Beiträge von gogh

  • Thistle Mining

    @BM,


    da wünsch ich Dir viel Glück. Aber sei nicht geizig; 0,140 sollten

    es schon sein. Da die in " Null,komma,nix" hochlaufen.


    Feiern wir dann mit großem ästhetischen Foto.


    gogh

  • Thai Guru's Gold und Silber ... (Informationen und Vermutungen)

    bognair,

    wenn´s Dich denn interessiert. Patrone hat

    als Dottore Lupo im W/O Forum einige

    Jahre geschrieben. Da ich dort zuerst 1 Jahr

    gelesen und dann 2 Jahre geschrieben habe,

    hatte ich mir zu Dottore eine Meinung gebildet.

    Das wollt´ich sagen.


    Hoffe iimmer noch, daß

    irgendwann Goldonly und Sovereign

    hier einmal schreiben werden.



    Die schrieben und handelten

    gegen "den Geist der Werbekunden".

    Das wäre nicht weiter schlimm gewesen,

    wären sie nicht so nachprüfbar erfolgreich damit.








    gogh

  • Thai Guru's Gold und Silber ... (Informationen und Vermutungen)

    Verstehe ja, daß die Art von Patrone manch einem

    gegen den Strich geht. Nachdem ich seine

    Ausführungen mehrere Jahre gelesen habe,

    kann ich von der Art u. Weise abstrahieren.


    Patrone fährt eine klare Linie mit seinem Minendepot.

    Da ist der Inhalt seiner Überlegungen immer kompetent.


    Die Art und Weise leider nicht immer.

    Noch eine Erfahrung. Gerade die Kenner sind

    schwer erträglich.


    gogh

  • ***** Exploreraktien, die heiße Spekulation...*****

    Exploration starvation drying up gold consolidation
    ===============================


    '06-MAY-04 07:33' GMT © Mineweb 1997-2004



    LONDON (Mineweb.com) -- Gold producers continue to underspend on exploration resulting continued deterioration of mine lives and resource base quality, bringing the industry’s sustainability into doubt, especially in the super leagues.


    Trevor Steel, one of the principals of global resource investing powerhouse, Baker Steel Capital Managers, told delegates to the Global Mining Forum that he thinks the exploration drought will probably see more diversification among senior gold producers and, possibly, even breakups.


    Disintegration seems unthinkable given the several billions poured into making large scale companies over the past decade. Indeed, as Frank Holmes of US Global Investors pointed out, underinvestment in exploration has been as much a driver of consolidation as it has been a consequence – the low gold price has forced companies to cut finding costs and look for savings through combination synergies.


    Steel says the industry faces a statistical brick wall. He highlights findings from a recently published journal paper, by Ralph Bullis of Canada, which showed that the preponderance of economically viable gold projects are not of the scale required by companies producing around 5 million ounces a year and more.


    Consequently, large producers may have to adjust their hurdle rates and agree to mine smaller deposits though Steel notes the attendant increased management risks and costs. Also, small deposits are unable to add much growth to a senior producer’s profile, handicapping their attraction to investors. Absolute growth in production and cash flow remains one of the surest ways for a gold company to push its valuation multiples to a much higher level.


    According to data on 263 gold deposits representing 1.23 billion ounces compiled by Don McLean of Paradigm Capital in Toronto, the median gold deposit size is a meagre 2.2 million ounces with an average size of 4.7 million ounces. The average value is heavily skewed by a handful of super-deposits with decamillion ounce resource bases. They are the exception rather than the norm and the prospects of finding more of them are poor given the low exploration spending.


    Steel says that since 1990, roughly 348 million ounces of new gold has been found in 115 deposits. Miners spent $22 billion to add those ounces to their books for an effective finding cost of $63 per ounce. That is far above the industry’s informal target of $15 per ounce.


    “The industry is drawing down its bank of reserves. It’s underinvested,” says Steel, noting that at a finding cost of $63 an ounce, producers should be spending $5 billion a year to rebuild their reserve profiles. Actual spending is in the order of $1.6 billion each year.


