Worth less than its debts? So what? Meaningless if you ignore its assets. Not sure if these figures are correct (I'm sure they're not) but, just to make the point... Debt: £22B Assets: £44B Net asset value = 44-22 = +£22B (which admittedly sounds too high but not incentivised enough to dig out proper numbers). I hope you get my point.
Why compare debt to market cap? Makes zero sense. By all means compare asset vale to debt or even asset value minus debt to market cap. Tesco asset value is somewhere around £44billion I believe which makes your numbers look a lot less scary and no magic needed. (I don't hold Tesco...just don't like seeing this kind of ill-informed nonsense)
Regardless of the wisdom or otherwise of having invested in GDP, I take some comfort in the fact that I seem to be in good company here. There may not be a huge volume of traffic on this board but the quality level is high (I mean the maturity and the humour ... not the ability to share pick :) )
I've come this far. £43,000 down but feeling perversely optimistic. May as well hold on for a bumpy ride to eventual success!
Yep. Back down at its all-time low. Mcap now significantly below the company's stated NAV so there can't be much further to fall ... surely? But assets are only valuable if you can either expoit them or sell them and GDP haven't shown any ability to do either. What next? Cash call/placement?
If November figures are bad then I think it will be time to cut my losses whatever the price is by then and stop suffering this death by 1000 cuts.
Looks like the market doesn't know what to make of it...or more likely doesn't care enough. I don't think the bid has shifted at all from 3.75 through this. It's a sad reflection that I'm just feeling thankful it wasn't taken as a reason for a new step change downward.
This company is simply off the radar until something more significant happens such a a demonstrable sustained return to profitability and/or farm out/sale of Kili. But both of these things are actually quite likely and I can see us ticking up after the November results and hopefully stronger through 2015. But that's what I thought about 2014 :(
Wow GDP showing blue! Then I realised the offer had just gone back to its usual parking spot. I find myself wishing this share would just *do* something ... then again, history shows that when it does it usually just goes down some more. Short of an unexpected announcement re Kilimapesa, it's hard to see any catalyst for action before the preliminary results in November. I may have died of boredom by then.
[I tried asking this question in the premium general chat forum but it seems dead in there so will try here. It seems maybe L2 console is not quite as useful as I thought it would be ...]
Brand new to L2 console and struggling to understand the pricings. For example, I look at GDP and bid/offer is always in multiples of 0.25p. Best bid is 3.75p at time of writing. But when I do a test trade with my online broker I am offered 3.81p to sell. So where is the 3.81p coming from exactly and why is it not visible on L2 console?
OK maybe being a bit harsh on myself. Clearly I don't know much about gold recovery in Africa (like most on here I expect) but I did apply what I considered to be due diligence. Read up what I could about the company and noted its respectable (if somewhat up-down) performance in the previous years. Everything was positive and it looked like it was due a leg up. So, yes, I over-enthuiastically over-committed initally and subsequently made the rookie mistake of averaging down each time there was a new 'mad bottom'. Greedy if you will. Lessons learned.
But hey, this might yet come good and my average (7.8p) is a hell of a lot lower than it used to be (~12p) so, fingers crossed, only an (achievable) 108% rise needed and I'm in the black.
In any case ... first world problem... it'll hurt but I won't go hungry if this goes to zero.
Seconded. While at this moment I wish I'd got out when my loss was more managable (or never heard of the company) I now feel trapped for the long haul and somewhat out of my depth with over 1M shares in something I really don't know enough about.
If Nick can help pull this around then I'll be nominating him for a CBE... hell, a knighthood.