We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
The sp shot up after a new unsolicited joint offer for Yamana was made on Friday by Pan American Silver Corp and Agnico Eagle Ltd.
This was described by Yamans as a superior offer, and the directors suggested that Gold Fields might make an improved offer. However, they continues to fully support the original Gold Fields offer.
Today Gold Fields said its board had unanimously determined that it will not change the terms of its proposed acquisition.
Yamana directors had little choice but to continue backing the lower offer from Gold Fields as to do otherwise would result in a US$300m termination fee being payable to Gold Fields.
As I understand it, share holders can choose to reject the lower Gold Fields offer without the company incurring the US$300m termination fee. So I know which way I will vote.
From today's RNS -
"Jacobina had an exceptional second quarter and delivered record quarterly production of 49,662 ounces of gold. Underground mine development work is in line with the mine plan at 1,500 metres per month to gain access to new mining panels. Together with the higher ore tonnes mined, the mine development provides additional flexibility through the build-up of ore stockpiles supporting the higher throughput of the Phase 2 expansion. Production for 2022 is expected to increase for the ninth consecutive year, a trend that is expected to continue in the coming years, as a result of the phased expansion strategy and the exploration programs aimed at generating significant value from the remarkable geological upside of the property."
"The Company's phased expansion strategy at Jacobina is well advanced and the Company anticipates that the low-cost operation will have a strategic mine life exceeding at least two decades"
What goes on with the sp? Just a few of the trades from last Friday -
0-Jun-22 19:27:32 464.76147 200 Unknown* 0.00 0.00 929.52 O
10-Jun-22 20:31:26 463.53841 884 Unknown* 0.00 0.00 4,098 O
10-Jun-22 19:30:51 464.35378 300 Unknown* 0.00 0.00 1,393 O
10-Jun-22 20:53:52 462.07075 100 Unknown* 0.00 0.00 462.07 O
464.76p? Really?
Not to disparage too much, this could be another Rangold of the future for lth? You would not want to sell in a fit and regret at leisure. Let's look at the long term, before we rush to sell, consider all the possibilities, then sell or hold as the case may be.
It seems from the rns, shareholders will have choice SA or NY listed, I would expect that to follow through to London listing.
That's OK Damo. I wasn't being critical, I was just having a moan.
Like you I was in Randgold, Kirkland Lake and TSG. It is sickening isn't it. We pick good companies and they get swiped from us.
All the best to you too.
I suspect that the termination fee would only be payable if Yamana went back on their word and pulled out of the agreement (ie: accepted a higher offer from someone else). However, I guess we won't know for sure until Q3 when they publish the merger details.
We stand to get US$450m if Goldfields pull out. That would be a fantastic outcome imo, but rather unlikely I am afraid.
"Full details of the Transaction will be included in the meeting materials of each of Gold Fields and Yamana, which are expected to be mailed to their respective shareholders in the third quarter of 2022."
"Gold Fields would be entitled to a US$300m termination fee and Yamana would be entitled to a US$450m termination fee."
Kintore tells us - "These shares were £4.70 only last month"
This site is currently showing -
Share Price: 445.00
Bid: 440.00
Ask: 450.00
Change: 37.00 (9.07%)
Who said "Bingo"? Sorry, but I don't feel as though I've won anything. In fact I feel robbed.
These shares were £4.70 only last month, the company was projecting 1.5m oz production in a few years and reading the info put out by the company on the Mara project this looked like adding significant additional value and diversity.
I am currently up 20% at £4.80 but would have held on for the long term as well.
The termination fee is quite significant for Yamana 'Gold Fields would be entitled to a US$300m termination fee' does anyone know what conditions would activate this clause?
Also does anyone know if the LSE listed shares will be convertible into the NYSE equivalent?
A counter bid would be nice, but this rarely happens when both sets of directors give their unanimous approval. This looks like a done deal to me, assuming shareholders approval.
Thanks for your opinions \ advice \ tips chaps, and I'm sure you are right about Gold Fields being a good company, but I don't fancy holding shares that are not listed on a British exchange. Just a personal preference, so I will be selling.
