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I think the hedging has been quite costly, but at least its completed now, as I believe the hedge ran until 31/12/20, as you say the rand exchange worked against us during this period, but I suppose its swings and roundabouts, and nothing can be done about it . Only a few weeks and all will become clear, all in all assuming the gold price plays ball, the second half should be very profitable.
$19m dividend + big increase in tax (in fact they were utilising previous years losses last year). I would agree it seems odd that it has actually increased a little but can only assume they drew down on loans to fund the new solar project. The dollar weakness appears to have reversed since year end and will probably stabilise in the coming year. All this is conjecture until we see the HY report laid bare
Biden is set to unveil $1.9 trillion Covid relief plan including $1,400 cheques for most Americans
Joe Biden has unveiled a $1.9 trillion Covid relief plan that includes $1,400 checks for most Americans as he prepares to boost the government’s pandemic response, writes Graeme Massie.
The huge financial package includes $400bn to directly combat coronavirus, accelerate vaccinations, and reopen closed schools within 100 days of its passing.
Mr Biden’s American Rescue Plan will also include $1,400 direct stimulus payments, and $350bn to help state and local governments cover funding gaps brought on by the pandemic.
The USD is rallying in response similar to what happened in March last year when gold took a tumble before rising some $600 off its base. Will commodity prices benefit in the immediate aftermath or further down the line this time, difficult to say.
Very True. I ended up with a few bad mining shares after that commodities boom in 2011/2012. I lost a load on Weatherly when it finally went bust, and currently have RMM and GAL, dogs festering red in long term drawer.
Wow. Well done for holding since 2011, even better if you had some dividend reinvestment. Prompted me to look through my trade history. 10,222 shares for 500 quid in 2009 was my first PAF holding,. Not a good list to look at. To many 'If only' thoughts.
I think we should hit 40p ish soon, I think... (that will be a high) depends on gold and the dividends ,but we are making money and results are a month away, should be record results. I think the only way is up.
guys i inested back in 2011 when it was 5 p and then got out a week later after making some profit i thought gold was volatile and now im stupdily investing in bitcoin - and they say its is a hedge against inflation i think this is more protections against inflation and i wish i had left my investment from 2011 - do you guys think long term it has more way to go - its also a safer investment
RE: Anyone Use Interactive Investor as a Broker?9 Jan '21
Regards Dividends and the tax on them. Companies have to issue dividends in the UK with a 20% Withholding Tax on them. In the UK you used to be able to reclaim dividend withholding tax, currently charged at 20%, up until Gordon Brown's Budget in 1997. Gordon Brown stopped non tax payers from reclaiming the 20% and in 2004 extended this to ISAs so that ISAs are tax free except dividends. Any income from Dividends, in excess of the dividend allowance, currently £2000, gets added to your income and will be taxed again if your total earnings exceed the tax allowance.
You get better treatment from interest paid as you can reclaim the tax but only get a £1,000 allowance.
Just wondering if this new years rise is all about the gold price, or to do with the debt disappearing or both ?
Debt Level to end of Dec 2019 : USD 123.7 million Debt Level to end of June 2020 : USD 62.5 million Gold Price Jan to July 2020 : $1500 to $1750 Debt Level to end of June 2020 : USD ________ ? Gold Price July to Dec 2020 : $1750 to $2050
If PAF is now debt free, and able to keep all the profit, then Cobus can pay out a handsome dividend and still fund the next projects.
Roughly... Mining 180k ounces at a profit of $1000 per ounce figures for 2021, = 185m 40% of that Cash = $74m = prospective dividend during the year of 3.2 cents or 2.4p. valuing on a yield of 5% makes for an SP of 48p !
Worth holding during 2021. (I've written down a new top slice target of 40 pence in my portfolio notes)
Would it be possible that PAF will suffer a bit of a blow today, after a new strand was discovered in SA, as was announced late last evening? I expect it to happen, I could be wrong, but if it does, I'm ready to top up.
RE: There's Some Serious ****ery in the PM Markets This-morning...21 Dec '20
Yeah, so JP Morgan get fined close to $1billion earlier this year for market manipulation over a number of years, come out with a statement that those involved no longer work for the firm anymore and square it away as a cost of doing business. The disregard they have for the Regulators and the public at large is only matched by their supreme arrogance. Clearly there are many other bad actors in the space and until this whole FIAT system goes pop (and there is no funny money left to protect) the manipulation will continue. Let's just hope they slip up and PM's go ballistic.
I bought 10k shares back in the day at 9p a share and have been adding all year to 25k shares avg cost of 17p. If the mines were in Canada, Australia or somewhere more stable the valuation would be insanely low especially when considering the likelihood of real inflation kicking in soon and gold price going « to the moon » as they say. Unfortunately this stock hasn’t really gained any hype unlike GGP and the like. It is tempting to trade this stock as it usually opens high and closes the day lower than the open but unfortunately it’s not available on most platforms to trade with CFD’s and maybe that is why the retail investors haven’t really hyped it up much