Member Info for Sageman

The report totally supports my earlier post. Systemically the story hasn’t changed for gold as a result of Trumps Davos comments ( POG may consolidate but the fundamentals remain intact). So back to the mine itself - excellent management with laser focus optimising the resources. The report suggests years more Telfer production - but not just production scratching a living - production mining decent grade profitable ore. Additional mine life extension not costed and supportive not just of the current SP but future gains , thus derisking our investment. GLA

The US has allowed itself to get into a complete mess : semiconductors (Taiwan), Rare earth Magnets ( China). I could go one. Trump is making desperate moves to address this = Tariffs, Greenland , policy in Ukraine etc. The world has recognised the weakness and the $ continues to lose its lustre. Day to day Trump says conflicting things but the fundamentals don’t change. As the $ falls gold and precious metals shine. This is the big picture and every producing miner is benefitting and for now (day trading aside) there is no foreseeable change to this narrative. I have major exposure to the entire gold sector…financially it’s been the best year of my life. More to come , so enjoy.

Shares don’t go up in a straight line so having a day where we see profit taking and still finish higher is good. GGP aside in terms of its own issues one should look at wider systemic issues. These are equal drivers for GGP as anything going on at the mine. There is no news at the mine (so those drivers are still intact). So wider issues : are central banks still buying gold? Yes. IS POG rising ? Yes. Is there now a new axis of power challenging USA (N Korea, China , Russia)? YES. Is the challenge from that axis of power weakening ? No. What is the result? Geopolitical uncertainty, a scramble for rare earth magnets, weakening of U.S power. What does this lead to? Further de dollarisation and further buying of gold. We basically have a virtuous circle of cumulative causation. I have seen many posts about top slicing. Each to their own . However, why top slice if the drivers for continued growth remain and are actually intensifying. My view is that there is nothing happening at the mine to make me want to sell and systemic risk is positive. Do what you need to but I am not profit taking yet.

Irish, we all due respect. I don’t need to drink water. I seriously suggest you do some fact checking. I have spent hundreds of hours researching.

Ok, FWIW here is my take. We now have a new axis of power NKorea, Russia and China to challenge the order established post WW2 of the West led by USA. The weakening of the $ and strengthening of gold is evidence. China is not a democracy with a ruling party in power 100 years in 2027. It plans long term. It wants Taiwan by 2027. What does that look like? Sanctions? Consider semi conductors. Where do they come from? Taiwan. This explains the tariffs. Need a structural change. Moving on. China has 92% of rare earth production capacity and access to the bulk of global rare earths. The issue is rare earth magnets which are needed for weapons, war planes etc. The USA may not be able to produce advanced weapon art as a result in a decade. This is a major issue. The USA has been outmanoeuvred and need to catch up. Use this lens to assess US foreign policy in Greenland and Ukraine. Our Western world has become enfeebled by debt and entitled populations. We desperately need to cut interest rates for global,growth. I am no lover of Trump but action is needed. So what does it mean for us? Global rate cuts = good for Gold, precious metals, stocks and fixed interest. Great for investment in 2026 (but beware tech bubble). In the meantime the geopolitics are toxic. GLA

Some here may find me strange but I am pleased to see a bit of mild profit taking going on today. The broader market remains robust with both silver and gold making gains today. No share goes up every day, week in week out, so a bit of profit taking is to be expected and actually very healthy. I am well diversified into the gold and silver sector so my overall holdings will be little changed. Still plenty of buying to come from the index trackers and profit levels remain beyond Shaun's wildest dreams. The fact is that the whole sector is awash with unexpected cashflow. Imagine doing your budgets and costing out mine expansion, drilling, funding interest on debt with POG at $2300. Imagine at that stage you were making $500 per oz. At $4600 the same company makes $2800 per oz. Profits through the roof, windfall cash. The sector had suffered for years with POG between $1500 and $2000. This led to debt, delays in drilling programs, lack of development and opportunity etc. In contrast now the debts are becoming history . Its like someone turned the lights back on. My focus is GGP who completely unexpectedly can drill Hav debt free but within the sector every miner has their own story. A rising tide has lifted all boats. Enjoy GGP , but also the broader sector rally.

No worries Covmutley, I would say that I am not ramping GFM. I moved the bulk of my GFM money here. FWIW I have no issue with GFM as a business (it is tremendous) but it is in China. The geopolitical risk is therefore extremely high. For those people who do not know China have said that by 2027 (the 100 year anniversary of the ruling communist party) it intends to control Taiwan. What does that look like? Would there be sanctions? Enough said - very happy with GGP and I hope that I have said enough to make sure people realise that I am not ramping GFM. If I was to ramp anything it would be the gold and silver sector and to diversify via the numerous funds ( ETF’s , Jupiter Gold and silver etc).

