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Hi Pbow, I would be surprised if the UAE weren't interested in gold given the awakening revelation worldwide that dollars are bits of paper and that China is even setting up a gold exchange in Saudi Arabia to enable trade to be conducted outside the SWIFT (dollar) system. Even the EU is now dealing with India outside the SWIFT system when it suits both parties.

...annual exemption allowance from £6 down to £3k. Would not be surprised to see CGT raised to Income Tax level in Budget.

At 18% for basic rate taxpayers the current CGT rates is, imo, already pernicious for shares outside an ISA - compounded by the reduction in annu

Russia selling down its gold reserves...

My understanding is that the gold in Russia STAYS in Russia and that this headline is designed to mislead. The gold is being moved between entities within Russia as a cursory examination would exhibit.

Hi Droverman looking back on my short post I've assured myself that the word 'advice' was not used. In fact I said 'viewpoint'. As for this Emeritus Professor's viewpoint I think it worthy of consideration vs the Chancellor's whose credentials in this discipline are somewhat debatable. I know what I expect to be the Market reaction after the 26th and am placing my investments accordingly. I live in hopes of being pleasantly surprised but we'll see soon enough.

This is a link to one economists view of the 26 November Autumn Statement. It may help some in their investment decisions. https://youtu.be/O_6AdrMLWbw?si=DFdBuMbAXU5LXRYk

Watched our Defence Secretary, John Healy, big up the threat from Russia in his press conference from Downing Street this morning. Same time Mike Pence (US), speaking at Chatham House, warning of international threat - obviously orchestrated. Meanwhile gold price has pushed back up above $4100 - coincidence? Technical Analysts have been predicting a drop in gold price, daily, down to $3800 -3900. Uncertainty brings a move into gold. In a long lifetime I view Uncertainty now at its greatest level since the Cuban Missile Crisis. We live in Interesting Times.

By all metrics GGP is neither a 'Junior' mining stock nor yet a 'Major' stock (pre-Havieron). As such it has 'Risk' which is exemplified in SP movements particularly oft-repeated significant drops shortly after opening SP on AIM - before recovering. My broker has got used to my Limit buy orders at significantly lower prices than the opening price - many of which get dealt. The other aspect which grates with me is the assertion that the SP correlates with the Spot Gold price. As a perceived 'Risk' asset i maintain there is a leverage element as follows - my assessment, i believe, confirms a strong, positive, yet highly elastic and non-linear correlation between the spot price of gold and the share price of Greatland Gold PLC (GGP) during the May to November 2025 period. GGP functions effectively as a high-beta, leveraged, instrument for accessing gold exposure, exhibiting significantly greater percentage gains (over 2x the commodity's rise during the systemic bull market. However, this leverage is symmetrical, meaning the stock experiences amplified losses during systemic corrections or periods of profit-taking. My personal conclusion, as I have previously posted, is that GGP is a behemoth-in-waiting and I think my valuation of A$10.50 is a low future estimate.

Hi Element, totally agree with everything you post. I would just add, for clarity, a few additional considerations. China, as the largest gold producer (by some margin), does not export gold - in fact it is proposed to be the largest importers of gold over many years - interesting? In addition China has been one of the main drivers of the gold price via constant buying of gold resulting in a continuous movement of gold from West to East. It is patently obvious that they are setting up in opposition to the reserve status of the dollar - via BRICS and establishment of gold vaults in Hong Kong and Saudi Arabia to enable trade in non-dollar denominated currencies. The printing of fiat currencies has been likened to 'legalised counterfeiting' by Rick Rule and others. As for Bitcoin its value appears to correlate to eg the Nasdaq which is certainly in 'bubble' territory. Concerns are that the long anticipated bursting of that bubble will destroy the BTC price - hence recent 'nervousness'. I could go on obviously but do I need to?

Interesting buying early today. At 08:12 144,423 bought @ 6.98p/ then at 08:34 288846 bought at 7.25p for a combined total of £31k. What attracts my intention is that the number of shares purchased at 08:34 is exactly 2x the number at 08:12 This suggests that the 2 transactions were from the same buyer whose aim was a certain number of shares and/or round figure cash value purchase regardless of actual SP. That attracts my attention. Will now watch for any other large purchases today/this week.

