Golden Prospect Precious... Share Discussion Threads

[noirua] 02/12/2020 18:08

Noirua - 02 Dec 2020 - 16:59:14 - 209 of 210 NCIM - Golden Prospects P M - GPPM - GPM

Diluted NAV at 60.43p - 46.14p = 14.29p or 23.6% discount.
Diluted NAV-bid: 60.43 GBP - 49 bid GBP = 11.43p or 18.9% discount.
Figures notified 2/12/2020 for 1/12/2020

They were published after all.

[noirua] 02/12/2020 16:59

Diluted NAV at 60.43p - 46.14p = 14.29p or 23.6% discount.
Diluted NAV-bid: 60.43 GBP - 49 bid GBP = 11.43p or 18.9% discount.
Figures notified 2/12/2020 for 1/12/2020

[noirua] 02/12/2020 16:57

I guess that is the end of diluted NAVs and the actual NAV uncertain until the matter of GPSSs is finalised. That the reason no doubt for today's figures not being published.

[kenmitch] 02/12/2020 14:35

IF the trustee can exercise the lapsed sub shares.

[noirua] 02/12/2020 12:52

Noirua - 02 Dec 2020 - 09:09:38 - 206 of 209 NCIM - Golden Prospects P M - GPPM - GPM

Subscription Rights in shortened form:

Following this exercise, 10,336,782 Subscription Shares Rights remain unexercised. In accordance with the terms and conditions on which the Subscription Shares were issued, the Company has appointed a trustee (the "Subscription Trustee").

It is intended that the full number of Ordinary Shares that would arise from the exercise of the outstanding Subscription Share Rights (the "Rump") will be sold by finnCap by way of a secondary market placing executed at the maximum available, single clearing price.

However, the Subscription Trustee reserves its absolute discretion to execute bargains in such sizes and prices as it deems appropriate to the interests of the outstanding Subscription Shareholders.

Qualified investors (as defined in section 86(7) of the Financial Services and Markets Act 2000 (as amended)) considering participation in the secondary market placing are advised to contact finnCap as soon as practicable. Orders for the placing should state the number of shares to be purchased and the maximum purchase price (or confirm that the investor is willing to trade "at strike").

Investors placing orders should note that if the full extent of the Rump is not covered, then a bargain is expected to be executed at the maximum available, single clearing price for the actual size of the book. The decision to sell Ordinary Shares to any qualified investor shall be at the absolute discretion of finnCap (after consultation with the Company's investment manager).

The Subscription Trustee will distribute the proceeds of any sale (less any related subscription costs and other costs and expenses) pro rata to the persons entitled thereto, provided that entitlements of under GBP5.00 shall be retained for the benefit of the Company.

Full transcript:

[greenrichard] 02/12/2020 12:12

The trustee will be exercising the outstanding subscription shares. You need to read the full RNS. BTW, they were not warrants.

[noirua] 02/12/2020 10:35

Early doors but pre-market across the pond sees rises in gold and silver shares stretching out to 5%. Biggest rises in small and medium caps again.

[noirua] 02/12/2020 10:10

The strike price of an option is the price at which a put or call option can be exercised. It is also known as the exercise price. Picking the strike price is one of two key decisions (the other being time to expiration) an investor or trader must make when selecting a specific option. The strike price has an enormous bearing on how your option trade will play out.

[vacendak] 02/12/2020 09:35

Good, now that the capital structure is simplified, GPM should be better understood by the everyday investor and act as a "one stop shop" for exposure to gold/PM miners as it is meant to be.

Now, to see what they will do with the inflow of capital.

[noirua] 02/12/2020 09:09

Subscription Rights in shortened form:

Following this exercise, 10,336,782 Subscription Shares Rights remain unexercised. In accordance with the terms and conditions on which the Subscription Shares were issued, the Company has appointed a trustee (the "Subscription Trustee").

It is intended that the full number of Ordinary Shares that would arise from the exercise of the outstanding Subscription Share Rights (the "Rump") will be sold by finnCap by way of a secondary market placing executed at the maximum available, single clearing price.

