Golden Prospect Precious... Share Discussion Threads

[webbski1949] 24/12/2020 13:30

Ultrasharp.
Cant read your links...it requires me to subscribe :-)

[arbus5000] 24/12/2020 10:29

that makes sense.

[12strings] 24/12/2020 10:11

Perhaps returning £££ to GPSS shareholders would have incurred costs too

[arbus5000] 24/12/2020 10:11

thank you - i do watch and and enjoy Palisadases radio, and will consider subscribing to that website if of value. I can use the proceeds of my lapsed GPSS shares to fund the subscription (at a clip of approx 60k shares per month)


likewise, i wish every one a merry Christmas and a happy new year!

[12strings] 24/12/2020 10:09

Airbus, Edit: I assume the Trustee got sufficiently higher than the exercise price, and so completely covered their costs.

[stevieweebie2] 24/12/2020 08:52

HI all

its free on Twitter if you type in JRB's name you will find it, its also on Palisdases radio on youtube, happy to help.

ps, just topped up here again this morning, merry Christmas all.

[arbus5000] 23/12/2020 16:01

12string - your opinions are always welcome, just as they are from the rest of the english speaking world.


edit: the puzzling thing is, if the Trustee sold the lapsed shares at below exercise price, why did it return anything to the lapsed shareholders? generosity? spite?

[noirua] 23/12/2020 14:57

It looks as if we are in for a switchback ride in 2021 for gold and particularly silver and outpaced in that regard by Bitcoin and other cryptos.

Thought for the day: To err is human; to edit, divine.

[12string] 23/12/2020 14:54

I have to say to those whose chose to "lapse" and then expect to make a profit without putting up the 46p themselves have been naive and rather cheeky. The Trustee covered the exercise cost plus their expenses, and got all the GPSS shares exercised for the GPM Trust.

Lapse means lapse

[arbus5000] 23/12/2020 14:24

based on the current mid price for GPM of 53.4, that implies a discount to NAV of 15.4%.

the discount is narrowing, and is now inside the trailing 12 month average.

[noirua] 23/12/2020 14:15

Golden Prospect Precious Metals Limited (TIDM:GPM): NAV 63.41p

[arbus5000] 23/12/2020 13:28

ultrasharp - i don't know why you keep posting links to that website. To view anything on it, you have to pay 6 quid a month.


Edit: for diagnostics purposes when i click on it, i get the following error message:

"This site can’t be reached Check if there is a typo in xxx

If spelling is correct, try running windows network Diagnostics.
DNS_PROBE_FINISHED_NXDOMAIN


."

gotta love Chrome!

[arbus5000] 23/12/2020 13:13

what next, are you going to start critising my spelling & grammar? I already told you that you were right all along, and I apologise that you do not understand this.

when i take the moral high horse like you are doing - i often get the response 'Ok Boomer'. Go look up what that means and complain about it on your own thread, i am sure your minions will follow you.

[kenmitch] 23/12/2020 12:57

Pro membership? Another of your assumptions.

[arbus5000] 23/12/2020 12:51

in that case, Ken, why dont you create your own thread where you and your chums (limited in number as they are as you point out) can admire your own posts? I am sure your pro membership allows you to do this. You can bar any dissent which clearly upsets you and for this i'm very sorry.


Edit: Working for PWC is not an accusation - its an aspiration for many What happened with Enron and Arthur Anderson is historical fact.

[kenmitch] 23/12/2020 12:41

arbus5000

Any fair minded readers will note your unwillingness to apologise for being wrong. Instead you just make new idiotic accusations. There’s no point debating with you further. Your the sort of poster that ruins too many ADVFN threads. Too often on ADVFN it’s the blind leading the blind with quality posts and posters rubbished to such an extent that the threads end up with hundreds of rubbish posts a day, with the quality of the posts matching the lack of quality of that share!

On ADVFN by far the best threads are those with very few posters but where the few that do post are clued up and respectful towards their fellow posters. Needless to add you haven’t appeared in any of those!

