BSG - Bolnisi Gold

[Sean K]

Come on, may be just a tiny attack where no one gets hurt do you think that a weakening $US will balance a moderate correction or is this a stupid way of looking at it?

Some sectors always do better in a correction of course. There's usually a flight to quality in defensives like consumer staples. Australia companies that get their profits in $US would be weakened, especially if they were growth companies relying on low interest rates. So, in theory, it should be a case by case basis but the markets work in mysterious ways. If the world starts caving in led by the US, then gold should go ok, but maybe only in comparison to other sectors. Safest place for your money would be in the 'Buykennasayacht Diversified Super Fund' which is highly recommended by Lonsec and gets five starts from Morningstar.

 

[new girl]

Some sectors always do better in a correction of course. There's usually a flight to quality in defensives like consumer staples. Australia companies that get their profits in $US would be weakened, especially if they were growth companies relying on low interest rates. So, in theory, it should be a case by case basis but the markets work in mysterious ways. If the world starts caving in led by the US, then gold should go ok, but maybe only in comparison to other sectors. Safest place for your money would be in the 'Buykennasayacht Diversified Super Fund' which is highly recommended by Lonsec and gets five starts from Morningstar.

You're asking me to invest my super in your superfund? Well, only if it's six stars or more and only if I get to keep the Yacht during summer (you can have it for the rest of the year of course and since it's your super fund you also get to choose a name for it).

It was a stupid question. Here I am thinking that only GOD works in mysterious ways. So in light of what you said above, how safe is BSG? and CTO for that matter? or is it simply that no one really knows?

 

[Sean K]

You're asking me to invest my super in your superfund? Well, only if it's six stars or more and only if I get to keep the Yacht during summer (you can have it for the rest of the year of course and since it's your super fund you also get to choose a name for it).

It was a stupid question. Here I am thinking that only GOD works in mysterious ways. So in light of what you said above, how safe is BSG? and CTO for that matter? or is it simply that no one really knows?

Short term it's very hard to say which way things are going really. I can not say either way with gold atm because there's no definate short term trend in the POG. But long term gold could reach $1000 + (as many are claiming) so these unhedged companies about to produce should be good investments. I'm only holding gold and uranium and a couple of long termers at the moment.

The boat is to be named Zinfandel.

 

[new girl]

Short term it's very hard to say which way things are going really. I can not say either way with gold atm because there's no definate short term trend in the POG. But long term gold could reach $1000 + (as many are claiming) so these unhedged companies about to produce should be good investments. I'm only holding gold and uranium and a couple of long termers at the moment.

The boat is to be named Zinfandel.

That's all I wanted to hear, thank you.

Well, I got rid of most of my shares except those two. I also kept EPG and LEG (which is due for an announcement soon and I'll sell straight after). My broker doesn't stop talking about EPG.

Zinfandel I don't get it, please explain.

 

[Sean K]

That's all I wanted to hear, thank you.

Well, I got rid of most of my shares except those two. I also kept EPG and LEG (which is due for an announcement soon and I'll sell straight after). My broker doesn't stop talking about EPG.

Zinfandel I don't get it, please explain.

Zinfandel is a type of grape, grown commonly in California. Produces extremely full bodied red wine. Bigger than Shiraz with a very high alcohol content. Up to 17%. It's like drinking brackberry juice. Yum yum.

Back to BSG, I've just changed the indicators in the chart and I would expect a pullback shortly just on these. Moved up out of the BB, MACD diverged and now I see a hint of convergence, Stochastics overbought, and it's moved along way away from the 200 ma. All indicating a pull back to some degree. Just probabilities though, and lagging time of course.

Notice the similatities between now and the last few tops and pullbacks.

 

[new girl]

Zinfandel is a type of grape, grown commonly in California.

You should name it Rach and surprise her (great name by the way).

 

[Sean K]

Great finish for the week. Up 10% when POG and other resources went pear shaped.

 

[zed327]

Sonray are saying there is rumour of Canadian interest in bsg. Bring it on!!!!!!

 

[Sean K]

Reading through their AGM presentation this morning I found some potential upside with the 'iminent' release of a resource estimate for La Patria which has had some great drill results. This should increase their overall resource estimate to over 4m oz Au equiv maybe. Looking forward to that!