Covmutley, I don’t know your investment experience but I have been investing for 40 years. GGP is a unicorn. The exception to the rule from a risk/reward basis. This is only the 2nd time I have encountered such a share (the other is GFM) which has 8 bagged for me. A unicorn allows you to invest a reasonable amount because the risk/reward ratio is benign. Most get rich shares make everyone rich but the Pi ( UKOG, COPL, Angel mining, Angus , Tullow oil….the list is endless. Watch wolf of Wall Street, it still happens , it is just more sophisticated). Ride this Unicorn as long as you can but don’t fall in love. POG is key here as it generates unexpected revenue that even Shaun’s “laser focus” never dreamed of. This is the right share at the right time. Enjoy

I don’t know your expenditure but if you had 100k and drew 5% pa with zero interest it would last 20 years. With 3% return it would last 30 years. My rule of thumb is that every 100k of capital should generate a very comfortable and sustainable 5k pa. In practice this model is so conservative in a world of 3-4% base rates that you should be able to increase the income with inflation as you go along. The investment return is always related to cash returns. An investor must rewarded for risk (or everyone would hold cash). Depending on the level of risk expect returns of 2-5% pa in excess of the rate of return in cash deposits. Yes I know that 2025 was excellent but 2022 was dire! I hope this helps.

TomE, I have not mentioned the size of my holding just the weighting within my portfolio as a percentage. I think you need to re-read what you wrote as opposed to what you thought you wrote. You were saying that you are a big investor and demanding that BB posters here give you information about Hav. When someone tried to help you then reiterated your demands. Accordingly, I referred you to the company direct and said that any update would be via an RNS as it would otherwise be insider knowledge.

TomE, with due respect I don’t give a fig if you think you are a big player and this is just a BB. We have no insider knowledge. I suggest you ask the company direct for an updated on Haveiron via RNS as insider knowledge is illegal. FWIW large investors keep quiet about it!

I have been doing some research around rare earths. It doesn’t get much mention but our 51% holding in Motzfelt has some interest. Basically if you extract GROC the value of all our other holdings is just £2m. So our Welsh mines and Motzfelt for £2m. My understanding is that the market for rare earths will continue to expand along with the prices. The Chinese have cornered the market and the USA is desperate (hence wanting rare earths in Ukraine and Greenland). Very interesting.

Mine was one of the 25m buys in the last few minutes of trading. Just punt money. The best place to find gold is where you have already found it and there is very little value attaching to Clogau. With POG at $4400 the grades don’t need to be that good to be commercial and the MCAP of Clogau is tiny. Surely the blasting must find something of value? GROC also is in play. The mine has been plagued with bad luck - flooding, permits etc - and the sp reflects the financial damage caused and the delays. However, the time has allowed them to do a lot of planning so hopefully the blasting will accurately target existing veins and find continuation. Fingers crossed.

I don’t really get Bampsgate. Bamps does geology and without his in depth knowledge and shared research many here would not have felt as secure to invest here to the extent they have. Bamps has never ever been a trader so taking trading advice from him is at best questionable. Personally, I am happy with the mine but equally importantly happy with gold. I continue to invest here and in diversified gold mining plays. The drivers for this have not changed. It is the polar opposite to oil. Loads of oil companies needing $100 per barrel struggling in a $60 world. In contrast Shaun has a mine costed in the low $2000’s to wash it’s face nicely now awash with cash at circa double that price. I have said it before, no one expected this POG. The whole sector is on fire and will remain so for a while. Companies that were struggling to drill, struggling to raise cash from borrowing, thinking of rights issues now funding from free cash flow, doing extra drilling, do share buy backs. Enjoy….and give Bamps a break!

Actually sector up 8%, GGP UP CIRCA 4%. What a lovely day!

The broader gold mining indexes are up 6-7% today vs our 2.5%. GGP is 10% of my portfolio and I am very happy. However, there are lots of opportunities in the sector with current POG. Diversification into a sector is very different to investing in the S&P 500. GLA. FWIW I expect a strong start to January, enjoy.

I am not sure that the current size of buys shows anything. There are several people with sizeable portfolios (think £10m plus) for whom a 10k purchase is trivial as a percentage of their portfolio 0.1%. Anything less than 30-40k is meaningless. When I look at the trades there is nothing that stands out. Nothing institutional, no big purchases made by people with insider knowledge literally filling their boots. What I see is genuine interest based on what is in the public domain. Fingers crossed for decent assays.

Growmore , your assumptions are simply that , on all levels! If they “undoubtedly “ had the assets you claim the sp would be many multiples of today’s values. Thus there is substantial doubt. I am not pompous just fed up reading mindless drivel written by those who assume that others have a negative IQ or have one themselves.

Rather than read the nonsense written by the rampers and derampers I prefer to look at the MCAP which is currently circa £22m. To compare this co with GGP is frankly ridiculous other than to reflect on the journey that GGP had in terms of peaks and troughs. The excitement of finding gold and the grim reality of funding it and the time required to get to production. Fortunately, with gold at over $4000 per oz the sector is awash with cash. My hope is that we get good assays and then get either a JV or better still bought out by a producer. The reality is that someone coming in with 100-200m would mean juicy profits for pretty well everyone. GLA

Vict, when/if you go abroad buying is often not a good idea. But it’s about the balance between money, friends, family and lifestyle. I think that you will find that Cyprus is a better bet than you think. Not just a few comments on a BB but several years of research. I was married in Cyprus and had clients live in Cyprus for 20 years (they spent time in Cyprus for tax, France and the Uk). They had a lovely time but each to their own.