Hochschild Mining Share Discussion Threads

[rathkum] 10/3/2021 16:24

AAA-rated Jourdan backs new commodity supercycle with Hochschild buy
By Michelle McGagh 10 Mar, 2021 at 13:08

AAA-rated Jourdan backs new commodity supercycle with Hochschild buy

With talk of a commodities super-cycle driving the price of metals higher, Amati’s Paul Jourdan has switched gold miner Centamin (CEY) for Hochschild Mining (HOC) which he says offers more ‘optionality’.

Commodities across the board have been enjoying soaring prices, with grain costs jumping and oil shooting above $60 a barrel but it is silver that has stolen the headlines thanks to a retail investor pile-in two weeks ago that pushed the price to an eight-year high of $30 an ounce.

Although silver has climbed back down since investors organised via Reddit to put a squeeze on short sellers of the precious metal, it has remained at the forefront of the commodity hike.

Citywire AAA-rated Jourdan, manager of the £590m TB Amati UK Smaller Companies fund, has been ahead of the curve, ditching gold miner Centamin in favour of Hochschild Mining, which mines both gold and silver.

He said the ‘excitement’ around precious metals, particularly gold, has been driven by government’s undertaking vast money printing programmes, leading investors to use ‘precious metals as a store of value…and defend against currency depreciation’.

However, the story is different with ‘platinum group metals’ like silver, which although are used for jewellery also have ‘more of an industrial use’.

‘It is a great conductor of electricity, and anti-oxidising agent and anti-bacterial agent,’ he said.

Jourdan said the potential demand for silver will expand if it becomes core to electric vehicle charging.

‘If we go down the route of induction charging – where you do not plug cars in but park in a certain place - that will benefit silver,’ he said.

However, he noted that silver is ‘very expensive as an industrial metal’ and if it can be substituted for a cheaper metal it will be.

‘The reason we switched from Centamin to Hochschild is due to what it has in the way or options,’ he said. ‘There will be exploration this year and it has come up with some reasonably good results.’

Jourdan said the economic climate is positive for precious metals as the world moves out of the pandemic and through the ‘global industrial cycle’.

China, which was first in and out of the pandemic, saw its economy rebound last year, pushing up demand for industrial metals but Jourdan said the ‘supply is constrained so there is some very good price rises’.

Hochschild provides ‘optionality’ for Jourdan in that it has a ‘good number of different assets’ that will allows it to benefit from changes in the industrial cycle.

This includes a rare metals mine in Chile, which Jourdan said had been at the centre of some investor disagreement.

‘Some investors disagree about how to take it forward. They say the company is a gold and silver miner and it should just do that but I’m keen for it to develop [the rare metals mine] as strategically it is good to have an independent provider of rare metals,’ he said.

It is not just silver and gold that are hogging investor attention. The copper price has been climbing in recent months and in December, Goldman Sachs analyst predicted it will hit a 12-month price target of $9,500 per tonne this year, up from a previous projection of $7,500. The investment bank believes it will go on to hit all-time highs in 2022 as demand grows as electric vehicle production ramps up.

Although he was reluctant to make predictions on whether copper prices would continue skywards, he said the historic high levels could be ‘sustained’ and there could be a ‘prolonged period of copper at the higher price’.

He has added to his stake in AIM-listed copper miner Atalaya (ATYM), taking it to 2% of the portfolio.

‘It is really well run, it has mature assets, and has plenty of possibilities for expansion,’ he said. ‘[The shares are] not super low cost and I like to invest in assets at low cost.’

Jourdan said Atalya’s secret weapon is the copper processing technology it has that will help to cut costs that will be a ‘significant boost’ to the stock.



Miners could continue to track upwards from here thanks to the shift to electric vehicles, which will help Jourdan (pictured above) continue his long track record of outperformance. The fund has outpaced peers in the Investment Association UK Smaller Companies sector and the Numis Smaller Companies plus AIM benchmark over one, three, five, and 10 years.

Over the last decade the fund has risen 283.1%, more than double the 112.2% from the benchmark, and beating the 179.8% return from the average manager in the sector.

‘If prices stay high, then the good miners…can still do well from here, it is not all in the price,’ said Jourdan.

