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What are you all on about? I'm just having a bacon sandwich and it tastes just the same to me. Stay Safe. I'm
Red Sauce - Brown Sauce or No Sauce at all? :-)
What are you all on about? I'm just having a bacon sandwich and it tastes just the same to me. Stay Safe.
Seems to me they are just waiting for any excuse to drop the SP like the last Scally results. If your waiting for LTHs to sell or newbies to sell that have bought into this share for the long term, then you better pull up a chair take a paper receipt at the deli and take a seat.......cos we ain’t going no where, just out of shear determination and principles!!!!
Interesting. Back all through the autumn we heard constant whingeing about Berenberg not putting out a broker note, and about H&P not updating theirs.
Now, we see how much impact it has. Berenberg has a 33p note out, H&P a 30p note, and we're still sitting at 21p plus a fraction.
Broker notes don't put gold in the ground, nor get it out of the ground, nor make more appear when the drilling starts. In real value terms, broker notes add none, so in a pure market they shouldn't influence SP. PIs might be influenced by broker notes, but they shouldn't be. IIs won't be influenced.
I have no problem at all with the current broker notes from either source. They both state their assumptions very clearly. If anyone wants to do the basic research necessary to understand what they are doing, then you can without much difficulty figure out what the target price would be with different assumptions.
If you think their assumptions are wrong, plug in your own. At least they told you what the assumptions are so you don't have to just guess at what they are doing. It's all very clear, if you take the time to read it carefully (and research the terms you don't understand).
Don’t sweat it, no one’s taking any notice of H & P’s fine words and ludicrous DCF methodology / assumptions anyway. Quite apart from the timing of its release (on a Friday and weeks after its initial drafting), it tells us nothing we didn’t already know about GGPs prospects and true value i.e. something well north of 22p. Best can be said for it... it’s unlikely to prompt anyone to sell. Mel
It's little to do with the actual valuation, it's purely about timing in this case. The timing was wrong.
Let's leave it at that, and agree to disagree.
Have a good weekend! TT
Thanks for popping up for the first time in 30 days to tell us something you think is negative Jackthebear
Why? Because in a volatile market, as we have now, it'll be sidelined and forgotten more readily than in any other market situation that's not so volatile.
@ jackthebear "The implication is it's been sitting on someone's desk waiting for the best time to put it out."
Sadly, as from my post, my 'implication' is that they got it completely wrong!
Bad timing, nothing less. IMHO!
''Mine life until 2053. If GGP ends up as a dividend stock that would be very nice''.
Totally agree Oilmonkey, as anything north of a 5p annual Divi would certainly secure my whole family's financial future and provide for a very comfortable retirement! (Although I'd also settle for a T/O price north of £1.50ish ;-) )
To Bamps, Hydro or you other mining experts...why does the DCF have over $2bn in capex for this project?
Personally I believe that the timing of this update stinks! Why during another volatile market situation?
That said, IMHO, anyone that has done merely the basics of research into Greatland Gold will know that the current sp is, quite frankly, ridiculous!
Havieron alone underpins the sp way beyond current levels, without even taking into account our other major tenements!
As I've said before, more times than it's probably safe to do so on this forum, IMHO you'd be mad not to invest at these prices!
However, as always, please DYOR! These are my personal views.
.
Does anyone recall what our SP was when H&P commented they were working on a substantial upgrade to their target price?
I wish these brokers would adopt a standard method for valuing a stock. This note reads to me that they assume a tier 1 mine. They guess at its longevity and then estimate an annual yield. Build in some guesstimates on cost and gold price and hey presto a number just over 30p.
The note then cryptically talks about uplift in valuation when more resources are found. Why can’t they just value the MRE so we and the rest of the investor world can work on a long term SP growth as the resource grows.
Beyond an initial 5-10% market response this note is not going to encourage the SP to 40p anytime soon. Bit deflated by that.
Also see a red flag in the gold price at $1900. All the majors benchmark on a sub $1500 figure. Hmmm.
Thanks for posting, its been trading sideways for few days. Hopefully we will see a decent move from here.
GL to all.
Thanks Grizzle1 :)
Looks like all the emails finally made them get off their fat ar$e$ and do something ! It's still conservative in my opinion !
Hannam only ascribe $100m (£75m) to GGP's other projects in the Paterson region - just 2p a share. Significant upside on these projects.
Thanks Grizzle for the update and link, very nice.
Gobitl - on H&P web site (have to register).
The note substantiates why we are where we are today (flop co c king between 20 and 23p). Ultimately climbing to 30 to 33p closer to production.
My only twinge is where they price gold in at $1900. Mmmm.
They will provide another update after MRE2 or MRE3 when NCM upgrade their mineral resource findings later this year and align it with BBg note of 66p. [Even better if Scally is proven up too].
So a very cautious note with some interesting extra news about the longer term (block caving etc) when none of us will be here because GGP are explorers and discoveres, not miners and will have sold out long long before 2028!
Z
Copper price to be exact
Thx Grizzle , they were at least 30% lite on the copper but all good .
AFT.
GLA