George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Petejh, thats a fair and balanced post . An associate of mine was in relatively early with around 250k invested .He watched his holding soar to around 3 million quid and still refused to sell .He is back down now to around break even .I suppose we can all use hindsight to influence our emotions , but that chap must be seriously fed up now .I remember the " sit on hands " advice well . I also remember people buying in , in the 30s and watching it rise to nearly 40p .Its hard to believe what has happened here but its not just ggp that has suffered. I put most of it down to market sentiment. AIM was everybody's darling in 2020 , but money has moved away from the juniors , and that trend has continued for 3 and a half years .I also think there's a tremendous amount of under counter skullduggery going on too .At the moment it doesn't matter what companies are doing ,or how juicy their assets are .Without volume and favourable market sentiment etc , sp's are going nowhere .This has nothing to do with SD , but has everything to do with the current AIM market climate . And looking at the evidence, if GGP discovered another havieron tomorrow, some organisation would attempt to mark it down .These are pretty much unprecedented market conditions , certainly worse than i can remember, and im going back a long time too .
Petejh - a couple of observations:
1. This is mining - 7 -8 years is roughly half the time for a normal discovery to translate into production - and remember on a small % of discoveries ever make it to production.
2. Investing in the early stages on hope is a strategy - its a high risk strategy but it is a strategy.
3. Well done on monetising your profit as you did - many here are envious and wish we have studied and understood the Lassonde curve back then.
4. Having now researched more fully the Lassonde curve I am looking forward to the second and larger wave - not guaranteed but the POG and copper upsides and disconnect between miners and POG could make the second wave steeper and longer than many think possible.
5. Put some of these shares into my pension pot - long term - its my strategy
6. Psychological games - 100% - the games represent a huge % of market activity and played at all levels. Anyone thinking the Fed is not playing a game at the moment for example might want to think again China is playing a game - a very open game for anyone interested and wanting to take note. The only question there is how much of their CB gold purchases are not disclosed.
7. Despair of PI's - yep I get it. In part a reflection of todays instant gratification culture and also I suspect as result of inflationary pressure on day to day living and a back drop of falling SP - a double whammy.
8. Your recommendation to switch off - agreed - although my money is on this flying in time.
ATB
A lot of nonsense talked about MM's and manipulation - the bare fact is that GG is spending a lot of money with no income stream - they want to mine Haverion but havent the money to get the other 70% over the line - its still not clear and nobody will answer the question - who is going to pay the other 70% just to re-start the declibe - I currently think nobody - so the decline will not restart until the who owns the 70% is decided...the aquifer is a convienient excuse/stop point until the new owner of the 70% decided....I thought I would come back in at 5.5 and had order to do so yesterday - but now i think I want to come in at less than that..
Hi Pete, same boat as you, made a killing at the high of the share price, now on a free ride but must admit its not great to see free money evaporated by the aim casino, so bottom draw for now until the crooks finish with there dodgy deals.
The same pattern of the last few days
A Market Maker is being supplied with shares from an Institution soon after opening, therefore a marked-down to get rid of them. And it seems PIs are happy to get some at those low prices.
Have they finished selling them?
Gold price UP by $18 to $2348
"I do think a psychological game is being played here on GGP holders - gold and copper are ripping and looking like it's the start of the next long-term uptrend. To deflate the GGP price in this environment has 'force some pi's to capitulate in despair' written all over it. So if long term holders are feeling he pain here then they'd be wise to switch off and ignore until it eventually flies .."
I agree. The disconnect between the share price with the gold price, copper price, resource size, resource potential etc is surprising. Until we have clarity on the future direction of Telfer + Havieron I wonder how long this will persist for.
Q3 for the dewatering to be completed I think
Zoros that's all very nice but a strategy of waiting 7-8 years for an uncertain return on your investment is no strategy, it's 'hope'.
Someone could write a book about the lost generation of investors in GGP who didn't sell high when they had a chance to make huge profits. I'm one of the few who actually made a killing on GGP and it was by selling when they were stupidly overvalued at the peak of the exploration excitement in 2020/21. I've kept half million shares in the bottom drawer for the endgame. Hopefully the story ends well, I'll enjoy the little uptick in my remaining holding if so but it doesn't matter for me.
