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

cheers GF.

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

.

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. "

tempted to to top up, but after recent strong run, maybe weakness after results tomorrow, so would do then

I don,t know what expectations were,but this looks impressive.

Petropavlovsk EPS soars on record production
Business Financial Newswire
Russian gold miner Petropavlovsk reported a 263% increase in earnings per share to $0.98 for the year to December, which it said was driven by a record production result, cost control and a 15% increase in the average price achieved.

Underlying EBITDA was up 65% at $225m from $136m in 2008.

The group declared an interim dividend of 7p per share in January 2010 and said it planned to pay interim and final dividends in future.

Net debt at December 31 was reduced by $370m to $19m.

Total attributable gold production rose by 21% to 486,800oz, in the middle of the group's original 2009 production target range of 460,000-510,000oz.

Average price achieved was $975/oz, up from $845/oz.

Proven and probable reserves increased by 103% to 6.67Moz compared with the November 2008 estimate.

Attributable gold production for 2010 is expected to be between 670,000oz and 760,000oz.

Petropavlovsk said its total cash costs of $309/oz (2008 $319/oz) confirmed it as one of the lowest-cost gold producers in the world.

Chairman Peter Hambro said the record production figure 'demonstrates the effectiveness of our phased approach to the development of our project pipeline'.

He added, 'The production increase has coincided with gold price strength in 2009 and we are confident that we will be able to deliver our forecast production growth over the next few years.'

Story provided by Business Financial Newswire

Having a good day ,while still 100 points to go to reach previous high .Some mileage here,methinks.

while hindsight says i should have bought yesterday, am perfectly happy to have topped up this morning .... as you said, looks to have plenty of wind in its sails

The mining sector does have bad days, with quite large swings in the sp intra-day, so may be worth hanging on for a bad day, once the euphoria in the results has died down. Already 20p down from it's high today.

keep talking that way cynic..... i'm having a mental orgasm........