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

cheers GF.

thought you could try out your three screens lol

.

POG's decision to hedge almost 50% of 2013/14 production at $1663 per oz looks like a great move as gold price continues to fall.

Pretty close to the lows of late 2008. Hopefully, this support level is as low as it will go.
However,having said that, the outlook for gold at the moment isn't very glittering !

Pog is looking as sad as my Kaz sninners.... looks like a bad call.,.

bb if you care to look at their numbers... 400k oz @$1663 and compare with the market cap they are a steal.

Chart says otherwise and I aint gonna argue with the market.

My fault for 'mixing' my 2 taboo sectors - miners & gold!

True I blame you too.,.

Citigroup Sell 191.45 274.00 141.00 Downgrades

Just when it looked like it couldn't get much worse - it just did

RBC comment today:
"Majority of our coverage is currently net cash – The majority of companies in our coverage are cash positive with little or no gearing. Exceptions are Petropavlovsk, which carries the highest gearing at 82.5% (YE2013E), Polymetal also being net debt following a period of heavy capital expenditure, and Highland Gold, which has recently acquired Kekura deposit for US$211m using debt.
Most companies robust at US$1,400/oz gold – Based on our analysis most companies should be able to continue to operate and advance their current capex projects at US$1,400/oz although Teranga, Avocet, Petropavlovsk and Centerra could turn FCF negative at times between 2013-2015E. Producers which should fare better are ones with the lowest all-in sustaning cash costs, such as Centamin, Randgold, Polymetal and Fresnillo, all having all-in sustaining cash cost per ounce of less than US$900/oz. By contrast, ABG, Centerra and Avocet are all above US$1,200/oz by this measure.
Capital projects and exploration under threat at US$1,200/oz – Should gold pull back to US$1,200/oz level we believe that a number of miners would have to re think their capital investment plans, as well as exploration budgets to preserve liquidity and keep current operations afloat. The most vulnerable under this scenario would be Avocet, Centerra, Petropavlovsk and Teranga.
With gold equities down 30% on average YTD to Friday underperforming the metal (-14% YTD), we believe that there is value amongst the equities. However, until gold finds a level, the equities are likely to remain under pressure. Based on the strength of cash generation and balance sheet stability, we recommend investors who need to be positioned in golds to focus on Fresnillo, Randgold and Centamin as these companies are best insulated against the lower gold prices due to a combination of low all-in sustaining costs and strong balance sheets."

thats made my day good.... :((

Sorry Bb, but here's more, this time from Cazenove:
"In the last two days POG’s shares have slumped 28% as gold has fallen to a 25 month low. Our stress tests imply fears for POG’s US$1.1bn net debt appear warranted; we estimate if spot US$1,364/oz gold is the “new normal” POG is likely to breach loan covenants by end 2013. We also calculate a US$340m funding gap for POG’s US$380m 2015 convertible at spot. A positive outcome for POG now looks binary on a gold price recovery. However we do not believe gold’s positive investment case has fundamentally changed and with liquidity concerns reversed at just 9% higher gold prices we retain our high-risk high-reward OW recommendation, albeit with a lower end ‘13E PT of 420p (460p) based on a 15% reduction in our FY14E EBITDA estimate.
Loan covenants are at risk at current gold price: If US$1,380/oz spot persists, we forecast POG will record 3.4/5.3x net debt/EBITDA in 2013/14, thereby breaching its 3.5x covenant. We estimate gold will need to average over US$1,400/oz for the remainder of 2013 and exceed US$1,500/oz in 2014 to avoid breaching covenants.
US$380m convertible an emerging tail risk: POG reported US$159m cash at YE’12 and its next major debt maturity is its US$380m convertible due in Feb’15. At US$1,380/oz we forecast a US$340m funding gap in Feb’15, but we understand POG has US$150m of undrawn loan facilities from Russian banks which could ameliorate refinancing risk.
Perfect storm of balance sheet, gold price and technical risk: POG’s shares have been dominated for the last 2 years by concerns over potential ramp-up delays for its US$380m POX plant due for Q1’14 commissioning. A positive outcome for POG’s shares and its liquidity now appears binary on gold price recovery, but the severity of gold’s 13% two day collapse resembles an extreme capitulation to us.
Adjusting EPS on mark-to-market for Q1: we have lowered our FY13/14E EPS estimates for POG by 50/15% on (i) marking to market Q1’13 actual gold prices, and (ii) increasing unit cost estimates based on guidance from the FY12 results presentation. However our NPV increases by 16% from to 319p as we increase our LT gold price assumption from $1,300/oz to $1,500/oz, in-line with JPM commodity team’s recent upgrade.

Not sure if the above note takes into consideration the 50% production hedge at $1663/oz.

Harry is JPMC target price still 420p?

16th April Nomura says reduce, opt 240p, npt 125p.
16th April JPMCaz says overweight opt 460p, npt 420p.

Not sure if I have much faith in either of them!

Harry we would take the average!

I bought a few more in the 30's yesterday - I guess that makes me a 'holder' now!