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It was an interesting week for us last week.
Our S P seems to have a clear correlation with that of GGP, as it is a big chunk of our NAV.
Look at the one month SP movements
https://www.lse.co.uk/ShareChart.asp?sharechart=GGP&share=Greatland-Gold
https://www.lse.co.uk/ShareChart.asp?sharechart=PRIM&share=Primorus-Inv
As you will see, in the last few days we headed South instead of North. Perhaps there was a bit of uncertainty last week, but I can confirm that any doubts that people may have had about the EGM new Board have now been resolved to their satisfaction, and I hope that other shareholders will join me/us in that belief.
Let's get back to where our share price should be.
Last week's movements.
https://www.lse.co.uk/ShareChart.asp?sharechart=GGP&share=Greatland-Gold
https://www.lse.co.uk/ShareChart.asp?sharechart=PRIM&share=Primorus-Inv
I think that we will see substantial buying activity, and ludicrous though it may seem, I think that GGP will continue its rocket-like trajectory, perhaps it will move plus 20% now that the Institutions are clearly getting on the Party Bus.
They have to, for their Tracker Funds, as GGP is likely to go Main Market pretty soon, I believe, and will get into one of the tracked indices in the foreseeable future.
So here's hoping that normal service will be resumed.
As soon as possible.
We should open up 'a bit' at say 4.1 pence, but i think that as there is such a huge disconnect between the share price and Net Asset Value, we should spend the week catching up with GGP.
All imho, but there is no logical reason for people to be selling at these price levels, unless you know of a share that will out-perform GGP, and us, by correlation, inference and implication.
If you do, please PM me!
Here's to a fabulous week.
Dana
A bit of culture for you to start the week.
Imho, one of the best operas ever written is Orfeo ed Euridice by Gluck, you may have heard this tune.
https://www.opera-arias.com/gluck/orfeo-ed-euridice/che-faro-senza-euridice/
Here is the link to what it's all about. https://www.opera-arias.com/gluck/orfeo-ed-euridice/synopsis/
Not to be confused with Orpheus in the Underworld, famous for the can-can. https://www.youtube.com/watch?v=grtFa34EdgI
So what is my point about all this? What has it got to do with Touchstone?
The words of the song are Que faro sensa Euridice, dove andro ... which translates as What will I do without Euridice, where will you go Euridice..? One of the poorer translations is https://www.youtube.com/watch?v=qQuahSdTvU4
Okay then here's the answer, in a very circuitous way, I was asking 'Whither goest thou Touchstone, or Where are you going?
I hope that you enjoyed the cultural diversion, if you ever get the chance to see the opera on stage (preferably at Covent Garden) grab it, you will remember it for the rest of your life.
The same with Touchstone, you will remember this share for the rest of your life too, the same as I do with Dana Petroleum.
This week we will open strongly.
Last Friday's closing price was 75 pence as an uncrossing trade, whereas the bid/offer spread was 76p to 78p which means that the closing price should have been 77 pence, so that's our base level. The reason that it was 75 pence is that there must be a large limit buy order at or below 75 pence.
Add into the mix the fact that we closed in Canada at CAD$ 1.38 which is 81 pence, and we are looking very strong indeed
https://uk.tradingview.com/symbols/TSX-TXP/technicals/
The London open later on this morning should be in the plus 5% to 7% range. Not at the top of the Risers' board, but possibly in the top twenty. Paul has told us that there will be no news until the end of September, so my guess is that it won't be before next week, unless, of course, there is a massive flarestack showing after the drill has been completed.
My Trinny friend will keep us informed.
Week SP open - 78 pence. Prediction.
Week SP close - 83 to 85 pence. Range estimate.
AIMHO and DYOR
Let's hope that the market will do as it's told
Enjoy the ride
Dana
I was speaking to my Trinny chap yesterday.
Nothing t report as yet, but I understand that if we did have a flare now, it would be a sign of a 'kick', so no news is good news.
Patience...........
When I start digging I find it hard to stop.
This Report by PWC illustrates just how shocking the current Board costs are.
https://www.pwc.co.uk/human-resource-services/assets/EMRS/executive-management-ftse-250-and-smc-non-executive-director-fee-review.pdf
Once I get my teeth into something, it's very hard to let go of it.
Here's another one.
https://infokf.kornferry.com/rs/494-VUC-482/images/181113-KF_-_FTSE_Directors_Pay_Guide_-_mail_spread%5B1%5D.pdf
Discuss.
