The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Great debate on here today. Surely, this is what a board like this should be about? Research and argument. Just without the name calling.
Mercedesman
Perfect: thanks
Casey
So here's the fact sheet for the global fund.
https://www.vaneck.com/etf/equity/gdxj/overview/?country=US
OK. I've got it. £6.5 bn. Now makes sense. Glad to have been put on the right track. Really good news.
RationalAssessor
Sounds great. Can you provide the source for your figure somewhere? As I have what claims to be the whole GDXJ fund in front of me.
https://www.vaneck.com/uk/en/library/fact-sheets/gdxj-fact-sheet
Would be delighted to be wrong.
Casey
There are some crazy big numbers being put about on here. Would love them to be true. But I can't see it being so big.
By my reckoning, the ETF has a fund value of $368.9m. If it's allocating 0.44% of the fund to GGP that's great. But it would be $1.62m - or £1.26m.
£1.26m is still a lot. But not the sort of crazy big buy I've been reading about on here. Have I missed something?
It's funny, isn't it? (Nearly) everyone on here seems to agree on matters of gold, mining, investments, etc. But let the debate move on to something else and complete disagreement breaks out. I find some of the today's comments on politics weird and wonder what country some colleagues are living in; no doubt they would say the same about my views if I set them out. But we can all get loads of that nonsense name-calling if we went on to twitter and typed in QAnon. So why do it here?
GGP
HZM
ARCM
No it's not. 12.08 to sell. They're trying to worry PIs.
.. I'd be buying at 12.6p today. With gold over $2,000/oz it seems a no-brainer.
It's back up to $2,000/oz
Remember, GGP shares are held more than most by retail investors like us. What's different about us: we're more likely than IIs to get excited and buy or sell on a whim, because we don't want to miss out or we're worried that the bottom is going to fall out of the SP - especially if, as many of us will have, that's happened to us before.
I agree. A great buying opportunity, so I've just bought some more. Buying on the dips is the way to get value here. We're due three or four sets of positive news in the coming month or so, and having corrected, gold is now on the way up again.
This article is liable to get greater readership.
https://www.thisismoney.co.uk/money/markets/article-8597289/Now-gold-tipped-reach-3-500-ounce-amid-stock-market-turmoil.html
An interesting article, if you've 20 minutes to spare. I guess demand for physical gold is going to keep on growing. Won't hurt the GGP SP any.
https://www.goldmoney.com/research/goldmoney-insights/gold-at-2k-so-why-the-fuss
It's not obvious why GGP price would drop on a short-term movement in the gold price. In any case, gold is about the same price ($1705) as it was two weeks ago; and GGP is at about the same price as it was two weeks ago.
I just got an email from H&P granting me access. I told them I was an individual, so if you haven't been contacted yet I guess you should be given access soon.
What a difference a day makes. Yesterday, joyful over the latest assays; today deep concern over SP drift. For what it's worth, I've noticed a strong bounce in gold price over last 30 minutes - up from 1570 to 1600. Who knows if it will be sustained.
Cashking
You're right - SFR down a massive 0.17%. We'd all better sell. It's obviously a reaction to the terrible news that SFR has found shallow, high grade copper at A4.
An alternative prognosis: SFR, as a producer, is susceptible to the rise and fall of copper prices. Coronavirus has hit copper prices (so e.g. Rio, Glencore were down 2-3% yesterday). SFR would have also fallen by similar % without the A4 drilling news, which added to SFR's price.
It's good news for SFR, even better for MTR, given its uncapped net smelter royalty.
For once, I agree with you Cashking. A share buy back isn't magic - it has just the effect you describe. It makes sense if and only if the value of the company is (significantly) greater than the current SP implies. Clearly, MTR management believed it was/still is. But value will out only when we see some more positive news.