The FTSE

[One Fan Clapping]

Check the GGP SP in the morning. Provisional Q4 results released on ASX and look very good. Production up and cash in the bank close to $1bn with no debt.

Just coming on to post these results.

Up 6% this morning.

Must still be a BUY despite 56% gains in last two/three months.

 

[Gareth Barry Conlon]

Just coming on to post these results.

Up 6% this morning.

Must still be a BUY despite 56% gains in last two/three months.

A great tip whoever came out with this.

Not sure it's still a buy though. The reasons to get into gold are still valid (global political turmoil and the debasement of the dollar), however the price has really spiked. 70% up over 12 months is crazy. I'm holding mine but I can't see it going much higher.

 

[west didsblue]

A great tip whoever came out with this.

Not sure it's still a buy though. The reasons to get into gold are still valid (global political turmoil and the debasement of the dollar), however the price has really spiked. 70% up over 12 months is crazy. I'm holding mine but I can't see it going much higher.

GGP is actually up 340% in the last year however its PE ratio is still in single digits (quoted as 8.66). Other companies in that sector are typically around a PE of about 20 so there’s still scope for significant SP growth. They are very cash rich so as soon as dividends are mentioned (maybe in a year or two) the sky’s the limit. I don’t plan on selling a significant part of my holding apart from an occasional top slice.
There will still be downward blips for example if there are production problems or if the gold price temporarily goes down but they will be buying opportunities.

 

[m32blue]

I bought a few GGP shares at about 11/12p a few years ago. Sold a few at £4.60 (23p under the old ratio) just before Christmas but great to see them doing so well.Will hold on to my remaining shares

 

[117 M34]

A great tip whoever came out with this.

Not sure it's still a buy though. The reasons to get into gold are still valid (global political turmoil and the debasement of the dollar), however the price has really spiked. 70% up over 12 months is crazy. I'm holding mine but I can't see it going much higher.

When you say buy gold, have you physically bought it or do you just own a very small stake in a large pot of gold?
Does the gold actually exist or it is notional based on the price?

 

[One Fan Clapping]

When you say buy gold, have you physically bought it or do you just own a very small stake in a large pot of gold?
Does the gold actually exist or it is notional based on the price?

It’s a gold mining company not gold as such so the more they find and mine the more, in theory, the SP goes up. You own a (small) stake in that company. Check them out on London South East website. They are very healthy.

 

[Gareth Barry Conlon]

When you say buy gold, have you physically bought it or do you just own a very small stake in a large pot of gold?
Does the gold actually exist or it is notional based on the price?

I don't have any shares in GGP which is a mining company. I have 2 things:

I have ETCs (exchange traded commodity), its a share in a trust that just holds gold. The etc is run by Blackrock and there us an underlying custodian (JP Morgan) that holds the gold bars. So I have an exchange tradable share in a pile of gold bars sat in an American bank vault somewhere.

I also have shares in a precious metals mining fund ETF. Its gold focused but its a bit broader as many of the companies within it are mining a variety of metals or even just linked to the industry.

The ETF is actually up more than the raw gold.

 

[Gareth Barry Conlon]

The Supreme Court is going to rule on Trump's tariffs later today.

Polymarket odds suggests the tariffs will be ruled unlawful with circa 75% probability.

Hold on to your hats.