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  1. #8101
    Senior Member airedale's Avatar
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    Hi Peat, that looks like one of those butterfly gartley patterns which were popular with the traders on the Forex page a few years ago. There will be ups and downs on the way but I think we could see $1800 at the end of the year. Your pattern is up against QE.

  2. #8102
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    Quote Originally Posted by jonu View Post
    But if you want exposure on the NZX and a dual listing it's NTL all the way!
    Traders stock only, sell a million for .001 c and make a quick thousand then buy back a point lower, rinse and repeat.Check the 1 year chart. So obvious and transparent, pity the poor sucked in mug investors.

  3. #8103
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    Can anyone comment on the NZ Tax implications of holding PMGOLD on the ASX? Would it be caught by the FIF regime?

  4. #8104
    Senior Member airedale's Avatar
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    Quote Originally Posted by airedale View Post
    Hi Peat, that looks like one of those butterfly gartley patterns which were popular with the traders on the Forex page a few years ago. There will be ups and downs on the way but I think we could see $1800 at the end of the year. Your pattern is up against QE.
    Hi Peat, a drop in POG to US$ 1711 overnight. What is the time scale for your butterfly pattern. I see the price testing support at $1700.

  5. #8105
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    Any thoughts on MML......gold miner in the Philippines....off the top of my head, the market cap is $150 million at 70 cents and my projected net profit after tax is over $50 million....in my eyes, too cheap. I bought $1000 at 64. Anyone know why it's so cheap?

  6. #8106
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    Look at the country risk for the Philippines, I suspect a few investors would be discouraged from what has occurred with foreign miners there in the past. I believe Tampakan is still waiting for a mining permit?
    Sorry can't work out how to delete a post.
    Last edited by zero; 30-05-2020 at 01:50 PM.

  7. #8107
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    Look at the country risk for the Philippines, I suspect a few investors would be discouraged from what has occurred with foreign miners there in the past. I believe Tampakan is still waiting for a mining permit?

    https://www.mindanews.com/special-re...-gold-project/

  8. #8108
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    Quote Originally Posted by younga View Post
    Any thoughts on MML......gold miner in the Philippines....off the top of my head, the market cap is $150 million at 70 cents and my projected net profit after tax is over $50 million....in my eyes, too cheap. I bought $1000 at 64. Anyone know why it's so cheap?
    I had a quick look over the stock, put it on my watch list. It is cheap with the PE and cash. Should get over a dollar soon I would guess. But investors are wary of Philippine stocks and the management don't look inspiring. I am guessing the AISC at around $1200 is higher than it need be. The Filipino miners would be getting 10% of the wages of miners in Aus. I would guess a fair amount of expenditure would be to keeping various groups happy. There always has been quite a bit of corruption in the Philippines, wether Duterte is getting it under control or not I don't know. The Muslim seperatists must be in the area. Social expenditure in the surrounding community. I would guess investors are spoilt for choice of gold miners in the ASX. A lot of the best mines seem to be overseas, but come with sovereign risk. WAF is an example. I am trying to buy some MYL this morning. Good luck.

  9. #8109
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    Quote Originally Posted by zero View Post
    Look at the country risk for the Philippines, I suspect a few investors would be discouraged from what has occurred with foreign miners there in the past. I believe Tampakan is still waiting for a mining permit?
    Sorry can't work out how to delete a post.
    Yeah rather not have my funds at risk in any of these nationalistic nations if economics and unemployment gets worse likely in 2020's Depression then for sure foreign companies making millions will be attacked first ...best case higher royalty taxes ..worse case you lose the project you spent mega millions on..

    .... have been burnt in South Africa ...we are really lucky having Aus next door with many of the best miners in the world and great prospective country why take the risks ....
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    Im a minimalist at charting but the Gold price is looking pretty rocky atm


    Gold

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    Quote Originally Posted by Joshuatree View Post
    Im a minimalist at charting but the Gold price is looking pretty rocky atm


    Gold
    Close to short term daily support .. we see it break and 1640 might well be the next supportScreen Shot 2020-06-06 at 11.20.34 PM.jpg
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  12. #8112
    Senior Member airedale's Avatar
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    Yes it does look a bit shabby in the short term. There was a lot of resistance at 1700 and that was taken out by about 3% when it went up to about 1750 on the weekly chart. Then it retraced back through support at 1700 to 1684, which is about 1% below 1700. I think that POG will try and regain 1700, but it depends on US$ index and Trump etc etc. I am not panicking yet. Draw up a monthly chart, it has been rising since the beginning of 2016.
    Last edited by airedale; 07-06-2020 at 10:40 AM.

  13. #8113
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    Nothing a few days of volatility couldn't fix. 1yr trend looks very good for gold.

  14. #8114
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    POG shaping up for another monthly high and closing in on $US1800.

  15. #8115
    Senior Member airedale's Avatar
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    With POG closing overnight above US$ 1774 at the end of the quarter that is the highest ever quarterly close. There is still significant resistance at US$ 1800.

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