focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
This latest raise at 8.2p is yet another hammer blow to me but I will not sell out. Steeling myself for further drops in the share price to 4p.
Back on 12 January 2022 I said
“If we follow the Lassonde curve literally then the share price would fall to around 4p (ie about twice the level it was at the beginning of the discovery stage) before the second upward cycle starts to take effect”.
Just did not want to believe it for GGP given the forecast prospects but the shorts and world and national events have helped to blow us out of the water for 2022. I now believe that 4p is more of a probability than an remote possibility.
Nevertheless holding on for better times by 2024. GLA
Surely we can join the dots now - Shaun Day came to London to secure the option for funding the $85m offer etc and that is the reason he did not disclose the purpose of his most recent visit at the meeting with shareholders on 14th July 2022.
This is what Shaun said at the last meeting about funding:
He said his top priority is Havieron. First any cash raise would be used to ensure that GGP did not delay the joint venture through lack of funding on our part (or even if the opportunity arose to help accelerate development of Havieron); secondly to bring in more IIs. He was pressed to include PIs in any fund raising and he said he would try to do that.
He avoided answering to the question about why he was in London [for two weeks]. He stated his preference for keeping 30% of Havieron. He made references to Term Sheets and 'banks you and I use' willing to provide funding.
I suspect he may have had an inkling back then that NCM were not going to take up the 5% and so it seems to me that funding will not be a problem even without the $60m for the 5%.
Yes, NCM confirmation of the 6.5m gold eqv MRE is a welcome piece of news matching GGP's MRE2. But I am puzzled....
What about Callum Baxter's hint in his recent interview that the resource would increase [again] by 50%? Was he steering only towards the forthcoming NCM announcement or something else?
In my opinion there was a good deal of investor appitite for all mining shares back in 2020 and if the GGP market cap was 'out of whack' so was every 'Tom, Dick and Harry' mining explorer at that time. In GGP's case there were excellent and exciting drilling results from Havieron but on top of that 'misleading' hype about the drilling prospects at Scallywag (and it took only first set of results from that second tenement to burst some very high hopes).
Referring back to my notes from the AGM on 14th December 2021 the Chairman said to me that £600m was a more realistic market cap for an explorer company (when talking about GGP's previous £1.3bn market cap). That was before GGP's MRE2 so in my opinion 11-12p is too low for the current state of affairs at Havieron yet alone for GGP as a whole. GLA
Hi Everyonesawinner,
"if you look at Newcrest then they have fingers (shares) in most of the explorers around the Patterson but not GGP?? Which is very strange"
I looked at their last annual report
From NMC last annual report (page 175)
c) Investment in Other Associates
SolGold Plc (‘SolGold’) is an Australian based, copper gold exploration and future development company with assets in Ecuador, the Solomon Islands and
Australia. SolGold is listed on the London Stock Exchange (‘LSE’) and the TSX. As at 30 June 2021, the Group held 309,309,996 shares (2020: 281,216,471
shares) with a market value of US$122 million (2020: US$73 million) based on the closing share price on the LSE.
Azucar Minerals Ltd (‘Azucar’) is a mineral exploration company listed on the TSX. The associates’ assets include the El Cobre copper/gold porphyry
project near Veracruz, Mexico. As at 30 June 2021, the Group held 14,674,056 shares (2020: 14,674,056 shares) with a market value of US$1 million
(2020: US$2 million) based on the closing share price on the TSX.
Antipa Minerals Ltd (‘Antipa’) is an Australia mineral exploration company listed on the ASX, with exploration assets in the Paterson Province of Western
Australia. As at 30 June 2021, the Group held 310,010,163 shares (2020: 228,472,719 shares) with a market value of US$10 million (2020: US$4 million)
based on the closing share price on the ASX.
The Group has a right (but not an obligation) to appoint a Director to the Board of each of these associates
Hi Dip, it is 30 degrees indoors with the windows shut and the curtains closed and the fan blowing. I've got as much energy as the share price but your post prodded me from my stupour, thanks. I am all in here and I could sell out at any time with a tidy profit but not with the paper profits of back in 2020/21. Ever since the 14p raise I really thought we had reached the bottom (ha! ) putting a little bit more of my reserve funds at 14p then 12p and most recently at 13p but I really need that money back as soon as possible as it is making me edgy/ irritable that is on top of the disappointment of the falling share price from 37p. I feel that come 2024 if not sooner we will all be winners and I'll still be with GGP - a once in a lifetime opportunity. ATB Mremc2
Monty thanks for that explanation. I read up a bit more here - yes it is the banks that create more money and that's why they cannot be allowed to fail. ATB Mremc2
https://www.investopedia.com/articles/investing/081415/understanding-how-federal-reserve-creates-money.asp
If you look at the RNS 25 July 2017 PTY were given AUD$25,000 in cash and 65,490,000 shares. So what happened to those millions of shares - must have been sold as they are not included in the 138m total. Hmm! Many making pots money from GGP but others have to wait until ??????????
Perrins, from your posting history looks like you have wanted GGP to be taken over for your quick profit. Have you perhaps been trading in and out trying to catch the right time? This from page 6 of your history
Why I’m invested 12 Jul 2018 20:22 (share price 1.42p)
"With so much promising news and potential here, I can’t believe that the majors haven’t noticed that the value of our company is significantly less than the value of the current licenses. IMO of course, but nod, nod, wink, wink".
Hi Speedy - that would explain why all those commentators who have been forecasting $5,000 to S25,000 prices on fundementals for years have never been right. I suppose as these countries own the most gold reserves in their coffers should their currencies threaten to collapse then they would let the gold price rip - gives them a strong hand! Cheers Mremc2
Riddle : why isn't gold higher?
Debt Gold
US 36.6tn 8,133.5 tons
Russia 295bn 2,301.6 tons
UK 3.3tn 310 tons
https://usdebtclock.org/world-debt-clock.html
https://tradingeconomics.com/country-list/gold-reserves