 

[new girl]

Although there was no boat waiting for me at the end of this AGM, I walked out very impressed with the presentation. Very professional group of people!

When asked about possible sale of Palmarejo mine, the Chairman replied by saying that for tax reasons, the only way they would allow this to happen is if Bolnisi itself got taken over and that the company is constantly approached to do so.

 

[Sean K]

BSG mentioned in the Fin again this am as a possible takeover mostly due to Palmajero with the TSX entity up 10% Monday. Big jump.

Outstanding 2 year weekly chart. Consolidation over the last few months but recently broken out extremely well. MACD looking great. Looks a little overbought at the moment but should find very good support at previous resistance and will be a buying opportunity if it approaches that level again IMO.

 

[zed327]

It will be interesting to see if it holds at this price. A rescource upgrade would help. A nice healthy takeover offer would make my xmas hamper look very nice. I like to dream a lot.

 

[Sean K]

It will be interesting to see if it holds at this price. A rescource upgrade would help. A nice healthy takeover offer would make my xmas hamper look very nice. I like to dream a lot.

Two very likely scenarios Zed. I expect the La Patria estimate to be out in the next week or so, increasing their overall resource in the region and with this turning producer next year, there must be many a big gold miner looking at this as a good bolt on.

 

[Out Too Soon]

So much can change so quickly! What on earth happened today, I was away & rxed a SMS alert that Bolnisi sp is in free fall.

 

[scsl]

So much can change so quickly! What on earth happened today, I was away & rxed a SMS alert that Bolnisi sp is in free fall.

Yeah, BSG's 5% slide (at one stage 9%) in sp stood out in comparison to LHG and NCM, which rose 4% and 5% respectively. And on a great day for the market in general, which was up 1.2%. I think we can put it down to good old profit-taking.

If BSG finds support at about the $3.00 level kennas showed on his chart, I will be buying.

 

[Sean K]

Yeah, BSG's 5% slide (at one stage 9%) in sp stood out in comparison to LHG and NCM, which rose 4% and 5% respectively. And on a great day for the market in general, which was up 1.2%. I think we can put it down to good old profit-taking.

If BSG finds support at about the $3.00 level kennas showed on his chart, I will be buying.

Agree, profit taking. Had a great run since breaking resistance at $2.70 (my entry, he he ) and then all time high $3.00. People may have been switching into NCM or LHG or others.

Yesterday high $3.43 and low $3.04 must have been scary to watch. I was out all afternoon on a pub crawl through Port Melbourne and St Kilda so missed it. Sore head...

 

[Sean K]

BSG just having a rest I think from the recent great run. Should find support at the old all time high around $3.00. Looking at the indicators: BB, MACD, Stochastics into the overbought area - can only continue up in that zone for so long. Now slow stachastics moving into oversold at the time when the sp reaching support line which may support a bounce back up. Still trending well up, in the zone. Would have to break about $2.70 to be on the way down again, pending other factors. Will be interesting to see how it responds to the $3.00 level. Still need POG and POS to keep going up to I suppose.

Fundamentals no change.

 

[new girl]

BSG just having a rest I think from the recent great run. Should find support at the old all time high around $3.00. Looking at the indicators: BB, MACD, Stochastics into the overbought area - can only continue up in that zone for so long. Now slow stachastics moving into oversold at the time when the sp reaching support line which may support a bounce back up. Still trending well up, in the zone. Would have to break about $2.70 to be on the way down again, pending other factors. Will be interesting to see how it responds to the $3.00 level. Still need POG and POS to keep going up to I suppose.

Fundamentals no change.

Thank you kennas for taking the time.

 

[Sean K]

I imagine the stochastics indicate this is oversold now and hitting $3.00 support line. Probably should bounce off this, but who knows..Those two bottom support trend lines should help.

 

[vert]

i think a few stops got taken out this am, in bargain teritory now with silver reversing nicely last night from 13.42 to 13.89. bought back in yesterday 3.02 should have waited oh well still happy to be in as this has huge potetial with drilling finding richer and deeper grades and is being assessed by larger preditors.