Golden Prospect Precious... Share Discussion Threads

[mundungus] 10/7/2019 11:57

I received an email from iWeb yesterday telling me to ignore their letter on share(s) being ineligible for the ISA and having to be sold.

[oooff] 09/7/2019 21:39

Thank you for your reply kenmitch. Halifax stockbrokers have been sending letters to ISA GPSS subscription shareholders saying that their GPSS shares can not be held in an ISA and Halifax stockbrokers will remove them from all ISA's on 29th July. I suspect they are wrong.

[kenmitch] 09/7/2019 19:48

Oooff.

Subscription shares CAN be held in ISAs. I’ve held many in the past when the rule was and still is that subscription shares can be held in ISAs but warrants can’t. Since warrants and subscription shares are exactly the same except in their name that was daft.

It probably isn’t worth bothering about it really as the sub shares are very overvalued thanks to being issued when the share price was much higher. So the chances of the subs going up much are small unless the share nearly doubles and the chance that they will expire worthless is high. I’ve still got my free ones in an ISA with ii but would not be remotely tempted to buy any more unless the share price goes up a lot.

[oooff] 09/7/2019 19:14

Thanks for the reply mundungus. I believe IWeb are part of Halifax share dealing as well. Really would prefer confirmation from a different broker as Halifax do get things wrong from time to time.

[mundungus] 09/7/2019 14:10

Yes, I had the same from iWeb

[oooff] 08/7/2019 17:32

I have a holding of free GPM GPSS subscription shares in my ISA. The stockbroker, Halifax HDSL, have said GPSS are not eligible and will remove them from the ISA on 29th July, if I have not sold them before. Has anyone else had this happen with their broker ?
Could be Halifax HSDL are being a bit dim. Posted here as more active than GPSS board.

[pakenham] 07/7/2019 16:35

Gold price vs fund share price analysis: approx figures

52p when gold at 1370 in 2016
25p now and gold at 1400 - Nav 33p
18p when gold 1170

So definitely an argument for this to be 60p now - gold producers just playing catch up at the moment

Also gold has support at 1383 now and many predicting a gold super cycle with targets as high as 4000.

I've looked at UK gold producers and they all have issues so this fund is the best way to play gold as a hedge or serious investment imo.

I think the re-rate is in the very early stages and the catch up will be exponential from here as long as we don't have a crash in price of gold - but six years of gold resistance has now been broken - now exceptionally strong support and with several economic and geopolitical factors to send it much higher. I hold.

[skidaddle] 05/7/2019 16:14

Todays's positive US payroll figures that may postpone a rate cut in the US and hence the strong dollar possibly continuing for a while longer and why gold dropped.

Analysis payroll figures perhaps not as positive as first thought:

"To summarize: June saw a surge in full-time jobs, as total US employment hit a record high of 157 million workers, however virtually all of this increase was due to workers being forced to get a second (or third, or fourth) job, double- (and triple-)counting those who can no longer make ends meet on one job alone."

[creme de menthe] 05/7/2019 15:34

The 'talking heads' suggest gold could reach $1500 this year and with Trump trying to weaken the dollar it's worth hanging on to these for another 6 months at least.
I hope the nav gap narrows but it's going the other way at the moment.

[dogberry202000] 05/7/2019 15:09

The weak pound is another factor where GPM are heavily invested in holdings abroad.
The $USD is possibly in a blow off top right here. Gold and silver are down heavily but only because of the temporarily stronger Dollar and their prices feel like this. Anyone selling here will likely be chasing this at higher prices.

[skidaddle] 05/7/2019 12:18

Also the fact that they are invested in junior miners that have been lagging the seniors. They should start catching up.

[spectoacc] 05/7/2019 09:22

33.2p NAV yesterday, will endeavour not to comment on it every day unless a reasonable move, but expecting the discount to come in too - no reason it shouldn't be at say a 10% discount if gold is seen as "on the up" - ie c.30p. Has the triple whammy of rising gold price, rising gold miner price (esp the more speculative stuff, long out of favour) & falling NAV discount.

[spectoacc] 03/7/2019 08:04

Gold right back up - great tree-shake by MMs on GPM, ahead of last NAV coming out.

[spectoacc] 02/7/2019 13:40

32.03p, can't say it looks a sell at 24p!

[cf456] 02/7/2019 08:07

Mellon on the Markets: Gold and what comes next

"And that’s why gold is rising, not much yet, but a lot over the next three years or so. I really wouldn’t be surprised to see gold at US 5000 an oz in that time period, and I urge all readers to be positioned accordingly."

[greenrichard] 01/7/2019 19:54

The NAV is a day behind so the share price usually leads in anticipation.

[king_baller] 01/7/2019 17:51

Creme de menche the trust’s NAV has actually gone up very slightly today. A lot predicted this week that gold could pull back a little, which it has. A few have panicked and sold out at a large discount. This is the best opportunity for a long time to go long gold and silver miners in my opinion. On a 12 month time frame I expect the NAV to more than double from here. The share price will follow, which, together with a probable closing of the discount, will lead to significantly more than doubling of the price. Just hold and come back in a year!

[creme de menthe] 01/7/2019 16:05

Gold has fallen back a little but 20% is excessive. This fund really is pants.

[tykethat] 01/7/2019 15:44

The Grand Old Duke of Trump, he had 10,000 men... he marched them up to the top of the hill and he marched them down again!

[spectoacc] 01/7/2019 14:16

32.7p NAV, but tomorrow's will be more relevant after gold's come back in a bit on trade war thawing. Won't be long before Iran worries start again tho I bet..

[spectoacc] 28/6/2019 16:10

32.63p, nothing wrong with the NAV.

[skidaddle] 28/6/2019 11:19

My average price is 2.1p for 150,000.

[ohisay] 28/6/2019 09:11

40% is bid to bid .I bought most of mine last year - below last weeks bid,

[spectoacc] 27/6/2019 15:00

@ohisay - that's the spread covered then ;)

[ohisay] 27/6/2019 11:48

Nice to see my warrants up 40% this past week.