GMI - Global Mining Investments

[shasta]

Having bought into GMI at 73c, i thought it high time to post a little on why i bought into this diversified mining fund. (Current SP 90c)

Fundie stuff...

Currently on a P/E of 4.7, NTA is currently $1.01

Pays a dividend based on the companies it holds...

As at 31/1/09 - GMi's main holdings were in...

BHP - Diversified
Vale - Diversified
Impala Platinum - Platinum
Newcrest Mining - Gold
African Rainbow Minerals - Gold
Anglo American - Diversified
GV Gold - Gold
Minas Buenaventura - Gold
Rio Tinto - Diversified
Eramet Sln - Nickel
Iluka Resources - Minerals Sands
Peter Hambro Mining - Gold
Petmin Limited - Platinum
Xstrata Plc - Diversified

Basically GMI captures the resource market, & provides upside to the eventual resource recovery, china is already buying aussies assets on the cheap, & globally consolidation is a given...

TA wise..

http://www.directbroking.co.nz/cgi-bin/sparkle.dll/superchart?template=dblsuperchart&session=0&instrument=GMI&exchange=ASX&period=6M&adj=yes&vs=LINE&ct=CANDLE&compi=&ma1=30&ma2=90&bb=&ind=MACD&ra=2

Fair value for me is around $1.25, thus it makes the Shasta stable of undervalued companies

[impacman]

Well done on that one Shasta. I have been watching it since you flagged its potential a month or so ago and am kicking myself for not jumping in around the 75c mark - thats life I guess. I have also been watching AIX and it seems to be heading in the right direction as well - not sure whether you have got into that or not. May be a bit late but I would still consider entering on a retrace - will probably be like my AOE retrace theory.:rolleyes:

[Corporate]

Good buying Shasta. Where do you get your NTA figure of $1.01 from?

On OEL - I've been watching them for a while, but didn't know you were still interested. Things seem to be falling down around them....farmout problems on SC55, cap raising....why the interest now?

[shasta]

Good buying Shasta. Where do you get your NTA figure of $1.01 from?

On OEL - I've been watching them for a while, but didn't know you were still interested. Things seem to be falling down around them....farmout problems on SC55, cap raising....why the interest now?

I got the NTA off ASB Sec, may not be up to date, but GMI is certainly trading below it's NTA.

As for OEL, the Turkish gas assets are coming online soon, Galoc is still producing & they have raised more cash...

The SP has factored in all the bad news & seemingly forgotten the direction the company is taking.

I also think the Santa Rosa project in Argentina could be huge...

[STRAT]

Hi Shasta,
did you time this entry with TA?
I show a number of indicators firing around the timing of your entry point. Phaedrus would be proud of you :D

[shasta]

Hi Shasta,
did you time this entry with TA?
I show a number of indicators firing around the timing of your entry point. Phaedrus would be proud of you :D

With the help of candlesticks, yes i tried to enter GMI using them.

I have a lot yet to learn however...:rolleyes:

[Corporate]

8% drop today. Any reason for this or just in anticipation of another dire night on the dow?

[shasta]

8% drop today. Any reason for this or just in anticipation of another dire night on the dow?

BHP was down (GMI's largest holding), & GMI has crept up from 73c to 90c in a short space, so a retrace was likely.

I'm not trading GMI, so i'm not too concerned...

GMI will start buying back some more at this price i'm guessing?

[shasta]

BHP was down (GMI's largest holding), & GMI has crept up from 73c to 90c in a short space, so a retrace was likely.

I'm not trading GMI, so i'm not too concerned...

GMI will start buying back some more at this price i'm guessing?

GMI - NTA = $0.96 + Updated Investment list :)

http://www.stocknessmonster.com/news-item?S=GMI&E=ASX&N=316535

Slightly up today +3.5c to close 84.5c

Still holding ;)

[Crypto Crude]

hey shasta,
Ive looked at GMI...
looks like a good sensible solid play...
what is the advantage of holding GMI, compared to going out, and buying some shares in BHP, some in RIO and so forth...
cant you create your own portfolio?
:cool:
.^sc

[shasta]

hey shasta,
Ive looked at GMI...
looks like a good sensible solid play...
what is the advantage of holding GMI, compared to going out, and buying some shares in BHP, some in RIO and so forth...
cant you create your own portfolio?
:cool:
.^sc

Of course i can, you know that!

