Hochschild Mining Share Discussion Threads

[eeza] 20/12/2017 21:01

Yes, Eddie George, Govenor of the BOE at the time.
This piece from Mauldin is an interesting read and mentions the quote from Eddie George.

" BUT several years later a conversation surfaced that had involved Bank of England Governor Eddie George, shortly after the Washington agreement was signed in 1999. Whereupon many of the doubts surrounding the motives behind the strange doings in the gold markets disappeared like my buddy Whipper West 20 seconds before the bar tab is presented:

(Jesse's Café Américain): In front of 3 witnesses, Bank of England Governor Eddie George spoke to Nicholas J. Morrell (CEO of Lonmin Plc) after the Washington Agreement gold price explosion in Sept/Oct 1999. Mr. George said "We looked into the abyss if the gold price rose further. A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake.

Therefore at any price, at any cost, the central banks had to quell the gold price, manage it. It was very difficult to get the gold price under control but we have now succeeded. The US Fed was very active in getting the gold price down. So was the U.K."

[d3009] 20/12/2017 15:33

I see Marshall Wace has again reduced its short position in Hoc on the 15th.

[charles clore] 20/12/2017 15:22

People talk about stacking silver... but they should have been stacking these leveraged little beauties!

[ifthecapfits] 20/12/2017 15:08

No sell off yet.

[charles clore] 20/12/2017 14:42

Just waiting for the inevitable selloff on US opening now... NYmex has started

[onedayrodders] 20/12/2017 11:24

yes apologies Charles .. I'll open the window next time

[charles clore] 20/12/2017 11:19

I think someone just had a xmas dump!

[juju44] 20/12/2017 09:00

As long as silver goes up its all ok

[stevea171] 19/12/2017 21:33

This is a long article but well worth reading in its entirety at the link at the bottom as it gives an insightful explanation of the current state of PM rigging on the Comex.

Stewart Dougherty: EFPs Are Much More Disturbing Than Just A COMEX Delivery Failure
December 18, 2017

In recent months, the issuance of gold Exchange for Physical (EFP) contracts has surged. EFPs convert a physically deliverable Comex gold contract into an LBMA or LME contract supposedly deliverable at a later date ex London and/or Hong Kong. As an incentive for Comex contract holders to accept EFPs, a cash bonus reportedly is paid. EFPs in silver are also being issued in vast quantities, but we will focus on gold for brevity.

Most gold market observers believe that EFPs are a Comex gimmick designed to prevent, or at least forestall a formal Comex delivery failure. We believe the full story behind the EFPs is more complicated and disturbing, and that it involves collusion, conspiracy, and fraud.

In order to fully understand the corruption within the gold market, we believe that one must first understand the full extent of American political corruption, as the two are directly linked.

The important question is: Are the EFPs solely designed to prevent Comex delivery failure? We don’t think so. We think the EFP story is bigger than that.

As we have outlined in recent articles, it is critically important to the Deep State financial elite that the price of gold not “go Bitcoin.” If it does, it would create a buying stampede that would feed on itself, sucking funds out of individual bank deposit accounts. Banks make money by controlling depositors’ money, and precisely nothing from a box of Gold Eagles buried in someone’s back yard.

The way to keep a gold buying stampede from happening is to sharply depress gold’s price, making gold look like a terrible place to put money. Human beings are momentum chasers by nature, which is broadly evident in the current Bitcoin and stock market phenomena.

The control of the gold price is a technical and complex process. Some people wonder why, if the manipulators could crush the price from $1,900 to $1,250, why haven’t they kept pushing it down in order to profit even more? Why haven’t they taken it down to, say, $1,000 or $750?

The gold price manipulators are therefore required to cap the price not just on the upside, but also on the downside. If the paper price were to go lower than the supply / demand equilibrium price, this would trigger delivery failures that would spread like wildfire as everyone raced to buy disappearing, increasingly non-available gold. Buying stampedes are created by the non-availability of merchandise desired by consumers, because it is human nature that when people are told they cannot have something, their desire for that thing goes exponential.

As has been pointed out by several gold market experts, it is inconceivable that the LBMA has the ability to deliver the quantity of physical gold represented by the massive number of EFPs created in recent months. But we believe this misses the point. It was never the bullion banks’ intention to demand delivery of the OPM contracts, which are nothing but shadow, price control mechanisms.

This is why, despite the fact that the enormous gold futures trading volume in New York and London would by now almost certainly have produced delivery failures, if they were all legitimate and real, there have not been any reported delivery failures. The only explanation for this is that a large number of these contracts are shadow OPM Contracts whose sole purpose is to control the price of gold, and which are then vaporized after they have served their price manipulation purpose.

