Don't Be in De Nile About the Hedge Benefits of Gold. Look at Egyptian Miner Centamin

Published 17 days ago

Hello, Share Jumpers. As the Footsie continues to gain ground with the growing prospect that there’ll be a Brexit soft landing, after all, you could be tempted to veer away from investing in gold. But I’m still minded to have at least a toehold in this hedge against recessions, both homegrown and worldwide...

KEFI Minerals – operational update, progress towards the shares sparking

Published 22 days ago

KEFI Minerals (KEFI) has made an operational update, including “the Regional Government is not yet ready to trigger resettlement due to recent changes to its administration and security structure. However, it has stated that it still wants KEFI/TKGM to be ready to do so later in this current quarter”

Anglo Asian Mining – positive 2018 update, production “at upper range of guidance”...

Published 36 days ago

“Q4 and FY 2018 Production and Operations Review” from Anglo Asian Mining (AAZ), emphasising “full year production at upper range of guidance and net cash of $6.1 million at 31 December 2018”

Did the Three Wise Men's Gold Come from Egypt? Centamin Certainly Knows How to Find It

Published 67 days ago

Hello, Share Punchers. With fears of Brexit continuing to cancel out the Santa Rally, our thoughts should turn more to that useful hedge against disaster - gold. Now short of buying a few gold bars, which I haven't entirely discounted, by the way, the best way to take advantage of gold is to pick up mining stock. There are a lot of small gold explorers and even producers that I will continue to avoid. But the larger ones might be worth looking into...

Ariana Resources – positive Kiziltepe quarterly results, remains a buy

Published 101 days ago

Ariana Resources (AAU) has updated on quarterly operations from its 50% owned Kiziltepe mine, including “we are now well on track to exceed our production guidance for the year”

Galantas shares to treble - this could be a conservative target

Published 106 days ago

I don't normally take broker research seriously but a) Galantas (GAL) operates in Ulster so I am biased in its favour and b) analyst Roger Bade at Whitman Howard is no fool. He reckons Galantas at 6p is worth 17.3p per share. The market cap today is £12 million but Bade explains why by 2020 the company could be generating £8 million of cashflow and by 2023 that could be £13 million and that is on uber-cautious gold price assumptions. The note (below) is very much worth a read.

Hopeful Samples Might Lead to a Glittering Share Rise for this Aussie Prospector

Published 134 days ago

Hello Share Treaders. Down under there is a precious metals company called ECR Minerals (ECR). With gold values possibly set to rise in a difficult environment for most other shares, it might pay to have a gander at this one. ECR’s wholly-owned Australian subsidiary Mercator Gold Australia has Avoca, Bailieston, Moormbool and Timor gold exploration licences in Central Victoria.

Ariana Resources – with production & exploration advancing, remains a buy

Published 141 days ago

Ariana Resources (AAU) has announced results for the first half of 2018, including emphasising “production for the year is expected to exceed initial expectations in the second half” and “we are now in the process of committing to a 4,000m RC and diamond drilling programme across certain projects during the remaining 2018 through to 2019 period”

Kefi – Great news from Ethiopia

Published 145 days ago

Kefi Minerals (KEFI) has announced that, as per the RNS of August 24, it has now signed a binding deal with ANS Mining Share Company which will see ANS invest $30 million for a 23% stake in the Tulu Kapi project (not the PLC). Another $8 million could see that stake go to 29%...

Goldplat – full-year results, underlying progress to translate this year?

Published 145 days ago

Gold recovery and mining company Goldplat (GDP) has announced results for its year ended 30th June 2018, noting that this “was a year during which a lot was achieved which did not translate into increased production or profitability, but Goldplat is confident that this will materialise during FY 2019”

Should my bromance with Randgold Resources continue?

Published 198 days ago

You always have to watch your biases in the world of investment. There are some shares or sectors that for personal, historical or other exogenous/endogenous reasons you just love or hate. Regular readers will know that Randgold Resources (RRS) has been one of my structural favourites for many a long year, with the stock one of my largest (and most successful) holdings during the final part of my institutional fund management career, contributing to outperformance and the like.