    So far, miners have persuaded investors to accept a dramatic decline in reserve life and have done so without costing themselves much on their multiples. Indeed, analyst target prices derived from net asset value multiples have borrowed heavily on past performance irrespective of the fundamental shift in resource base quality.


    It won’t be easy for companies to quadruple exploration spending when they are already pressed to raise those amounts of finance just to rehabilitate balance sheets sapped by years of low gold prices, rejigging existing mines to run at lower pay limits thanks to the higher gold price, and fund project pipelines.


    Overall, it is also good news for the gold price because the industry is baking a large supply deficit into its future. Since 1990, around 1.1 billion ounces of newly mined gold have been sold, leaving a cumulated deficit of three quarters of a billion ounces relative to discovered gold.


    “The consolidation trend is over,” says Steel, adding that the treadmill the large producers on is moving faster and faster without any obvious relief in sight. As a result, his firm remains focused on the increasingly crowded “intermediate” sector where relative and absolute growth are powerful value drivers for stocks.


    Within that general approach, Bake Steel is also cognisant of playing the mining cycle which means they don’t want to be left holding the bag on premium rated stocks when the good times inevitably end.




    gogh

  • 4xKaffern (Drooy, GFI, HMY, IAG) ab 28.04.04

    Reuters


    UPDATE - Gold Fields outshines rivals with Q3 profit jump


    Thursday May 6, 7:43 am ET
    By Eric Onstad



    (Adds news conference, analyst, updates shares)
    JOHANNESBURG, May 6 (Reuters) - The world's fourth ranking gold producer, Gold Fields Ltd (GFIJ.J), reported a jump in third-quarter operating profit on Thursday on higher gold prices, lower costs and a recovery at a mine hit by fires.


    ADVERTISEMENT


    The South African group, restructuring hard-hit local mines while expanding overseas, said operating profit for the three months to end-March inmillion) compared to the previous quarter.


    The results followed weak quarterly profits at rivals Harmony (HARJ.J) and AngloGold Ashanti (ANGJ.J), wh


    Analysts said Gold Fields' result was flattered by a revival at the Dreifontein mine, which had suffered from fires in the previous quarter.


    "If Dreifontein had had normal production in the previous quarter,p so well," said analyst Allan Cooke at HSBC Securities.


    "That's not to take away from these results. Given that the rand was still strong, it was a good operational showing."


    Profits by South African miners have been slammed over the past year as hefty gains in the rand depressed export income from dollar-denominated gold. The rand (ZAR=) gained 28 percent last year, but was largely steady during the March quarter.


    Gold Fipercent this year, rose 0.5 percent to 75.20 rand by 1130 GMT, outperforming the gold mining index (^JGLDX - News), which was down 1.3 percent.


    MARGINS RISE


    Earnings per share (EPS), excluding contributions from financial instrued to 48 cents from 23 cents in the previous quarter, better than expected.


    Seven analysts polled by Reuters had forecast a consensus figure of 33 cents, with estimates in a range of 26-47.50 cents.


    Profits were helped by a recovery in operating margins tonks to a sl and lower costs. Margins doubled on South African operations to 14 percent and the group is targeting a further rise to 20 percent in the current fourth quarter, Mike Prinsloo, head of South African operations, told a news conference.


    This depends, however, on a local gold price of 90,000 rand per kg, compared to the current level around 85,000, he added.


    Gold Fields, like Harmony, has bperations to offset the impact of a strong rand on its profitability.


    Production is not expected to suffer but redeploying workers, Chief Executive Ian Cockerill told the news conference. Gold production dipped to 1.033 million ounces in the March quarter from 1.045 million in the previous quarter, but Cockerill said output is due to be slightly higher in the three months to end-June.


    TALKS WITH NORILSK


    Gold Fields is seeking to expand overseas to lessen its ex to boost output by 1.5 million ounces within five years in areas where costs are denominated in dollars, such as elsewhere in Africa and South America.


    Cockerill said Gold Fields had agreed with Russian methich took a 20 percent stake in the firm last month, to explore cooperation regarding gosomething concrete," he said, declining to give further details.


    Cooke said with Gold Fields' annual output slightly over four million ounces and Norilsk's more than one million, they might choose eventually to merge their gold operations.


