Member Info for MF11

Well it looks like the clowns at Berenberg have!

https://www.proactiveinvestors.co.uk/companies/news/1066143/greatland-gold-shares-very-well-supported-by-record-breaking-gold-prices-says-broker-1066143.html

"GDXJ?" - NO!

@TimberTrader - It's 195 Million at the moment or approx. $18.4 Million underweight.

@Newtothis123 - "This is not a de-ramp"

Well this is not a criticism.

Straight in the Filter Bin.

Possibly as early as today if VanEck start playing ball and start to purchase their 195 Million share shortfall for the GDXJ.

And if the SP is going to increase by 14% on the 70 odd Million traded today.

Just imagine how much the SP might increase if VanEck were to buy 195 Million shares in order to correct the current shortfall in their holding.

They have certainly not done themselves any favours by not acquiring the shares required to correct their weighting after the recent equity raise/release and the Q4 2024 rebalance.

@JerrySpaniel - Yes to replicate the Market Vector weightings, which they should be to properly comply with the GDXJ rules.

Van Eck are some $14.5 Million or (195 Million shares at last night closing SP) light of the holding they should hold.

@SouthernComfort - and you are exactly the reason why many posters hold their own council or have their own little groups to share their research.

Ready to jump down anybody's throat whilst bringing absolutely nothing to the table.

Many here have known each other for years and built up friendships whilst also being able to think for themselves and make their own decisions.

I guess from your post, that you are not one who has been able to think for yourself or build up such relationships.

@Opportunistic - and you sir is what is known as a complete IDIOT.

Filtered.

@SpadesAspade - Yes that maybe the case.

However, I note that the Total of the MorningStar Top 20 Holdings holdings have increased by 245 Million shares since the start of December.

If you take into account holdings totalling 65 Million for companies dropping out of the top 20. That is an increase of 310 Million in reported Institutional Investor holdings in the past month alone.

Yes, we are in the Pengana manages high-conviction-equities-fund which has returned over 106% over the past 12 months.

I guess they are expecting big things from GGP if their fund is going to keep providing those kind of returns.

Thanks TT.

They are obviously quite keen on Greatland as of today Morningstar shows a holding of 115,175,811.

An increase of a further 90 Million plus shares from your original post on the 28th Dec.

Quite a number of II's added in recent weeks. All quite encouraging.

@starbright - Very interesting post, what's your agenda? You seem extremely keen to play down this shortfall.

Far from being mis-informed, the information provided is from FACT based extracts from both the Market Vector and VanEck websites. Whilst you post assumptions on how you think VanEck act. Bravo!

Could you please inform me with your infinite knowledge and wisdom, as to how VanEck manage to successfully rebalanced the UK portion of the GDXJ Fund with no issues whatsoever, leaving the 2 portions of the same index out of kilter, surely not a desirable position to be in.

Could you also give your guidance as to why every other constituent in the US portion of the index was correctly reweighted during the quarterly rebalance (78 out of 79 companies), and why they specially singled out Greatland so that it was the only company where not a single shares was traded by them on rebalance day.

All of this on top of the $18 Million worth of (195 Million) shares they reported to the US Regulator as being out "On Loan", one could perhaps argue that they are not only complicit in controlling the SP via their potential breach of their mandate to track the index, but that they also have a potential "conflict of interest" against their fund holders.

All potentially legal and above board but to me it leaves a bad odour.

I await your response with bated breath.

I will, however, pay more credence to the feedback I get from Greatland Gold PLC, our house broker and Vaneck themselves, who will be looking into this issue on our behalf.

All the best Resident Pumper No.1

Many thanks for the insight @Starbright

Both the Fund Description and Principal Investment Strategies, taken from the Summary Prospectus for the GDXJ Index, suggest that the Index management is pretty passive and not many portfolio management decisions are taken. So I would suggest it is either a mistake or they have taken a "strategic" management decision not to adhere to the fund rules for Greatland at this time.

Fund Description

VanEck Junior Gold Miners ETF (GDXJ ) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVIS Global Junior Gold Miners Index (MVGDXJTR), which is intended to track the overall performance of small-capitalization companies that are involved primarily in the mining for gold and/or silver

From the PRINCIPAL INVESTMENT STRATEGIES

The Fund, using a “passive” or indexing investment approach, attempts to approximate the investment performance of the Junior Gold Miners Index by investing in a portfolio of securities that generally replicates the Junior Gold Miners Index. Unlike many investment companies that try to “beat” the performance of a benchmark index, the Fund does not try to “beat” the Junior Gold Miners Index and does not seek temporary defensive positions that are inconsistent with its investment objective of seeking to replicate the Junior Gold Miners Index. As of December 31, 2023, approximately 92.53% of the Junior Gold Miners Index was comprised of securities of gold mining companies.

@speedymeadie - I have extracted the latest GDXJ holdings from VanEck, which was uploaded today following the rebalance. The number of shares held for 78 of the 79 constituents were changed, Greatlands were not. All other London constituents were updated. So I suggest, they have for some reason, not chosen to update Greatlands holding.

It is possible, but unlikely, that the purchase has been made but not announced. As SAS noted, the week before last there were a lot of late trades announced, the total number of this was fairly close to the number needed for the GDXJ rebalance, but there is nothing to say exactly who bought them.

I will be contacting Rowan and VanEck later to get this investigated / escalated.

Just got the GDXJ numbers through following the rebalance.

Our new weighting in the index is 0.42% (it should have been 0.80% according to the rebalance announcement 13.12.2024).

I have analysed the rebalance data in detail, and somewhat surprisingly, I have to admit the Vaneck and the GDXJ team do actually appear to know what they are doing.

They appear to have accurately rebalanced the index in the US for 78 out of the 79 Constituents which I thought was beyond them.

Unfortunately for us, the 1 company that was not adjusted during the scheduled rebalance is Greatland Gold.

Every single company with the exception of Greatland had their number of shares adjusted in the index.

The index is currently light of 151,880,553 Greatland Gold shares.

The above said, I note that the index appears to have $60,681,353.15 available cash for re-investment, it is possible that some of this is set aside to purchase Greatland shares.

#MakeYourOwnConclusions

What Does 2025 Hold For Greatland Gold – World-Class Assets – Transformative Mining Operation

https://www.share-talk.com/what-does-2025-hold-for-greatland-gold-world-class-assets-transformative-mining-operation/

And at the current SP of 6p that equates to nearly 190 Million shares.

@Spymaster25 - "Wasn't there supposed to be a 163m share purchase by cob today?"

Based upon last nights numbers, and expected GDXJ holdings for Monday.

Perhaps a better way of putting it is rather than in number of shares, it should equate to an additional investment of US $12.3Million (US 11.8 M, UK 500K) from the GDXJ into Greatland Gold by COB today. If they have already made this investment is likely but somewhat unknown.

Might be worth reading the thread below.

https://www.ggpchat.co.uk/viewtopic.php?t=721&sid=8298f0854340c56fc66019de5e205976