Pure Gold Mining - share monitoring

Discussion of the proposed Cashback Investment Club

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HOLD / BUY / SELL Pure Gold Mining

Hold
6
55%
Buy
1
9%
Sell
4
36%
 
Total votes: 11

Beachboy
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Re: Pure Gold Mining - share monitoring

Post by Beachboy » Thu Jun 25, 2020 3:41 pm

How much higher does anyone else think/hope this will go before selling? I am keen that, as has happened in the past, we hold on hoping for just that bit more and see a potentially very decent return evaporate.

garindan
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Re: Pure Gold Mining - share monitoring

Post by garindan » Thu Jun 25, 2020 6:15 pm

Beachboy wrote:
Thu Jun 25, 2020 3:41 pm
How much higher does anyone else think/hope this will go before selling? I am keen that, as has happened in the past, we hold on hoping for just that bit more and see a potentially very decent return evaporate.
I think it has a LOT more to go up yet. In all honesty this will make the club if it comes off. Yes, the vibe could be overblown but on the other hand it sounds very, very promising at the moment. If the first pour results come in within the ballpark they are hoping it will be then we could be in for a bonanza.
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AAAlphaThunder
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Re: Pure Gold Mining - share monitoring

Post by AAAlphaThunder » Thu Jun 25, 2020 6:57 pm

garindan wrote:
Thu Jun 25, 2020 6:15 pm
Beachboy wrote:
Thu Jun 25, 2020 3:41 pm
How much higher does anyone else think/hope this will go before selling? I am keen that, as has happened in the past, we hold on hoping for just that bit more and see a potentially very decent return evaporate.
I think it has a LOT more to go up yet. In all honesty this will make the club if it comes off. Yes, the vibe could be overblown but on the other hand it sounds very, very promising at the moment. If the first pour results come in within the ballpark they are hoping it will be then we could be in for a bonanza.
I concur, the current value of the imutual Cashback Investment Club holdings is £6,513.31, and, in my humble opinion, Pure Gold Mining can push the value of imutual Cashback Investment Club holdings into £XX,XXX.XX.
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planteria
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Re: Pure Gold Mining - share monitoring

Post by planteria » Fri Jun 26, 2020 8:31 am

from the outside: gold mining as a sector could really boom.
monetary policy is contunuing to build enormous public debt bubbles.. gold and bitcoin are the most obvious hedges against 'the system'.
fwiw i hold Newmont rather than Pure Gold Mining, but i assume much of the potential upside is aligned.
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garindan
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Re: Pure Gold Mining - share monitoring

Post by garindan » Fri Jun 26, 2020 11:17 am

And another 6% added this morning. I do hope members will think long and hard about keeping this share so we can realise hopefully a very large return. As soon as we have gold pouring from this operation we should see some even more significant price upturns.
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Re: Pure Gold Mining - share monitoring

Post by parchedpeas » Fri Jun 26, 2020 11:26 am

If we're so keen on this one, why are we not selling something else and throwing more into this?

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Re: Pure Gold Mining - share monitoring

Post by garindan » Fri Jun 26, 2020 11:29 am

The vote to consolidate by selling some other shares to concentrate on a few we already have got no backing, in favour of buying a new share (braemar shipping).
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richard@imutual
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Re: Pure Gold Mining - share monitoring

Post by richard@imutual » Fri Jun 26, 2020 11:30 am

PGM now represents over a third of our entire portfolio by value. I think there's a case for selling half, in order to spread our risk
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parchedpeas
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Re: Pure Gold Mining - share monitoring

Post by parchedpeas » Fri Jun 26, 2020 11:34 am

Blimey Richard! You're normally the one who was happy to take a punt!

Do we have any idea what to put the funds into if we did that? It might be worth testing the feeling of the club over how to manage this share longer term if it really is the potential 'goldmine' that is suggested. Good alternatives might help give us some alternatives - I'm not that keen on selling it and letting it sit in cash, even if it means riding a bit of hype and volatility with PGM. Others may disagree.
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garindan
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Re: Pure Gold Mining - share monitoring

Post by garindan » Fri Jun 26, 2020 12:00 pm

I can totally understand Richard's view on this. However, as much as i would normally agree with removing risk this share isn't like any of the shares we have ever bought before and we may never get the opportunity of owning such a potential windfall producing share again.

People on investment forums have been taking about how incredible the yields have been on drilling so far. Comparisons have been made to other goldmine companies, especially another in Red Lake only a few kms away. Talk is that the share could go to several pounds if it were to match peer company share values. Even if it got to half that, the return for the club would be several times the original investment.

How often do potential opportunities like this happen? As much as I love the idea to sell our entire holding for a 125% profit right now, which would be an incredible result as it stands, I'm still drawn to think i'd be kicking myself at what could have been if we did sell half, all or whatever and the price went up and up.

Personally, I think we've had a number of years of playing safe and despite that we've been bitten by the effect of lying directors at Carillion, BREXIT and then COVID-19, resulting in no gain. That's frustrating enough but to change our strategy to more risk and then not risking when we can see something interesting brewing, and thus not make a significant gain would just about finish me off!

Of course it is a risk but that's the situation.
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