Member Info for mushroomkid

I wonder if the news hounds will attribute a fancy name to the stock market falls today? Corona Monday maybe?

There will be a morbid fascination watching a crash unfold on the screen, even though my own savings will be crashing with it!

At least I have GGP........

VC - you really are setting yourself up here. I'm not one for callng anyone out normally and I'm not going to filter you because I think you're an ok chap but blimey! These theories of yours are about as nutty as a fruit bar. Next you'll be saying that Elvis still lives!

The margins seem too tight in your calculations. If it really cost $1550 ish per oz to extract, then if we just take the last three years, where the price of gold per oz was around $1250 to $1350, none of the mining companies would show any profit.

It must be a lower cost per oz but I'm not sure how this would average out in order to give the rule of thumb profit margin.

Fascinating stuff. The machinery, know-how and cost calculation is truly mind boggling. Mining has come on a long way since the era of the pick-axe!

Figures. Those more in the 'know' (younger people) have, I'm guessing, got to hear of it soonest. I tried signing up and Im about 150,000 on the waiting list.

Thing is, youngsters have less money, hence the £2 trades!

Understandable applegarth especially under those circumstances. Ive also popped over to the ADVFN board on GGP occasionally and it is very clear that the other applegarth is not you. In fact, the other poster is clearly unhinged!

Im currently wasting my holiday watching webull lol

No intention of selling ggp but my goodness there are some bargains around too. A number of shares where I felt I had 'missed the boat', have come back into 'buy' territory. Unfortunately, I am out of cash and would be robbing Peter to pay Paul simply by selling depressed shares to buy other depressed shares. Pointless really! Just ride it out is my plan.

Good points I must admit. Let us hope that the virus fall-out will have been contained by then.

Looking at the dozens of shares that fared worse than GGP today, you have to consol yourself that you could be offering the crown jewels for ten quid and you wouldn't have sold at asking price!

After today's trade my isa and pension combined are now even more geared to ggp. Alhough that seems bit risky, had I left these funds invested in the other shares I would be significantly worse off right now and these were blue chip shares.

It seems as rational to invest in ggp as it is irrational to stay invested wish shares that have descended so much. I'd rather have a punt on something with really exciting potential than witness this drip, drip fall in value.

Hell of a tip there Investopian (jk :) ) On a brighter note the dip in sp here meant I cold get 1ks worth of shares for the other half, who had a trade plan buy at 4.52. She can finally share my enthusiam! Bought more myself too at 4.6. Didnt tell her that haha. Come on GGP! Standfast and then leap again!

Hi Alex, If you do a google search on how gold arrived on the planet you will see that a good proportion landed via meteorites as the Earth's crust was forming. Land upheaval and seismic movement means that a good proportion of this is tantalisingly out of reach for economic retrieval.
However, advances in technology and mining methods mean that those hot spots showing in the diagram are now reachable.

Previous drilling didnt go down far enough and as you can see, recent exploratory drilling has shown very high readings for gold a few hundred metres down.

GGP found it and now have an agreement with Newcrest which entails newcrest digging it out for a probable 70% share of the proceeds

The picture/drawing is a 'slice' through the rock to show where gold is thought to be.

Think I've got this right!

Were Newcrests previous exploratory drills in line with their capability at the time? I.e would anything under 100 metres have been considered uneconomic or simply beyond the technology of the day?

It has been a bit of a depressing week all told so, at the risk of arousing the ire of the 'what are you worrying about if you are a long term holder' members, it is a relief to see a bit of blue parting the Red Sea in the portfolio. Blimey. :(

Very surpised that the share dipped prior to the release of this report. Purely a relection of the general market coronavirus fears imo. Should see a deserved positive response today.

Eastender, there are one or two apps that allow you to trade for free provided you wait untl after 3 pm to do it. So it could well be kids putting in pocket money stakes!

A cult line indeed LifeoReilly!

Ironic that after all the efforts to extract the gold, the peasants who eventually despatch Bogart and empty his bags think it's just dirt and leave the gold dust to blow away in the wind.

Hey, that better not happen at Havieron!

I wonder if the miners' faces light up like Humphrey Bogart's did when gold is brought up to the surface?

Would it be like working in sweet shop though? Really exciting for the first week and then 'oh it's just another $10000 nugget'.

Great film by the way. Also quite modern in it's thinking, when the old guy insists they fill the dirt back in to return the mountain to it's former glory.

Reading a report on the BBC, which I am sure may be mirrored by other financial bulletins, the fears over a Coronavirus pandemic is completely spooking the markets. The Dow sank over 1000 points today. The third worst daily drop in history.

It seems a little churlish to ride on the back of this unfortunate period for world health but facts are facts: The report goes on to mention a surge in interest in gold.

We may see a significant move in the sp tomorrow boosted not only by the Newcrest presentation but also by a panic-struck market looking for the traditional safe haven provided by this precious metal.