looks like we are going to take a break and consolidatelooks like we are going to take a break and consolidate
It could go higher but i prefer to pick up more at lower prices first
Mining
Barrick Gold goo start to impulseBarrick Gold looking bullish and continuing to move upwards. Looks like close to a wave 3 right now.
This nordic silver miner stock has underperformed bad vs silverSOTKAMO SILVER HIGHLIGHTS OF THE FIRST QUARTER 2020
Press release: Stockholm, 29 May 2020 9.45 CET
Net sales was 91 MSEK (0)
EBITDA was 8 MSEK (-11)
EBIT was -11 MSEK (-14)
Earnings per share was 0.03 SEK (-0.12)
Cash and cash equivalents were 10 MSEK (33)
Investments were 9 MSEK (88)
The production was about 391 000 ounces silver, 998 ounces gold, 462 tonnes lead, and 958 tonnes zinc in concentrates
Milled tonnes were about 129 000 and average silver head grade 110 g/tonne
Safety measurement LTIFR was 10
The renegotiated secured bond of 13.2 MEUR strengthened company’s short-term cash position
Comparative figures refer to the corresponding period of the previous year.
CEO PAUL JOHNSSON
At the end of the quarter Sotkamo Silver celebrates a year in production, but it has also been a quarter that has changed the world with the effects of COVID-19. Operationally Sotkamo Silver has not been influenced in the same way as many other industries. Our staff has so far stayed healthy and production and deliveries have been going on as planned. We processed 129,000 tonnes of ore and produced about 391,000 Oz of silver.
The silver price has however dropped from levels above 17 USD/ Oz to as low as 12 USD/Oz and at the end of the reporting period stabilizing around 15 USD /Oz, which directly effects our revenues. The market environment has been unstable, and it has become clear that the future is hard to predict.
Sotkamo Silver will continue the work that begun at the end of 2019; to optimize the production flows and seeking cost savings in order to be profitable in a world with volatile prices. We are on a positive EBITDA level but need to work harder to obtain a positive EBIT as well.
The rights issue initiated during the first quarter was a success and was oversubscribed once completed in May. The funds raised from the issue will be welcome as cash reserve in these unstable times and will give a foundation for prolonging the life of mine.
Mining on The Run - GPL Looks Good AgainI invested in GPL as it was an essential mining company for precious metals. Considering the price of precious metals are skyrocketing, so are the mining companies stocks. Great Panther silver has recently turned from a down trend to an uptrend. Just waiting on a retest of a trendline or a fib level before I sell some indecisive stocks and place them on GPL.
Lundin Gold INC to test 89 SEK resistance in 2020?Supported by higher gold prices I am beginning to believe that Lundin Gold Inc (LUG) will retest the resistance at 89 SEK within 2020.
A new trend seems to be forming based on the June low and recent July low.
I am placing my stop loss below the June low at 73 SEK. This is well below the new trend, leaving plenty of room for price variation.
Lundin gold, being a gold producer is obviously highly correlated with the price of gold. Initial price target is 89 SEK but subject to revision should the price of gold stabilize itself above 1800 USD per ounce.
Small trade on RVN, good supportRVN is one of the best criptos for small miners at the moment, paying them (me as well) better hashrates then ever.
Now it´s a good opportunity to buy and hold the coin, buy on the Orange and Red support lines for a possible short term 24% profit or hold it for the future and who knows where can it go.
BHP Group $BHP "Cup"It is forming a cup and $38.04 is the confirmation for the pattern.
12 months Consensus Price Target: $60
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Thx
Inverted Head & Shoulders BreakoutJSE:AGL has broken through the neckline of an inverted Head & Shoulders pattern and if it plays out, we could be looking at a nice target around the 60 000 level. I will proceed with caution, however, as the neckline is at a very strong level of resistance and may struggle to convincingly break through.
BEAM, where are privacy coins going this YEAR?2X??FA:
Mineable Coin
Privacy coins are going through a make or break year in terms of regulatory terms
Making strong progress in terms of Mainnet, Wallet development and introduction of Atomic Swaps
Venture Capitalist Backed Funding (Sell Pressure at highs)
TA:
FIb Retracement shows we can expect further upward movement and then some downward pressure
We can use the retrace to buy in LONG or enter it as a breakout trade
If it leaves this channel then we will be bearish
Has a Bullish Flag Pennant, therefore we can expect a strong pump if it holds
However, it is a wide bullish flag, suggesting that sellers do not wait to sell at highs, which is not good to see when investing in something long term
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-Megalodon Whales (Rahim)
BINANCE:BEAMBTC BINANCE:BEAMUSDT BINANCE:BEAMUSD
Stay safe, this is not financial advice btw :p
Bitcoin ChinaI have updated the values of the bitcoin production cost indicator for the Chinese province of Sichuan (35% of hashrate share) where the cost of electric current does not exceed 1 cent per kilowatt hour. For a miner located in this Chinese province the cost to produce a whole bitcoin does not exceed 4000 dollars, this price falls within the support area of my kama bands on the monthly chart.
