Member Info for Impecunious2

Hi, Copperman @12.50

I'm with you on this. GGP still makes up half my portfolio; but its glory days are over.

Best wishes

Hi, Gareth @13.29

Thanks for this; I see that the EUA board has 408 posts so far today. GGP (in its prime) had over a thousand posts a day; but now the share price is stagnating, no-one bothers. It's almost as bad as OMI.

As for toxicity, if one has a small number of posters, dialogue can be kept fairly civilised; but once one has a multitude, inevitably some of them will be ignorant, angry, malicious or downright deranged. But let us look on the bright side, it's a paradise for psychologists.

Best wishes.

Hi, Jonno @15.19

I'm bullish on gold; what bothers me, is that the rising POG has not helped GGP. I had assumed that the fall in POG, from January to March, was one reason for the fall in GGP. But it now seems that I was wrong about this (unless we are to say that GGP tracks the gold price downwards, but not upwards, which would be most unfortunate).

Hi, Grenade @13.00

Thanks for this. At first, I was worried that "pegging" might be some private activity, which she performed in her leisure hours; but now I understand it's altogether reputable, and part of the exploration process.

Joking apart, I'm pleased we have a female CEO. It certainly separates us from our competitors. And I'm optimistic about Thor.

Hi, Mapp @09.04

I'm not sure I share your definition of "on the way up;" but I appreciate the sentiment, anyhow.

Hi, Lucky @11.19

Very good. One of the things I've learned from these billboards is that many people have an excellent sense of humour; which compensates for the anger and malice, which one also finds in abundance (though not usually from the same people).

Hi, Lucky

Thanks for posting the link. Is it a swan on the bench, or something else?

Good to see the experts (Bamps, Sw, and Zoros) battling it out. Place two or three experts in the same room, and they will always disagree (for the reputation of each depends upon having a different standpoint from the others). Anyone who has attended a graduate seminar has seen it all before.

Hi, Herne

I very much hope this is not true; for if it is, I shall be cursing myself for not having put more in.

Best wishes.

Hi, Baby @14.51.

You raise a very interesting point, which is the relationship between money and happiness. I've written about this before, and don't want to bore everyone with my thoughts again. But some academic research showed that there is a direct correlation up to an income of £20,000 a year, but that beyond that the relationship breaks down. This seems very likely to me; there are plenty of rich people, who are utterly miserable. And others (such as myself) who live cheerfully on £12,000 a year.

Hi, CJ

Yes, I am aware of this. I didn't mention it, because I thought it wasn't relevant to Ponie's point (though perhaps it is).

Hi, Ponie @12.58

As it happens, I hold my GGP shares through Equiniti. How do you know that this 16.5 million shareholding is not made up of private investors, using a nominee account? In which case, Siris won't be acquiring any shares in GGP (though perhaps they should).

Best wishes.

Hi, Paul

Yes, this is the risk one takes. I bought GGP at 3p in January 2011, and watched it fall to below 0.1p in 2015 (dilution, falling gold price, two failed joint ventures etc). All part of the rough and tumble of daily life. It has, of course, since recovered.

Hi, Bsg

It's nice to have a little cynicism, to counter Mr Positive (who was promoting OMI in the autumn; quite rightly, as it rose 100% soon afterwards, before falling back to its present level).

The problem, as you say, with all these exploration companies, is that they have to dilute, in order to drill. The only way out of this is to team up with a larger company, which pays for the drilling; as GGP has done with Newcrest. Maybe one day, Thor will do this. Who knows?

Hi, Paul

"Drilling results" is the normal answer for any exploration company. I have no reason to believe that Thor is different from the others, in this respect.

Hi, Sling.

That's interesting. It's something I had thought of, too.

Best wishes.

Hi, Dryland.

I think this is the bottom, unless the next drilling results are bad. Then, there could be a drop down to the next support level, which is 7p. Ultimately one has to trust in the CEO (which I do), in the past results (where the grades have been excellent), and in the financial commitment of Newmont and Agnico.

On the matter of taking losses, this is a very difficult question. I bought a million GGP at 3p in January 2011; and by 2015, the price was below 0.1p. I had to sell to cover my living costs on the way down, and at the low point my capital was reduced to £300 (not £300k, but £300); but I held, and I'm glad I did. "Stubborn as a mule," as my late father used to say (with a mixture of despair and affection).

Best wishes.

Hi, Hoopy.

Looking at the chart, 0.75 looks an attractive price. I'll be there.

Hi, Wayne

If it's any comfort to you, I was one of those who failed to sell GGP at 34p, and have therefore since been reduced to selling some at 20 pence, to buy OMI and MTR. I fear my username is very well-deserved.

Hi, Wayne @15.57

I'm with you on this, one lesson of GGP is that predators should move early. I can remember when the company was valued at the same as my mother's house, which was £450k. I suggested to her that she should sell the house and buy GGP; but she didn't seem too keen on the idea, possibly because she didn't fancy living in a cardboard box, aged eighty-five. This lack of derring-do among the old is truly lamentable.