Member Info for Chuffchuff

The price is about what it is a month ago so perhaps it's a just a correction of sorts? I guess we'll see if it holds as some may have bought highly speculatively on the overnight drama. It's marginally above my purchase price now which is always good. Prepared to wait it out with a bit of volatility week to week.

Jester, there are gradual steps like EV's and the efficiency that comes with technology and AI. I do throw my hands up occasionally at the general disregard regarding the environment amongst many (personally I would go with the 99 years knowledge of Attenborough). That said I watch carefully and I've been heartened by the mitigation implemented first by Newmont and now with GGP. Newcrest was another matter and some of their environmental breaches and their response to it did concern me greatly (which I posted about some years ago). Even from an entirely business point of view, if you screw up environmentally or cannot demonstrate adequately how you will return things to roughly how they were in decommissioning you will not progress in jurisdictions in which we operate. The same applies to relations with First Nations (indigenous people's). SD and his team appear to have negotiated successfully on licences allaying concerns and bringing benefits to local communities. Nevertheless the industry is not exactly "clean". However, I take a broader view on all my investments, some of my existing profits go to charities and an even larger chunk in my eventual will. You could always do similar (allocating to environmental projects local or international) as I believe the profits we all attain from GGP in the coming years should enable us to support our families or further afield with good causes if that is your wish 😊

This is what impressed me the other day, the advancement at Telfer alone is not just about the drill bit, or previously passed over areas becoming viable due to gold price - it's about efficiency. It was clear that Shaun is overseeing a sweeping overhaul of what is revoverable and how best to do it. Each tiny percentage of extra efficiency or recoverability equates to millions of pounds over time and AI is part of that efficiency.

Regarding M&A Shaun appeared to have the biggest laugh of the night when commenting on Antipa's not so subtle overtures. The strong inference that "you need us more than we need you" was left hanging in the air to smiles all round.

Another thing that struck me from yesterday's TH was that in spite of Shaun's relaxed demeanor, when it comes to making efficiencies he and his team are leaving no stone unturned. It might have been easy to sit back on the gold price rise but in fact he has been reducing AISC which was comparable to March '23 levels when inflationary pressures might have naturally put an upwards pressure on this. Furthermore, he suggested that in the past having a day where processing might have been less efficient with some recoverable profits escaping into tailings, they are on it immediately and correcting it straight away. It does make me wonder what may be sitting in the tailings with that rising gold price! He is clearly getting greater efficiencies out of the same workforce. Very impressive work looking at micro-improvements everywhere.

Thank Bamps. Great to meet you too (and many others, but also a few who were pointed out to me but I didn't get to speak to - next time I hope!). It was a fantastic meeting and I'm blown away that Shaun could both come across as so relaxed but so switched on at the same time - if you know what I mean. Hats off to him. Answered every question going with ease and I'm as optimistic ever that great things are to come.

Thanks Dip. I'll aim for the pub 👍

I may delay my own arrival slightly. Are you guys still aiming to get to the venue for 6 or are you likely to stay in the pub a bit later? I'm not on the telegram group

It makes more sense to network at the Cheshire Cheese until 7pm I would have thought

I share a bit of skepticism that Shaun would make it for 8pm but if he only has walk on luggage and gets through passport control quickly it is only 40 mins on Elizabeth Line to Liverpool St which isn't that far from the venue. Very tight but 8.15-8.30pm is doable with luck

Disappointing but thanks for the heads up guys

If you'll permit me an aside, for those attending tomorrow there is a spectacular and moving display of ceramic poppies in front of the Tower of London in commemoration of VE Day. It is a very short walk away from Tower Hill Station where many will arrive and I recommend allowing a bit of time to visit.

Well I retired two weeks ago so investment-wise I'm on borrowed time and overdue 😉

Yes, nice one TT. Please note that within a very positive assessment of GGP, Amati spelt out that they actually sold some of their holding as the price rose to stay within their weighting (they bought in at a good time). This has played out several times folks amongst formal or informal investment clubs and some individuals. Selling is not always a sign of lack of confidence, it is a strategy for some. I have not done so myself, but it's a reminder that the current phase we're in will have some pull-backs even though some of the sellers believe there is still an upside, it's just hedging. I have sold none (that doesn't make me wise) but also bought more at 70% above my average just a short time ago and even that has gained small profit. Derisking increseases my willingness to stump up larger sums for a lower reward ratio. Easier when we know there are markets yet to wise up and/or have access. We all have different strategies based on risk and everyone but the most foolhardy will have a sell point for at least some of their holding even if years in the future. But I buy for now with trickles spent elsewhere none of which are yet showing the promise or movement this has.

Although I don't follow the minutiae of Australian politics beyond the odd news story here I would imagine a stable government without the unpredictability that might have otherwise occurred can only further GGP's case to be in one of the safest jurisdictions in the world. Another welcome piece to the jigsaw as we move towards ASX I hope.

I agree. Years ago I never envisaged that I would have such a superficially unbalanced portfolio, but the global economic climate re-confirms why I at this point, and I'm not uncomfortable with it. If I hadn't managed it in the way I have then I would be underwater having done very well out of global tech the past few years as a bedrock of my overall portfolio. There will be another buy in point but right now gold and associated stocks is for me both the safest but also potentially the most dynamic way to beat the prevailing market. GGP tops the list for me by some margin right now. DYOR

i barely look in here these days such was the state if the board, but repeated posts about omar bongo when referencing omar ahmad when they share no common ancestry has ****** overtones to me and i will report them as such

"Not aimed directly at you" but addressed to "Chiff Chaff" 🙄

Cartunehead as you at least used my correct moniker rather than fire off in a derogatory way I will respond to you once again. At what point have I suggested the vote is not a given? The process has been spelt out and (like you I presume) I don't see the PI vote making any difference even though I believe voting is still worthwhile because it informs the board where PI's are at whichever way you vote. The Fidelity notice even spelt out the 20-1 so I don't see how you dont understand that either? Finally, I have had misgivings in the past about the retail offer. I haven't gone back over all of it, but I don't think it was handled particularly well even if without it we probably would be the mine owners and producers we are today. What you have done is take a factual post by TT as well as my factual follow up to it and make all sorts of assumptions about me and my understanding in quite a derogatory and demeaning way. So perhaps get off your high horse and let people think for themselves. We aren't that stupid as to misunderstand where this vote will go. As a self-confessed disruptor you need to pick the right battle and make fewer assumptions about what people think rather than what they say. End.

Carrothead, the obfuscation is on your part. No misunderstanding here, but that you chose to misconstrue means you are here to disrupt. Odd.