Golden Prospect Precious... Share Discussion Threads

[mozy123] 30/12/2010 13:00

124.03p NPV :)

[pote] 24/12/2010 15:52

fordtin.....re: post 120

I've recently had a reply from Selftrade...

"Please accept my apologies for the delay in responding to your message. I can confirm that the stock is ISA eligible and has been set up on our website to trade within this account type"

Thanks again, and a merry Xmas to all
pote

[davebowler] 21/12/2010 13:14

I prefer CYN from the same stable - it has a wider spread of investments and is still at 10% discount to NAV

[bamboo2] 21/12/2010 12:54

Golden Prospect Precious Metals Ltd announces that the weekly estimated
Net Asset Value per ordinary share is 114.31p as at 17 December 2010.

===============================================================

fordtin, it would be very interesting to know the names of all the holdings, though most general funds i have experience of only ever list the top percentages. i think there is more detail for gpm in the six monthly report.

adding a few more in the isa today. halifax share dealing have various offers at the moment where dealing commission is £4 or less. there is no stamp duty on gpm and i can 'average-in' very affordably.

[fordtin] 20/12/2010 13:44

I'm not sure why there was a month's delay between listing on CISX and listing in London, but I'm convinced it's referring to the same placing.

re Dec factsheet;
I'd love to know what the 17 companies are which they've bought into with the placing money;

post placing - top 5 holdings represent 38.8% of the total trust. The trust has a total of 56 holdings

pre placing - top 5 holdings represent 39.2% of the total trust. The trust has a total of 39 holdings

[bamboo2] 20/12/2010 13:35

cheers fordtin. so given the total shares in issue has remained the same, this rns [16-12-10] is not really news?

re dec factsheet,
interesting to see the % of top holdings change month to month. eldorado makes it into the top 5, alamos drops out. i wonder if this is as a result of trading or changes in the underlying shares price? thanks for posting.

[fordtin] 20/12/2010 13:05

Happy christmas bamboo

I've added some colour to highlight that the November RNS lists the placing shares on the Channel Islands exchange and the December RNS lists the same shares in London

------------------------

December fact sheet now available;

[bamboo2] 20/12/2010 13:01

hi fordtin,
happy christmas to you.
re the above,
looks like someone had a late night perhaps?
ie a mistake?

perhaps there's a prize for the first shareholder that notices and emails the co?

edit, i'm probably just being thick.

[fordtin] 20/12/2010 12:52

Déjà vu!



16 November 2010


Golden Prospect Precious Metals Ltd ("GPPM" or the "Company")

GBP2.5 million placing of new ordinary shares

GPPM is pleased to announce it has raised approximately GBP2.5 million, before expenses, by way of a Placing (the "Placing") with institutional and other investors (including existing shareholders) of 2,420,000 new ordinary shares of GBP0.001 each in the Company (the "Placing Shares") at a price of 101.5 pence per Placing Share (the "Placing Price").

The net proceeds of the Placing will be used for investment purposes in accordance with the Company's stated investment strategy.

Application will be made for the Placing Shares to be admitted to the Daily Official List of the Channel Islands Stock Exchange ("CISX"). Dealings in the Placing Shares are expected to commence on the CISX at 8:00a.m. on 17 November 2010.

Following the admission of the Placing Shares, the Company will have a total of 40,370,000 ordinary shares in issue.

---------------------------------


16 December 2010

Golden Prospect Precious Metals Ltd ("GPPM" or the "Company")

GBP2.5 million placing of new ordinary shares

GPPM is pleased to announce that it raised approximately GBP2.5 million, before expenses, by way of a Placing (the "Placing") with institutional and other investors (including existing shareholders) of 2,420,000 new ordinary shares of GBP0.001 each in the Company (the "Placing Shares") at a price of 101.5 pence per Placing Share (the "Placing Price").

The net proceeds of the Placing will be used for investment purposes in accordance with the Company's stated investment strategy.

Application has been made for the Placing Shares to be admitted to trading on SETS qx. Dealings in the Placing Shares are expected to commence on SETS qx at 8:00 a.m. on 17 December 2010.

Following the admission of the Placing Shares, the Company will have a total of 40,370,000 ordinary shares in issue.

[bamboo2] 20/12/2010 12:46

16/12/10 additional listing at same price [101.5] as the a/listing in november.

seems a bit off as subscribers can off load their existing and 'pocket the difference'.

perhaps the new shares could have better reflected current share price by being linked to previous day close in some way.

