Golden Prospect Precious... Share Discussion Threads

[mozy123] 23/7/2012 16:05

This has been smashed today. HUI gold hardly down much.

Could be prime for top ups at 70p

[wizard7] 17/7/2012 17:44

I wish I was a wiz - I wouldn't be hanging around here that's for sure! QE, when it comes, will turn things around for PMs, stock markets (temporarily) and miners IMO...so around here might be a good place to buy if you are not looking for a quick buck. Or not, of course!

[dupree] 16/7/2012 13:04

Jimbo you do make interesting and debatable point about the GPMS price, which you thought too expensive at 13 p a few weeks ago

Of course I considered that before buying. I looked at the history of the value placed on the subs by the market. I decided to go with what the market had been saying about the value of the subs rather than go with what I might have thought about them seeming a little pricey.

Perhaps the market in the subs is not really lively enough to support that approach.

[dupree] 16/7/2012 12:59

Wizard seems to be the wiz. My GPM subs are well down since I bought in last few weeks ago at 13p=ish

Still, doesn't mean I haven't called it right over all. Patience would only have got them cheaper, not told me if I was right or wrong to buy them at all.

[dupree] 16/7/2012 12:54

Don't understand your question Mozy

all this gold bsiness is languishing a bit isn't. This gold miner bounce back is taking its time or going the wrong way altogether!

[mozy123] 03/7/2012 13:37

Someone excersied 200 options and spend £1.30 a share to get them. Why would anyone do this?

[energiser01] 02/7/2012 15:23

Update - Directors (Some names in common here, with this and other NCIM trusts)

Don't know much about Preatorian or how well it'll be recd in this market. Best hope is it attracts some new money and then they buy more shares in the holdings of Golden Prospect, Geiger and New Energy (which share quite a few common holdings) - like Ausgold (which could do with a kick in the preverbial)

Mining investment company Praetorian Resources Ltd plans to join Aim in early July.

There are no real limits on what geographies and types of mineral that Praetorian will invest in. No more than 20% of net asset value will be invested in any single company.

Guernsey-registered Praetorian ( has appointed Charles Cannon-Brookes as its investment manager and Malcolm Burne is a non-executive director and a member of the execution and advisory team. Both men are also directors of cash shell Longships. The other member of the execution and advisory team is fund manager Richard Lockwood who is a Longships shareholder and a non-executive director of Praetorian. Burne and Lockwood have been involved together in the company that became Ambrian Capital and Golden Prospect Precious Metals. Praetorian chairman Robert King is also a director of Golden Prospect Precious Metals.

Former Kalahari Minerals boss Mark Hohnen is a non-executive of Praetorian

plus link to AIM newsletter.



dyor etc..

[mozy123] 01/6/2012 16:58

Will do some analysis on this over the weekend against the HUI (rocketing today)

May get a nice buy signal first thing on wednesday monring!

[wizard7] 31/5/2012 12:39

Miners certainly well down but I wouldn't sell phys PM to buy shares yet. More stock market grief ahead over the summer and I reckon more opportunities before things get interesting in the autumn. IMO etc...

[weyweyumfozo] 30/5/2012 18:30

Have a look at the lower half of the bottom chart in this article:

[wizard7] 28/5/2012 16:30

Unexpectedly strong rise - might thus unwind a bit I s'pose and offer us a chance - on the other hand I will probably watch it rise to 130 before buying again...that's what I usually do!

[mozy123] 28/5/2012 13:16

Just a shame i did buy any at 70p lol

[mozy123] 28/5/2012 13:15

Looks very strange, the Hui has moved up but not by the %'s that GPM has.

[2350220] 28/5/2012 13:13

Any idea as to why the nice jump up for the past few sessions?

Not complaining mind.

John

[dupree] 11/5/2012 15:48

Yeah. Although 2p, well that would be giving them away wouldn't it.

I take comfort that there is an active market in the subs, and the price of the subs has doubled and halved and doubled and halved again all in short time.

They are now at the halved stage, at which price I have bought some.

I am very exposed to bullion price, it seemed a no brainer to me, in that circumstance, to switch some of that to these subs.

If bullion recovers to average prices I paid over last six months I break even on bullion.

If GPM recovers to where it was just a few weeks ago, anytime this year, hopefully I double my money on the subs.

As I am banking on gold picking up again I might as well leverage like that and hope both gold and GPM recover.

[wizard7] 08/5/2012 18:45

Fres down to £14 and looking very weak, other big holdings down lots too...gloomy times. For now.

[jimbo55] 04/5/2012 13:51

Given that the subs, GPMS, are exercisable at 130p, they actually still look expensive to me right now - given that the trust is trading at around 84p. For the sub shares to be at fair value, the GPM ordinaries would need to be trading at 143p at today's prices. That's not to say that a potential doubler in GPMS is unlikely, if Gold suddenly surges north over $1700 per ounces on Monday though......

Personally, for me to want to take the risk of loading up heavily on the sub shares any time soon, they would need to be trading at sub 2p. You must remember that when the subscription shares expire, they will be worthless if not in the money. As such, they are a leveraged play on the underlying investment trust. This, in turn, is a leveraged play on the Gold price and the logic that Gold miners share prices must eventually catch up when the Gold bull run resumes.

[dupree] 03/5/2012 23:36

I couldn't remember the ticker 'HUI' so I compared GPM to GDX which I hope is a gold miner index of some sort.

