Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.
Today’s figures may put more pressure on the Fed to take further steps to boost the economy after their current maturity extension program, known as Operation Twist, expires at the end of June. Looking very good for us chaps.. Im thinking of chucking the other half ( Not my wife) in here.. Have a good long weekned
U.S. MAY PAYROLLS RISE 69,000, JOBLESS RATE RISES TO 8.2%. QE around the corner?
Bank of England Interest Rate / QE announcements on Thursday, with hopes for something constructive on the QE front before the end of the summer from the MPC panel.
US jobs data points to loss of momentum in recovery. WASHINGTON, May 31 (Reuters) - Private payroll growth accelerated only slightly last month and claims for jobless benefits rose last week, suggesting the U.S. labor market recovery was stalling after a strong performance early in the year. Other data on Thursday showed factory activity in the Midwest slowed considerably this month and economic growth in the first quarter was a bit softer than initially estimated. Economists said the reports reflected business anxiety amid an uncertain global economic outlook as the euro zone debt crisis escalates and China's economy slows. "The economy is growing at an anemic pace and the job market is showing some signs of hesitation in the pace of hiring. There is a lot to worry about," said Paul Edelstein, an economist at IHS Global Insight in Lexington, Massachusetts. Private employers created 133,000 jobs in May, payrolls processor ADP said. That was only a slight step up from April's tepid 113,000 increase and below economists' expectations for a gain of 148,000. The report comes ahead of the government's closely watched employment report for May on Friday, which is expected to show nonfarm payrolls increased 150,000, up from a paltry 115,000 in April. The recent cooling in the labor market has been largely viewed as payback for strong gains during the winter, when unusually weather spurred economic activity. But economists are starting to worry that the troubles in Europe and uncertain fiscal outlook at home are now dampening the U.S. recovery
Same here, left half of my available funds just in case it dips again. We seem to be having more up days than down so hoping we can keep the momentum. Big day tomorrow I feel..
I agree with you, I feel Gold will make a big turnaround too. With QE in the US the dollar will decline and Gold will go back to + $1600. Are you in RRS or just Gold in General?
That would be exceptionally good for Gold and RRS.
Randgold Resources announces Total Voting Rights JERSEY, CHANNEL ISLANDS -- (Marketwire) -- 05/31/12 -- RANDGOLD RESOURCES LIMITED Incorporated in Jersey, Channel Islands Reg. No. 62686 LSE Trading Symbol: RRS Nasdaq Trading Symbol: GOLD ("Randgold Resources" or the "Company") TOTAL VOTING RIGHTS London, 31 May 2012 - Randgold Resources Limited announces that in accordance with FSA's Disclosure Rules and Transparency Rules, its issued share capital consists of 91,880,503 (ninety one million eight hundred and eighty thousand five hundred and three) ordinary shares of US$0.05 each. Each ordinary share carries the right to one vote in relation to all circumstances at general meetings of Randgold Resources. Randgold Resources holds 9,600 (nine thousand six hundred) issued ordinary shares in Treasury. In addition, 68,099 (sixty eight thousand and ninety nine) ordinary shares of US$0.05 each, including ordinary shares represented by American Depositary Shares ("ADSs") are currently held by Computershare Investor Services, Inc. on trust for former shareholders of Moto, who have yet to claim the ordinary shares (or ADSs, as applicable) to which they are entitled following the acquisition of Moto in October 2009. These shares (and ADSs, as applicable) will not confer voting rights whilst held on trust. Therefore, the total number of voting rights in the Company is 91,802,804 (ninety one million eight hundred and two thousand eight hundred and four). The above figure can be used by shareholders (and others with notification obligations) as the denominator for the calculations by which to determine if they are required to notify their interest in, or a change to their interest in, Randgold Resources under the FSA's Disclosure and Transparency Rules.
Does that mean an investor is buying more shares in Randgold?
All indicators are a blue day. Tomorrow will be key with US jobs data..
Friday is going to be a big day for us with US jobs data.. Lost all the gains from yesterday, just hope we dont slip below £50..