A you may see, my surname is offensive to many and has been censored. LSE have given me a Penectomy, without medical advice.
The four letters that are asterisked out are the male equivalent of a hen.
Or take a clock and take the L out of it.
Willis Towers Watson has produced a report of FTSE Directors' salaries.
https://www.willistowerswatson.com/en-GB/Insights/2019/12/Executive-remuneration-in-FTSE-250-companies-2019-report
There is a download PDF button.
As you will see, our esteemed BoD (for the time being) are not shy in their pay demands, but there again they approve each others' salaries so nobody can stop them.
Apart from the shareholders of course.
I am very pleased to have been at the forefront of these shareholders' rebellions, this is my third, and I can see that there will be any many more.
If anyone would like me to look at other companies, please pm me on here or look at my twitter account.
https://twitter.com/adrian_po**** https://www.linkedin.com/in/adrian-po****-1a047423/
I am sure you will find a way to connect.
Dana
Yes, it looks like the price is being held in a very narrow channel, it has been for weeks, as previously observed by many.
The last time that I saw this was in the Rockrose share price, for weeks before there was a 'surprise' takeover/MBO.
I would be disappointed if this happens, it is legalised theft imho, but stock market and Company Law rules permit it to happen.
Funnily enough the first time I saw this was the KNOC takeover of Dana Petroleum, where it was bought for twice the annual income. My then hero Tom Cross, was indeed extremely.
Cross.
See what I did there?
Dana
Evening All,
I have been very busy this week with a mixture of personal and other work matters, so have not had the time to get onto the BBs.
In the light of the recent jump in the GGP share price, I think that we will resume our upward trajectory, and there is no reason that we shouldn't hit my price target of 5.5 to 6 pence by the end of the month.
Anyway, it gave some a fabulous opportunity to get in at a significant discount, so good luck to those that managed to.
Should be a good week ahead, now that GGP is back on its upwards trajectory.
Have a good weekend all.
Hi Guys,
Apologies that I have been busy on other matters recently.
I am still looking forward to a huge re-rate here once we get the news on Chinook.
Obviously I hope that it will be in the upwards direction, but although the value of Cascadura exceeds the MCap of TXP, if it's a duster, the market would be unkind to us in the short term.
That could be counterbalanced by good news on the NGC agreement, so perhaps Paul is keeping that in his back pocket?
I am sure that the TXP team know the result by now, so let's look out for Paul wandering around with a huge grin.
Is anyone about in Calgary, or is he in sunny Trinidad?
Looks to me like we are mirroring the GGP share price almost perfectly.
This is slightly ludicrous, because we have lots of other shareholdings that have huge potential.
The market seems to be taking a very short-term view, but then again, it always has.
GLA
It appears to me that yesterday reflected the movement of GGP.
Other shares such as Starvest SVE that have a strong link with GGP did the same.
GGP has had a strong open today with buys outnumbering sells by three to one.
Look at the technicals for GGP
https://uk.tradingview.com/symbols/LSE-GGP/technicals/
As for owning a Skoda, no shame there, it is a brilliant car, and ideal for collecting things, such as a fabulous set of wheels for one of my other cars. Which car should I have used? I won't post the list but it is all about fitness for purpose. The Skoda is very green and cheap to run, no tax, and can genuinely do over 80 to the gallon in eco mode, and you drive it like you have the last tank of fuel left in the world. Good practice for my Guinness World Record attempt to beat the record for the best fuel economy record for Land's End to John O'Groats in one of my Audi A2 3Ls.
https://www.youtube.com/watch?v=BTPnQneEtVs
I have a spare one that I may be selling soon.
The momentum is actually accelerating now.
Look at the technicals on Trading View.
https://uk.tradingview.com/symbols/LSE-GGP/technicals/
Hi Guys,
I've been away for a couple of days and left you all in charge!
Today I decided to go for an 'economy drive' up to Newcastle in my very dull but sensible Skoda Superb Greenline and managed to get 89.1 mpg on a 385 mile trip, which is so amazing I took videos of the trip computer to prove it.
Anyway, I just got back and am a bit surprised to see that the SP has actually dropped a bit, but I am sure that we will make up lost ground tomorrow, now I'm back.
Not sure what to make of today's trading.
The same thing has happened over on Starvest, which is madness when you look at their holdings.
Perhaps there is a feeling that the GGP Bull run is losing momentum, who knows?
