Golden Prospect Precious... Share Discussion Threads

[cf456] 18/7/2019 12:33

"Gold Is In a New Bull Market — and It’s Heading a Lot Higher"

[king_baller] 18/7/2019 10:24

Silver absolutely flying. GPM has good exposure to silver miners. People will wake up to this as the NAV continues to shoot upwards. Very good level to top up here. John Barron, MP and investors chronicle columnist used to hold this, I would be shocked if it’s not on his investment trust portfolio’s radar.

[cf456] 18/7/2019 07:19

NAV should be up strongly today with some big moves in some of the larger holdings yesterday e.g.:

West African Resources: +6.52%
Americas Silver Corporation +6.46%
Silver Lake Resources +11.67%

[ohisay] 18/7/2019 07:06

Top 10Holdings(%)

Westgold Resources 11.87
West African Resources 10.04
Americas SilverCorporation 8.34
Silver Lake Resources 6.97
Roxgold 6.75
Pretium Resources 4.30
Asanko Gold 4.17
Continental Gold 3.93
Cardinal Resources 3.35
Atlantic Gold Corporation 2.90

Top 10Holdings Represent
62.62 %
The Fund has exposure to 45 issues.
Gold 72.41
Silver 20.45
PGM 3.63
Base Metals 3.50

[creme de menthe] 17/7/2019 19:47

Silver sitting at almost $16 and the pound weakening against the $ all helping nav, but not being reflected in the share price so far.
Perhaps if the fund bought a few dividend paying holdings the gap might narrow.

[cf456] 17/7/2019 17:00

Depends on your timeframe.

The share price is up sharply since the beginning of June and the last swing up from 19p or so to 27p shows how quickly the price can move with a bit of demand.

If gold and silver continue to rise then there's potential for a good move here. The longer term chart shows just how rapid the rises can be when the conditions are right as they were for the moves up beginning in 2009 and 2016.

[brassgemini] 17/7/2019 16:25

I note the article says "in the form of bullion" though....as ever GPM shows little signs of life ...its like a twitching corpse :-(

[greenrichard] 17/7/2019 15:03

WestGold and Americas Silver (about 20% of the Trust holdings) are both up over 4% in early trading.

[greenrichard] 17/7/2019 14:28

Discount now widened to over 28% of NAV

[davebowler] 16/7/2019 11:46

Gold at 20 year high-Gold Price Chart, Live Spot Gold Rates, Gold Price Per Ounce/Gram | BullionVaulthTT ps://www.bullionvault.com/gold-price-chart.do

[greenrichard] 15/7/2019 16:54

Simply needs a larger volume of buyers to reduce the discount. You can see a NAV discount history on HL website.

www.hl.co.uk/shares/shares-search-results/g/golden-prospect-precious-metals-gbp0.001/share-charts

It bounced around the 10-20% discount range until March 2018 and then it took a dive to over 30% later in the year.

[creme de menthe] 15/7/2019 16:03

The share price is not rising however, the discount to nav is simply widening.

[cf456] 15/7/2019 14:07

NAV now 34.01

[skidaddle] 15/7/2019 11:09

Good luck with SPGP.

My own opinion is that we are seeing a completion of a symetrical triangle, which should normally resolve in a continuation of the trend preceding it.

Which is up in the case of GPM.

Nothing is guaranteed however.

[robsy2] 15/7/2019 10:53

For the record
I've sold my holdings here on Friday and this morning so sit back and watch it head north.
I've opted for SPGP as an alternative, no discount of course but more easily traded and less costly to hold.
Good luck all holders
R2

[oooff] 12/7/2019 19:36

Today I received a similar letter from Halifax Sharedealing Limited. That Golden Prospect GPSS subscription shares are allowed to be held in an ISA and that Halifax sharedealing had got it wrong by saying that the GPSS share were ISA ineligible and needed to be removed from an ISA.

[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.