Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I'm curious if China devaluing it's currency is good for the price of gold.
What is your opinion?
Trade well.
Here's your chance to sell if you are concerned about the price of gold or the future of BAA.
475k shares long for the long term
GLD - BROKEN OUT INTO THE LARGE GAP FROM THE 20TH
BAA ABOUT TO BREAK THROUGH THE 61.8% RETRACEMENT LEVEL
1 Million Savings per Quarter on Diesel over the next year.
...at least.
It might be more like 1.5 million.
it's more than just a guess...***
it's highly probable to be fact****
From Last Q's MD&A
"Diesel costs decreased 9% during the three month period ended March 31, 2015 as compared to the corresponding period in 2014 as a result of favourable market conditions. As a result of the decrease in the cost of diesel coupled with the aforementioned increases in mine and mill productivity, on a per ounce sold basis diesel decreased 34% from Q1 2014 to Q1 2015."
DEISEL COSTS WILL DECREASE FAR MORE THIS QUARTER
http://www.banro.com/i/pdf/Interim-FS-Quarter-1-2015.pdf
PG 44 Look at the chart on that page.
You'll notice that the oil price declines have not yet factored into earnings...why?
They store fuel for the rainy season and are now replenishing inventory.
Kevin Jennings - SVP and CFO
"We will only receive partial benefit of lower fuel prices in Q1 as we carried high levels of fuel during the wet season and we will drive down those fuel inventory levels as we move through the dry season, getting the full benefit of the lower diesel price."
http://seekingalpha.com/article/3055106-banros-baa-ceo-john-clarke-on-q4-2014-results-earnings-call-transcript?part=single
We might save 1 million a quarter for the next year.
(1 mill / 18 mill)*100 = 5.556 % reduction of production costs.
COMEX DELIVERYS---Everyone is taking delivery of JPM
TODAY'S DELIVERY REPORT
http://www.cmegroup.com/delivery_reports/MetalsIssuesAndStopsReport.pdf
http://www.cmegroup.com/trading/energy/nymex-delivery-notices.html
DETAIL FOR SILVER BUT TERMINOLOGY THE SAME
http://about.ag/futures.htm
"COMEX has reports on how many delivery notices were generated each day, month, and year. The reports show which firms had clients issue the notices (shorts delivering the silver), and which stopped the notices (had clients receiving the silver)."
Looking forward to BAA earnings.
Silver market is really small. Only one billion ounces of silver produced each year.
so that's a 15 billion market. and most of that is consumed in industry.
thus the entire silver market is only as large as one mid cap company.
it can be pushed around quite easily if big entities decide to push.
https://www.silverinstitute.org/site/supply-demand/
What does it matter really. If someone needs to lie in order to impress a bunch of people that he will never meet...well that's so pathetic it's almost beyond my comprehension. Seems almost implausible.
In regards to Dreamweaving- It is possible
on the 5 & 6 of August there were approximately a total of 1,000,000 shares that traded in the low .19s and high 0.18s.
Perhaps we could be thankful that a trader opportunistically took advantage of the low prices...stepped in as a buyer to support the stock...ending it's precipitous decline.
Personally, I'm approximately fully loaded and enjoy not mentally dealing with lower prices if it can be avoided.
I know dreamweaving comes off as arrogant but most of us are no exception to being arrogant and half the people I meet are a little arrogant.
As for me.... I'm humble on line because I can't kick anyone's a** in cyberspace. I'm pretty arrogant in person.
I have no clue...
for all I know there could be no physical gold available for delivery and they could still push the price lower by throwing short positions onto the market.
What is available in both the eligible and registered category is only about 1/10 of total mine production for a year. So the world gold market is much larger.
Who knows...I'm just someone at home on a computer.
True, I clip coupons too.
It's a balance between being humble and frugal while at the same time trying to hit a grand slam in BAA
added 5,000 for 475,000 total shares
ZEROHEDGE-REQUESTING DELIVERY- COMEX!
article 1
http://www.zerohedge.com/news/2015-08-03/comex-edge-deliverable-gold-drops-record-low-124-ounces-paper-every-ounce-physical
article 2
http://www.zerohedge.com/news/2015-08-06/jpmorgan-helps-comex-avoid-gold-depletion-concerns-boosts-registered-gold-78-overnig
----------------------------------------
they can keep the music playing for quite a bit longer I think...
but it is getting tight.
