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As I understand it, Newcrest completed all their drilling to upgrade the area of the ‘starter mine’ ( for want of a better word) and are now concentrating all drilling on extending the resource. So in some respects the MRE2 cannot be used on its own to determine fair value for the 5%.
With the main ore body going deeper and not included in the MRE2, the eastern breccia, HAV north and Zipa, then I think we would be looking at more than10 million ounces in total.
We haven’t got too long to wait to see the true figures. Good luck and hold onto those shares.
Trippytaka you said:
"...If all 3 of our brokers think Ggp is worth in the range of 23-26p as it stands atm why would 15p be acceptable? Am I missing something…"
You are an example (if I may say so) of a shareholder who doesn't digest what is going on but simply goes with the general flow led by those who shout the loudest.
So I need to explain it for you unfortunately...Here goes:
BB and Canaccord have both said 24p. This is the SP they are attributing to the results of the NEXT mre(2) next month. They each expect the results to show somewhere in the region of around 10Moz. Do you understand now? They have NEVER said the SP should be mid 20's now instead of 15p. This is something that has been declared for months now and surely something everyone undertstands....except you it seems? Why is that? Are you an investor or a punter?
Please please do some basic research Trip.....
Z
It does seem a bit strange that JPM want to short an AIM stock on behalf of a client and whilst the stock has a maximum downside from here i.e. just 14p and that's not going to happen then why bother unless there are underhand tactics being played out now, just in time ahead of Newcrest's latest Havieron perhaps ?
We know how these American banks operate, so have some funds at the ready next week as the last of the cheap GGP shares could be on offer !
Sharketmare coming in like a know it all Bertie big balls. Lol.
By way of clarification, I do not suggest that a short position will in itself effect the SP as it would represent a very small % of the shares in play, BUT, it may effect sentiment and this IMO has been the case today as a result of JPM s short. The method and timing of shorts will also have a pronounced effect as described in recent posts on this subject by Hydro.
GLA
Sam
Strawmen being thrown about left right and centre. None of you seem able to read. I will leave you to it.
PR77 .... not a chance am I selling ... even if shorting continues after
the next 3 imminent results / news.... it can't go on indefinitely .... keep holding
Remember the massive GDXJ buy one Friday last year at 4pm !
Where's Mickey ?
Maybe Shaun doesn’t know how broker targets work either darby obviously after being in Ggp for over 4 years I, you Shaun don’t know anything yet sharker knows everything.
There’s definitely been a ramp up on the amount of FUD on this BB today to coincide with the big reveal of the JPM short. They want your shares but as cheap as they can get them. Clearly 14p isn’t cheap enough, but I’ll hang onto mine until we’re bought out or we’ve transitioned into being a producer.
Sharketmare how does the valuation of our director who is involved at the heart of the process value our company? When he says mid to high 20s, is he wrong.
Should he not be held in higher regard than an anonymous poster.....
Hi Trippytaka, do you understand how brokers and price targets work? There are very few stocks currently trading at the average of the price targets set by the brokers that cover them. I also never said I agreed with zoros and his valuation of GGP - I simply said it was sensible and well argued.
If that’s the case sharketmare perhaps you could explain why the brokers say 25p and zoros (and now you as u agree) say 15p?
So the predictions are 15p Max for what we have.....does no one listen to our board who were asked the question regarding SP, the answer giving was mid to high 20s. All broker notes mid 20s. Watch the latest videos people. Listen to the ones who are involved in the process, not the daily traders looking to get their few percentage points. Eyes on prize......
Some of the things I am most looking forward to in 2022 are more results, hopefully positive confirmation on the other targets outside the main ore body, MRE2 and the FS to make more of the 'potential' far more official and hard to argue against.
IMO the FMV valuation is open to randomness and other factors that might not reflect true value as it's more so opinions from two parties with somewhat differing objectives as one is buying and the other selling but too low a valuation does no favours for NCM IMO who are under pressure to show growth and longevity as are most majors and indeed they are in buy mode as we know i.e. Pretium Resources.
