My 1st Bagger.. GMC - Gulf Manganese Corp

Just had a change of heart for the time being, took $100 profit so didn't lose.
wanted to pool funds together for A3D when it lists tomorrow and didn't want to sell GMC.

really think GMC has just as good prospects then any other mining company even after 6 bags, @ 2.2c it's really just the start if you take into account the $10m investment recently made, I think it's going to be 10c by x-mas.

One question, GMCO which are options went up today like 41%
what are options? I notice people asking about the date which is april 2019, what is the significance of this date? what will happen?
I really don't understand this side of it so would appreciate a basic lesson.
 
miniroo said:
Just had a change of heart for the time being, took $100 profit so didn't lose.
wanted to pool funds together for A3D when it lists tomorrow and didn't want to sell GMC.

really think GMC has just as good prospects then any other mining company even after 6 bags, @ 2.2c it's really just the start if you take into account the $10m investment recently made, I think it's going to be 10c by x-mas.

One question, GMCO which are options went up today like 41%
what are options? I notice people asking about the date which is april 2019, what is the significance of this date? what will happen?
I really don't understand this side of it so would appreciate a basic lesson.
Click to expand...


options are not a share. They are the entitlement to buy a share at a given date and given price.

For example ( and this is made up) xyz a mining company gives out a million options when they do a capital raising. they call these xyzo ( the o stands for options). they expire in november 2019 and cost 5 cents to exercise ( sometimes called the strike price). In november 2019 if xyz share price is 1 dollar you give the company 5 cents for every option you own and they give you an xyz share. ( you have exersised the right to convert your option into a share).

if the company is only worth 4 cents ( in november 2019) your options are worthless ( as it costs more to convert than to buy shares on market). Normaly options trade at the share price minus the strike price.

the benefit of trading options is that they can increase much more in percentage value than shares can.

the downside is that they are not a share and expire. trade them carefully but they can be very profit worthy.
 
Scooped up 800,000 @1.9c on Tuesday, see how things go. It shouldn't have a problem heading north once approvals/licenses are in the pocket and Pak goes through with his $10 million investment.
 
Yeah it's a good one, I might get more if I take some profit off A3D as like you say, once that money comes through which means the permits approved is when it's going to 5c, couple weeks, then watch it go to 10c
 
nickybaby said:
miniroo said:
Just had a change of heart for the time being, took $100 profit so didn't lose.
wanted to pool funds together for A3D when it lists tomorrow and didn't want to sell GMC.

really think GMC has just as good prospects then any other mining company even after 6 bags, @ 2.2c it's really just the start if you take into account the $10m investment recently made, I think it's going to be 10c by x-mas.

One question, GMCO which are options went up today like 41%
what are options? I notice people asking about the date which is april 2019, what is the significance of this date? what will happen?
I really don't understand this side of it so would appreciate a basic lesson.
Click to expand...


options are not a share. They are the entitlement to buy a share at a given date and given price.

For example ( and this is made up) xyz a mining company gives out a million options when they do a capital raising. they call these xyzo ( the o stands for options). they expire in november 2019 and cost 5 cents to exercise ( sometimes called the strike price). In november 2019 if xyz share price is 1 dollar you give the company 5 cents for every option you own and they give you an xyz share. ( you have exersised the right to convert your option into a share).

if the company is only worth 4 cents ( in november 2019) your options are worthless ( as it costs more to convert than to buy shares on market). Normaly options trade at the share price minus the strike price.

the benefit of trading options is that they can increase much more in percentage value than shares can.

the downside is that they are not a share and expire. trade them carefully but they can be very profit worthy.
Click to expand...
I read somewhere that if you sell options before expiry date, you need to have the same amount of ordinary shares to provide to the buyer when they convert options to shares. Is this correct? What if the person you sell to then sells them at a later date before expiry to another person?
I will have to look into options a little deeper, considering getting GMCO but best to understand option process completely before purchasing.
 
LovingtheSilver said:
nickybaby said:
miniroo said:
Just had a change of heart for the time being, took $100 profit so didn't lose.
wanted to pool funds together for A3D when it lists tomorrow and didn't want to sell GMC.

really think GMC has just as good prospects then any other mining company even after 6 bags, @ 2.2c it's really just the start if you take into account the $10m investment recently made, I think it's going to be 10c by x-mas.

One question, GMCO which are options went up today like 41%
what are options? I notice people asking about the date which is april 2019, what is the significance of this date? what will happen?
I really don't understand this side of it so would appreciate a basic lesson.
Click to expand...


options are not a share. They are the entitlement to buy a share at a given date and given price.

For example ( and this is made up) xyz a mining company gives out a million options when they do a capital raising. they call these xyzo ( the o stands for options). they expire in november 2019 and cost 5 cents to exercise ( sometimes called the strike price). In november 2019 if xyz share price is 1 dollar you give the company 5 cents for every option you own and they give you an xyz share. ( you have exersised the right to convert your option into a share).

if the company is only worth 4 cents ( in november 2019) your options are worthless ( as it costs more to convert than to buy shares on market). Normaly options trade at the share price minus the strike price.

the benefit of trading options is that they can increase much more in percentage value than shares can.

the downside is that they are not a share and expire. trade them carefully but they can be very profit worthy.
Click to expand...
I read somewhere that if you sell options before expiry date, you need to have the same amount of ordinary shares to provide to the buyer when they convert options to shares. Is this correct?

Incorrect the option is with the company, you as an individual do not supply the share the company does

What if the person you sell to then sells them at a later date before expiry to another person?

They are entitled to, the new owner has the option to buy the share from the company. The previous owner now does not have that option to buy the share. At no point is the owner to provide the option to buy a share.