Ariana Resources – Q2 production smashes expectations, more share price upside

Published 225 days ago

Ariana Resources (AAU) has announced quarter ended 30th June preliminary production results from its Kiziltepe joint venture, including the company’s Managing Director Kerim Sener emphasising “the results of the past quarter are our best to date, outperforming overall quarterly feasibility-study expectations by 92%”

KEFI Minerals – 2017 results, “significant value generating upside” - BUY

Published 248 days ago

Development and exploration company with projects in Ethiopia and Saudi Arabia, KEFI Minerals (KEFI) has announced results for the 2017 calendar year and emphasised “the company's projections and those of the research analysts that follow us closely show significant value generating upside to shareholders from Tulu Kapi alone, let alone from the pipeline of less mature projects which we expect will yield more value-adding opportunities”

Bluebird Merchant Ventures – Kochang “higher than expected grades”, still a buy

Published 283 days ago

Previously writing on Bluebird Merchant Ventures (BMV) last week, we noted there looks news flow aplenty to potentially spark the shares – and now there’s an announcement of Kochang Underground Grab Sample Results

Goldplat – tip of the year update

Published 393 days ago

An 8p offer price on the initial recommendation piece, shares in Goldplat (GDP) currently trade slightly higher after Update on Negotiation with Rand Refinery and Modification to option Terms between Ashanti Gold and Goldplat for the Anumso Gold Project announcements thus far in January…

Kefi Minerals Fund Raise - grit your teeth and buy

Published 736 days ago

This Kefi Minerals (KEFI) share tip at a 0.58p offer has not been a good one so far. We apologise and as shareholders share your pain. The shares are now 0.34p-0.36p. We took more shares in this fundraise at 0.33p on the view that the underlying value is c1p per share. So what has happened?

Avocet is a testament to the powers of denial of mug punters - its a short

Published 748 days ago

I explained last week why I thought that shares in Avocet Mining (AVM) were worthless. That was without the knowledge that its Inata gold mine only has a shelf life of three years at the current gold price. The company stated as much on Thursday with the painful admission that cashflow from this period is “unlikely to result in full repayment of creditors”

ShareProphets Share Tips of the year 2017: No 15 Buy Centamin says Malcolm Stacey

Published 786 days ago

Hello Share Hopers. Gold prices are not as high as they might be, given the shakiness of the major currencies over this year. These currencies may be come even more unstable in 2017 - the dollar, euro and pound.

Kefi trading update - buy

Published 788 days ago

Kefi Minerals (KEFI) has been hit by the weaker gold price , issues in Ethiopia at a macro political level and by suggestions that its major shareholder ( Odey) may have its own issues. However Mr Odey is doing, we've established that he is not a seller of Kefi. If he needs to raise cash he will do so via larger more liquid positions. The other issues were addressed in a trading statement last week.

Goldplat – full-year results, a gold recovery buy?

Published 880 days ago

Outgoing Goldplat (GDP) Chairman Brian Moritz considers it “a pleasure to be able to report an improvement in both the production and profitability of Goldplat, led by the recovery operations”, though the shares are currently unchanged on the day at 5.75p…

Goldplat – now in a position to advise on its results to end June? …

Published 913 days ago

Shares in Goldplat (GDP) are currently more than 9% higher, at 6p, on the back of a “Trading update” announcement. The following reviews after previous comment from myself last month…

KEFI Minerals – “pleased to announce” placing, is it right to be so?

Published 941 days ago

KEFI Minerals (KEFI) “is pleased to announce that it has conditionally raised approximately £3.8 million (approximately US$5 million), before expenses, through the issue of 761,921,740 new ordinary shares… at a price of 0.5p per share”. Is it right to be so?

Centamin, the Egyptian Gold Miner Seems A Pharaoh Enough Investment to Me.

Published 1107 days ago

Hello Share Smoochers. I got so fed up with Centamin (CEY) the big Egyptian gold miner losing share value on a daily basis that I stopped checking its share price nearly a year ago. My shares just festered away with my most little-used broker. I half-heartedly hoped for a Shrodinger Cat-type recovery if I did not look regularly at the price. 

Tom Winnifrith Bearcast 11 Feb: Trivial Pursuit Q, the sexual hang-ups of Swedes and Leni-maths from Neil Ritson

Published 1108 days ago

Warning: This podcast contains a lot of bad language and images of a sexual nature. As far as I understand it, Sweden is known for the fact that 95% of its population enjoy thrashing the naked buttocks of other folk's partners at the weekend. But it is not this that concerns me but its insane Central bank which has cut interest rates again ... to minus 0.5%. I reflect on this madness and the insanity of Janet Yellen of the Federal Reserve and then on the gold price. I look at a few gold stocks racing ahead wrongly ( Condor (CNR), Goldplat (GDP) and Patagonia Gold (PGD)) and at others I might buy. I comment on the insane dead cat bounce at Motive TV (MTV) and on the odd behaviour of crony capitalist PR man Reg Hoare of TrakM8 (TRAK) and explain why its shares are still a sell. Then it is onto the deadlines for Solo Oil (SOLO) and LGO Energy (LGO) going under as Neil Ritson tries his hand at Leni-Maths. And I also have a trivial pursuit question for you all.

