Golden Prospect Precious... Share Discussion Threads

[mozy123] 14/7/2011 16:11

Fresnillo had a huge day! HUI is slightly down. Nav must be north of 125p now.

[mozy123] 13/7/2011 21:48

Yes Chris, Silver Weaton, fresnillo raced away today. Looks good here

[chrisis33] 13/7/2011 21:36

If GPM averages 7.5% discount to NAV, we've still got a fair distance to go. Current NAV looks to me to be higher than that reported most recently given the shareprices of some of GPMs largest holdings.

[bamboo2] 13/7/2011 16:42

cheers mozy, i had to settle for 1000 in the end, as i didn't fancy doing four separate deals for the 4k i wanted, didn't trust the offer from hsd to deal at best in market, and had to get to a job!

[mozy123] 13/7/2011 09:09

Hi Bamboo, i just got quoted for 2k shares.

On another note, Fresnillo surging this morning. This looks dog cheap.

[bamboo2] 13/7/2011 08:54

anyone else able to get an internet quote on more than 1000 shares?
i'm trying to work out if the liquidity problem is general or just down to the limitations of halifax share dealing. [both in the selling and buying] tia.

[mozy123] 12/7/2011 16:59

19.8% discount.

[mozy123] 12/7/2011 16:58

HUI up today as well. Bodes well.

[mozy123] 12/7/2011 16:57

124.10 Nav as of the 8th July.

Nav will more likly be around 120p at the mo. significant discount

[mozy123] 08/7/2011 17:06

Chris, looks like another oportunity to add on Monday! Silver Weaton up and the Hui slightly up today, will see how it closes.

surley NAV will be around 125p now and must be at its largest historic discount at the mo?

[mozy123] 07/7/2011 19:58

Yep, will be looking for 9-7% discount before offloading

[chrisis33] 07/7/2011 19:55

Was a bit of a no-brainer at around £1 though

[mozy123] 07/7/2011 18:32

Chris, we timed it very well. very happy, great day.

[chrisis33] 07/7/2011 17:47

Still well below NAV which should be over £1.20 if my estimation is correct.

[chrisis33] 07/7/2011 10:00

Just took some more too.

[mozy123] 07/7/2011 08:18

Just added here, so so cheap!

[wolstencroft] 07/7/2011 02:16

I do not know; normally buybacks are to control the discount, but they rarely work in my experience. I would indeed like to see them trade in their own shares - buy at 20% discount and selling back at say 7.

[bamboo2] 06/7/2011 23:10

wolstencroft, have you any insight into the reason/s behind the recent change in the co rules allowing a buyback of up to 15% of the gpm shares? i have enquired by email before the agm, but have yet to recieve a reply.
it would be good to know if, for example, this change has been made to increase liquidity, or for some other purpose. tia.

[chrisis33] 06/7/2011 22:36

Mozy - I was pleased to get more at 99p this morning. Hoping for another batch tomorrow too.

[chrisis33] 06/7/2011 22:35

Thanks Wolstencroft/Mozy - I appreciate your input here.

[mozy123] 06/7/2011 22:35

already accounted for and we have about a 20% discount! adding 2moz again, hopefully i can get some @ 102 or below

[wolstencroft] 06/7/2011 22:32

its the same with the outperformance charge - even though its paid at year end it is accrued daily and therefore already taken account for in the quoted NAVs.

[chrisis33] 06/7/2011 22:20

Crossed posts with both of you there ... thanks for the info. I just wanted to be clear that I don't get stung for any extra charges directly. As you say Mozy, we don't see it.

[chrisis33] 06/7/2011 22:18

Is it just this?


----------------
The Investment Manager receives an annual management fee of 1.5% of NAV and an annual performance
fee of 20% of the increase in NAV above an 8% hurdle, but subject to a high water mark. The fund is
authorised to use gearing up to 30% of NAV although it is currently debt free.
--------------

I guess my question is whether I get hit with any charges directly for holding a fund?

At an average 7.5% discount to NAV, this looks 12% undervalued at present, and more once the reported NAV reflects the recent rises of some of the holdings. Am I missing something?

[mozy123] 06/7/2011 22:18

1.5% mgt fee is it not? But they take the fee's before releasing NAV, so we never really see it. If the Nav is rising so be it!