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

cheers GF.

i too am out for now, having sold at 420 some time this morning for a small but nevertheless welcome profit

Back to 390p at close thats a lucky escape for me..!

Let me know when you buy in again.

why on earth would you trust anything i do?

i got out at 420 because gold price had dropped quite a lot and POG had had a good run so no immediate reason for it to keep going north

I dont trust anyone cynic.

Statement re Possible Offer

"Aricom plc ('Aricom' or the 'Company') notes the recent share price movement and confirms that it is in preliminary discussions with Peter Hambro Mining Plc ('Peter Hambro') which may or may not lead to an all share offer being made for the Company at a substantial premium to the current share price.

There is no certainty that any offer will be forthcoming. A further announcement will be made in due course as appropriate."

POG spiked to 440p on the news.

Peter Hambro Mining - statement regarding possible offer for Aricom

Peter Hambro Mining Plc ('Peter Hambro Mining') notes the announcement made today by Aricom plc ('Aricom') confirming that it is in preliminary discussions with Peter Hambro Mining which may or may not lead to an all share offer being made by Peter Hambro Mining for Aricom.

Peter Hambro Mining confirms that it is in preliminary discussions with Aricom regarding a possible offer by Peter Hambro Mining for the entire issued share capital of Aricom. The consideration for any such offer would comprise shares in Peter Hambro Mining. The discussions are at a very preliminary stage and there is no certainty that any offer will be made or, if such an offer is forthcoming, the terms of such offer."

I think I am correct in saying that POG is run by the father & ORE is run by the son.
Smoke & mirrors spring to mind!!!

Correct Harry.

Down 20p at 360p the market is a bad mood right now .

Bought back in again on the SP of gold rising and looking very strong with currencies looking weak and recession hitting the UK and the rest of the world.

Recent broker recos-

Peter Hambro Mining PLC

FORECASTS
2008 2009

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


Investec Securities
20-01-09 BUY 48.92 39.94 17.84 85.83 70.06 17.84

Arbuthnot Securities
21-01-09 NEUT 55.14 47.57 7.49 121.89 99.17 7.49

Worth waiting to see what happens with the ORE deal, imo. If ORE shares become POG shares, the ratio will be critical. POG then becomes an iron ore producer, which in today's market is not great news, but when Far Eastern economies pick up again, will stand POG in good stead.

Rising sp of gold should underpin sp for a while not forgetting its one of the lowest cost producers around.

Gold moving up very strongly....

http://www.kitco.com/images/live/gold.gif

http://www.reuters.com/article/marketsNews/idAFLN4501620090123?rpc=44

Ideally set up for monday now.

Gold gone over $900..

http://www.bloomberg.com/apps/news?pid=20601012&sid=aNEEeJPVd7uc&refer=commodities

Author: Dorothy Kosich 12 Jan 2009

RENO, NV -

CIBC World Markets has increased its 2009 gold price prediction from $900/oz to $950/oz and introduced a 2010 gold price of $1,050/oz.

In a recent report, CIBC metals analysts Barry Cooper, Brian Quast, and Cosmos Chin said, We further expect pure gold plays will outperform gold/base metal mixed plays in the current environment especially since the latter has not suffered full adjustments to the lower pricing regime for copper and zinc."

The analysts asserted that gold equities are 40% undervalued relative to trading levels in the first six months of 2008.

"The events of 2008 should have pushed gold to higher levels than $1,000/oz in our opinion," the analysts said, citing the collapse of Fannie Mae and Freddie Mac, multiple bank failures, $50 billion in swindles, the collapse of the Big 3 automakers, and the downfall of the housing market. Instead, they noted, gold performed as "what every insurance policy does; it maintained the owner's wealth and certainly outperformed all other commodities during the crisis."

Suggesting that recession "hollow" will last two years, the analysts forecast that gold will also show strength for those two years. "It is our contention that regardless of the economic conditions, it is the uncertainty factor that drives gold's appeal," they said. "That uncertainty factor we believe is at an all-time high and unlikely to dissipate in 2009."

Gold Climbs to Three-Week High as Fund Demand Reaches Record

By Nicholas Larkin and Stuart Wallace

Jan. 23 (Bloomberg) -- Gold advanced to a three-week high in London as investors increased holdings of the metal on concern the global recession will deepen.

Assets in the SPDR Gold Trust, the worlds biggest exchange- traded fund backed by bullion, expanded 1.6 percent to a record 819.11 metric tons, according to the companys Web site. Stocks fell across Asia and Europe today, following declines in the U.S. The U.K. government confirmed the country is in a recession as the economy in the fourth quarter shrank the most since 1980.

Given the ongoing deterioration of the global economies and declining risk appetite of investors we anticipate further safe-haven related inflows through the ETFs, James Moore, an analyst at TheBullionDesk.com in London, wrote today in a note.

Gold for immediate delivery climbed as much as $22.65, or 2.6 percent, to $879.65 an ounce and traded at $875.56 as of 11:50 a.m. in London. The metal has advanced 3.8 percent this week. February futures rose $17, or 2 percent, to $875.80 in electronic trading on the Comex division of the New York Mercantile Exchange.

The metal rose to $873 an ounce in the morning fixing in London, used by some mining companies to sell production, from $860 at yesterdays afternoon fixing. The commodity is now little changed this year after sliding as much as 9 percent.

The SPDR holdings are equal to about four months of global mine production. Bullion held in exchange-traded funds climbed to a record 1,190 tons last year, the World Gold Council said on Jan. 20.


Investment demand is the most important factor in the gold market at the moment, UBS AG analyst John Reade said today in a note. Over the past year, ETF inflows have accompanied this strong physical investment demand and even in spite of the strength of the U.S. dollar, we see no reason for this to change.

Europes manufacturing and service industries contracted for an eighth month in January. Initial claims for unemployment benefits matched a 26-year high in the U.S. last week, while housing starts slumped to a record in December.

Despite the stronger dollar, which should be negative for gold, the strong investment demand is the main factor, said Eliane Tanner, an analyst at Credit Suisse Group in Zurich. There is a risk from the stronger dollar over the short term that could trigger some selling.

Weak Pound

The dollar gained as much as 1.5 percent against a basket of six major currencies. Gold typically moves in the opposite direction to the greenback. Still, a stronger dollar benefited investors holding gold in sterling and euros. Bullion reached a record 648.48 pounds today and touched a three-month high of 687.50 euros.

ING Groep NV raised its 2009 forecast for gold to $800, from $750 previously. The silver estimate increased to $11 an ounce, from $10.50, while the platinum outlook strengthened to $900 an ounce from $850.

Silver for immediate delivery rose 1.5 percent to $11.58 an ounce today in London, platinum added $2.75, or 0.3 percent, to $931.25 an ounce and palladium retreated $1, or 0.5 percent, to $184.25 an ounce.

To contact the reporter on this story: Stuart Wallace in London at swallace6@bloomberg.net; Nicholas Larkin in London at nlarkin1@bloomberg.net

Last Updated: January 23, 2009 07:19 EST