Anglo Asian Mining Share Discussion Threads

[jeanesy] 04/10/2016 20:44

Just when things start to look up.. then bang goes POG down 42 dollars !!

[cast_no_shadow] 04/10/2016 19:34

Also they waited till the Chinese were away as their markets are closed this week which helped them pull this off. It happens every year and no one is held accountable. Unbelievable. Chinese will be back buying on Sunday, might be worth a little trade if you have balls.

[jbe81] 04/10/2016 19:19

Average prices for the quarter taken from chip's thread
Gold:
1Q = $1,190/oz
2Q = $1,268/oz (+6.5%)
3Q = $1,334/oz (+5.2%)

Silver:
1Q = $14.95/oz
2Q = $17.08/oz (+14.2%)
3Q = $19.58/oz (+14.6%)

[cast_no_shadow] 04/10/2016 16:51

Seriously there is no point trying to reason the short term movements in the gold price. Nothing has fundamentally changed.

Like I said it pretty much follows the dollar yen as a carry trade and unfortunately the dollar yen didn't break 100 and is now rising sharply hence the drop in gold it really is that simple.

Add to that the fact that gold was pummelled by the commercials after the recent (lack of) September rate hike decision to prevent it reaching new highs for the move and force it under its 50 day and 100 day.

So instead of a drop from say £1,380 its dropped from a much lower level and broke support at $1,300, hence the big drop today.

It's such a sham, criminal market but unfortunately the paper derivative scheme is the current way gold is priced and we have to live with it.

[zhockey] 04/10/2016 16:36

It looks like a premeditated move to me, motive is questionable.

[highly geared] 04/10/2016 16:34

China markets shut this week so a good opportunity to drive the price down

[mattjos] 04/10/2016 16:09

odd ... A December rate hike looks most likely and has done so for some time so, why the big gold over-reaction today?
The Dow is all over the place.

[jbravo2] 04/10/2016 15:36

Seems like a chance to get more shares cheaper than you could after this mornings buying. I'll bet supply is thin though.
If someone comes in for another 150k as they did today and yesterday then the selling hasn't been large enough to meet the demand without going above this mornings price.

[zhockey] 04/10/2016 15:25

Rate hikes are irrelevent in my my view, I mean look what the last one did for gold! The problem is the perception of rate hikes which are driving traders. Coupled with Hillary now being a shoe horn for the whitehouse the picture for gold short term is fairly grim. NFP on friday could shake everything up of course.

[celeritas] 04/10/2016 15:13

AAZ could have gone up a lot further when gold was higher but decided not to take part. I think news is coming hence why it moved when gold has really gone no-where for months

[mattjos] 04/10/2016 15:10

meanwhile Australia has just cut, India has just cut, UK about to cut.
USA will not be able to act without regard for what is happening in the rest of the world & the effect of their proposed tightening.

Everything continues to point towards November as the main decision time for the price of gold .. be that interest rate rise and/or result of USA election .. between now and then this looks like noise to me

[bsg] 04/10/2016 15:08

It is a 50% increase in interest rates.

[mattjos] 04/10/2016 15:02

all this over a possible 0.25% rate hike in the USA .. meanwhile 40m Russians are planning for war with USA!

[bsg] 04/10/2016 14:47

Not good timing ...

[zhockey] 04/10/2016 14:43

Gold has looked weak for some time, I cannot see the rationale for near term break-outs that folks on hear have been talking about. We will have to see where demand is once the 200sma is touched.

[cyberbub] 04/10/2016 14:38

Hmm gold being bashed down further by the Yanks? :-(

[scottishfield] 04/10/2016 12:12

Tks Mattjos

[mattjos] 04/10/2016 12:06

jbe .. I would agree. The Gold chart looks very much to me that this week should prove to be the last bottoming pattern on the wedge. What is not at all clear is what will prove to be the catalyst for a definite breakout. We may yet have to wait for the USA election result if no other event occurs between now and then.

[wrighty46] 04/10/2016 11:51

Only because of the volume.

[wrighty46] 04/10/2016 11:51

I bought 2 small amounts yesterday and today.

[jbravo2] 04/10/2016 11:44

It's all jeanesy!
:D

[zhockey] 04/10/2016 11:36

Interesting this volume seems to have come from nowhere, is anyone here buying?

[mattjos] 04/10/2016 11:29

£ keeps dropping against the $, making the our dollar earnings worth ever more £

[mattjos] 04/10/2016 10:41

from Chip on his thread:

For holders of PM producers it is worth noting the average realised spot prices over the last quarter (ie July - Sept).

Gold:
1Q = $1,190/oz
2Q = $1,268/oz (+6.5%)
3Q = $1,334/oz (+5.2%)

Silver:
1Q = $14.95/oz
2Q = $17.08/oz (+14.2%)
3Q = $19.58/oz (+14.6%)

Given the excellent qtr on qtr percentage improvements, revenues should be similarly better and, on balance, 3Q earnings should likewise be up versus 2Q/1H.
Chip

[jbravo2] 04/10/2016 10:24

This next week should shake out a few of the doubters who wish they'd sold at this price before then it'll be moving up strongly.
This price really will seem far distant soon.

Selling 70,000oz at a margin of $725 to clear $50m this year alone will see to that.
So we clear just about £40m and have market cap of £20m. As that debt evaporates it is just going to get put on the share price.
Then next year we use the new electricity supply, the new water plant and the new SAG mill to produce even more at an even lower cost!
Debt gone by end of 2017.
Share price circa £1.

On existing case only.



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