Stock Chat: Time for Gold?

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Time for Gold?

Printed From: BullCharts Forum
Category: Market Discussion
Forum Name: Stock Chat
Forum Discription: Discussion about stocks and markets.
URL: http://www.bullcharts.com.au/forum/forum_posts.asp?TID=208
Printed Date: 05 May 2024 at 9:07am
Software Version: Web Wiz Forums 9.69 - http://www.webwizforums.com

Topic: Time for Gold?

Posted By: Cobra
Subject: Time for Gold?
Date Posted: 03 May 2005 at 11:59pm

With the market whipsawing there has been one sector that has really taken a hammering of late - gold. Lots of gold stocks are nearing long term lows and appear to be oversold, by the fact that both the US & Au dollar gold prices have not really been sold off to the same extent.
Some stocks to keep an eye on -
Croesus CRS - yearly lows, oversold at 35c
Newmont NEM - oversold on mild underperformance for the quarter
Gallery Gold GGN - not so oversold but good buying at 35c
Newcrest NCM - come off recent highs
Bendigo BDG - will start mining gold sooner than expected $1.00
Lihir LHG - costs under control, higher output predicted bargain at $1.00
Lion Selection LSG - buy a bundle of gold stocks with one company $1.70
Oxiana OXR - 85c
Others include EQI, DIO, SBM (see what they do with Sons Of Gwalia gold mines?) BGF, HIG
And a long shot with good exploration prospects, DeGrey mining @ 26c
Technicals show the long term US gold price is approaching the low for this multi-month cycle, forming a wedge. Wait to see if it breaks to the upside?.

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BullCharts version:3.4.1.28129
Windows XP SP2

Replies:

Posted By: Owen
Date Posted: 04 May 2005 at 11:02pm

Cobra, how come Lafayette (LAF) is not on your list?

Posted By: Cobra
Date Posted: 05 May 2005 at 7:51am

It is, sort of . Lion Selection group has a stake in the following companies -

Allegiance Mining AGM Australia � nickel 13.0 6.1 5.3
Austindo Resources ARX Indonesia/Aust � gold 12.6 4.0 3.7
De Grey Mining DEG Australia � gold 6.6 2.4 2.1
Exco Resources EXS Australia � copper/gold 9.9 2.9 1.9
Gallery Gold GGN Botswana/Tanzania � gold 21.9 21.7 45.5
Havilah Resources HAV Australia � gold/base metals 19.4 2.4 15.3
Indophil Resources IRN Philippines � copper/gold 28.8 11.6 31.8
Lafayette Mining LAF Philippines � gold/base metals 21.3 10.1 25.6
Leviathan Resources LVR Australia � gold 16.6 10.8 13.4
Sedimentary Holdings SED Australia � gold 23.7 8.1 16.0
View Resources VRE Australia � gold/nickel 16.1 5.5 4.6
Westonia Mines WEZ Australia � gold 36.6 5.0 5.9

Bound to miss a few companies. What are you buying these day's?

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BullCharts version:3.4.1.28129
Windows XP SP2

Posted By: Cobra
Date Posted: 24 May 2005 at 4:17pm

One stock showing unusual activity lately is Lihir. Up 4c to 1.08 today on higher than usual volume. Lihir is scheduled to mine richer lodes over the next few months, the geothermal power plant is due for commissioning cutting costs. It has been in a tight trading band the last few weeks, and depending on the direction of the gold price, may be about to move. The trading action between buyers & sellers shows something bigger may be happening also. Could be a surprise takeover target, with Rio a willing seller at the right price?.

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BullCharts version:3.4.1.28129
Windows XP SP2

Posted By: Cobra
Date Posted: 13 Jul 2005 at 2:05am

An update on Lihir LHG and gold stocks generally. Since the first post LHG has had an impressive run up to $1.28 as of today, and looks to have further to run, as indicated by overnight action in the US (LIHRY).

Croesus CRS - 40.5 - re-rating due to new resources
Newmont NEM - ho hum, no action here yet
Gallery Gold GGN - ditto
Newcrest NCM - impressive rally from 13.30 to 16.72 - time to take profits
Bendigo BDG - signs of life at 1.10
Lihir LHG - bargain at $1.00 - 27% return
Lion Selection LSG - ?
Oxiana OXR - 85c - re-rated to 92c
St Barbara - SBM - slowly overcoming overhead of out of the money stock holders above 11c. A struggle up to 20c
DeGrey DEG - my preferred long shot with encouraging drilling lately, buy on dips to low 20's?

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BullCharts version:3.4.1.28129
Windows XP SP2

Posted By: Cobra
Date Posted: 09 Apr 2006 at 11:28pm

Another update on Lihir LHG and gold stocks generally. Since the first post LHG has had an impressive run up to $2.93

Croesus CRS - what a dud!
Newmont NEM - peaked @ $8.20
Gallery Gold GGN - taken over @ prices above 50c
Newcrest NCM - brilliant
Bendigo BDG - peaked @ 2.60, lots more upside potential with production scheduled to commence @ 100k per year and possible takeover target
Lihir LHG - recommended at $1.00 - now $2.84
Lion Selection LSG - now $2.18 on the move
Oxiana OXR - recommended @ 85c - now @ $2.77
St Barbara - SBM - a star performer with more to come now 0.645
DeGrey DEG - still a long shot, recently been to 15c now 19c & solid support
Ballarat - another hot junior
Sipa - in partnership with Newmont, may have some surprises soon

Strategy - wait for (general) market correction & accumulate gold stocks on pullback. Gold bull is now entering stage 2 of 3.
Any other promising juniors??

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BullCharts version:3.4.1.28129
Windows XP SP2