Mining Minerals & Metals Share Discussion Threads

[robbi123] 07/9/2007 18:32

looked at possibly getting a few more today, tried online and max was 25k. Seems the M's may be short. Nice to see Davy on the bid as house brokers. Have a good wkd all.

[maniac3] 07/9/2007 13:26

Yeah, cheers for the info!

[bongo bwana] 06/9/2007 19:44

Good stuff TS

[bongo bwana] 06/9/2007 19:44

Good stuff TS

[tsmith2] 06/9/2007 18:59

LONDON (Thomson Financial) - Gold hit 697 usd, its highest level this year, as speculative buyers started to come back into the market following a two week rise from the lows of mid-August.

On top of this, geopolitical tensions linked to reports the Syrian military fired on Israeli warplanes, has encouraged safe haven buying by investors.

'Part of this push has been triggered by the tension between Israel and Syria,' said Barclays (nyse: BCS - news - people ) Capital analyst, Suki Cooper.

Gold has been hit hard by the market turmoil fostered by the US subprime mortgage crisis recently, with many funds liquidating positions in precious metals to cover losses elsewhere in their portfolios.

However, with markets still in a state of flux over the extent of banking losses stemming from US subprime exposure, gold has started to find good support from safe haven investors, on top of a seasonal rise from physical purchasing by jewellery firms in Asia.

'It's part of the move up from the lows of mid-August,' said Stephen Briggs at Societe Generale. 'The signs are there that the funds have come back into the market. This rally wasn't started by the funds, but they have joined it and pushed it on.

'It's very impressive as it's doing it without much support from the dollar. It's rising in euro terms as well. We're also moving into a stronger time of year on the demand side.'

Gold normally moves in the opposite direction to the US currency, as it is seen as an alternative investment to the dollar, which is the chief form of foreign currency reserves around the world.

Real bull markets in gold see the precious metal rise against all major currencies, analysts said.

'The precious metals are enjoying a robust performance and are rising both in usd and in non-usd terms, the gold price denominated in euros having rallied around 4 pct to 5 pct since the mid-August lows,' said JP Morgan analyst, Michael Jansen.

At 5.00pm, spot gold was trading at 695.60 usd an ounce against 681.20 usd in late New York trade yesterday. Earlier, it hit an intraday high of 697.58 usd.

In other currency news, both the European Central Bank and the Bank of England earlier kept interest rates unchanged, at 4 pct and 5.75 pct respectively.

This was in-line with market player expectations, so the effect on currency and equity movements, and in turn gold, were limited.

Meanwhile, strong crude oil prices, which are within 2 pct of all time record highs, are also lending support to gold, which often acts as an inflationary hedge against rising fuel costs.

With US crude and gasoline inventories dropping by more than predicted in today's 3.30 pm (London time) snapshot of fuel stockpiles from the Department of Energy, analysts believe oil could push up even higher, lending further support to gold.

Gold prices rose by almost a dollar in the five minutes after the report was released.

Elsewhere, positive demand outlook going into the peak fourth-quarter period was bolstered on Tuesday by news that Turkey had increased its gold exports by a quarter in August, and by 40 pct in the first eight months of the year.

Demand is also expected to be strong in key consumer India after a lacklustre festival season last year, analysts said, although they cautioned that physical buying could be dampened should prices continue to rise.

In other precious metals, silver was flat at 12.44 usd. Meanwhile, platinum was up to 1,283 usd per ounce against 1,283 usd, while its sister metal palladium edged higher to 334 usd from 327 usd.

[deka1] 06/9/2007 17:14

POG, flying, 696 and rising, break 700?????

[tsmith2] 05/9/2007 08:31

Gold Price#

Because we believe de-hedging is largely a phenomenon of the past, we do not anticipate the spring spikes in the gold price going forward. We expect the gold price to increase on a more even basis over the next couple of years as the wealth effect creates higher demand in India, China and Russia with the continuing high oil prices providing support from the Middle East. We also anticipate that as the full impact of the liquidity crisis unravels so the demand for gold will increase.

