Golden Prospect Precious... Share Discussion Threads

[llef] 25/7/2018 17:53

bit shocked to be honest - director buying in GPM!!

hooray

Golden Prospect Precious Metals Limited

Notice Regarding Purchase of Shares

Golden Prospect Precious Metals Limited (the "Company") advises that 100,000 fully paid ordinary shares at £0.245 per share (the "Shares") were purchased by one of its Directors on 25 July 2018. The Shares are part of a class of securities listed on TISE and AIM.

[spectoacc] 24/7/2018 09:19

This is being discussed as if it's a "normal" investment trust but as far as I can see:

- mkt value c.£16m
- 1.25% AMC, but..
- 3.16% ongoing charge, if HL is to be believed

Hence it's woefully undersized, will drop over 3% a year even with no change in underlying holdings, pays no dividend, and holds quite a few (too many?) illiquid stocks to even warrant a breaking-up.

NAV down 63% over 12 years, share price down over 70%. No dividend to reward patient investors.

Something clearly has to change, but unclear what can, nor what incentive there might be. Management still get paid.

Edit: Guessing may be a sell tip somewhere - stream of sellers & some taking below the bid on not large sizes (eg 17.4k sold at 23.75p, 8.7k sold at 23.62p).

[wizard7] 23/7/2018 18:33

Urghg. Got lots of these and, like most holders was underwater before today. Average down again? remember the glory days of 100p?... just Urghg. don't worry though - it's all about to change - this time next year Rodney...

[mikett1] 23/7/2018 17:05

Westgold resources (10% holding) dropped 8% today. But that obviously equates to a less than 1% NAV drop. Must be some distressed sellers.

[mad foetus] 23/7/2018 14:32

I'm not in this but with the current discount and market cap there must be some pressure to wind up the company and distribute all assets at NAV?

[dogberry202000] 23/7/2018 14:26

Investors frightened off because they think support in gold has been broken. Some newsletter/video writers have told them.

Nothing's changed, just capitulation. Poor sods. Congratulations to those who had the cash to buy dirt cheap shares.

[cl1nt1] 23/7/2018 14:13

I know the nav is a day out but it is 33% discount to nav

[wskill] 23/7/2018 13:55

has something happened to any of the investments .

[ohisay] 23/7/2018 13:47

Some gold support lines giving way.

[llef] 23/7/2018 11:46

just bought some at 24.26!!

[briggs1209] 23/7/2018 11:25

Wow. Somepne dumped a bunch here price 25p NAV 36p

[kenmitch] 06/7/2018 16:23

Buying back shares won’t make much difference. Many Trusts do it and evidence that it works is limited. Often the discount narrows for a while and then widens again when buybacks stop. What will get the share price moving is when sector back in favour and their main holdings start to do well.

[briggs1209] 06/7/2018 16:14

discount shows utter lack of faith in management - these guys should be trying to figure out how to buy their own stock

[dogberry202000] 06/7/2018 12:48

HUGE discount to NAV and maybe one more low in gold and silver before a bull run. It doesn't get much cheaper to get in than this! Bored,"stale bulls" being shaken out here.

[dogberry202000] 30/6/2018 13:14

WAF, one of the biggest holdings, "acted like a boss" in Vancouver on 3x volume!

[mozy123] 31/5/2018 13:55

haha sarcasm!

the only way this makes a return is if the world blows up.

[brugen] 31/5/2018 13:21

cl1nt1 - The board would have to be working on behalf of shareholders rather than NCIM for that to happen.

[cl1nt1] 31/5/2018 12:36

They might as well return cash to shareholders which will give a 33% premium to share price the way this is going.

[oooff] 30/5/2018 17:05

What is going on with their AGM. Does no one turn up ?

[brucie5] 22/5/2018 18:13

This is certainly one to watch. I was in it big time in 2016, along with holdings in other metals, which broke up still faster. But it's a sectoral thing, as in, when one moves, they all move. The clue then was a very significant degree of triangulation on the chart, at the 20p level; we may be seeing that again at 30p, though if it breaks downwards, it could be back to 20p. I generally see HOC and FRES as the canaries, to sing first.

[mikett1] 22/5/2018 17:34

Very big discount here. What are the ongoing charges for this investment trust? Are they really 3.16%?

[ohisay] 19/5/2018 05:25

Yes - but I still keep the faith in the light of fundamentals still being good.


And I treat it as a hedge too if its any consolation.

[stevieweebie2] 17/5/2018 13:07

This has been a brutal investment to hold for the last few years, I know its a hedge and my pension is no doubt soaring but wow, how to have money eroded.

[steve73] 16/5/2018 06:40

Mondays NAV was 38.66... cf. 29.9 closing on Tuesday.. that's now almost 30% discount.