We are getting back to the previous dec lows in the PM stocks - well... in all the ones I watch. Noticing a large concentration on the sell side of most Gold companies share price over the last week What does this mean? What is the future? Is it time to start nibbling...? Jim Sinclair said on Ellis Martin - that gold will either explode here or we will have a holiday over summer first. I want to expect something less dramatic, like 'go up sharply', but these lows in the stocks are a possible catalyst or sign post for rises in the gold price soon. Keep watching and you should have a shopping list and a number at which you are happy to buy - dont buy blind, and dont buy drunk!
How quickly the prospect can change for a mining company - especially the gold and silver miners. Have a look at Medusa's (MML) announcement today - earthquake tremors and ground saturation caused subsidence in 4 leaching tanks and they'll be off-line for 5 months. Also an electrical upgrade will force general shutdown for 2 weeks. Medusa's chart looks like possibly a head and shoulders is coming into play. Over-priced anyway, if you go by Monty's Skaffold program. Ramelius (RMS) had a pathetic production update for Mt Magnet a couple of days ago that has been treated with disdain by the market. Usually when you get a photo of company people with Sh*t eater grins holding up a gold bar the company is in trouble. Also, suspiciously, no comment about Wattle Dam production. Untrustworthy drop-kick management. Not worth touching this sector of the ASX.
Maybe, but still stands for all mine, and I've got etched in memory pics like from Citigold years ago - never had a HY of profit since. I take news photos of gold holders at the very best as nothing, and usually worse.
No not maybe and there is no comparison with Citigold. RMS have just brought there second plant and mine online albeit slightly late.
The bull market is shaking people off. Is it near the bottom? I don't know. But I suspect not much is going to happen in 2012 regardless.
From the October 2011 presentation, ".....first gold pour expected January 2012". They should have been close to full ramp up now. Wishy-washy statement about tonnes of low grade ore (0.8 g/t) on pad "with higher grade ore to be mined over the coming months". What the hell does that mean? How much higher grade and how many months? When they leave that sort of wiggle room you can bet things aren't going to plan. What is their plan - what they make up on the day of the announcement? No update on Wattle Dam to accompany anaemic first pour at Mt Magnet announcement is gloooomy
anaemic first pour? What's a typical first pour like. There have been a couple of updates on Wattle Dam. Plant is up and running and grade gone up again. From early Feb. I take it you sold?
It's a bit of a cognitive struggle for you isn't it, lol? I said the announcement was anaemic. But the gold pour evidence is a bit 'anaemic' I guess, since the plant was commissioned some time in December, and here they are 3 months later brandishing a 300oz dore bar worth maybe $400k - zowie Nope - but certainly under consideration if it rallies. I like criticizing companies I've invested in.
Doesn't read that way to me but whatever. If you are putting RMS in with the likes of Citigold you should have sold before now. edit an anaemic announcement doesn't make much sense to me either. Here's a first pour announcement from Silver Lake. Don't see much difference except the addition of an about page. http://www.asx.com.au/asxpdf/20080430/pdf/318v3bxvpq4lkv.pdf
I agree, I got bullish against my better judgement. Suspect we will go sideways for quite a while in terms of both the gold price and the gold stocks. Hope to be proved wrong thought.
You must be Monty Pythons black knight mate - if I had read anything like Silver Lake's announcement that you linked and it actually was about Ramelius's first pour it'd be like fresh DNA evidence had discovered the real killer and I'm out of jail. The SLR piece is basically an all systems go announcement - ".. we now expect to rapidly expand Mt Monger". All the ramp up schedule dates are in there, the expected cost of production, reaffirmation of resource tonnage & grades - all the affirmative stuff that is not in the RMS announcement which is a black hole.
But with RMS, it puzzles me that Sprott has been a big shareholder for some time. And they are not fools. Has RMS gone from good to bad - over the last couple of years?? Please advise.
Black_Sun, this thread is diverging further from the initial general topic, so I'll discuss my sentiments on RMS with you a bit later under an RMS specific header
Thanks finicky. Actually I wouldn't mind asking a few questions about a couple of gold miners, so maybe a new thread? Cheers.
They had some production problems from a mill failure a while back and the market punishes that sort of thing. The sentiment for gold isn't helping much either. Whatever you holding a stock you obviously don't like doesn't make sense to me either. expecting to do something and having brought on a second revenue stream are two different things.
I know that if i am getting sick and tired of this shit - I KNOW every one else is getting sick and tired So I just need to wait a bit longer. NCM is trading below $29 and it is a good buy - just understand that the Indonesian government are enforcing laws limiting forign ownership - factor that in when you do your math. Today I saw BDR Beadel Resources at my december buy price - so I bought more. Times like that dont come along often. I was happy to buy - I know the risks of repatriation of currency in the south american contries - but im not really concerned about it. I also bought Convergent Minerals CVG today (to my surprise) for 0.046 - just a punt on a company that has some past producing mines with only shallow drilling. Its always hard - but I preffure to buy when everyone is scared or doesnt care, I believe in the prescious metals story - and I believe the manipulators cant win forever. Id never sell at these prices anyway - unless it was a dead weight that I could re0invest the capital and make back the lost percentage.
The NCM is a bit of a worry. If they do have to sell down hopefully they get a decent price? With Kingsgate so low I'm thinking of tipping the dividends that are coming through from them and some other stock back into them. Hopefully the next dividend will move back up if there are no more problems.
