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Yep, I picked up a small amount more today, couldn’t resist.
Personally I think they may crystallise some profits soon, which may bring the SP nearer the NAV, but am obviously only guessing.
Good luck and let’s see what the next week brings.
Just occasionally the price lags ggp and one can grab a bargain!
Pity the spread is so big- on the face of it a penny a share- but I have topped up at 16.7 and am happy to accumulate some more beeautis. Also happy in the knowledge that I am contributing to Callum’s pension pot. I would be interested in any thoughts amongst contributors about long term plans for this vehicle. The surest way to realise true NAV would be to sell up but will that be on Newcrest taking the 5% they have an option on or are we going full on and let Callum pay his mortgage regularly?
Mike
RNS out, I was spot on this time.
My guesstimate for NAV/share from my spreadsheet is 24.4p/share.
GGP constitutes 22.6p of this and AAU (post dividend) 1.0p
Well, the SP wasn’t static today! At a SP of 16.5p the MC is now only £10m, despite the NAV being £16.5m. Maybe it’s a falling knife, but I just had to buy a few more today - 16.65p seemed desperately cheap for what’s on offer here, but DYOR just in case.
Have I missed something here? Share no longer appears to be actively traded / moved with a static SP for some time now even when GGP has moved around.
Bigger discount compared with Ggp price, think we should be @ 21.5 and that’s with the usual 50% discount. May top up again but would be breaking my 5% limit. Think when this moves it’s going to be 10% plus anything extra that Ggp put on. You would think that rational markets would auto correct but not so here, been here since 3.5p and top sliced here and there retooling at unreasonable discounts to Ggp, apart from the liquidity issue it’s money for nothing, can’t complain.
Well both my buys today, actually as buys.
We are greatly behind here, hopefully the maths will work out soon. GGP's free float has been massive reduced lately, should make it, and us here more volatile.
Greatland Gold Fields £5+
Expecting to break the 20p mid price tomorrow on Starvest given the strong finish by GGP today.
I’ve been trying to educate those at Ggp with buy 4 get one free but most there think I’m trying to deramp. Ggp worth 50p derisked so it’s hard to convince people who will make a shed load anyway, but here they’ll make a shed and a quarter and have a rag bag of other shares left over. Think these will break 40p shortly, although bitcoin has performed better than I was expecting, we’ll see what happens when the **** hits the Magic Money Tree fan, so far gold has overcome these panics for 4000 years, don’t think bitcoin will be around in 40 years, except in history books next to Tulip mania.
Starvest own around 82 million shares in GGP which at current price of 23.25 are worth just over £19 million. Starvest market cap is currently around £10 Million. All other Starvest investments are a free carry. Do the maths. ATB.
Just added here today as well and both my 50, 000 and 10, 000 buys again showing as sells.
My 50000 buy at 20.7p at 09.44 has been recorded as a sell!!!
Lagging behind GGP again, plus ORCP is on the move - not a massive needle mover but really good to to double up my position
GGP up 10% so far today, so as per normal practice this share will also rise again today, but always a delayed reaction
GGP bouncing off double bottom in chart terms this morning at level of resistance turned support. SVE lagging but similar chart. Am looking for SVE to follow GGP bounce even if there is some consolidation at this level first.
A Big congrats to the BOD here at Starvest for a fantastic result. The share price certainly does not reflect the value here. Great RNS - Well done. Keep going.
My main concern with crypto was Political, would the USA sit back and watch the dollar being replaced as the reserve currency. Secondry concern was the energy required to mine bitcoin, currently using the same energy as Switzerland and increasing. I know there are more green cryptos out there but bitcoin in its current guise can never overcome the low number of transactions per second. That's why I'm almost entirely cash and PMs at present. Think the imminent market correction will spook Crypto and PMs but Pms will come back stronger as March 2020. Was invested in mode and did well but writing on the wall in my opinion ditto Thinksmart. Anyway good luck with the day trading, I tried it but too much of a wuss.
Crypto can go green. Many use solar and other renewables to mine. Also, Biden won't want to be called out as a massive hypocrite destroying the crypto industry in the name of global warming, whist the USA subsidises the oil and gas industry. Whilst I'm here, I'm holding GGP, and day trading SVE on the side. Like yourself, the lag between them has paid off for me a few times. Unfortunately with the recent drops, I find myself I'm holding both through the dip. But, both can and are coming back. I'm also very bullish on 'Hive blockchain', which i'm holding too. GLA
Sold last of ggp after 13% rise yesterday, nipped in and bought sve with proceeds nett 10% extra ggp. Surprised at the lag here, normally the proffessionals give little away but here! We are trading at about half NAV so potential upside is enormous. Think the big rise will come with Biden announcing restraints on Bitcoin due to the huge carbon footprint. Once the daddy crypto is finished the others will not be too far behind and then Gold and other PMs become king once more. Anyway enough day dreaming should see this rerate to low 30s shortly GLH. wonder sometimes if Im posting to myself, discuss.
NAV/share currently 43.6p with GGP at 28.5p.
That RNS came out on 5th Jan. The figure was 54.51p , slightly more than my 53.8p guesstimate.
I believe that it is driven by the poor initial drilling results reported via RNS from GGP on Scallywag prospect.
Is this to do with China - Australia political trouble re ban on imports of copper ore
Topped up 10 mins ago with another 17k shares, sadly missed the low as was having lunch. NAV at year end, as we should soon find out in an RNS, was close to 56p (mid-prices). Even with these adjustments, the SP is at a 42% discount to NAV, implying 72% upside to NAV. I like buying GGP at a 42% discount, who wouldn't?