It has gone down so much to being very undervalued now. I think therefore it is trying to find a bottom so we getting these big swings. It did this last year around the same time when it tried to find that R 16/R17 intermediate bottom. What is your views? I am watching gold for an intermediate bottom and Har, very very close to going long. R8 seemed to hold well.
They trying to get their share price up. This is info that we kind of already knew though from their results.... Positive thought. Both SENS impacting price positively, big time up again. Russ, what is your feedback/thoughts? Johannesburg: Wednesday, 2 December 2015. Harmony Gold Mining Company Limited (Harmony and/or Company) is pleased to advise that it has repaid R1.1 billion of its debt. These repayments comprise US$50 million on its US$250 million Revolving Credit Facility (RCF) and R 400 million on its R1.3 billion Rand facility. The mining operations continue to perform in line with their plans post the September 2015 quarter. An increase in the rand gold price during October and November 2015, further strengthened the CompanyÂ’s cash position. Despite the gold price trading around multi-year lows in US dollar terms, Harmony, with over 90% of its operating revenue generated in South Africa, benefits from the weak rand which more than offsets the impact of the low US dollar gold price. Â“Our hard work of the last couple of years are finally paying off, enabling us to reduce our debt, strengthen our balance sheet and provide us with even more certainty that we can fund the Golpu projectÂ”, said Graham Briggs, chief executive officer of Harmony.
I think we can safely say we just got a gold intermediate bottom. Possibly an all time cycle low.. all against better than expected payrolls. Could be an indication of a market top..Dollar top.. etc... etc.. we will see... time will tell. Lets talk Harmony targets,, January ... February :DD
Yeah, I am in Russ from R9ish area. Not bad so far! yourself? I see 1450 as resistance if that breaks then that 17/18 area. Otherwise I would love to bank that 2400 area by January! It could be possible. What do you think?
Oh, my word!!!!!!!!!!!!!!!!!!!!! What a hour and half today. Sold half 20 minutes ago at 1485 and then I saw some chart resistance put the other half sale in at 1515.. and this baby shot to 1550 and boosted my price even. some went through at 1520...1530... my goodness. I am too shocked to speak right now biggest trade gain ever in my career. This should now go for the 17 mark,,but I am going to wait for a bit of a pull back and breath for a bit for a few minutes
With that crazy move it just had, I see it broke above that resistance trendline. Lol, need to wait for a pull back. Harmony seems to like shooting up in the morning then calms down the storm and drops back a bit around this time to afternoon then it moves up a bit again. Gold price is coming down might test lo 1060s or 1050s again. So, lets see again early afternoon what the situation is.