Member Info for Impecunious2

I remember Paul Johnson (who bought GGP at the bottom in 2015 or 2016) saying that "the remedy for low prices is low prices." But the problem is, how low?

Hi, Floater @ 12.25.

That's the way I understood Xavido's post, and I'm surprised that anyone would wish to object to it.

It's a good interview. He sounds cheerful and competent, and is certainly more impressive than some other AIM CEO's that I've listened to. Like WelshFalcon, I wish that he had said something about the non-Paterson assets, particularly Ernest Giles and Firetower (given the interest of Newmont in the first, and Unity Mining in the second, in the recent past).

Hi, DGR.

Para 2 of your post at 9.21 made me laugh a lot. It sounds as if the interview with Shaun Day is "adult viewing only," not suitable for children. I've not seen it myself, but perhaps it's more exciting than I anticipated.

POG looking slightly happier at $1842, compared to last Thursday, when it was below $1800.

Hi, Djf.

You should have left the first sentence unchanged. It's very funny. "I have to say I don’t agree with anyone on this board."

Hi, Hydro.

Thanks for correcting me on this. I used the info I had access to, and would have used the Bloomberg info, if I'd known about it. As you know I'm a long-term holder, and all in favour of institutional buying.

Hi, Tom (ttb@14.52)

I agree with this. On institutions buying, they're still very much a minority interest. MorningStar says ETF's hold 8.69%, and asset managers hold 8.5%, making 17.2% in all. I'm all in favour of them increasing their share up to 50% or more, because they're much more rational than some of these emotional types that we see wandering around the AIM billboards.

This is something of a joke at my own expense, as I'm an emotional type, too.

Hi, Fenix.

A joint venture on Ernest Giles would be good news. It may happen one day; but not this week, I think.

Hi, Cage

100% of zero is zero. But I'm sure you know more about mining than I do.

Hi, Sliotar.

I agree that the falling price of gold since 6th January is certainly one reason for the decline in our share price.

Hi, Greb.

Probably Monday. It takes two to make a good interview; and I assume the interviewer will be Donald Leggatt. He's a cheerful soul, and knows enough about mining and company finance to ask the right questions.

I hope he manages to pronounce "Gervaise" and "Havieron" correctly. They definitely fall into the category of keywords, if one thinks about it.

Hi, TMT.

Welcome back. I assume Redirons is referring to dividends (rather than capital gain).

Hi, Speedy.

Thanks for the reply. One day the oil will run out, too.

Hi, Speedy @17.04.

Every mining company schedules an end of life date for its producing mine, or mines; and for that reason is always conducting exploration (or acquisition) to maintain or increase reserves. A glance at any of the company reports will confirm this.

Hi, Jules.

There's no way of telling, because it all depends on the decisions of our CEO, the decisions of other CEO's (about joint ventures, takeover, etc), the skill of our geologists, the geology of the rocks, the price of gold and copper, a bull market or a bear market, etc. As Sartre and others have pointed out, the future is unknowable; but some events are more likely than others. And the further ahead one looks, the more difficult it is to estimate the probability of x, y or z.

For what it's worth, my guess is that Shaun Day will want to stay long enough to take us on to the main market, and that in three years' time, GGP will be paying a dividend and in the FTSE 250.

Hi, Adz.

Try not to do it again. The time to sell is after a large rise, not after a large fall. Best wishes.

Hi, Adrian.

"Follow the directors" is the first rule of investing. They know their company better than anyone else, and usually have a good sense of financial markets generally. I well remember the CEO of British Land selling out at the top in 2007; and more recently, the CEO of Hochschild selling a large amount at £2 last February, shortly before the price fell to 93p. And then we have Gervaise, putting in £55k at 2.8p in March. So anyone who followed his example yesterday has done the right thing.

Hi, Sandgrounded.

My own view on intra-day movements is that the best time to sell is late morning (11am to 12 noon), and the best time to buy is late afternoon (yesterday afternoon being an exception, of course).