Golden Prospect Precious... Share Discussion Threads

[steve73] 12/8/2020 03:53

brassgemini - I have NAV at c. 60-61 after TSX closed. Our ASX stocks are further down this morning (as expected), but I'm not sure if this will contribute to the NAV that gets published later today, or if it only affects tomorrows.

With Gold and silver currently getting punished further in early Asian trade (just bouncing off lows of 1875/23.5 as I write) I would expect further falls of GPM/SS although they're both still at a discount to my expected NAV.

Steel (or perhaps brass..??) balls required here as the PM sentiment could change on a dime.

If only we all had pap's foresight to see the G&S prices fall.... GPM's 50 day SMA not withstanding of course (irony).

[papillon] 12/8/2020 00:20

I sold 6,500 of my GPM last week, ohisay. Just kept 2,000. I can buy back those 6,500 shares and have some spare cash to spend in the bargain. For your information, ohisay, I'm NOT a trader! I only own 2 shares. GPM & AMYT and I don't trade AMYT. Both GPM & AMYT have done rather well for me this year. I have 5000 AMYT shares.

Here's my latest chart. I prefer mine to the one in the header, especially since the one in the header hasn't yet been updated to record yesterday's share price drop.


free stock charts from uk.advfn.com

[ohisay] 11/8/2020 23:58

By his own admission he is a small 100's pounds small trader.Thats how much you should listen to him.Nothing wrong with that but unless you have real skin in the game your views have lets say a certain limited value.

[different world] 11/8/2020 23:40

He who laughs last, laughs the longest.

Perhaps we will appreciate your further comments when gold hits $3,000 papillon.

Do you not think there is a touch of arrogance in saying "I told you so", and repeating some of your previous posts to make you look a guru?

[papillon] 11/8/2020 23:36

Can't say I didn't warn all the super optimists this correction might happen. The evidence is there for all to see in the GPM chart in the header! I see pheobusav reckons everyone who disagrees with him is a nutter. He comes across as a very arrogant man. A manic depressive? Could be because he has posted a total of 19 times on the two advfn GPM bb's today. If that's not the behaviour of a nutter then I don't know what is! pheobusav? FILTERED. An arrogant nutter!

papillon - 10 Aug 2020 - 22:35:11 - 2586 of 2625 Golden Prospect Precious Metals Limited - GPM
Well according to the 6 month GPM chart in the header and going by the MACD & 14 day RSI shown on that chart one should have sold early last week. These indicators are not yet signalling a buy. Of course the indicators could be wrong, but the chart shows it's unwise to ignore them. I wont be ignoring them, but that's my choice.

papillon - 08 Aug 2020 - 17:05:39 - 2559 of 2625 Golden Prospect Precious Metals Limited - GPM
sp could go back down to the 50 day Simple Moving Average (SMA). It often does, as the chart in the header shows. Will it this time round? Who knows, but it's possible. Sometimes it goes even lower and back down to the 200 day SMA. Will it? Who kows, but it's possible. Sometimes below the 200 day Moving Average as happened in March. Will the same happen this time? Who knows, but it's possible. The 200 day SMA then acted as a very temporary short term resistance in March.

I forecast a possible temporary fall to 60-65p earlier this week. I now think a temporary fall to 55-60p is possible.

If you look at the GPM chart in the header you will see that the 14 day RSI has been below 30 (into oversold territory) thrice in the past 6 months. Once in March and twice in June. Buying GPM when the 14 day RSI rose above 30 again has proved to be an ideal time to buy in the last 6 months!

The gold price has had a big rise since early June so a drop was always a possibility. Even bullish stocks and commodities don't go up for ever. There are always pull backs and periods of consolidation. Canny investors (not too many on this bb unfortunately) know that, which is no doubt why gold stocks in North America and Australia have turned weak this week. The chartist guy on Palisade radio ( also foresaw a pull back in the gold price in his broadcast early this week, yet some on here ridiculed him as a know nothing ignoramus. There's none so blind as those that will not see!

papillon - 04 Aug 2020 - 08:19:17 - 2399 of 2625 Golden Prospect Precious Metals Limited - GPM
We saw a circa 8p fall in the GPM share price from the middle of May until mid June as the share price (and the gold price) consolidated after the big percentage rise from the start of April. I wouldn't be surprised to see a similar percentage fall now from the recent circa 72p high back to an share price in the range 60-65p.

