Member Info for TakingMyTime

Thank you again for the nice comments from many.

@Jiffy, LOL at the monthly GGP-sermon. I don't expect to have time to keep up on GGP research enough to do that, which is probably a good thing!

@Ruth, I've seen OAC at work in both London and Los Angeles.

@Jet, thank you for your concerns for me, which I believe are genuine.

First, I'm doing something I've wanted to do for decades and never saw as a possibility until now. Every religion is called a cult by someone but I'm following the same faith I took for my own as a teenager. I have certainly asked myself, "Are you just rebounding into something?" I'd say it is a good friend who is willing to ask the tough questions like that and I appreciate you raising it, but I'm satisfied with the answer. Thanks.

Second, if owning GGP shares was sinful, I wouldn't give them to my kids! "Here, kids, I'm done following the devil but I'll help you follow him!" LOL. No, wealth is a good gift from God (though He does care how we use it).

Third, if not going to my church made people wicked, I would need to tell you which church to join, wouldn't I? Perhaps, then, I don't believe that, and your reading-between-the-lines skills can use some work. :)

Finally, I'm giving my GGP shares to my kids because it is wealth I'll never need, and because I won't have time to maintain research on shares. Most of my other shares I'll just liquidate. It would be foolish to liquidate GGP shares right now.

ATB to you all!

Thanks for all the kind comments. Thanks again to Bamps and TomE for pointing me towards GGP.

Apologies to those thinking I was pushing religion here, that was not my intent. I agree that religion has been used to cause a lot of problems. (So also have investing, chat forums, sport, politics, and sex.) It has also been used to accomplish a lot of good. I hope to be one of the latter kind.

ATB to all of you.

I said I'd let my friends here know eventually.

In late January, I got a phone call from the father-in-law, asking why I never got really involved in Christian ministry. He and his wife were sure that's what I would really like to be doing and they thought I'd be good at it.

I thought about it and phoned him back the next day and told him it really came down to money. I'd had a family and their daughter hadn't been precious about money but I didn't think she was cut out for poverty. So I'd never really considered it but it had crossed my mind. Long story short, he said if I wanted to pursue it he'd make the funds available now rather than in an inheritance.

So, from there, it was off to Jamaica to talk to some family, then from there to America to spend three weeks with a spiritual mentor, then a month with another (travel in a Covid world was tricky, but we managed). Well, it now looks like this is the way I'm going and I'll be here a long time.

Current plan is to attend seminary starting in the autumn and work as an intern in a church in inner city LA, probably for 3-4 years. All financed by the in-laws. Then, I'll be going into a deprived area somewhere in the Windies, whether to join an existing ministry or to start something new, I don't know. Since I won't have to worry about money I can just go where most needed and do what needs to be done.

That's why I've been on the West Coast so long.

It's been on my heart for a long, long time, I just never thought it would or could happen. I suppose it is one of those "When God closes a door, He opens a window" things. It's only a window, it's not like having my wife back, but I could never see her in inner-city LA or some places in Kingston. The door closed and I'll probably never get over that, but the window looks pretty cool to me now.

My kids seem to think that it's a better way for me to grow old than working with a bunch of professional traders and fund managers, and the geeks who help them.

My mentors say I'll need to drop out here. First, it could hurt the ministry if someone thinks I encouraged them to invest in something and then they lose money. And I'd be sure to lose anonymity. Second, I too quickly react to idiots and offensive behaviour and participation here is probably not helping me have the proper habits of response that I'll need. So, follow your mentors' counsel and know your weaknesses, I guess.

Will probably be around a little longer but probably will be gone from here once autumn hits, if not sooner.

ATB to you all and special thanks to those who have been good, if anonymous, friends. I've enjoyed this group of people. Many have been kind to me and I'll not forget.

(I'll probably give my GGP shares to my kids, in case anyone cares about that. I never owned enough to affect the market anyway.)

"If it goes wrong then it would be a resigning issue for Sandeep. Imagine telling the board he jumped the gun on Havieron."

Er, no. The board has been fully involved in these decisions, and the reason (Telfer) is obvious.

It's a gamble, sure. But because of Telfer, NCM was playing with a losing hand when the chance came along to take a gamble and try to turn it into a winning hand after all. The cost of taking this gamble, compared to the cost of just closing down Telfer, made it an easy choice. The risk / reward calculation is clear.

If NCM had passed on Hav and Rio came along, that would be a resigning issue. If they weren't pressing ahead at speed given the total situation, that also would be a resigning issue. If this attempt to rescue Telfer doesn't come off, that won't be. He did what he had to do and NCM's board was fully in agreement.

You may be right about market speculation. As far as future profitability, HBs seem to me to be a pretty good place to be in an inflationary environment, especially given the UK housing shortage.

Why?

Detracts from the board, doesn't gain you (or anyone else) anything.

Just report him if he breaks one of the rules and then move on.

@hydro "And being vertical it's the perfect shape to just drop from the bottom in a giant block cave."

But what if they can never find the bottom? Asking for a friend....

"intercepts of less than 200m don't carry much weight as far as Todoruk is concerned.
The grades are fantastic but don't run deep."

I suggest you look again and particularly at page 4. This is extending the high grade zone 80m below the MRE and below HAD065W2. In other words, it's not just 85m, it's extending the HGZ 80m deeper, and it is still open at depth. The deeper it gets the better the grades, it seems.

