Golden Prospect Precious... Share Discussion Threads

[valuehurts] 14/2/2024 19:43

I am continuing to accumulate. This is one of last vehicles in London for small cap pm miners. There will be a bull market again and at this discount we have a margin of safety until that time. I think it is almost criminal we can buy at these prices. When the time comes we get the closure of the discount and the underlying performance. This is like Uranium juniors a couple of years ago, no one cares.

[different world] 14/2/2024 18:57

As our discount to NAV is now not far off a mammoth 30%, I thought this article released today was pertinent.

I know personally a couple of people that have been adding to their positions here since 2020, one actually owns 500,000 shares, simply buying the dips and just sitting on them.

I've no reason to believe that what is said here won't eventually come to pass.

An interesting read:-

[papillon] 14/2/2024 15:31

Gold mining can be very dangerous.

[papillon] 14/2/2024 11:54

I don't hold BTC, or BTC miners, or any cryptos, 1hercule. Never held them. My last investment is GPM. I should have waited for the GPM chart to turn Bullish. I'm 79.
PS I don't understand why BTC is so popular. However the Strongly Bullish chart is true enough!

[1hercule] 14/2/2024 10:49

Do you own BTC or BTC miners? or any other crypto Pap?

[papillon] 14/2/2024 10:43

Gold price still depressed and going nowhere today, whilst BTC continues to power ahead! BTC currently up over 3% so far today.

[1hercule] 14/2/2024 10:33

yeah it does but it will change. Look at silvercrest, debt free and already a cash cow , down 8% yesterday.

[atlantic57] 14/2/2024 10:30

Jordan is now talking about support at 1860

I think many gold bugs are throwing in the towel.
It just seems like a never ending saga ….

[1hercule] 14/2/2024 10:06

So tempting down here to add some PM shares ( sadly not GPm as too illiquid with aj bell ) but will watch and wait for now.

[podgyted] 13/2/2024 20:44

GDXJ down over 6%.

Definitely feels like people throwing in the towel.

BWDIK

[podgyted] 13/2/2024 20:07

NAV being slaughtered in NA tonight.

The 5 Canadian miners in the top 10 are down between 4% and 6.5%. I'm expecting a bloodbath in Oz tomorrow as they staged a rally this morning. We'll see.

The US inflation figures have definitively told the market that any cut in interest rates are many months in the future (they could have just listened to the FED). Unfortunately that means gold/ gold miners are unattractive for a few months.

US indeces all down about 2%.

Will a rally ever appear?

[papillon] 13/2/2024 19:48

free stock charts from uk.advfn.com


2 year GOLD price candlestick log chart showing EMA's and 14 day RSI.
This chart is still bullish, however the falling 14 day RSI shows that the Gold price probably has further to fall in the short term.

PS I might add a token amount to my shareholding in GPM, but I will wait until the 14 day RSI becomes oversold and then starts to rise again. I won't be contemplating adding a more substantial amount to my GPM holding until the GPM chart starts to turn Bullish again (as I showed yesterday in my GPM chart it's been Strongly Bearish for a very long time).
I regret starting to buy GPM shares when the Gold chart went Strongly Bullish at the start of 2023 following the drop to $1625. I imagined that the GPM share price would reflect a rising Gold price, but I was wrong. In fact the GPM share price is now lower than when the Gold price was only $1625 around 15 months ago due to junior Gold miners being so out of favour with investors. "You live and learn"!!

[vacendak] 13/2/2024 18:05

Bought one batch at 45.65p and another at 59.90 back in 2020 to get a bit of gearing on my gold holdings. So far it has indeed magnified the falls in the gold price but somewhat always fails to do that on the way up.

It was not beer money but not too substantial either no I never mustered to courage to sell, take the hit and roll over. I did cut my losses on the direct Chinese exposure in my portfolio two years ago (BGCG) and it turned out to have been the right thing to do; but I am still holding GPM for some unknown reasons. Maybe I still believe instinctively that gold mining is literally about pulling money out of the ground... oh well.

[stevieweebie2] 13/2/2024 16:06

back to the 2019 low it goes lol, 5yrs of bag holding almost complete.
just get it dumped already then we can mnove on ffs.

[arbus5000] 13/2/2024 15:54

i dont take BTC seriously either, but have some drinking money in BTC and ETH, which might turn into a full course meal should it go to the moon, and it doesnt get hacked in the meantime.

everything's being battered at the moment - looks like its over done...

[papillon] 13/2/2024 15:25

Blimey! The Gold price just fell off a cliff, following latest US inflation figure! 😡🥱

[papillon] 13/2/2024 12:57

Posters should have ignored the likes of BEN, ENET, EISB, GPM, etc and concentrated on the chart of BTC over the last 15 months. BTC has gone from a low of circa $15k to today's intraday high of $50k during that time. My BTC chart started to turn Bullish around $20k and Strongly Bullish around $25k. I posted my BTC charts on this GPM bb as the BTC price rose.
I've only been an interested bystander in the BTC price rise from it's lows as I've never held BTC. I wouldn't know how to buy BTC (or parts of it) and anyway the idea of holding it in password protected wallets doesn't appeal.
Whether BTC has peaked today, or will go higher, I have no idea. I can't predict the future. However my BTC log chart is still Strongly Bullish. I wonder when my chart will start to turn Bearish? I wish I knew! Unlike many advfn posters I don't pretend I can predict the future! Though history does have a habit of repeating itself because human beings make the same mistakes again and again.

[papillon] 12/2/2024 22:49

Well worth reading.

[papillon] 12/2/2024 19:53

free stock charts from uk.advfn.com


3 year GPM log showing EMA's and 14 day RSI. As can be seen this GPM chart has been Strongly Bearish for over 2 years, unlike the Gold chart, which has been Strongly Bullish for over a year. Proof that junior Gold miners are completely out of favour with investors.
The 14 day RSI shows that the GPM share price has become oversold today. As can be seen from the above chart the GPM share price often spikes up (but not always) after the 14 day RSI starts to rise from an oversold position. It looks like the RSI will decline further before starting to rise again.
The

[arbus5000] 12/2/2024 10:00

its about time- have been looking to buy the dip on GPM recently but the buy price has been stuck around 27.5 for ages !!

[papillon] 12/2/2024 09:07

Big drop this morning. Not surprised as someone sold 95k first thing this morning.

[papillon] 11/2/2024 19:26

BTC continues to rise. It's currently overbought, but could stay overbought for weeks.

The big question is when will Gold take off like BTC? 😂 At the moment it's a big yawn for Gold buffs! 😁

[papillon] 11/2/2024 14:36

"Gold closed the week at $2024 – down from last week’s $2040 but essentially still going nowhere fast as it trades between $2000 and $2080 or so. The wait for a break – up or down – continues."