Armadale Capital - DFS imminent: Buy

Published 1113 days ago

We are aware that shares in Armadale Capital (ACP) have not exactly flown since our initial share tip.

Randgold Resources offers a good defensive play

Published 1136 days ago

With the markets in turmoil it makes sense to have at least something more defensive in your portfolio. Gold has historically always been good in this type of situation, and whilst I’m nowhere near as bullish as some are about where the gold price is going longer term, it should at least offer some protection over the coming months.

Caledonia sticking to growth plan - a gold stock to buy

Published 1144 days ago

Zimbabwe gold producer Caledonia Mining (CMCL) says it expects to hoist output this year from its Blanket mine in the south-west of the central African state from an expected 42,000 oz. in 2015 to 50,000 oz. Currently based in Toronto but seeking shareholders' approval to move its domicile to Jersey, the AIM-quoted company sees all-in cash costs at Blanket falling over the coming 12 months to around $900 (672) an ounce, against a current gold price of $1,075.60c, at an expected grade of 3.2 to 3.3 grammes of gold per tonne of ore. 

Tom Winnifrith's share tips of the year No 1 - Buy Petropavlovsk at 6.7p offer

Published 1157 days ago

You have, by now, read my macro calls for 2016 which you may or may not have dismissed as complete mumbo jumbo but I hope they make sense. You will see that I expect the gold price to pick up during the next 12 months. Not to rocket but to improve and that makes Petropavlovsk (POG) at a 6.7p offer a very obvious first tip of the year.

Tom Winnifrith's six big macro-economic calls for 2016

Published 1157 days ago

How many macro-economic forecasters does it take to change a lightbulb? None. You get someone who knows what they are doing to do it. In that vein I offer up my six big macro calls for 2016. I am a bottom up investor - my share tips of the year will follow - so this is not really my forte but I have views - and did study economics at university - and these shape my investment calls. So here goes.

Q&A with John McGloin of Amara Mining

Published 1194 days ago

As one of only two gold stocks I follow I thought it opportune to catch up with Amara Mining (AMA) and its CEO John McGloin. I do rate these shares as a buy. And so we chatted.

Petropavlovsk Trading statement - all on track: buy

Published 1217 days ago

Petropavlovsk (POG) has updated that it “successfully achieved its Q3 production levels” and “is confidently following its repayment schedule and expects to stay within its financial covenants at the year-end results” - good news!

Caledonia Mining sees output surge

Published 1226 days ago

Mark Learmonth, finance chief at Southern Africa-focused Caledonia Mining Corporation (CMCL), says the company intends to lift gold production from its Blanket Mine in Zimbabwe 90% between 2015 and 2020 to 80,000 oz. a year, with all-in costs driven down from $984 (£647) an ounce to a target $750 by 2018, against a present gold price of $1,166.92c an ounce. The AIM-quoted company, whose chief executive officer Steve Curtis has adopted a different approach since taking over from Stefan Hayden last November, has a 49% interest in Blanket, which boasts a measured, indicated and inferred gold resource of one million oz., and has been striving to improve production, grades and profitability there.

Goldstone Resources; gloomy Non-Executive Chairman Christopher Hall knocks stuffing out of sentiment

Published 1242 days ago

Anyone would think Goldstone Resources (GRL) Non-Executive Chairman Christopher Hall didn’t want anyone to buy his company’s stock. After his glum statement in today’s interims, it’s no wonder the company’s share price has tanked 20% to settle at 1.99p. Shareholders in Goldstone would do well now to ask the company two questions. First, how does the gloomy Hall manage to get out of bed every morning? Second, what the bloody hell is he doing as the company’s Non-Executive Chairman if all he can promise shareholders is that “little more progress can be expected”?

Zak Mir's Great Request Show: Central Asia Metals, Gold, Mariana Resources

Published 1287 days ago

If you want me to analyse a stock for you just drop me a line at [email protected] - Today I look at shares in Central Asia Metals (CAML) and  Mariana Resources (MARL) setting share price targets for both. I also look at the gold price.

Petropavlovsk: SP Angel slashes forecasts but still sees 40% upside in the shares

Published 1289 days ago

Broker SP Angel has slashed its forecasts for gold miner Petropavlovsk (POG) citing lower gold prices and output predictions. But with the shares at 5.5p it still sees 40% upside wth a 7.7p target price (down from 11p). The broker note is detailed.

Randgold: the world’s best gold company (and reiterating my tip of the year)

Published 1294 days ago

“Toast”.  I nearly spat out my breakfast when I heard the CEO of Randgold Resources (RRS) use that word to describe the majority of his competitors in the gold mining space at prevailing commodity prices. 

