http://www.kitco.com/charts/livegold.html

cheers GF.

Cazenove comment today:
"Guidance reiterated, cost cutting measures: POG forecasts 760-780koz in FY’13 at flat unit costs at its hard rock mines. This is in line with JPMe of 766koz at $952/oz. Construction of the POX plant is on track for Q1'14 commissioning with the Malomir floatation circuit on track for Q3’13.
Management is assessing cash conservation including: cutting capex and exploration, slowing POX ramp-up to 2015 and attempting to process greater non-refractory ore. We identify a key risk with such measures could be the impact on 2014 and 2015 production and cash flow if POX is slowed.
Net debt increases to $1.2bn, but repayment relief: Quarter end net debt increased 10% from YE’12 to $1.2bn. POG’s shares have lost 63% YTD on balance sheet concerns at lower gold prices. Positively POG states it has renegotiated 2014 loan maturities, shifting 50% of $337m repayable in 2014 to 2016 and 2017. This leaves POG’s $380m, Feb’15 convertible bond as its key refinancing risk. We estimate gold will need to average over $1,400/oz for the rest of 2013 and exceed $1,500/oz in 2014 to avoid breaching POG’s sub 4.0x net debt / EBITDA covenant. $106m gold market value: Ex-IRC, POG’s gold has an implied market value of $106m which we regard as too pessimistic. Despite real concern for its balance sheet we estimate loan covenants come do not come under threat until 2014, therefore on spot POG is not facing imminent liquidity stress.
Valuation: We forecast earnings are close to breakeven at spot, yet we still calculate POG’s gold operations trade on MtM 5.3/10.3x 2013/14 PER and 3.0/3.5x EV/EBITDA. We maintain our £4.20/shr PT and with POG trading at just 0.43x P/NPV. We remain Overweight."

Canaccord Genuity Buy 134.85 138.00 600.00 600.00 Reiterates

Westhouse Securities Buy 134.85 138.00 365.00 365.00 Retains

Bank of America Merrill Lynch Buy 134.85 138.00 530.00 530.00 Retains

Blimey skinny it this a bargain or are the brokers taking the pith.?

Added charts at top.

God knows - well someone must!

Wonder if its bottomed. Suppose thats on gold price?.

Actualy out fishing so limited to what I can do on this poxy lap top.

Any idea what other brokers are saying?.

Skinny that big turd above is it the same one someone posted to Winnie?. LOL.

23 Apr 13 Liberum Capital Buy 138.60 429.00 - Resumes

23 Apr 13 Canaccord Genuity Buy 138.60 600.00 600.00 Reiterates

23 Apr 13 Westhouse Securities Buy 138.60 365.00 365.00 Retains

23 Apr 13 Bank of America Merrill Lynch Buy 138.60 530.00 530.00 Retains

17 Apr 13 Westhouse Securities Buy 138.60 365.00 365.00 Retains

16 Apr 13 Nomura Reduce 138.60 240.00 125.00 Reiterates

16 Apr 13 JP Morgan Cazenove Overweight 138.60 460.00 420.00 Reiterates

15 Apr 13 Citigroup Sell 138.60 274.00 141.00 Downgrades

11 Apr 13 Societe Generale Buy 138.60 470.00 275.00 Reiterate

Cheers Skinny much appreciated.

Post 1542, SP now 1420p ish.

Odds look better for bulls.

Skimming this over in my mind.

Caught 2 lovely Rainbows. Steamed fish and mash for tea.

Looks like a bottom on the 2 daily Skinny plus more QE promised in US and Japan. China buying gold like no tomorrow.


Ohhhhhh you devil your tempting me to buy.

Skinny got your eyes on any other charts?.

Seem to pull the bargains out.

Well market annomalies which I look for.

Appreciated if you have any.

Another of my boring yielders SDV looks quite good, but then I've been long for an age.

SDV right cheers Skinny, having a gander havent had a bite for 90 mins now.

Think ill be packing up soon.

Probably of no relevance, but a company that I have used in the past to trade 'real' gold, are offering to buy krugerrands for 99% of the price of gold for a limited period!

Who is it...?.

Our kids got loads of them.

Bloody hell must think though gold heading up in medium term. ehhh

ATS Bullion.

A couple of fund managers still seem happy to increase their short positions, which seems a bit bizarre at this time.

http://www.shorttracker.co.uk/company/GB0031544546/all

Cheers mate.

much appreciated.