Member Info for Winstonwolf

They'll get approval.
It's just not announced yet.

More.

...once the permit is granted.

In a rising gold and silver environment.

https://www.tradingview.com/x/M2ffLVqO/

Another weekly close above the green line and the pain should be over.

The below chart shows HOC is close to a breakout from the bear market its been in for the last 1 & 1/2 years.
https://www.tradingview.com/x/wP79bLsi/

The political situation in Peru will calm down eventually and the government is ramping up investment into the economy. Hochschild are now more likely to receive permit approval as a result, due to the many jobs the mine creates.
https://www.ibtimes.co.uk/peru-invest-16-bn-reactivate-economy-1710781

I'm not happy with this investment either. But you can always sell up and be done with it and try and make those gains elsewhere. Or you can commit and wait for a reversal in sentiment.

The chaos in Peru should subside. The new government that has been formed is backed by the US. Therefore it's likely to hang around for a while. I would expect Hochschild's approval to be given while the silver price rallies next year.
That's a potent mix.

Well hopefully the election runs smoothly and they don't elect an even more extreme Marxist as president.

I'm not familiar with the politics of Peru but if she is willing to work with Congress, instead of saber rattling like Pedro, hopefully this is a better situation.

Who's the bigger fool, the fool or the fool who follows him?

I think the reason he was ousted was to get a more moderate government that would collaborate with the right wing congress.

The new president is already saying "I request a political truce to install a government of national unity" . Bodes well.

Expect Hochschild to have a much smoother sea to sail through going forward.

I'm not waiting around to find out.

It appears the chips were stacked against this one.

New investor after the debacle at Pure Gold Mining. I have certainly learned my lessons there.

I can't be bothered with the company anymore. It appears pointless. The timing of the gold price consolidation has killed this. They have too much debt and the costs of extraction are just too high.
I've taken what little I had left in this stock and put it into Galantas Gold. They have no debt and are using the revenue from their mine to expand production. Hopefully the returns from that will make up for the dramatic loss in this share.

Good luck to all those who are left.

I'm out.

WW

It's over...

$3333 is canadian dollars.
US dollars which is the main metric of comparison is approx 0.75 x that.

…approx. $2500/oz USD.

I'd say another 25-50% reduction in costs is required for this to be a workable mine. Otherwise this will be bought out for pennies on the dollar.

They also need to target grades >5g/t which is apparently where the current mine ramp depth is located.

Exactly. They are now breaking even.

When the grades start reaching 7-10g/t Au then this thing will start actually making money, and we know this happens the deeper they go.

With a rising gold price scenario and this mine becoming profitable again, the SP moves could be explosive.

I totally get it.

But it is shown in the geological testing that the grades will improve drastically the deeper they go. That combined with more sophisticated targeting and increased mill processing, should see this be cash positive by Q4.

Now if the gold price can get off its arse, we'll see drastic re-rating if all comes true.

...around 500 in the mill. They want to average 825tpd in Q3 at a higher average grade of gold.

Revenue could jump 100% next quarter if they achieve this.

If they have truly turned this mine around and we get that information in Q3, Q4, at the same time as gold breaks out from its down trend, then Pure Gold Mining could turn into a rocket ship. It won't reach old highs anytime soon, but in a couple of years it's a possibility.