NOTICE OF INITIAL SUBSTANTIAL HOLDER
AMP Limited discloses a substantial holding in St Barbara Limited - 5.27%
Also, a few others like Cogent also topping up.
Some very "interesting" buy's in the pipeline this morning.
Very interesting............. Not sure how legitimate these are
Would be pleased to have you explain "...interesting......."
SBM is one of mine so do watch it a bit and since mentioned above have been noticing buyers holding back for the pool to refill. It is starting to happen again around the .955 to .965 where we could expect another surge to the larger sell area of.97 Volume is down at this stage today although late last week 15 mill went in the last half hour one day. Who knows ?
Would be pleased to have you explain "...interesting......."
SBM is one of mine so do watch it a bit and since mentioned above have been noticing buyers holding back for the pool to refill. It is starting to happen again around the .955 to .965 where we could expect another surge to the larger sell area of.97 Volume is down at this stage today although late last week 15 mill went in the last half hour one day. Who knows ?
I dont think that has any impact whatsoever traderboy.
Explod, I dont beleive volume is low at this stage today (though I havent done a comparison of the same time previous days).
I have however, noted large buyers coming in towards close and expect the same today. Think volume will end up pretty similar to the last couple days and the stock will close slightly higher once more.
Turns out we didnt get much more movement, either volume or price at close, even though the market rallied into the close.
Yeh, caution required here, swing traders would be getting out on this and a red candle at the top with a tail up is one I take note of. Mid to long term holders no probs but I'm a squib. Gold price hike tonight could change my mind by tomorrow.
Mysterious power at the heart of gold
James Kirby
March 9, 2008
Page 2 of 2
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Well, you say, those gold producers must know what they are doing - they're at the heart of it all actually digging the stuff out of the ground. Yes, it's true. It's also true these two big companies have had pitiful recent histories, with Newcrest enduring extended problems at its Telfer mine in WA and Lihir enduring all the limitations of a mine in PNG. But still you'd think they're all thinking the same way about the underlying price of gold. But as always with gold things are never quite what they seem. As investors digest the scale of the recent price rises very smart players in the market are not showing anything like the outward confidence suggested at Lihir and Newcrest.
At St Barbara Mines, perhaps the most highly rated listed gold miner outside the "big two", the big decisions are made by managing director Ed Eshuys. He's the nearest thing to Australia's Mr Gold. He was the geologist who led the team who developed Bronzewing, one of the biggest gold mines in Western Australia.
You'd think Eshuys would be holding back waiting for these $US1000-plus forecasts to come true but in fact he has been "re-hedging" at St Barbara - he's not saying the price can't go much higher, but actions speak louder than words - he's covering his bets at these levels with a new hedging program.
And what price is Mr Gold prepared to "lock in" his gold sales . - $US800 an ounce. That's what he told a conference in Florida last week.
A bit of a disappointing day for SBM. Would have thought today's bounce would have pushed the SP up? I think it actually went up momentarily but then was snuffed out.
Does anyone have any thoughts on this?
Not sure if the reporter got it right, maybe confused as 'Mr Gold' usually uses puts etc, so not sure if they are outright futures hedges as such?
Hmmm, Quite a sell-down today so far today 3.3million shares and down 3 percent, maybe should buy some more??
Hmmm, Quite a sell-down today so far today 3.3million shares and down 3 percent, maybe should buy some more??
As much as I would like to concur, as I hold a few of these, gold equities appear to caught up in the general bear market. It will drift until there is a clear new direction for gold, so just be patient as per explod; you never miss a bargain on the way down.
Although, being down 7% today, 20% from 98 at the top, hitting 75.5 we may get some new entries topping up today?
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