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

cheers GF.

On the move again.

FT:
"A RUSSIAN billionaire has quietly built a large minority stake in Petropavlovsk, fanning speculation that he could launch a bid for the gold miner chaired by City veteran Peter Hambro.

Viktor Vekselberg, whose net worth is estimated at $12bn, controls a vast empire through his holding company Renova. In recent weeks it has used three subsidiary companies — Lamesa Group, Lamesa Foundation and Polo Company— to amass a 20% stake in Petropavlovsk, owner of one of Russia's largest gold mines.

Renova did not return calls.

Petropavlovsk — founded 21 years ago and originally called Peter Hambro Mining — declined to comment.

The move by Vekselberg, 58, owner of a 250ft super-yacht called Tango, is the latest development in a harrowing year for Petropavlovsk.

The miner nearly went bust when it was unable to meet repayments on more than $900m of debts. It had spent heavily to develop a large deposit in eastern Russia amid a crash in the price of the precious metal. From a peak of nearly $1,900 an ounce in 2011, it has dropped to about $1,076.

Petropavlovsk was saved by a deeply discounted £155m rights issue in February that wiped out shareholders who chose not to throw more money at the company. The deal included a new $100m (£65.7m) bond convertible to stock."

Declared short interest has now dwindled to less than 1%, from a high of 8%.

Many are buying.
Gold at 1200, and expense at 850, they should have made enough cash to reduce debt further.

One to watch....as they might be able reduce debt levels...

Gold is rising above 1220.

Is anyone else optimistic about this?
Big volumes and steady rise recently.

it's an interesting high risk/reward play
if the markets are to continue south, then gold is likely to rise, and even spivvy stocks such as POG should benefit ..... i think it's a low cost producer actually, which will certainly help

The 7p level seems a constant struggle to break through. Also POG is heavily laden with debt, which seems to put off some investors. Am a holder so hoping you are correct.

Once again barely made it past the 7p level.

Very strange movement.
Gold continues upward trend, but POG is falling

Surely POG is controlled by momentum trading at the moment? Fundamentals seem to be ignored.

A bit of volume, finally

Will it stay over 7p this time?
2517

Anyway, I need 15p to break even on this bunch. And 50p to recover all my losses on this shit.

Blimey.....high of 7.66p....missed it!
Now where to?

Nice gap to fill!!! 10p here we come!
""The spot iron ore price continues to defy critics and jumped 5% on Friday to US$53.75 a tonne.
The iron ore price is now up 40% in less than three months, and well off the lows of US$38.30 a tonne set in December 2015."

Up we go again.