A lot of selling this morning has dropped the price from its opening price, so I will hang on for a bit hoping that it picks up, but my main reason for posting it to ask if you think there is any chance of a counter bid?
Obviously I pleased to see the sp jump up, but I am saddened by the news. I would rather have held on to AUY. I believed it would get to £10 per share.
"Very positive. Do you hold the LSE listed shares? If so, is there a still a withholding tax applied on dividends?"
AUY LSE listed shares are taxed at 15% whether they are in an ISA or not. And as Noel says you will not be able to reclaim any tax if they are held in and ISA or personal pension.
Sorry bobby, I am not yet awake. I forgot that I hold AUY in an ISA, and since we don't declare ISA dividends on the tax return, I doubt that I will be able to reclaim any Canadian tax, if any was paid.
Hi bobbyaxelrod. Yes, my shares (? but not exactly shares are they) are on the LSE. All I know is what the company said in the dividend declaration - the dividend is an "eligible dividend". I am just about to start on my tax return and I need to find out about Canadian tax.
Very positive. Do you hold the LSE listed shares? If so, is there a still a withholding tax applied on dividends?
Results and dividend declaration.
From the results - "The Company expects free cash flow to increase quarter-over-quarter with the strongest free cash flow generation anticipated in the second half of the year, and in particular during the fourth quarter, which is expected to result in cash balances steadily increasing throughout the year"
Just look at all those trades at above 480p - so what is the AUY share price?
But - for ZERO shares? Are they real?
18-Apr-22 14:31:26 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:31:27 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:31:29 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:31:39 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:31:43 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:32:06 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:32:14 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:32:25 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:32:28 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:32:43 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:32:56 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:32:56 485.19799 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:32:59 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:33:19 485.19799 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:33:20 485.19799 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:33:24 485.19799 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:33:25 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:33:25 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:33:35 485.19799 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:33:39 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:33:50 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:34:00 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:34:01 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:34:06 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:34:08 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:34:13 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:34:25 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:34:26 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:34:27 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:34:57 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:34:57 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:35:04 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:35:06 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:35:21 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:35:26 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:35:28 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:35:33 484.42905 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:35:33 481.35331 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:35:35 485.19799 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:36:31 485.19799 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:36:56 484.42905 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:40:22 486.73586 0 Unknown* 460.00 470.00 0.00 O
18-Apr-22 14:46:31 488.27373 0 Unknown* 460.00 470.00 0.00 O
Why is the Trades screen showing lots of trades on 18th April? Yesterday was a bank holiday and the London market was closed. Does this site include trades on the Canadian market? I doubt it, but how do you explain those trades on the 18th?
HUGE BUY -
18-Apr-22 15:56:06 478.66204 52,322 Unknown* 0.00 0.00 250.45k O
It say "unknown", but since the figures are -
Share Price: 465.00
Bid: 460.00
Ask: 470.00
Change: 5.00 (1.09%)
... I'm assuming it was a buy.
Yesterday there was a large sale at well under the Bid, and today a large buy at over the Ask.
Share Price: 455.00
Bid: 450.00
Ask: 460.00
Change: 11.00 (2.48%)
High: 460.00
Low: 450.00
14-Apr-22 14:49:16 464.50 19,684 Unknown* 450.00 460.00 91.43k O
A huge sale at a very low price - why was someone so keen to get out?
I don't know how this can says "Unknown" when the Bid is 444 and they sold at 436 -
13-Apr-22 09:26:36 436.00 25,903 Unknown* 444.00 460.00 112.94k O
Share Price: 452.00
Bid: 444.00
Ask: 460.00
Change: 0.00 (0.00%)
"Is Yamana Gold undervalued compared to its fair value and its price relative to the market?
14.4%
Undervalued compared to fair value" - from -
https://simplywall.st/stocks/ca/materials/tsx-yri/yamana-gold-shares
Lots more info on this site.
The Company will release its first quarter 2022 operational and financial results after market close on April 27, 2022, followed by a conference call and webcast on April 28, 2022, at 8:30 a.m. EDT.
Could the results send the sp higher?
After the market closed - " High: 451.00 " - but -
05-Apr-22 16:38:18 455.00 10,000 Buy* 440.00 450.00 45.50k O