Adding together registered and eligible. It's gone from peak of 13 million to current 7.5 million in the past couple years.
But deliverable (REGISTERED) is consistently under pressure over the past year.
http://www.24hgold.com/english/interactive_chart.aspx?title=COMEX+WAREHOUSES+REGISTERED+GOLD&etfcode=COMEX+WAREHOUSES+REGISTERED&etfcodecom=GOLD
http://www.24hgold.com/english/interactive_chart.aspx?title=COMEX+WAREHOUSES+ELIGIBLE+GOLD&etfcode=COMEX+WAREHOUSES+ELIGIBLE&etfcodecom=GOLD
-------------------------------------
open up the "physical gold movements" tabs in this article.
it's interesting. 20 & 30 tone movements occurred in 2013 and 2014 and there is 22 tones of requests for this month.
https://www.strategicgold.com/insight/
It's in Reference to Twangiza
Glad you responded to the post...thought you would be the most in tune with what's going on.
Daniel McConvey of Rossport Investments rambled on about the TMF (tailings management facility) for quite a bit on the previous conference call. So I thought i'd poke around the recently released NI43-101...you know the big upgrade of Twnagiza's resources and expansion of mine life to 14 years. The full document can be accessed on SEDAR, I don't have a link, I searched for one and they haven't replaced the old technical report on the website.
Anyway,
When poking around on Page 170 I found an interesting "Table 22.3.1 Project life cash-flow". It has a listing of the assumed metrics that were used to calculate the life of mine costs broken down yearly. At the bottom left in the column "Year 2015" is listed $17,950,000 designated to be spent this year on the TMF construction.
From the Conference call.
http://seekingalpha.com/article/3184226-banros-baa-ceo-john-clarke-on-q1-2015-results-earnings-call-transcript?part=single
"Daniel McConvey - Rossport Investments
Good morning. Congratulations on a great quarter and coming back and getting all of financings done. John it's my regular question but I - on the - you’ve been cash starved and now you get the financing and you’re in a lot better shape but my concern as you know has been the Twangiza Tailings spend, because it is so expensive. And if I go back to Simon and meeting with you directors years ago, and would you have situation now as I understand it’s expensive to build that Tailings dam up and you’re looking at a bigger Tailings dam over the course of the next while but it’s going to take two or three years to get that put in place.
In the Western world, where there is the protocol I usually use to file reports with the government, maybe there isn't an Congo my guess is supervision wouldn’t be that good and when those reports are filed with the government, they’re usually done with the third-party backing and that situation is not with the Congo and I understand now you don’t longer have the third-party consultant.
And so that it puts you in - it puts the risk in my mind in a higher degree and I know you don’t want to see anything go wrong. And I should say I have no agenda, I’ve been a shareholder in the past, I have no position in it now, I just don’t want to see anything bad happened to that Tailings dam given the area that its in, given the people maybe be at below and given the reputation, the damage would do to lot of people including you guys.
So I guess what I’m after and my worry is that it’s going to take you too long to get to certain amount of free board you can have, you are probably in decent shape now but as you get towards rainy season you might be in that free board and the temptation would be to run that free board to a level that really is beyond spec to keep Twangiza running through the next rainy season and that’s my concern.
So maybe if you can, can you just tell us what is the free board now roughly and what is the minimum it can be and where will it be in the next six to eight months and how long would it take you to build up the next level of the Twangiza mine to get it right to where it needs to be?
John Clarke - President and CEO
That's a lot of question. On the Tailings dam, Daniel you visited, you've seen the operations, the Tailings dam now being professionally managed where we do have third-party discussions on all of our future planning and indeed that is a center point of our plans to open up the second Tailings dam.
We will reduce our cost life of mine and so it’s all part and parcel with the - soon to be upgraded resources and reserves at Twangiza. The operational management of the dam is going extremely well, we are lifting the dam according to very reasonable schedule. We cannot take risk in that area and we are like any other operation, we are seeing by the whole Congolese community both government and local and we will do a first class job on it.
I do understand your concerns to work on the opportunity to show you basically what’s in place because it’s going extremely well.
Daniel McConvey - Rossport Investments
I will be delighted actually if - as I know one consultant's gone is it have you named the second consultant to take over the third-party monitor?