‘The market is sceptical at the momentum but we have not experienced the electrification of transport that is being brought about so it is hard to use history as a guide [for what prices will do].’

[rathkum] 10/3/2021 16:23

AAA-rated Jourdan backs new commodity supercycle with Hochschild buy

By Michelle McGagh 10 Mar, 2021 at 13:08

AAA-rated Jourdan backs new commodity supercycle with Hochschild buy

With talk of a commodities super-cycle driving the price of metals higher, Amati’s Paul Jourdan has switched gold miner Centamin (CEY) for Hochschild Mining (HOC) which he says offers more ‘optionality’.

Commodities across the board have been enjoying soaring prices, with grain costs jumping and oil shooting above $60 a barrel but it is silver that has stolen the headlines thanks to a retail investor pile-in two weeks ago that pushed the price to an eight-year high of $30 an ounce.

Although silver has climbed back down since investors organised via Reddit to put a squeeze on short sellers of the precious metal, it has remained at the forefront of the commodity hike.

Citywire AAA-rated Jourdan, manager of the £590m TB Amati UK Smaller Companies fund, has been ahead of the curve, ditching gold miner Centamin in favour of Hochschild Mining, which mines both gold and silver.

He said the ‘excitement’ around precious metals, particularly gold, has been driven by government’s undertaking vast money printing programmes, leading investors to use ‘precious metals as a store of value…and defend against currency depreciation’.

However, the story is different with ‘platinum group metals’ like silver, which although are used for jewellery also have ‘more of an industrial use’.

‘It is a great conductor of electricity, and anti-oxidising agent and anti-bacterial agent,’ he said.

Jourdan said the potential demand for silver will expand if it becomes core to electric vehicle charging.

‘If we go down the route of induction charging – where you do not plug cars in but park in a certain place - that will benefit silver,’ he said.

However, he noted that silver is ‘very expensive as an industrial metal’ and if it can be substituted for a cheaper metal it will be.

‘The reason we switched from Centamin to Hochschild is due to what it has in the way or options,’ he said. ‘There will be exploration this year and it has come up with some reasonably good results.’

Jourdan said the economic climate is positive for precious metals as the world moves out of the pandemic and through the ‘global industrial cycle’.

China, which was first in and out of the pandemic, saw its economy rebound last year, pushing up demand for industrial metals but Jourdan said the ‘supply is constrained so there is some very good price rises’.

Hochschild provides ‘optionality’ for Jourdan in that it has a ‘good number of different assets’ that will allows it to benefit from changes in the industrial cycle.

This includes a rare metals mine in Chile, which Jourdan said had been at the centre of some investor disagreement.

‘Some investors disagree about how to take it forward. They say the company is a gold and silver miner and it should just do that but I’m keen for it to develop [the rare metals mine] as strategically it is good to have an independent provider of rare metals,’ he said.

It is not just silver and gold that are hogging investor attention. The copper price has been climbing in recent months and in December, Goldman Sachs analyst predicted it will hit a 12-month price target of $9,500 per tonne this year, up from a previous projection of $7,500. The investment bank believes it will go on to hit all-time highs in 2022 as demand grows as electric vehicle production ramps up.

Although he was reluctant to make predictions on whether copper prices would continue skywards, he said the historic high levels could be ‘sustained’ and there could be a ‘prolonged period of copper at the higher price’.

He has added to his stake in AIM-listed copper miner Atalaya (ATYM), taking it to 2% of the portfolio.

‘It is really well run, it has mature assets, and has plenty of possibilities for expansion,’ he said. ‘[The shares are] not super low cost and I like to invest in assets at low cost.’

Jourdan said Atalya’s secret weapon is the copper processing technology it has that will help to cut costs that will be a ‘significant boost’ to the stock.



Miners could continue to track upwards from here thanks to the shift to electric vehicles, which will help Jourdan (pictured above) continue his long track record of outperformance. The fund has outpaced peers in the Investment Association UK Smaller Companies sector and the Numis Smaller Companies plus AIM benchmark over one, three, five, and 10 years.

Over the last decade the fund has risen 283.1%, more than double the 112.2% from the benchmark, and beating the 179.8% return from the average manager in the sector.

‘If prices stay high, then the good miners…can still do well from here, it is not all in the price,’ said Jourdan.