However, the Subscription Trustee reserves its absolute discretion to execute bargains in such sizes and prices as it deems appropriate to the interests of the outstanding Subscription Shareholders.

Qualified investors (as defined in section 86(7) of the Financial Services and Markets Act 2000 (as amended)) considering participation in the secondary market placing are advised to contact finnCap as soon as practicable. Orders for the placing should state the number of shares to be purchased and the maximum purchase price (or confirm that the investor is willing to trade "at strike").

Investors placing orders should note that if the full extent of the Rump is not covered, then a bargain is expected to be executed at the maximum available, single clearing price for the actual size of the book. The decision to sell Ordinary Shares to any qualified investor shall be at the absolute discretion of finnCap (after consultation with the Company's investment manager).

The Subscription Trustee will distribute the proceeds of any sale (less any related subscription costs and other costs and expenses) pro rata to the persons entitled thereto, provided that entitlements of under GBP5.00 shall be retained for the benefit of the Company.

Full transcript:

[ohisay] 02/12/2020 09:00

Yes ..yesterdays diluted NAv would have been around 60.4p on this new basis.

[bonnard] 02/12/2020 08:54

It does mean that the NAV including warrents actually exercised will be about 2p higher than if all warrents were excercised. So it should add a couple of p to the share price.

[atlantic57] 02/12/2020 08:51

A surprisingly High member of warrants have been converted given the sharp fall in the share price

In very rough figures it looks like 66%

[noirua] 01/12/2020 15:54

Diluted NAV at 58.57p - 46.14p = 12.43p or 21.2% discount.
Diluted NAV-bid: 58.57 GBP - 49 bid GBP = 9.57p or 16.3% discount.

[arbus5000] 01/12/2020 11:35

wrt to the trustee, the managed/staggered sale of the exercised opts would be the optimal way, similar to how brokers manage share repurchase programmes if possible.

[noirua] 01/12/2020 11:27

Gold shares across the pond are up 3% to 8%.

Those who bought GPSS between 0.6p and 1.2p may well be laughing all the way to the bank if matters hold firm. I've converted mine so there you goes.

Updated 11.51am

[arbus5000] 01/12/2020 08:57

King - many thanks for the link

[king_baller] 01/12/2020 02:15

hxxps://youtu.be/ooxDRCsbB5s

From 21 minutes 30 seconds is GPM management.

If the link doesn’t work then just google ‘YouTube MelloTuesday - Investing in Gold, on 24th November’

Very positive. Very exciting.

[ohisay] 30/11/2020 20:45

I must say I am entirely relaxed about my 25k warrants converting to shares at 46p given the indicated discount to NAv ..aside from anything else Iran etc could blow up bigtime in the next 2 months .

[12string] 30/11/2020 17:21

Interesting that the retracement of gold and GPM from their recent highs has been, in relation to their March 2020 lows .... 50%.

[noirua] 30/11/2020 14:01

So far no $50 to $70 spike in the gold price to take us to $1,820 to $1,840. Hopefully the Bitcoin recovery will help some how.

Diluted NAV at 58.39p - 46.14p = 12.25p or 21% discount.
Diluted NAV-bid: 58.39 GBP - 46.20 bid GBP = 12.19p or 20.8% discount.

[...]

[jestercat2] 30/11/2020 11:54

Peel Hunt loading up I see!

[12string] 28/11/2020 16:49

@ken,

Seems that although Joe Biden has announced his $7 trillion fiscal stimulus plan, there's concern that a Republican majority in the senate will resist. Even though the Fed chair is begging for the US govt to step up. If Democrats win the two senate seats going in Georgia 5th Jan, it's game on IMO. Stimulus that puts $$$ in people's pockets is what I think will raise sentiment in gold/silver again. Trump is out and his support for the two Georgia Republicans could prove to be a negative effect.

Maybe!!

[papillon] 27/11/2020 20:54

The gold price dropped back to the 200 day MA in March