Member Info for aprogerson

@Hollamatronic Yes you're probably right, but it seems uncanny that the Price Action follows all these inflection, support and resistance points with uncanny accuracy based on the recent 25.4p top and not the 27p top from Fridays GDXJ auction purchase.
Personally I'll stick with what I'm doing and if it helps me decide when I want to enter/leave the market with my GGP shares and how I manage my risk then I'll do exactly that. If I get it wrong then that is my loss.

Well this drop is now beyond brutal and so far today has fallen through:
> 2nd Head & Shoulders neckline @20.6p ... so target 15.6p
> 3-day descending channel support @19.5p ... so target no idea !
> Fibonacci 50% retracement @18.7p from 25.4p technical top ... so target Fib 61.8% retracement @17.1p
> top of long-term uptrend established Feb-20 @19.5p so support expected at bottom of channel @14-15p depending on when it gets there!

Also major support expected at 15.6p established in Jul/Aug-20 and if that fails then Jul/Aug-20 support at 12p is on the cards.
All IMHO but this has to be one of the most brutal charts I've seen in a long time!

@HighRisk I'm 100% sure we will get to 30p probably on the back of more Havieron and/or Scally drill results, but we just have the small matter of the SP correction to navigate. If you want to hold long term the just do so and sit on your hands, if you have a high risk tolerance and know what you are doing then this is a good opportunity to trade and release some cash to invest elsewhere and/or increase your holdings.
IMHO it's not for the faint hearted and any Newbies should really just sit on their hands and ride it out. IMHO

@Elise, well played

Again to be clear I am invested as this is by far my largest holding, but a combination of meteoric rise on the back of GDJX ramping on this BB followed closely by stock market and gold sell-offs was never going to be pretty.
GGP will of course recover as it has too much going for it, but as we all know stocks never go anywhere in a straight line

You might not like my Price Action commentary but look at a 1-hour chart and tell me it's my imagination.
The 'real' traders have made an absolute shed-load out of GGP and the last 4 days alone it has traded in a brutal +/- 10% descending channel.

Ouch there goes the 2nd Head and Shoulders Neckline

The 3rd day of brutal Price Action has now breached my second Heads and Shoulders neckline @20.4p and just passed Fibonachi retracement of 38.2% where it is currently sat deciding where it will go next.
I think it will bounce and retest 20.4p now resistance to test my downside target of Fibonachi 50% retracement at 18.7p and possibly recent massive support established back in Aug-29 of 15.6p.
I should have followed my own Analysis and top sliced more methinks. All IMHO of course!

@MrP, I took my GGP top slice and put a chunk here so happy to wait now.
At this MCap almost anything vaguely positive is good news

Just awaiting news on announced 2020 Programme of historic spoil heap sampling and geo-physics results across a number of projects. We also know a £320k chunk of warrants were exercised in the last week so programme funding should be very secure despite Covid related delays earlier in the year, who knows the BoD may now want to try to recover some lost time?

@Sanboy On a serious note I really like PM Explorers so I also have positions in ARCM (Zambian Cu find?), HUM (Au producer but decent Au/Ag exploration), GWMO (Au/Ag & Cu explorer) plus of course GGP (Au/Cu) with GUN (Investor fund) as a punt on Rincon (Au/Cu) that is looking to IPO on ASX and has prospective licences near to both GGPs Havieron monster find and Artemis looking to replicate GGPs success in the Pilbara.
Mixture of MCaps, but all in PMs and all have possible possible trigger events for rerate over next 0 - 6 months.
All IMHO and as always DYOR

No idea, but it looks like it is reducing their previously declared stake not increasing it

HI San and I thought you were following me!

GWMO push to monetise the umpteen spoil heaps is laudable, but the REAL excitement comes when the geo-phys picks up something new. I say new, but at the Olympic project they KNOW they are missing the other part of the known vein system somewhere the other side of the fault ... they just need to find it.

Some of these historic workings had grades modern miners can only dream of so it only needs one of those to turn up for a decent SP rerate.

There seems to be 2x truths in mining:
(1) the drill bit
(2) AISC and profitability linked to underlying PM movement
... and we know (1) is now funded via Earn-In at no risk/cost to HUM and (2) is volatile, but we know where the trend is going and imminent Interim Results will confirm profit and what is left of debt to pay down

Looks like the Price Action is forming decent support at 0.185p .. fingers crossed!

Agreed as always that news drives the SP and charts cannot predict Black Swan events, but I personally find them useful for identify where market inflections maybe particularly once I'd hit my top-slice target and pondering the 'Do I or Don't I top-slice?' question.
Personally I've found it a fantastic problem to have and put my 40% top-slice from GGP in 3 other conviction shares that may (or may not) do something interesting. What is not to like?

GUN has broken out and seems to be in a clear uptrend since since 5-Sept indicating clear support at around 1.2p. Hopefully that holds given the recent UK market turmoil.
Given the low MCap it won't take much good news to push this on to Zak Mil's 1.8p near-term target especially if that news is the Rincon IPO where we currently have 28.4% but that will drop given Rincon have to raise AUS$4-5m capital on an IPO due to ASX rules. BoD has indicated that they will be willing to invest further with a target 15% holding post-IPO.
Interesting times & DYOR!

I can't be the only one here fed up with the cult-like ramping that has gone on this BB over the last 2 weeks? Perhaps the events of the last week will allow cooler heads to prevail and balanced discussion to resume?
I posted several Technical Analysis posts from 17/18-Sept-20 that were derided at the time and especially after the 27p after-hours trade went through. So just a reminder to see who was closest & perhaps BB'ers will be a little more open to balanced alternative views and/or commentary?
17-Sept-20 A Pause to catch it's breath?
Well the last run up from 12p to 23.3p yesterday started almost exactly a month ago ... so lets be honest it was due a pullback of some sort the question is by how much and for how long?
The last major correction starting on 23-Jul was from 15.6p down to 12p on 18-Aug & was a 50% retracement from the prior run up from 8.4p on 29-May. So if we get a similar 50% retracement then that implies a drop to 18.7p before we are off again.
18-Sept-20 Price Action
Yesterday GGP formed a Head and Shoulders pattern topping pattern on the 1-hour charts with implied 'headline' at 23.2p which it just broke below this morning. If you believe in Technical Analysis then we should be seeing 21.1p soon for the pattern to complete. .... but heck its a chart so who knows?
... and later that day
Price just sat below Headline support at 23.2p. So it will either explode higher or drop to complete pattern at 21.1p. Worst case massive support and 50% retracement at around 18.7p to 19p. Just saying!

So what is my point you ask?
The Price Action is ignoring Fridays 27p technical spike and this morning the SP dropped to 21.1p headline support from the prior Head and Shoulders pattern at 23.2p which it keeps returning to and testing both ways.
There is a further technical Head and Shoulders pattern below the first with a Neckline around 20.4p; if this is breached then falls below 19p prior downside target become more likely. Technical analysis suggests a downside target of 15.7p which is prior support established between 25-Aug-20 and 4-Sept-20.

As always DYOR and yes I am invested from 2.01p retaining 60% of my holdings after I "put my money where my mouth is" & top-sliced at 1st Neckline 23.21p on 17-Sept-20. Doubtless I'll be derided again for speaking up!

ARC has been stuck in trading channel of 3.6p / 4.5p since 5-Aug-20. Yesterday I gave up trying to get any shares under 4p so had to put up with topping up @4.05p. Happy with my holding now @3.8p average so just need to sit tight for news.