RE: Ggp share on the rise26 Sep 2020 06:04
Morning all, Apologies that I have been busy the last couple of days, I'm back now.
A disappointing finish to the week, you can blame me.
Let's have a look at how my predictions made on Wednesday at 7.03 am went. If you click on the 'reply' box you will see it at the bottom of the trail.
1. World Gold Price, I predicted $18.50 and it ended the week at $18.6125 so that was fairly close, well 0.6% out.
2. Greatland Gold share price. Closed at 20 pence. A bit of a shareholder rout since Wednesday, but buys and sells pretty evenly matched, but some of the trades marked buys are sells and vice versa.
Trades 2,653
Vol. Sold 18,148,155
Sold Value £4m
Vol. Bought 21,998,299
Bought Value £4m
So the closing GGP price was below my expectations.
I suspect that the Directors of PRIM may already have sold some or all of the GGP holding, so this may now be Academic.
3. The PRIM share price. Well, it looks like the market is sitting on its hands until there is a bit more certainty.
As a result, my end of week prediction fell a bit short, well short, in fact.
AS we all know, the current Board has proposed to appoint Rupert, Matt and Hedley as Directors.
THEY HAVE NOT BEEN APPOINTED YET. NOMAD IS DOING DUE DILIGENCE ON THEM, AS REQUIRED.
So we are nearly there, but not quite on the appointment of new Directors.
This is what I said on Wednesday morning;-
3. The PRIM share price. Prim has a small MCap, and the SP moves easily in change in supply and demand, as the MMs don't seem to carry a lot of stock, which makes the SP more volatile. There is also uncertainty as to whether the company still holds the GGP shares, and the current Board has sold part of the holding, which would pay their salaries for the next year and have left the rest to run. I suspect that they will have sold more by now, hopefully at the peak, locking in gains as cash.
In the interim, the existing Board can reinvest any realised funds wherever they like.
If they do reinvest any GGP profits, it will be very interesting to follow the money trail.
I think that a certain Bookkeeper will be over this like a rash. I certainly hope so!
Was my estimate an abysmal failure - hard to say, but there have been so few trades in the last couple of days, here are ALL of them
25-Sep-20 13:48:50 3.70 29,999 Sell* 3.70 4.00 1,110 O
25-Sep-20 10:56:44 3.735 25,026 Sell* 3.70 4.00 934.72 O
25-Sep-20 09:33:12 3.735 50,000 Sell* 3.70 4.00 1,868 O
25-Sep-20 08:02:40 3.94 75,555 Buy* 3.70 4.00 2,977 O
25-Sep-20 08:00:05 3.735 15,000 Sell* 3.70 4.00 560.25 O
24-Sep-20 14:44:43 3.945 6,337 Buy* 3.70 4.00 249.99 O
24-Sep-20 11:00:31 3.735 10,568 Sell* 3.70 4.00 394.71 O
24-Sep-20 09:35:26 3.733 100,000 Sell* 3.70 4.00 3,733 O
24-Sep-20 08:40:28 3.985 63,000 Buy* 3.70 4.00 2,511 O
24-Sep-20 08:40:13 3.825 100,000 Sell* 3.70 4.20 3,825 O
Yes, a TOTAL value of £18,164 worth of trades in TWO DAYS!
Well that makes us look a little bit illiquid to me, and the SP cou