Medusa Share Discussion Threads

[forwood] 01/8/2015 13:52

Chip, your post 34596 reporting AISC is a little out of date. I follow the Russian miners POG and Poly, and Cey.

In April, POG reported AISC for 2014 at US$970/oz with TCC at $865. The recent July update reported TCC for 2015 at $600 (they didn't mention AISC). Pro rata that would cut AISC to about $705, less than half what's in your list.

Similarly Polymetal - you had it at $1034 but Poly recently reported TCC in range of $575 - 625/GE oz and AISC of $750-800/GE oz. (GE = gold equivalent).

In May 2015, Cey reported guidance 420koz Au at $700/oz TCC, & $950/oz AISC, reducing to $900 by 2017

As AISC is meant to be an industry standard, I'm taking the co's reported figures at face value.

[deka1] 01/8/2015 11:05

Blue hi, re that Mcalvany link,
they talk about the subject we were discussing the other day on here, WHY cant the PM mining industry just get together and form a federation, and set up there own refineries in different parts of the world, I mean a gold mining refinery is not a big operation , its just smelting D'or which is already around 85% pure,its just the last step in getting to pure gold 9999.
I'm sure the mid to large caps could have whip round to get the cash to set this up, then each member would have a share in them,they could be operated like a stand alone company,and self finance by charging the going rate to those same members for the service of refining.
Is there something preventing this kind of operation from being started up ?
if anyone knows the leagality of this please tell me.
Because it looks to me that the BoDs of the PM miners don't give a toss , they just accept the status quo .

[bluelynx] 31/7/2015 20:41

I wish Medusa had the Management and track record of OceanaGold



They have mines in New Zealand and more recently in the Philippines and El Salvador.

Their AISC are an incredible $830 oz and these costs are expected to fall! So they have very health margins even at the current gold price.

They have just announced the purchase of one company I hold that being Romarco Minerals.

I expect their current shareholders did not appreciate the near 20% fall in share price on the announcement of the purchase of Romarco, but given the Managements track record long term it should be a good buy.

[augustusgloop] 31/7/2015 20:25

Looks like the conmen of the LWM & Comex are failing to hold the gold price despite their massive purchases of paper gold.

The Chinese sales of physical just keep clobbering it back down overnight.

[bluelynx] 31/7/2015 18:13

deka

Yes I did note his little chuckles at several points during the jnterview, for me he is right on the money, gold money of course.

Nice to see gold stabilising some what, I do like to to see lots of negative reports on gold in the MSM and the from the usual major banks it kind of gives me quite a bit of reassurance that gold may have bottomed.

Interesting podcast from Mcalvany

[deka1] 31/7/2015 14:06

RE the ETFs , remember this from 2011,

[arja] 31/7/2015 12:53

seems to want to reach that 50 level and down again in OZ after a mini rally .No support from gold price which has also turned down again . i feel that anyone holding stock should be gradually offloading or at least making a bit with shorting through CFD even if just to reduce the holding cost.

[deka1] 31/7/2015 12:33

TF hi ,as the ETFs are operated by the same bunch that control the price of gold / silver/plat, ie the big banks,how can there holdings of actual gold be believed,why should the ETFs be any different from everything else they have there dirty little fingers in,so I don't think they have the physical metal the say they have, so it wont have any bearing on the global supply and demand dynamics imo

[tightfist] 31/7/2015 10:31

Interesting posts, One thought, what are the likely outflows from investors panic selling physically-backed ETF's? Could it have a significant impact on the short term physical Supply/Demand balance?

Cheers, tightfist

[deka1] 30/7/2015 17:09

Yes Steve I understand,and Neils may have a point ,re just not selling any gold in Aug,and they could start selling just enough to cover costs and sit on the rest till the price improves , as in cash in gold on account, it still shows up in dollar terms on the accounts don't it ?.

[nielsc] 30/7/2015 15:46

chapv: The Chinese don't need to do that as the US is doing it for them. The US have dug a hole for themselves and are only making it deeper. The end result is they will get buried.

stevea: Ironical that would probably be deemed illegal and you would see some white collar workers get sent to jail. Not the ones that should go to jail, but criminals sending good honest hard working people to jail.

Many gold miners will be stopping sales in August as the loss they make for every ounce sold grows bigger and bigger.

