Uruguay Mineral (SEE LSE:OMI) Share Discussion Threads

[adam] 27/11/2009 11:55

HP. Thanks. Is there a tax liability from disposals? or iss it Russian discount? i.e what about directors? After Trans Siberian Gold I am more than a little wary of anything Russian.

[hugepants] 27/11/2009 11:38

Ovoca Gold also looks interesting. You can buy at 4p.
There is approx 5.25p per share net cash. And also 2M shares in PolyMetal worth approx 2.65p per share at current exchange rate. PolyMetal has a 3 billion dollar market cap so these shares are liquid (effectively cash equivalent). Operating cash burn is minimal. Also they invested about 25% of the cash in liquid gold stocks about 4 months ago so one would hope showing a sizeable profit

[wimbled] 27/11/2009 10:20

target is 42500 oz

[skidaddle] 27/11/2009 10:20

UGY looking quite resiliant today compared to most goldies.

[adam] 27/11/2009 09:44

3 People Died And Over 5000 were Evacuated After Flood

UGY plant is also in the North and the Minesite article already intimated there was production lost to rain. No trading statement but I'm expecting numbers to disappoint.

There's no debt, and no hedging, and even if, due to heavy rains, production during the most recent quarter hasn't quite met expectations, David is confident that the company is still on track to produce its targeted 60,000 ounces for the year

[adam] 27/11/2009 09:38

It's important for gold to perform well in times of crisis. it seems to have so far. Down a bit today, but where else is safe harbour?

[dogberry202000] 27/11/2009 09:03

Not looking good for either gold or UGY. Indeed, it could get very UGLY.

[shanksaj] 27/11/2009 08:49

THX, good call:-

dogberry202000 filtered

[thx1138] 26/11/2009 16:31

What, your portfolio? Dogberry202000 filtered.

[dogberry202000] 26/11/2009 16:18

14p by January?

[wimbled] 26/11/2009 14:45

Three measures to determine when gold bull market is over.

[wimbled] 26/11/2009 13:53

Au will be trading from $1350 to $1500 by xmas.

All the gold in the world = $50 trillion. QE was $200 trillion.

Very disappointed if UGY hedge.

Gold could easily adjust to $5000 within 5 years.

I'll post the links

[adam] 26/11/2009 11:45

I thought that they did a good thing when they hedged at $800 and it lost them profit. I also thought gold would top out at $350 when i was buying gold miners at $250. My gut tells me it will come down, but then there are such things going on with the world and currencies and I have been reliably wrong so far. On balance I feel that if you are nervous of gold crashing you should sell gold shares and not be exposed or open a point spread bet on gold itself to hedge yourself leaving other investors the option not to be hedged. The Indians bought $7b worth at $1100 and Barrick have closed their hedge book. I think despite the risks we should go with the flow.

[themoneymonster2] 26/11/2009 11:44

I think so to, but just in case, they could hedge say 20k ounces at $1185 which would give them a profit on that alone of $9.4 million ($715 costs) or around £6 million. That would leave the remainder to full exposure to the gold price.

[stevea171] 26/11/2009 11:41

money monster. Gold is going much higher imo.

[themoneymonster2] 26/11/2009 11:38

Anyone else think UGY should hedge a little here?

[corrientes] 25/11/2009 23:59

With China's surplus growing at such a rapid rate now, they have to keep on buying just as rapidly just to maintain their low proportion of gold to fiat.

[robson1974] 25/11/2009 23:54

i think the gold price could go 'exponential' if fordtins chart is to be believed and if China and India do end up competing over the IMF's last 200 tonnes ; end of the supply overhang and then if you are Chinese/Indian strategic buyers you have to wonder why pay the IMF $1200/oz when you can buy UGY/UME (Uruguya Minerals) or MWA (Mwana Africa) for about $10/oz for the resource in-situ

[stevea171] 25/11/2009 22:34

As a result of gold becoming a regular news item eclipsing previous records, there is likely to be a lot of money sitting on the sidelines that could move into gold and gold miners but is waiting for the gold price to correct to give a cheaper entry point. The gold price has had minor corrections at $1050, $1100, $1150 but is continuing on up to likely $1200 and above in coming days and months ($1190+ as I write).

If there is no major correction by Xmas, I expect the New Year tip sheets will be full of gold miners as investments that will be expected to announce sharply higher profits from the uncorrected gold price. These 2010 tips will likely include UGY as a minnow but one of the cheapest entries with full exposure to the gold price as it is an unhedged producer in a turn around situation.

The next month or two could see a rerating here and at other gold miners that have been largely overlooked so far with the main interest in the large cap gold miners and those whose attractions are obvious but whose share price is largely up with events. In searching for value, there is likely to be a wave of catch up for some of the smaller gold explorers and producers that have so far missed the party.

[argy2] 25/11/2009 16:42

My VGM profits far outweigh any loss on NXS. Just stick to you own sad life and the thread you supposedly have stock in.

[robson1974] 25/11/2009 15:51

All three TW stocks, so wind your neck in rather than be a sour loser