Member Info for Tornadotony

1591 and rising.

The same spot price as 10 February and the share price was 1781p.

There is so many gaps in the Canadian TX market that at some point they must close. The gap created today was equivalent to 80p in the stock price. Imagine us waking up to a 1465p open tomorrow and the only RNS was the company buying shares. I know when the price was 1567p the gold price was around $2760 per ounce. The share price has priced in another $120 per ounce drop in gold. Q1 is likely to 300,000 ounces with a $1400 margin.

The company has not provided reserves and resources on the 5 working mines and I hope some of our readers are reminding the company as I have done for an update.

Tony

The drop this week is probably the second worse in its trading history at nearly 250p. The only week above the current drop I believe was when the CEO was fired over misappropriating company monies.

Added in 1560's Gold no longer overbought hourly, daily and weekly. Oversold on 5 hourly.

Interesting to see how they sort it out as London did nothing but to test support line.

First bounce on support line. If it breaks lower 1530p in short order here.

2877 is crucial. If gold holds then Endeavour forms a bottom.

I suspected the institutional holders were trading a bit.

Second support line has gone and the next one is at 2877 spot gold. At the current rate of descent we will hit long term support early March in fact we might hit on Friday if it found 1450 area. What is unknown is the length of time to go back up.

Gold support line taken out at 2922 spot. All of Feb gains given back by Endeavour. I still have a chunk to buy back but will wait for a bottom here.

23.45p for the contractor. Interesting they took shares.

Feb 4th Endeavour was 1665 and the gold price was $120 lower per ounce. As a knock down it was out of the park. A similar hit again goes back to the start of the gold rally in January.

Gold is trading between support and resistance at present. Comex gold options close this afternoon. The next options closure is 26th March. Record gold buying has arisen on ETFs as some sellers in USA equities take up that position. BRICS appear heavy buyers of gold, such as China gold bullion houses having 6-8 week waiting lists for deliveries.

1705p in Canada at present. I think we can console ourselves in that the company is no better than us in timing of when to buy shares. Gold is at or near record highs and I sense is now trying to break higher. The sharp pull back decimated stochastics and RSI and at one point daily was zero stochs and 37 on the RSI. It was a good wash out. What is astonishing is that endeavour is on a high production quarter at the highest prices and has only 1/6th hedged at lower 2400 gold prices. The company is on track to hit $300M profit this quarter. It is like the company is trading at 5 or 6 PE rate on annualised forward earnings. 54 cents divi has a qualification date next month.

As for the short positions they are at 6 M shares and despite a lot of looking around, I can not see why those positions are taken. In two weeks the company reports. Barrick has stormed ahead by the equivalent of 140p over Endeavour and although resolving Mali problems possibly, Barrick must pay out significant amounts in back taxes.

I sacrificed some previous earned profits to get back in today and can only hope it proves right in the longer run.

Another foul up.

Bounced off rising support line.

In title

I thought Reetech would raise power shedding in South Africa this morning. I guess he is slipping a bit.

Https://www.msn.com/en-gb/news/world/hackers-steal-1-5bn-from-crypto-exchange-in-biggest-digital-heist-ever/ar-AA1zBYa0?ocid=msedgdhp&pc=HCTS&cvid=c4319cadd5934ac1e0adbb81fb65bafb&ei=30

Equivalent of stealing 500,000 ounces of gold.

Theo,

The fact is China would procure all of the Angola rare earth output tomorrow and fund LJ. They were happy to do it in 2020 and more happy to do it now. Pensana and the Angola Government have waited for the West to decide not being dependent on China and establish their own supply chains. So far that has not happened. If Trump makes a mistake and Taiwan gets invaded then Western Governments will have to get their supply lines having to be resolved especially if they want tanks, submarines, drones, missile systems and missiles and fighter aircraft. It is painful sitting here but we watch the new oligarchy in USA screw over their own people just like what is happening in UK but eventually Europe and USA will need to make their own kit from non-China influenced sources. Tony