Friday, 31 August 2012

Bernanke Speech Jackson Hole 2012 - Options at the Zero Bound

The full text of Bernanke's speech of 31st August which seems to have convinced the market that more easing will be forthcoming. Gold up by $36 to $1,691 breaking resistance levels.

Also an interesting Jackson Hole presentation by Michael Woodford on Central Bank options at the zero bound, particularly around Nominal GDP (NGDP) targeting supporting fiscal stimulus.

Thursday, 30 August 2012

A Banker's Look at Gold and Gold Mining

Interesting article from a banker at Standard Chartered on funding for the Gold Juniors.
Discussing West Africa in particular, see the "Regional Exploration" Page for Explorers there.

Tuesday, 21 August 2012

Gold Mining M&A - Mergers and Acquisitions

As suggested here early in 2012 the juniors are seeing considerable M&A activity in 2012.

The concern would be that failures in the seniors, which have seen CEO's depart, may make new heads over-cautious.   More .....

Brent Cook on Barkerville

The controversy surrounding Barkerville continues.
Brent Cook's review of their resource statement courtesy of IKN.

And Quinton' Hennigh's earlier view (also of Exploration Insights, courtesy Inca Kola News.

What has been odd is the strength of the price rebound, but once the cease trade order ends.....?

Monday, 20 August 2012

Gold Stock Reflexivity

A consideration of George Soros' theories of  "reflexivity" applied to gold development stocks.
.......application to gold development stocks: when a company with a gold project trades with a high equity value, potential buyers assign high values to the project and the company, confident that the company will be able to finance the project.  In fact, the higher the stock goes, the easier it is to finance the project, and, therefore, the more value the project has to the company, and the more valuable the company.
However, if the market corrects lower and the value of the company shrinks, then financial observers will question how the company will finance the project, and therefore assign a lower value to the company, forcing the stock lower, reducing the value of the company, etc.
Worth reading in full.

Brent Cook - Not Grade - Margin

Interview with Brent Cook. Emphasising issues with the quality of feasability studies and why margin and profits in mining don't just reflect deposit grades.

Cook mentions a couple of stocks he regularly discusses, Lydian (LYD) and Belo Sun (BSX)

Part of a series

Friday, 17 August 2012

China's hunt for Gold

Interest in gold miner African Barrick, and others, from China.

Reports in the Wall Street Journal, the FT and the source in Qiushi Magazine, a Chinese Communist Party Central Committee academic journal communicating ideology to officials are linked below.

Tuesday, 14 August 2012

OT - Lake District

The sun is a little rare in these parts, but Ullswater in the sun is wonderful.
Here climbing up from Glenridding.

Sunday, 5 August 2012

Failures in the Senior Gold Miners

The recent departures of Chief Executives at major gold miners points to failures in the industry and perhaps more to weak share price performances over the past few years relative to gold.
The XAU:Gold ratio tells the tale

Thursday, 2 August 2012

Global Gold Mines & Deposits 2012

A large review of global 1m oz gold mines and deposits, including ownership and grades.
Remember grade can be deep or shallow so cannot simplistically indicate the economics of  recovery, but as full a list as I think I've seen made publicly available.