LGL - Lihir Gold

[Sean K]

Re: LHG - Lihir Gold

i jumped ship yesterday at 3.20 on cfd, thought gold had a nice gain and would consolidate, didnt expect lhg to run like it did today but now think pog is confirming my sale, should be able to get back in at a lower price in next couple days.

Good move, looks like gold taking a break in line with $US recovery. Wonder how long that will last? LHG should come off accordingly too, unless the punters are still very optomistic the gold bull is back. Some might think this a buying opportunity.

 

[coyotte]

Re: LHG - Lihir Gold

POG ,HUI, XAU, TSX, and GOX all UP !

LIHR 3 consecertive days with a LOWER CLOSE !

 

[Sean K]

Re: LHG - Lihir Gold

POG ,HUI, XAU, TSX, and GOX all UP !

LIHR 3 consecertive days with a LOWER CLOSE !

Had a good run the past month Coyotte. Just consolidating imo. Still reliant on gold.

My Kitco chart has gold going down the past 3 trading days?? Those 3 days maybe coincide with LHG dropping... Gold only recovered a bit last night.

Here is the 3 days before last night:

 

[vert]

Re: LHG - Lihir Gold

back in close yesterday, paying off nicely now 3.17. gold has had a little sell off now going for break off 650 and then 700 by christmas, thats my call anyway.

 

[Sean K]

Re: LHG - Lihir Gold

back in close yesterday, paying off nicely now 3.17. gold has had a little sell off now going for break off 650 and then 700 by christmas, thats my call anyway.

Well, I'll hold you to that. I'm tipping $650. Whoever is closer is owed a beer for every dollar closer!

 

[vert]

Re: LHG - Lihir Gold

your on!

 

[justjohn]

Re: LHG - Lihir Gold

starting to look value at $3 :

 

[coyotte]

Re: LHG - Lihir Gold

it will be better value at 2.92 ( gap filled )

Cheers

 

[Sean K]

Re: LHG - Lihir Gold

$3.00 turning into very good support. Might not get it under that in the near future. Pending surprises.

 

[Dr Doom]

Re: LHG - Lihir Gold

Something about to happen with LHG?. Solid support today on good volume in light of pullback in POG. An attractive takeover target again??

 

[Sean K]

Re: LHG - Lihir Gold

Something about to happen with LHG?. Solid support today on good volume in light of pullback in POG. An attractive takeover target again??

I was thinking the same thing Doom. 10 mil shares traded and the stock holding up on an $11 slide in POG. The stock was up a percent this am....Extremely unusual for LHG, it normally tracks POG. Not sure about a takeover though due to the BGF thingy. Makes it look less attractive to me.

 

[Dr Doom]

Re: LHG - Lihir Gold

kennas, I reckon the BGF merger is a big positive as it spreads the risk around, LHG will not be a one mine entity anymore. Any costs will be well and truly absorbed with the coming gold price appreciation.
If anything, it makes it more attractive as a takeover target as any suitor will get 2 mines without any of the paperwork etc.
LHG is showing solid support around $3.00, as is the gold price around $615. I am getting a strange feeling that something is going to happen soon that will put a rocket under the POG. Get set and hold on for the ride

 

[Sean K]

Re: LHG - Lihir Gold

kennas, I reckon the BGF merger is a big positive as it spreads the risk around, LHG will not be a one mine entity anymore. Any costs will be well and truly absorbed with the coming gold price appreciation.
If anything, it makes it more attractive as a takeover target as any suitor will get 2 mines without any of the paperwork etc.
LHG is showing solid support around $3.00, as is the gold price around $615. I am getting a strange feeling that something is going to happen soon that will put a rocket under the POG. Get set and hold on for the ride

I'll be topping up on this if POG does make it's way back over $640. That has been my trigger for a while. It didn't hold above long enough last push....

 

[Dr Doom]

Re: LHG - Lihir Gold

Looks like a false breakout (again ). Although it could be oversold a bit as POG is back past $625 tonight, so if it holds this session we could see LHG make a comeback on Monday. Back to the bottom of the channel. Next attempt at $3.25 should be interesting.

 

[chops_a_must]

Re: LHG - Lihir Gold

Anyone else seriously considering shorting this one tomorrow?

 

[coyotte]

Re: LHG - Lihir Gold

Anyone else seriously considering shorting this one tomorrow?

After the 3.16 gap is filled

Closed my SHORT @ the 2.92 Gap
see post 188

Cheers

 

[Sean K]

Re: LHG - Lihir Gold

Anyone else seriously considering shorting this one tomorrow?

I have, but I think I will wait to see how POG responds to the $600 mark. Some traders might see this as a buying opportunity. Maybe. If it breaks $600 then LHG will be vulnerable of course. Will open gap down Monday, but I'm not sure if it will continue to slide after that. Might depend how POG opens in Asia??

 

[chops_a_must]

Re: LHG - Lihir Gold

After the 3.16 gap is filled

Closed my SHORT @ the 2.92 Gap
see post 188

Cheers

Still might go further though. Lower gold price and the SP not anywhere near clear support.

 

[Dr Doom]

Re: LHG - Lihir Gold

Might be a case of the baby getting thrown out with the bathwater? Funds getting confused & putting gold in the commodities basket (case?). The fundamentals are still there, looking for a dip to 2.78 (long tail day?) then bounce back on Monday.

 

[Sean K]

Re: LHG - Lihir Gold

Still might go further though. Lower gold price and the SP not anywhere near clear support.

There's some POG spt at $600 and LHG has hit 200 d ma and also approaching some upward support line. Not much though. SO, I think they are related to some degree. Perhaps I'm just seeing what I want. (holding - last bought in around $2.75)