Highland Gold Mining Ld Share Discussion Threads

[loganair] 02/3/2018 15:14

What I've been hearing is these trade tariffs are more to do with Trump trying to nudge the Fed into making 2/3 rate hikes this year instead of the 3/4 that the Fed Governor had been suggesting in his testimony earlier on yesterday.

[loganair] 02/3/2018 14:51

Also industrial users of gold in Russia must buy their gold from one of these 4 Russian bullion banks.

The 4 bullion banks are Sberbank, VTB Bank, Bank Otkritie and Gazprombank which buy gold via advance payment facilitates and covers the entire mining season.

These 4 banks also cover the cost of refining and processing the gold. There are 7 refineries in Russia that are licensed to refined the gold mined in Russia and all gold mined in Russia must be refined by one of these refineries.

Only 2 companies (SpetsSvyaz and FeldSvyaz) are authorizes to transport the gold mined my the Russian gold miners to these refineries.

In 2017 the other banks that also purchase gold directly from the mining companies are Lanta Bank 8.6 tonnes, Asian-Pacific Bank 6.7 tonnes, Baikalinvestbank 6.5 tonnes, Promsvyazbank 4.8 tonnes, Uralsib 3 tonnes, FIA-Bank 1.9 tonnes to mainly sell on to the retail market and making jewelry.

VTB bank is the main bank that sells the rest of the gold on the international market in various foreign currencies.

In Russia Spot gold is quoted in roubles per gram and trades are settled in the rouble.

In ounce terms, gold is now up 1,600 roubles so far today.

[stevedaytrader] 02/3/2018 14:46

Thanks Loganair, I need to do a bit more reading up on this area. Meantime TRUMPs words seem to causing bigger ripples- we r responding as I would expect- outperforming the market today by some margin, and slightly better than other golds which are doing same. Fingers crossed this continues. I expect trumps policy to be refined next week, but hope uncertainty continues and dollar continues to weaken.

[srpactive] 02/3/2018 14:37

GC

Glad you are doing well, and thank you for your reply.

[garycook] 02/3/2018 14:34

srp,I have been reading the comments here etc.Been busy just sold half my holding in PFC at 460p earlier,to take a nice profit.I will buy PFC again at 420p,or buy what,s good value.CARD,DLG,GSK,IMB,ITV,and VOD looking great value atm.I have enough GVC,and HGM.US looking weak,and heading for the 200 mda.Dow 23,000,and S&P at 2600. Trump not helping causing a trade war.Good for Gold

[loganair] 02/3/2018 14:26

What I am saying is that 80% of all gold mined in Russia is purchased by the Russian Central Bank at the full rouble price in roubles and that 75% of the cost of production is paid in roubles.

The Russian Central Bank does this because it is a good way to exchange roubles for dollars, on the open market and for FX reserves gold is priced in dollars, with out the need of doing so by actually selling roubles to buy dollars on the FX markets.

No Russian mined gold can be sold on the open market, it first all has to go through the Russian banks, VTB being the main one, unless there is express permission from the Russian Government to do otherwise.

[stevedaytrader] 02/3/2018 14:10

Loganiar- not sure I understand or agree with your point in roubles ets, are you saying that HGM, a FTSE listed company, can only use onw 4 Russian bullionbanks? And that the Russian Central Bank only ever uses one of these 4 banks and never any of the other many global ones?

[stevedaytrader] 02/3/2018 13:02

As per my email earlier ref: TRUMP etc. Playing out as expected. Bad for my pension though :-(. Let's see what happens this pm.

[fsawatcher] 02/3/2018 12:48

gold miners nows indemand

market swingin to the golden one

buyin gold miners fast

[loganair] 02/3/2018 12:46

kc - sorry I not using any charts.

[killary cunton] 02/3/2018 12:40

logonair can you provide a link to the chart you are using?

If chopsy was/is still around it could go in the header.

[loganair] 02/3/2018 12:13

Ok - Gold is now up 1,300 roubles per ounce.

[donald trumpton] 02/3/2018 12:06

Now that upsets me loganair. Do you get a kick out of that?

Concentrate on HGM.

[loganair] 02/3/2018 11:41

Often it is just that some people like, get a kick out of upsetting others.

Definition of an 'Idiot' is Trump.

[casual47] 02/3/2018 11:36

W - I hope he is a troll because if not he'd be an 1diot.

I saw in a recent HGM presentation that the medium term goal is 500k oz production. It didn't put a year guesstimate on it, did they communicate when this is likely to be reached?

[the ship will go down] 02/3/2018 11:17

The rampers club will be happy with this relief rally, even if they are all still sitting on losses lol.

[loganair] 02/3/2018 11:10

When it comes to gold miners, the local currency aspect is more important with the miners in Russia then other countries because 80% of all Russian gold mined is purchased by the Russian Central Bank in roubles.

In Australia, Brazil and other countries their gold mined is sold on the open market in US dollars.

Gold now up $20 and 1,000 roubles per ounce.

[srpactive] 02/3/2018 11:05

W

This time last year it was 5.4p, xd 20 April 2017.

Since then the gold price has risen as has the production
and the currency situation.

Loganair might be able to assist regarding the currency.

I hope that helps, dyor.

active ( do not buy anything I do )

[loganair] 02/3/2018 11:04

Gold price is up $15 and 800 roubles an ounce so far today.

[woodhawk] 02/3/2018 10:57

Active,

What's the current divi situation with HGM - yield and next ex-divi date please?

[loganair] 02/3/2018 10:56

Trump has just Tweeted that 'Trade Wars are Good' and 'easy to win' when it has been proven since at least 1812 that trade wars are bad and have big negative effects.

The only good thing I can see with trade wars, it is good for the price of gold.

[casual47] 02/3/2018 10:19

Still a good few months to the 2018 midterms. Trump will likely pull yet more rabbits out of his hat....