Eldorado Gold; excessively punished by Grexit fears is an appealing buy

Published 1305 days ago

Since publishing “7 Gold Stocks to Buy Now” the price of gold has fallen further, under pressure from a heavy bear raid. With gold now trading at critical long-term technical support, the precious metal is now at a crucial point. If the price breaks below technical support, it could fall much further. However, if it finds its footing at current levels then a strong rally is on the cards. Such binary eventualities can be extremely profitable for investors on the right side of the move. Gold Bugs have taken yet another beating in the recent move lower, but if you remain bullish about the prospects for gold, now might be the time to consider some specific stock ideas. Below I share my contribution to our e-book - Eldorado Gold’s (TSX:ELD & NYSE:EGO).

Ariana, another positive update from Turkey

Published 1308 days ago

Ariana Resources (AAU) has updated investors that further exploration work at the Red Rabbit project in western Turkey is continuing to identify new zones of resource potential.

Hummingbird burnishes African gold prospects

Published 1338 days ago

Dan Betts, chief executive officer of West African gold play Hummingbird Resources (HUM) shrugs off both the lacklustre recent performance of the precious yellow metal and his company’s own distinctly less than stellar showing on AIM. He focuses instead on an enhanced production outlook for its 1.8 million-oz. Yanfolila project in Mali, as well as longer-term possibilities for its 4.2 million oz. lower-grade project at Dugbe in Liberia.  

Hummingbird poised to build gold mine - a trigger for share price action?

Published 1403 days ago

West African gold seeker Hummingbird Resources (HUM) says first steps towards construction of a mine at its 1.8 million-oz. Yanfolila project in Mali are ‘imminent’ in the wake of an upbeat project optimisation survey, while chief executive officer Dan Betts argues in the longer term another project, Dugbe in Liberia, promises to be the ‘company maker’. The Yanfolila survey gives the Mali project, which was acquired last year from the Gold Fields group, a net present value of $72.4 million (£49 million) and suggests a 35.1% internal rate of return over 6.5 years at an average gold price of $1,250 an ounce, somewhat above its present price of £1,192.02c.

Centamin Egypt offers value for Gold Bulls

Published 1434 days ago

Gold producers are well worth a look for anyone who is bullish on the metal itself, and offer some degree of leveraged play. One which would definitely be on my list to have a look at is Centamin Egypt (CEY) which is currently trading around 54p, and with a market cap of £620 million. 

Kirkland Lake to swell reserves

Published 1436 days ago

Canadian miner Kirkland Lake Gold (KGI) expects to follow record February gold production of 16,485 oz. from the historic Kirkland Lake camp in Ontario at a high grade of 17.8 grammes of gold per tonne of ore with an updated formal resource statement for the whole company in early April. Kirkland, which has achieved a significant turnaround under chief executive officer George Ogilvie, reckons this will show drilling has, in his words, ‘replaced what we have mined’, with a climb in head grade and a possible lift in proven and probable reserves from the present 1.4 million oz. at 17.1 grammes a tonne, with a measured and indicated resource of 2.1 million oz. at 16.8 grammes a a tonne as well as a 1.1 million-oz. inferred resource at 18.5 grammes a tonne.

Condor poised for permitting

Published 1449 days ago

Mark Child, chief executive officer of Central America-focused Condor Gold (CNR), is preparing the ground to seek key environmental, infrastructure and water permits to enable the company’s La India epithermal project in mining-friendly Nicaragua to start producing in two and a half years from a total potential resource of 2.3 million oz. with a robust average grade of four grammes of gold per tonne of ore. He suggests this process could take two months while AIM-quoted Condor moves to buy surface rights at La India across 700,000 hectares for $700,000 and strives to make the project attractive to potential joint venture partners or bidders ahead of production.

Randgold Resources – confirming that it is the gold standard

Published 1473 days ago

A very pleasing set of numbers from Randgold Resources (RRS) earlier this week confirmed that it is clearly the best larger cap gold company in the world. The Q4/FY update reinforced its consistent achievement of the gold sector’s holy trinity of rising production/grade, all in cost control way under spot gold prices and a solid balance sheet (in its case now with net cash on it). 

Resource boost at Amara Mining

Published 1506 days ago

West Africa-focused gold play Amara Mining (AMA) has hoisted the formal indicated mineral resource at its Yaoure project in Cote d’Ivoire 63% to 4.4 million oz. at a low grade of 1.29 grammes of gold per tonne of ore. Citing another 2.4 million oz. there with gold at 1.19 grammes a tonne in the more tentative inferred resource category, the AIM-quoted company, which began life as Cluff Gold, says this confirms Yaoure as the largest gold development project in the region and indicates it expects a pre-feasibility study to be completed in March.

