Mining Minerals & Metals Share Discussion Threads

[1waving] 15/12/2008 17:12

val
It does work -- I did it at this time last year and an RNS came out the next day !!

Hugh is very considerate of shareholders.

[valentine] 15/12/2008 17:08

OK. I wish it worked like that 1w.
He is a decent man as they say.
If it is next week it will be lost. If it is after next week I will be lost!
ergo..logic would say this week.

[1waving] 15/12/2008 17:06

val - email Hugh Mc then and tell him that you're looking for an update now and what you're expecting news on ie news of progress at Komana and the Gold Fields JV or whatever you think is appropriate. Hugh is very amenable.

[valentine] 15/12/2008 16:58

We are due some sort of update soon. It'll be a waste of time next week.

[bongo bwana] 15/12/2008 08:47

On the IEX the bid-Offier has gone from B2.6 Offer 3.2 to B3.2 Offer 4.4 during the past week - resulting in stifled trade like AIM.

I wonder is there a shortage of stock in Dublin after hefty enought deals in recent weeks.

[share_shark] 15/12/2008 08:29

Almost Christmas.

Let us hope this is us soon.

[share_shark] 13/12/2008 00:17

From another thread.

Shadow gold price.

[share_shark] 12/12/2008 17:39

From the gold thread, if you have not seen same.




Gold seems to be in a larger triangle and have adjusted the chart to show this. We may be in an A-B-C move up or a Five-wave up, either way we have resistance at the dotted red line around $850 to the 200dma $860 at present.

If we get through this the next resistance is the $900 level, then $940-950 First we need to see the downtrend line on the line chart (Circled Bottom of Chart) to be breached, expect some consolidation for now...



GDX slammed into resistance yesterday at the 30 level and we took our second third profit on this trade. We now have in the money stop and our ultimate target of 35 for the remainder of this speculative position. All funds from this trade are being used to buy physical bullion as usual.

You can see GDX has already led bullion by breaking out of its downtrend line (circled on bottom of chart) we may need to consolidate here and perhaps drop back to the 50dma, whereupon an entry may present itself over the next few days. Those who have yet to position themselves in the miners may find this an ideal opportunity to go long their favourite miners or a mining index such as GDX.

[share_shark] 12/12/2008 10:07

Might make you smile :o)

taken from Gal thread.

[share_shark] 12/12/2008 09:39

As another poster has commented, elsewhere, I too am surprised gold has not risen.

[share_shark] 12/12/2008 09:08

Taken from another thread.

mind I seem to make a habit of nicking someone elses.




ScotiaMocatta
Deep-rooted global financial problems will escalate the demand for gold as a safe haven.

Author: Dorothy Kosich
Posted: Wednesday , 10 Dec 2008

RENO, NV -

In its December Metals Matters report, ScotiaMocatta suggests that global financial problems "seem so deep rooted that demand for gold as a safe haven is expected to escalate."

On silver ScotiaMocatta advised, "Investors remain key to silver's fate, but its monetary attributes should keep investment demand strong."

Their analysis also noted that low PGM prices, especially for palladium, are "likely to rebalance the PGM markets before too long-thus providing long term investment opportunities.

Gold

Although ScotiaMocatta remains bullish for gold "we are concerned that gold prices are not considerably higher given the current bullish climate. "

"We see two possible reasons for this. Firstly, funds and investors have been in liquidation mode and industrial commodities have been hard hit. As gold is a component in commodity baskets, which were popular investment vehicles in the commodity boom, gold has been sold as investors have sold their commodities. "

"Secondly, gold has traditionally been bought for a 'rainy day' and many hedge funds and other institutional investors have indeed been having a 'rainy day,' according to ScotiaMocatta. However, as central banks' measures to tackle the financial rout start to work, the level of redemptions is likely to slow and that should provide less selling pressure in gold."

ScotiaMocatta's analysis revealed that gold lease rates have been soaring and "likely to put an end to the gold carry trade, at least for a while. With interest rates falling, the profit margin on gold carry trades has diminished significantly. This means that as former carry traders come to the end of their term, gold will be withdrawn from the system and returned to central banks."

"As carry trades are closed the pressure on the spot market will switch from selling pressure to buying pressure," they advised.

If people lose faith in the financial system and their currencies, ScotiaMocatta forecasts "the growing trend in wanting some gold as (a) store of wealth may start to snowball.".

[stenick] 11/12/2008 08:51

Something else to read.

[deka1] 09/12/2008 22:31

1wave hi , putting your article on the cey board , hope you dont mind , TIA

[1waving] 09/12/2008 20:50

From Jim Sinclair:---

The most likely scenario is when Obama starts there will be 2 trillion in fiscal stimulus and that intervention will trigger the $8.5 trillion bailout into the system, starting an inflation few can imagine.

No lender will fail to loan on a government contract that probably guarantees payment.

Over time fiscal stimulus will be famous for only one accomplishment - triggering hyperinflation

Gold's rally then can be quite long term, as in more than three years.

Gold will trade at $1650, but I am sure even that number is very low.

Reasonable people are saying $3000 to $5000.

Base metals are not staying as low as they are now in a hyperinflationary environment.

Gold as honest money will lead everything.

When the fiscal stimulus fails to establish a sustainable recovery, it will have pulled the trigger for hyperinflation. This is a currency event, not an economic event.

Regards,
Jim

[1waving] 09/12/2008 10:57

RC and RAB drilling has been going for two months now at Komana East -- just hope the analabs are up to scratch this year and we get results pretty soon.

An update from Sankarani/Gold Fields would also go down well.

.

[bongo bwana] 09/12/2008 10:12

That 35,000 BUY this morning is the first bit of decent UK buying in months.

[1waving] 08/12/2008 15:29

Seen several versions of that article over the last few days.

Backwardation means that the further you go out in time with the gold futures contract the less the price gets.

Why is that ? -- Simply because demand over supply is so strong at the moment as there is little gold available to meet demand and the market is getting squeezed now. The hope is in the future the demand/supply will balance out so the futures get lower over time.

I wonder how much the taking delivery on the COMEX Dec contract is affecting spot gold. The latest figures show that 41% of available gold in the COMEX warehouse is being taken delivery of with probably a little more to be added.
That is just the Dec contract -- this taking delivery will be ongoing so the paper market is in for a few shocks. Where will the gold come from to refill the COMEX warehouse ? ( Watch out for smoke and mirrors on that, possibly with Fed involvement )

Masses of reasons for high demand at the moment but the Criminal COMEX paper market has manipulated the price for too long. The dam has to burst sometime !!!

.

[stenick] 08/12/2008 14:19

Thanks deka..

[deka1] 08/12/2008 14:16

hi sten go to the cey board , there's a succinct explanation of it by a poster called chiperfd , yesterdays posts, because their was another link about the same thing posted earlier

[stenick] 08/12/2008 14:10

That fine Deka1, can anyone explain what it means???

[deka1] 08/12/2008 14:09

good article Sten, putting it the cey thread if you dont mind, tia

[stenick] 08/12/2008 13:46

Can't buy gold now apparently?????