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     rederob
Member
Username: rederob
Post Number: 340
Registered: 10-2002Rating: N/A
Votes: 0
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| | Sunday, September 26, 2004 - 04:03 pm: | 
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archer
It's all good....CRS is in great shape:
Simplified hedge book of only 120kozs locked in to AUD POG at flat forward of $587/oz (POG presently around $580).
EPS of 4.5cps and ff 1cent div in October (I note Commsec info is not accurate).
Cash cost of AU$375 going forward gives profit of around $200/oz for anticipated 220-250kozs mined over next year.
AU$7m for exploration and $7m for St Patrick's reef development will be met from cashflow.
Excellent leverage to any POG rise and a definite add whenever share price falls into low 40cent range.
No sovereign risk.
On gold generally, we are due for a breakout after a solid period of consolidation.
$400/oz is now locked in as the base price, with little downside risk unless USD rallies to new highs.
However, with Diwali approaching and strong physical buying from Asia and India in particular (despite high prices) any dips will be counteracted by good buying support.
I have a sneaking suspicion that funds are concentrating their efforts on oil for the while, but when supplies on that front stabilise we should see them launch aggressively into gold (and silver).
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archer
Member
Username: archer
Post Number: 286
Registered: 11-2002Rating: N/A
Votes: 0
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| | Monday, September 27, 2004 - 07:43 pm: |
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Thanks for the info rederob-much appreciated
Looks like they had some good news today as well
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archer
Member
Username: archer
Post Number: 287
Registered: 11-2002Rating: N/A
Votes: 0
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| | Tuesday, September 28, 2004 - 09:58 am: |
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The next leg up in this bull in gold
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http://www.amtddj.inlumen.com/bin/djstory?StoryId=Cqvy:WaebqLqWmde2mtG
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DJ UK PRESS: Pressure Grows On G7 To Agree Dlr Devaluation
09/26/2004
Dow Jones News Services
(Copyright © 2004 Dow Jones & Company, Inc.)
LONDON (Dow Jones)--U.S. President George Bush is being urged to signal a dollar devaluation of up to 20% to rebalance the global economy ahead of Friday's Group of Seven and International Monetary Fund meetings in Washington, the U.K.'s The Business newspaper reported.
Senior U.S. administration officials in Washington have over the past few days tried to influence the White House and U.S. Treasury to put pressure on the G7 to agree to a dollar depreciation in its final statement, the newspaper said.
Recent data have shown the U.S. current account and trade deficits running at record levels, and economists have said a dollar depreciation is needed to rein these in.
The euro was quoted at $1.2260 in late New York trade Friday, compared with $1.2273 on Thursday. The dollar was fetching Y110.64 versus Y110.63, and CHF1.2624 versus CHF1.2598. The pound was trading at $1.8041, up from $1.7982.
The G7 will also call on the world's oil producers to take further action to bring down prices, The Sunday Times reported. Crude oil reached almost $49 a barrel in New York Friday, amid continued concerns that high energy costs will sap global growth.
Spurring economic growth will be high on the agenda at the meetings of G7 finance ministers and central bankers next week, U.S. Treasury Secretary John Snow said Friday.
"The promotion of economic freedom, opportunity and growth throughout the world will be a key topic," he said in a statement in New York City.
G7 officials meeting in Washington next week will be representing Canada, Italy, France, Germany, Japan, the U.K. and the U.S. Officials from China will also be present.
-By Neil Keane; Dow Jones Newswires; +44-20-7842-9495; neil.keane@dowjones.com
(END) Dow Jones Newswires
09-26-04 0623ET
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rederob
Member
Username: rederob
Post Number: 341
Registered: 10-2002Rating: N/A
Votes: 0
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| | Tuesday, September 28, 2004 - 05:36 pm: |
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archer
Today's spot price has climbed consistently to be now hovering over $410.
Typically this indicates a kickstart to tonight's futures, so with any follow through a break over $415 will occur.
Given weakness in overseas bourses in recent days, and oil breaking over US$50/bbl for the first time, that most wonderful sentiment of fear could set in and send funds in search of value, safe havens, AND GOLD!!!.
One could draw a neat pennant formation in the above chart (my woeful IT skills lack this capacity), to see that a breakout is now due.
Given the 2year ma cruising steadily northward, and the past 4months hitting higher lows, an upside breakout seems inevitable.
Should this happen, we will see solid physical buying support heading into year's end to maintain the price momentum.
Silver is looking for some guidance before bolting into the stratosphere (says he hopefully!).
By the way, was almost prophetic to ask about CRS and then get the great announcement on its drilling program. CRS will continue to be a great "value buy" in its present price range.
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archer
Member
Username: archer
Post Number: 290
Registered: 11-2002Rating: N/A
Votes: 0
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| | Wednesday, September 29, 2004 - 09:28 am: |
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Looks like the Argentinians have learnt a lesson from their
paper money experiment
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UPDATE 1-Argentina cenbank ups gold reserves to 55.1 tonnes
LONDON, Sept 28 (Reuters) - Argentina's central bank bought more gold in July and August, taking its gold reserves up to 1.77 million troy ounces by the end of August, or 55.1 tonnes, according to data on the bank's website.
The bank confirmed in August that it had bought 42 tonnes of gold in the first half of 2004 to diversify its reserves after the end of the peso's one-to-one peg against the dollar in early 2002.
The bank's website showed that gold reserves were at 1.72 million ounces (53.5 tonnes) in July and 1.37 million ounces (42.6 tonnes) in June.