About Randgold Resources Limited Randgold Resources is an African focused gold mining and exploration company with listings on the London Stock Exchange (RRS) and Nasdaq (GOLD). Randgold's far-sighted strategy of growing through discovery and development enables it to deliver value consistently to its stakeholders while building platforms for further expansion. In 2011 the company again significantly increased profit and production. At the same time, it continued the extension of its Loulo complex, moved the Tongon mine (commissioned late in 2010) to steady state production, opened a new mine at Gounkoto and advanced the vast Kibali project to construction stage. Also during this period, its exploration teams pressed on with the hunt for more multi-million ounce gold deposits, feeding a constant stream of potentially profitable opportunities into the company's pipeline and enlarging its footprints in Africa's most prospective gold regions. Major discoveries to date include the 7.5 million ounce Morila deposit in southern Mali, the 7 million ounce Yalea deposit and the 5.5 million ounce Gounkoto deposit, both in western Mali, the 4 million ounce Tongon deposit in the Cote d'Ivoire and the 3 million ounce Massawa deposit in eastern Senegal. Randgold financed and built the Morila mine which since October 2000 has produced more than 6 million ounces of gold and distributed more than US$2 billion to stakeholders. It also financed and built the Loulo operation which started as two open pit mines in November 2005. Since then, two underground mines have been developed at the Yalea and Gara deposits. The company's Tongon mine in Cote d'Ivoire poured its first gold in November 2010. Randgold's latest mine, Gounkoto, another deposit south of Loulo in Mali, delivered first ore to the Loulo plant in June 2011. Randgold is fast-tracking Kibali in the Democratic Republic of Congo, where construction is underway and the first full year of production is planned for 2014. In 2009 the company acquired a 45% interest in the Kibali project, which now stands at 10 million ounces of reserves and is one of the largest undeveloped gold deposits in Africa. Randgold also has a major project at Massawa in Senegal and an extensive portfolio of organic growth prospects, supported by intensive exploration programmes in Burkina Faso, Cote d'Ivoire, DRC, Mali and Senegal.
All indicators pointing to a red day today. Hopefully not by much
LONDON (SHARECAST) - Questor was neutral on Randgold shares for some time, but recommended a purchase after the shares slumped 13 per cent following a military coup in Mali, where the company’s flagship Loulo mine is to be found. The shares were at 57.65 pounds. However, since then the tumbling gold price and a weak set of first-quarter figures has ensured the price continues to fall. Earnings per share in the first three months came in at 94p, 13 per cent lower than consensus expectations. The fall was not down to the Mali coup, but was caused by production issues in Ivory Coast. The company’s expansion plans should also lead to a significant rise in profits this year. Mark Bristow, chief executive, spent 652,478 pounds buying 13,480 shares at 48.40 pounds on May 18. Graham Shuttleworth, the chief finance officer, also spent 142,209 pounds buying at the same price. The shares are trading on a December 2012 earnings multiple of just 12.7 times, falling to 10.4, which is a significant discount to its recent rating. This reflects uncertainty over the gold price. However, Randgold’s total cost of mining each ounce in the first quarter was 751 dollars. The shares look oversold and Questor says buy. http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=20124837
Good start today, hopefully we can keep this momentum going. I firmly believe we won’t see the 40's again unless something disastrous happens..
Yes it does sound very good. They also have other projects for 2013 so there is still growth potential. I may be hanging onto these for longer than I first thought..
http://www.cnbc.com/id/47416869/Cramer_Chats_With_RandGold_Resources_CEO Gold prices fell to a 4-1/2-month low on Monday, hit by concerns about a worsening debt crisis in the euro zone following political deadlock in Greece which fuelled risk aversion and put pressure on the euro. Nevertheless, "Mad Money" host Jim Cramer recommends that every investor should own some gold. He prefers the SPDR Gold Shares Trust [GLD 152.68 1.27 (+0.84%) ], an exchange-traded fund that allows investors to own gold without having to worry about putting up huge sums of money to buy and store it. The miners, on the other hand, have been difficult to game. But with many mining stocks falling right along with the price of gold, he wanted to check in with some of the mining companies to see if there are any buying opportunities. So he welcomed RandGold Resources [GOLD 80.96 0.21 (+0.26%) ] CEO Mark Bristow onto Monday's "Mad Money."
I think late 60's to £70 would be a good exit. It will take a while to get there due to ongoing issues in Mali and financial markets in general. If the dollar loses ground we will see some good gains here. I've put half of my available funds in here and will add if RRS drops below £50 again. I may put the other half in Gold itself if that drops below $1500. I think everyone is searching for direction in this market, there are no obvious options atm.. GL mate and will hopefully be able to pop the champers at £70!
Thanks mate, I've been following this share for ages and luckily sold in the 7000's just before it crashed ( Needed funds for GKP at the time). Have you got an idea on an exit point?
The gold price has slumped from its record high above 1,900 US dollars (£1,200) an ounce to around 1,500 US dollars (£950) now. The price has not been this low since July 2011. Gold has slumped as the dollar has risen, with the continuing eurozone crisis prompting a flight to the US currency The dollar and gold typically have an inverse relationship, as a stronger dollar makes gold more expensive to buy in other currencies. More quantitative easing in the US could reverse this trend, but it is not certain whether the US will opt for more asset purchases. Randgold Resources' expansion plans should lead to a significant rise in profits this year. Last year, Randgold mined 696,023 ounces of gold and guidance for 2012 stands at between 825,000 and 865,000 ounces. This guidance was maintained despite the first-quarter hiccup. The company's growth projects include the continuing expansion of Loulo, Mali. It is also developing a new mine in the Democratic Republic of Congo. Randgold has a 45% stake in the Kibali project. All of this should ensure production continues to rise. Shares are 5140p. Buy. Read more: http://www.thisismoney.co.uk/money/investing/article-2150632/Sunday-newspaper-share-tips-Quindell-Portfolio-Randgold-Resources-Kingfisher.html#ixzz1w9r9YS9J