Just not with a system that allows max 5 stocks at any time, & besides GMI gives me exposure to all the global majors, across all metals.

The recovery will start with the majors, & i expect alot of consolidation before the recovery, with the likes of BHP snapping up cash strapped producers/near producers.

BHP, RIO, Vale, Xstrata - there's some grunt in the portfolio!

[Huang Chung]

Just not with a system that allows max 5 stocks at any time, & besides GMI gives me exposure to all the global majors, across all metals.



Shasta....why do you stick to your 5 stock rule, when, in a sense, GMI gives you exposure to 14 stocks (as they have no mining operations in their own right).

So it seems you are (directly or indirectly) exposed to at least 18 stocks.

[shasta]

Just not with a system that allows max 5 stocks at any time, & besides GMI gives me exposure to all the global majors, across all metals.



Shasta....why do you stick to your 5 stock rule, when, in a sense, GMI gives you exposure to 14 stocks (as they have no mining operations in their own right).

So it seems you are (directly or indirectly) exposed to at least 18 stocks.

Yup you said it, indirectly. (BTW the 14 stocks mentioned are just the main ones!)

GMI covers the resource sector for me.

SIP is my heathcare play

NZO is my energy play

Mini diversification if you will. I track so many companies at one time, i can't really keep up with more than 5, knowing them inside out.

[Huang Chung]

To take that line of thought a bit further, just buy Argo and you could cover almost every sector on the ASX with just one stock.....

[shasta]

To take that line of thought a bit further, just buy Argo and you could cover almost every sector on the ASX with just one stock.....

I looked at Argo, but not "cheap" enough compared to it's peers...

I could just buy BHP i suppose?

GMI does receive dividends from the companies it invests in & does pay them out to utilise the franking/tax credits.

The majors are still making money in this "recession", just not as much as during the mining boom.

Besides i have 2 available slots left ;)

[shasta]

I looked at Argo, but not "cheap" enough compared to it's peers...

I could just buy BHP i suppose?

GMI does receive dividends from the companies it invests in & does pay them out to utilise the franking/tax credits.

The majors are still making money in this "recession", just not as much as during the mining boom.

Besides i have 2 available slots left ;)

I believe FEA are an extremely undervalued company, & therefore i sold out of GMI today at an av. 91c (~25% profit), to buy into them.

GMI was a bit too passive really, still like the company but have other targets.

May relook should it dropped below 80c again

[STRAT]

I believe FEA are an extremely undervalued company, & therefore i sold out of GMI today at an av. 91c (~25% profit), to buy into them.

GMI was a bit too passive really, still like the company but have other targets.

May relook should it dropped below 80c againI was thinkin GMI was lookin good Shasta. Been in an uptrend since Nov which excellerated in early March while FEA is going sideways.


By the way whats the deal with the GMI share buy back Shasta?

[shasta]

I was thinkin GMI was lookin good Shasta. Been in an uptrend since Nov which excellerated in early March while FEA is going sideways.


By the way whats the deal with the GMI share buy back Shasta?

Yeah, but a profit is a profit in this market & i changed my mind.

The buyback was the Mgmt/Board's discontent with the SP discount to NTA.

GMI has to cash to do it (& has recently re-aligned its portfolio, so may have surplus funds).

As for FEA, i told you about ALS @ $1.00 & look what happened :eek:

[JBmurc]

The buyback was the Board's discontent with the discount to NTA.

GMI has to cash to do it (& has recently re-aligned its portfolio).

As for FEA, i told you about ALS @ $1.00 & look what happened :eek:

FEA ? forest owner low P/E personal like GMI better but haven't really looked to close at FEA you should start a thread with the pros V's cons shasta would love to know why it has 400%+ growth potential

[shasta]

FEA ? forest owner low P/E personal like GMI better but haven't really looked to close at FEA you should start a thread with the pros V's cons shasta would love to know why it has 400%+ growth potential

I shall do soonish...

