Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I sold half of my holding yesterday for 2 reasons... One being that 9p has been my target for a very long time and I like to try to stick to the plan , and secondly I need the money. When I first invested in the stock it was under 1p and I added , got stung with the NM exit , bought more all because I had the luxury of a decent income . Over the last year, and especially this year, my personal income disappeared and I was down to £1000 pm to live on... As I had my biggest asset (by far) in GGP stock, I slowly sold off small parcels to pay bills etc each month but managed to hang on to most . Reaching my target and selling half means that whatever happens , I am financially secure for at least a year and then hopefully I can reestablish my other income. I still have 500k shares but selling the other half was gut wrenching, but I have to do it to be safe. I feel almost naked not having the position I have been nurturing it for so long.
I have watched/read this BB for many years and it has been a rollercoaster of emotions, with wonderful posts met with ridiculous ones, intelligent quotes met with moronic ones, but nevertheless they all managed to create a balance of what we all felt . I , at times, questioned the more absurd price predictions as they were designed to raise peoples expectations.... If it is said enough it becomes the truth... I think that was Goebbels philosophy... but even they excited the senses and made one believe it was all possible. To be honest, some of those ramps actually stopped me selling some at 6p , and I borrowed the funds I needed at the time instead, so as much as I didn't like them , they have made me money
My personal view is that NC will buy Hav and offer GGP cash, maybe some NC shares and a royalty agreement. Whether the deal is accepted by GH or Shareholders if they are asked remains to be seen. I want to believe that NC will pay up for all the many reasons quoted on here over the last few months, but as the will own 70% and another 5% at a not unreasonable level, they wont have to pay silly money for the other 25%... maybe I am wrong.. I hope I am, but it was another part of my decision to reduce my holding to a more less risky stance, not that I think there is any massive risk now.
I want to thank all of you who have entertained, educated and frustrated me on this board over the last 3 years. I wish all of you, many who are in amazing positions , huge success and I will be with you with my 500k , trying not to think of the other 500k and how much it would have made me ... GLA
If I had kept a balanced pf this year, I would be in the gutter... As I have 60% of it in GGP , its saved me big time. Its high risk, but I think the only way to make money in these markets is to pick your favourite and lump on...
So, I see my new shares in my account. My £ 12,162.22 investment in Val is worth £72.60... but it looks like its now trading higher.... So do you think I should invest another £72.60 and double up or play lotto this weekend ? Luckily this lockdown means I dont have to draw so much out of my pension so I am flush...
It is a good equation, and I havent seen that before. I must admit that I find the use of $200 / oz higher than I have seen before.... When I started in this business, it was $24... but for most of the last decade I have used $100. But it is justifiable considering positioning close to tower, and NC black caving expertise. So , as Schlemiel say.... Of how much. Exciting times. I may have to re evaluate my 9p target.
All this talk of buyouts and the amount they are possibly going to spend confuses me a little. My understanding was that Newcrest will own 70% of Hav by the end of phase 3 with another 5% up for grabs at "fair market value" , whatever that means... So Newcrest only have to buy 25% to gain total ownership of Hav.. Will they really be spending the sort of amounts people are talking about on here for 25% ? Please can someone enlighten me ?
This CV19 related delay is hardly bearish, but it gives the MM's a chance to shake a few of the weaker, perhaps more recent buyers out by dropping the price, and getting some stock on their books. Given that there is probably plenty of buying coming in the new tax year, this represents their only opportunity to get ahead of the game. Buy this dip.
Interesting to see many mining companies coming out with their Covid 19 statements, that they are either reducing workforce exposure or in some cases shuttering the mines. This has had some negative affect on their SP not surprisingly. GGP seems to be in an incredible position in that production is not affected at all, because there isn't any, yet the potential in the ground offers a way to get gold exposure for those looking for the hedge. Win Win for us.
I am surprised at the severity of the sell off, but right now, whilst everyone losing their heads, cash is king, and any business not producing it is vulnerable. CV is spreading and deaths increasing so it is tin hat time. Govt measures are only increasing the fear it seems . At some point we will look back at these prices and wish we could have been buying here, but I cant do it right now sadly.
Have to agree, though maybe not as soon as this weekend. The face saving part comes later imo. I reckon the russians can hold out longer, a lot longer actually. Thanks for the link.