Golden Prospect Precious... Share Discussion Threads

[eeza] 26/10/2016 16:08

Half Year Report

[michaelsadvfn] 14/10/2016 16:40

You're the troll who is well known on the boards, that's why 21 posters ticked up MrPhilJones' post.

Just clarifying that like.

[michaelsadvfn] 14/10/2016 16:06

Very true, and hardly any surprise 21 posters agree...

MrPhilJones (LEG) 12 Oct '16 - 11:36 - 5180 of 5183     21    1

PP....Are you sure the stock market is where you should be I've been here 15 years and in all that time NOBODY has been better at finding dogs than you.....Your BB's should come with a government health warning......;-)))

Ignore everything the idiot Pettigrew posts.

[dogberry202000] 14/10/2016 13:43

On the above discussion, I've been wrong so many times, I stopped thinking about it many years ago!

Interesting rise in the last hour given that gold has dipped on a rising Dollar. Is this the last dip before the next sustained rise? Next week's action will tell the tale.

I'm beginning to wonder whether closed funds like this one actually prefigure moves in sectors rather than follow them. I don't know the answer.

[bamboo2] 14/10/2016 13:41

brugen, quite agree. What difference does it really make what PP has to say? No harm in a bit of politeness on advfn.


To some extent we are often all talking our own book/b*ll*x anyway!

[chinese investor] 14/10/2016 12:35

The Professor's boiler regularly blows up....that's why she is known as Michelin Woman !

[brugen] 14/10/2016 12:17

Chinese Investor,

Perhaps PP had to take the dog to the vet or his boiler blew up so he couldn't buy. I certainly find that not all of my plans come to fruition both in investment and life in general.

I come to this board to find what others are thinking. I often disagree with them which is no surprise otherwise we wouldn't have a market.

What I don't do is impune other posters motives.

Regards

brugen

[chinese investor] 14/10/2016 09:53

Professor Pinocchio (GRM) 13 Oct '16 - 21:13
I have a modest holding bought in two tranches at 47.21p and 46.5p.

Professor Pinocchio (GPM) 15 Aug '16 - 21:12
Bought a very small amount last week for inclusion in my ISA, but will be topping up regularly between 50-55p.

[professor pettigrew] 13/10/2016 21:13

No, we haven't. And my tune is the same as before. I have a modest holding bought in two tranches at 47.21p and 46.5p.

I am quite content for the longer term (3-5 years), so if these fall below 40p I will buy a larger amount.

That's all I'm saying. Nothing goes up in a straight line, you should know that, so there should be no panic if gold goes below $1200 and these hit the 30s.

It's very simple. Just increase your holding for what is to come.

[dilbert dogbreadth] 13/10/2016 19:27

lol you've changed your tune. Sold have we?

[professor pettigrew] 13/10/2016 19:21

Heading back towards a 20% discount to NAV again.

If gold takes a fall, these will easily slip below 40p.

I have a modest holding here, but my powder is dry for a couple of pretty large buys below the 40p level going forward.

[professor pettigrew] 11/10/2016 21:48

Yes, I knew you weren't eeza.

For what it's worth, I just have two simple targets for 2020, based on what I have read, my previous experience, and researching what is going on in the world.

Jan 1 2020 - Gold $3000 per oz / GPM £5 per share.

If you truly believe the gold story, and cannot fathom out how central banks can continue to print paper money and debase fiat currencies, then both predictions have an excellent chance of coming to fruition.

So, far be it that a falling gold (and consequently a falling share price here) should cause any consternation. The lower it goes short term, the higher the eventual outcome, and the better the opportunity here.

So, I for one, would welcome $1200 gold by the end of the year and an share price here in the mid-30's. The stock would be bought up in bucketloads.

[eeza] 11/10/2016 16:41

Wasn't referring to you PP - Lol !!

The same 'experts' assert that Oil is going to $200 - oh, wait, I meant $10.
Meaningless garbage. Make your own mind up as to direction & target.

Goldman has a much larger bearing on the direction of PMs, unfortunately.

[professor pettigrew] 11/10/2016 16:25

eeza - I'm only imparting the information I received a short while ago.

Gold, like everything else isn't a one-way ticket up, in fact it's down today.

But if its any extra help, bearing in mind gold could be in for a short term dive, here are the musings of John Baron on GPM. In fact, if Skousen is correct and gold does go below $1200 by year end, it would knock GPM down to around the low 30's and offer a tremendous medium term buying opportunity.


Golden Prospect Precious Metals

Last month’s column also promised to explain why the Growth portfolio increased its exposure to precious metals during August courtesy of Golden Prospect Precious Metals.

(GPM). This was part of the shift away from bonds, and into alternative assets to assist with diversification.

GPM’s metal exposure is approximately two-thirds gold and one-third silver. It is run by Keith Watson and Robert Crayfourd, and has enjoyed a strong run in the year to date as sentiment towards gold has improved. With growing concern about the efficacy of central bank policies in stimulating growth and the knock-on effect such policies may be having on respective currencies, gold has performed well.

Meanwhile, silver has industrial uses and is often seen as the more volatile of the two metals. Perhaps because of concerns about the economic outlook, it has not performed as well as gold of late. Indeed, the gold/silver rate is well above its five-year average – suggesting silver is cheap in relative terms.

The gold and silver mining companies still appear attractively priced relative to the underlying metals. These companies have been restructuring and this is ongoing – they are leaner and fitter than they have been for a long time. As such, they are generating a lot of cash. Speaking with Mr Crayfourd, GPM looks to companies producing 15 per cent free cash flow and double-digit earnings growth, which is attractive. Dividends may be on the rise.

Many insiders believe the recent market environment for precious metals is more positive than it has been during the past three years. Mr Crayfourd certainly shares this optimism and believes mining companies can still perform well even if the metal prices stay around current levels. GPM’s focus on smaller companies should also bode well given that further value can be found.

All in all, GPM looks attractive. A well-established and experienced management team, a near-20 per cent discount when bought, a sector benefiting from restructuring and exposure to commodities, which are increasingly seen as insurance in an uncertain world, all suggest patient investors will be rewarded. The recent correction in mining shares during August – a month not typically kind to gold shares – suggests now may also be a good entry point.

[bamboo2] 11/10/2016 16:18

DXY is on the way up, it's merely a case of the Gold/Dollar inverse relationship doing what it does 90% of the time.

Might not affect those denominated in GBP, if Cable continues down.

[eeza] 11/10/2016 16:13

Lol !!!

Another 'expert' who's wet his finger & stuck it in the air.

[professor pettigrew] 11/10/2016 16:03

Chapman Economics Professor, Mark Skousen, just issues strong SELL signal on gold.

Says it hasn't yet reflected the strength of the dollar index, with US$ M2 money supply up 10% so far this year.

Could see a gold price below $1200 in the coming 6 weeks.

[brugen] 10/10/2016 18:31

In Friday's IC John Barron explained why he added GPM to his IT Portfolios. May have had an impact on buys.

[robo21] 10/10/2016 16:16

Strong today.
Discount to NAV reduced to around 10%
Any cues to why ?

[ohisay] 06/10/2016 09:38

Yes indeed - not hard to see the H/S.

[bamboo2] 06/10/2016 08:04

This confirmed Head and Shoulders pattern targets 38