Hi Patrick. Likewise I was an early buyer at the opening this morning when I was alerted to the ca 5% fall in SP (relative to close on AIM yesterday) vs a drop in the gold price of ca 0.6% between the same time slots.

Hu Element, just time in this short break to propose my thesis as follows. Accept GGP AISC of AUD$2800 - their figures. That's ca £1398/ounce mined. On June 1 the gold price closed at £2515/oz (IG figs) which equates to £1117/oz profit to GGP. Fast forward to November 1 with gold price closed at £3219/oz. Profit to GGP now £1821/oz. Increase in profit over that 6 months 63%. SP on June 1 was 325 at close, increase that by 63% equilibrates to 529 - which, if SP reflected increase in gold price/profitability, is what SP should be sitting at now. In AUD$ that is 10.6 - a figure not too far removed from analyst expectations! Why isn't the SP at that level now? Many theories abound on this board and all have some merit but my tuppenceworth goes something like this... thus far all the cash banked by GGP is not considered as Profit because it is to be invested in developing Havieron (+ a bit yet to come). If that cash pile could instead be used to pay a dividend and/or make share buybacks then 529 SP is justifiable. Until such time as divis etc commence then Risk constricts SP. However SP can be de-risked progressively by all the usual elements - gold price increase, mine life extension, resource increase and release of satisfactory FS. I am of the opinion that all these elements will come good and the realistic SP of 529 with today's status quo will be doubled or more in due course. As I say - just for fun.

Hi Element, just for a bit of fun I'll put a proposal to you later wherein I propose a current SP for GGP of ca 529 - just going into a conference atm so will post later.

Hi J, I agree with everything you say which reinforces my bafflement why the Market does not see GGP as we do - bearing in mind that the miners are considered a 'Leverage Play' to the gold price and that every $1 increase in the latter is pure profit to the miner. Since the gold price at 1June for example closed at $3311/ounce compared to 1 November at $4337 that equates, in theory, to an extra $1000/ounce PROFIT to the miner - that is enormous and simply reinforces the disconnect I'm seeing.

Hi Marshall, over many years I have accumulated physical gold and several gold miners - including GGP from its early days. My experience, fwiw, is that there is a disconnect between the price of gold and the relative valuation of its miners. As an example just quoted 404 by AJB to buy GGP - almost as if the 2.6% rise in gold price last 24 hours + comments by GGP early this morning never happened - without doubt the latter never positively impacted the SP. Luckily my physical gold investments have offset the lacklustre performance of GGP and I remain wondering whether I'm wrong in my evaluation of GGP or if the Market is? I still mentally price this stock at pre-ASX listing ie currently ca 20p. That comparison emphasises the disconnect given gold price from just before ASX to now.

Hi Snorkler, as I write, gold is above it's recent resistance level of ca $4160. If it closes the day above that level I would expect a test of the next resistance at about $100 higher. Meantime GGP plods along taking little,if any, notice of asset price.

Https://youtu.be/B_uKCrwlOK8?si=El6rR8I9ewm9-km- Hopefully this link works to direct you to a current Clive Thompson youtube video in which AV is extensively mentioned in the light of goverment involvement in how investment funds are allicated.

Hi Bazza. A goid question which needs answering. Gold miners are a 'leveraged play' on the Gold price. Cutting to the chase in simple terms it means that a 1USD/oz change to the latter translates DIRECTLY to the profit bottom line of a mining company. If you work through some real figures for any company you will easily see why % change in commodity price should not equate to same % price in mining company. So the leverage works in both upswungs and downswings in gold price.

Hi Element, thanks for your many insightful posts. If I may I would like to add my view fwiw. The market I watch is the US not the LSE which is a comparative minnow. I have held physical gold for years as a long term store of value. I buy physical gold but never sell. On Friday last I was advised to expect prices to fall initially to USD3950, then down to USD3845 with a potential to USD3695. This was to alert me to buying opportunities. Reasonwas that CTAs were selling in order to hold cash going into the 'buying season' when they reinvest. October up to Halloween is traditionally the 'selling season' for these Commodity Traders (I won't bother with the whys and wherefores). So far the advice I was given is playing out with gold hanging onto USD3900 as I write. My understanding is that November will begin the reversal upwards in pricing. Meanwhile I await further ppportunities to add more GGP and the physical as well.

Just added at 343.9999 with AJBell.