Shares get overbought and oversold. It's the way of the world; just human nature.

[podgyted] 11/8/2020 22:50

FWIW - based on the top 10 for June I have a NAV of 60.45 (diluted for GPSS) as at tonight.

Anything could happen overnight but, if static POG, I would anticipate the Australian shares will fall tomorrow morning (possibly significantly) so this number will fall.

Therefore GPM has moved back into a discount situation but this is to be expected when the NAV is falling + given the extent of the falls, is it enough?

Each to make their own decision.

[ohisay] 11/8/2020 20:25

Even for an old timer like me this is a surprise,and tbh in retrospect not that hard to see .We should all be prepared to learn how we can improve our trading on this .

As usual neglecting the technicals has a lot to do with it.When things are going well we should at least check every day how over extended the technicals are.I'm afraid not for the first time I have been guilty of a little hubris.

Fascinating place the market.Long may it continue.

[different world] 11/8/2020 19:42

The current gold price of $1917, down $115, will of course impact on the monthly average, but as of now for August it is still around $2007.

This will obviously come down sharply tomorrow but extrapolate back the price of gold to GPM just 6 weeks back.

GPM are now trading at a level that indicated gold around $1725.

So, either gold falls another $200 or we are sharply undervalued.

[32campomar] 11/8/2020 19:29

Wild moves. Gold now off $100 and silver down 14%.

[brassgemini] 11/8/2020 19:29

Anyone any news on tomorrow's nav and the discount to the SP?

[phoebusav] 11/8/2020 17:29

Diluted NAV on 24 July just prior to ATH breakout in gold was 64.43p with a share price of 69p. Yesterday's diluted was NAV was almost the same at 63.92p yet GPM is now down 17.4% which is a massive overreaction even after today's NAV drop especially as gold is up $45 and silver up $4.5 over the same time frame.

[different world] 11/8/2020 17:09

Who cares about today's gold price drop?

People with more knowledge than us don't:-

[qs99] 11/8/2020 14:42

Added a few

[phoebusav] 11/8/2020 14:35

Spot on DW.

[different world] 11/8/2020 14:30

Fully agree phoebusav.

Maniac price and totally unjustified.

Once we get a turn in gold, which will come, we'll be back to business as normal.

[phoebusav] 11/8/2020 14:27

Greg Mannarino reckons Biden, but I don't agree. Trump is a 100% lock IMO.

[shanksaj] 11/8/2020 14:21

If I were a gambler I'd put money on Trump winning the Presidency. Odds are pretty good, and Biden is just going to talk himself out of it. If China attacks and takes Taiwan anyone happy if dotty old Biden is in charge? Yes! Chinese will be ecstatic.

[phoebusav] 11/8/2020 14:20

So gold need to drop another $165 to justify this pullback. Keep selling wet blankets. Dream entry point approaching. LOL

[c0lin1] 11/8/2020 14:19

just had 50k at 57.3p.close enough to the bottom for me ( i hope )

[g2theary] 11/8/2020 14:11

Nutter's in charge? It's up 12% in 4 weeks the correction is inevitable with obvious profit taking. Buy more on the dips gold will more likely go to the 1400 level before a next move up IMO. I hold mainly physical so I'd ideally like it to keep moving :))

[32campomar] 11/8/2020 14:01

Big move in gold now down $60, silver down 6%

[phoebusav] 11/8/2020 13:57

Looks like I was a bit premature with my top up. Nutters appear to be in charge.

[32campomar] 11/8/2020 13:56

Big move in Gold now down $60, silver down 7%