Member Info for buffa

Offm.. Agree with much of what you said would just add that fiat currency is akin to 'legalised' counterfeiting - as Rick Rule likes to say. Successive Presidents can pay for anything at the press of a printers button - adding daily to their National Debt which is going vertical. Central Banks are ditching fiat for 'real' money - gold. That is why POG is not a 'blip' it's reality sinking in.

Jay Powell under criminal investigation. Trump stepping up pressure on Fed Chairman in attempt to get rid of him and virtually impose political control over Fed interest rate decisions. This is bearish for dollar which, in turn, is bullish for gold.

Gold price 'forecasts' emanating from the 'pet rock' fraternity (aka Commercial Banks) are, at best, pure guesses. I prefer to pay more attention to specialists with a proven track recor

In my experience share buybacks do not increase SP - they are generally a means for directors to achieve bonuses. Many years ago I was invested in BP a Company which had forgotten it's raison d'etre and resorted to a regime of everlasting massive buyback programs. Directors benefitted from achieving EPS targets, obviously, whilst earnings stagnated but share numbers declined. The BP price is dismal over many years as a consequence.

Also interesting how Starmer will react since UK forces assisted the US operation in the N Atlantic. My fear for some time is that Putin will act against the UK which he has stated to be Enemy No1 - on the basis, he believes, that the US will not get involved in coming to our aid.

Hi Element. Thoughtful post as usual. When I woke this morning to discover an overnight jump in POG by $70+ I obviously wanted to know why. Well I think Clive Thompson's short video explains that in detail (by the way it's nothing to do with Bamps share buys/sells!). Here's the link...https://youtu.be/c6i-hlWB_h0?si=BAkJDI3ZJXjI-5ZM. I believe that the fake news overnight led to an ASX jump in SP which in turn led to a corresponding jump in the AIM price on opening this morning. Those investors who were aware of the false nature of the strong POG increase were able to sell into the artificially high SP before coming back in when reality struck. As I write the POG is still high today which shows how jittery the market is. Hope that makes sense (suffering from a cold/man flu).

Was hoping to hear that at least one core was showing gold at x/tonne over so many metres etc. In fact anything to encourage me to continue holding my substantial holding. In my years of experience a mining company shouts from the rooftops when they hit commercial scale gold. After that they continue drilling to determine scale of deposit. Interview seems to say waiting to determine 'scale' before announcing any commercial gold at all. Others views welcome.

Hi Arok, as I've posted before I am of the opinion that the largest investors have spoken to the Board to say they, as a large group, would be happy to accept an "improved' offer of 28p so that they could take their money and devote it to more important matters on their agenda. In an uncertain world with a potential market 'correction' around the corner get out now rather than wait several years for mine development. I don't think the Board would have taken unilateral action to recommend a 2p additional offer without strong investor pressure.

Hi Element, I usually update the stats monthly so may be out of date but, in order, my list currently reads Newmont, Wyloo, Tembo, Firetrail, Blackrock and Van Eck. At present retail, we mortals, still hold a sizeable stake in GGP which is good - the more we hold the higher the SP required for high-rollers to acquire. I hold firm in the belief, meantime, that SD can walk on water.

Don't get me wrong as I will be banking a healthy profit from SOLG but, as I said 'I know my place in the Investing World'. As for a 32% 'profit' in SOLG SP - that frankly is for the birds. In the days before this recommended bid the SP was actually higher and somewhat earlier than that PIs were buying at 38p I seem to recall. No sour grapes because, fortunately, I have reinvested my takeover profits, each time, in GGP so that my stake now is probably about 80+% of my portfolio. So, let the good times roll and all power to GGP.

Hi Element. As a PI I 'know my place!'. I realise that once the high-rollers move into a position (shareholding) in a Company they carry more clout than we mortals. A case in point is one you mention - SOLG - three major SHs (Chinese, BHP and our old friends NEM) have basically 'informed' the BOD that they would 'accept' a price of 28p/share after the Board rejected, out of hand. a bid of 26p!! GGP was basically built on PIs like myself and all the posters here, over years, on AIM. Now that we are on ASX and entering 'indices' the high-rollers can take part in the action. We all have great faith in SDs ability and I hope that this time I will still be invested in GGP (and reaping the benefits) for many years to come.