John Clarke - President and CEO
It’s bigger than that, we're making sure that current and our future design has got the best third party inputs. So it's not just current, it's the whole future planning of our operations as we do in every department.
Daniel McConvey - Rossport Investments
Okay. Well, it isn't [doubt] [ph] now but I would be - if I can get a later distant terms what the free board is and what the pattern you see happening over the next year or so is for the dam that would be helpful and look forward to one on one discussion. But it’s just, it’s when you see it and having lived through as you have a lot of situations that have not been pleasant and given where it is and given the cash constraints, it’s you understand my concern?
John Clarke - President and CEO
I can give out the comfort that's our management team has planning a first class observation for a long life. It is important area and we do cases for that and we’ll continue to. Thanks Daniel.
Daniel McConvey - Rossport Investments
Thank you, John."
TMF CONSTRUCTION 2015??? TIMING OF SUSTAINING CAPITAL?
Anyone have insights as to what the construction timeline is for the tailings management facility at Twangiza. It was mentioned on the previous CC and I see on the NI43-101 (Table 22.3.1) that they have budgeted $17,950,000 for "Project Capital-TMF construction" in 2015.
Heavy volume on the December Futures contract.
that's where the action has been lately.
http://www.barchart.com/commodityfutures/Gold_Futures/GC
5,000 more for a total of 470,000 shares
Added 5,000 shares total of 465,000 shares.
WHAT IS THE NEW BOOK VALUE OF BAA???
ANYONE CARE TO OPINE OR PROVIDE A CALCULATION AS TO WHAT BANRO'S NEW BOOK VALUE WILL BE WITH THE INCREASE IN RESERVES.
$/SHARE = ?
"Banro's overall Mineral Reserves have grown by 23% to 2.91 Moz"
http://news.banro.com/press-releases/banro-announces-a-59-increase-in-twangiza-reserve-nyse-mkt-baa-201506081011142001
ZEROHEDGE "Comex once again succeeded in sweeping default fears under the rug"
http://www.zerohedge.com/news/2015-08-06/jpmorgan-helps-comex-avoid-gold-depletion-concerns-boosts-registered-gold-78-overnig
118k shares traded by 11:00am?
Holding 460k shares
cost basis 0.1557
No. It's on the AMEX and trading under a buck for over a year.
"The active August delivery requests on the Comex are at 25.80 tonnes. The Comex Registered Inventory is at only 10.939 tonnes."
https://www.strategicgold.com/insight/
looking at one month interval
http://www.24hgold.com/english/interactive_chart.aspx?title=COMEX+WAREHOUSES+REGISTERED+GOLD&etfcode=COMEX+WAREHOUSES+REGISTERED&etfcodecom=GOLD
Open for commentary...
curious...quite curious what yours would be.
Of course till an inflection point price is truth.
Futures traders short 340 tones
"Futures traders are also anticipating more weakness with so-called managed money investors such as hedge funds going short – placing bets that the gold price will decline – to the tune of 12.1m ounces or 340 tonnes, a new record high"
I don't know, it's pretty demoralizing.
Strategic Gold - Market overview.
http://www.strategicgold.com/insight/
Consolidated data.
found the Comex and Gld spreadsheet interesting
someone bought (literally) a couple of shares at the offer (ask) price.
it means nothing.
400*0.28 = $112
ZEROHEDGE-VENEZUELA
http://www.zerohedge.com/news/2015-07-29/meanwhile-venezuela-socialist-paradise-has-arrived
Fundamental reasons to have a gold backed currency.
Accounting. What's the best trading platform for tax purposes.
I often wind up having to manually enter in tax information even though I get a consolidated 1099s from some brokers.
I'm looking to consolidate brokerage accounts and was wondering what you suggest given that you execute a large volume of trades.
Cost is also a consideration. I currently get $2 per trade at Vanguard.
In terms of tax accounting convince and price what do you recommend?
It's likely a very conservative analysis.
SRK would be liable for any serious miscalculations.
Just like they (Banro) predicted that they would produce 110,000 oz from Twangiza and they are on track to produce 140,000
oops wrong board
Cost avg. at about $11.60
1650 Units for the long term.
4,700 units-Cost Avg. = $4.65 Long term bet.
Quite unlikely
I'm investing not trading.
but yeah...you got that.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=115660084