SAR 0.00% $4.69 saracen mineral holdings limited

Options expiry day today. Gold trading down towards US $1700. I...

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    Options expiry day today. Gold trading down towards US $1700. I am waiting to see what level Gold finishes at. If it stays above $1700 could be heading higher. Has to stay above $1675 pivot point to stay neutral. Below $1666 and we're in trouble. Few hours left.
    If SAR and Gold keep performing then no reason why the share price can't stay strong. Still 2-3 years in this Gold cycle. Nothing wrong with taking profits along the way, but I caution selling quality to buy cheap dog stocks. I am expecting a blow out quarter as SAR high grades. Check out this excerpt:
    http://www.zealllc.com/2020/gmq120fn.htm
    "One reason the GDX top 34 did so well may be high-grading, when mine managers choose to run better ore grades through their fixed-capacity mills. That increases their quarterly gold outputs, at the expense of leaving less high-grade ore available for future quarters. At least one company explicitly reported that is what they were doing, Australia’s Saracen Mineral. It’s been a long time since I’ve seen high-grading admitted.
    In its quarterly report Saracen disclosed “Saracen has large ore stockpiles exceeding 1.7Moz at 31 March; These will help insulate the business should mining be restricted from any COVID-19 impacts; Pro-active milling of higher-grade stockpiles underway at Carosue Dam and Thunderbox to bring forward production ounces and cash flow into FY20”. That high-grading strategy could’ve been used more widely in Q1’20."
 
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Currently unlisted public company.

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