Golden Prospect Precious... Share Discussion Threads

[wskill] 20/2/2019 11:44

Yes makes sense to buy gpm at the present 30% discount to assets .

[steve73] 20/2/2019 11:40

The subscription shares are well underwater at the moment.
You're buying the RIGHT to buy GPM at 42.3 in Nov '19. (or 46.1 in Nov 2020)
So the price of the underlying GPM needs to double before GPSS has any actual value.
Surely better to have bought the actual share, GPM.

[skidaddle] 20/2/2019 10:23

Hopefully you are right. That's why I bought some GPSS this morning.

[dogberry202000] 20/2/2019 09:49

There was some real movement in several of GPM's holdings yesterday. Pretium was up over 11%! West Africa Resources more than 6% and Doray Minerals was up significantly, too. Things have changed here and will only get better. The HUI has broken out against Gold. This year could well be an outstanding one for miners and may leave 2016 looking tame.

[spectoacc] 20/2/2019 09:22

Gold up, NAV up, share price finally creeping up - discount widened with NAV increase tho.

[ohisay] 18/2/2019 02:18

And commentary end December pointing up the stock selection effect on performance in the portfolio.Maybe worth persevering with a little longer.

West African Resources announced the expected development funding for its Sanbrado Gold Project and, despite incorporating a low equity component, limiting shareholder dilution, the shares nevertheless fell almost 17% during December. Similarly, Westgold Resources was held back following a small equity raise by the group, with the share price declining around 12%.
As a result, the fund NAV rose only 1.5% during the month. While the Fund lagged sterling returns of around 10% for the Philadelphia Gold and Silver Index and Arca Gold Bugs indices, we believe these stocks are attractively valued and that their relative performance will recover once the funding issues have been digested. Having previously reduced the position in West African Resources, the Fund participated in the group’s discounted equity raise, though it did not partake in the Westgold equity issue.

[ohisay] 18/2/2019 02:13

End December
Top 10 Holdings (%)

West African Resources 9.13
Doray Minerals 6.13
Westgold Resources 6.04
Pretium Resources 5.32
Roxgold 4.83
American Silver 4.20
Ansanko Gold 4.05
Cardinal Resources 3.85
Tahoe Resources 3.59
Pure Gold Mining 3.53

Top 10 Holdings Represent 50.67
The Fund has exposure to 53 issues. Gold 71.29 Silver 20.16 Base Metals 4.09 PGM 4.47

[stevieweebie2] 08/2/2019 09:55

New broker appt, don't suppose this alters anything, ps didn't get a reply to my letter, as anticipated.

[brassgemini] 01/2/2019 19:32

Interesting view.

hxxps://moneyweek.com/501566/the-gold-bulls-are-back-so-lets-just-be-careful-out-there/?utm_campaign=money-morning-newsletter&utm_medium=email&utm_source=newsletter

[bpdon] 01/2/2019 18:51

Looks like that might have been a delayed trade from yesterday @brassgemini. Might explain why I couldn't buy any yesterday - I got two small batches on limit orders eventually. I still only have a small token holding here for the reasons already outlined on the thread.

[brassgemini] 01/2/2019 17:03

Still very little movement but one big buy order today of 250,000 shares at 20p.

[robsy2] 30/1/2019 11:24

Very good Stevie. I felt better just reading it.
R2

[stevieweebie2] 30/1/2019 10:59

No
I sent it to Craig Cleland but feel free to send to Elaine on my behalf if thats a more appropriate place

[brassgemini] 30/1/2019 10:53

Stevie - Genius...and I suspect the only smile that will be on my face with anything GPM related. I will try my own word smithing...did you send it to [e-mail] ??

[stevieweebie2] 30/1/2019 10:37

Sir
I write about the Dire performance of GPM, alas I started to invest just as the last bull ended but I have now had about 6yrs of woeful performance, this fund is to 'provide Capital growth' as stated by the company, where is this growth, ive seen None in 6 yrs, ive averaged down and now have about 50,000 shares worth about half of the capital outlay.
Who is picking the companies to invest in?, what precious metals are they investing in? where is the diversification? is everyone just drawing a salary at the expense of the shareholders?
and if the latter is the case is there a position open for me because im sure I could do no worse?
Ive never typed anything to anyone that ive invested in before but as an average Joe whos dabbled ever since 'If you see Sid tell him' and the Busby days of BT and has held this fund for far longer that I ever should I feel exasperated, Gold Now over 1300 and the Nav is in the sewer.
I dont expect a reply and maybe dont deserve one after my rant but if I thought for one minute the fund Manager would turn his Brietling endowed wrist and read what I have to say I would sleep with a bloody smile on my face. pull your finger out Sir.
Kind Regards

[stevieweebie2] 30/1/2019 10:35

Hi Brass
Ill see if I can copy and paste but please dont laugh lol as it was written in a fit of pique ;)

[brassgemini] 30/1/2019 09:59

Hi Stevie ...I'm of the same mind....Like you say I have had my fair share of knocks too but its time for this lot to put up or shut up shop.What was the nature of your letter in terms of your key points?

[creme de menthe] 30/1/2019 02:29

Several larger holdings have seen share value fall after cash calls.
I think the bad performance of this fund is purely down to poor stock selection. Rising gold price has put a floor under the fund but not much sign of getting back to the high 30ps.
The fund value is £15m. It should be wound up and 24p returned to investors.

[bpdon] 29/1/2019 15:31

Following on from the posts on here in Decemeber about performance, some of the top holdings have shown really underwhelming performance over the last month again. The GPM share price has held up though hence the NAV discount grinding up from circa 28% to around 20%. In comparison, the GDX ETF is broadly flat through January so far.

I only have a token holding here which I hoovered up late last year. But with spot prices being in the region of the 2016 range that saw this IT fly, you would like to think that the rising tide would float all the miners boats - it's not happened yet.

[stevieweebie2] 29/1/2019 10:54

Surely this Turkey must now be primed for lift off, gold broken out to a higher range must knock onto Nav.

[my retirement fund] 11/1/2019 11:48

This will be 25p soon

[stevieweebie2] 10/1/2019 15:59

yes, and Nav just lingers, one day this will be worth a quid again, just didn't figure it would languish for a decade first.

[brassgemini] 10/1/2019 15:40

Basically same story every day...one or two early am trades...then nothing all day...why don't they wind up this terminally sick stock. I mean do the investment managers do all day...play snap?

[stevieweebie2] 09/1/2019 14:47

Gold soaring now as they are talking about POSs cutting not hiking rates , some peeps been wrongfooted here methinks.