I'm just going to react to the FMV outcome than build a strong expectation of what the end result should be - but I'm more excited than concerned personally.
All of the above should help feed sentiment and growth back into the SP hopefully along with POG and other macro factors coming to favour our sector more by year -end. Having the ammo to fire back at the obvious disruptors looking to create FUD from official sources/facts is always good too :-)
Zoros
I’m interested to know what you believe the new MRE will state. Do you have a figure in mind?
Zoros - you have done an about turn. that was fast!! As I have said before, unless you get you achieve a good valuation for the 5%, current SP may turn out to be a vast over valuation and will realign itself to that. They are shorting this for a reason!!
This board is absolutely hilarious to stop in and read from time to time. zoros posts something eminently sensible and well argued that goes against the rampish, delirious nonsense that is the norm on here and people question his intentions and threaten to filter him.
People need to realise that this share was massively overvalued for a time, driven by rampant speculation by retail investors during the pandemic and gold performing strongly.
The potential here is obvious for all and I plan to take a position over the next month or two. Those who are underwater (and judging by the desperation in the posts many here are) or hoping to get rich quick need to learn that investing in mining explorers is a slow and highly volatile game. Take off the tin foil hats and log off for a bit.
Why doesn't everyone just go watch the latest videos from Shaun Day himself and the our board and remind ourselves what we have instead of all this bickering. In his own words we should be "popping champagne everyday" at what we have at Havieron. Don't be worried about daily movements, focus on the prize at hand, let the traders bicker amongst themselves over a couple of percentage points up/down. Keep eyes firmly on the prize at stake.......its gonna be the next Telfer and bigger than Telfer.
Exactly that matty56 don’t know why he’s changed his tune all of a sudden
Hi zoros
Why are short positions taken ?
My answer would be; To bring down the SP so a profit is made when the borrowed shares are returned to the lender. While this process is taking place the SP and setiment is depressed. Ivestors needing to sell during this time will not aquire true value.
All the best,
Sam
Sam
Those were my thoughts too league tempted to green bin him as it smells fishy
Trippy - I agree. I respect Zoros view but disagree with it. Yes, share prices are driven by value of known assets, but also expected value of future assets and income, basically, sentiment around future value - that's why momentum is so important, a series of good news leads can be worth greater than the sum of its parts to SP level. Shares trade all the time at big premiums or discounts to calculated asset values - hence GGP management job is not only to do all the right things, but also to keep telling the growth story e.g., why should someone buy shares at a premium to current asset/income value. I'm sure the mgmt team are flat out working on the chunky items that will be critical to GGPs position and market sentiment and we know there will be lots to hear soon - hopefully all good...
zoros, I think you are being a bit stubborn on this matter. The share price is ALL about future income since there is none as yet. We all know damn well that there is a huge amount of gold and copper at Havieron. That's why the sp sailed up to 37p because it is very likely to be many times great than the 1.6m oz you quote , which you know full well is the 'fraction of a fraction' used solely to get the PFS agreed.
We are not like other junior miners. We are sitting on something truly astonishing and therefore, knowing that, from the amazing sets of drilling results that have come in over the last 12 months and extrapolated by our own esteemed Bamps, the decline of the SP seems totally unrelated to prospects and more related to manipulation by shorters and their like.
zoros - "GGP is worth a MAXIMUM of 15p ALL DAY LONG with their current finding".
Why only now are you changing your SP opinion (all your previous posts like all other BB members are now unavailable from LSE temporarily)? Why do you not acknowledge that the MRE is only based on drilling results up to October 2020 and therefore a significant upgrade to Havieron is awaited? Why no reference to the work done in the meantime by Bamps when he refers to 900mt of ore? Why no reference to the "fraction of a fraction" SD comment in PFS etc etc. I do not understand your change of sentiment which of course you are entitled to do, without having to explain to me or anyone else.
If all 3 of our brokers think Ggp is worth in the range of 23-26p as it stands atm why would 15p be acceptable? Am I missing something…