GPM are not outperforming that. Given the significant spread on GPM prices, could one not do better by buying into an index. How do you do that?

Also, if one supposes recent sharp valuation changes can happen again, mirrored in reverse order if market sentiment changes again, then while GPM shares can go back from 85p to £1.20p, GPMS subscription rights will simultaneously go from 13p back to 26p

Am I wrong that the subs is the place to go if banking on a gold miner bounce back

I can see it seems more risky in that they can eventaully wind up worth 0.0pence, but if a bounce back occurs there is an opportunity to profit take to reduce exposure and to keep some subs longer for chance of a multi-bagger if GPM do get it right and beat the market or if the market gets more positive....say GPM get to 150p some time in 2012 or 2013, what's a 13.5p sub right to buy at 130p until late 2014 going to be going to be worth then?

btw I have already talked myself into this and put money where my moth is. Mouth. My moth has gone out for the night. The dust on it's wings is gold dust, the dust of power.

Thank you for your attention. Actually, I am usually ignored.

[weyweyumfozo] 02/5/2012 18:23

The Gold Inflation Trade is On: Bernanke Has Broken the U.S. Dollar Rally:


==========================================================================

Let's see what happens re. this guy's predications.

[energiser01] 02/5/2012 11:30

Update Regis

Looks like promising start and Garden well on track for sept....

full rel @

Quarterly Report to 31 March 2012
Page 1
HIGHLIGHTS
MOOLART WELL OPERATIONS
• Gold production of 26,683 ounces for the quarter (Dec 11 qtr: 26,025 oz).
• Cash cost of production A$519 per ounce prior to royalties (Dec 11 qtr: A$510/oz).
GARDEN WELL GOLD PROJECT DEVELOPMENT
• Project development continued during the quarter with focus on concrete works, CIL
tank erection, structural steelwork erection and pre-production mining.
• Cash expenditure on the development (construction and pre-production mining) of the
project during the quarter was $41.4 million (Project to date: $85.8 million)
• Commercial production forecast to commence in the September 2012 quarter.
• Development of the Garden Well Gold Project will take Regis total gold production to
around 350,000 ounces for fiscal year 2012/13
EXPLORATION
• Significant drill results from early shallow RC drilling in the southern area of Garden
Well including:
45 metres @ 1.22 g/t gold from 177 to 222m 20 metres @ 1.79 g/t gold from 178 to 198m
25 metres @ 1.41 g/t gold from 78 to 103m 20 metres @ 2.22 g/t gold from 54 to 74m
6 metres @ 6.88 g/t gold from 89 to 95m 11 metres @ 3.20 g/t gold from 70 to 81m
12 metres @ 2.02 g/t from 12 to 24m 48 metres @ 1.79 g/t gold from 28 to 76m
These results confirm that gold mineralisation at Garden Well continues at least 360
metres further along strike to the south.
• Significant drill results from RC drilling completed at the Anchor deposit including:
3 metres @ 4.15 g/t gold from 48 to 51m 2 metres @ 12.58 g/t gold from 112 to 114m
Estimation of a resource is underway at Anchor.
• Significant drill results from RC drilling at the Petra deposit including:
20 metres @ 1.12 g/t gold from 18 to 38m 5 metres @ 2.55 g/t gold from 46 to 51m
• Significant drill results from regional RC drilling at the Anchor South target including:
5 metres @ 5.49 g/t gold from 27 to 32m 5 metres @ 4.42 g/t gold from 29 to 34m
4 metres @ 3.91 g/t gold from 46 to 50m 8 metres @ 2.29 g/t gold from 43 to 51m
CORPORATE
• Gold sales of 25,702 ounces at a delivered price of A$1,547 per ounce (Dec 11:
27,278 oz at A$1,579/oz).
• Operating cash flow from the Moolart Well gold mine operation for the quarter was
$23.3 million (Dec 11: $27.9m).
• Cash and gold bullion holding at 31 March 2012 was $26.9 million (Dec 11: $40.9m).

dyor etc..

[dupree] 01/5/2012 14:57

GPM hav lost about or almost one third of value in recent weeks.
GPMS have lost about half of value.

If we were to forecast a bounce back to previous levels for GPM net asset value before too long, (about a 50% improvement) shuld we not expect a bounce back of similar proportion in GPMS, which would be approx 100% gain.

Last date to excersise GPMS substcription rights is end of November 2014. I make that about 2 and 1/2 years away

I'm gona take a punt. Ditch some of them gold price ETF's

Thank you to the person above who pointed me to what GPMS meant- I had noticed it in the biggest fallers ranking!

It seems to me there has been a widely held view that gold mining shares have languished compared to gold price. (There have also been those who see and explain coherent reasons for it.) Gold mining shares seem to have taken a special further pounding in very recent weeks.

[dupree] 28/4/2012 18:08

I think I'll get some of them GPMS in place of another gold instrument

[weyweyumfozo] 27/4/2012 19:42

Fingers crossed for the next week or so. I'd like to see RSI get to 60, but this is starting to look like a bottom. POG & POS seem to have found support this week.

[mozy123] 18/4/2012 19:18

Wey wey,

Nice chart from Jim. Looks compelling value in the sector. They must QE before the US elections so im steadily £ cost averaging into gold funds.

GPM, Smith and williamson, blackrock funds.

[weyweyumfozo] 18/4/2012 18:51

Scroll down a bit on the above link to see the comments that go with this chart: