Gold

[JBmurc]

If your'd brought mill of OGC back in 20-30c not all that long ago your'd have a NICE profit -no air-line would get close to a 1500%+ return
As for NAV keep it on your watchlist when it's 50c+ I'll be drinking your champagne Skol LOL

[Skol]

If your'd brought mill of OGC back in 20-30c not all that long ago your'd have a NICE profit -no air-line would get close to a 1500%+ return
As for NAV keep it on your watchlist when it's 50c+ I'll be drinking your champagne Skol LOL

I think Phaedrus got it right on NAV.
Go back 3 years when it was $1 and draw a line.
Cut your losses JB.
Gold's gone up all that time and NAV's declined.

Like the new Egyptian tank they've just built, one forward gear and six reverse.

[JBmurc]

I think Phaedrus got it right on NAV.
Go back 3 years when it was $1 and draw a line.
Cut your losses JB.
Gold's gone up all that time and NAV's declined.

Like the new Egyptian tank they've just built, one forward gear and six reverse.

Well I paid 12.5c so am more to hold ,time will tell if NAV will be a successful they have only just started production so the past is the past when NAV didn't even own the Brozwing mine

[elZorro]

I have just had a look at NAV too, not a bad looking share JB, the market must be waiting for a look at the bank balance, when it's obvious they're going to do well quickly. Had a look at the broker's recommendation in 2009 on their website, have you had a look at PRU? Not producing bigtime yet, but their chart over the last 2 years looks just like OGC, and there's been a lot of interest lately.

[JBmurc]

I have just had a look at NAV too, not a bad looking share JB, the market must be waiting for a look at the bank balance, when it's obvious they're going to do well quickly. Had a look at the broker's recommendation in 2009 on their website, have you had a look at PRU? Not producing bigtime yet, but their chart over the last 2 years looks just like OGC, and there's been a lot of interest lately.

yeah NAV is looking like it will be producing right when AUD gold price is making new highs ,I also hold ARD CVX Gold silver explorers will have a look at PRU

[Huang Chung]

JB, being keen on silver, have you had a look at Silver Mines Limited (SVL)?

Interesting drilling update from a few days ago:

http://www.asx.com.au/asx/statistics...idsId=01065354

PS...don't know anything about them, just thought this result might be of interest to you.

[JBmurc]

JB, being keen on silver, have you had a look at Silver Mines Limited (SVL)?

Interesting drilling update from a few days ago:

http://www.asx.com.au/asx/statistics...idsId=01065354

PS...don't know anything about them, just thought this result might be of interest to you.

Yeah I'm keeping an eye on SVL current paper losses no too keen on selling any of my shares if PEN spikes high on good Fes study I might reduce an have some funds to invest
SVL much like ARD has massive potential mid term easy silver will be all but gone by the end of this decade after thosands of years of mining

[tricha]

It will not take much for it to happen in the current economic climate.

Gold bulls dig in for big rally

• <LI class="byline first ">Nicholas Larkin <LI class="source ">From: The Australian
• May 25, 2010 12:00AM

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SPECULATORS are buying gold faster than the world's biggest producers can mine it, as analysts forecast a 27 per cent rally that may extend the longest run of annual gains since at least 1920.

Exchange-traded products (ETPs) backed by bullion added 42.5 tonnes in the week to May 14, the most in 14 months, data from UBS shows.
China, Australia and the 16 other largest mining nations averaged weekly output of 42.3 tonnes last year, researcher GFMS estimates. Even though prices have fallen 5.8 percent to $US1177.10 from a record $US1249.40 an ounce May 14, the median prediction in a Bloomberg survey of 23 traders, analysts and investors is that it will reach $US1500 by the end of the year.
Buying accelerated as the MSCI World Index of 23 developed nations' stocks tumbled as much as 16 per cent since mid-April and the euro weakened to a four-year low against the US dollar. Holders of ETPs, including George Soros and John Paulson, accumulated a record 1921 tonnes by May 14, eclipsing all but four of the biggest central-bank holdings.
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Related Coverage

