Gold Juniors

I havnt looked hard but don't like the high costs of extraction.

No I wouldn't even if they do deliver etc. If I don't like the management I don't go near a stock. I've met them on several occasions & each time was very unimpressed. In saying that they have done some good things & Bob (major shareholder/Chairman) is certainly no mug. I am probably tained by the finance guy who has no idea about mining or for that matter how to transact with banks. He is a bean counter through & through & if he was just doing the financial reporting I wouldn't be too concerned but he handles all matters financial, perhaps not making the final decision but making the recommendations on very little understanding of financial products or mining.

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Originally Posted by Daytr

No I wouldn't even if they do deliver etc. If I don't like the management I don't go near a stock. I've met them on several occasions & each time was very unimpressed. In saying that they have done some good things & Bob (major shareholder/Chairman) is certainly no mug. I am probably tained by the finance guy who has no idea about mining or for that matter how to transact with banks. He is a bean counter through & through & if he was just doing the financial reporting I wouldn't be too concerned but he handles all matters financial, perhaps not making the final decision but making the recommendations on very little understanding of financial products or mining.

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yeah fair enough ...might be just a swing trade ...didn't buy all that much

Sold another parcel of my PGI holding prob buy them back lower tomorrow going from the gold movement downwards

Pulled my RMS bid earlier this morning (not a quality stock) but I've left in a cheeky bid on GRY at 15c.

Happy to have picked up a bundle of KCN at 170 (after selling out last week) and will hold these with a stop loss at 160. Back in at its strong support level of 150 if the sp drops that far by Wednesday's FOMC, but somehow I doubt it will.

Other people's problems can be our opportunities if we get the timing right, yes?

BC

Yes RMS good smash on open was going jump in the front of sellers but put order last minute would have sold 17c instead going throw in the offer at 17.5c take the loss on the nose ...glad my bigger sell orders of PGI were filled 8.4c buying back 8c should get my fill today>>>
I see Gold has turned this morning up $9 since I first checked >>>

Just bought into EVN, its been smashed 10% today so saw it as an opportunity. They have a hedge in place for 150k toz at A$1600ish so have some protection if the POG falls further also have always respected Jake Klein, very smart guy & corporately savy.

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Originally Posted by Daytr

Just bought into EVN, its been smashed 10% today so saw it as an opportunity. They have a hedge in place for 150k toz at A$1600ish so have some protection if the POG falls further also have always respected Jake Klein, very smart guy & corporately savy.

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Having a brief look at this, I can see why you like it.

From their latest update:
"Production is set to increase in FY14 following completion of commissioning at the new Mt Carlton gold-silver copper mine. FY14 forecast production is 400,000 – 450,000 ounces gold equivalent with cash operating costs expected to be in the range of A$770 – A$820 per ounce. At an AUD:USD exchange rate of 0.9250 this equates to globally competitive cash costs of US$710/oz to US$760/oz. The additional costs of royalties, deferred open pit stripping, rehabilitation, sustaining capital and corporate overheads add approximately A$310/oz providing for Group All-in Sustaining Costs of A$1,080/oz to A$1,130/oz (US$1,000/oz to US$1,045/oz)."

These operating costs per oz are very competitive (compared for example with RMS at over $1600/oz!)

Also:
Underlying EBITDA increased by 11% to A$211.7 million
Underlying net profit of A$44.4 million and reported net loss of A$307.4 million after non-cash asset and investment impairments of A$384.3 million (A$351.9 million after tax)
Capital expenditure of A$374.7 million including A$168.4 million invested at Mt Carlton, the Company’s newest mine
Low gearing of 13% and good liquidity maintained with cash and available credit of A$86.9 million at 30 June 2013.

After investigating a bit further, I might just get a bundle too. Thanks for the tip, Daytr.

CW

No probs, that's what this thread is about! :)

My bid just got hit at 80.5 and then some bigger buyers arrived. I like it when a plan comes together. Now all we need is for Gold to hold above USD1320 for the next few days (and of course that's nowhere near certain).

Cheers,

BC

We both could have been a little more patient, however still think anywhere around 80c will prove to be a good buy in pretty quick time. Just my opinion.
Goodluck Bobcat!