Gold Price Action and Timing of Hater G ReleaseGold is doing exactly what I thought it would. Consolidate. Wycoff on Kitco was calling for a potential reversal with a tri star top in gold futures. The top needed confirmation a nd so far the tape is not confirming the candlestick pattern. A tight range after a big move (given the gold price does not go down in a big way today) is affirmation of a conituation pattern. If it plays out like I think it will it is one of the stongest confirmation signals for a continuing bull move. If the gold price today stays where it is at we will be banging against $1,350 maybe as early as next week. There is a ton of open interest on futures right now. If the gold price holds the pressure is on the shorts going forward.
As for Hater G release, this release was due last year. Delays put this annoucement into 2018. I thought we would have had guidance yesterday evening but we go tthis release instead. I would not read the delay as bad. Since their info was delayed at Hater G and they planned to beginning mining there near the end of 2018. I assume it would affect the mine plan givien the delay in data. Waiting an extra 12 or 14 days isnt going to kill me.
As I write this I know someone at KLDX reads these boards. Please for your some of your shareholders release production in the first week of Feb as I have taken a few Feb 2.50 calls to add leverage to my existing position. I hope the info from guidance will help ease the pain of the last few months.