I believe that if this fall there will be a second wave of the virus combined with a new lockdown there could be panic in the markets again. Personally, I'm going to increase my bullish position by buying in the $2,500 / $4,000 price range.
RocketshipThis microcap mining ETF is clearly on fire. I'm late to the party but I think I'm getting in. Most of its big holdings are small miners that are on foreign exchanges. It's a good time to be in gold anyhow.
Go Long Newcrest Mining. $NCMWe broke out of the downtrend today, I do think the price will fall in the next few days (profit taking) and then continue to go higher.
Why?
Because Newcrest is forming a very nice inverse head and shoulder pattern.
Technical indicators such as moving averages, MACD, RSI, and DMI are looking good and on the bull's side.
Furthermore, Silver and Gold prices are likely to continue going higher in the short-medium term because of central banks' actions.
I am holding this stock and will look to buy more for the short-medium term.
Trend reversal? Targets ST 3.64p/5.6p MT- 8.48p LT - 15pAfter seller exhaustion comes the bulls and I believe we are very close of a turn here which will take us to 3.64p-5.6p with right news.
I believe seller should be or is out as bulls come in.
Permit should be coming any day now after xmas holidays.
Gap to fill at 5.6-5.8p!
Medium term I can see us touching 8.48p
Long term 15p
copper price doing well as of late
BoD have also skin in the game & ASIPAC having a considerable amount invested in the business.
Long in $Gold $XAUUSD & Ariana #AAU Target 1775 / 4p-6.2pGold breakout & looking fantastic, next level I see is 1775
I'm a big holder of Ariana Resources AAU & have targets of 4p or 6.2p upon JV news within next 5 weeks.
Costs for mining are extremely at low level - $500
Look for gold producers with attractive ASIC!!
Newmont All Time Highs???Looking at the historic chart data and recent price
spike & pullback it looks like all the bagholders from
2011 hights have sold out...well the ones that wanted to sell out anyway. from the recent pullbacks, it looks like we will see all-time highs from this point especially with gold on route to all-time highs
What do you think???
GXY - 29 MONTH DOWNTREND BROKEN!!!GALAXY RESOURCES (ASX:GXY) Has been locked in a fierce downtrend since Dec 2017 but has just broken out!! Targets As Below.
1. Break of long term downtrend and Volume returning to the market will see GXY build new Market Structure and Create Uptrend Potential.
-Break 29 month Downtrend
-Buying volume returning to the market
-MACD spreading on Weekly and holding on Daily
-RSI Trending up through Neutral Territory
-EMA 20/50 are about to cross signaling trend reversal
-Broken .236 Fib Retracement
-Double Bottom at $0.705
-Targets .5, .618, .786 Fib Retracement (Also Equilibrium Levels)
2. Bull Trap Fakeout completes and prices squeezes into downward triangle corner, breaking 0.705 Support and sinking to 2015 NOV price.
-Bulltrap
-Double top off Equilibrium at 0.845
-MACD Cross and Spread
-Crack 0.705 Support
-Nothing to hold it until 0.465
-EMA's bounce and do not cross
GXY and the Lithium Sector has been plagued by downward price action since false news of Global Over Supply was promoted in DEC 2017. Is the Sector finally about to turn the corner??
These Ideas are NOT 'Financial Advice'!. Scenarios are based off a mixture of TA and Fundamentals current at the time. All IMO GLTAH. Happy Hunting!!!
Bacanora Upside Move??Purely Speculative
I think there is more upside risk than downside risk looking at recent moves it looks to me like it is at the beginning of an uptrend looking to retest the resistance level again hopefully it will break through if momentum builds on the way up.
What do you think??? let me know
Interesante bandera de teórica resolución al alzaSe puede apreciar que el activo formó una bandera de teórica resolución al alza, también vemos que viene respetando la base el desdoble del canal propuesto en una idea anterior (linea de puntos Verde) con transgresiones temporales de la linea de tendencia bajista (linea Negra) quebrada la cual actuó como disparador
del interés en el papel. muy correlacionado al comportamiento del oro, principal actividad económica de la empresa y tambien con otras empresas de sector (barrick gold, harmony gold). sigue vigente la hipotesis de que sea la wma de 30 semanas la que busque al precio
