Member Info for JONNO100

Paddy
Thank you so much for all your selfless work.I hope you and your family have a happy and peaceful Christmas.
I do hope you are able to see your father soon.I am sure it will mean so much to both of youThis year has been so difficult for so many.I genuinely pray that next year will be much easier for all.Take care.ATB Jonno

A Merry Christmas and Happy New Year to you all.Take great care of those that are close to you and stay safeJonno

iPad
If you include the debt of individuals ,companies and governments then who it is legion

Speedy,GGP is a very sound company in a great Jurisdiction politically and environmentally.WA isworking normally(I know it’s Christmas).The fundamentals seem sound.Agreed world debt is an awful 1-1.8 quadrillion .A lot of this not self funding debt ie borrow to invest ,make product,sell same and pay back debt from profit on product,it is now borrow for holidays,clothes,food etc
Market uncertainty helps gold,inflation helps gold .,deflation may help gold because of the preceding uncertainty that caused the deflation.QE and gold up but QE v small compared to global debt so minimal effect.
I wonder if it will all be down to psychology of the masses -do we spend any money we have or with tightening supply chains-stuck shipping containers,closed European borders,fear about future and jobs,unemployment risingdo we keep any money we have in which case deflation
I work in the NHS and we have yet to fully appreciate the acute and chronic effect of the unfolding situation on health.I think right now GGP should do well but who really knows what the future holds These recent events may force a lot of people who are really struggling to be more cautious.Most on this BB are reasonably well off and are fortunate to be able to even consider investing.,and understandably their terms of reference at times,don’t consider a lot of far less fortunate folk

Beavers could do the shoring up but might have to be based at Lake Havieron

SIR Dodge
I always wondered who Mac Davis was thinking about when he wrote the song that Willie Nelson sang "Hard to be Humble
ATB Jonno

Tig- I agree nobody knows GH's reason for leaving .Afew weeks ago I watched a kitco presentation where someone who was very bullish on gold said although he was bullish he didnt want to be a "Blind Bull"-so would continue to assess and reasses all the facts . There has been a lot of talk what GH will do next -retire,join RIO/Necrest etc - he has said that he isnt a miner - he has been a huge success both professionally and personally with GGP -he has potentially discovered a gold/copper district and maintained a great relationship with the indigenous Martu people ,relationships with indigenous people some companies havent managed here (in Aus) or abroad .He could write a book ( thinking of a title could be fun) ,act as a consultant adviser etc etc .BUT -having discovered this huge potential gold /copper district -would he want to totally walk away(after all what he and CB and GGP have achieved in the time scale is Amazing -furthermore it is rare to have the respect of all people on a bulletin board !!) -he could become more strategic for the area and go into politics at western Australia level or at Canberra level -he would be a great man to have in that role -after all mining is in the blood of so many australians and will be needed to fund a huge part of his country's future .I have a feeling that what ever he decides to do he will be a great success.Just some thoughts

Have Rio appointed their new CEaO yet.Has that left a vacancy elsewhere

TMT
So sorry about your loss.You write so eloquently and movingly.Please take great care of yourself.Your words should make all of us ,once again realise what matters in life Jonno

Question
Would someone be kind enough to explain the process for updating the Maiden Resource Estimate.Is there a mandatory time gap between each subsequent update dependent on weather eg allowing for weather too hot for drilling etc .If it is independently assessed who decides which data is made available to the independent assessor Newcrest or both Newcrest/GGP and if there is a significant fee who pays Thank you

TMT
What a very nice post.and for taking the time(to post it ( no pun intended,) when you have much more important things on your mind.Common humanity is sadlybecoming a rare commodity.Take very good care of yourself.Stay strong and I know you have a lot of support on and from this board JONNO

Kempey
Again kind words .I take no credit for repeating what my son in WA sent me,but thank you Jonno

2) another source of info -https://www.britishhorseracing.com/regulation/ownership/become-a-racehorse-owner/

