Gold Juniors

[Daytr]

I've been in & out of GOR since I last posted but am holding 50% of my position. Looks like CAS is attempting to get off the canvas so could be interesting to watch. Surprised gold isn't lower considering Obama's platform for war is losing support globally. Think we still may have another look below $1380, possibly tonight, but think $1350 should hold. I've again got some funds on the side line in anticipation of this. Be interested in anyone else's thoughts...

[Daytr]

Liquidated the remaining 25% of my portfolio this morning. Made around 105% gain over the last 3 months so can't argue with that & now happy to be on the sidelines. Think $1350 will break, but $1320 we may see better support so will assess that if we get there if its time to buy back in. Patience is key here I think.

[JBmurc]

Liquidated the remaining 25% of my portfolio this morning. Made around 105% gain over the last 3 months so can't argue with that & now happy to be on the sidelines. Think $1350 will break, but $1320 we may see better support so will assess that if we get there if its time to buy back in. Patience is key here I think.

Good work I know many think Syria is the only reason why gold moved passed 1400 but IMHO thats just one small piece of the gold bull pie with a more important is the U.S. debt ceiling being reached yet again & The current "continuing resolution" which is basically a band-aid patched over a budget hole will expire on Sept. 30.....the US will have to do something very soon or will no be able to pay it's bills in November >>>>>they may taper 10-15billion off the 80billion Q.E per month but still the DEBT gets bigger without a fix in sight

[Bobcat.]

JB,
Politiking aside, I believe it's unlikely the Obama Admin or Feds will stop printing money or even slow it down much (i.e. taper) - that's because it's more addictive to a politician facing mounting debt than cocaine. They may disguise it to save face, and play down the risk to inflation by manipulating its composite factors but these people want to be re-elected (to satisfy their lust for power) and popular (to satisfy their Narcisistic streak)...and will get there by hook or by crook.

Once the huge downside to continually printing money to meet Federal obligations (to Medicare, State Govts, etc) becomes clear, and offshore creditors lose confidence in the USD and American economy as the Govt defaults on its loans, then watch the slope get steeper, more slippery and treacherous for a) the good ol' US of A and b) connected economies (and just which aren't?).

After selling KCN last week, I've been buying back into those gold stocks this morning that have some decent cash reserves - FML, PNA and GRY.

Like yourself, I too believe that the world economy has a painful experience ahead of it next month, probably triggered by the USA Debt crisis but that's not the only factor. Traditionally, Sept/Oct is ruled by Bears due to triple witching, etc - check out the past 10 years of charts for the DJIA, NASDAQ and S&P500. Where these indexes fall, the price of Gold invariably rises.

I have recently acquired a few Uranium stocks (ERA and PDN, etc) and into one or two other Aussie miners including a couple of oiulers (WHN, JPR, etc) but otherwise selling out of bluechip and most of my other stock holdings as their prices lift like earlier today, so that I can be cash-rich for opportunities through October.

Cheers,

BC

[JBmurc]

Yeah I agree BC ...esp if Obama and mates can get another major War going in the M.E they'll need to increase and not decrease the Q.E
think this month and next will be major ones of the year >>>Gold could well do the dead opposite to what many think during this time
I did sell a few PGI today for a small profit ....and got my CFE swing trade though for the month worth another $900 profit >>>small cash pile ....happy to sit on PGI till end of year or mid teens SP

[JBmurc]

Just brought into my third Gold jnr today RMS not sure how long I'll hold will take 20-30% profit if it turns up in the Short term..
some imfo on RMS

Market current value round 60mill @18c
Cash/gold held = 33mill (aug)
resource/reserves =2.5moz /500koz
2013/14 planned production & cost = 107koz @ 1200oz AUD(total costs to produce the gold) =26.7mill AUD EBIT
RMS own two gold plants worth $$$m ? 1#1.7mtpa processing plant readily expandable to 2.4mtpa
2# plant conventional CIL circuit The mill has a capacity to treat up to 180,000 tonnes of material per annum.
good Exploration upside on new high grade Vivien project as well as 4 other major project areas

Overall RMS has been a market Dog falling from a once $1+ sp with high costs poor mgmt,,lower AUD gold personal like buying at current levels on turn-round story....plan to buy more on PGI sell-down

[Bobcat.]

Reuters have RMS with an NTA of 45c, which if correct is attractive.
Mt Magnet increased its revenues which is positive but RMS's net loss increased to $51m off revenue of $136m and with an actual production cost of $1,870 against a budget of $1,200 profits are some way off.
Even with good cash reserves an 'entitlements' issue of 1:4 at 18c is required to fund their Vivian project.
Trading today at 18c. I might just put in a cheeky bid to pick up a bundle at 17.5c but it will be for just a small bundle. GRY and FML are in my opinion a better buy.

Cheers,
BC

[JBmurc]

Reuters have RMS with an NTA of 45c, which if correct is attractive.
Mt Magnet increased its revenues which is positive but RMS's net loss increased to $51m off revenue of $136m and with an actual production cost of $1,870 against a budget of $1,200 profits are some way off.
Even with good cash reserves an 'entitlements' issue of 1:4 at 18c is required to fund their Vivian project.
Trading today at 18c. I might just put in a cheeky bid to pick up a bundle at 17.5c but it will be for just a small bundle. GRY and FML are in my opinion a better buy.

Cheers,
BC

Yes for sure RMS past has shown issues in costs ...you nay well get your cheeky bid >>looks like I jumped bit early today still only a small parcel at this stage ...enjoying my other PM share PGI rise today

[Daytr]

I have met with RMS on several occasions & wasn't at all impressed with their senior management. They did a lot better with Mt Magnet than I would have thought by not revisiting the underground which is an incredibly challenging mine to run as Harmony found out & had to bring the legend Peter Cook ex Hill 50 to the fold to get the operation sorted. Haven't met the ground staff & the MD/Chair is a smart cookie although doesn't see the big picture in my book and has a small town (Adelaide) syndrome. The finance guy I wouldn't give time of day.

[JBmurc]

I have met with RMS on several occasions & wasn't at all impressed with their senior management. They did a lot better with Mt Magnet than I would have thought by not revisiting the underground which is an incredibly challenging mine to run as Harmony found out & had to bring the legend Peter Cook ex Hill 50 to the fold to get the operation sorted. Haven't met the ground staff & the MD/Chair is a smart cookie although doesn't see the big picture in my book and has a small town (Adelaide) syndrome. The finance guy I wouldn't give time of day.

So you wouldn't touch RMS I take it DT ?

Any view on new Vivien project there buying