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Golden Prospect - Mining focused merchant bank

November 2005

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • GOL
  • Price:
  • 44.75p
The front page of the Financial Times on 24 October highlights how investment banks have made terrific gains from the commodities boom. One emerging pure play in the sector is AIM-listed Golden Prospect (GOL; 44.75p), albeit not by its original design. The group was set up some years back by former stockbroker and FT journalist Malcolm Burne, as an investment company in the mining sector with some oil & gas interests. The problem with that business was a persistent discount to net asset value and a clear succession problem so Burne finally threw in the towel on that strategy. The turning point was the acquisition in 2004 of Ambrian Partners, a private company founded in 2002 by Tom Gaffney, a former director of metals & mining at ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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