Anyone have any views on whether this share is going anywhere??

In H2 2008 Mnogovershinnoye (MNV) produced 90,002 ounces of gold bringing the yearly production to 158,885 ounces which is within the forecasted range and exceeds the 2007 production figure by 1.5%
At the end of 2008 due to the fall in metal prices and to conserve cash it was decided together with our joint venture partner to delay the commissioning of the Novoshirokinskoye mine, and to slow down the development of the Mayskoye and Taseevskoye projects
All the works at the exploration sites of the Company planned for 2008 have been accomplished
Chairman, Duncan Baxter said, We are maintaining our cautious approach to expenditure while the markets remain volatile. When a sustained recovery is apparent, we will reassess this situation and consider the resumption of activities that have been slowed down or put on hold. During the last three months of 2008 the new management team has put in substantial efforts to reduce costs which should positively affect the Companys performance in 2009. Work on increasing the Companys efficiency will continue. We would also like to note that the recent recovery of the gold price is encouraging and the Board continues to keep a close eye on potential acquisitions of producing assets.

Financial results for the year to 31 December 2008 will be announced late April 2009.

Any idea why Goldman downgraded this recently, other than it being overbought, now it's starting to look oversold considering the expected Gold bull market IMHO, especially if the new mine goes into production.

If the bounce in the gold sp holds I'm getting back in, will wait another day or two though, can't really see why this shouldn't go back to 60p or more in the next two to three months.

Goldman probably wanted some for themselves!!

how deep are Mr A's pockets and how much is he already hurting?

Corker of a base wedge/triangle pattern set up which should result in a big breakout and move north especially with gold sp on the rise........

Backed by broker Buys aswell.

using a more simplistic chart, i think i would want to see sp move sharply above 55 before a breakout can be called ..... that said, downside looks fairly limited

Nice charts old mate. Nice to hear from you again.

Not been here as much as would have liked as per usual making 'loads err money'.

Happen to think its one of the best patterns ive seen for many a month, look at the time it took to form, thats the clue as to how strong the breakout will be.

not sure what i think of gold at the moment and don't hold any gold mining shares, but may well change my mind ..... glad to have called crude prices reasonably well when all about us were forecasting $30 and lower

btw, i still like CEY as a minnow miner

just noted wide spread +/-4p and very low liquidity with 5000 being EMS

Yep but that spreds being manipulated at the moment by the MMs, give it time and theyl let go.

Good call on crude cyners.

From a fundies point of view everything looks in place for a smart re rating here.......

forward P/E of just over 8.4 way undervalued IMHO......

Highland Gold Mining Ltd

FORECASTS
2009 2010

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Arbuthnot Securities [R]
28-05-09 NEUT 31.02 6.89 27.36 5.53

Fox Davies Capital
28-05-09 BUY 4.42 5.85

Investec Securities [R]
22-04-09 BUY 20.24 4.68 22.34 4.68

Alfa Bank
11-11-08 UREV

2009 2010
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 0.00 4.42 0.00 0.00 5.85 0.00
1 Month Change -26.89 -0.48 -25.44 1.17
3 Month Change -26.11 -0.38 -25.08 1.17


GROWTH
2008 (A) 2009 (E) 2010 (E)

Norm. EPS 163.68% -49.19% 32.35%
DPS % % %

INVESTMENT RATIOS
2008 (A) 2009 (E) 2010 (E)

EBITDA 73.77m 33.47m 40.44m

EBIT 64.22m m m

Dividend Yield % % %

Dividend Cover x x x

PER 5.69x 11.20x 8.46x

PEG 0.04f -0.23f 0.26f

Net Asset Value PS 68.96p p p

quite right .... spread is now sensible and have taken a modest plunge, prob just to trade in/out

Good to have you on board cyners.

That chart says 100p plus and so does the SP of gold....


http://news.goldseek.com/GoldSeek/1243516448.php

http://www.rttnews.com/Content/ForexTopStory.aspx?Node=B3&Id=963168

http://www.reuters.com/article/hotStocksNews/idUSTRE54S0TC20090529

well young sticky, my simple mind reckons that, assuming current sp level can be held - i.e. just about through 200 dma - 60p may prove something of a hurdle

It has done in the past but resistance im sure will be murdered this time around with gold SP flying along.

Highland gold Mining hgm

Surely this time we will have a break through 60p, note how many times before its failed but this time we have a ascending triangle chart pattern supporting the case.

Slight resistance at 80p and then all the way up to 160p plus through the autumn and into next year?.

Looking hot this morning is this the breakaway???????????????????

gf
just to surprise you, i did actually buy a small quantity of these some time ago. added today, maybe a little prematurely but using money management to try to help keep me in without an overall loss. may or may not work.small and boring and adding makes for limited risk and big potential profit.
good luck to you.
regards
jkd

Up to date Broker recommendations on highland....

Highland Gold Mining Ltd

FORECASTS
2009 2010

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Investec Securities
08-09-09 BUY 19.92 0.05 41.95 0.09

Arbuthnot Securities [R]
08-09-09 NEUT 28.07 6.23 24.76 5.01

Fox Davies Capital
07-08-09 BUY 3.52 9.84

Fairfax IS
06-08-09 BUY

Alfa Bank
11-11-08 UREV

2009 2010
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 19.92 1.78 41.95 4.95
1 Month Change 0.00 -0.06 0.00 -0.18
3 Month Change 19.92 -2.64 41.95 -0.90


GROWTH
2008 (A) 2009 (E) 2010 (E)

Norm. EPS 163.68% -79.54% 178.09%
DPS % % %

INVESTMENT RATIOS
2008 (A) 2009 (E) 2010 (E)

EBITDA 73.77m 29.74m 53.70m

EBIT 64.22m m m

Dividend Yield % % %

Dividend Cover x x x

PER 8.62x 42.14x 15.15x

PEG 0.05f -0.53f 0.08f

Net Asset Value PS 68.96p p p