Alecto ‘on track’in Burkina Faso

Published 1507 days ago

Africa-focused Alecto Minerals (ALO) says it is ‘on track’ to establish a maiden resource estimate this year for the Kerboule gold prospect in West Africa’s Djibo gold belt in northern Burkina Faso, while the AIM-quoted company actively canvasses prospective partners for its Kossanto project in Mali, potentially hosting more than 500,000 oz. of gold. Alecto, which also has joint ventures with fully-listed Centamin (CEY) at two gold prospects in Ethiopia, acquired Kerboule in November in a £350,000 all-share deal and now says analysis of previous drilling data over the 3,995-sq.-km. project has identified three discrete deposits with ‘numerous vein sets’.

Robert Tyerman’s share tips for 2015 No 2 – Buy Randgold Resources

Published 1515 days ago

Gold has been the despair of its fans ever since hitting $1,900 an ounce three years ago. Instead of soaring above $2,000 and on into the stratosphere, amid international political and economic turbulence, the perverse yellow metal has slithered back to below $1,180 an ounce, as the US economy and dollar have proved unexpectedly strong and oil has lately taken a spectacular tumble.

Chris Bailey of Financial Orbit's share tips for 2015 No 1 - Reloading on Randgold Resources

Published 1516 days ago

A year ago I tipped Randgold Resources (RRS) as my ‘FTSE-100 tip of the year’ and despite the volatility in the underlying gold price and desperate performance of the average gold miner the tip has done well and has nicely outperformed the UK’s leading share index. 

Serabi poised for full production

Published 1550 days ago

Mike Hodgson, chief executive officer of Serabi Gold (SRB), says he expects the AIM-quoted company to hoist gold production in northern Brazil’s Tapajos region from a disappointing maiden annual rate of 20,000 oz. to more than 35,000 oz. in the coming year, as its high-grade Sao Chico project starts to swell the quantity of gold now being extracted from its existing operation at Palito. Quoted on AIM and in Toronto and backed by Chile’s billionaire Solari business dynasty, Serabi has obtained a temporary trial mining licence for Sao Chico and must conduct what Hodgson describes as the equivalent of a pre-feasibility study to secure a permanent licence, which he anticipates ‘will be done and dusted by mid-2015.’

New Scots miner looks at AIM

Published 1552 days ago

While Scotgold Resources (SGZ) presses on with its projects for extracting gold and silver at Cononish and other deposits in the Argyle region, AIM investors might soon have the opportunity to speculate on another Scottish gold digger. Dr. Paul Dougan, a lawyer and scientist in the resources field, is currently seeking to raise £2 million at 25p in a pre-float funding for Scotia Exploration, whose stated ambition is to be ‘in full production of gold from the southern uplands of Scotland in the third quarter of 2016’.

Alecto adds new project

Published 1555 days ago

Africa-focused explorer Alecto Minerals (ALO) has bought another gold project in Burkina Faso, to add to its interests in Mali, Mauritania and Ethiopia. The London-based company, which recently appointed as chairman City veteran Mark Wellesley-Wood, who once sought to revive Cornish tin mining, is acquiring the Kerboule gold project in the West African country’s Djibo gold belt, near fellow AIM counter Avocet Mining’s Inata gold mine, in a deal which chief executive officer Mark Jones suggests ‘is capable of delivering significant returns.’

Goldplat – shares down again as operations update disappoints

Published 1575 days ago

Shares in gold recovery from by-products of the mining process-focused AIM Listed Goldplat plc (GDP) currently trade 6.5% lower, at 3.625p, on the back of an update including that “deliveries of concentrates were not made to Goldplat's third party refinery as a result of temporary industrial strike action and subsequent delays at the refinery”. The following updates on this latest disappointment from the company.

Gold Stocks: Time to Buy or Will They Get Worse?

Published 1604 days ago

Gold has fallen from over $1,300 in mid-August to around $1,210 per ounce as of October 2, dragging many gold-related stocks down with them. Is this an opportunity to buy or will things get worse? Steve Todoruk of the famed resource investor Sprott argues that it is the former.

Buy gold at an end of day close above $1,214.35/oz.

Published 1612 days ago

Nearly two weeks ago I suggested a buying opportunity could be brewing in the gold market. I now believe we’ve reached that point. Using my preferred technical indicator, the MIDAS Method, the price of gold has breached a critical level of support. On Tuesday the price rallied strongly off this, only to retreat again. Today, the market looks like it is once more finding its footing and a rally from here could gain some serious momentum.