    "It's early days, but a combination of the assets would make for an er," he said. "


    gogh

    GFI hat wohl abweichendes Wj.

    In dem Rand-Umfeld ganz beachtliches Ergebnis. Plus Norlisk Fantasie.

    ganz beachtlich!

  • ***** Exploreraktien, die heiße Spekulation...*****

    Peru eyes world No 5 gold spot
    --------------------------------------------------------------------------------

    Peru expects the 2005 start of Barrick Gold Corporation's Alto Chicama project to make it the world's No five bullion producing nation with output of 185 tons next year, a senior industry executive said on Tuesday.


    Peru last year leapfrogged Indonesia to arrive in the No six spot, with record output of 172 tons, and expects production this year to edge up to 175 tons, said Carlos Galvez, the president of the gold committee of Peru's private National Society for Mining, Petroleum and Energy.


    "This year we expect Peru to produce 175 tons of gold and that with Alto Chicama, which should start production in the last quarter of 2005, we'll rise to around 185 tons and the country will move into fifth place in the world," said Galvez, who is also finance director of Peru's Compania de Minas Buenaventura.


    He was speaking to the opening session of an international gold conference in the Peruvian capital, which gathers officials from the world's top mining companies and ends on Friday.


    Alto Chicama in Peru's northern Andes is expected to produce 540 000 ounces of gold a year with total investment of $340-million.


    Peru – a poor country once dubbed a beggar sitting on a gold bench – is already home to Latin America's biggest gold mine, Yanacocha, which is owned by Newmont Mining Corporation with Buenaventura as a partner.


    It has an exciting "gold belt" in the south that is attracting a lot of exploration activity.


    Energy and Mines Minister Jaime Quijandria said Alto Chicama was the most exciting of Peru's 169 mining projects. He said 120 miners currently operated in Peru, of which 80 were searching for gold.


    He said Peru had proven and probable gold reserves of at least 100-million ounces and the ministry was receiving more and more exploration requests for the southern area, where one successful small gold mine, Minera Aruntani, already operates.


    Peruvian-owned Aruntani, which is already catching the eye of gold majors, hopes to produce 200 000 ounces this year and 250 000 next year, when it taps into its main deposit.


    "Peru is, without exaggeration ... an enormous gold deposit ... there is gold all over Peru," Quijandria added.


    Galvez saw investment in Peru this year of $500-million to $600-million to develop new projects.


    The country is also hoping to make its mark as a jewelry producer. A new government plan to promote that sector hopes to boost annual export of jewelry and gold objects to $200-million within two to three years from $56-million now, Foreign Trade Minister Alfredo Ferrero told a news conference. Meanwhile, Peru's government, which last week presented a draft mining royalties bill to Congress, has now come up with another plan, head of the National Society of Mining, Petroleum and Energy industry group said on Tuesday.


    Jose Miguel Morales told reporters on the sidelines of an international gold symposium that he had seen a government plan that would require smaller companies to pay an early installment on their income tax, while slapping a 3% flat-rate royalty on bigger producers.


    "The government has a new (royalties) project, a sliding scale," Morales said. Payments of 1% or 2% – it was not clear whether of production or sales – would be made as an advance on income tax while bigger producers would face a straight royalty of 3%, he said.


    Morales said such a plan would inflict "terrible damage" on medium-sized miners.


    No one at the Energy and Mines Ministry was immediately available for comment.


    The conference, which opened on Tuesday and ends on May 7, brings together top executives from the world's biggest bullion companies and is certain to sound an alarm bell on plans to charge royalties as a way of compensating for exploiting a renewable resource. Chile – the world's No one copper producer – is also studying a controversial royalty plan.


    The mining commission of Peru's Congress has proposed a flat 3% levy on production while the government last week presented a bill seeking payment of between 1% and 3% of sales as an advance installment on income tax.


    A series of other projects have also been submitted by individual lawmakers, who believe that rich mining companies can and should shoulder a cost that would give more cash back to a country where half the population lives in poverty.


    The government says a royalty plan would provide more cash for regional infrastructure projects. Energy and Mines Minister Jaime Quijandria told reporters at a news conference on Tuesday that debate was "healthy." He was not in favor of abrupt changes for the mining sector, which brings in half of Peru's foreign earnings, but said he favored different conditions for different metals.


