Member Info for speedymeadie

Hi Doozer. Yes. I have seen estimates of Chinese gold holdings in excess of 33000tons. They are the biggest producer and never sell, add to that the amount held by Chinese citizens. It is very hard to get a true fig but there are several pointers to help gauge the amount of purchases made. We will only get a true fig when they decide to kill of the USA $ and that will not happen until after they have dumped most of their treasuries. ATB Speedy

Hi All. It seems the Fed has changed tactics and instead of defending the round 100 levels it is now defending $2650/0z. They are hoping the new ATHs will reduce buyers. With the buying season starting in India and the Chinese back in the mix i see no reason for any sign of a pull back and think the Fed will fail and the bull will continue to $3000/oz and beyond. It has always been said " do not fight the Fed" but this time it is different and they committing self flagellation. ATB Speedy

Hi All. Debt debt and more debt. The USA is, as we all know, in trouble. What most fail to understand is, so is the UK. The servicing of UK debt has reached £100billion/yr and we are in a death spiral with the only ways out being economic growth and i see no growth here or default on the loans. Creating more debt to service existing debt is plain stupid. This is the main reason i hold no cash and protect my wealth with gold. So should you. ATB Speedy

Hi loggy. Is that down the Cheshire cheese? ATB Speedy

Hi All. Using A.i. for financial advice is almost as bad as using a professional financial adviser. The A.I. tells you what you already know and the pro tells you to invest in what he gets the biggest kick back from. Do your own research, loads and loads of it. ATB Speedy

Hi Doozer. That is a hard question to answer. I own a multi generational family home, hold no cash and my split is (at the moment) 40% GGP 50%% gold (Britts and some sovs) 10% silver Britts. I use my gold holdings as a deposit acct, cashing in when i need cash then re buying gold once the cash is returned. The amount (% wise) of gold to hold is constantly changing as opportunities arise but any profits (or losses) are always converted back into physical gold never in cash. If another opportunity, such as Assured freehold tenancies, should arise, my gold holdings will dramatically reduce as it did in the 1980s/90s. In the 2010 i started to sell my BTLs and went 100% gold then sold to buy GGP.

So in answer to your question, there is no set %s except 0% cash. ATB Speedy

Hi All. I am not going to join in this debate as i am not qualified to do so. My expertise is in the gold market. Hedging is purely and simply a banking requirement and is only good for the banks risk reduction and does harm to the bottom line of the producer. Jerry has described that the way SD has arranged the hedge is a good deal. But if we had no debt and funded the CAPEX ourselves via dilution then the hedge would not be needed. That is one of the reasons i prefer dilution to debt. I fully understand that producers hedge to protect against a big drop in the POG but that is done for prudence not at the demand of the banks. ATB Speedy

Hi All. Just about sick of all the neg on here. Our asset is rocketing in value and we are about to start producing. MH done some calculations earlier showing what the SP could be with certain parameters. If you change $2500/oz for $3000/oz it does look even juicier.

We (as investors) are fully aware that CAPEX will be needed to bring Hav on line, so is SD and he has it in hand.

I am happy with my allocation at 4.8p and my market buy at 5.2p. There does not seem to be much selling below 6p, maybe that is the bottom.

The traders here will have their profits but most buy too late and sell too early. GGP is a buy and hold, that is how real profits are made, our new inst partners are fully aware of that. ATB Speedy

Hi Schlmeiel. I prefer Dillution (especially accretive) as opposed to debt. With dillution the Co as a whole takes on the debt and only answers to SH. Short term manageable fixed rate debt is OK. The banks/lenders have no morals and have no qualms about closing the loan and stripping assets. Been there and got the tee shirt, any one remember 16% home loans. ATB Speedy

Hi All. Once the small fry traders have had their feeble profits true value will be seen. So many pointers to a higher SP as this story unfolds. ATB Speedy

@CP. Good grief, you are such a bore with zero chance of hitting a big win. Unlike moi with an entry point of 0.7p and an exit price of 40p. Missed it by a few P but still well up and with a second chance of hitting my exit price. May i suggest a change in approach and try investing as opposed to jerking off. Speedy

Hi Charter rex. Seems you are correct, volume picking up a bit, we could maybe see sub 6p for a short time then back up as the market realizes what GGP is all about. Give the traders their profits as it makes no difference to the direction we are on. ATB Speedy

Hi All. Looking at the trades so far today shows just small time 10% traders goofing around. No serious down side here. ATB Speedy

Hi All. If you are going to tell porkies it is good to have a brain that remembers. Talk of massive profits and free rides when a while ago was talking about massive buying for a group. Your time is up.

Hi Bamps. Please advise a soon as you know the date in Nov. Need to book a hotel for Mrs Speedy and myself. ATB Speedy

Hi TheDoors/ Bamps. Would you be so kind as to arrange a Stroud meet i think Bamps will have a field day explaining the possibilities at Telfer. I would attend. ATB Speedy

Hi Swazers. May i humbly suggest you come back in about 2 years time and use P and L mixed with a bit of sentiment and readable momentum. Trying to chart GGP at the moment is a bit silly. ATB Speedy

Hi All. Where is doubting tom and fred dobbs et al. I could do with a laugh. ATB Speedy

Ho TomE. The pointers for a higher POG have been there for all to see. Glad you had your eyes open. ATB Speedy

Hi all. Another day another ATH. The western institutions are waking up and some have started buying. India has exceeded its highest buying level and central banks around the globe are loading up at a record pace. Do not let the ATHs put you off from buying, having said that, buying years ago was the winner. This era of fiat is coming to an end and gold will play a big part in a new currency. How much physical do you have? ATB Speedy