Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Any idea? the spread is ridiculous
0.20p selling. Do you have any answers for this?
Assume they intend converting, so must se e value in gpm when all's done and dusted. Buying for clients perhaps? .
Why are peel increasing when obviously these are worthless now?
surely GPM will go back up as gold will start rising again soon
Unless GPM goes up in price, these have zero value...
Ignore my posting just read your Apr posting jodell
So I buy £1000 @ 2p. Then come Nov30/Dec 1st share price is 2p. I dont take the options so what do I end up with? Or does the company disappear in a puff in smoke. P.S am new here.
Short answer: nothing. You have the right ( but not the obligation) to pay an extra 46.14p shortly before 30 Nov to receive 1 GPM share. If you don't and GPM is trading below 46.14p then you will be wiped out. If you don't subscribe and GPM is at least a couple of pence above the strike you may receive a small pay out
4.45 to buy + 46p to pay for each share total cost 50.45p versus 51.50 for normal GPM shares.
If I buy these what am I committing to?.
Dramatic drop. Dramatic rise to follow? Tempted tomorrow to buy but have no clue how this sub share works. Must appeal to the brave investor.
Surprised by drop in gold but Gpm NAV has held up well, still my intention to subscribe in the knowledge that if the worst happens will still be well below NAV and convinced gold will rally and a year of M and A Will add spice to the underlying holdings. Genie of QE is out of the bottle and he’s way to big to get back in, the only way is to increase massively the size of the bottle, inflation and gold at $2500 by Biden’s first Social bailout.
OK I now have my answer, just need the SP to rise to make it worth it.
OK, played this one as a pure punt without reading the fine print. So come November 30th do I have to buy the subs regardless of price or can I just let them fold. And more importantly, if they are above the discount SP how do I convert them. Ie will I get a notification to pay.
Not that clear cut. There will be pressure on the GPSS price from a number of things.
1. Current holders who do not have the available cash to convert
2. If the GPM NAV continues to fall and the GPM share price, the subs become less attractive.
MMs are not going to want to end up holding GPSS near to the final exercise date so you may find at some point that selling GPSS above NMS is impossible. You could possibly make a bit by trading GPSS assuming the gold price and underlying assets rise significantly between now and the end of November. Similarly the subs may become worthless if the NAV continues to fall.
So you're saying by the end of November, these could be at 18p?
Will take my Gpm holding well above my portfolio max but it’s money for nothing, or better still gold for nothing. Anyway nothing gets overlooked and would not be surprised to see the price initially fall as cash strapped holders have to exit , As it gets closer to nov 30th professional investors will force price. Nearer to Gpm price including Gpss reduction at present about 18p a whopping 150% rise. As you say no brainier, wish I had more readies to mop up a few more. I would say good luck but there’s no luck involved.
This may have been overlooked...
There are 28,473,716 Subscription Shares outstanding from the original 28,501,013 issued in November 2017...
That means only 27,297 have been taken up so far, which is hardly surprising, because the subscriptions to date and then current share prices were:
30 November 2018 40.37p 18.5p NAV 24.57p
30 November 2019 42.3p 24.9p NAV 35.1p
30 November 2020 46.14p 60p (Current) NAV 73.44p (GPSS grosses up to 56.14p)
So, as the last figures show, it would seem that only an idiot would fail to take up their shares on 30 November 2020 because that is:
A discount of 6.4% to the fully paid price and 23.6% to the NAV...
If they are all taken up, the Company will get a 'windfall' of £13.14 million to invest just as the Gold and Silver prices my be poised to take off and to add to its current £41.9 million Fund value, making c£55 million...
So what's the catch?
Well...if all the SS's are taken up, the NAV would fall to 64.3p par share, which makes GPSS a much better bet at a 12.7% discount to adjusted NAV than GPM at only a 6.7% discount.
However, the fact that you can buy GPSS for 10p (grosses up to 56.14p) while the fully priced shares are 60p to buy, suggests that some people are struggling to raise the funds in order to take them up.
Therefore the funds subscribed are likely to be significantly less than the prospective £13.4 million, which therefore raises the NAV of the fully diluted shares to anywhere between 64.3p (all taken up) and 73.44p (none taken up).
If only half were taken up the NAV would be c68p.
So...if you have the cash to buy and subscribe GPSS shares, they appear to be a no-brainer...
Apart from anything else, they are a highly leveraged 'option' on the Gold price, as the price action showed when Gold surged to over $2070 on 7 August and GPSS was 19p, having been 24.8p on 27 July.
If we saw the latter again, you'd make almost a 150% gain unless you took up the shares, in which case you'd make a 25% gain..you pays your money...
Which is why we have 350,000 of them; and the Chairman, Malcolm Burne has 318,750 and states in today's Annual Report that he will definitely be taking them up.
AIMHO as usual and DYOR...
Gold looking to breakthrough $1915 resistance.next step $2000 then the also rans will be all over it. Whoever wins the Us election it’s spend spend spend, Trump cannot bare to see the stock market tank so will print to enable bankrupt companies to continue trading, Biden on the other hand would happily see the market drop as he has 4 years To Tax the hell out of anyone with money, so he can bribe a corrupt, work shy benefit class, just like Labour tried to do. Either way the days of the Greenback being a safe haven are well and truly over. Oriental gentlemen might add a verse to a well known ditty.
Uncle Sam, American tried to earn his chow
Uncle Sam American didn’t know how
Uncle Sam American fells the money tree
Uncle Sam America Now no longer free
So, that's all gone well!
Added again as gold is flying, amid the turmoil that is a damaged US election, gold will as it always does, be a beacon of confidence in a sea of fear. Gpm NAV moves higher, discount reduces and subs fly, a triple whammy. Gains on steroids.
If you believe gold will rise between now and Nov these are a steal currently worth about 15p, at the moment the discount to NAV of Gpm is 19% way more than average and a lot more than it will be if gold carries on rising. It was inevitable gold would come off its highs, there is always profit taking, but gold has resumed its rise , in my opinion on its way to $2500 by Dec. If it does expect Gpm NAV to be about 100p and Gpss NAV to be about 86p, so that equates coming on the end of Nov as it closes out to a price of Gpm 95p so Gpss will be worth about49p. That’s about a 5 bagger and it only relies on gold rising. Later in Oct the new Bretton Woods will convene, if its as bad for the Dollar as I expect then gold could easily go well above the figures quoted. Topping up and holding cash in case Mms try to screw the share price or refuse to buy in late Nov.
Gold has just broken through 1900 again, if it closes above 1900 on Friday perhaps it will be worth staying in a week or two longer......your decision of course!
Watch for GPS (not GPSS) RNS alerts . They issue a NAV daily (24hr delay), with gold up an increase today is probable.