Morning Guys-agree waiting for a few weeks
Just some comments from down under-1) Do people want to own a horse or just have the fun of seeing something race together You could lease a horse for a yr - can choose racing colours ,sometimes negotiate a share of prize money but wont own the horse - if it becomes asuperstar little financial benefit ,if useless or gets injured no risk -the only costs are running/training costs
2) Jumps v flat - jumps longer career but race less often ,flat horses usually cost more -slightly better prize money (not great compared to rest of world- ) there is scope for massive increase from stud perspective if very good)jumps horses little residual value after finishing their career.
3.need to be REALLY clear this is NOT an investment -going to lose 80p in the pound -statistically UK owners get back about 20% of their investment - there are occasional stories horses costing not a lot (in racing terms ) going on to be superstars but many more of those bought for a million that go on to be worth nothing
4)do you want a UK horse or Aussie horse (GGP operates in AUS) cheaper to buy and train AUS compared to uk,Prize money infinitely better -but as most of us are based in UK wont get to watch it easily.
5) How many to be involved -Partnership everyone is registered as an owner with BHA.(British Horseracing Authority ) or syndicate(where only managers have to be registered as owners and they can manage payment of prize money /financials for the syndicate ).
to be aware of -lots of red tape setting up partnership/syndicate -registration costs,paperwork,authority to act for trainer,registration of colours registration of horses name etc - ( my comment -Hope we could agree on colours and name - if the bulletin board is anything to go by at times -could take sometime )
6) something to consider -how to wind up the partnership/syndicate -people often forget -if horse useless or brilliant some may want their share back -so need to agree how long the partnership/syndicate shouldlast and how to buy other people out
1) Process - agree whomis involved ,and budget - advise funds up front into a shared account ( registered with Wetherby's-British Racing's secretariat -latter offers private banking ) and also need to include first yrs training -to be sensible allow £25-£30K for all costs yr 1 and purchase price -if you use an agent standard fee is 5%.trainer may not charge but would expect to train the horse
2) instruct agent -if you use an agent -and select a trainer
3) go to the sales if youcan - huge buzz bidding for something that valuable at auction -open to anyone to attend ( covid permitting)
4) register ownership ( partnership/syndicate) choose name and colours ,appoint someone to manage funds so that what ever is left at the end of th agreed period is divided up equitably wait for horse to be ready to run and go racing !
just a rough Idea
try http://www.inthepaddock.co.ukindep source of info backed b

Tig/Dillon
I had a chat with my son today ,who I am sure Dillon will know of .He will email me some thoughts . He has just emigrated to Western Aus but has been heavily involved in racing for 15yrs in UK .In principle -flat probably rather than jumps -money goes further with jumps but risk is greater and bigger gaps between races for jumpers .£100,000 spent for a flat horse would probably get you a winner of some race in the future -it depends what you want and what you are trying to achieve in terms of future successes.Yearlings with top breeding can cost millions and no guarantee of success. He suggested looking at Breeze up sales -usually 2 yr olds and you can watch them run over 2 furlongs and get their times for this -whether in covid times you can watch I dont know but you can get videos, this is prior to buying - probably sensible to get a trainer to help with this then h/she feels more involved - -probably looking at £ 25,000 all training /travelling and Jockey fees /yr -I think any winnings Jockey gets about 9% and trainer about the same and stable lad/lasses get something too from the winnings -I think just over 20% winnings go that way .if you have over 12 people then it is a syndicate,if 12 or less then a partnership is possible -would have to decide where (with people all scattered round the country ) you would want the horse geographically to be trained and by whom .
He will let me have more in depth thoughts -dont hold me/ him to the quoted figures but they are a guide-would welcome your thought Dillon > JONNO

Kempey
I will chat to my son in Perth(Aus) tomorrow about what he suggests as well.He was Operations Director for the Champion Series including Champions Day at Ascot for 8 yrs before emigrating a few weeks ago

ChristopheB
A lovely comment .A great awareness of the range of your fellow investors -for whom a little is a lot

TMT
All the very best and take care.Whatever it is may you and yours have the very best of outcomes .As someone else said,it puts everything else into perspective Jonno

POG $1766

Mr Negative
Thank you.It seems gold is a safe haven according to this article whether there is inflation or deflation.,although some experts argue that with inflation the price of gold goes up and with deflation the price goes down.
Part of the reason I mentioned the original article on deflation was to encourage debate and learn from it and people more knowledgable than me.
I agree with the article in that the type of debt has changed (more debt eg cars,boats ,houses etc ie debt that doesn’t self finance short term unlike business borrowing to produce more goods to sell and so paying off debt by way of the reason it was created in the first place.The non self financing debt needs a separate form of income to pay it off.Now if the world psychology changes and people are frightened to spend because they have debt,may not have a job,are worried about the future,and save where they can at every opportunity. ,
,then no amount of QE will get into the economy to make a difference.If on top of this lenders (eg mortgage lenders) feel that people won’t be able to pay what they owe they start tightening credit as we have seen.
I also feel that understandably a lot of people will go back to the survival basics.Food,water,oxygen shelter(warmth/clothes /housing etc) health .They really won’t be able to or want to spend on anything but basics.A lot of businesses will go to the wall that provide luxuries.or what will be perceived as luxuries in the future and with that more jobs in the future
I am not deliberately trying to create a doomsday scenario but I am hearing the fear of this more and more