Absolutely, AG.

Remember "the best intercept to date"? HAD065W2.
120.7 m @ 9.3 g/t and 0.18% Cu from 1349.3 m.

Now compare:
85 m @ 11 g/t and 0.29% Cu from 1345 m.

I don't care what the market thinks about "only 7 holes." I know what I think.

"85@11g/t from 1345m is outstanding."

Well actually, 99.7m@2.5g/t Au and 0.85% Cu is outstanding.

85@11g/t is pretty much beyond outstanding.

"AUgusta..and ....CUllan"
...and...Havieron? :)

No, sorry, that's Callum's baby.

"...no, not another baby!"

Just wondering, when you say "another", how many do you already have? While we're waiting for Sandeep....

@WF "Me, I'm quite simple. I think that they have looked at all the information available and have produced a considered report of their findings."

Mostly, I agree.

I'll add "and conservative" after the word "considered".

And I'll add a sentence after that one: "Having been conservative, however, they've given plenty of reasons for their clients to see that they are being conservative, and plenty of room for themselves to increase their estimates / target."

It's the way it should be. Give me the conservative story but let me know if you see the potential for significant upside beyond that. That's what they've done.

Nice note.

Probably most missed it but they've obviously been talking to their II clients and are getting back the "but valuation" objection. This is primarily intended to answer that.

They are not privy to tonight's release (though there might have been some winks and nods, but nothing they could base a valuation on). So coming out with this projection of 10-15 moz before tonight is ok with me.

I have no complaints with this broker note. It's a little conservative, but I want my broker to be conservative, I don't want them to hype the stuff they recommend to me. I want them to be credible and protect their credibility, and that means staying a little conservative.

Nice, Tom, congratulations!

Ok, I've been asked why I think that. So I'll elaborate.

1. All the evidence (and this presentation Paddy posted about fits) points to more good results about to be announced.
2. I think it was easy for the market to ignore the last good results because it was only four new holes. This time, it will be quite a few more.
3. A further expansion of the mine-able resource in any direction at all is likely to fuel rumours of an upgraded MRE soon.
4. I know Bamps is hoping there won't be an upgraded MRE soon but I don't think anyone can rule it out and if the resource shows to be significantly bigger, people are going to be expecting that possibly as soon as July.
5. If those rumours are out there, as well as Scallywag rumours and Juri rumours, FOMO is likely to kick in significantly.
6. I suspect Gervaise is done or exceptionally close to done selling, and I think there's been upward pressure on the SP for a couple weeks. I suspect it's been held back by a large seller (GH or someone else) who has given instructions to drop some shares every time it reaches a certain point, but that has to run out soon.
7. I also think we're going to see significant upward pressure once the PFS drops and that FOMO will kick in on that, too. We're now a mere three weeks from being in the second half of 2021. Not that I expect the PFS in July, but people who want to be in GGP when it drops have to be thinking about getting in pretty soon.

I am often wrong, and I do much better at investing than at trading. But those are the reasons I think this may pop soon. I expect it to still be well below the actual long term value, but if we're still below 25p a month from now I'll be surprised.

If you buy based on the opinions of some guy on the Internet, you're a fool. :)

Choo, choo!

@Paddy "Debra is a senior investment adviser at Shaw & Partners - interesting that they are presenting on Thursday "

Thanks for that, Paddy. I can't believe I'm saying this, because it's totally irrelevant to my GGP strategy what the SP does in the short term. Also, because I tend to laugh at other people who say it. But here goes anyway....

I think this SP is going to pop soon.

"I am sure most investors have many thoughts to plug into the equation. The more successful investors, imo, know what these thoughts are and can quantify them."

Great thoughts, Jerry.

"I have sold 50k shares of my core holding this morning."

Congratulations. You found a good investment, you held it long enough to make a great profit, and you banked it, not because of panic or a failure to properly consider the situation, but because you needed the money. You are doing it right! And your house is a much bigger investment than 50K shares of GGP, so converting those shares to cash to protect your bigger investment is obviously the right decision.

@Impecunious2
Thank you for saying such nice things about me. Interestingly, I'm seriously considering a major career change which is similar in some ways and yet drastically different from the path you suggested for me, so I find your comment intriguing.

Your point about risk and age is well-taken. And yet, surely there are points in life where the potential cost of risk-taking changes the dynamic. You are speaking of someone who can truly afford to lose all they are investing, perhaps. But many people are not in that circumstance. A house purchase beckons, or retirement is still on the horizon. If they can't possibly reach the financial goal without huge returns, then risk is justified. But the person who is 50 and is close to being able to retire at 55, he should really consider whether risks are justified, should he not? By taking a risk he might get to retire at 54 instead -- or he might blow it and end up deferring retirement until 62-63. Is it worth it? It's a question he should at least be asking.

And even in your example, of the person who knows he is going to die tomorrow, there is variability. His "At least I got that one right" isn't going to really do him much good. But perhaps he has a wife, or a disabled child. His risk might leave them destitute, in which case it seems unjustified -- or, they might be destitute unless he takes a gamble and succeeds wildly, in which case it might be his best course.

In any event, to be honest with one's self about one's self and our changing circumstances is pretty important. But as you rightly note, the usual canard about age and risk is not sound. It truly does depend on the person, their circumstances, and their view of life, money, family, and a lot of other things.