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

cheers GF.

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From the current Shares Mag:
"Gold suffered its biggest one-day price drop in 14 months last week (4 Feb) but Shares believes the precious metal has limited downside from here.
Investors should use the weakness to buy gold mining stocks such as Petropavlovsk (POG) which is trading at a four-month low of 877p. Gold fell by 4.4% to below $1,060 per ounce as equity markets stumbled and the dollar rose. The dollar, which throughout 2009 tended to move in the opposite direction to the gold price, was pushed up by a weaker euro as markets worried about the financial state of Greece, Spain and Portugal. Against this catalyst, rising jobless claims in the US was taken by some to mean the country's economic recovery could take longer than expected which could halt the rising US dollar and favour gold.
Petropavlovsk is forecast to produce between 670,000 and 760,000 ounces of gold in 2010. It has $456 million cash, a significant number of growth projects and will recommence dividends this year. (DC)"
(THE WRITER HOLDS SHARES IN PETROPAVLOVSK)

POG goes ex-divi 24th feb '10.

There seems to be a change from the negative stance toward POG.,and about time too. Black Rock have also increased their stake to some 13%

From FT blog site this morning, flagged as rumour only:
POG - THEY COULD INCREASE THE JORC.
"Firstly, this should be seen as a +POG LN / -RRS LN, these two have become complete natural price parallels.. - POG LN (BUY) Increased speculation that POG will increase the Jorc Reserve when they announce their figs are announced 25th March. Those that don't know, the 'Jorc' is the audited amount of gold reserves held & we are hearing that it will increase massively. - Needless to say, this will contribute to close the 19% discount to RRS built up over the last 4 mths, whilst POG is also paying 7p div (generous for a gold co) on the 25th Feb. For a hedged, 1 month view, this is self funding."

regardless of that rather worthless bit of info - not your fault harry - i still reckon POG is a damn good outfit, though it has tiresomely underperformed for a while

got in too early and suffering the wait for recovery..

tempted to buy some more, but i'm nervous as to what the markets will do over the coming days/weeks - they're even more unpredictable than usual

don't know why surge in sp any more than i understood its drop from favour over recent weeks ..... nevertheless, simple chart shows good breakout IF it can be maintained

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Broker note from Canaccord today:
"We are reinforcing our BUY recommendation on Petropavlovsk, not on the basis of the expected result, but more on the basis of an expected US$1,300/oz gold price peak this year and an average gold price of US$1,250/oz. We have demonstrated the strong correlation between moves in the gold price and the price of Petropavlovsk shares before (see Daily Letter, 3 December 2009.
Our analysis suggests the stock is fairly priced for the current gold price at US$1,105/oz. At this price our NAV is 10.80/share. However, at US$1,300/oz our NAV stands at 15.23/share.
More importantly, a 30% erosion of Petropavlovsks current discount versus its peer group would suggest a fair market price in the range of 15-16/share.
We think this potential re-rating provides investors in Petropavlovsk with an additional growth vector beyond the more general gold price driver behind most other gold investments."

it's strange that none of them mention POG's iron ore interests

,Mr. C ..,,Have a look at Barrick Corps floating off their African gold prospects - African Barrick Gold . lt .ls believed to be floated off within the 550/650p price range which is calculated to be at a 40% discount to POG. ..l already own a shedfull of POG and added recently.............HGM looks a solid play also -thus making up my trio of gold plays

i currently find myself torn between greed and prudence (yeah, yeah - and her sister sibyl!) and in fact i top-sliced POG yesterday

on the positive side, the markets currently have the wind in their sails
on the negative side, the markets are looking o'bought and with budget + election, which i am sorry to say will still leave "shit brown" in the chair, a sizeable correction must surely be on the cards

got a feeling you shouldn't have sold your POG cynic, on the rise still......i hope as i got in too soon and am nearly at break even..

a profit banked is a true profit made!
i'm sure i'll come back in and ditto with RIO, but timing is everything - and like all of us, i usually get it totally wrong!

SP seem to like the new funding, think i'll hang on for the ride..

i actually bought back in earlier .... in the money, but not hugely, but shan't grizzle either

good for you, lets hope brokers 15 is next.

Recent gold price falls (just below $1100) have now reached support line for the yellow stuff.It is also close to the 200 day moving average. As it has been above this 200 day average for a year now, this is a critical point. Most analyst views that I have seen, however, look to be very positive,though not necessarily in the short term, although ,the weaker dollar should lend support.

Note out from Fairfax today:
"$400m to $500m K&S project finance agreed with ICBC and CNEEC, substantial Chinese state-owned groups.
The deal is a co-operative agreement which presumably gives the iron ore offtake agreement to the Chinese in return for access to relatively low cost capital of substantial scale.
Note: the company does not appear to be giving up a stake in the company, the project or the license away in this remarkable deal.
The loan is repayable over 10 years, presumably from the date of final commissioning. Interest is something like 4% over the base interest rate agreed on.
CNEEC will provide engineering expertise, procurement and EPC contractors. Eg the project will be built by Chinese contractors. This should ensure the rapid construction of the mine which lies relatively close to the boarder with China.
Production is scheduled to start in 2013 at 10mtpa to yield some 3.2mtpa of 65% iron ore concentrate. The start date is a year later than originally modeled but new certainty in the construction of the project should add to its value.
The statement indicates that the entire 3.2mtpa of product will be sold in concentrate form. We previously assumed we would sell 1.9mtpa as pig iron with only 1.2mtpa as iron ore concentrate.
Conclusion: Petropavlovsk report FY 2009 results tomorrow. We expect the results to impress investors despite the hard Russian winter experienced this year. Gold production has risen substantially and the company should now produce more gold than its London peer, Randgold Resources. New confidence in the production of iron ore from the K&S project adds substantial value to the company in our view. "