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driftking27 2016 is very much 'on watch' having cashed in most Equity and Bond investments leaving the long term IT portfolio for income in place. The weightings are distorted by date of purchase and performance, with a high proportion held in our two ISAs. BRCI was our most recent joint purchases getting in just under 55p in a year where we have mainly been reluctant buyers except for trading in dips. We have an unusually high cash position.
Blimey that was fast with response! Haha Weird, I don't even see my last reply, though you obviously can. Think its an IT glitch...haha I usually use morningstar.co.uk for data and factsheets. I'm 99% sure will be adding more MYI, start holding in JEMI and possibly CTY or BRCI? What are your average weightings with your IT's? And which two are on your conviction list for 2016? Thanks again...
driftking 27. Warren applauds sound dividends and the ITs you are looking a,t have currently : AAIF 5.443% CTY 4.4358% BRCI 12.12% MYI 6.1766% Bonds are at the top of a bull run perhaps, Commodities nearing the bottom perhaps ? BRCI may or may not sustain a full 12 percent dividend either because the big oils/miners cut theirs, in which case the current oversold price of 55p may be justified or because the share price strengthens as commodity prices bottom out as we move forward ? Yes I was born when "White Christmas" was the Christmas song of the year, so my view is cautious overall ! A very happy New Year
driftking27 We are both fans of Warren Buffet I think. With regards to Bonds, they have been in a long term Bull market. Look at the pathetic yields take US Treasuries : 2 year 1.1% 5 year 1.8% 10 year 2.3% 30 year 3.0% What did Warren say earlier this year : "If I had an easy way, and a non-risk way, of shorting a whole lot of 20- or 30-year bonds, I'd do it," Of course he is right, these eye wateringly low rates cannot be long term sustained. They are grossly overvalued imo
Had a quick look and think be first glance I might take a position in 3 of AAIF( one I looked at 3yrs ago but didn't buy ), CTY, BRCI & MYI. CYN does have the biggest discount, but over 5years looks bad going forward into a possible bearmarket? 10yrs looks better. Will wait until mid January to see what happens with US earnings season and maybe hear more about the colossal RDSB & BG deal. Many thanks.
Hi Kulabkhan, Thanks for your reply. I have considered the resignation of Pollock and happens to every company at sometime, just have to hope its the right replacement? I'm 35, so my view might be a bit different in terms of risk aversion? I'd say I'm medium _ high risk. I'm buying 2 or 3 stocks, be it top up or new one/s. I'm tempted to top up MYI, and buy here and possibly either one of AAIF, CYN, SHRS or JEMI. Just going to check discounts to NAV and such. Would you stay clear of 'funds' with portfolio's of bonds included now like the one I mentioned? Big thanks. Happy New Year and hope you haven't been affected storms of the last fortnight! Storm Desmond has just hit us early this morning, and thank god I got home from my B'Day party before storm started at 4am.
driftking27 Not easy at the moment, with low interest rates and bond yields, neither appeal. At my age criteria are safety Ah Ah ! some growth and good dividends. Ah Ah Ah ! These days selection and timing seem ever more crucial, bought into CYN and BRCI on basis of commodity rout will be overdone and agree your view BRCI dividend. Do like Investment Trusts myself and have an IT income portfolio CYN BRCI AAIF CTY EAT ECWO EDIN HFEL JEMI JFJ PEW PHP PLI SDV SHRS SLET TMP UKCM primary purpose regular dividend flow and lower risk. Have cashed up the majority of ordinary shares and bonds awaiting better investment opportunity. Newton Asian Income under new manager following resignation Jason Pidcock but no doubt you have considered that already. Hope you have excellent New Year
That is the conundrum that is investing!! I hate it when this happens, know one knows where/when the catastrophy is going to end. Thus as this sector offers, and has always offered one of the best incomes its hard to know what to do when one has sold stocks in other sectors and wants to make their money work again _ risk free (haha)... If you were to invest now and let's say the dividend were to be chopped in half its still a good investment with future growth in the stocks they hold, Chevron, Exxon, RIO, Shell to name some. Could I have some views if anyone has any on buying funds over IT's that hold both Bonds and stocks like AXA Global High Income (6.91% yield). I also have my eye on Newton Asian Income(5.5%). Would be good to have views on what others hold in IT's and Funds. Merry Xmas and Happy New Year. I hold; MYI MUT TEM FRIC ALAI Threadneedle Glb Inc Newton Glb Inc My aim is to derisk from the number of stocks iv got and put into IT's and Funds. I have 32+10 AIM stocks. P.S I'm a young one(haha), who picked up a book about Warren Buffet when I was 20 and caught the bug...
Hi, My view is that I see the dividend being held unless RIO, RDS & BP cut there dividends next year if economics worsen. Holdings 30/09/2015 % of Assets Rio Tinto Plc6.1 Exxon Mobil Corporation5.1 First Quantum Minerals Ltd.4.7 Royal Dutch Shell Plc4.6 Enbridge Income Fund Holdings Inc4.6 BP Plc4.3 Chevron Corp4.1 Statoil3.8 Conocophillips3.7 I'm sitting on cash and am more interested in buying IT than actual stocks less risk, so I believe. Its a watching game for me with BRCI, STS, CTY and MYI on watch list and top_up list I'd also say to have a look mid January. With the crude oil now at lowest level over last month or so, it will hurt the 3rd quarter EPS results due end of January so I'd watch month carefully. Exxon release results 4th week in Jan. Merry Xmas...
It certainly has been a shocker but at least we have some reassurance on the div to hold for recovery hopefully next year. Merry Christmas too mate.