Goldplat spells out recovery strategy

Published 1614 days ago

Ian Visagie, chief executive officer of gold recovery specialist Goldplat (GDP), says the company is moving fast to enhance profitability and expand and diversify its business after turning a £207,000 pre-tax profit into a £248,000 loss in the year to June on turnover down 27 per cent to £21 million. Focused chiefly on South Africa and Ghana, Goldplat, which extracts gold from mining waste, such as wood chips, mill liners, fine carbon, sludge and waste grease, suffered from a falling gold price in 2013-14, with operating profit before finance costs plunging from £2.6 million to £153,000 and its shares at 3.5p are down from a year’s high of 8.5p and a 2006 float price of 7.5p.

Gold tanks, look out for a buying opportunity

Published 1624 days ago

On Tuesday I described how gold speculators were charging for the exit. Since then the market for the precious metal has deteriorated further. Precipitous price drops have combined with increasingly bearish technical indicators. The chart below looks like it is on the verge of total breakdown and 2014’s rally hangs in the balance. However, for the bold trader, this could all be creating amenable conditions for an excellent contrarian long trade.

Avocet Mining plays a blinder

Published 1636 days ago

Loss-making, debt-ridden, with production falling and assets in areas close to the Ebola epidemic, bombed-out West Africa-focused gold play Avocet Mining (AVM) has taken an urgent step to retrieve matters, by commissioning a  $7 million (£4.25 million) carbon blinding circuit. Chief Executive Officer David Cather argues this should increase monthly gold production from the AIM-quoted company’s flagship five million-oz.-resource Inata gold mine in Burkina Faso from between 7,000 oz. and 8,000 oz. to 10,000 oz. and increase recoveries from toxic ores from 40 per cent to near 75 per cent.

Gambling on higher gold prices with Goldplat

Published 1636 days ago

Goldplat (GDP) has been in decline since mid-2012, but now seems to have settled at its lowest point in more than five years and could be worth a look. The AIM-listed company is actually profitable and debt-free through its gold recovery businesses in South Africa and Ghana (although not overall). However the share price now sits at around 4p, leaving Goldplat with a market cap of under £7 million, a far cry from the highs of over 16p in 2012.

Why gold will move sharply higher and which mining stocks will gain the most - the Adrian Day interview

Published 1653 days ago

Adrian Day, from Adrian Day Asset Management, is a major bull of gold and puts the case well Hence my colleagues at Palisade Capital interviewed him on his controversial but coherent thoughts the other day. His views on mining stocks are equally forthright and entertaining.

Via August volatility welcome back…stock picking

Published 1660 days ago

‘August brings into sharp focus and a furious boil everything I've been listening to in the late spring and summer ‘ - Henry Rollins. One of the advantages about having a few summers under your belt in this investment game is that you have lived through a few different cycles both good and…less good.  My favourite ‘August investment memory’ was three years ago back when I was a professional wage slave and the combination of quiet offices, gyrating financial markets and a rampant gold price was really quite pleasant for the relative performance of the investment portfolios I was managing.

Kirkland Lake heads back into the black

Published 1671 days ago

After two years of losses, Canadian miner Kirkland Lake Gold (KGI) is poised to start making money again from its high-grade Macassa and South Mine complex, holding potentially three million ounces or more of the yellow metal in Western Ontario’s south Abitibi greenstone belt. The company, quoted on AIM and in Toronto, lost a quadrupled £8.5 million on a reduced £94 million turnover in the year to April, but expects the first quarter of the current year to show dramatic improvements in costs, grades and production. The company’s turnaround strategy, initiated in January by incoming chief executive officer George Ogilvie, looks like it is beginning to bear fruit.

Rick Rule: This Gold Sell-off is a Normal Event in this Market – Its Right to be Long

Published 1680 days ago

On July 13, gold was still around $1,340 per ounce. Since last Monday, gold has suffered a big drop, falling as low as $1,293 in a few days. Many blame the decline on hawkish comments from the Fed’s Janet Yellen, who recently suggested the Fed could raise interest rates. “Higher interest rates would encourage investors to switch to assets that, unlike gold, pay interest,” said news service Reuters. But Rick Rule, of the world’s biggest gold investor Sprott thinks it is right to be long.

Big risks & Big Rewards in Petropavlovsk

Published 1682 days ago

If you are bullish on gold prices in the near future and like risk then Petropavlovsk (POG) is well worth a look. This is by no means a safe bet, and if you’re not prepared for the remote possibility of losing the lot then this certainly isn’t for you – but then the same can be said of many companies!

