LGL - Lihir Gold

[chops_a_must]

Re: LHG - Lihir Gold

Could be looking at a strong breakout for LHG this morning.

 

[Freeballinginawetsuit]

Re: LHG - Lihir Gold

Could be looking at a strong breakout for LHG this morning.

And BSG.

 

[chops_a_must]

Re: LHG - Lihir Gold

And BSG

Both charts are looking good.

 

[Dr Doom]

Re: LHG - Lihir Gold

Could be looking at a strong breakout for LHG this morning.

Hey chops,
Hope so, but for some reason, gold stocks are lagging the pog lately?. Hopefully they will start to play catch-up soon, LHG my preferred goldy for both production and takeover. Should be interesting day today as LHG approaches top of channel (again!!) at $3.20, see if it can break through . Good attempt yesterday but have to be happy with the gain on the day. May retrace a bit, then resume upwards?. Buy target of $3.16.
DD

 

[Sean K]

Re: LHG - Lihir Gold

Hey chops,
Hope so, but for some reason, gold stocks are lagging the pog lately?. Hopefully they will start to play catch-up soon, LHG my preferred goldy for both production and takeover. Should be interesting day today as LHG approaches top of channel (again!!) at $3.20, see if it can break through . Good attempt yesterday but have to be happy with the gain on the day. May retrace a bit, then resume upwards?. Buy target of $3.16.
DD

I agree that if this does eventually break this very strong resistance line it could really jump. No target in mind. I think some will be switching out of NCM into this too, after their ann.

 

[chops_a_must]

Re: LHG - Lihir Gold

Hey chops,
Hope so, but for some reason, gold stocks are lagging the pog lately?. Hopefully they will start to play catch-up soon, LHG my preferred goldy for both production and takeover. Should be interesting day today as LHG approaches top of channel (again!!) at $3.20, see if it can break through . Good attempt yesterday but have to be happy with the gain on the day. May retrace a bit, then resume upwards?. Buy target of $3.16.
DD

It had a little peak at it, and then went back in its hidey hole. Volume is still good, so lets see if it can have another crack.

 

[Dr Doom]

Re: LHG - Lihir Gold

Failed again! Not sure if the sp will re-trace back below $3 again in this cycle so will wait to see where it bottoms on Monday I guess. May get caught up in the commodities sell-off. Interesting day Monday

 

[porkpie324]

Re: LHG - Lihir Gold

Did my first LHR trade made 20c closed on Thursday, will see what happens next week now. porkpie

 

[chops_a_must]

Re: LHG - Lihir Gold

Failed again! Not sure if the sp will re-trace back below $3 again in this cycle so will wait to see where it bottoms on Monday I guess. May get caught up in the commodities sell-off. Interesting day Monday

I've been impressed with its price action today. Opened on its low, and has been steadily climbing all day, against the POG. And it looks as if it's going to close on its high. Maybe another proper run at 3.20 tomorrow?

 

[chops_a_must]

Re: LHG - Lihir Gold

Why wont you budge? Lol!

 

[Jadefox]

Re: LHG - Lihir Gold

Why wont you budge? Lol!

When it finally does it should be quite spectacular - it's been moving sideways for soooo long. So far it's been profitable for traders to trade the range so until the gold price makes a clear breakout I guess that's what will
continue to happen.

 

[Jadefox]

Re: LHG - Lihir Gold

Wouldn't like to be short LHG now. If the POG can stay above $660 for several days then traders should have most of their doubts cleared about which direction the price is headed.

 

[rederob]

Re: LHG - Lihir Gold

Lihir continues to be "marked down" because of its local Victorian gold mine acquisition.
However, any continuation of higher gold prices will see the acquisition as a real positive due to the high reserves and capacity to generate ongoing substantial profits.
Lihir's PNG mine is one of the few that can reduce/contain its cash costs due to its geothermal power plant, while most others will have higher energy cost imputs.
I wonder if BHP is looking at adding gold to its list of metals?

 

[Jadefox]

Re: LHG - Lihir Gold

There may be only a small window of time to make a move on Lihir at current price levels.

 

[chops_a_must]

Re: LHG - Lihir Gold

There may be only a small window of time to make a move on Lihir at current price levels.

Yes. It looks to be breaking out right at this moment.

 

[theasxgorilla]

Re: LHG - Lihir Gold

Yes. It looks to be breaking out right at this moment.

Trading at highest prices since the 15th of May last year.

 

[Go Nuke]

Re: LHG - Lihir Gold

LHR might have broken out...but is it too late to buy into??

Its got a good track record for taking a bit of a dive after each of its previuos highs.

Im sure the merger has made the difference......but too many times Ive bought on a high only to see it come crashing down in the weeks to come.

 

[Dr Doom]

Re: LHG - Lihir Gold

I'd really like to see it go further but I've got a feeling there might be a correction in the general market looming that will drag gold stocks back a bit, in an otherwise bullish gold market. Any corrections back for LHG now are last chance opportunities, higher lows & higher highs, as long as the pog keeps going, which may falter a bit tonight?.

 

[Jadefox]

Re: LHG - Lihir Gold

One scenario might be a move to 3.40 or so then a pull back to the break out point at around 3.26. If it can establish a low on top of the old high then that would be an ideal buy or 'add to position' point.
Agree with Doom that any pullbacks are buying opportunities from here provided that the POG maintains its upward momentum.

 

[Go Nuke]

Re: LHG - Lihir Gold

Well ive set to buy at $3.23...dunno if thats a stupid idea or not, but I have this bad habit of believing that im going to miss the boat

Perhaps thats y 4/5 of my stocks are now less than what i bought them for

But from what Ive read...Lihir is reguarded as a pretty safe investment...so even if it does go a bit sour in the short term...hopefully it will pay off in the long term