If I'd held the lot - because of the 'future sunlight uplands' then it would have been one of the worst investments of my life and have cost me so much in opportunity that instead I got to enjoy over the last 4 years, while other investors have sat on their hands thinking wishfully while unable to utilise the money for anything else. I do occasionally wonder if the fabled cheerleader 'PaddyGall' ever sold any of his tens of millions shares at the peak. I hope he did. Or if he sat on them all and is now looking at a gargantuan cut to the gains he possibly could have had. Still, just a bit more patience and long term investors might eventually at some point get nearly the return they could have had 4 years ago... Truly bonkers.
I do think a psychological game is being played here on GGP holders - gold and copper are ripping and looking like it's the start of the next long-term uptrend. To deflate the GGP price in this environment has 'force some pi's to capitulate in despair' written all over it. So if long term holders are feeling he pain here then they'd be wise to switch off and ignore until it eventually flies or properly crashes. Both outcomes are still possible.
The decline we need is not in the sp but at the mine. Is the dewatering of the acquifer complete do we know?
So contact GGP
Still no communication to ease the drop maybe ...SD all talk but not when it matters !!
Andrew Bailey is a typical Civil Servant in charge of Finance and
no understanding of AIM which is ruined by thugs.
LSE ?
Interesting all those 1000 share buys at 08.20 this morning.
One thing is for sure they are not paying £11.95 dealing fees with HL !
Latest piece by Taylor Dart at Seeking Alpha, who's one of the most well researched commentators/reporters on the Industry, but especially the ins & outs of what's been happening with Newmont/Newcrest and assets, costs, etc...
https://seekingalpha.com/article/4686125-newmont-q1-earnings-a-solid-buy-the-dip-candidate
Not a great quarter. Closed for a large part due to the tailings dam problem. Annual forecast is 230,000 ounces so 204,000 for 3 quarters. Plus 8,000 tonnes of copper forecast for a year.
https://s24.q4cdn.com/382246808/files/doc_earnings/2024/q1/presentation/Newmont-Q1-2024-Earnings-Presentation_Final.pdf
Telfer all sustaining costs per oz $3.017
oz sold (000) = 26
What he knows about anything doesn't need to be told.
On any message board.
Ever.
Redirons, like me, don’t you find it funny that patience seems to be something that is acquired with age. The constant bashers & whingers that appear here, seem to have none. They come from the “If you stop crying, I’ll buy you something” generation !
Whereas most of the LTH’s here, come from the “If you don’t stop crying, I’ll give you something to cry about” generation !
We are not the same.
I can’t believe the amount of people who show up here saying GGP is this, is that, it’s the other, all because they haven’t doubled their money within 1-2 years. Some of you are just dreamers. Just because some have made those sorts of returns in a short timeframe, doesn’t mean it’s the norm.
Found this description and am purely guessing it may answer my previous one project question regarding Telfer and Havieron grouped together.
“A disposal group, as defined by the International Financial Reporting Standards (IFRS), refers to a group of assets (and possibly liabilities) that an entity is looking to dispose of together as a group in a single transaction. This concept is covered under IFRS 5, which deals with Non-current Assets Held for Sale and Discontinued Operations.
A disposal group may be a division within a company, a subsidiary, or any other collection of assets and liabilities. The plan to sell or dispose must be at an advanced stage where it’s unlikely changes will be made, and the assets must be available for immediate sale in their present condition.”
Wow - Ponie you do not look like you are in your 80th year, so whatever your secret is it’s working!! I’m a mere baby at 65 but at least I’m in full agreement with everything you say. Look forward to opening a bottle of bubbly at your 100th - hopefully on a nice yacht somewhere in the sunshine off the back of our substantial returns from GGP over the last couple of decades!!
Hopefully Ponie you'll have another 10 years in the tank I'm not getting any younger myself and this share price has taken it's toll this last 3 years but I think we are near the turning point, good luck and hold firm.
Https://www.reuters.com/markets/commodities/newmont-beats-quarterly-profit-estimates-2024-04-25/
A positive post from Tavi Costa on X.
"Now is not the time to stand in the way of this long-awaited historical breakout, in my view.
With gold prices at these levels, mining companies are likely to become true cash-flow machines.
Newmont's earnings release today was just a glimpse of what's to come."
https://x.com/TaviCosta/status/1783586318766797141
Copper has gone up 27% in the last 6 months (not that we have very much !?) ATB Jonno
From about 16 minute 48 seconds … relevant https://youtu.be/ML_xEzuVRf4?si=NLE_R2nHuILFa6pR