gold would pull back but we might get some kind of summer rally which has not happened thus far. The risk of gold pulling back led HoC to hedge prices and for Centamin to protect with a 1900$ per ounce put for 20,000 over the next 12 months. Nobody knows for sure how it will play out for gold. What I do know is that USA is going into an election year.

Gold went up in 2004,2008,2012,2016 and 2020 for H1 to August. We also know it went down for awhile in all of those years. There is no doubt that Shanta Gold SP will be influenced by the gold price. So far just about every pundit I have read material from has got the gold price wrong some of the time this year.

The second biggest issue that impacts the gold price is whether we get another inflation cycle or the FED hikes interest rates to the point of creating a multiple year recession. I then ask what the voters in USA want. Do they want more freebies from government with huge amounts of additional debt. Do they vote for a major depression or do they vote for hyperinflation. Just like in the UK the USA public is between a rock and a very hard place.

Finally, Noel discussing fundamentals about Shanta is not ramping. Some of us like to do models and share some maths and what we base it all on. Your view is based on sentiment and at some point the sentiment indicator hits a bottom and contrarian investors buy at those points. Whatever decision you make with your Shanta stock belongs to you and managing the stress of what to do is all part of the investor game. All the best Tony

Well it could be helping Shanta join other gold juniors which have just started to rally. Fingers and toes crossed.

Certainly a target for selling this morning.

Recovered higher so far. USA GDXJ fell yesterday but UK index has moved up. We currently now have a gap in the charts above us on Shanta. If ever the baby was chucked out with the bath water it has happened on Shanta Gold.

Https://www.zerohedge.com/political/house-republicans-release-bank-records-showing-over-20-million-payments-biden-family Blatent corruption.

Two factors need to be taken into account with strip ratios.

1. The economic price to mine gold. If the previous strip ratio is linked to $1350 per ounce and it has changed to $1700, the amount of resource devoted to stripping to access new ounces of gold increases.

2. The delivery of newly discovered reserves and resources may also have a stripping element attached to it. The Capex value as being economic to mine may have a figure of say $2,000 per ounce. When gold stabilises above that figure Capex is spent on stripping to gain access to newly discovered gold. It then changes on-going stripping ratios.

As a consequence stripping activity is a moving target. Once the mine life gets extended with more ounces the original statistics applied to the original model have changed.

If gold price retreated sharply say to $1500 an ounce. Centamin would have to declare new reserves data and identify what was being lost as being uneconomic to pursue. Stripping ratios become important when gold prices retreat significantly.