Hi
@mraj @rahonui I wish you guys all the best though respectively disagree on a few points made. Though I agree it hasn't looked pretty of late, POG is currently oversold from a TA prospective and
may be in the process of bottoming near term (imo). Despite global macro events and physical demand POG seems to be strongly correlated with the USD/JPY..........albeit inversely!
POG and the USD/JPY (candles) overlaid below: Looking topy though keep an eye on the dotted 'line in the sand'
10.4% rally (at its peak) over the last 4 weeks is the biggest 4-week rally in at least 45 years! Sound Sustainable???? Personally looking for some USD weakness near term.
Gold Weekly (below) showing us at an area of support. Also of interest the 50 and 200 day MA's look to be close to crossing.....
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@rahonui big call you make of management who in my opinion have appeared to tick a lot of boxes. Can understand potential frustrations from 'opportunity loss' whilst holding GMD however have you checked the progress over at EGS and the refurbishment of the Davyhurst Gold Processing Plant? Yet to be completed and awaiting Debt Finance to do so. No way mining could have be completed 6 months ago and most likely the reason why we are not using their plant imo as we would still be waiting.
GMD have a Jorc resource (albeit small) with potential to increase, attractive tenement locations and an active drill program with initial viking assays due this week. Supportive mining contractors (taking payment in escrowed script) as well as cash coming from toll treatment with an anticipated (POG dependent) $4-6M to be banked in the near term. Also to keep in mind with cash comes opportunity.... a reminder from the last quarterly.
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And from the Oct investor preso......
View attachment 368579
Should the current/coming gold storm remain/gather pace, yes GMD SP will suffer, however if you believe the clouds will soon part, I agree with
@galaxy1, GMD looks damn attractive at these prices imo
Sorry to bang on a bit, the opinion shared above may very well prove to be wrong, no doubt next weeks Fed meeting outcome will be pivotal, just thought i'd even up the sentiment a little around here
A recent article on the current state of play worthy of a read:
https://www.tradingfloor.com/posts/gold-bulls-sensing-victory-in-1172-oz-battle-saxostrats-8295456
GLTAH
(20min delay)
