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Well done PM. next step - multi millionaire! You must hold a lot of shares.

Quite a grumpy bunch on here this morning.

Numbers do add up:

230,000 @ 4.4p = £10,120

230,000 @ £4.93 = £11,399

Profit = £1279 + I still hold 20,000 of the shares.

On Friday just before the close I bought 250,000 shares when they dipped to 4.4p. The money I used was the float from my settlement account (I.e not my money). On Saturday I bought an electric bike for £1000. This morning I sold 230,000 of the shares at 4.93p, giving me a quick profit of £1000. This has paid for the bike!

Sterol - indeed!

TomE - no change of heart from me. I am very heavily and happily committed to GGP. I am very excited about the long term potential gains. More excited than I have been in many years.

However it worries me that many posters are expecting too much too soon. The price will get to multiples of the current level, but it may take quite a long time.

Most of use are surprised how little the sp has gone up in comparison with the finds/potential finds. I think this is due to the precious metals sector remaining out of favour for the majority of investors. The sector will come into favour once the gold price (in $US) breaks out and holds much higher levels (c$1900+)

I am happy to be patient and if the price moves up consistently I will probably buy even more shares on the way up.

Every share has some downside risk.

There is one major downside which should be borne in mind. If (When ?) we have a major stock market crash all shares will go down and so will the price of gold. Once the bottom is in, the gold price may recover strongly and with it the gold sector shares, but in the short term many GGP holders could be sitting on large paper losses.

On many many metrics the US stock market is massively overvalued. The Corona virus may be the black swan that triggers the stock market crash. Take a look at the 80% drop in the Baltic Dr Index over the last year.

Schlemiel - it is not just the explorers who are undervalued it is the entire precious metals sector, including the miners.

The amount that Newcrest could offer for GGP is constrained by this long standing undervaluation across the sector. The Telfer/Havieron situation is very valuable to Newcrest but until the gold price breaks out to new all time $US highs we will not see GGP reaching fair value relative to drilling results.

Further outstanding drill results will drive the GGP price up, but the gold price will determine the scale and pace of the increase. The financial markets are still not convinced that gold is heading substantially higher in the near future.

Most of us here agree that based on the drill results to date GHP is significantly undervalued.

I think this situation is likely to continue as the entire precious metals sector has been out of favour for many years. The last boom in the sector came when the price of gold hit the all time peak of $1900 per ounce.

If you are looking for a sudden surge in the GGP price I think you may be disappointed. I think we will have to be patient until the gold price breaks out towards $1900+.

Even if further exciting drill results come in, the GGP price will probably not move up towards fair value because of this long standing bias against the previous metals sector.

As and when the gold price breaks out then we may see a huge revaluation of all precious metal stocks, including GGP.

I am very excited about the potential gains from holding GGP, but I think it is good to have realistic expectations about when fair value will be reached.

But I am extending the hours of gold share watching!
Once London closes I can watch McEwan Mining on the NYSE, and then in the morning I can see how Artemis got on overnight, before waiting for GGP to open again!

GGP drill results are very good.

But how about a 53 g/t over 6.7m hit from McEwen Mining!

I have diversified a small chunk of my GGP gains into a few other gold stocks of which McEwen Mining is one. Always good to have some other plays on the go for when GGP hits maximum value.

Good summary. Need to add the Drilling results from Tasmania as well.

The photo from the presentation shows Gervais talking through a slide with the heading ‘Underexplored with Huge Potential” and a map of the wider Havieron area. Unfortunately when I zoom in on the slide the text is indistinct. The institutional investors appear to be very absorbed in what Gervais is telling them.

Rather than spend the whole day agonising over minute to minute price movements I am chilling out and daydreaming about how I am going to spend all the money coming my way. When (not if) the sp gets to double figures I am going to be a very happy chap!

I have invested in Artemis through Interactive Investor. You can invest fairly small amounts.

I have 11 shares in my portfolio. Unusually all of them are up today - except GGP!

Nice bounce in the sp today after the news of the successful trial using the small solid state battery to monitor the condition of wind turbine blades.

Paddy - if you look at some of the recent Artemis announcements such as theIr January 31st2020 quarterly activity report they include maps which clearly show their tenement surrounding Havieron on 3 sides.

Artemis Resources’ Paterson Central tenement E45/5276 (formerly called Armada) . I think Rio are the neighbours to the south west of Havieron. Perhaps Rio might bid for the Artemis tenement?

I agree - Scallywag has to be the number one priority for GGP. Looking at the geology and the old drilling results I think there could be another outstanding find in that western area.

If the Newcrest Havieron drilling finds that the mineralisation runs close to the Artemis border then this would be a very attractive low cost opportunity. Artemis are not well financed so they could struggle to drill all the deep potential targets they have lidentified.

As we have all been speculating about possible future scenarios, I thought I might as well add another one for consideration.

Artemis Resources are a tiny company (less than 1/10th ogf GGP’s market cap. They hold the land adjacent to GGP’s Havieron area, to the south, north and east. They have identified a number of drill targets from aerial surveys and will start deep drilling soon, once they have the necessary permits.

Given the outstanding results from GGP/Newcrest drilling and the close proximity of the Artemis targets to the Havieron mineralisation there is a good possibility of further significant finds by Artemis It would be relatively inexpensive for either GGP or Newcrest to acquire the rights to the Artemis area (600 square km). The price would obviously be much higher if and when any fsignificant finds are made.

I am very heavily invested in GGP, but I also have made a couple of investments in Artemis as I think there is a good risk: reward ratio here.

What do you think chaps?

Artemis have an ore processing plant in West Pilbara so if they do discover something major from their current drilling efforts near Havieron they are well placed to exploit it. Compared to my GGP investment my allocation to Artemis is tiny but still very worthwhile.