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.
Agree, it's absolute madness to sell Ricca shares just because HL don't list ASX stocks. Just move them to another platform.
It's also worth noting that there is a 99.9% probability that all spin off shares will be subject to a 1 year lock in. This will ensure an orderly market in the shares (imagine everyone dumping on day 1) and will provide plenty of time to sort things out with a new broker etc. I hold IRR with both HL & II, I plan to migrate the Ricca shares post IPO once I have the share certificate. It'll probably take a while but we'll have time.
For what it's worth, I also think ASX is a far superior exchange to LSE with regard to mining shares. It's embarrassing to see how few PI's, never mind II's, are even aware of IRR at present.
Cyfalafwr
I'd urge you to consider another broker for your Ricca Resources shares if HL are unable to accommodate.
ASX is a well known market in this space and it's pretty ridiculous if one of the major platforms in the UK don't have a custodian in the region.
You have to bear in mind as well how little recognition IRR have had from the London market despite announcing a promising starter resource along with some fantastic economic forecasts in the scoping study and some great follow up drill results. Oh and then there was the tie up with Piedmont funding us until production of that clean spodumene concentrate.
If you don't believe me then I'd urge you to look at some of our lithium peers listed on the ASX and how well they have done with similar or weaker fundamentals.
The grass isn't always greener over here. In fact, in IRRs case I would say it definitely isn't. AIM is full of spivs who are only interested when there's a discounted raise going with warrants attached. True story.
I also hold my IRR shares in a self select shares ISA with HL. Does the company know that they will be ****ing off a load of shareholders if they list the gold shares on ASX. I am considering selling my IRR shares just before demerger and then buying back into the new lithium company when listed.
I too currently rely on HL who don't deal with ASX but It looks like IG is a good platform for holding or trading ASX shares. Prima facie the Ricca ASX shares would qualify to be held in an ISA with IG. I think I would keep my IRR shares in my HL ISA until a bit nearer the time of demerger and then open an IG ISA and transfer them into it. That requires ISA transfer rules to be followed (must transfer full year's ISA not part and not withdraw it oneself but formally request transfer).
Not sure... its a question I'd like answering as I use iweb.
And then there's the added complication on how they're treated in sipps, isas etc. Also for cgt calculations how do value these new free delisted shares on disposal?
Vincent hints that Ricca shares will be listed on the Aussie stock exchange some time next year. Can anyone suggest how that will work for Hargreaves Lansdown customers, as I don't believe you can hold /deal ASX shares on their platform.
Suspect we won't be staying at these levels for much longer - fundamentals just got even better (if that's possible) with confirmation that investors who get free shares in Ricca and take the rights issue at 10c will at a minimum double their money / quadruple their overall position on a 2022 ASX listing. The A$7m of funding being provided also makes complete sense, why spend money on something that isn't being attributed any value by the market? Very astute management here that are executing on a well planned strategy, impressive stuff.
That's what I wanted to hear, happy with that and will build my position
That's what I wanted ??....happy with that and will build my position here