The commodity markets have been routed to basement levels and BRCI sp reflects this. There is considerable upside potential the question is when. Meantime BRCI dividend is now at around 12 percent per annum and is likely to remain at healthy levels.so happy Christmas JM and GLA in 2016
Yes I'm quite encouraged they've looked at their own charges to help the payments, clearly if the main holdings opt for the div-cutting next year then the potential for a rebase or eating into reserves isn't ideal for the SP but the fact we've got big oils and big miners gives some spread and frankly if shell,bp etc on the former end up cutting we're all in trouble as so much institutional, pension funds etc rely on the sector for the income! GLA
Thanks for the news which good for shareholders.
BLACKROCK COMMODITIES INCOME INVESTMENT TRUST PLC - Dividend Declaration and Outlook PR Newswire London, December 16 BlackRock Commodities Income Investment Trust plc Changes to dividend declaration and outlook, management fees and periodic tender offer Dividend declaration and outlook The Board of BlackRock Commodities Income Investment Trust plc is pleased to announce that the fourth quarterly interim dividend in respect of the financial year ended 30 November 2015 of 1.50 pence per ordinary share has been declared by the Directors. The dividend is payable on 22 January 2016 to holders of ordinary shares on the register at the close of business on 29 December 2015 (the ex dividend date is 24 December 2015). The last year has been a difficult period for commodity markets and, against this backdrop, the Board is pleased to have been able to meet the dividend target for the year of 6.00 pence per share. The Board has set a target of an unchanged 6.00 pence per share dividend for the current financial year in light of current conditions in the commodity markets, volatility levels in the derivative markets and dividend prospects for the Company’s underlying investments. This target will be reviewed should there be any material change in these factors. However, the Board would consider using revenue reserves or making distributions out of capital profits to bolster the dividend were income from the portfolio to be insufficient to achieve the target. Changes to management fees The Board of BlackRock Commodities Income Investment Trust plc (the ‘Company’) announces that, following discussions with its Manager, BlackRock Fund Managers Limited (‘BlackRock’), it has agreed a reduction to its management fee. The existing management fee is 1.1% of gross assets per annum. With effect from 1 December 2015, the management fee will be 0.95% of the Company’s gross assets per annum and will reduce to 0.90% per annum for gross assets in excess of £250 million. Where the Company invests in other investments or cash funds managed by BlackRock, any underlying fee is rebated. Periodic tender offer The Board of BlackRock Commodities Income Investment Trust plc (the "Company") today announces its decision not to proceed with a semi-annual tender offer in February 2016. Over the six month period to 30 November 2015, the Company's shares traded at an average premium to Net Asset Value ('NAV') of 2.1%. Given that this is better than a discount of 2% to NAV, the price at which any tender offer would be made, the Board has concluded that it is not in the interests of shareholders to implement the tender offer as at 28 February 2016.
There's normally an announcement this time of year for an interim in the next couple of weeks. Unless their main holdings cut(which they haven't) I don't see why they should rebase and if they do I'd like to know why! GLA
Capital only NAV down to 51.71p after Friday so I guess we could easily see this sub-50 should crude continue to slide unless miners start to rally if we aren't there already. I just got a quote for 10k shares at 53.22p so we're still trading on a slight premium which is interesting given the 7.6% discount for BRWM. My average is 77p so I'm quite deep in the hole, but not yet tempted to double down for fear of crude falling to, and staying around the $30/bbl level. I also hold RDSB so double exposed to this risk.
Ouch really well bombed out. High dividend may (or may not) be cut, in meantime gives comfort so starting to buy BRCI as must be approaching the bottom of the trough.
Capital only NAV down to 54.21p today. On one side, miners getting slaughtered, oilers getting hammered on the other. Not even tempted to top up at the current premium. Someone let me know when it's safe to come out from under my bed.
http://tools.morningstar.co.uk/uk/cefreport/default.aspx?SecurityToken=F000000EYO]2]0]FCGBR$$ALL
they may well cut the divi but most of the big miners and oilers have been battered on their sp , im not sure they will fall that much more but these are very volitile times i grant you that so anything could happen gla.
I think your wrong on divvy all income less costs is distributed. I see commodities dropping much lower, this will test new lows in next 12 months and divvy will be cut . I do believe there will be a truly massive rise at some point I just think there is more pain for the sector. gla
firstly i think over a 12/18 month period this will recover to well over 100p and the divi may reduce but these type of investments tend to save a little each year in good years so they can pay a divi in a bad year. so were you have been getting 6p it could of increased to 7 or 7.5p but its held back for times like this jmo.
Roughly a third of my diversified trust dosh as it's the easiest way to tsp into the big oils and big miners, hasn't quite worked out the way I planned! They do options trading or something along with a decent wedge in enbridge income but clearly the whole commodities sector has crashed whereas you wouldn't normally see big oil and big mining crash together hence the SP drop has created a huge yield which means the SP will rise(at some point lol) or the div re-bases if the constituent holdings reduce theirs.
Mr Maggs, how heavyweight are you in here? My moist heavyweight fund / trust is MUT at 12%, closely followed by STS. I'm so undecided as the dividend is so high, highest in the entire s/market surely!!
Interesting points made and agreed the fear is the dividend coming under pressure if the big oils and miners drop theirs. Billiton always maintained its sacrosanct but with the latest issue will it be the "excuse"...hopefully not!! It would be a sad state of affairs if a diversified income trust stopped paying an income and since I'm in these somewhat higher than now I'll just sit it out.