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GPSS Golden Prospect Precious Metals Limited

0.65
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Golden Prospect Precious Metals Limited LSE:GPSS London Ordinary Share GG00BD05Z551 SUB SHS NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.65 0.10 1.20 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Golden Prospect Precious... Share Discussion Threads

Showing 301 to 323 of 550 messages
Chat Pages: 22  21  20  19  18  17  16  15  14  13  12  11  Older
DateSubjectAuthorDiscuss
25/7/2020
07:28
Simon Cawkwell


Meanwhile gold continues to power ahead. So I yet again bought Golden Prospect subscription shares (LON:GPSS) – this time at 20p. Bear in mind that the subscription price is 46p by the end of November. This contrasts with the current bid of 68p. I see no point in shorting the ordinary against the subscription shares.

atlantic57
24/7/2020
14:17
Thanks for that toffeeman. Appreciated.
marfox46
24/7/2020
13:58
GPM is the stock.

A while back holder were issues with GPSS

Basically these give you the right to buy GPM at 46.2p by Nov 30th 2020 after which they have no value.

At present the 'subs' + the subscription price =

20+46.2 = 66.2

The price of GPM is about 67-68 so the subs are at a slight discount.

Basically the subs are a geared play on GPM which is a geared play on small gold and silver miners.

I hold both.

toffeeman
24/7/2020
13:50
Dec contract is well over $1930, and Feb is touching $1940.
steve73
24/7/2020
13:37
Gold above $1900 August delivery
32campomar
24/7/2020
13:22
Hello everyone. I've not had anything to do with GPSS before but, in a nutshell, can someone briefly explain the difference between GPSS and GPM. Cheers.
marfox46
24/7/2020
13:04
Gold spot $1902!
phoebusav
24/7/2020
10:56
Silver Chart:
noirua
24/7/2020
09:27
Ken mitch that is very helpful thank you.
atlantic57
24/7/2020
09:21
atlantic57

If sub share holders let the warrants lapse and the trustee is unable to exercise them because share then is lower than that 46.1p exercise price, warrant holders will get nothing at all, and you’ll hear nothing and suffer a 100% loss. If the share is well below that 46.1p exercise price GPM won’t even bother appointing a trustee as there would be no point doing so.

BUT there would be a glimmer of hope if share is near to the exercise price as the trustee is often given a fortnight or so to try and exercise. So if the share rose again just after expiry date, lapsed sub share holders might get a little back after accounting for trustee costs.

Surely though, if gold and silver and GPM go in to full retreat mode most of us will have sold and taken our profits? It really would be crazy just to let the recent fantastic fast GPSS gains wither away.

Like so many others I’m dreaming of far more to come, but with my initial stake now up 5 fold (and some bought way lower than I did) I have now taken out my stake so as to run a still large stake for free. That is a tactic worth considering on up days, but even then it would be crazy to let the profit on the now “free” stake drop too much. I’ve a long record of selling some far too soon and I only ended up with 15% of my original 200000 stake bought at 0.85p left when Geiger Counter subs went up 59 times. So it’s a balance between being too greedy or investing in subs without taking too much risk. There’s no right way and I’m quite confident that I’ll soon realise that taking out the total cash invested in GPSS was too soon!

There is always the option to switch back from sub to share and where there is no deadline date.

kenmitch
24/7/2020
08:56
The Canadian and USA markets suffered profit taking yesterday with only Newmont in the blue. Silver shares were hit the hardest. This despite higher gold prices and silver steady at its peak.
noirua
24/7/2020
07:40
I have contacted my broker about the procedures for conversion.They want a minimum of 30 days notice.

If you are still holding the warrants at 30 November and they become worthless.
How do the trustees interact with warrant holders,

atlantic57
24/7/2020
03:28
Appreciate your thought ken.. thanks
steve73
24/7/2020
03:28
double post... bouncy mouse..!!
steve73
23/7/2020
16:23
Excellent and informative posts once again Ken. Many thanks.
phoebusav
23/7/2020
16:11
Perhaps of interest so worth putting in a separate post.

What IS surprising about GPSS is the large numbers trading them. In the past warrant trades both on shares and Investment Trusts were so few and far between that even one small buy or sell could move the sub/warrant price. The lack of investor interest in them and with covered warrants is a key reason there are now hardly any left.Subscription shares used to be a fabulous way of getting far more upside with Investment Trusts than by investing in the share, as is the case now with GPSS.

The surprising extra interest in GPSS could well be because of posts on ADVFN and also on Mike Walters (ex Deputy City Editor Daily Mail and always a friend of smaller investors even then) subscription Investment site, where I posted on them for many years.

Also for those who might not realise this. Warrants and Subscription Shares are exactly the same thing, but if called a Subscription Share they can be held in ISAs but if called a warrant they can’t!

kenmitch
23/7/2020
15:53
Steve.

I can’t suggest a likely figure as in the past it varied so much from sub to sub very close to expiry. What often happened was the spread widening horribly near to expiry date with selling price from memory as much as 30% below what the sub was worth.

But this worry is a few months away and anyway can be solved by exercising as many as we can afford to, and then if wanting to realise the profit by selling those shares immediately. And there is a trustee if holders want to risk that. Trustee just needs to exercise so that the Trust gets their cash and is not usually that bothered about the price they do it. And the other option is to sell in early November....or as soon as clear signs the spread is widening and sell price discount getting bigger.

But for now lets hope the gold and silver prices and GPM holdings continue to do well to help GPSS sell price to get to the 20s or better still the 30s well ahead of final expiry date. fwiw it’s unlikely the current discount will widen much and if plenty of buyers it could narrow.

kenmitch
23/7/2020
15:22
ken - what sort of discount would you expect close to maturity... as a % of the conversion cost... 10% (4.6p) or more?
steve73
23/7/2020
14:46
Yes; worth 21p but idiotic though it is, in the past it was quite common for sub shares well in the money to trade at a discount, and unfortunately GPSS is doing the same and so could well continue to trade at a discount. Which means technically they are at a bargain price, and they will continue to outperform the share by some margin, both up and down. Hope share price gains continue to get GPSS in to the 20s.
kenmitch
23/7/2020
14:42
Spot gold nearly $1890.
phoebusav
23/7/2020
13:54
18.59p NAV according to today’s NAV, using the diluted NPV figure.
highly geared
23/7/2020
12:39
GPM bid 66p - GPSS excercise price 46.15p + 2p time value = 21.85p. I agree 21p seems appropriate.
phoebusav
23/7/2020
12:36
GPM 68p to buy so this should be 21p minimum.
32campomar
Chat Pages: 22  21  20  19  18  17  16  15  14  13  12  11  Older

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