China Nonferrous Gold Share Discussion Threads

[mattjos] 17/2/2022 08:42

The Bid is a penny higher today after last night's news

[mattjos] 16/2/2022 22:13

What i do find intriguing though is that they sold 50Kg to Daye Nonferrous Metals for the whole of 2021.

This new Sales agreement with Daye Nonferrous Metals is for "up to 600Kg".

Now, either the Tajik govt. does not wish to buy Gold at this time (understandable as they will have other Covid-recovery priorities in the economy) or, might it indicate that the company anticipates a significant step up in Gold production for 2022?

As ever, we only have the tea leaves to divine.

[mattjos] 16/2/2022 21:48

From the RNS we learn as follows:

"In 2021 the Company produced a total of 1,249kg of gold bullion, 1,199kg of which was sold to the Tajikistan government on similar terms, and 50kg was sold to Daye Nonferrous (see announcement dated 07 September 2021).

1,249 * 32.151 = 40,156 Troy Ounces of Gold (what the company refers to as Gold Ingots).

H1 2021 they have produced 17,288oz, therefore H2 produced (40,156 - 17,288) = 22,868oz (+7% YonY)

It's pretty close to my forecast for the year and I believe we should see the first FY Profits reported when the FY results are published (subject to costs).

Let's hope Covid is now behind us and they can get back on track towards Phase II later this year - cannot have been easy to implement the necessary controls on site over the last 2 years.

[wind dancer] 16/2/2022 21:21

So we can see that we have a greater than 10% increase in production over the prior year which was static on 2019 levels.
So why the drop ahead of the RNS?

[wanobi] 16/2/2022 17:31

well let's hope the market sees it that way Mj!!
Cheers
Wan :-)

[mattjos] 16/2/2022 17:26

seems entirely arms length to me … Tajikistan govt not able/willing to buy all gold produced in-country & so we have another buyer, on same terms, if required.

[wanobi] 16/2/2022 11:53

thanx Hari, this is currently my smallest single holding, so I'm not too bothered short term, just gets a bit frustrating to see it do nothing much,,, but, chart is coming to a head slowly but surely :-) time will tell, we shall see and all that :-) just hope we don't hit peak gold price whilst we wait :-) LOL :-) grrrrr!!! Cheers Wan :-)

[hari] 16/2/2022 09:11

It has been one of the worst performing shares over last 2-3 years It will continue to be slow performer In comparison to non gold miners Just hold and come back in 2-3 years to see bigger gains As long as you do not have your eggs in one basket , all good

[wanobi] 16/2/2022 08:31

gotta have the patience of a saint to keep holding here,,,, ggrrr!!!
GLA
Cheers
Wan :-)


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[mattjos] 14/2/2022 20:20

Three weeks ago they also advised:

""As U.S. growth continues to slow in 2022, the market perception of recession probability could increase further," the analysts said. "This sets gold up for greater investor interest despite rising rates."

Another factor that Goldman Sachs is watching is the growing inflation threat. Last year, inflation fears were kept relatively in check as the U.S. central bank saw rising consumer prices as transitory. However, the investment bank said there is now a risk that inflation expectations become unhinged as inflation has been more persistent than expected.

"We estimated that if inflation were to structurally move to 4%, gold could hit $2,500/oz based on the historical gold inflation relationship. We also estimated that gold would get somewhere close to this level if U.S. gold ETFs would move back to their 2011 highs. Therefore, we think there is considerable upside potential in gold in a scenario where inflation increases significantly," the analysts said."

From a TA perspective, I would suggest $2,550 - $2,650 is extremely likely

[mattjos] 11/2/2022 19:06

i suspect the impatient seller last two days probably convinced himself that a USA Rate rise would be bad for Gold. Don't listen to the mainstream media.

Quite the opposite .. the market can see the big mistake the FED is about to make but, it's completely boxed in now & the markets know it.
Folk need the insurance of Gold now, likely as never before

[bazboa] 09/2/2022 18:31

Someone playing the trading game me thinks

[wanobi] 09/2/2022 17:35

nice one Cel, again :-) :-)
Cheers Wan :-)

[celeritas] 09/2/2022 11:40

Just looks like someone got bored, had 50k.

[hari] 09/2/2022 09:52

share price big fall today

[mattjos] 08/2/2022 16:38

Someone keeps posting these MKT orders every day in the closing auction, hoping to catch a DMA entrant who has left their Buy order on the book during the auction & therefore to try and trigger a 1 share UT at the lowest possible price.

It seems nonsensical, unless one is trying to knock the reported closing price down.

[mattjos] 08/2/2022 16:35

what is the point of this day in and day out?

[mattjos] 07/2/2022 18:35

Despite the constant drip, drip, drip 'message' that rising rates are going to kill the gold price the last couple of drops below $1,800 on 3rd & 4th Feb were both met with high volume buying that pushed it back above $1,800 in short order.

The same pattern of buying was evident in October around the $1,750 level, November around the $1,760 level & December as/when Gold dipped below $1,775.

I just see rising support now clearly at $1,800 and likely soon at $1,825

Yes, the Fed may be raising rates but, contrary to loud opinion, that has not hurt the gold price when they last tried.
This time around Real Rates are even more deeply negative than ever before as the FED is far, far behind inflation and unable to get out ahead of it.

Somewhere between here and 2% rates, the next crash will emerge & folk know it.
A fairly toxic combination & the demand for insurance is only going to rise

[wanobi] 07/2/2022 17:54

gotta breakout up or down soon cel, Cheers Wan :-)


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[celeritas] 07/2/2022 17:50

M2 money supply is going through the roof, gold will go ballistic at some point.

Stick on a max chart.

[wanobi] 07/2/2022 15:44

nice one Cel :-)
Cheers
Wan :-)

[mattjos] 07/2/2022 15:42

Thought so

[celeritas] 07/2/2022 15:24

The 50k was my buy.