Golden Prospect Precious... Share Discussion Threads

[wizard7] 11/7/2013 16:37

I think we'll see the end of this move over the summer - most (esp me!) will miss the very bottom but that's fine - having been so badly burned on the way down I want to know it's going to go up again before I buy back....I think Jul and Aug NFPs and FOMCs will cause violent gyrations in PMs and miners...thereafter it may be time to rise again. Or not!

[wizard7] 27/6/2013 22:50

Gold smashed but miners up? aberration or key day I wonder??

[wizard7] 20/6/2013 14:33

Why on earth would anyone do that?...some sort of tax loss break?

[mozy123] 20/6/2013 13:46

Another dummy has bought some at 130p lol

[stevieweebie2] 20/6/2013 09:38

How is that width comin on now Mozy.

I have actually deleted RRS and GPM from my portfolio as I cannot bear to look lol, can you believe it, the head in the sand approach actually works if you do not need the capital.

have a nice day an all that!

[mozy123] 13/6/2013 18:15

Discount is wide here now!

[jimbo55] 13/6/2013 15:19

At least you didn't sell out and buy the Nikkei at the high. ;)

[kickstart] 30/5/2013 12:46

Makes sense Budvenwiser. I think many of us have taken a pasting the last couple of years and it is the massive discount that attracts me here together with the decent portfolio mix they have. I noticed when they were over 120p the discount to NAV vanished so at least you have a better chance of making money with a bit less risk than individual picks. I still have a couple of others like SHG and MML that I think are seriously undervalued but this gives a balance.

[budevenwiser] 30/5/2013 11:02

Ditto kickstart I bought also this morning for the first time in years , I have'nt finished yet, it makes sense that you spread your risk among a basket of miners at the moment as there could be a few profit warnings down the road .
I may miss a much higher % gain than just buying a couple of bombed out miners but to say I have been crushed this passed couple of years is an understatement but I will be able to sleep at night and still have exposure to some quality world miners and buy them at a discount.

[kickstart] 30/5/2013 10:43

Bought back in this morning these are as 'cheap as chips' at the moment with a massive 23%-25% discount to nav. US miners had a good rally yesterday even though the overall market fell. If Gold can stay the right side of $1400 we may be in for a nice run up for pm shares. IMOP DYOR.

[stevieweebie2] 20/5/2013 10:42

chaps

Very interesting chit chat and I have thought about all comments over the weekend, I personally think that the smaller miners here are the ones who will do better in the early stages, anyhow, the fact is that on balance I am not selling, if I assume that I may make 10% elsewhere and this drops another 10% but breaks even once again in year 2 then I figure I am much better sitting it out and playing the long game.
the problem I have is that despite all the pundits on KWN, A Maguire, Jim sinclair etc, I really don't see a short term driver that's going to kick start the uptrend!!!

[wizard7] 20/5/2013 09:32

I am certainly of the opinion that the fundamental economic gold and silver argument will win out in the end - but as tonsil says the flow of money from heavyweight entities is agin us for now. When I spoke to John Wong a few months ago he was positioning the fund in big miners as that is where he felt recovery would come first - intending to then speculate on small firms if sector revival took hold - seems a sensible strategy. Just don't know how much further it could fall - if the equity rally continues for another couple of years as many say it could, then heavens knows what it will do - $1100 gold for a year could seriously impact share price here I would have thought... Dunno ultimately - it's all very difficult this investing lark - when it is going against you anyway! IMO bla bla bla

[bluelynx] 19/5/2013 12:23

tonsil

Yes I agree with that, and have slow been buying in to quality producers lately but the falls continues, think I'll just not look any more! LOL. I may just put the rest of my cash into GPM because it looks a very good bet medium term.

[tonsil] 19/5/2013 12:00

buying now takes real guts - you have the fed and hedgies agin you.
But you have 2 bilion little people who are buying physical and governments that are stocking up their reserves quietly. If you are feeling sick we are near the low, but even then it can go lower so plan any further investment in tranches at different levels. It cant stay down forever as mines will be mothballed and then scarcity cuts in. It is however a long game and could play out over a couple more years. Maybe a diversification into Palladium might be an alternative strategy, where consumption is so close to availability that there are already supply problems looming.

[bluelynx] 18/5/2013 22:51

wizard

I do not own any GPM shares, but do you really think 20p or 15p will be realized, surely these are quality gold miners that GPM have invested in and they are currently valued to all go bust. Which I imagine most will not go bust therefore in time they will improve in valuation.

I am currently very heavily invested in US and Canadian listed gold miners so I too am suffering heavy losses 32% currently and it is very scary seeing the value of them fall so quickly over the last few weeks specially. I may consider selling some so as to protect me from more losses and having some cash to reinvest at lower prices. But there is no doubt that Gold and Silver miners are incredibly cheap at present prices, but they could get cheaper given that all selling is so indiscriminate and bears no relation to true value and fundamentals of the companies concerned.

I dread the opening of the US and Canadian markets because it seems that 3-5% is knocked of my portfolio most days! But I keep telling myself that sentiment is so very bad toward this sector that the contrarian in me says now is the time to buy not sell, they say when you buy it should make you feel sick and that is a good sign that the market bottom is very near. Time will tell I guess.

If sentiment does improve from the current very low level then given the extremely low valuations and an improving gold price I hope there could be a similar sharp rise in the valuations of gold and silver miners much like 2008 to 2011, I live in hope.

[wizard7] 18/5/2013 16:59

There is every chance of a correction in Japan, New York and London - but failing a black swan there doesn't seem much to derail the momentum. Yes it is all built on hot air and will come a-tumbling down at some point - but when it does it will take all sectors down with it - so who knows what to do for best? Not me that's for sure. BL - would you be happy holding these down to 20p?...15p... depends on what % of your pot is here or in miners overall - I had too much for too long and have paid with half my capital. Have to re-learn to go with the flow in some markets that are going up but keep stop loss much more clearly in mind... All IMO etc etc

[stevieweebie2] 17/5/2013 17:14

I know cut your losses and run your winners but it pains me, any recommendations?

[wizard7] 17/5/2013 14:59

Why locked in? sell out and stick it in Japan or India...??!!

[stevieweebie2] 17/5/2013 14:48

Hhmmm

very soon to be in the hole for 50%, well and truly locked in, I will be a long time getting my money back here at this rate, never mind QE59 will sort the problem out

[mozy123] 16/5/2013 16:22

Wow what a disaster today.

[stevieweebie2] 13/5/2013 16:15

that would explain the upwards momentum in the share price then lol.