...to see NEM and BHP given a stake in the Chinese Company after takeover. Personal experience that NEM prefer others to build mines and develop whilst they sit on sidelines with an investment which will literally reap dividends in due course. Called a 'sweetener' it happens all the time. Big boys vs Small Fry - guess who wins?

Seen it all before. The acceptances so far include the largest investors who have probably been 'sounded out' by the BoD over recent weeks. Get them onside and almost a done deal. If the large Western investors, already sitting on a very nice profit, believe (like Warren Buffett) that markets are due a major correction then it makes sense for them to sell and sit on cash. The Chinese mentality is more Empire building for the future and buy, at distressed prices (my view of current SP), in order to position China as the future major World economy. To repeat, I have seen similar play out over a number of first class prospects over the years and am hoping that another (GGP) manages to resist an opportunistic buyout.

My answer is quite simple - when NEM, BHP or even the Chinese sell. They have more insight into the true value of SOLG than any small investor posting here. They do not let money sit idle, earning no return UNLESS they anticipate a future large capital return. In the recent past NEM went through a process of divesting itself of anything that was too insignificant - that included a large part of the asset which is GGP. If NEM prefers SOLG to GGP then I will keep adding to my holding.

I agree that it will only be the assay results that determine the next move for WSBN. I was hoping for the first results before the end of this year. I appreciate that the usual 4/6 weeks processing time might have to be extended due to increased volume of activity but if nothing by end Jan next year I shall be asking questions.

Interesting Company. Why? Jiangxi, Newmont and BHP hold about 1/3rd between them in roughly equal measure so unless they use the Auction Ring technique between themselves then, in theory, they will not allow a low ball takeover of Solg. Other IIs hold about 24%+ with the remainder PIs. The Chinese bid is pitched at roughly 1/3rd NPV - so good work if you can get it. My view is heavily influenced by the 3 largest SHs who seem content to park there cash here until such time as the situation moves in their favour when I would expect the Mother of All bidding wars to break out.

Hi Dip, one of the factors which determined my original investment was the quality of SD and the BoD. That was some time ago before we took ownership of one tier 1 future mine, 1 producing mine and a production plant and a massive uplift in the gold price which benefitted the Company enormously. I simply question, given all that, the rationale of moving into the ASX given what I consider to be a depressed price AND the reason why it's (imo obviously) so depressed. I have seen something very similar many times before prior to a company being taken over with perhaps a 25% premium to a depressed price. Overall I hope that GGP remains in our hands at least until it reaches its full potential but one of the reasons I'm so heavily invested in this 1 stock is simply because my low ball limit price orders keep getting filled.

...remained solely on AIM our SP would have been much higher today - for all the reasons that have been posted time after time. I obviously can't prove price manipulation since we joined ASX but I've experienced similar with other investments in which exposure to bigger 'players' led to low-ball offers to takeover just when the heavy lifting had been completed by smaller private investors. Yet another of mine - SOLG - is now in that situation. Ar a relatively low takeout price the original investors - the BoD - can retire with a fortune. LTH ordinary investors can make a tidy profit BUT nothing compared to the eventual true worth. So I hope SD can assure us that the BoD will not be tempted by an opportunistic offer in the near future. We'll see.

I posted on the 27th that I had submitted a question for SD at the TH meeting (sorry for the abbreviations) regarding the non-benefits of listing on the ASX. As a LTH I invested in GGP after a thorough evaluation of its future prospects and I believe that its time on AIM.worked ti GGPs benefit. However I am firmly of the opinion that had we temaine

I have submitted a question to SD for the Town Hall meeting that seeks his views on SP in a wider context - namely the original reasons for listing on the ASX. Those were access to greater liquidity and an environment more savvy of mining. I would say we have everything we need re liquidity!! But it appears that continuous good news has little positive effect on the valuation of GGP. Why should I be concerned? Well I have previous experience of investing in Companies where SHs had supported the Company to develop and become viable only to then accept a low-ball takeover offer once the 'heavy lifting' had been borne by the LTHs. At the moment I'm concerned that GGP valuation bears similarity to those instances and that the future benefit of a massive tier 1 producer in a world dominated by ever higher gold prices will be to a foreign (often US) or to private equity - not to those who invested from the early days and then throughout.