The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Completely perplexed at this weeks positive but steady action, and where these GDXJ shares are meant to come from tonight considering the consistent buying pressure?
Going to be interesting, and 40p UT is very much in play (though not for us mere mortals!).
Hi Sprouts,
I’m from Texas but live in Dubai, so Im good at this - GH has taken that double humped camel and turned it into a thoroughbred Mexican stallion with a neck that has, shall we say, an upwards trajectory.
Back to the point - funding done, an MRE that will explore over the next two years up to production, and other tenements that will keep the SP not so boring.
Agree Chester, I find this all intriguing and look forward to the reasoning more than the SP effect!
For the share price effect excitement, I leave that to GDXJ ;)
Gonna be a fun week. We just shook the hell out of the 27-31p channel, I think they’ll have to go the other way in dramatic fashion to look for shares.
I’ve said it before, I don’t think we can view the Juri JV in a vacuum, it was too left field and I’m convinced there were other outside influences of which we are not aware. Be it positive Scally cores, risk of an outside takeover, or a combination of these and others. I think the Juri JV was pushed hard by NCM to protect their own interest (and GGP), and GH had to fight to keep Scally...for now.
Agree Mickey and Gullible, can’t rule that out. However, if that was the case, why wouldn’t GH continue the plan in bringing the rigs up to PRE and put in some holes whilst it is still 100 percent GGP. Did they think ‘oh well, nothing to see here at Scally, let’s just go ahead and give 80% of PRE and BH to NCM’...
Me thinks not, but what do I know !
If I recall correctly, on the Monday to Weds prior to the last GDXJ buy (ie just after they announced the allocation) we saw massive jumps starting at 8am. And in the weeks prior, we had also gone on a huge positive run from around mid August, thus there was understandably an element of profit taking to create liquidity on the way up.
This time around, we’ve had huge sticky funds buying 100s Mil in the interim and, most notably in my view, over the last couple of days we retraced and completely wiped out the 27p - 32p channel. The folks remaining seem to understand the MRE, and the market has caught up. The weak have already been shaken.
There’s going to be huge buying pressure from 8am Monday, which we saw had already commenced midday Friday. So my rhetorical question is where will the shares come from?
Now imagine if a Scally rns was to fall into the mix...Michael Caine / Italian job comes to mind ;)