‘The market is sceptical at the momentum but we have not experienced the electrification of transport that is being brought about so it is hard to use history as a guide [for what prices will do].’

[stevea171] 10/3/2021 09:19

Silver May Be On The Way To Finally Hurdling $28
After Lengthy 7-Month Consolidation



For seven months now silver has been in a sideways trading range consolidating its big gain from last year. It has been a real fistfight, particularly this year.

Round one was in January. It took 7 days for silver to break the red downtrend line and close above $26. It actually sailed through that level on the seventh day.

We are now in Round 2, and it looks like silver is winning this time with just one day to break through and close above $26. It is a real sign of strength.

It will be very good news indeed if we get some upside follow through tomorrow. Then we can start setting our sights on the next hurdle, $28.

[stevea171] 10/3/2021 08:44

If we look at the Sprott PSLV ETF silver inventories… they have increased by 26 Moz while the SLV ETF declined by 86 Moz.

The iShares SLV ETF current silver inventories of 593.3 Moz is down from its record 677 Moz just a little more than a month ago.

The massive Rise & Fall of JP Morgan’s SLV ETF inventories of 86 Moz since Feb 2nd, is more than the global monthly silver mine supply of 66 Moz. Indeed, JP Morgan and its Authorized Participants played a very SAVVY “Accounting Gimmick” to squelch the Silver ShortSqueeze.

Regardless… with the Fed and central bank playbook of issuing more Monopoly Money, Debt, and Leverage in the system, the fundamentals of precious metals, especially silver, only continue to get stronger every day. Unfortunately, the 99% of investors haven’t quite figured that out yet as they are still RUBBING their LUCKY HIGH-TECH RABBIT FOOT, hoping for higher stock prices.

[risa5] 09/3/2021 18:38

Interesting article about gold and silver and supply deficit...

[juju44] 08/3/2021 17:30

Its all that money printing killing gold

[prettygreen] 08/3/2021 13:25

Takedown time approaching as the US prepares to open ...

[petebreeze37] 08/3/2021 12:29

Kaos, well done, you predicted this price over a month ago.

[kaos3] 08/3/2021 12:10

but smart enough to mimic them lol

[juju44] 08/3/2021 12:06

Cabal smart enough to steal all our wealth and no one can stop them

[fast lane] 05/3/2021 21:41

You can't describe the parasites who manipulate gold/silver.

The Ecstasy of Gold -

[stevea171] 05/3/2021 21:39

Humour. Downfall of the silver cartel. 4 mins.
Just what we have all been saying ....



Given that the CFTC is an arm of Wall Street, the CFTC will never, as you will probably agree, focus their efforts on the institutional short sellers.

Beyond the laughs, the only way to break the consortium’s control over the COMEX and spot silver price is to buy physical and take it off the market so that the demand for physical silver will overwhelm physical supply, thus creating a situation in which the paper price will be shown up for what it is, an artificial price sorcerized into existence by the international bullion bank cartel under the watchful eye of governments and their financial sector regulators.

[petebreeze37] 04/3/2021 19:42

They can do what they like, there is no controlling lawful agency who can control them. They want to destroy the proletarian s confidence in gold and silver. It won't work, the cabal idiots in charge, think that money gives then control, just look at the idiot Charles who could hardly pass his gce's. They think they can undo gold and silvers use as money for thousands of years. This scamdemic will be their undoing.

[gramshaw] 04/3/2021 16:18

I count 6 attacks on 1710 and its still standing but no big bounce so nothing settled yet.

[stevea171] 03/3/2021 18:38

EvG: WHAT HAPPENS NEXT?
As interest rates in the US have moved up lately, the negative yield has become slightly smaller and the metals have reacted negatively.

The course of events I see is the following:

US rates will soon top and turn down temporarily as the Fed initiates accelerated money printing.

Inflation in commodities and food will soon show up in consumer prices even though the government will try to suppress it. Real inflation is already considerably higher than the official rate. Based on the official calculation method pre 1980, consumer inflation is now almost 9% according to Shadow Statistics.

After a temporary correction down in rates, they will continue to rise in spite of the Fed’s efforts to hold them down. This will create shock waves in the bond market and all financial markets.

As the Fed loses control of rates, the rising cost of financing the total US $80 trillion debt will lead to economic disaster for the US and a crashing economy.

