Lovely action around the "London Gold Fix" this afternoon. After trading all day in the 1234-1240 range it drops for about an hour around the time of the gold fix and then rises again afterwards.
Interesting times. Gold (and Centamin) moving up and some predict that will continue for a month or more. If the stars align: than the new investment law will be enacted before gold turns south. Many pundits are predicting that the final low will happen this summer/fall.
It will never be fully resolved, just postponed indefinitely...
CEY Live TradesTimeTrade PriceVolume≈ Value 16:35464.252,308,9961.484M
big late sale
2015 guidance was expected to be 450K+ but was given as 420K. Josef has learned his lesson in hubris.
IMO the production update was good. They were near the upper end of the guidance provided in November and they gave us an earlier than expected estimate for 2015 guidance. Don't know why the stock took a drop but it did get a little overbought earlier in the week and
Should have gone with QPP
No idea. Probably confused with the original 420K.
Centamin revised their production target to between 370,000 and 380,000 oz on November 5th. WTF are these guys talking about 340,000 oz?
Thursday morning per Centamin web site
Today's sp increase indicates that Q4 production numbers are expected very soon - possibly in the morning.
Q4 preliminary production figures should come out any day now. 2014 guidance was adjusted lower in early November so I cannot imagine they won't meet it. 2015 guidance won't come out for a few weeks - latest date for those would be March with the annual report for 2014. Each release should give sp price a boost.
The Greeks may buy gold and profitable gold mining shares.
Today's "Ahram Online" contains an editorial on the investment law. It laments that the current schedule of having the law completed by January 15th and put in action before the investment conference in March will have the law in place before the parliamentary elections. They don't believe the government should be putting important new laws in place until parliament is elected and has a chance for review. I understand their point of view but .....