Ross Norman : London gold fix still does the job

Published 1685 days ago

The Chinese expression "Real gold is not afraid of the melting pot" suggests that if you have genuine quality, then you will not fear adversity. Well, in that sense, the London gold fix, an institution with a history going back nearly 120 years, is facing its own test as regulators question whether or not the process is "fit for purpose".  The gold fix is in essence a benchmark price that is derived twice a day from actual trades all concentrated into a short space of time to determine an objective price for gold.

Gold Fields assets deal boosts Hummingbird

Published 1688 days ago

West African gold play Hummingbird Resources (HUM) is celebrating the conclusion of a transformational $20 million (£11.75 million) all-share acquisition which, says founder and chief executive Dan Betts, will set the AIM-quoted company on the road to becoming a 200,000 oz.-a-year gold producer. With estimated gold resources of six million oz. Hummingbird, which lost £2.2 million in the year to May 2013, ‘will be profitable in 18 months,’ declares Betts, as he extols the merits of securing South African mining colossus Gold Fields’ assets in Mali for shares giving Gold Fields a 26.3 per cent stake in the company.

Ross Norman: GOLD FIX - Lazy Journalists Just Don't Get It ...

Published 1689 days ago

Surely never before have so many lines been written by journalists on a subject that they palpably know so little about and have made little attempt to understand... as the London gold fix.

Solgold; director options with genuinely positive performance targets

Published 1689 days ago

I get periodic requests to take a look at Solgold (SOLG). It’s not normally a stock I would consider buying. Too many people follow it. Even so, I have taken a bit of a look through the numbers and reports. From a fundamental perspective, I can’t see much to tempt me. With a £50.4million market cap this looks on the high side, for a company at this stage of development. I don’t say this to wind up Solgold’s shareholders, but we know that taking a company from exploration to mining is extremely expensive. While funding conditions remain tight and metal prices recover slowly there just isn’t much to get too excited about. However, I noted this morning’s announcement of options awarded to Solgold’s directors and now wonder whether or not this stock might be one to trade in the coming months.

Wishbone Gold scans the scene

Published 1690 days ago

Richard Poulden, the barrister and entrepreneur who built potash play Sirius Minerals by acquisitions around the world into a company with a stock market value of more than £200 million, confesses to one particular enthusiasm: gold. He argues the stage is set for a major increase in the price of bullion, largely attributable to the machinations of the People’s Republic of China, and, as executive chairman and key shareholder of AIM-quoted Wishbone Gold (WSBN), he is seeking to grasp opportunities among newly producing or soon to be producing gold projects.

Resource Market Is in "Good Shape" -- Rick Rule

Published 1690 days ago

Rick Rule, Chairman of Sprott US Holdings Ltd. said in early March that the market looked overheated and was due for a pullback. Gold and silver had just delivered double-digit gains in a few months. Sure enough, from mid-March until early June, the precious metals gave up much of their gains. Since early June, resource stocks have surged higher once again. So the question was: Where is gold headed for the remainder of the year? Will this rally pull back?

Production in sight for Aureus Mining

Published 1690 days ago

Swimming against the tide could pay off for West Africa-focused Aureus Mining (AUE), as it prepares to take its one million oz.-plus New Liberty gold project in Liberia’s Bea Mountain area into production early next year. It will also test likely prospects elsewhere in the country, such as nearby Ndablama, which chief executive officer David Reading hints could be in the same league. The AIM-quoted company claims New Liberty will be virtually the only new mine to open in West Africa at that time and should be able to produce 100,000 oz. of gold in its first year, rising to an annual 120,000oz. for at least six years, with foreshadowed all-in cash costs of $850/oz, against a current price of $1,315.80/oz.

Gold – rally running out of steam?

Published 1697 days ago

Just over a month ago I wrote about gold’s break to the downside. Since then, the precious metal found its footing at about $1,250/oz and then rallied quite strongly, in response to the Federal Reserve signalling that monetary policy could remain loose for longer than many expected. Gold now trades at $1,325/oz, last seen and I’ve just taken a look at the latest Commitment of Traders (CoT) report for gold to try and gain some insight into the strength of the move higher. I’m afraid things don’t look too positive and much will depend on whether more speculators can be tempted back into the market.

Transformation drives on at Amara Mining

Published 1702 days ago

Not many mining shares at present have doubled from their 12-month lows, but one that has is West African gold play Amara Mining (AMA). Last year it boosted its estimated gold resource at Yaoure in Cote d’Ivoire from 200,000 oz. to more than six million oz. and expects soon to shift more of the 5.5 million oz. which is now in the mining industry’s tentative ‘inferred’ category into the firmer ‘measured and indicated’ classification. AIM-quoted Amara, which raised £22 million in May at 17p, is engaged in a £10 million 80,000-metre drill campaign, one of the largest ever in Africa. This is to fill in gaps left by previous efforts, upgrade the resource at Yaoure, which currently averages a modest 1.4grams of gold per tonne of ore, and, suggests executive chairman John McGloin, possibly add another 500,000 to one million oz. to the project’s resource.

