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You are spot on with this Speedy. It would be just as easy to ask why money is so valuable to us as it is only printed on paper which ordinarily is not worth much to us and can be printed ad infinitum.
Gold is much rarer and takes considerable effort to extract from it's native environment. As you rightly say, money, gold and any other precious equity is merely a way of measuring services, products offered. We used to measure it with goats and chickens etc, now it's cash and gold etc.
If the price got to £1 next year I would be delighted. I think it's a tough ask but we can dream. You can imagine how I would feel at £11 or £12,or even a quarter of that but the realist in me believes that would be in the realms of fantasy. But hey, stranger things have happened.
We should never forget of course that they are also shareholders. I'm fairly sure they would not deliberately do anything that intrinsically detracts from the share as it will affect their, not insubstantial holding.
I'm erring towards 5 or 6. It makes perfect sense to know what's on the table for negotiation.
I still think we will get a small percentages similar to Hav. GGP is basically a few guys, some drills and some trucks, with no way to get the gold out of the ground and I don't think we could get the kinds of 50/50 deals that some have been suggesting. If Scally is what we believe though, it will be a very nice pay day for us all.
Hopefullygold
I'm pushing 60 now and you have a very good point of view and one which cannot be ignored. Though some are wining about the deal I don't think they appreciate how long these things take to get underway and I doubt they would have the patience to sit and wait for it to come to fruition. Others have said that it's not the percentage as such that is an issue but the amount that we let it go for.
The price difference between Hav and the latest JV's is 45m and although that's a hell of a lot of money for us, when you are dealing with multibillion dollar companies it's chickenfeed. The time that GH has saved with this deal is, in my opinion priceless. It means I am more likely to see and make use of the returns before I'm six feet under.
My biggest issue is that their GGP price action freezes quite regularly and has caused me to miss buy-in opportunities on more than one occasion so has cost me money in real terms. As my investment is in my ISA I'm stuck with it now but any future investment will probably be in IG.