I will have to look into options a little deeper, considering getting GMCO but best to understand option process completely before purchasing.
Click to expand...


I will give an example of an option I recently purchaced and sold and explain why.

I bought byro a few weeks back at about 2.0 cents per option. ( Options are like stocks and shares in that you trade them on your platform). ( the byro strike price was 5 cents and expires in jun 2017). I bought them as i was expecting decent drill results to shoot the main stock price up a cent or two.

The main stock price went up 1 cent from 7c-8c. The option price went up from 2c to 3 cents. ( options normally trade at the share price minus the strike price. some may not trade at this so carefully research the strike price before you buy) I sold to lock in a 50% profit.

I was expecting positive drill results. The reason i bought the options vs the main share was i was trading the jump in price. a 1 cent jump from 2-3 is a lot bigger percentage gain than from 7-8. ( glad i don't still hold as the drill results were shocking and now trade at 1.2 cents)

Options are benifical for trading the spike in a price as the percentage gains are better. They are also good if you want the option to buy a large volume of share in a company but don't have all the funds avaliable at that time. ( you just convert when you do have the funds).
 
Okay cheers, that cleared it up. Good point in last paragraph, I think I will do that next time. Buy options so I can get more 'shares' for my buck then pay the little extra later down the track when I convert.
 
LovingtheSilver said:
Scooped up 800,000 @1.9c on Tuesday, see how things go. It shouldn't have a problem heading north once approvals/licenses are in the pocket and Pak goes through with his $10 million investment.
Click to expand...

$2400 in 3 days, or 3kg of silver added to your stack, you too are gonna need a bigger boat.
 
Let's hope so :) I grabbed 85,000 GMCO's this morning also, had a bit of change left over in my trading account so thought I should put it to work.
 
All I had to spend today was enough for a cheap bottle of bourbon and 2 packs of chips.

So you went ahead with options hey? Guessing it was 1.6c this morning.

Hey, what's a sophisticated investor?
I know i'm not, sitting here in moccasins and tracky dacks drinking jim beam and stuffing my face with chips, but why are they called that, who are they?
 
No, 1.6 line got wiped just as I was putting order through so I ended up with 1.7
Don't quote me, but I think a Soph is someone who has at least $250000 or a certain net worth that is verified. Someone posted that on Hotcopper a while back so not sure if correct or not.
A Soph could also be a family member or best mate who gets a pile of discounted shares/free options just before drilling campaign, company making announcement, etc
 
LovingtheSilver said:
No, 1.6 line got wiped just as I was putting order through so I ended up with 1.7
Don't quote me, but I think a Soph is someone who has at least $250000 or a certain net worth that is verified. Someone posted that on Hotcopper a while back so not sure if correct or not.
A Soph could also be a family member or best mate who gets a pile of discounted shares/free options just before drilling campaign, company making announcement, etc
Click to expand...

http://www.investopedia.com/terms/s/sophisticatedinvestor.asp

oh dear. Internet.
 
scrooged said:
LovingtheSilver said:
Don't quote me, but I think a Soph is
Click to expand...

So we won't.

Biggest pile of sh*t I think I've read on this site. And I've read some sh*t.

Piles of it.
Click to expand...
I doubt that very much.
By saying "don't quote me", that already implies that I'm not sure and talking off the cuff. I could've tried to make myself look like a know all, googled and then wrote but chose not too.
I was close here:
Typically, a sophisticated investor must have either a net worth of $2.5 million or have earned more than $250,000 in the past two years to qualify.
And here regarding verification:
Sophisticated investors may have to prove their net worth prior to being eligible to purchase certain security types. Investors will often have their personal accountants send this proof to the brokerage firm.

And the last paragraph was a joke, in case you failed to recognise.
 
LovingtheSilver said:
scrooged said:
LovingtheSilver said:
Don't quote me, but I think a Soph is
Click to expand...

So we won't.

Biggest pile of sh*t I think I've read on this site. And I've read some sh*t.

Piles of it.
Click to expand...
I doubt that very much.
By saying "don't quote me", that already implies that I'm not sure and talking off the cuff. I could've tried to make myself look like a know all, googled and then wrote but chose not too.
I was close here:
Typically, a sophisticated investor must have either a net worth of $2.5 million or have earned more than $250,000 in the past two years to qualify.
And here regarding verification:
Sophisticated investors may have to prove their net worth prior to being eligible to purchase certain security types. Investors will often have their personal accountants send this proof to the brokerage firm.

And the last paragraph was a joke, in case you failed to recognise.
Click to expand...

The irony is, someone who follows the market as meticulously as yourself isn't considered sophisticated, yet flogs earning an paltry 125K pa (verified) are all of of a sudden Soros?

Wakey wakey.
 
I was asking in this thread because I only needed a simple answer, which is what I got so thanks LT, I got the gist of it, it's mostly related to high income investors.

interestingly to be a wholesale investor you need 10m in assets, i googled it :)

So technically I qualify as a wholesale investor, I have 1000oz of silver and I believe it's true value is $10,000 oz
 
miniroo said:
I was asking in this thread because I only needed a simple answer, which is what I got so thanks LT, I got the gist of it, it's mostly related to high income investors.

interestingly to be a wholesale investor you need 10m in assets, i googled it :)

So technically I qualify as a wholesale investor, I have 1000oz of silver and I believe it's true value is $10,000 oz
Click to expand...


miniroo said:
silver is done and dusted, it's all about selling now, if you think we will see $45+ silver again your delusional.
Click to expand...



With all due respect Miniroo, I'm sure you can appreciate how f*cking annoying you are?
 
you really need to chill out man, you can't see humor at all, don't take things so seriously, you'll have a break down.
but if I annoy you then that's a bonus.

bumbum.gif
 
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