    Many miners have so-called tax stability contracts in Peru which lock in certain tax rates for lengthy periods and cannot be changed, so royalties would apply to 40% of current mining production, Quijandria said.


    Peruvian mining companies are dead-set against any form of royalty, saying it will send investors flocking elsewhere.


    "We are against royalties. We think they are very inefficient for the mining world because you lose a third of your reserves," Morales earlier told the same news conference.


    "Reserves are savings. It's as if your bank account lost a third of its value. This is the real reason (we're against royalties), it's not that we don't want to pay tax," he said.


    One of the themes of the bi-annual symposium is investment prospects. Peru says a "gold belt" in the south has exciting opportunities and fears investors could be scared away.


    "Peru has magnificent opportunities. Royalties must be an accidental proposal by people who don't understand the subject," Morales said.


    He hoped dialogue could resolve the royalties row.


    "The moment has come for all sides to sit down at a table and to discuss all our concerns. I am sure a consensus position would emerge," he said. - Reuters


    --------------------------------------------------------------------------------


    gogh

  • Aufruf an den User btrend

    Gold now detached from US dollar


    Gold prices have not gone up much in the past week despite pressure on the US dollar. Brokers said this appeared to be a break in the pattern of dollar weakness boosting the gold price. Similarly the 13-year high for oil prices this week has not lifted the yellow metal, as might be expected

    aus einem "Middle East" Finanzblättchen vom 06.05.04 über Kitco

    gogh

    was nicht ist, kann ja noch werden.

  • Sitz u. Pits in Australia (Goldminen)

    Sino’s deeper drilling intersects more gold

    By: Gareth Tredway


    Posted: '31-MAY-04 10:00' GMT © Mineweb 1997-2004



    Sino Gold, the Australian listed Chinese gold miner, says the latest drilling results on its Jinfeng project, bode well for the June resource estimate.


    Deeper diamond drilling, on the F3 fault structure, intersected a downhole length of 6 metres at 10.7 g/t from 705 metres. The company says this is the down-dip extension of the F3 fault, which confirms the structures continuity to about 750 metres. The new intercept is 70 metres below the phase two drilling intercept in hole HDDS0055 of 18 metres at 7.1 g/t.


    The new drilling also produced two downhole intercepts of 7.5 g/t from 601 metres and 5.2 g/t from 646 metres.


    Sino Gold expects the new mineral resources estimate to be in excess of 3 million ounces of gold. In August 2003, the project resource was estimated at 2.6 million ounces.


    Sino Gold, which is China’s largest foreign gold producer, owns 82 percent of the Jinfeng project. The company is looking to obtain a debt facility for the project, has initiated application for a mining licence and other necessary permits, intends to upgrade the access road to the site for $2.1 million and place funding towards the relocation of the 52 households required to move outside of the proposed project area. Gold production is expected in late 2005.

  • Sitz u. Pits in Australia (Goldminen)

    Wollte hier keine Reklame für den Austral. - Explorer Tanami machen.

    Der Text ist dafür auch garnicht geeignet.

    Man erfährt etwas über die Northern Territories und

    über Bohrtechniken. Beides kann in irgendeinem anderen

    Zusammenhang interesssant werden.


    Aber so gemächlich gehen wohl die wenigsten

    "neuen" Goldbugs vor. Chacun à son gout.


    (Gruss an Dottore, können die anderen 16-Ender auchmal was sagen?


    gogh

  • Unbekannte Aktie!

    hab´in Posting 2 auf S. 1 eine Aussage gefunden:

    5 $ per Unze Silber.

    Soll durch Beiprodukt Kupfer auf 3$ gesenkt werden.


    Wird aber nicht spezifiziert. Was da gerechnet wurde.


    gogh

  • Unbekannte Aktie!

    Karl,

    von Silber hab´ich mich immer ferngehalten

    und mich auch nie mit den SM befaßt.

    Deshalb vielleicht eine dumme Frage.

    Weißt Du mit welchen Cash-Cost je Unze Silber

    zu rechnen ist?


    gogh