As always, time will tell.... let's hope that we head back towards 5 pence.
Disappointed.
Dear Taz,
Our reward will be that our shares go up in value.
That makes us what's known in the business as co-aligned with shareholders.
We have every interest in the SP going up, without dilution, as that's how we all make money.
I hope that explains it for you.
Danax
Speculator1 I think that we now have the opportunity to achieve truly great things.
Matt Bearmore and I have been fellow investor pals since we were both Directors of Infrastrata and Matt assisted in ousting the old BoD.
Matt is brilliant at spotting and analysing opportunities and we tend to invest in the same shares.
It happened to be me that spotted Primorus as an opportunity on the first of September, and things have moved on a bit since then, after I introduced a large shareholder to the takeover team.
Things appear to have moved in the right direction a bit since then.
My SIPP is up over 500% since March this year, so I am probably as good as many fund managers in an amateurish sort of way in a bad market, but it also about timing as much as anything and I don't always get that perfect. I sold ACP BZT and REDX too early but you can't get it right all the time, and the cash went into some fairly profitable positions such as PRIM, and I believe that we have a very long way to go here.
Slashing the Board costs and getting people to work very hard for their cash is a good start.
Even though I am not planning on being on the Board, I have driven over 2,000 miles to meet people and to do things like examining the Directors' contracts etc.
My longest day so far for you is leaving home at 4 am and getting home at 9 pm on a visit to London last Friday, a day that you should never visit.
It has been great meeting Raymond and a number of others, and together we will achieve great things.
Share price seems to have moved a bit since the first of September. It's a team effort.
Raymond, I agree with you fully, now that I am in possession of all the facts.
Together, we are now unbeatable, I am convinced.
Happy to help in the background.
Turnashilling. Au contraire, which means 'the opposite' , for your edification.
If you understand how markets work, if people want to buy, and people won't sell, the share price goes up, it's a very simple economic precept.
The prospective BoD wants to slash costs which increases the value to shareholders and puts the SP up.
People that want to take over companies like to see a low SP so that it is cheaper to buy the company. Such a party would be saying negative things in the hope of driving the price down, and encouraging people to sell.
Every day's a school day eh?
I hope that helps.
Danax
The GGP share price rally is inexorable imvho.
The amount of cash that is surging in is unstoppable.
Once we get to a £1 billion company, the Funds will all have to invest.
Linked companies such as PRIM and SVE will romp up too.
Mark my words.
GLA
Danax
I appreciate that it takes time for an under-rated share price to find its proper level.
Fear of buying at too high a price is very understandable, the corollary being that fear of missing out is also a big motivator, well for me at any rate.
If you look at the fundamentals of Prim, some of the investments have real potential, as has been demonstrated by GGP.
In reality, there is nothing like a bit of Golf Fever to get people out of bed in the morning, see what I did there? and a bit of Gold Fever helps as well.
Back to the old adage of 'Cut your losses, and let your profits run' has never been truer than for here and we are about to have the costs cut massively, with some better management, come what may.
Some of you will have been in Rockrose, where the takeover bid price looked okay but not great at the time of offer, and by the time it went through was way less than the cash in the bank, with 22,500 bopd coming in, and the oil price had gone up 50% from memory.
I am not suggesting that there will be a takeover bid, and it won't be coming from me, but we are sufficiently small that a wealthy investor that wanted a decent chunk of GGP with a whole load of stuff thrown in for nothing, then PRIM would be a good purchase.
If a bid came in now, and GGP kept romping up, by the time the deal goes through it would be a steal.
Who knows the future, I certainly don't, but I do know that there is no logical reason for our share price to be anything less than sixpence.
Make your own analysis and decisions, but Warren says 'The stock market is a device for transferring money from the impatient to the patient' . This adage seems to have served him fairly well, but you may have a better strategy than him, of course, for which I respect your judgement.
Obviously, in the Covid-ridden times, none of wants to be a patient, but I believe that patience will pay dividends.
So, for you out there that have your limit sell orders in place for tomorrow, you may like to reconsider your positions before the 8 am bell.
I can see us doing 5 to 10% today.
Open at 4.7 pence, close at 4.95 to 5.2 pence.
Any close North of 5 pence would be a very strong message to the market indeed.
Let's compare notes at 4.31 pm, although it does depend largely on GGP remaining firm, of course. We all know that already.
GLA .
Dana
Have a great day one and all.