Chinese Shanghai yuan denominated Gold fix to open on April 19th. Gold arbitrage is taking place and should continue from West to East. London must be in despair
Maybe that is the reason that gold is outperforming silver.
There was a time 10+ years ago, that we could discuss, but then they opened a can of message board rats to kill any discussion. And then they started to obstruct posts and send malware. Fascist behaviour.
Actually, i think JPM (John B.) was not there. Maybe Jorge was there. Anyway any opinion by DB may be considered as a counter indicator per se. I'll be so happy when these con men finally get their punishment.
Imagine how poor and dirty you will feel yourself if you have to make your money by rigging markets.
Coeurs' share price reflects that of the PMs on steroids. The Gold market is broken and is surging back towards equilibrium.
Coeur has been the most manipulated stock of the major miners and thus will follow the gold and silver price recovery with a factor 3-4.
What is not even in the picture of the market is the internal turnaround, which Coeur has made by making substantial cost reductions and shifting to higher grades. So the factor increases, when quarterly results show to be above market expectations.
Alltogether this is an explosive cocktail.
The upgrades come when their buddies are fully covered and long. Bunch of criminals analists.
Production in Q4 has been exactly the same as what they sold in Q3. The 5000+ ounces of gold and 200.000 of silver they sold out of inventory in Q3 must have had a higher AISC than what they sold out of Q3 production.
The AISC per Eq silver ounce should have further gone down due to lower dieselprices, improved recovery
rates and improved grades. Maybe as low as $11.50. But there are a number of unknowns like capex and cost of ore material bought at San Bart. And the realized price of gold and silver.
That is the official short position. Who knows how many naked shares are circulating in the market. My bet is a multiple of that.
Let them start making a solid 100+ mln per quarter profit first. All it needs is a $25 silver price. Then, if they want to buy, let them buy with paper money, not with shares. Shares are gold in the ground money. No more dilution, please. No more gifts to debtholders and no more gifts to neighbours.
No poetry intended, Geo. Just my observation, the shorties are trying to get some shareholders sell by sending the stock up and down. Just watch the first 15 minutes. Down to 3.61 and then up to 3.86 and down again.
What do they expect? They send a $10 stock down to $1.66 with massive short selling and then they expect to cover those short positions below $4?
No way. Still a great opportunity to accumulate and I know smart people are doing so, now that the stock has moved back above the 200 dma and the 50 dma has started to turn up.
What is interesting that since a couple of weeks we get the corrections in gold intra-day.
And since they have that unique oxide mill in Potosi, let them purchase all the oxide material they can get in Bolivia. It is about time, that San Bart starts giving something back to the shareholders.
Gold is not just a commodity. It is money. Whether gold divided by the total money out there goes to 10.000 or not is irrelevant for what is waiting for us as a society. The debt mountain is there and the derivative mountain that kept the illusion alive is also there. They will chose hyper-inflation to write that off in a short time. You think that that hyperinflation does not cause revolutions?
The tremendous short position that exist in the PM miners cannot easily be exited. The faster the gold price recovers, the worse the nightmare for the shorts.
And that is exactly what is playing out right now. We have seen minor short squeezes. I expect bigger ones.
Normally Jorge B is there at the Conference calls. But not this time. As you say, they grade the way they make the most money. It's simply disgusting.
This is very interesting. Not only has gold broken out above the 200 dma, but also the HUI broke yesterday above its 200 dma, sustained by major moves in companies like Newmont.
Remarkably enough, Coeur is still below its 50 dma. Now some would argue, that this is because Coeur as a company is underperforming the sector. My believe is, that this picture of a price lagging Coeur has a totally different explanation. As we have seen, good production numbers early January were a reason for some short sellers to drive the price of Coeur far far below the 50 dma. I guess they did this in order to start their pending short covering operation from the lowest level possible. Another explanation I can not find.
So what is next? I expect CDE to run fast after the general market of gold stocks and reach its 200 dma shortly. That 200 dma is right now at $3.64, so the upward potential short term is tremendous.
As someone uses to say here. We are living in interesting times.
I never read any article of those crooks connected to hedgefunds.
Meanwhile gap is being filled. We will see the results tomorrow night. And hopefully a positive guidensce.
USD is cratering because petro dollar has collapsed. Iran oil and freed savings in foreign accounts to be paid in Euros. Saoudi's selling oil in Yuan to China and retiring dollar denominated reserves from US T-bonds and share markets.Luckily for US, there is still capital from emerging markets seeking a refuge in US. When that stops..........