The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Just read it! This is a phenomenal gold mine, and this MRE has just firmed up a relatively small section of it at over 4moz!
On top of that it has basically confirmed open mining.
I'm not really sure what people were expecting from this MRE!
To try and put it simple, we've had 12 sets of "9 out of 10"
This MRE was an independent check of say 4 sets of those results and they've came back at 36 out of 40 - ie exactly what we expected.
Today's sp action is nothing to do with the actual numbers in the MRE. GGP has became a self-fulfilling prophesy - every time results are announced the sp dips and novices wet the bed and sell their shares to the LTHs, MMs and IIs at knock-down prices. Todays sell-off is a mixture of that, and those with long-term targets of "hold until the MRE".
Sp at close today will be mid-30s, and by this time next week (just before GDXJ buy-in) I reckon low 40s
This is a once in a life-time discovery
Following the AGM, has anybody revised their estimated SP predictions for Christmas!
I get the feeling that the news is going to be released in a more controlled manner now, which will dampen down any spike, but prevent any crashing dips after events such as GDXJ buy-in, etc.
Personally I think a couple of steps up due to drilling results and GDXJ, but still only 40p by Christmas, based on a middle-of-the-road (ie partially priced in) MRE for Hav, and SWAG being announced early in the new year (which for me is the fundamental event that has the potential to blow the doors off).
27.8p at 8:10, without any further news.
I think we'd have seen a healthy day anyway with GDJX front-running, this effects the fundamentals which will push sp, but also will have an exponential effect on the "GDJX-effect" and therefore also the front running.
If a SWAG RNS is released as the decks are now cleared then all bets are off, but at least mid 30s, again due to exponential effect on GDJX
I'm not one of the LTHers I presume you addressed this to, but it's a great question, and something to day-dream about for a bit of positivity (if it's needed!).
When I first bought in (at 14p) I figured 28p was my target - I'd withdraw my initial investment and let the rest have a free-ride until such time as I needed the extra money. As I spent time on here and researching (something that should prob be done before investing rather than after!) I became more and more convinced that we're onto a good thing.
Since then I have sold every other share I held (turned to to be decent timing) and put it into GGP. I've also added on falls and have gotten to the point where I have £30k in at an average of 19p. I feel pretty exposed, as I'm going against the golden rule of diversification, so seeing profits falling from £12k to £6k in the space of a few days hasn't been comfortable to watch. I seen the rise and fall coming, and I actually tried to set a limit sell order on my initial investment at 28p but it didn't go through. By the time I could sell it had fallen back to 24p and I didn't really expect it to go much lower than that.
What I have taken from this week however is lessons learnt. I don't know the next time I'm going to be in the same situation again, but with hind-sight I feel that the sp movement was actually pretty predictable. Next time I will see it clearer. What I also think is predictable however is another big gap up on some positive news. The GDXJ was way over-hyped, novices and traders came to play - traders made some good money, notices got burnt and have likely mostly sold up now. Now that the GDJX carry on seems to have passed, we can get back to how things were previously, only now secure in the knowledge that lots of shares are in sticky hands.
To take something positive from the last few days, hopefully all the weak holders are now flushed out or have researched and strapped themselves in. Hopefully we'll not now see another sell-off again when the Johnny-come-latelies finally break even at 25p again.