68 days ago
Precious metals companies investor Golden Prospect Precious Metals (GPM) has announced 2020 results including emphasising that, with now a higher metal pricing environment, “the precious metal miners… look cheaper on a P/NAV basis than they did pre COVID” (explorers only constituting 11.2% of this fund). So, despite a current 48.5p share price comparing to a 27.6p offer price March 2020 share tip, still an opportunity? Of course it is!
70 days ago
It was announced today that Chairman of Golden Prospect, Malcolm Burne, has opened his wallet and bought 25,000 more shares at 50p a pop. Now sometimes boardroom buying is just a spoof and the amount inconsequential, but I would suggest readers take this director purchase a little more seriously.
73 days ago
It is normally a bad sign when a company releases its FY results late in the afternoon, but yesterday’s issue of numbers from fully-listed Golden Prospect (GPM) at 4.26pm were quite reassuring. I wonder if it might have been better to wait for the following morning to avoid triggering cynics like me!
171 days ago
The response to the covid story of 2020 has been, short-term, government largesse and looks set to be longer-term debt and economic problems. In short, the stage looks set for gold to outperform – particularly with it down from more than $2,000 per ounce reached in the summer to currently around $1,860. So that means you need leveraged exposure to that.
203 days ago
Fully-listed Golden Prospect (GPM) has announced that the Subscription Trustee has exercised all the outstanding subscription shares for Golden Prospect (GPSS) and raised £4.77 million for the company as a result. Good news for the company, and perhaps a little good news for former holders who did not pony up the 46.14p per subscription share to convert into ordinary shares – although we will have to wait and see just how much will be returned to former subscription shareholders, as we are not told. But it is not such good news for ordinary shareholders who will be diluted and thus the potential NAV per share as of Tuesday night drops from 67.56p to 60.43p.
222 days ago
Trading in Golden Prospect (GPM) and its subscription shares (GPSS), for a sad nerd like me, is fascinating. The shares are just about heading north, the subs are down and the Gold price is just about rising, sort of. Followers of Jordan Roy-Byrne of TheDailyGold.com are waiting and waiting for that glorious buying opportunity which seems a matter of days or weeks away whilst at the same time Golden Prospect’s subscription deadline falls at the end of the month – just two weeks away.
246 days ago
Without being too rude, Malcolm Burne – Chairman of fully-listed Golden Prospect (GPM) – has seen it all before during a long career involved in gold. This morning Golden Prospect announced its interims to June which showed a 63.6% increase in net assets and a 54% increase in net assets per share – not bad for six months.
250 days ago
The correction in Gold and gold stocks continues and I am waiting patiently, relaxed as I am with my feet up as I sit on the veranda of my Montana log-cabin. It seems that the US election is taking centre-stage: I am not sure why, as both sides are promising the long-awaited fiscal stimulus, although Biden appears to offer more. But the outcome (or lack of one) will not make Covid-19 go away. The economic damage will therefore continue.
273 days ago
I have no crystal ball, so shares in Malcolm Burne’s Golden Prospect (GPM) could fall further before going up again, but I am convinced that it is now an outright buy.
280 days ago
The latest interview with Gold guru Jordan Roy-Byrne of TheDailyGold.com – ShareProphets favourite technical analyst – is out (HERE) and even he is bored. The gold price is range-bound, the silver price is range-bound and his preferred ETFs (from a study perspective) GDX (gold majors) and GDXJ (gold nearly majors) are range-bound. But there might be small signs of stirring at last.
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