Gold Buying boots on but what did I buy? Nigel Somerville writes...

Tom Winnifrith Bearcast: Explaining to Pierotlunaire why he and Warren Buffett really do exist. Listen HERE

I said recently that this correction in gold and gold stocks was not a time for worry, it was time to get out the buying boots. Gold tumbled all the way down to around $1875 per ounce – quite a drop from the recent peak of $2067 and gold stocks were pretty much in freefall. Some corrections mean hanging around the same prices for an age but this was a good old sell-off...

Read HERE: Yu Group – appoints fraudsters' favourite SP Angel as Nomad/Broker……guess what comes next...

As I write, gold has recovered somewhat and short term I wouldn’t like to predict what comes next: more falls, a period of stagnation or a swift recovery to the high. But on a one year view I have seen nothing to suggest the gold bull has been thwarted and thus I expect prices to be comfortably higher a year from now.

Read HERE: Pennant International – after last month “continued ability to convert new opportunities and win new international business”...

Having built up a bit of a war-chest, I put a bit of it to work. I had been watching AIM-listed Ariana Resources (AAU) for a cheeky chance to pick up a few more at under 5p – but I wasn’t quick enough. Likewise, I have been watching Centamin (CEY) for a chance to pick up a few more at under £2. Sadly, thus far, I have failed on both counts. Grrr. But I did pick up one new share, jumping in to Golden Prospect Precious Metals (GPM) at 57.2p. Against its peak price of 73.7p my purchase price works out as a 22% discount, which seems to be a jolly good entry point – Jordan Roy-Byrne points out that in the wake of the financial crisis 20% drops appeared the norm for a correction, so a dip of 22% was hard to resist. Secondly, Golden Prospect’s peak NAV hit about 75p and the share price had almost closed the discount to NAV as the gold bull got a bit overexcited. But if gold marches north again to $2067 and beyond as Buzz Lightyear delivers QE to infinity and beyond, I would anticipate gold stocks to respond accordingly so at 57.2p I am relaxed.

The CMA blinks but - sorry Dignity - the internet genie is out of the bottle. Read from Chris Bailey HERE

In the hope of another wave of uncertainty I continue to watch Ariana and Centamin and still have hopes of picking up a few more on the cheap – the former to drop at perhaps 6p, although news on a dividend could change my mind. These periodic wobbles in the gold price offer up an opportunity, and if this wobble takes a further turn I will take further advantage. It is certainly not a time for panic.

Read HERE: Pensana Rare Earths – emphasises green sh*t… but still further upside...

Filed under: gold, Golden Prospect Precious Metals, Bearcast, Yu Group, Pennant, Dignity, Pensana

Bluebird Merchant Ventures - a giant leap forward, 114% ahead but much more to come?...

09/30/2020

Can Rolls Royce strengthen its balance sheet and recover longer term? Gary Newman reviews...

09/29/2020

Pensana Rare Earths - following massive upgrade of resource at Longonjo, where next for the shares?

09/28/2020

Kefi Gold & Copper - interims but more significantly Hawiah Preliminary Economic Assessment...

09/25/2020

Red Rock Resources - Australia NI 43-101 report, target price increased says HotStockRockets...

09/24/2020

Greatland Gold - potential to become a producer but current valuation bonkers? from Gary Newman...

09/23/2020

Johnson Matthey - geeking out on hydrogen. Chris Bailey writes...

09/22/2020

Jubilee Metals - further positive. From the N50 website...

09/21/2020

OptiBiotix - an exclusive worldwide licence agreement, still a strong buy?...

09/18/2020

B.P. Marsh & Partners - trading update, still a buy?...

09/17/2020

Bluebird Merchant Ventures - less than 30 days to share price takeoff? From HotStockRockets...

09/16/2020

One of the three cheapest small cap shares to buy today?...

09/15/2020

Shanta Gold - a buy? A HotStockRockets review...

09/14/2020

San Leon Energy - moves look unreflected in the share price says HotStockRockets...

09/11/2020

Biffa - still where there is muck, there is brass says Chris Bailey...

09/10/2020

EasyJet & DS Smith - both buys?...

09/09/2020

The prospects for the FTSE 100-relegated ITV reviewed by Chris Bailey...

09/08/2020

Chaarat Gold - a review from HotStockRockets...

09/07/2020

Red Rock Resources - set for 1.26p or more before Christmas? A Tom Winnifrith HotStockRockets review

09/04/2020

Ariana Resources - what now following cracking news from Arzu South?...

09/03/2020

Wood Group - a recovery buy?

09/02/2020

Xtract Resources - additional mining agreement & big news considers HotStockRockets...

09/01/2020

Ariana Resources - cracking Q2 numbers from Kiziltepe says Nigel Somerville...

08/28/2020

Jubilee Metals - ore supply and processing agreement continues expansion, Buy?...

08/27/2020

Golden Prospect Precious Metals - a buy?...

08/26/2020

Kefi - the start of a transformational two months when shares could double?...

08/25/2020

Horizonte Minerals - why I have bought more shares writes Gary Newman...

08/24/2020

Red Rock Resources - update potentially very significant says HotStockRockets...

08/21/2020

Gold, Golden Prospect Precious Metals, Centamin, Ariana Resources & more from Nigel Somerville...

08/20/2020

Eurasia Mining - so much for the dividend and asset sales! Nigel Somerville writes...

08/19/2020

Shanta Gold - relatively cheap? Gary Newman reviews...

08/18/2020

Galileo Resources - Kalahari Copper Belt exploration here goes says HotStockRockets...

08/17/2020

Pensana Rare Earths - emphasises woke nonsense but still further upside says HotStockRockets

08/14/2020

Gold Buying boots on but what did I buy? Nigel Somerville writes...