Please keep in mind that the control of the gold price by the deep state financial elite is not some parlor game that they play for their enjoyment; it is an absolutely critical requirement in keeping the fraudulent fiat currency counterfeiting scheme from collapsing. There are literally trillions of dollars at stake, and the entire counterfeiting scam could and almost certainly would implode if gold “went Bitcoin.” If that were to happen, gold would tell the world the sobering monetary, financial and economic wisdom it has gleaned from 5,000 years of study, experience and reflection. The simple fact is that the financial system cannot handle the truth that gold knows, and that it would tell, if it were allowed to.

[onedayrodders] 19/12/2017 20:45

nice chart

[dt1010] 19/12/2017 18:00

Richkid I probably will. I have the money earmarked

[richkid71] 19/12/2017 17:53

I told you all the other day people go nuts on here just because it rises a few pence, only to end up being disappointed. It will happen when it happens. Same info everyday, pointing out when NYMEX make they attack. It’s the same time, every dAy, we get it.

[charles clore] 19/12/2017 16:53

Sellers r us r taking this back down

[eeza] 19/12/2017 15:20

Sickening for Red.

[onedayrodders] 19/12/2017 15:13

Shock ..horror ..Nymex want PM's down

[eeza] 19/12/2017 14:31

Time for the boys in dark glasses.

[stevea171] 19/12/2017 10:36

RNS Number : 7769Z

Hochschild Mining PLC

19 December 2017

__________________________________________________________________________________

Board Appointment and Changes to Directors' Roles & Committee Composition

Hochschild Mining plc (the "Company") announces that Dionisio Romero Paoletti, Chairman & CEO of the banking group Credicorp, will join the Company's Board as a Non-Executive Director from 1 January 2018.

Mr Romero has been appointed as a nominee of the Company's majority shareholder Pelham Investment Corporation ("Pelham"), which is controlled by Eduardo Hochschild, pursuant to the rights granted to Pelham under the Relationship Agreement.

Changes to Directors' Roles & Committee Composition

The Company also confirms that with effect from 1 January 2018:

a) Michael Rawlinson will assume the roles of Senior Independent Director and Chairman of the Remuneration Committee to succeed Enrico Bombieri following his retirement from the Board;

b) Eileen Kamerick will become a member of the Remuneration Committee; and
c) Graham Birch, Eileen Kamerick, Michael Rawlinson and Dionisio Romero will join the Nominations Committee.

Eduardo Hochschild, Chairman said:

"I am delighted to be able to welcome Dionisio to the Hochschild Board. He brings vast business experience from diverse industries throughout Latin America and I look forward to his participation. I am also pleased to be able to confirm Michael Rawlinson's appointment to the role of Senior Independent Director following Enrico Bombieri's decision to retire from the Board at the end of the year."

From 1 January 2018, the Board will comprise eight directors of whom five will be independent Non-Executive Directors.

Notes

Dionisio Romero (Jnr) is Chairman & CEO of Credicorp and its subsidiary, Banco de Crédito del Peru ("BCP"), Peru's largest bank. Mr. Romero has served as a board member of BCP since 2003 and was appointed Vice Chairman in 2008 and Chairman in 2009.

Mr Romero is also the Chairman of a number of Credicorp group companies, namely Banco de Crédito de Bolivia, El Pacifico-Peruano Suiza Cia. de Seguros y Reaseguros S.A., El Pacifico Vida Cia. de Seguros y Reaseguros S.A. In addition, Mr Romero is Chairman of Alicorp S.A.A. and a Director of a number of companies including the following publicly listed companies: Inversiones Centenario (where he serves as Vice-Chairman), Cementos Pacasmayo S.A.A and Sierra Metals Inc.

Mr. Romero is an economics graduate of Brown University and has an MBA from Stanford University.

Other than as set out above and Mr Romero's former directorship of Banco de Credito e Inversiones (Chile), there are no matters to be disclosed under Listing Rule 9.6.13R.

[richkid71] 19/12/2017 10:16

You won't sell at 350P, the greed will take over. Making money isn't everything in life.

[dt1010] 19/12/2017 09:23

Just get up to 350p over the coming months, biatch.

[topicel] 19/12/2017 08:54

Indeed juju, and we still await the shutdown and debt issues...hindsight eh? Never mind go away in May, in the PM world it is clear off in September between rate hike then and December it seems.

How many wish we'd have been so prescient?

I'm holding you to that old gap around 320p though mate, but for now we need to bust the recent highs which were in the 259p vicinity I believe. And convincingly...

Topicel

[stevea171] 19/12/2017 08:29

HOC. This could be the first genuine move to break out of the long established 220-240/260 range if the metals establish a strong uptrend and maintain momentum into 2018 which many commentators are expecting.

Portfolio managers use a method called 'rotation' where at the end of a year and going into a new year they cut back on stocks that are fully or over valued and rotate into sectors/stocks that are undervalued like PM miners. With the emphasis on the cryptos, I would expect this to occur for PM miners which are more of a traditional stock selection and this sector incl HOC to benefit over the next 4-6 weeks or so especially.