[Corporate]

I shall do soonish...

Looking forward to it Shasta!

[shasta]

Looking forward to it Shasta!

GMI - March Quarterly

http://www.stocknessmonster.com/news-item?S=GMI&E=ASX&N=317556

Market liked it & finished up at 96c.

But i'm looking for companies that will return me 100% inside 12 months.

Mind you 25% profit in a passive LIC for a month isn't to be sneezed at :D

[shasta]

GMI - March Quarterly

http://www.stocknessmonster.com/news-item?S=GMI&E=ASX&N=317556

Market liked it & finished up at 96c.

But i'm looking for companies that will return me 100% inside 12 months.

Mind you 25% profit in a passive LIC for a month isn't to be sneezed at :D

Keep looking for a cheap diversified miner & keep coming back to GMI. :rolleyes:

Am buying back in, there big exposure to gold & other precious metals should see them do well, & they have all the metals covered ;)

[JBmurc]

Keep looking for a cheap diversified miner & keep coming back to GMI. :rolleyes:

Am buying back in, there big exposure to gold & other precious metals should see them do well, & they have all the metals covered ;)

Have alook at CFE shasta ,put a few mates onto them recently with the copperco buyout CFE will have interests in Gold ,plat,copper,zinc,lead,Iron ore and best of all for about 10% of what the market valued the interest at a year ago...also a nice 70mill+ in the bank

[shasta]

Have alook at CFE shasta ,put a few mates onto them recently with the copperco buyout CFE will have interests in Gold ,plat,copper,zinc,lead,Iron ore and best of all for about 10% of what the market valued the interest at a year ago...also a nice 70mill+ in the bank

Will do, CUO bought the MXX assets dirt cheap, althought there were some rats & mice in there.

Interesting looking company ;)

[voltage]

price 1.10 and NTA 1.18 cannot understand why this fund is near NTA when LRF another fund with resource mix is priced at 59c with NTA at 93c

[shasta]

price 1.10 and NTA 1.18 cannot understand why this fund is near NTA when LRF another fund with resource mix is priced at 59c with NTA at 93c

Voltage - i see your post re commodities & thought id bump the thread

I do not hold any GMI at present

Current SP $1.36 & short term chart looking good

[shasta]

GMI - Presentation (Good overview of the resource sector as well)

http://stocknessmonster.com/news-item?S=GMI&E=ASX&N=357739

Pays dividends & gives exposure to not just BHP & RIO, but also there overseas competitors, Vale, Xstrata & the like

[Jay]

Percy - you still got some of these

Looks like they are to turn it into a Managed Fund type investment rather than listed variety - any thoughts
However have the option to get out at NTA/NAV or close to it
-Notice the price jumped up as well - now sitting at 99c
Current NTA (they say) is $1.12
Will not happen until around August/Sept.

May pay to keep an eye on the SP and the NTA

If I sell out - then what is around that is similar??

[OldRider]

The move into a managed fund has positives and negatives as I see it.
When the fund manager sets the price using NTA as the base and redeems units
directly, the need arises to be more liquid holding extra cash to meet redemptions.
This reduces the growth opportunity of the trust, further downside is that if redemptions
get too large the manager usually has the right to suspend them, so unit holders can become
trapped with no way to turn any value into cash. If the redemptions are maintained assets need to be sold
at low prices to get cash.

For myself, I am more in favour of the company structure, preferring to be able to trade these investment companies,
buying when they are below NTA, selling when they are higher, having myself the choice what to do.

If the deal goes through I will take the one off price rise and get out.

What to replace them with is a dilemna, probably direct holdings.

[Jay]

Thanks Oldrider, sorry got you mixed up with percy!

My thoughts to - as I mentioned will monitor the sp a little more closely and may get out before if possible.

[Joshuatree]

Guys from my murky hemispheres comes the name,yes ,can just discern it now, Blackrock global mining fund or some such; it may be a vehicle worth looking at,or not. Bailed out of GMI many years ago myself. cheers