[rougepierre] 23/12/2020 11:54

I was delighted to pile into the collapsing sub shares and pay the call...people were clearly dumping them willy nilly...

As a result we now hold 500,000 at an average of 49.5p a discount of 18% to yesterday's NAV was 65.57...

Best diverse, safe, leveraged gold/silver play going IMO...

PS We also hold HOC, PAA, ADT1 and SOLG, all with silver/gold content...

[arbus5000] 23/12/2020 11:48

it is worth noting that Fincap, according to their website, is an employee owned company.

Many of their key staff are ex-PriceWaterHouseCoopers, who left it since 2000.

In 2000, there was a company in the states called Enron, which collapsed. Its auditors at the time were an outfit called Arthur Anderson (Wikipedia: Big 5). Many of those auditors left and ended up working at PWC. The PR staff at PWC go through great pains to disassociate themselves from Arthur Anderson - after all the majority of PWC staff, and including the ones that remain, have no association with AA, (e.g most new graduates were born after 2000.)

[ultrasharp] 23/12/2020 11:09

Jordan Roy Burne has called it correct so far, so I'm pretty confident his bullish forecast for gold is correct!

[arbus5000] 23/12/2020 10:56

i am in awe in your wealth of experience in this matter.

My mistake is taking the term 'Trustee' and reference to transparancy & regulation literally.

Yours is rambling about your personal experiences, without contributing any new information, except that what is gleaned from hindsight, which is 20-20- and then claiming you were right all along. This is in addition to your disclaimer earlier that implied anything can happen - which is exactly what happened ;)

I am sure your chum, Ultrasharp will weigh in shortly - quite clearly both of you have a premium membership, so you can down-vote posts that don't subscribe to your world view.

[kenmitch] 23/12/2020 09:34

“Professionally I come from the institutional side.”

arbus500. IF that’s true then why is your understanding about the trustee so poor?

I DID warn several times about the risks of leaving it to the trustee.

e.g post 66 on 23rd October, 144 on 22nd Nov and 176 on 25th November, as well as posts earlier than those.

EDIT.

In earlier posts I gave specific examples. E.g a trustee failing to exercise even though the share price was well above the exercise price.But also how when I risked the trustee with Vietnam Holdings warrants, the trustee got a much higher price than if I had let them lapse. So my posts were balanced throughout and gave the pros and cons of risking the trustee route.

At no time did I post to claim the opposite, as you wrongly claimed!.

Best to check facts before making your inaccurate accusations?

Your comment to Ultrasharp sums you up. His comments were spot on too. You simply do not understand what the role of the trustee is when looking to exercise lapsed warrants or subscription shares.

It’s a shame that sometimes on ADVFN bbs some posters can’t distinguish between incompetent posters and those who aren’t and so take more notice of people like you.

[ultrasharp] 22/12/2020 21:57

Spot on kenmitch. It's all very well for Noirua to boast that he got a far better price, but the trustees have an awful lot of shares to dispose of, far, far, more than Noirua. He could also take the risk that the GPM price would increase and not fall, whereas the trustees couldn't since their remit was to get the money for GPM, not ex GPSS holders as you stated kenmitch. The trustees were always likely to sell the lot ASAP. Selling such a lot of shares on the market would crash the price. So you have to make them as an attractive proposition as possible for an institution to want to buy them, hence the discount to the then current share price

[kenmitch] 22/12/2020 21:23

I posted several times about the risks of letting the subs lapse and risking the trustee. The job of the trustee is NOT to try and get the best price possible for sub share holders. It is simply to exercise the subs so that GPM get the cash. So they did the job for GPM. And the trustee will not hang around hoping for a higher share price when the share price is dangerously close to the exercise price, because the share might fall below the exercise price and then the trustee would be unable to exercise and the Trust would lose out on £millions. So the trustee will jump at any opportunity to exercise.

Also because so many shares are involved it is not unusual for the trustee to exercise well below the share sell price at the time. That too was explained here in advance. And hence the advice to exercise as many as the investor could afford to.