Golden Prospect Precious... Share Discussion Threads

[robo21] 28/9/2020 11:01

Well done Noirua, great thread

[noirua] 26/9/2020 15:25

Header now completed.

[noirua] 26/9/2020 14:38

Website:
London Stock Exchange:
Hargreaves Lansdown:

Financial Times - Includes Largest 10 Holdings



Bitcoin Daily chart:

AU$ Gold chart:
US$ Gold Chart:
US$ Silver Chart:




----- Sterling v US Dollar -------------------------------- Sterling v CA Dollar -------------------------------- Sterling v AU Dollar

[greenrichard] 25/9/2020 09:27

More bargain to be had short term in GPSS. with a diluted NAV of 61p from yesterday and likely increased when announced today - they should be trading at about 15p.

[stevieweebie2] 25/9/2020 08:04

just had a 15k top up, 55, great price must be a tight spread.

[king_baller] 24/9/2020 21:17

Don’t let market volatility shake you out of the gold miners. Some of the commentary over the last few days has been psychologically tough if you’re overweight. Real yields have increased a bit due to a strengthening dollar (lower inflation expectations). But remember, noone wants a strong dollar and deflation. Expect imminent US fiscal stimulus within a week. Then once trump or Biden is in expect MMT. That’s when gold explodes. You will regret selling down here. This is a buying opportunity, especially if it goes lower in the next week!

[papillon] 24/9/2020 19:22

You didn't pick a good time to sell GPM, Toffeeman. You should have done it when I first posted Jordan Roy-Byrne's opinion, back in August. He's got an excellent record on forecasting the gold price (and contrary to what some on here may think the gold price ultimately determines the GPM NAV because the prices of the shares that GPM invests in are directly influenced by the gold price).

Roy-Byrne predicted the gold price would drop to sub 1850 before starting to climb again. He was right. The spot gold price did dip below 1850 today and it seems to be on the rise again.

I'll probably top up first thing tomorrow morning. There was a big drop in the GPSS price today, but there is probably a big spread so you might not gain if you buy back into GPSS tomorrow.

PS If you had studied the gold price chart I posted before 8am this morning you would have seen, Toffeeman, that selling GPM today was not a good idea based on the RSI and MACD indicators shown on my chart. If you look back at my post you will see I commented that the RSI and MACD indicators were in a very similar position to the last big sell off in March and following that sell off the gold price then rose by over 500 dollars in around 4 months. The RSI and MACD were indicating gold was oversold last night.

PPS I don't subscribe to ShareProphets, but here's the headline from their article on GPM today:

"Golden Prospect – Time to BUY?
BY NIGEL SOMERVILLE

I have no crystal ball, so shares in Malcolm Burne’s Golden Prospect (GPM) could fall further before going up again, but I am convinced that it is now an outright buy."

[noirua] 24/9/2020 18:27

Fact Sheet:

[vacendak] 24/9/2020 17:08

The August factsheet is available. It may have been up for a while but I have only noticed it today.

[noirua] 24/9/2020 17:08

Toffeeman, When should you have bought back? When offer 10p for subs was there and GPM at about the time you posted.

[robo21] 24/9/2020 16:44

Topped up today.

[noirua] 24/9/2020 16:13

It looks like every share in the gold and silver sector in Canada and America is up today. Risers going out to 10%.
16:48 Making the right call is difficult though I heard a little bell ring before the close when the American and Canadian markets jumped horses and sped back up the mountain.

[toffeeman] 24/9/2020 16:09

I sold these today and my subs yesterday - just need to know when to buy back.

[brassgemini] 24/9/2020 15:53

Considering the share price movement today I thought there might be some comments on here....instead its like a ghost town!

[atlantic57] 24/9/2020 08:15

The same comments apply to those posters who were pushing gpss.

The point i was making when i made those posts was:

1) Yes i understood that if bought gpss there was no legal requirement for you to buy the underlying security.You could choose to sell gpss or simply not purchase the underlying security .

2) If you have bought gpss and are now sitting on a big loss if you have the funds to purchase gpm at the end of November , then taking a longer view you could still make a positive return.

Bulletin boards simply reflect human nature , so when gold was going up jordans comments were not popular.However he has seen to have called it accuratley.

[papillon] 23/9/2020 20:45

They rightly get "excited" about the price of gold, vacendak, because investor sentiment towards gold miners and explorers will be adversely affected by a weak gold price. The same applies to other commodities.

[vacendak] 23/9/2020 16:37

People tend to get a bit too excited about the price of the underlying commodities.

More useful commentaries could be made by trawling the web for stories on the individual mines, the availability of the workforce with regards to the pandemic, the impact of local coup-d'etats (like in Mali for instance), the hedging of the various miners (at what price they have committed to sell their gold and when), the break even threshold per mine depending on the price of gold, etc.

I used to look for that kind of info when following Resolute (RSG), back when I held UIL Ltd (UTL). I have less time now and cannot be a*sed to be honest, but would gladly upvote people who would. :)

[ultrasharp] 23/9/2020 15:38

Looks like Jordan Roy-Byrne will be proved correct and the gold price could be destined for sub 1850 before the bull phase reasserts itself. And to think that over optimistic ramping prats like different world ridiculed his prediction, in early August, that the gold price was about to enter a corrective phase. Different world? Just one of many over optimistic ramping ignorant idiots that populate these bb's

[264091] 23/9/2020 12:10

brugen, it stops you feeling poorer if your devalued cash buys less, doh.

[brugen] 22/9/2020 11:32

Noirua, If you live in the UK and own gold a devaluing pound doesn't make you richer. Your gold is worth more pounds but the purchasig power is exactly the same.