If Gold Rises a Little, Gold Stocks Could Go Up a Lot – Steve Todoruk

Published 1702 days ago

Steve Todoruk, an Investment Executive at Sprott Global Resource Investments Ltd. since 2003, said recently positive signs were beginning to take shape for the bigger mining firms. Many of these big companies are now healthy enough to start acquiring assets, scooping up the low-hanging fruit in the sector – attractive assets or companies that are still cheap.

Charles Oliver: ‘Tapering’ Is Good for Gold

Published 1704 days ago

Charles Oliver manages the Sprott Gold & Precious Minerals Fund, which invests principally in gold and silver mining and exploration companies. The last time Sprott spoke with Mr. Oliver, he said the fundamentals for gold still looked attractive, based on gold’s historical performance relative to the Dow Jones. Sprott spoke with him recently in Toronto. Click to read the interview.

Have Gold Miners Turned the Corner? – Steve Todoruk of Sprott Global Resource Investments

Published 1708 days ago

Steve Todoruk joined Rick Rule in 2003 at Sprott Global Resource Investments Ltd., after running several small exploration companies himself. Steve believes the latest signs for the resource sector are pointing upwards, as the latest acquisition activity in the sector shows that big miners are feeling healthier and more confident. He warns that metals prices could remain low, but it looks like big mining firms are beginning to exit the slump intact:

Connecting the Dots in the Gold Market By Eric Sprott

Published 1726 days ago

In this month’s Markets at a Glance, we present a collection of thoughts on why we think precious metals are a compelling investment now.

Seasonal Pattern and Stocks Rebound Impact Gold

Published 1732 days ago

The U.S. Comex gold futures have declined 2.03% on Tuesday after the U.S. Memorial Day weekend while the S&P 500 Index has risen 0.60% and the Euro Stoxx 50 Index has climbed 1.32% for the week.

Corrected Version: Gold fundamentals strengthen, price remains robust, buy below $1,291/oz

Published 1740 days ago

This morning I published the following article and incorrectly referred to the latest data in the Commitment of Traders (CoT) report as being up to May 6th. In fact the latest data goes to May 13th. I've edited the piece below, but broadly my argument still stands. I've made appropriate corrections and thank a devoted, almost obsessive, reader in the North for alerting us;

Gold; great value below $1,291/oz, poised to move higher?

Published 1741 days ago

It’s been a few weeks since I last covered gold. There hasn’t really been much to say. The precious metal has traded in a tight $30 range, since the end of March. Such periods of inaction have been relatively rare over the last decade, but I wonder now if there are increasing signs that pressure is building for a break to the upside.

Serabi Gold moves into production

Published 1744 days ago

A Chilean retailing dynasty is helping AIM-quoted Serabi Gold (SRB) take two gold projects in northern Brazil into production. The target is to mine 24,000oz of gold this year and between 40,000oz and 45,000oz next. The anticipated costs are projected to fall from around the current expected $1,100/oz to nearer $850/oz. With gold trading at about $1,303/oz and looking fairly stable, this could provide investors with an intriguing opportunity to buy into this sector.

Eric Sprott: Gold Shortage Coming, Data Shows

Published 1744 days ago

Eric Sprott, Founder and Chairman of Sprott Asset Management, said recently that he expects a “significant re-rating of the gold price” due to high physical demand from China and India, coupled with a gold supply shortfall. The effect, which he calls the “Chinese Gold Vortex,” is rapidly taking physical gold from West to East. When the West runs out of gold, the price should go much higher, he believes. I recently spoke with him on the phone about his near-term views.

Buy Highland Gold Mining: A Genuine Bargain Hunting Contender To Target 110p

Published 2131 days ago

Clearly, as things stand, anyone who has been attempting to buy the likes of Petropavlovsk (POG), Kazakhmys (KAZ) and African Barrick Gold (ABG) as potential bottom fishing candidates will not have had an easy ride so far in 2013. Indeed, it could be argued that unless your timing has been perfect, such antics could be included as one of the most foolish things to do year to date.

Centamin – And now there are two reasons to sell at 39p: target price 25p

Published 2138 days ago

Reasons to be bearish part 2. The first reason to sell Centamin (CEY) was political – it operates in Egypt where there is zero long term visibility for businesses since the regime change. But there is now a fundamental reason to offload the stock pronto – the maths simply do not stack up.


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