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So, short manipulation does exist re GGP; and has been used to depress the SP for the last year while one marvelous set of drill result after another has been released. Now we are told that it doesn't matter anyway because the final outcome for long term holders will be fine. I am a long term holder so I have and will be fine. BUT, what about those who have needed to liquidate funds for personal finance reasons. They have been ROYALLY SHAFTED by the shorters. It should be banned even though it 'creates a buying opportunity ' for the 'I'm all right jack' brigade.
GLA genuine H
Sam
Sam, good afternoon.
Your post@1116:
"..So, short manipulation does exist re GGP; and has been used to depress the SP for the last year while one marvelous set of drill result after another has been released. Now we are told that it doesn't matter anyway because the final outcome for long term holders will be fine. I am a long term holder so I have and will be fine. BUT, what about those who have needed to liquidate funds for personal finance reasons. They have been ROYALLY SHAFTED by the shorters. It should be banned even though it 'creates a buying opportunity ' for the 'I'm all right jack' brigade..."
I guess, reading from your post, you are blaming shorters for the downfall or rather - supression of the SP? If shorting didn't exist @ GGP, where might you expect the SP to be today then?
(a) ALL of the gold is still in the ground. (b) GGP have declared 1.6Moz Au(ore reserve).
(c) GGP have 4,200,000,000 shares on their books.
Where exactly would you like the share price to be so that "latecomers" or those who wish to liquidate their stock now for private reasons....can pocket a profit?
Have you actually worked out how much GGP is currently worth? Why the market values all the other junior miners with this arrangement at similar (relative) share price values?
Let's try a mini experiment:
Let's pretend there is NO SHORTING (based only on the fact that you think this has held or driven the SP down to low levels):
25p per share. This makes GGP worth £1.05Bn. Hav worth £3.5Bn
How about 50p by now after the annus horriblis of 2021: GGP: £2.1Bn. Hav: £7Bn.
No gold recovered, 1.6Moz ore reserve, the rest inferred (ie: we think it's down there).
Staying with that calculation, are you expecting double or even treble this valuation if the MRE2 unearths: 4MozAu reserve? GGP: £6bn, Hav worth £21Bn.???
Please, please...all of you who really don't fully understand why we are where we are.....DYOR!
GGP is worth a MAXIMUM of 15p ALL DAY LONG with their current finding.
A thousand assays and 50/50 fabtastic RNS's won't raise it 1p until and unless it is corroborated by independent authorities via a JORC / MRE / PFS / FS.
3.2MozAu / 4.4MozAuEq / 1.6Moz(ore reserve) = a maximum of 15p and that is being generous.
People forget that the GGP share issue would provide 1 share for over 2/3ds of the entire population of the world!! Its SP simply cannot keep growing to satisfy the greedy needs of some punters owning stock who are ignorant of why the SP isn't flying all the time.
32 recommends for your post (last count).......that is quite alarming and goes to show the level of understanding here (or lack of it).
C'mon guys DYOR I beg of you. Prepare for what to expect of an emerging junior miner over the coming months or we'll be having this argument a year from now because the SP is only 40p for example.
Z
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…
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.
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.
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...
Those were my thoughts too league tempted to green bin him as it smells fishy
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
Exactly that matty56 don’t know why he’s changed his tune all of a sudden
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.
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.
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!!
Zoros
I’m interested to know what you believe the new MRE will state. Do you have a figure in mind?
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 :-)
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......
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?
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.
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.....
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.
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.
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 ?
Strawmen being thrown about left right and centre. None of you seem able to read. I will leave you to it.
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
Sharketmare coming in like a know it all Bertie big balls. Lol.
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 !