Sunday, May 13, 2007

Charts of Interest Gold / HUI / GSS / BVN


Comments: Gold looks like it may be getting close to support, if it hasn't reached it yet. COT numbers are still bearish though.


Comments: HUI close to support and may be bouncing from 200 day MA.



Comments: BVN looks like it's trying to go parabolic, but RSI looks like it's making a lower high. Non-confirmation...


Comments: Chart a little scary. Let's hope old channel line holds as support, though any rallies might be capped by broken trendline at around $4.40. Weakness is Gold could easily see GSS go to $3.87... maybe even $3.75. GSS has a lot of intriguing prospectss, but it just can't completely get its act together. Last quarter was another loss with one of their two mines having spectacularly horrible cash costs, and there's likely more to come in Q2.

They've already missed their guidance for the year in terms of production and cash costs, since their previous estimates assumed that BIOX would be commissioned by April 1. On the other hand, the future looks much brighter if the BIOX plant can be commissioned and if the energy problems can be solved, the HBB feasibility study was fantastic (though analysts had expected lower capex), and there are plenty of exploration efforts in the works--results from Sierra Leonne (of all places...) are due in this quarter.

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