Table 6: Gold price forecast.
2007E 2008E 2009E 2010E LT
Gold price US$/oz 670 725 620 550 476

Source: FDC, Bloomberg

[tsmith2] 04/9/2007 17:32

Gold looking good for a nice run

Metals - Gold hits fresh 6-wk intraday high on positive demand data


LONDON (Thomson Financial) - Gold was stronger, hitting its highest intraday
level since July 25, as positive demand data attracted investors back to the
market and as in-line US manufacturing data eased fears the recent turmoil in
the financial markets would spill over into the wider economy.
Gold demand is picking up as the peak buying season in key consumer India
gets underway, analysts said, while mining output figures have been lacklustre.
At 4.04 pm, spot gold was trading at 679.28 usd an ounce against 671.80 usd
in late London trade yesterday, having earlier touched an intraday high of
679.68 usd.
"Fundamentals appear fairly constructive at the moment, amid reports that
second-quarter South African production declined 7.5 pct versus the same period
in 2006," said Jon Nadler, an analyst at Kitco Bullion Dealers.
"On the demand side, Indian buyers appear a bit more eager to snap up
jewellery than they were in the first half of the year, although their appetite
for gold might show signs of tempering should prices rise much beyond current
levels."
Stronger than expected demand data from Turkey this morning has bolstered
hopes that consumption of the precious metal will remain strong going into the
seasonally stronger fourth quarter.
Turkish gold imports rose by a quarter to 27,635 kilograms in August,
according to the Istanbul Gold Exchange.
"Turkey is an important barometer (for global demand) because it is a key
exporter to both developed and developing countries," said James Steel, an
analyst at HSBC. "Turkey's physical demand for gold seems good, which confirms
the evidence that we saw last week of India's demand also remaining strong."
Meanwhile nervousness over the state of the US economy may also have been
eased by the release of broadly in-line ISM manufacturing data this afternoon.
"The modest decline in the ISM manufacturing index to 52.9 in August, from
53.8, suggests that the turmoil in financial markets is so far having only a
limited impact on the real economy," said analysts at Capital Economics.
Elsewhere central bank gold sales remain relatively modest. Figures released
today by the European Central Bank showed Eurosystem central banks sold 25 mln
eur in gold holdings in the week to August 31.
Under the terms of the 1999 Central Bank Gold Agreement, central banks of
Western Europe are allowed to sell a total 500 tonnes of bullion between them
each year. In the year to date, the CBGA members remain more than 100 tonnes
short of this quota, analysts said.
Platinum, meanwhile, was trading relatively flat after earlier hitting a
three-week high of 1,275 usd on expectations of production of the precious metal
will decline.
JP Morgan earlier said it had trimmed its annual platinum production
forecasts in the years to 2011, chiefly due to lower expected output from Anglo
Platinum from 2008, and sees greater upside potential for prices as a
consequence.
Platinum was trading at 1,267 usd per ounce against 1,264 usd.
Among other precious metals, silver rose to 12.20 usd per ounce from 12.08
usd per ounce, while palladium edged up to 331 usd against 328 usd.
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[bongo bwana] 04/9/2007 16:48

Robbi - please let me have Ur mail addi.

[robbi123] 04/9/2007 12:30

roughly £25.6mil ------> £45mil mcap

sounds very familiar, unfortunately they have pulled back since.

[bongo bwana] 04/9/2007 12:25

Thanks Robbi - so what was the impact on Market cap?

[bongo bwana] 04/9/2007 11:27

Anyone got market reactions to JORC statements by other exploration company's in the 2007 calendar year to date?

Please give the name of the firm and JORC estimate of ounces together with share price reaction and the related market cap action.


Many thanks in advance.

[maniac3] 03/9/2007 19:19

tsmith2

The chart would suggest (approximately) that.

Lets hope so.

[tsmith2] 03/9/2007 16:58

targeting 13p before month end

[robbi123] 03/9/2007 14:37

some nice chunky delayed buys gone through which caused the tick up...

[tsmith2] 03/9/2007 12:30

before the month is out (2nd to 3rd week)

drilling recommence Oct

[valentine] 03/9/2007 12:23

I expect news sometime this month based on HMc communications with posters here.
Not sure when but soon in scheme of things

[davenic] 03/9/2007 12:19

News coming I wonder all of a sudden jump

[maniac3] 03/9/2007 08:45

Hopefully see a continuation of the buying pressure from last week. Cheers for all the informative links on this BB .... puts others to shame!

[tsmith2] 02/9/2007 20:51

worth a listen

[tsmith2] 02/9/2007 10:08

Davy in their June note on the stock use $600/oz and 0.96m to get a target price of 14p and 1.5m for a TP of 18p - we should certainly get somewhere between the two when the resource estimate comes out later this month ahead of the drilling restarting in Oct (which will increase the resource estimate further still)

[stenick] 02/9/2007 08:40

Another article saying gold will rise sharply.
Would this effect GEX?

[tsmith2] 30/8/2007 11:24

1.5mn is realistic ahead of the new drilling season