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PRU - Perseus Mining

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aus_trader said:
Looks good at the moment. A breakout above 70c could also be interesting...
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Getting close to that 70c breakout zone. Still held to the POG probably but they have lots of cash, about to start a new mine and have survived the W Africa shenanigans. Forecasting 260-300 oz at $800-975 costs next FY. Gold at $1400, but they're locked in to under $1300 I think. So, they're making $400ish an ounce. A break through 70c and for that to be tested and supported may mean a new era.
 
Just replying for the competition thread in which I nominated this company on top for 2020.
Reasons:-
1. I believe the bull market that has been pinging for a very long time will correct this year with global uncertainty & events.
2. Gold has been very bullish of late. Following TA personally I secured PRU when it broke through the 70c barrier and continue to hold. Currently $1.11 and very likely to accelerate in coming months.
3. I’m expecting the gold price to rocket in 2020, in fact US $1600 is not out of the question.
4. Follow Phil Anderson’s 18.6 year real estate cycle, which I follow very closely & you’ll see we are nearing a correction some time in 2020.
 
After playing with a few different systems which did not pick up PRU and it's lovely run over the last 4 months PRU has come to my attention again and I cannot fault the chart only myself for not riding this up.

Lovely set of Higher Lows and break outs along the way. Maybe going for another little run

 
Haven't looked at this for a while … been a great run.

I see Van-Eck associates doubled their stake just before Xmas to around 139 million shares (11%) Fair vote of confidence! West Africa maybe adds a question mark but the chart has been happy till now.
 
Absolutely guys, this has sneaked past me as well. I rode part of the trend as documented in the spec portfolio.

You are right barney, there is risk in West Africa with mining and exploration plays but there seems to be appetite for this risk as well as PRU share price shows. I also like a smaller Gold play that is building it's mining operation as we speak in the West African region called West African Resources Ltd (WAF).

If I am after a same size largish cap play but without the West African consideration, it'll probably be Gold Road Resources Ltd (GOR) which is an Australian based Gold play which is also going into production.
 
Well I entered this week and of course the SP broke out of my ascending triangle but finished strong today to give me some confidence for next week.

Timing entries is something that I need to work on but when it broke $1.175 I thought here we go but nope back down to $1.08. Still working on tying price and volume into my scans and thought patterns.

 

Certainly a good day for Gold stocks Trav.. 3 of the Top Stock Gainers today have been Gold stocks including the Aussie Gold stock that I mentioned above as well as the Rare Earth/Gold play in spec portfolio.

 
Update on this trade - PRU had a nice day today on the back of the gold price which saw the price break though and close above recent resistance @ $1.21 so happy about that.

High Volume day and trend indicators positive (ADX & MACD)



 
not me , i haven't looked at it for years ,

but maybe the quarterly will inspire me to research it

i have been buying/adding gold stocks in recent months

CHEERS
 
Anyone still following PRU ? as Quarterly due out tomorrow...
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divs4ever said:
not me , i haven't looked at it for years ,

but maybe the quarterly will inspire me to research it

i have been buying/adding gold stocks in recent months

CHEERS
Click to expand...
As you know I've sold out of PRU quite a while back in the spec portfolio and since have moved onto other Goldies. PRU was sold last time for a tidy profit in the spec portfolio:


Currently own ALK that's doing well and a small amount of FFX having sold half the position of FFX for a profit recently in the Speculative Stock Portfolio.
 
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