Bigger companies in the fund have outgrown the GDXJ and probably moved into the GDX (the big brother of GDXJ).
It means these funds previously invested in these companies is spread amongst the ones remaining. To add to this, GGPs mcap has grown in the last quarter too which adds to the buy in. Gone from 0.66% of the fund in Q3 to 1.65% in Q4.
People are speculating there will be some volatility like last time as the MMs will have to fill that order on 18th December.
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Its because in the last rebalance our SP was 15p, the data for this current rebalance was taken on Wednesday when our SP was 33p. Added to that most of the other companies in the GDXJ have actually gone down in since the last rebalance (as the POG has fallen) and the biggest company in the index (Kinross) has been kicked out for being too big, It is the perfect storm.
Thanks, this explanation makes sense.
Price increase alone doesnāt explain it because the whole point of passive funds is that you donāt have to buy and sell when prices change. Once included they will automatically rebalance - if they go from making up 1% of an index to 2% the fund doesnāt need to buy any more shares, because the ones they hold will have doubled already.
Changes to the index (inclusion/exclusion) and big inflows/outflows from the fund can trigger buying/selling - seems in this case itās the former.
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iām interested to know what people think on the effect of a no hit scally? do you think we could see an initial shock on sp down to the low-mid 20s? or do we think impact on sp will be minimal? itās something thats not been talked about as i think everyone and his dog is expecting a good result from scallywag.
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With pi sentiment on this stock I definitely think a miss on scally would see a large sell off initially. In theong run though. Even with just valuing the havieron asset, to me, the current share price is a good entry
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yes i believe in the long run the price will continue to grow just on havieron alone and on the bright side a big sell off on scally news could provide us all a new entry point at bargain prices. of course iām hoping for good news on scally but it would be some consolation none the less. good luck to all
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I first became aware of GGP on the FT twitter post of top buys in the week and started researching. There is a lot of info and disinfo out there, but if you are on twitter and interested in GGP then I suggest looking at a guy called @paddygall1. His research has gone places I wouldnāt have thought to look including satellite imagery where he sources pictures of the same spot over different time periods and then demonstrates where drilling has occurred or a camp/road has been added. Also looks into the grant of permits/permissions from the mining authorities and job sites for workers.
On Havieron one of his posts on LSE posited this which makes for pleasant reading for shareholders:
"We know they used an overall tonnage of 54Mt to assess the MRE so why donāt we work backwards from there to get a rough idea of the dimensions of the deposit that they would have used.
So if we divide the 54Mt by the specific gravity figure of 3 it will give us the cubic metres - this works out to 18,000,000m3.
The cubed root of 18,000,000 is roughly 262 so we can surmise that they assessed an area of 262 x 262 x 262 in order to come to the MRE. Now we know that the ore-body dimensions have been widely described as roughly 650 x 350 x 1000 - if you work that out it is over 12 times the size that was included in todayās MRE.
I will happily admit that the higher sulphide grades were used in the MRE and we wouldnāt expect to see the same average grades of 2g/t Au & 0.31% Cu across all of the ore-body but it clearly shows the potential that Havieron still has and this size above doesnāt include for any extensions due to the Eastern breccia, any extensions to the NW and any more extensions at depth where it is still open."
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Yep you are correct that SP change in-between the rebalance dates does not really change things. But the key thing here is that the index gets rebalanced every 3 months. It can be considered as a new index every 3 months and most of the time it will only result in very small changes. This is an exception.
So when they first bought in September we were balanced at 0.66% (based on SP early September), because our market cap outperformed the rest of the index we moved up to 0.90% without the fund buying more between September and now.
Now the rebalance (based on Wednesday SP) will increase our weighting will rise from 0.90% to 1.65% this week - which results in a $40 million buy
The deletion of Kinross, has made only a limited difference (maybe 0.1%), it really our increase in market cap compared to the last rebalance date in September which has driven this new large buy.
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Someone has deep pockets buying Ā£2.7M
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Gervaise Heddle is leaving Greatland Gold in March 2021
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I wonder how the market will react to this news. Gervaise has done a great job to this point and a lot of the PIs on other boards seemed to really trust him.
Itās down 8% as of 08:31
Itās climbing back up pretty quickly and is -2.3% now and will likely mean the iiās will be snapping up the cheap shares they want
I expect itāll come back okay. Lots of takers for the shares and some with very big pockets compared to me 
Yes, itās a bit of a surprise. Just watched an interview with him and the new CEO Shaun Day. Gervaise saying itās a skillset thing as the company transitions to producer from explorer. Shaun has a good rep in that further development of a company. Will be interesting to see if Gervaise goes to another explorer next year.
Share price has dipped but thereās the Ā£30m buy this week for GDXJ so Iād doubt itās down for long. The gold and copper is still there, plus there is strong upside on other properties yet to come.
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Link to the interview if anyoneās not seen it https://www.proactiveinvestors.co.uk/companies/news/936523/greatland-gold-s-incoming-ceo-says-2021-will-be--pivotal-year--as-it-sets-path-to-free-cash-flow-936523.html
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Itās D-day for the GDXJ buy-in.
Had a fairly steady rise all week but seems to be springing into life today (and some yday).
Interesting to see what the after hours sale to GDXJ will go through at (and the probable drop in SP Monday morning).
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Does anyone know what caused this:
2 sell limit orders entered a couple of hours ago
Order A: sell x shares at 0.355 or better
Order B: sell x shares at 0.3535 or better
- the number of shares order A > order B.
Order A executed a little after 4PM and order B never executed.
Any idea why the order at 0.3535 didnāt move up the queue in front of the 0.355 order?