• Gold rises to record high The Australian, 11 May 2010
• Gold may hit $US1300 Perth Now, 15 Apr 2010
• China buys more iron ore The Australian, 11 Apr 2010
• Gold rallies nearly 2pc as $US slips The Australian, 2 Mar 2010
• Gold remains investment of choice The Australian, 14 Jan 2010

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"You could see gold go up another $US1000," said Evan Smith, who helps manage $US2 billion ($2.4bn) at US Global Investors in San Antonio. "All of the turmoil and problems we've seen in Europe is just another reminder that there's a lot of value in gold as a safe haven," he said.
The risk to gold bulls lies in economic growth, which should buoy the prospects of metals linked to industrial demand, such as copper and silver. The world economy would expand 4.2 per cent this year, the International Monetary Fund said April 21, raising its January projection from 3.9 per cent.
Astor Asset Management, with $US520 million under management, held as much as 10 per cent of its assets in the SPDR Gold Trust, the biggest ETP backed by bullion, according to Bryan Novak, managing director of the Chicago-based company. The firm sold the stake in the first quarter.
China, the biggest consumer of industrial metals, will expand 10.1 per cent this year, more than three times the pace of the US's anticipated 3.2 per cent gain, according to as many as 77 economists surveyed by Bloomberg.
"The feeling now is as we move into the expansion phase of economic growth, we want to be diversified in economically sensitive metals," Novak said. "We're not negative on the economy now."
While gold is favoured by investors when the US dollar weakens and inflation gains, the metal can also advance at other times. Gold rose 5.8 per cent in 2008 as US consumer prices gained 0.1 per cent. The metal added 18 per cent in 2005 when the US Dollar Index, a measure against six counterparts, advanced 13 per cent. Gold rose 7.3 per cent this year as the US Dollar Index jumped 9.6 per cent. US consumer prices dropped in April. "People are afraid of the debasement of all the currencies," said Peter Schiff, president and chief global strategist for Darien, Connecticut-based Euro Pacific Capital. "What's surprising is that gold is still as low as it is," he said, predicting $US5000 to $US10,000 an ounce in the next five to 10 years.
Buying rose as European policymakers agreed on $US1 trillion emergency loan package to prevent sovereign defaults.
Gold is still at half the peak set in 1980, after adjusting for inflation. Then, prices rose to $US850, equal to $US2266 today.
Supply from mines, which peaked in 2001, fell in five of the last eight years, data from London-based GFMS show. Companies are digging deeper to extract dwindling reserves, with mines in South Africa extending as far as 3.8km down.
Investment, including bars and coins, almost doubled to 1901 tonnes last year, exceeding jewellery demand for the first time in three decades, according to GFMS. Jewellery will jump 19 per cent to 2100 tonnes this year and industrial use 8 per cent to 398 tonnes, Sydney-based Macquarie Group says.
Central banks and governments are also buying gold, adding 425.4 tonnes last year, for a combined 30,116.9 tonnes.
BLOOMBERG

[elZorro]

Tsk Tsk Tricha, verging on "intellectually" and "bankrupt" with that post.

Just joking!! Good points in there, I wasn't aware that mine outputs have been dropping. Fundamentally the POG can't rise to ridiculous levels, but even US$1500/oz would be wildly profitable for most miners with a decent reserve grade ore. Lots of upside and not really a great deal of downside.

[elZorro]

An article written on May 18, as the POG spiked.

http://www.moneyweek.com/investments...ack-02004.aspx

Amongst other things, the writer Dominic Frisby comments:

Now, I am not calling a top here by any manner of means. I remain wildly bullish about gold in the long-term and think we are eventually going to go back to some kind of botched gold standard as the only solution to this ballooning monetary crisis that just won't go away.

The article looks at both sides of the POG argument. Looks like the next few days are going to be tricky to deal with.