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NAV reached just over 76p yesterday and sp has be stuck on 64p for a week,
Makes no sense except perhaps this stock is not widely known and no buyers.
I was listening to Jim Mellon of Master Investor yesterday, his view was get into gold and then forget about it for for a while
As yet, I’m not invested in Golden Prospect. But it certainly interests me. Firstly, it’s not an index tracker. It’s small and flexible and so is not under pressure to find a home for its money - with liquidity being a prime concern. Taking a closer look at what it holds and there appear no truly awful companies in its top ten holdings. As with most Gold/Silver mining stocks, it comes with jurisdictional risk - Burkina Faso, Nicaragua, etc. But the risk is spread and balanced by its investments in Canada, USA and Australia. It also gives exposure to a range of businesses going from established producers through to advanced exploration and near-term developments. Most of its top ten producers are low-cost (Low AISC) except Westgold Resources. But the latter seems quite likely to experience falling costs as it includes “Project start-up capital” in its AISC and that looks set to decrease.
Importantly, it’s a closed-end structure so it can pick and choose when to buy and sell its assets - there’s no spectre of forced asset sales. And its on-going charges - Ranging from 1% to 1.25% appear reasonable.
Although I invest directly in Gold/Silver mining companies, I’m wary of the risks. It’s simply inherently risky - geology, jurisdiction, unions, community groups, etc. So collective investing in this area does have an appeal. Especially, giving the international nature of the business - it does give exposure to overseas-listed stocks but without the hassle. And there is also the awful chance of being correct about the theme - rising Gold and Silver prices. But investing in a mining company that has operational problems. The Gold price could soar but the company that you have invested in owns one mine and is now exploiting a low-grade deposit. The Gold mining stock and the price of Gold could move in opposite directions.
Uidiot is correct, mining is going to get harder, slower and less cost productive.
If you want to invest in Crypto then do it directly.
Don't invest in a mining company when we know mining is only going South.
ARB Director Deals range from 3.5p to 6.9p
I have been in and out of ARB trading for a while now. The BoD has a lot of skin in the game at 16p a share from memory. At a little more than 6p a share at the moment, the BoD has to really power this share just to break even on their investment. They won't want to lose out.
Big run up with the BC price recently so care advised.
Good shout Mathsman. I had no idea this existed.
Anyone interested in bitcoin could do a lot worse that taking a look at Argo Blockchain (lon: ARB)
Based in Canada and running on cheap hydro, they're most efficient operation out there and currently valued far below smaller similar operators on NASDAQ
It will be a long while before they are caught by any bedroom operations.
Were they Ancient Geeks or just Geeks.
Well then you don't understand Bitcoin and how it's mined then. It was mined by Geeks in bedrooms to begin with but as the ecosystem matures and progressively less Bitcoin becomes available to mine, the hash rate needed to produce BTC increases. Real time and energy are needed to produce a deflationary supply of currency which increases value in FIAT terms. The longer BTC survives the stronger it becomes. Bitcoin Gold was a fork that prevented ASICS being used to dominate the mining space but that hasn't really taken off (but it still could) and BTC remains the undisputed Crypto King. If you are alluding to quantum computing and how that might hack BTC then again, I'd suggest misplaced concern as we'd have bigger fish to fry by that point and it's all very hypothetical. Similar to the argument that if we have no electrical power then we have no BTC, i.e. end of days type scenario. I think something like 97% of FIAT does not exist in physical form. I could go on but you get the point. Personally I think there is plenty room for Precious Metals and Crypto in a 21st century portfolio hedged against insane FIAT proliferation.
Oh, and ROI on BTC is almost 8500% since inception a little over 10yrs ago. More to come? We've barely begun.
Gold bull market characterised by consistent small increases over previous high and large short duration falls. It’s only in the final stages of the bull market do you get large daily rises. The case for gold is already made by the devaluation of Fiat currencies, the only possible scenario I can see to stop the massive rises in gold are that the world embarks on the crypto currency model. The problem with bitcoin et al is that it is an opaque market and at present cost a small fortune to mine a bit coin, then there is the possibility of fraudulent developments and hacking. My main problem with bitcoin or block chain is that as computer functionality and efficiency increases bitcoin will be able to be mined by kids in their bedrooms, see recent developments in Spin memory, part ofALM this is going to revolutionise the computing industry and in so doing spell the end of crypto currencies. All in all I sticking with gold. May slice at $5000 oz let’s see where the world is then
Good to see gold has bounced off 1865 and is now over 1900.
Wasn't easy, but I'm glad I held on yesterday afternoon.
Will still be watching closely today however.
This has taken a bigger hit than mining stocks that's for sure.
Lots of small speculators bailing perhaps.
Now at 26% discount to NAV by my calculation, let's hope some of it can be recovered.
Gold charts showing definite downward momentum, lower peaks, deeper troughs.
I was going to add GPM is much safer in terms of price stability but movements today have been quite bizarre. GPM and GPSS down 12% and 21% respectively! Gold has fallen $100 from record highs in the past few days but remains around $1980/oz. Silver trading at $27/oz. Margins this quarter will likely be wider than at anytime in the past decade and the obvious effects this has on cashflow should support higher market valuations.
I think it's a gift to be buying GPM below 60p and have added 10,000
Is it based on GPM NAV or GPM share price when you subscribe?
Why does GPSS have a lower NAV to GPM? Is it this one that is used for the subscription?
GPSS not particularly complicated, pay 46 p for GPM ordinary in November, and lots of leverage in my view.
Worth considering at 19p today with GPM NAV at 75p. (19 + 46 = 65)
Would not touch GPSS due to the complicated nature of the set up. GPM offers a safe means of exposure to a wider portfolio of gold and silver producers and explorers, the most interesting of which are listed on foreign exchanges. There is no reason why GPM won't put on 30-40% by Christmas from current levels if gold continues to build above $2,000/oz. I expect there to be occasional pullbacks, probably during mid quarter and stronger gains around the end of October and January.
Seems a bit isolated over here but loving handing it over to the pros. Sit back and enjoy. Got 1/5th of this investment in Gpss. Catching up fast. Don’t want to jinx it but it’s too easy isn’t it.
Think the spread will reduce to a small premium in near future, grist to the mill on Gpss.
Agreed with most of what he said particularly shorting Tesla, trouble is you no longer are dealing with a share but a religion, every time I spread bet sell Tesla and lose £250 I immediately buy them and get my money back. Sooner or later I hope to hit the payload, then I will get a massive pair of green shorts with Shorts by Tesla and send a pair to Elon, maybe have a whip around to get him the bus fare to the local food bank.
Interesting link Noirua. Thanks.
Evil Knieval at play. A must watch video, QandA session: Https://youtu.be/u6w_iAh8vx0
GPM and GPSS mentioned several times here and there.
Why aren’t investors beating a path to Gpss, certainly with Gpm invested in a range of producers, developers and some exploratory companies in a range of precious metals, all boxes well and truly ticked. On another note even Solg looking to be on a rise.
Think that share price will close in on NAV and with a strong NAV rise might even go to a premium, adding yet more sparkle to gpss
This is confusing me and I wonder if anyone can help? How does this work.
It looks like if I buy now at 7.5p I instantly lose 25% because of the spread!
Is this normal?
I understand if GPM goes up (which I expect) returns can multiply quicker here?
But if the GPM price is below 46p in November I lose everything?
People are talking possible ten baggers here but how does that work?
Why would the price shoot to 75p from my purchase at 7.5p? Presume this is something to do with the calculation in November somehow?
Do I need to hold until November or can I sell anytime if price moves up quickly?
Thanks for any help.