Mining Minerals & Metals Share Discussion Threads

[1waving] 02/5/2008 21:50

Taking a position on someone elses comments is a bit wild unless you have your own trading system to protect you. Good to see that you've pulled up your stop for a guaranteed profit as long as you don't move your stop down. Have you traded much before and will you trail your stop ?
That rapid price rejection from $845 could be significant, it may have drawn a line in the sand.

[dr fillip strange] 02/5/2008 19:30

Took out a June buy spread bet on gold today (on strength of Jim's comment), pulled up my stops so it won't make a loss. I'm gonna let it ride see what happens...come on gold time to shine!

[1waving] 01/5/2008 18:11

Posted On: Thursday, May 01, 2008, 12:32:00 PM EST

In The News Today

Author: Jim SInclair

Dear CIGAs,

Let's cut to the chase:

The potential for the bottom of the gold price being today is 75%.
If it is not today, then the bottom for the price of gold is very close by.
The downside in gold will be in by the end of the first week of May or sooner.
On the 8th of May interest will increase in junior precious metals shares. This interest will first be in the most meritorious issues.
Probabilities support the price of gold going back above $1000, failing, and on the third try making a new high.
The price of gold is going to $1650.
The euro is going to a minimum of 2 to the dollar.
The USDX will trade at .5200
Precious metals shares will be the darlings of the market prior to 2011.

---------------------

Seems Glencar has jumped the gun, ahead of the most meritorious !

.

[serpicouk] 30/4/2008 23:38

Took a quick look for it earlier but didn't find anything. Wonder if they publish their notes or if its only a client distribution?

[robbi123] 30/4/2008 23:36

Cenkos give a 15.5p price target for GEX.

I personally think that is still cheap and is only valueing the Komana West and East prospects. Much more upside to come, and Hugh knows it:)

[1waving] 30/4/2008 23:30

Not a great believer but have seen quite a few articles which do put faith in the gold/oil ratio. Not too impressed with the article in that link.
Any links to that Cenkos 'buy' note ?

[serpicouk] 30/4/2008 23:02

Think this was on The Sun yesterday "GLENCAR MINING jumped 0.43p to 9.48 as broker Cenkos urged clients to buy"

Anyway, anyone have any faith in the gold/oil ratio?

[1waving] 29/4/2008 23:19

From an article by Greg McCoach of GoldWorld - 29-04-08 :--

Outlook for Gold and Junior Mining Stocks

Needless to say, I'm very bullish on gold. In fact, I think gold prices may move from $1000 to $2000 an ounce in a matter of six to eight months, depending on how the issues with the dollar pan out from here. So be prepared.

However, junior mining stocks are in a real funk. There's no denying it. And I think that we're going to stay in that funk until we get past the capital gains taxpaying season. After that I think higher precious metal prices are going to start pulling junior mining stocks out of the trough and moving them much higher.

There are three or four big hedge funds in New York that have gone long gold with all the majors, but have shorted all the juniors. But as gold an PM prices keep going higher, the juniors are going to move higher, and these guys are going to have to run to cover their short positions. And that should launch our junior market up to new highs. So, my outlook is to stick with it.
------------------
Full Article

[1waving] 29/4/2008 23:08

Serp, a thought on the drilling for extent or infill at Komana East. If they do find a very high grade zone in the North of say 3-400m it may make sense to step out a couple of hundred metres beyond that and then at least do infill drilling within the very high grade zone to get a good resource estimate. Just 3-400m of very high grade with good width and depth would add very substantial resource ounces.

The next results will prove key to establish if there is a very high grade zone. With the last statement of very extensive, visual indications of good grade mineralization, that sounds a good starting point.

[serpicouk] 29/4/2008 22:36

Will be nice if we can get north of 10p again.

Some gold charts of interest:

[bartender18] 29/4/2008 10:05

I've added this morning again.Looks good.

[1waving] 29/4/2008 09:35

Thanks Dr F, looks like mm's are short of stock, getting squeezed.

[dr fillip strange] 29/4/2008 09:28

When I saw the price on IEX this morning I thought a positive RNS had been issued, not the case, volume now 300k.

stock shortage?

[1waving] 29/4/2008 09:19

Is there a large buy order behind today's move up on no volume or is it based on ISEQ trading ?

[bongo bwana] 29/4/2008 08:51

Keevo,

Looking forward to hearing from you.

[tonudiki] 29/4/2008 08:46

The awaited assay results from the 2 northern fencelines at komana East are behind this recent buying IMHO.

I,m still adding.

[steadyeddy2] 29/4/2008 08:41

Nice bright start to the morning.

[robbi123] 29/4/2008 08:41

Moving up led by DAVY and GOOD....

[gerri-c] 29/4/2008 08:38

Something stirring - moving up on no volume?

[1waving] 29/4/2008 08:20

Valentine, if we have a good commercial strike at Solona as well as Komana that will give them the choice of a farm in on one and develop the other themselves, have to wait to see what is at Solona.

[bartender18] 29/4/2008 02:16

And the Great Pillock Gordon Brown sold all ours when it was around $200 LOL

[valentine] 29/4/2008 00:26

Are they capable of being a producer on a large scale? That takes mucho dinero to make it happen. Placing dilution horrors occur to me. They'll need to do a Farm-in agreement minimum if they are to achieve that from this perspective, and from what I understand. They do have an option on a small acreage, for the right price, in the immediate area from what I recall. that extra acreage is where they can make the real money. Maybe that is the bonus get out factor once someone checks into or indeed snaps up a large part of the main bonanza grade chunk?

[1waving] 28/4/2008 22:44

The quality deposits that Glencar have will be under scrutiny from many majors needing to top up reserves. The Chinese companies are acquisitive backed by lots of cash. China's foreign reserves of $1.5 Trillion have only a tiny percentage in gold, they are looking to increase that percentage. Am not fussed who tries to buy Glencar or into Glencar but not for a while. The early stage takeovers will be on the cheap.

Would like to see Glencar prove up reserves and become a producer itself at Komana or Solona.

[valentine] 28/4/2008 20:44

Indians and Chinese and most of the Middle East value gold above all things.
In Turkey it is a sort of insurance and saving scheme all in one to the wife. The traditional gift from family's at a wedding is gold in one form or another. A girl can have 40-50 bangles on each arm after a wedding. We are down to the gold rings but same principle applies except now the toaster substitutes for the bangle.
The idea in the east is in times of trouble and turblence the gold retains its value against unstable currencies. Material goods are transient but gold always holds its value.
So it is unlikely to fall by the wayside these days when the dollar is as unwelcome as it appears to be.
Chinese are now getting rich enough to want gold every time in all forms. This is more than just the jewellery end of things. It is endemic top to bottom in society. We have forgotten what gold means in our secure western surrounding. We may re-discover it if we get to live in 'exciting times'.

Will the Chinese buy directly into GEX do you think?