Massive but futile money printing will lead to plummeting currencies and hyperinflation.

Real rates will remain negative like in the 1970s. I remember interest rates in the UK being 15%+ for many years but inflation was always higher.

This scenario will be extremely bullish for gold. In 1971 gold was $35 and climbed to $200 in 1975. Then it corrected to $100 in 1976 whereafter it rose more than 8 fold in just over 4 years to $850 in Jan 1981.

I would be surprised if gold “only” goes up 8X from here in the next 4 years

[gramshaw] 03/3/2021 16:41

For gold price 1710 seems to be an important level. Using fibonacci retracements this is plausible for the gold bottom from August top. Market seems to be fighting over it, will it stick? watching

[stevea171] 03/3/2021 12:00

Silver strength leading gold. PM markets have now likely bottomed and turning up again this week.
Using gold manipulated weakness as a stick to beat silver has failed dismally.
Silver will not be denied.
$30 coming.

............3/3..... 15/2 .........2/2
Silver: ...$26.57....$27.61.......$27.11
Gold: .....$1723.....$1818........$1844
US$ Index:.90.92.....90.28 .......91.13

[fast lane] 28/2/2021 15:07

A light will soon be shone on the manipulators.

hxxps://gofund.me/405fdf71

[stevea171] 28/2/2021 10:11

Fast lane. Physical gold and silver has been in huge demand for some time now with supply limited to non existent. It is having no effect so far on the ever present suppression on the Comex paper metal markets.

A minimum 2-3 weeks delay in shipping bullion.
Atkinsons Delivery Update. 28/2/2021.

As I’m sure you are aware, the precious metals market is extremely busy at the moment, and we are currently experiencing overwhelming demand for our products, as well as delays due to product stuck at borders etc.

Please be assured that we are working extraordinarily hard to get your parcels shipped and on their way to you as fast as we can. However, we ask for your patience in waiting for your delivery.

Current orders may take up to an estimated 14 working days* from cleared payment to be dispatched. This is due to the overwhelming number of orders already placed with us, as well as limitations on how many parcels we can ship in one day. All orders are secured against stock we have and will be shipped as soon as possible.

*14 working days is an estimation and refers only to products that are in stock and available for dispatch. Other items may have a longer despatch date, these will be advised on the individual product.

[fast lane] 28/2/2021 06:53

Just as Redditors bought billboards in Times Square and across the country, urging people to buy GameStop - it appears someone and a whole lot of donors is raising money to fund "Silver Squeeze" billboards.

On popular crowdfunding platform "GoFundMe," someone named Ivan Bayoukhi created a campaign to raise money to fund billboards for the awareness of "Silver Squeeze."

So far, 310 donors have raised $12,513 out of the $15,000 goal - and while billboard ad space is cheap because of the crushing virus pandemic denting the ad space - why the hell not.

[stevea171] 27/2/2021 14:59

HOC is very liquid so we can buy/sell decent quantities/value very easily.

Last year my portfolio value increased massively due to multi baggers like POG, EQT, ALTN so my HOC holding of about £40k is of little consequence but an anchor stock currently.

[d3009] 27/2/2021 13:24

I stand corrected Steve - thanks for pointing that out. Will still be looking to sell my final 3rd in Hocs early next week. Did you buy back into the share Steve, or still keeping powder dry?

[stevea171] 26/2/2021 21:24

D3009. Today's RNS on Blackrock's holding is 5.5% same as before. Just a minor change in the apportionments.

Madness on Wall St. US markets have come off their unsustainable highs. Good thing too. But the Dow was at an all time record high just a few days ago so not much of a correction thus far. The PPT stands ever ready as always to do 'whatever is necessary' to protect Wall St and the vested interests .....

[d3009] 26/2/2021 20:54

Did you also notice Blackrock reducing it's interest too Pete? I believe it was in the same ball park of half a million shares. My gut feel is not specifically HOC, but the markets in general, folks just getting out with a view to coming back in post reset. IMHO. I've sold two thirds my holding in Hocs now, that said last time I sold the shares went up!

[richgit] 26/2/2021 14:06

Have a say whilst you can !!!!


"Do not rollout Covid-19 vaccine passports "

Found on www.Infowars.com


Uk Gov link..........