Member Info for corradus

"Don’t see any evidence that funds are buying yet. Really need the gold price to calm down. At this rate the bounce up when selling stops could be huge."

GDX need to have their GGP fund weighting of 0.58% by the close this Friday... if not now then when? The $132m question...

"The updated holding list from 17 Mar shows 1.3m shares bought so far, representing 0.04%"

So on those figures, and fund value at that point being $27.47B what is still required?

1,300,132 shares 0.04% => 0.54% still required = 18,851,914 share IF the shares were still at the price already paid, which we can be fairly certain I think that they won't be so more than this (qty).

Or another way - 0.54% of fund value still to be invested in our shares to reach weight. 0.54% x $27.47B = $132.148m... (so far $9.788m invested) (All figures using fund value at $27.47B )

As previously mentioned imo it makes no sense to announce it before the GDX implementation date this Friday at close. The announcement on 13 March confirmed our inclusion and consequent share buying required. This is mechanical in terms of volume and requires a set value (not number) of shares to be bought. This is the buying pressure, and the more shares needing to be bought the higher it is.

If news caused a 10% hike then, as previously posted, 9.09% less shares need to be bought... so MRE timing matters.

Monday next week or later is my hope. We shall see.

GLA

C

"Only negative is not hitting the inclusion @£7+."

I think we were on the eligibility date (ASX SP at close on 27 Feb) when the numbers were "recorded"...? Around AUD 13.75

"If they are buying 20+ million shares surely it wouldn’t matter to much"

It (positive newsflow) would matter imo if it caused the SP to rise significantly. Let's say it went up by 10%... then the number of shares needed to meet the 0.58% fund value (fixed) drops by just over 9%. On 20m that's around 1.8m shares less that are required to be bought...

Should have said that index includes GGP as far as I could ascertain

@TimberTrader

The only index I could find referencing Greatland Resources was the Solactive Global Gold Explorers & Developers Total Return Index, which is actually mentioned in a news article reference (dated 22/12) at the top of the SGDJ page.

It seems to mention a change in the index used by SGDJ, but I found it quite poorly worded and difficult to understand... The references to minimums just seemed plain wrong to me (although not relevant to GGP however).

Yes, my mistake. I can't even find where I got my figure from, even though I was looking at it minutes ago...

Just seen 14,097,548.

Apologies for the misquote. Thanks for correction

In GDXJ for next 6 months I guess as reviews are every 6 months, but rebalances are quarterly...

@Jamesp21

Thanks for confirming that it was in the review announcement. :0)

Good news, although deletion wouldn't have been that bad as I believe less than 2m shares in GDXJ anyway...??

@Matml74

Can you confirm that is from the review announcement?

I was wondering if we no longer met the eligibility criteria for GDXJ...

Strictly speaking they have to sell, but I believe behind the scenes it's usually done out of hours to minimise price impact and is bought by GDX.

@Jamesp21 Thanks. If we have been removed from GDXJ that will not happen until the implementation date on the 20th. Are the figures you quoted from the review announcement, or from looking at the current fund components?

Hi. Could someone with access to the review announcement please check if we've been deleted from GDXJ? And if so what the share holding was. Thanks.

MVIS® Global Junior Gold Miners Index | MVGDXJ

"Come on SD. Drop the Telfer MRE on ASX open Monday. Let’s get this moving north again."

Wait until after GDX rebalance please! ;0)

Wait until after GDX rebalance please! ;0)

@IvRoche. Yes. About 22.7m shares at current price of AUD11.54

Personally I hope any MRE news drops after the ETF buying is done...

1. ETF demand fixed by index weight

2. More shares to buy to reach weight = more buying pressure (if shares rise this reduces)

3. News after buying will maximise its impact

ETF value as at 12 Mar = US$31.54B

So 0.58% of that needs to be invested into GGP shares and held within the fund.

The weighting is the percentage of the total value of the ETF that needs to be invested in GGP. The weightings were calculated by comparing the values (market caps) of the various companies now in the fund (just announced) using the figures recorded at the end of the last trading day in February for the primary index for that share (ASX figures for GGP).