08/13/2020

AA plc - hedge fund-style shareholders v. private equity potential acquirers writes Chris Bailey...

08/11/2020

Falanx - trading statement suggests remains a buy says HotStockRockets...

08/10/2020

Goldplat - term sheet for Kilimapesa mining sale, still a buy says HotStockRockets...

08/07/2020

San Leon Energy - Nigerian oil export system investment delight understandable?...

08/06/2020

Centamin - cracking Interims. A review by Nigel Somerville...

08/05/2020

KEFI Minerals - remains a buy after Q2 update considers HotStockRockets...

08/03/2020

Power Metal Resources - recent tip gains but more to come? HotStockRockets updates...

07/31/2020

Surely the boat has sailed for Trainline plc says Tom Winnifrith...

07/30/2020

Is gold a bubble? A review by Tom Winnifrith...

07/29/2020

Novacyt - the desperate share-ramping continues says Tom Winnifrith

07/28/2020

Hydrogen will play a big part in power generation but AFC Energy? Gary Newman writes...

07/27/2020

Rishi is no magician and Purplebricks is still toast in the end argues Tom Winnifrith...

07/24/2020

Avacta - COVID-19 test update. So what? Tom Winnifrith writes...

07/23/2020

We all love gold... so invite the Canadians back? Chris Bailey writes...

07/22/2020

President Energy - a recovery buy? Gary Newman reviews...

07/21/2020

ECR Minerals - a speculative buy? A review by HotStockRockets

07/17/2020

Burberry & ASOS - fashionista trading update face-off

07/16/2020

Fevertree - a Trading Statement lacking financial specifics… & a recovered £2.7 billion valuation

07/15/2020

Centamin - Q2 report, well ahead on this tip but still a buy considers Nigel Somerville...

07/14/2020

Red Rock Resources - spin-off potential, and more than one...

07/13/2020

KEFI Minerals - about to rip? The HotStockRockets team writes...

07/10/2020

Gold cracks $1800 - what to do now and is it Ouzo time yet?...

07/09/2020

Whitbread - why you should not worry about a -80% Q1 revenue move writes Chris Bailey...

07/08/2020

It has been a torrid time for pubs but Marstons should recover strongly reckons Gary Newman

07/07/2020

Highland Gold Mining - update on COVID-19 response, continuing as planned...

07/06/2020

DS Smith - respectfully Mr Market you are wrong says Chris Bailey...

07/03/2020

Pity us poor British taxpayers bailing out Versarien plc says Tom Winnifrith...

07/02/2020

Petra Diamonds - heading for a wipeout for equity holders? Gary Newman writes...

07/01/2020

easyJet - data breach is not in my top three worries and I own the shares says Chris Bailey...

06/30/2020

San Leon Energy - 2019 results & now about to capitalise on a strong position?

06/29/2020

KEFI Minerals - reduced Tulu Kapi project funding requirement, buy says HotStockRockets

06/26/2020

UK Oil & Gas - do not get spiked & is that a dodgy deal I smell? writes Peter Brailey...

06/25/2020

Cranswick - future FTSE-100 constituent? Chris Bailey reviews...

06/24/2020

Why Amigo Holdings is a zero considers Tom Winnifrith...

06/23/2020

BP - new CEO sounding loony... or being very clever?

06/22/2020

Novacyt - corona update, this is all about executive greed and share ramping now says Tom Winnifrith

06/19/2020

Kingfisher sings a song of recovery... but can do so much more says Chris Bailey

06/18/2020

Two UK shares which cannot defy gravity forever says Tom Winnifrith

06/17/2020

Metro Bank - potential acquisition two drunks propping each other up?...

06/16/2020

Cora Gold - a buy suggests HotStockRockets

06/15/2020

Hummingbird Resources - a diversified gold production buy?...

06/12/2020

Nearly a 10 bagger tip... but evidence of alternative energy bubble?

06/11/2020

Avacta - its covid game soon to be up says Tom Winnifrith...

06/10/2020

Columbus Energy - another potential share price catalyst...

06/09/2020

Biffa - still brass in muck says Chris Bailey...

06/08/2020

Union Jack Oil - for a hat-trick of wins?...

06/05/2020

Volvere - 2019 results... & 2020 opportunities...

06/04/2020

Hochschild and Hertz... A review of two old timers by Lucian Miers

06/03/2020

Big themes still at Playtech says Chris Bailey...

06/02/2020

Centamin, Ariana Resouces & Gold - was that the correction, in double-quick time?

06/01/2020

Asiamet - negotiations for deal on KSK helps shares, target increased...

05/29/2020

Bluebird Merchant Ventures - further project funding progress, increased price target...

05/28/2020

Burberry shares remain fashionable to me says Chris Bailey

05/27/2020

Imperial Brands - still an Income buy?

05/26/2020

Columbus Energy - project & funding update suggest still a buy?

05/22/2020

Marks & Spencer - never the same again? Chris Bailey reviews...

05/21/2020

OptiBiotix - sales trajectory sparks shares, but still an even stronger buy?...

05/20/2020

A whole sector that is a short?...

05/19/2020

Tri-Star Resources - sale of first Antimony BUT...

05/18/2020

KEFI Minerals - still significant upside offered by its asset base...

05/15/2020

OptiBiotix - now Taiwan agreement adds to confidence...

05/14/2020

Some gold and gold stock takeaways from Nigel Somerville...

05/13/2020

Is Trainline ever going to make sensible profits?

05/12/2020

Another reality pill - this time for BT Group

05/11/2020

Jadestone Energy has the strength to ride out low oil prices says Gary Newman...

05/07/2020

Hummingbird Resources - a buy says HotStockRockets...

05/06/2020

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