Golden Prospect Precious... Share Discussion Threads

[spectoacc] 25/6/2019 09:27

Having taken a lot of pain on the way down, and seeing what gold's (finally) doing, can't see much reason to sell out - not least because I think the discount will come right in. Hence even if gold waves back lower (as it surely will at some point), I think we might be past "peak discount".

[king_baller] 25/6/2019 09:04

Very illiquid. I had to pay a decent premium to get 10k worth. Brassgemini, are you joking?! A small profit so you want out? Gold has just broken it trading range. There won’t be anymore rate hikes this cycle. Do you understand what the current gold price will be doing to the smaller/medium sized gold companies cash flow and likelihood of getting taken over. Don’t sell a penny. This is a leveraged play thy I expect to double over the next 12 months. Google ‘atlaspulse217; update on gold for a good explanation what is going on with gold currently.

[skidaddle] 25/6/2019 08:58

You might regret if you stay and you might regret if you sell. Was it ever thus.

Even the gold commentators can't come up with a consensus. Some say 1500, others 1700 and there are those who say it is all a mistake and we are heading for sub 1200.

My own take is that we have seen a breakout that has been 6 years in the making. Normally 1350-1370 would now be seen to be a support area rather than a barrier.

Will we see some kind of sell off? Probably, but that is normal and may well shake out people like you who are uncertain what to do.

When that's over then it should move forward again. All imho. That's the way a gold bull market works.

[techtrend] 25/6/2019 08:58

Well it's never wrong to take a profit but no, my target is around 60p this year for GPM.

GPM did:

20p -> 120p in 2 years 2009-11
18p -> 46p in 6 months in 2016

so when it moves, it moves. The question is whether this is a bear market rally as 2016 was or the continuation of the bull market. I think its the latter and very early days at that. Market participants are so underweight gold/gold miners that it will take months of buying to even get them back to historic average levels of holdings.

[brassgemini] 25/6/2019 08:45

I am very tempted to sell and not be greedy! For the first time in 2 years I am showing a small profit. Its so easy to think this can (in crypto speak) go to the moon....but I am not that naive. Is anyone else considering the top out point so they don't have too many regrets if this dissolves into another short boom?

[jonnyboy1] 25/6/2019 07:08

Yes,apologies I thought I had deleted it. I haven't posted in ages and wont do so again. Ignore it. Thanks

[skidaddle] 24/6/2019 22:44

What are you on about? You can buy and sell the warrants anytime. I could even sell them now at a profit.

It wasn't me who down voted you either. So someone else thinks you are talking drivel too!

[jonnyboy1] 24/6/2019 21:37

Sadly I think the discount will start to widen into the 40s as the dilutive effect of the warrants kicks in. Post 42p it will take 3p underlying to move the diluted NAV 2p. So ironically the leverage is undermined by the instrument.Given where we are in order to see gpss as good value over the underlying at nov19 you must expect a share price of well over 48p come nov19 so likely prediluted NAV in excess of c66p. Then realise you will need to pay to exercise as you likely won't be able to exit the warrants at share-price-42p. So nov19 not a very attractive risk reward.

[davebowler] 24/6/2019 14:43

Gold is at an all time high in Aussie and Canadian dollars.
- click on currency -next to the 20yr button to the left hand side above the graph.

[skidaddle] 24/6/2019 14:04

"maybe even the GPSS holders will make money if this continues :)
"

I'm banking on there coming a time when the GPSS shares go up penny for penny with GPM! Which of course would mean that I stand to make £1,500 each time.

We are on the cusp of a golden cross.

[davebowler] 24/6/2019 14:03

Gold price in £s is close to all time high-

[spectoacc] 24/6/2019 13:56

30.9 to 31.7, maybe even the GPSS holders will make money if this continues :)

Also expecting a narrowing of the discount the longer this continues.

[cf456] 24/6/2019 13:41

NAV up again. Now just under 32p.

[wskill] 24/6/2019 07:39

All we require is for gpm to be selling at around Fridays nav to get back the 6p it will be nice to be in profit with these at last after my many average downs it has been a lesson to me of what not to do again.

I am hoping the tide for gold has at last turned.

[creme de menthe] 21/6/2019 18:21

Perhaps I'm looking at it the wrong way.
Down 6p in 12 months.

[spectoacc] 21/6/2019 15:29

"...Hardly earth shattering..". Over 2p. In 24hrs. That's 14p/week ;)

[davebowler] 21/6/2019 15:02

Net Asset Value per share as at: 20/06/2019


The unaudited net asset value (NAV) of the company is noted below in pence per share.

Pence per share
Golden Prospect Precious Metals Limited 30.90

[creme de menthe] 21/6/2019 14:38

The rise is useful but hardly earth shattering. Shanta was up over 10% at one point today.
Gold price will have to go much higher to push GPM along.

[spectoacc] 21/6/2019 13:24

Wow - that's amazing, a jump of more than 2p in 24hrs.

There's hope yet!

[cf456] 21/6/2019 13:14

NAV now up to 30.9p

[stevieweebie2] 20/6/2019 11:08

Brass
FWIW I have exactly the same holding and Ive shown a 50% or more over several years, okay I didn't cut my losses but im not going to double down on my error, im definitely going to run my profits, soon this will be over a quid again IMHO the only question is when but im not going though the grief to B/E, good luck whatever you do.

[skidaddle] 20/6/2019 10:07

Brassgemini

This may explain your predicament.

WALL OF WORRY

[spectoacc] 20/6/2019 10:02

@Brass - NAV increase, gold price increase. Both over time should help the hefty discount to narrow. No reason if gold gets going again that GPM can't trade much nearer to NAV, say within a penny or two, which right now would put it at c.28p (assuming rise already from day before yesterday's NAV).

Of course: shares can go down as well as further down.