Cheers,
Niels

[stevea171] 30/7/2015 15:20

The idea would be not to shoot themselves in the foot but to get the Crimex cleaned up.

Many miners report quarterly. August is not a quarter end month but September would be. For accounting reasons, suspension of sales in August would not affect company reporting if August mined metal is sold in September.

[deka1] 30/7/2015 15:02

sounds a good place to start steve, .but why not make it 2 months,can they afford to do that,should have enough cash on hand to pay wages for a couple months

[stevea171] 30/7/2015 14:56

Dek. re what's to be done:

50 or 100 of the top PM producers should get together and write an open letter to the Crimex, Fed Reserve, US treasury, all newspapers, media saying:

The undersigned 50/100 PM producers are suspending all sales of gold, silver for the month of August pending action in the suspension of trading on the Crimex, and pending the initiation of regulatory inquiry into the criminal fraud, manipulation and criminal activity of short selling of paper gold and silver with in many cases no metal coverage and exceeding 100x leverage of registered metal at the exchange.

Further, if oversight action is not taken we reserve the right to continue the suspension of PM sales further until the matter is resolved to our satisfaction.

xxxxx, CEO
yyyyy, Chairman
zzzzz, CEO
etc

[chapv] 30/7/2015 14:55

Hi Tightfist and Deka, I must admit I have been thinking along those lines re Chinese buying gold. It allows them to get rid of some of their IOU dollars and also back their currency with something tangible further down the road.It is obviously in their interest to buy gold as cheap as possible could they be crashing gold as well?
chapv

[tightfist] 30/7/2015 14:50

Hi deka,

Yes, the key enabler is the existence of a credible physical market - with it's own pricing mechanism and sounds just the ticket. Of course, if people had to pay the real cost/price the demand will soften - depends on how scared folk are.

As for Greece, the fat lady hasn't sung by a long way. Unless they come out, it looks as though it will haunt markets in cycles for many years to come. If they do come out.....

Cheers, tightfist

[tightfist] 30/7/2015 12:41

Hi deka,

I like the rant - but be careful, it seems as though thinking-through a "plan B" within Greece is possibly treasonable..... At that point the world truly went mad!

Reading all the stuff about the US smacking down Gold and the Chinese likely being in collusion - I wonder about the long-game. Are the Chinese insane accumulating Gold and Gold Mines? Or are they astutely playing a (very?) long-game which one day will guide Gold towards to it's former status and value? If so, how long is "Long".

Cheers, tightfist

[deka1] 30/7/2015 11:56

Niels hi, the fraud has been going on for so long now that I don't believe anyone dealing in paper gold expects to get the real stuff ever, in fact I don't believe that any investing private institution will play in the paper market, I think the only players in the rigged game are the FED through their proxy hedge funds and whatever other ways they use , I mean the fraud has been outed for a very long time now, and why would anyone outside the game play where the cant win, the whole financial world knows by now what its all about,
So put it this way lets say outsiders go long gold , because all the pointers show that to be a reasonable bet,all the signs are there, then the dump of 50 tons of non existent gold comes again, and against all the signals gold get stuffed and all the stops are triggered,those investors loose there shirt again, how many times does it take for that to happen till the outsiders learn
that its a bad bet , whatever the runes tell them.
I believe the paper market is played only by the USA GOV through their proxies because they have total control of the price, no laws of supply and demand or any laws for that matter.
good luck mate

[nielsc] 30/7/2015 10:20

deka1,

I think the problem lies in that many people are willing to hold paper certificates for unalloacted gold. Although holding certificates for allocated gold may be equally risky as there is still no gold to back the promises.


Cheers,
Niels

[deka1] 30/7/2015 09:56

Nielsc hi, the Yankers have created a surreal financial world where nothing is based on supply and demand ,the basic rule for any market, therefore there are no markets any more, just a system that they run to allow the Yankers to rape the worlds resources for 10c on the dollar, we can only HOPE that the rest of the world can somehow force change eventually, how they will do it ? I have no idea.
As gold / silver are the only real money , I think its time that the worlds PM miners took matters into there own hands somehow, by forming a federation of precious metals producers, could they not do this?, if they all or most got together and created a refining operation of there own and a market place of there own, why have they not done this or something like it,and eradicate the corrupt system that is forcing them into ruin.

[deka1] 30/7/2015 07:33

As if by magic there goes gold again, another clip round the ear lol