Spot gold was trading at $410.25/411.00 by 0941 GMT, compared with $408.70/409.50 late in New York on Monday.
http://www.reuters.com/newsArticle.jhtml?type=topNews&storyID=6351310
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rederob
Member
Username: rederob
Post Number: 343
Registered: 10-2002Rating: N/A
Votes: 0
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| | Wednesday, September 29, 2004 - 04:58 pm: |
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archer
Given the lift in POG and CRS's simplified hedge book, the below chart is indicative of this stock's upside - certainly a lot of room left on the technical side:
With recent announcements, particularly today's greenfields site discovery, we might not see CRS trading below 50cents again unless the bottom falls out of the gold market.
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rederob
Member
Username: rederob
Post Number: 344
Registered: 10-2002Rating: N/A
Votes: 0
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| | Thursday, September 30, 2004 - 07:53 am: |
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Gold consolidating nicely overnight, and spot prices holding this morning around $413/oz
In AUD terms there is little movement with POG @ $576.
Silver doing a bit better, propelled by copper prices approaching record highs overnight - spot at US$6.65 and AU$9.27.
As the greenback was unchanged overnight and the DOW rose, POG's steady climb is strongly encouraging of an upside breakout on any adverse news - loathe to say another terrorist attack.
POG and oil have been moving in tandem in this past week so will be interesting to see what happens while oil prices stabilise over US$45/bbl.
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rederob
Member
Username: rederob
Post Number: 347
Registered: 10-2002Rating: N/A
Votes: 0
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| | Friday, October 01, 2004 - 06:11 am: |
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Big night for all the metals, so if you have BHP, LHG or anything in between, your week will end nicely:
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goldbug
Member
Username: goldbug
Post Number: 61
Registered: 02-2004Rating: N/A
Votes: 0
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| | Friday, October 01, 2004 - 06:20 am: |
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and this is just the start......
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rederob
Member
Username: rederob
Post Number: 353
Registered: 10-2002Rating: N/A
Votes: 0
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| | Saturday, October 02, 2004 - 10:11 am: |
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True, goldbug.
Open interest increased markedly last night for both gold and silver - meaning more long positions are being established.
But the precious metals ended unchanged.
Any weakness from the greenback will be pounced on and spur gold above early year record highs.
When this happens the chartists may turn to tea leaves for greater certainty of forecast.
I would implore them only to use the most exquisite tea, golden flowery orange pekoe, poured into a gold decorated Royal Albert fine bone china teacup, for best results.
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rederob
Member
Username: rederob
Post Number: 355
Registered: 10-2002Rating: N/A
Votes: 0
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| | Saturday, October 02, 2004 - 10:23 pm: |
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My favourite equivolume chart this week:
To borrow from the now toothless tiger - "breakout alert"!!
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vermante
Member
Username: vermante
Post Number: 175
Registered: 11-2002Rating: N/A
Votes: 0
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| | Sunday, October 03, 2004 - 08:59 am: |
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Rederob,
Re-BSG - The company has recently sold its 50% interest in the Roseby downs copper project to URL . BSG share holders will receive 379 URL shares for every 1000 BSG shares. The option strike price which expires 31/12/04 has been reduced from .40 cts to 34.3 cents. The option is now in the money and a nice source of funding for development of its high grade gold/silver mines. The deal awaits shareholder approval at a meeting in 4-5 weeks.Demand for the shares and option should remain strong.
Cheers
Vermante
Note - I own BSG options
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vermante
Member
Username: vermante
Post Number: 178
Registered: 11-2002Rating: N/A
Votes: 0
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| | Monday, October 04, 2004 - 07:12 am: |
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Interesting reading for Gold Bugs
Extract "Gold is on the move" Kitco.com
According to the info we just read above China is serious enough about expanding the gold market by electing a gold mining professional & geologist to the second highest political office in the country. That info definitely has long term very positive consequences for a higher & stronger gold market.
And what other positive gold news is coming out of China?
"Without waiting for Beijing's approval, banks in Guangzhou and several other mainland cities have begun retailing gold bars to investors eager to seek alternatives to China's relatively low interest rate returns and battered stock markets."
"Mainland retail investors, who have long held gold in special esteem, have responded by flocking to banks in such numbers that one of them had to keep its doors open after office hours."
"According to the Guangzhou-based Yangcheng Evening News, the city's residents flocked to buy the precious metal after local branches of China Merchants Bank set up counters to sell gold bars to individuals a week ago."
"At one bank, the queue of would-be buyers was so long that the bank was forced to extend its opening hours." Olivia Chung, thestandard.com, 9-30-2004
Now keep in mind that the text you just read above is taken from a Chinese news site & did not originate in the "west." And are you beginning to get a big picture why we believe the long term fundamentals for gold are increasing exponentially?
And China alone with its growing gold market & growing demand is reason enough to begin investing in gold & silver stocks.
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archer
Member
Username: archer
Post Number: 296
Registered: 11-2002Rating: N/A
Votes: 0
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| | Monday, October 04, 2004 - 07:54 pm: |
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Heres my view rederob
You can see why there is resistance at current levels
Also see the inverted H+S which has been broken
The H+S has excellent symmetry and a 13 cent head which
added to the 51 cent break measures to 64 cents
64 cents breaks the large D/T line setting up a target
of 99-101c
Often after a break of a H+S price will come back to
the neckline currently about 51 cents
I believe gold is setting up to get slammed again as the
commercials have added a heap of short positions
I expect negative gold news this week
If this coincides with CRS coming back to test the neckline
i believe i'll add it to my portfolio
If this dip plays out as i expect i will use it to put on my
"FULL METALS JACKET" {;-)
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