Golden Prospect Precious... Share Discussion Threads

[wskill] 20/8/2018 10:40

Trying to get my average price down today put in a limit order for 65k at 22.5p the MMs don't seem to be playing ball.

[stevieweebie2] 15/8/2018 18:00

Thanks ohisay

[ohisay] 15/8/2018 11:04

Steve these are the GPSS shares issued last November.



Each Subscription Share will confer the right (but not the obligation) on any Subscription Date to subscribe for one Ordinary Share on exercise of the Subscription Share Rights and on payment of the Subscription Price.

The Subscription Share Rights may be exercised on the last Business Day in November in any of the years 2018, 2019 or 2020 and, if not exercised on the last Business Day in November 2020, will lapse.

The Subscription Price will be equal to the published unaudited NAV per Ordinary Share as at the close of business on Wednesday, 20 December 2017 plus a premium depending on the year in which they are exercised




if Subscription Shares are exercised to have effect on the last Business Day
in November 2018, 40.37 pence, being a 5 per cent. premium to the NAV on 20
December 2017, rounded to two decimal places;
* if Subscription Shares are exercised to have effect on the last Business Day
in November 2019, 42.30 pence, being a 10 per cent. premium to the NAV on
20 December 2017, rounded to two decimal places; and
* if Subscription Shares are exercised to have effect on the last Business Day
in November 2020, 46.14 pence, being a 20 per cent. premium to the NAV on
20 December 2017, rounded to two decimal places;

In other words totally academic ar the moment...

[briggs1209] 15/8/2018 10:09

Just thinking out loud but could we see NAV head to 30 p and the share price to 15p.

Is this issue just too small to be worth taking over?

[stevieweebie2] 15/8/2018 09:43

ohisay
I have a question on this, I have an III account and it says that I have 16,526 sharees of GPM Sub Shares NPV valued at £1.80. clearly 16526 x 1.80 is almost 30k I have No idea what all this means anyone help please?
Edit, okay just realised its 1.8p so £297 makes more sense on the numbers so maybe not worth bothering about still unsure of what to do.

[ohisay] 15/8/2018 07:46

Oooff why are you buying GPSS shares preferentially ?

[dogberry202000] 10/8/2018 18:42

The US Dollar is in a blow off top right now as it acts as a weapon and a refuge during madman Trump's sanctions now against three countries and tariffs against China.. Several European banks are in deep dodo on loans to Turkey. Gold's relative strength against the the US Dollar is impressive. Let's see what next week brings.

[oooff] 10/8/2018 17:06

GPM goes down slightly today and GPSS subscription shares go up 18%. Did pick up some extra GPSS a few days ago.
GPM did go below 20p in 2015 and into 2016, but see potential for a good upside increase as in 2016 at some point.

[spectoacc] 10/8/2018 16:40

Divi would be handy I agree, but - they're already perilously close to being "too small", paying out a few % of the NAV every year would only exacerbate that.

What they need is a fundraising or merger - can't see either happening.

[briggs1209] 10/8/2018 16:35

Even for this shoddy bunch we now have a huge discount to nav. If only they paid a dividend

[spectoacc] 10/8/2018 15:56

Just caught up with the IC and John Barron did indeed sell GPM - but only from one of his portfolios, and didn't sound very bearish about it. But still - he could well have an undue influence on a small mkt cap co like GPM.

(He probably didn't say much about it because he's done so poorly on it).

[nrholland] 10/8/2018 15:00

I doubled my holding yesterday - always happy to buy an unloved asset ...

[spectoacc] 10/8/2018 14:22

And some more. The NAV's not great (gold been sinking a bit) but is far from terrible - still feels like "sub-scale" is GPM's biggest problem, and these falls aren't helping it. But I remain a sucker for a decent discount.

[spectoacc] 26/7/2018 08:10

In for a few more - don't know which way metals will go, nor the £/$, & dislike the size of the trust, the inordinate running costs, & lack of a divi. But a sucker for a discount.

[dogberry202000] 26/7/2018 07:54

I think GPM is well represented with silver and I have a few silver companies in the portfolio. But, alas, no more cash to buy the commodity.I think many PM bulls are all in.

I also thought that it could have been a newsletter writer.

[spectoacc] 26/7/2018 06:36

@dogberry202000 - then buy silver ;)

Still not sure why GPM tanked - maybe a John Barron sell tip? It was that sort of muppet small selling on the whole (tho with one large trade too).

[dogberry202000] 25/7/2018 23:45

A director buying a significant amount of shares on the open market. It hasn't happened for many years! And even then it was for far fewer shares.

The valuation considering the NAV is insane and the PM markets could easily turn over the next few days and zoom far higher into August and September. The underlying holdings are overwhelmingly sound and first rate.

Silver has made its low and should clear 20 dollars before the end of the year.

[llef] 25/7/2018 17:53

bit shocked to be honest - director buying in GPM!!

hooray

Golden Prospect Precious Metals Limited

Notice Regarding Purchase of Shares

Golden Prospect Precious Metals Limited (the "Company") advises that 100,000 fully paid ordinary shares at £0.245 per share (the "Shares") were purchased by one of its Directors on 25 July 2018. The Shares are part of a class of securities listed on TISE and AIM.

[spectoacc] 24/7/2018 09:19

This is being discussed as if it's a "normal" investment trust but as far as I can see:

- mkt value c.£16m
- 1.25% AMC, but..
- 3.16% ongoing charge, if HL is to be believed

Hence it's woefully undersized, will drop over 3% a year even with no change in underlying holdings, pays no dividend, and holds quite a few (too many?) illiquid stocks to even warrant a breaking-up.

NAV down 63% over 12 years, share price down over 70%. No dividend to reward patient investors.

Something clearly has to change, but unclear what can, nor what incentive there might be. Management still get paid.

Edit: Guessing may be a sell tip somewhere - stream of sellers & some taking below the bid on not large sizes (eg 17.4k sold at 23.75p, 8.7k sold at 23.62p).

[wizard7] 23/7/2018 18:33

Urghg. Got lots of these and, like most holders was underwater before today. Average down again? remember the glory days of 100p?... just Urghg. don't worry though - it's all about to change - this time next year Rodney...

[mikett1] 23/7/2018 17:05

Westgold resources (10% holding) dropped 8% today. But that obviously equates to a less than 1% NAV drop. Must be some distressed sellers.

[mad foetus] 23/7/2018 14:32

I'm not in this but with the current discount and market cap there must be some pressure to wind up the company and distribute all assets at NAV?

[dogberry202000] 23/7/2018 14:26

Investors frightened off because they think support in gold has been broken. Some newsletter/video writers have told them.

Nothing's changed, just capitulation. Poor sods. Congratulations to those who had the cash to buy dirt cheap shares.

[cl1nt1] 23/7/2018 14:13

I know the nav is a day out but it is 33% discount to nav

[wskill] 23/7/2018 13:55

has something happened to any of the investments .