Anglo Asian Mining Share Discussion Threads

[bumpa33] 15/8/2018 10:07

mattjos - spoke to some of the more amenable mm’s this morning, not currently using auction process, as stated previously they are better bidders of the stock, but they know the game.

Increasingly elsewhere in other stocks they’re not making markets in time honored fashion - it’s every man for themselves right now.

[fatnacker] 15/8/2018 09:55

An excellent explanation Celeritas, its as simple as that.

[celeritas] 15/8/2018 09:45

At the end of the day there's a flight to the dollar with the dollar gaining in strength. Gold is a currency and generally does the opposite to the dollar. The dollar is now far too strong so I do expect it to fall with the corresponding move up in gold.
You also have to look at the FX rate. The dollar is very strong vs the pound. We earn in dollars which is then converted to pounds as will the dividend.
We are cheap in sterling but utterly cheap in dollars.

[jeanesy] 15/8/2018 09:45

Who knows , but there has been lots of selling in the auction recently

[fatnacker] 15/8/2018 09:41

jeanesy, 14544 would that be because the sellers a figment?

[2sporrans] 15/8/2018 09:34

Well worth reading:

hxxps://www.gold.org/research/gold-demand-trends/gold-demand-trends-q2-2018

As ever, lots of determinants on POG pushing either way.

E.g. My point not made at all clearly above wrt to Asian gold demand, perhaps the main buy-more driver is increased fear/uncertainty, including buying AHEAD of local currency depreciation; big buy-less is diminished capacity/desire to buy AFTER substantial depreciation has happened.

Are we all become watchers of the strong $; waiting, hoping for it to peak....then reverse?

[celeritas] 15/8/2018 09:34

KS, that's just churn and best guess that people might sell/hold or buy more.
Look at the fundamentals which are much more important than when people bought or sold.

[jeanesy] 15/8/2018 09:32

That is normally true catsick but the strength in the POG in the last 6 months of the year is normally due to the buying done in the far East . There is a concern that may not happen this year .

[catsick] 15/8/2018 09:29

I am basing my gold bullishness turn here on its highly seasonal nature, we are just about to enter the strong 6 months of the year when all the gains are usually made, plus the fact we are heavily oversold with max short positions on the exchanges and china russia iran and turkey all abandoning the usd and moving in a much more gold driven direction , I would highly recommend subscribing to The high tech strategist by fred hickey, he is much more of a gold nut than a twch nut, at 140 usd a year I find it very good value for his gold comments

[jeanesy] 15/8/2018 09:27

What i find strange is that normally there is a bounce when something falls .. but so far there has been no bounce whatsoever in the POG . It has fallen sharply several times since the 1350 level.. then steadied a bit for a while and then fallen sharply again ..there has been no time when it has risen nicely recently !

[joey wilson] 15/8/2018 09:26

A news article out today stating gold to fall below $1000 an ounce and the reasons for the prediction. This is a good sign that POG might be about to increase as often when these articles are written for the masses the opposite happens.They dont want us to get rich too easily as the market boys love making the dollar for NOTHING. Hard work doesnt come into it.JW

[king suarez] 15/8/2018 09:22

Celeritas,

To me, the charts show levels at where there was significant trading.

I.e those people who bought up to 30p ish in Nov 16 and around that level between August 17 and Jan 18, who are still in profit, might be willing to sell their shares, now down to around the 30p level?

My average is 41p. Too late for me to 'save profit' at the moment, so I continue to hold for long term and will consider topping up if it looks like we've stabilised at some lower level - otherwise I'll be happy for the share price to bounce right back into profit - win win either way...

[celeritas] 15/8/2018 09:15

jeanesy, the gold price is obliging something in the background.

[jeanesy] 15/8/2018 09:13

If WINS was willing to take 250k why has our seller not obliged this morning ?

[bumpa33] 15/8/2018 09:05

Still well bid, best offer outside the price at 39.6

Definitely a lot of dry powder out there...

[king suarez] 15/8/2018 09:03

Looking at the chart, looks like next strong support would be around 30p? That's where I will top up, if we get that low....

[jeanesy] 15/8/2018 08:54

Why are you expecting an upswing in POG catsick ?

[celeritas] 15/8/2018 08:53

Amazing how aaz didn't want to know when gold was at 1350.

I reckon there's a lot of dry powder here waiting for gold to steady off as the current mkt cap is completely disconnected.

[return_of_the_apeman] 15/8/2018 08:52

We all know this game; feed off the weak.

Pog will not go anywhere near our breakeven cost

When was the heli survey due to start?

[catsick] 15/8/2018 08:52

I dont think there is much more driving things than the price of gold, I think that pretty much explains the move from 55 to here, The good news is I think there could be a nice upswing from here in the gold price and all our problems will be solved ....

[bumpa33] 15/8/2018 08:47

On AAZ currently mm’s are happy to take stock on in big size, whilst not offering much/or at all, but with the trickle of sells going through this morning they’ll drop the price until they get activity.

[jeanesy] 15/8/2018 08:47

That maybe Mattjos but no-one is buying atmo because they probably think it will get cheaper still.. at what price who knows ?!

[mattjos] 15/8/2018 08:44

But, £44m mkt cap? Pretty daft

[2sporrans] 15/8/2018 08:42

39.0 now Jeanesy.

But support level breached + POG still falling + risk off intensifying.....[AIM pM miners v-high-risk category]
R off Very noticable in Asia.
China v. challenged to stimulate slowing economy + defend currency simultaneous....

A lot of the late Aug-SEpt-early oct seasonal gold demand depends on Asain buying [physical]
India too has big problems - v. weak rupee not least.
All this not bode well.