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Think we are starting to see the value of the ASX now.

Yesterday was your typical PI panic. Normally, that panic would’ve deepened today and likely for the next week, grinding us absurdly low.

Now, given the high levels of appetite in AUS and generally higher levels of institutional ownership, the market is forced to correct upwards.

Bodes really well for our current valuation, hopefully setting a floor for the next leg up which will likely be when the WDU and Telfer MREs land.

Telfer ounces is the missing link for true peer comparison at the moment in my opinion.

I hope that investors here learned their lesson from the last short, that being, it won’t matter much.

Let’s assume a worst case scenario where guidance is missed (can’t see it happening myself) and a cratering in the gold price (I’ll let you decide how likely that is). That’s a pretty outsize position to then get out of prior to March sort of time when the Telfer updates land, which are bound to sure up the fundamentals and prove accretive.

So a) a lot needs to go against the grain for the short to pull off and b

B) they will then need to unwind the position pretty sharpish.

The short got torched last time, I don’t see any reason why it can’t happen again.

Agreed in a general sense mining is risky, but as with anything it’s a sliding scale:

Jurisdiction risk

Financial risk

Execution Risk

Explorer vs producer

Resource Risk

Cyclicality of the sector generally

Unforeseen issues impacting operations

You’d have to say on all but the last two Greatland is coming up smelling of roses.

I don’t think it’s prudent to lump all miners together. A titan such as Newmont is very prudent in its operations and well able to withstand shocks. Some penny dreadful in Zimbabwe however I agree with your sentiment that it’s the riskiest play in town.

I’d be fuming if any ounces are hedged in this gold price environment. Puts yes, hedge no.

How does one get into the WhatsApp?

Merry Christmas chippy. And merry Christmas to you all.

Been a truly transformational 12 months. We are on our way to ruling the Paterson!

Also got the chance to meet fellow investors at the Sheffield meet earlier this year which was a real highlight. 2025 has been the best of my investing life. Can 2026 top it? I have a sneaky feeling it will.

It’s pretty staggering really.

The US publishes what is on the surface some very strong growth data:

US economy grows at fastest pace in two years https://www.bbc.co.uk/news/articles/c62n9ynzrdpo

And gold blinks for a moment before heading back on its upward trajectory.

What makes this interesting, in my view, is that the narrative for gold seems to be constantly expanding. The trigger was tariffs, then it was a more generally ailing US economy, now it’s clear that what is driving gold is truly global in its scope and scale. Positive US data would’ve clobbered gold in the ‘tariff’ bull run. Now it makes no difference. This is about the monetary fiat vs assets end game.

Tells you how much the gold bull has evolved, and how much more powerful the moves upward could be from here on in.

gold is going to have a go at $4500.

at those prices, do some *** packet sums on ggps cash generation for 2026.

then you’ll see how absurd the current valuation for ggp is.

yes a few have had their payday etc but this is barely out of the foothills!

Going to the moon has been spouting that tripe since it was 240p. Until quite recently he called Telfer tulf ffs.

Tells you all you need to know about how much credit to give this guy. Less going to the moon more living on it.

Well we certainly have a market here with interest on the short and long side.

I honestly think that if gold holds or keeps going at this level, the market will shrug off results at the lower end of guidance. The path to havieron is laid out, the ore is there. Executing on these two points is way more business critical to a quarter that has now largely been and gone IMO, and I’m sure all the institutions that have loaded up would take a similar view.

I’m not saying that there won’t be a trading opportunity if results really disappoint, but it’ll be short lived and will likely expedite news re drilling results at Telfer etc.

A slightly surreal day today. I would characterise it as a storm in a teacup really.

The markets are fundamentally forward looking. If gold keeps ripping like this then does it really matter if results come in at the lower end of guidance? The cash generation and torque will win out in the long run. Resource expansion will prove similarly accretive.

I don’t think Bamps can be blamed for slicing. We are each masters of our own destiny. A hit to production may well be on the cards and Bamps has positioned himself accordingly, the market seems to be taking another view of it…

Great post E1. A real sense of camaraderie on this board, a truly unique stock and an even more unique community!

I’d have been all over that Ratboy but I’m on my way to the wolves today. Let’s hope we can get our first win although I’m not holding my breath haha

I wonder if Charles archer has unwound his position? We’re at a fiver but by his calcs still not comparable with ASX peers, especially given we were at about $3300 gold when he published his analysis and now at $4k. He always said this was his exit point…

Let’s not forget the important role that the move to SETS has undoubtedly played in this rise.

The grubby MMs milked this cash cow for too long, at the expense of the PI: first Macquarie and then all the ASX trackers (remember that monster trade that went through on rebalance day?!) day after day this stock getting fiddled like there was no tomorrow.

Shows again GGP looking out for the little guy with that move to SETS, just like the short production RNS blasted the short when it first opened.

That’s the sort of company I want to be invested in.

A great Friday for all here to see us clear a fiver. Early days of course and let’s hope it keeps motoring on.

There have been dark days here, even very recently with the smash into 240. Sadly we probably had a few capitulate that day.

But today we look ahead at the path laid down by the wonderful Shaun Day. Havieron primed, telfer printing cash and revealing new finds with every drill, SD making moves with farm ins. The Patterson is ours!!!

Don’t forget our concerned keyboard warrior John Bull. Will have to go back to his paymasters and tell them the short failed miserably.

And of course thanks go to Plode for the ‘plode effect’ every time old ploddy fires up we go on a run!

29 million volume. Am I reading that right?!

The stage is set for the key battleground of £5 today. Will it be breached?

Remember MH01 was much derided for his £5 by Christmas.

Looks like he’s getting the last laugh!