Member Info for Jerryspaniel

Afternoon, SaS. I suppose I am somewhere between H and I….had the very good fortune to find Ggp just after Had5 when the shares were about 1.5p. After further drill results and alistair Clayton announcing ‘it’s a mine’, I increased my position substantially. I have got to know a few on this board who have added to my knowledge and a few that haven’t! It’s been a great ride, I have learnt masses about mining and had some great chats with some very senior people. So it’s now a hobby and it’s quite likely that I will always be a shareholder. But I have reduced my holding by quite a bit to fund the dreams and paid some mortgages off. Going forward I will probably manage the investment by capping the absolute level of investment (£ms) whilst continuing to trade this fairly aggressively.

GPTT, not sure this answers your question, but for me it’s more than about the quantum. But I realise that I am very very lucky to be able to say that.

A grown up company that wants to announce something should do it through an RNS from the ceo, not all these hints, rumours and ‘interviews’ from all and sundry. Very unprofessional.

Imo, the reason why we were weaker in London today was twofold. Firstly the gold price was lower than it was in Australian time, and secondly at new aths and round numbers you tend to get a lot more PI selling which dominates the AIM register.

So with a bit of luck the next time we approach 800p we may see less selling, as the Aussie instos have taken shares off the European PIs. Patience will be rewarded.

SAS. What’s H? 😉😀

If the keyboard warriors who have irrelevant opinions on politics spent half of the time they waste on this subject on understanding the tungsten market, they might be better served, and wealthier.

5X5, not really. I think it’s possible but not probable. Probably dependent on what Twiggy wants. It’s more an issue of personal factors, some that may resonate with other similarly aged investors! It’s been a great journey, but time to enjoy the fruits of success. Still 1-2 years to go imo.

HG, there are a few things I don’t care for on ggpchat too tbh. Bit too much hero worshipping for my liking. There are only two heroes of Ggp in my book, Shaun and Callum. They are also the only ones who know or have known. The rest is opinion, some based on evidence some not, and worryingly some respected posters start posting outside their area of competence.

Anyhow I think we are on the final lap of this investment journey.

HG, you are so right, but I think I would still prefer now and sifting through rubbish at £6.50 than great analysis at 40p from 5/6 years ago.

Shaun continues to be a great custodian of my money and I am happy to rely on him more than anyone else. If others choose differently then more fool them.

I have my suspicions of management who use LinkedIn and twitter etc to issue ‘teaser reports’ rather than sticking to stock exchange announcements which have a much higher threshold of credibility. There are many dubious characters in mining who are like the former. I just hope that the OMI management don’t slip into the dubious bucket. Imo the jury is out.

Not at all known. But at least Ggp know it’s a tungsten deposit.

Jiffy I guess you really haven’t done much research on our ‘titanium’ deposit have you?

One thing you were right about is the fact it’s an unknown project. Very unknown to you obviously.

TmT, as usual you are spot on with your thinking. Higher prices and bigger deposits can change a CEOs mind in a trice.

Snorkler, it’s a really good point and one that should be discussed in detail, rather than the pointless political discussion that seems to dominate this board recently. Imo those who will attend the next TH should question Shaun thoroughly on his plans for OC. Sadly I don’t think I will be able to make it, so I leave it up to the experienced and knowledgeable on here to learn about why OC can’t be a long term Ggp asset. I would rather have another string to the bow than a dividend, but maybe we can have both?

Not at all Z, the pricing of tungsten is very confusing to me. I welcome a proper critique of the numbers as like you, it seems too good to be true. I see Charles archer is now bigging up tungsten.

The volatility in the metal price seems to make investment in building a new mine somewhat difficult to say the least. Unless of course you can pre sell it to the orange buffoon at today’s prices.

Morning Z. Where did you get the price of $320 per mtu? On the RNS it states $2200.

I am willing to be corrected on this but I calculate the value of the tungsten in the ground at $2500 at around $65bn. If you then add in the cu, zn and pb credits and admittedly before recovery rates, I make the value of the tungsten deposit about the same as the 14.8m ozs of gold at $4500. Now one has a working mine and one has nothing which obviously affects the valuation, but it’s pretty exciting.

Happy to have my calculations scrutinised for mathematical errors.

I wasn’t, and am not, making a comment about various specific Latam mines of which I know little. But I do recall that the Cadia gold mine has in the past had a negative AISC, thanks to a lot of copper. That doesn’t make Cadia more efficient as a mine, though it could be. It just muddies the waters.

I don’t think that AISC is a very good measure of ‘costs’. It is so skewed by by-product credits that you would have to add those back in each time, to get a better view of mining costs.

There is a general misconception about the puts Shaun bought. They were bought some time ago and were out of the money when he bought them. Since then, despite the recent drop, the market has risen. So they are even further otm. If anyone understands about options the delta is relatively low, and so they are giving us what I would call disaster insurance and not really a hedge. You wouldn’t want them to be a hedge as that would imply gold has fallen a lot further.

As the gold price rises Shaun should replace the further otm puts with ones a bit higher up. This will cost a bit of money but easily affordable and maintains protection at more relevant prices.

The danger is that Shaun will be ‘encouraged’ to buy more puts as the price falls, which of course is a bit like a PI selling the dips and buying the rallies.

DrR. Wsbn is what they used to call a dog share, with fleas….maybe they still do.