[mozy123] 08/12/2010 14:04

115.57 NPV - WOW undervalued still!

[zutalors] 07/12/2010 11:23

Another issue is whether the Revenue consider this an offshore fund for tax purposes and if so whether it has Reporting or Distributor Status. If it doesn't capital gains are treated as income if held outside an ISA. New City did not reply to my email on this matter.

[pote] 07/12/2010 09:53

Thanks!
I'll let you know their response.

[fordtin] 07/12/2010 09:17

Hi Bamboo.

I held GPM shares a few years ago and sold just before they delisted from AIM because I didn't know if I would have difficulty selling them if I'd continued to hold after the delisting. The management were very poor at communicating with their investors and didn't bother to explain how the move to the Channel Islands Exchange would work.

The other major downer is that they only tell investors what the top five investments are, so ~60% of our investment is an absolute gamble. Such lack of communication and vague information makes GPM a punt on the fund managers' reputation.

I've only recently bought back in when I realised it was ISA eligible and because Malcolm Burne has made me some good money in the past with the original GPM before it became Ambrian. I think he can do it again.
He seems fairly confident in that he recently bought 50,000 shares @ £1.015 in a placing which was approximately equal to NAV at the time.


Pote - although the weekly NAV updates are a welcome improvement in communication, GPM/New City Investments still fail to return phone calls. I never did get an answer from them regarding ISA's, but I spent a considerable amount of time reading HMRC documents and CISX documents before putting GPM shares in my ISA.


Try emailing the following to selftrade;



"Markets on which securities would meet the HMRC definition of 'listed' for the purposes of HMRC legislation"

Guernsey
10-Dec-02
The Channel Islands Stock Exchange (CISX)
Whole Market





-----------------------------------------------


# The UK Financial Services Authority has approved the CISX, with effect from the 1 February 2004, as a Designated Investment Exchange within the meaning of the Financial Services and Markets Act 2000 (FSA web-site).

# On 10 December 2002, the UK Inland Revenue (now "HM Revenue & Customs") designated the CISX as a Recognised Stock Exchange under Section 841 of the Income and Corporation Taxes Act, 1988 (ICTA)(HMRC briefing note on the recognition of Stock Exchanges)

[bamboo2] 07/12/2010 08:47

hi pote, thanks for the reply. halifax allow this in the isa, and i have taken the plunge in a small way and plan to average in further in due course.

[pote] 06/12/2010 20:30

Don't wish to kick off the ISA issue again, but Selftrade don't allow GPM in an ISA.
(At least they didn't a month ago)

[bamboo2] 06/12/2010 20:22

hi fordtin, am i right in thinking these funds normally trade at a discount to nav? does look like an interesting way of spreading risk within the isa though.

[fordtin] 06/12/2010 15:26

The Silver shares can't be doing the NAV any harm ;o)

[pascaltrading] 10/11/2010 16:42

Another good day at the office for all involved, still seems to be limited interest all round. Long may that continue, GL to all, could be a good run up to Christmas....

[woracle] 10/11/2010 14:27

Same as everything Jimbo... and some will be multi-baggers too. Don't think u can put everyone in the same boat. Personally I don't invest in any miners until they are fully funded at development stage to go into production at least. Ultimately, either u are confident enough to pick your own mini metals portfolio or pay 2%+ a year to these chaps. ADVFN is typically people who don't invest in funds so I wouldn't expect much talk here .. I know this fund well and have researched all its main holdings. Wasn't happy with its % silver exposure so went solo a while back.. I do keep an eye on its holdings for ideas but needless to say happy I went to solo for greater weighting in silver miners. But I do like the team at NCIM.

[jimbo55] 10/11/2010 13:12

.... because some of the "go go stocks" are suspect in terms of ever reaching production woracle; SOLG being a prime example.

This trust invests predominantly in mid-tier producers. Currently, this must be like owning a cash machine, and is less risky than some of the blue sky exploration stocks out there.

[woracle] 10/11/2010 09:50

Why talk about an investment trust when u can talk about actual go go stocks in a bubble market :)

[centrepoint2] 10/11/2010 01:06

Guys have look at following, looking to breakout very soon, easy 150%+ short term::

Anglo Asian Mining
Low cost Gold producer
Numis Target 70p & BUY
MM's Short of STOCK (109m Share issue, only 35% on market)

PLZ DYOR & is looking good at the moment, is one of the cheapest & UNDERVALUED Gold producing stock around!

[jimbo55] 10/11/2010 01:05

Possibly still under a lot of people's radars Pascal. Long may it remain so!

[pascaltrading] 09/11/2010 20:12

I don't quite understand why there is seemingly so little chat or interest in this share, has been earning nicely for me for a while now! Any ideas?