Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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@Philly - yes sometimes it can be a good weekend with some reasonable dialogue posts or bad weekend with arguments with TheGreenFool and similar ilk; but at least you don't see the regular tranche of 'SP' posts expecting something magical is going to happen to the share price on an hour to hour basis - which of course will start again Monday morning - lol
It all goes a bit funny on here at the weekend!
Who would’ve thought I’d be longing for Monday to turn up lol
@Floater, I don't have a big argument with you, at all.
There's Sprott and then there's Sprott, and then there's Sprott.
1. There's Eric Sprott, who no longer is associated with Sprott Asset Management.
2. There's Sprott Asset management who do a bunch of things and have a variety of funds, some of which are actively managed, and Steve Todoruk is part of that. The things he says are very positive for GGP but as far as I can see there is no example of them having put their money where their mouth is.
3. There's the Sprott ETFs. That's where the GGP investment lies, and Sprott AM set the rules, and administers them but, unless they are lying in their documents, there is no human judgment used in that administration.
A. If anyone says Steve Todoruk is saying positive things about GGP, great. It's a good (if minor) indicator, but DYOR.
B. If anyone is saying, "Sprott bought shares in GGP, that's evidence this is a good investment," they are making a mistake. I'd hate to see someone invest on that basis, so I hate to see someone make the argument -- they might convince someone to invest on that basis.
I need to go get some sleep so I can argue with myself, LOL. Best of luck to you.
TmT, I do not doubt the information but if you watch the whole video, then IMHO Steve Todoruk gives quote a good impression that a human touch can be involved in their decisions also:- https://m.youtube.com/watch?v=vPHn0fufIqY
Maybe I'm looking at it the wrong way.
@AM90, Ok, you forced me to do the maths. I believe you are correct. I believe GGP is likely to enter the index on 18 September. I have not checked the index rules on weightings or how quickly the GDXJ ETF rebalances when the index changes. The Sprott ETF weights SP momentum heavily, I don't know if the GDXJ does or not. And the Sprott ETF is quite a bit larger than GDXJ, so it may not have the same impact as Sprott had.
@Floater, I didn't even remember who cited Sprott this time but it keeps happening.
You can read the rules for yourself, both for the ETF and for the index it tracks. It really is just a tracker, just like a FTSE 100 tracker or any other. The rules lay it out. They designed the rules to reflect what the market thinks of gold juniors. There's absolutely no "this is a good share" logic in it, it's just, "What's the market cap and what's the price momentum?"
All it tells us is that the GGP share price went up enough in the months before the last rebalancing to jump into the index, and jump in at a high weighting. If the SP is relatively flat before the next rebalancing, Sprott will sell a bunch of shares because momentum won't juice our weighting. If we are up around 20p by then (November), the weighting will likely still be pretty high.
Hi TmT,
I think this topic is primarily aimed at me and I do appreciate the educational merit of it. I tried to cite the comments of Steve Todoruk, in the zoros topic, as part of a post to show how others, outside the positive LSE GGP holders comments, view the share and have confidence in it.
No doubt Sprott and like wise investment companies use indexes and algorithms to buy into a share, and I'm no expert, but IMO there is still got to be a human influence in the whole process. I'm sure people can't all leave it to Skynet to invest their money into funds because the index tells them too ? - but I do stand to be educated further if this is the case.
Thanks and really appreciate your input.
Three month average-daily-trading volume of at least 1 mln USD at a review and also at the previous two reviews.
At least 250,000 shares traded per month over the last six months at a review and also at the previous two reviews.
Jan volume: 1.62 Billion; Feb volume: 2.52 billion; March volume 1.3 billion = Jan-Mar total: 5.44 billion
I am not sure of the average share price, but even at 2 p that equals £108 million - which is greater than the require 1 million USD per day.
Not 100% sure if i have calculated this correctly, but seems we will meet this at September?
@ChristopheB
Re: GDXJ.
Key info on this page: https://www.mvis-indices.com/indices/hard-asset/mvis-global-junior-gold-miners. Second qualification under "Size and Liquidity Requirements."
Presumably met that at the June review and should be expected to meet it at the September review. But almost certainly didn't meet it at the March review. Somebody else can do the maths to check and see, but the SP was low enough in the three months to the March review that volume in shares would have had to be very high.
The week leading up to Christmas might be interesting!
But of course, by then we might have sold our share of Hav, had a nice 18p dividend, and the share price could have dropped to 1p, then gone back up to 5p again on Scal drilling results.
Can we PLEASE stop citing their ownership of GGP as evidence of the value of GGP? I'm as high as anyone on this share. But this is a tracker fund and it says nothing about the company or its prospects that this fund owns GGP.
I know that Eric Sprott is a genius and his company is full of geniuses. But that has nothing to do with GGP ownership.
The ETF says it tracks an index: "Sprott Junior Gold Miners Exchange Traded Fund (NYSE Arca: SGDJ) seeks investment results that correspond (before fees and expenses) generally to the performance of its underlying index, the Solactive Junior Gold Miners Custom Factors Index (Ticker: SOLJGMFT). The Index aims to track the performance of small-capitalization gold companies whose stocks are listed on regulated exchanges." https://www.sprottetfs.com/sgdj-sprott-junior-gold-miners-etf.
Click on the Documents tab and read the prospectus to see how it works.
It tracks the Solactive index mentioned above. You can read about the index here:
https://www.solactive.com/Indices/?index=DE000SLA6V02
You can read about the composition of the index in this document: https://www.solactive.com/wp-content/uploads/2020/06/Guideline-Solactive-Junior-Gold-Miners-Custom-Factors-Index-v1.2.pdf
It has nothing to do with Sprott thinking this is a good investment, or a bad one.
If you are invested in GGP because you think Eric Sprott or one of his analysts chose GGP for their index, get out. Sell now, you are here for the wrong reasons. They didn't choose it. The index was composed based on rules, and so was the ETF. The Sprott ETF bought for one reason -- their rules told them to, and their rules were based primarily on GGP's rapid share price growth. That's it.