Golden Prospect Precious... Share Discussion Threads

[professor pettigrew] 08/7/2016 22:05

hazl and others - many thanks.

[dogberry202000] 08/7/2016 21:34

That's similar to my experience, bamboo2, five years of probably the most testing bear five-year correction ever within perhaps any bull market has trained most of us to take small profits, when we were fortunate enough to make them. Probably best to have mental stops.

[mad foetus] 08/7/2016 20:30

I'm thinking buy and hold as well. Worst case scenario, gold drops sharply, back to $1200, and the so probably goes to around 20p. Very unlikely and won't happen quickly imo. But the best case scenario? Well, the profits of miners grow pretty quickly from here - any increase in pm prices goes straight to bottom line. Gold at $1,800 again and the share price here would be what? £1.50? £2? More? Just looks a lovely risk reward ratio and hedge against so much.

[dogberry202000] 08/7/2016 19:23

After early falls and an unsteady first two hours, PM stocks are making good progress again in New York. All grist to the mill for GPM.

Brucie, I sold around 10k for 35p some time ago, only to have to buy them back at far higher prices later. Not worth the trouble or the expense. There will come a time to lighten up but that time may be several months away. Let's make good money out of this PM bull market, Brucie!

[brucie5] 08/7/2016 16:41

Quite agree. This is a buy and hold for the medium/long term. Commodity bull markets can run for years; remember oil from 2002 - 07, and what happened to the likes of TLW and SIA. To my mind, current circs point to a secular bull run, while funds up their pm weightings from c. 1-5%, or higher. That kind of run up can become parabolic, as then there's always the overshoot.

[dogberry202000] 08/7/2016 15:49

Took the chance for another modest top up. Selling nothing as it's not worth trying to play this.

There will come a point when dividends will become a real possibility. That may yet be a little time off but the potential grows with each week.

If the top of the PM complex is seen around 2021 Lord only knows what price GPM will be then.

[davebowler] 08/7/2016 15:28

Net asset value as at 07.07.2016 of

Golden Prospect Precious Metals Ltd

(TIDM: GPM):

NAV-bid........... : 56.12 GBp

[mad foetus] 08/7/2016 12:04

Also bear in mind that it will take longer to transact with certified shares rather than those that are, to use the technical term, dematerialised. If you want or need to sell in a hurry it could cause you difficulties.

[hazl] 08/7/2016 11:19

Well done people here.I certainly made a mistake by selling out early on regardless of profit made.
Don't believe in chasing shares, though if it retraced at any point you never know.
I am really replying to Professor Pettigrew's question.
I have some certificated shares and your broker should set it up for you.
In practice I have found that I had to persist for it to happen and it wasn't expensive at the time but trying to sell them again wasn't so easy.
I don't know if it has changed since but only certain brokers would do it and I was charged a lot more than I expected to sell them.
Understand why you are interested though but worth bearing in mind.

imo

[professor pettigrew] 07/7/2016 22:43

bamboo2/mad foetus - many thanks for your replies.

I'll give my broker a buzz in the morning.

Thanks again.

[mad foetus] 07/7/2016 18:00

Successful retest and sterling off 2 cents on midday. I feel at the moment gold and gold miners is about the safest place to be.

[mad foetus] 07/7/2016 17:55

pp, as it is a Guernsey company I'm not certain about the position but suspect they probably do need to give you a cert if you want one. Call the administrator, the ones in the Channel Islands are invariably helpful and the name at the bottom of any RNS should be able to assist

[bamboo2] 07/7/2016 17:47

PP, perhaps your broker could tell you? I would imagine there may be a charge for paper share certificates.

A successful re-test of $1350? Looks good so far...

[professor pettigrew] 07/7/2016 16:27

Obviously nobody knows.

Thanks for the massive response.

[davebowler] 07/7/2016 16:14

Net asset value as at 06.07.2016 of

Golden Prospect Precious Metals Ltd

(TIDM: GPM):

NAV-bid........... : 56.99 GBp

[dogberry202000] 07/7/2016 16:13

GPM made my first target of 51p before this reaction. My second target in the early 80ps still holds for late summer.

[professor pettigrew] 07/7/2016 15:07

Anyone tell me, is this stock available in certificated form?

[mozy123] 07/7/2016 15:03

Bring up the 10 year chart. Look at GPM 400% move when gold moved to $1900.

And to think of all the monetary easing thats happened since $1900 gold.

£2.00 per gpm if Deutsche bank goes down! :)

We wont be complaining about leaving the EU then! :)

[stevieweebie2] 07/7/2016 13:53

Mad F
Re using this as a Hedge on Sterling as well as a gold/silver play is why when i Had my finger on Sell a few mins ago I decided to hold and play it out.
Happier to have this than not.

[panic investor] 07/7/2016 13:38

mad f, added to that those miners of gone to hell and back and in that process have sorted their costs out. Take HOC, all in cost is around $13 to extract plus the currency advantages.

[mad foetus] 07/7/2016 13:33

got some at under 50p, happy with that.
It is all about NAV, but the underlying cos all have their action overseas and so the nav will increase if sterling drops against the dollar. That's how I view this company: as a play on both gold and on sterling weakness. And of course, as others have said, the profits of gold miners start increasing very rapidly from this point. We'll see.

[panic investor] 07/7/2016 13:30

its all about NAV with this share

[mad foetus] 07/7/2016 13:22

well, I'm sorely tempted here. I don't like the fact it has risen so sharply, but I can see a sudden rush to gold at some point and am more fearful of missing out. Gold is currently 1,360 and sterling 1.315: it could very quickly move to 1,500 and 1.20 imo. Decisions.

[panic investor] 07/7/2016 13:12

silver and gold bashed before US data imho. It makes the recovery from lower levels !