Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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"Silver is on 🔥🔥🔥
Approaching 3 year highs.
It was stuck below $25 forever."
https://twitter.com/WallStreetSilv/status/1777698319290011687
Yep. That exact potential market mover moment influenced my sell decision on PAAS and my trim here.
If the market likes the print, I have plenty of risk on equities (including this one) to ride some more before further potential trims.
If it comes in hot (and if this one does not, IMO the next one likely will), then I have a pretty decent amount of dry powder to deploy accordingly. GLA.
Missed this one that I have trackedfor ages. Looked too much at gold players, so missed out on FRES.
Pokerchips, £ and FTSE 100 have been "cheap" for donkeys too, still not enough to entice overseas investors though. Oh the days of $2 to the £, perhaps some on here remember when it was 3...
"these will almost certainly get sold off, along with everything else, when a proper market correction occurs"
With CPI print tomorrow, you might not have long to wait LWHL!
"Michael Oliver – Silver Should Hit All-Time High Above $50 By November"
https://twitter.com/MacleodFinance/status/1777630858284876242
"....towards the US and Japan "
well a boom in AI and a cheap YEN ...and you have the perfect reasons ....
Fear is now behind us and Fres shareholders can now sit back and enjoy the rewards as FOMO replaces Fear.
"Of course it has.....The City makes money....and as there is no such thing as a bad market"
Not sure about that Pokerchips. Even hedge fund titans like Paul Marshall have lamented the fall of UK equities, he aptly described it as the "Jurassic Park of stock markets". Many UK fund managers pivoted away from UK equities towards the US and Japan, the valuation disparities across the pond are really stark - the big neon sign examples are BP and Shell versus Exxon, Chevron etc.
Low volume and thin liquidity mean institutions need to encourage order flow and market participation by taking down stocks and forcing market consolidation to earn £££, we've seen it in oil and gas.
Most people here would rather shovel every penny they have into the housing market, whereas UK stocks have been largely ignored.
Did you know that in the early 2000s, Vodafone had a bigger market cap than Apple - now it's $23bn versus $2.6tn :)
"There are decades where nothing happens; and there are weeks where decades happen"--Vladimir Ilyich Lenin
Pretty much sums up the silver market!
Thanks Pokerchips. I appreciate your help.
Https://wise.com/ph/account/
listed on the stock market
https://www.lse.co.uk/SharePrice.html?shareprice=WISE&share=Wise-Plc
Thanks for the advice on the foreign currency issue Pokerchips and LWHL.
I didn't want to open another bank account just for a small number of cheques. I went round the local businesses that advertise a cheque cashing service but none of them would take foreign cheques.
I have never heard of WISE, thanks, I will look into that.
That sounds most annoying. I presume you have explored all other banking avenues? Having not had a cheque in any currency for a while now, I am out of the loop on this aspect, so no idea if all of them would take the same (seemingly unreasonable) approach to declining customer money.
One of the benefits of having an online account I guess is such a scenario can be avoided.
I sold my HOC during that time deciding not to get involved with getting any Aclara Canadian shares ....
" If the company were to pay a dividend, it will be in Canadian dollars and my bank doesn't accept cheques in foreign currencies so can't cash it. If I sell them, I will get $CDN for them and again, I can't get the cash. "
why cant you use a multi-currency account , wouldnt that work ?
I use WISE and have Dollars,Euro, Pounds, amongst others
Another snag with foreign shares is that they create more work when you fill in your self-assessment tax return.
Admittedly, the Foreign pages aren't too much trouble, but it is more work. I have to fill in the foreign pages just because of my FRES dividends and to claim back the Mexican tax.
"Ouch. Why did you not want Canadian shares" - they are more trouble than they are worth -except when they go up by fifty of course, but that is rare.
Sadly, I have a holding in a Canadian gold miner, Aclara Resources. I got stuck with them when Aclara was demerged from Hochschild.
If the company were to pay a dividend, it will be in Canadian dollars and my bank doesn't accept cheques in foreign currencies so can't cash it. If I sell them, I will get $CDN for them and again, I can't get the cash.
If I was holding them in an online account, then the dividend would be converted to GBP by my broker, but my online broker won't let me deposit Canadian shares into my trading account. That annoys me because I can buy them in the account, but can't deposit then certificate as I could with British shares.
Pokerchips - weeks would go by with no trades at all in Yamana. or Kirkland Lake There was no interest. Now and then a small buyer like me would buy or sell, then it would be back to weeks of no trades at all. If there had been any interest, then AUY and KGI would have kept their London listing.
Running higher all of April as silver breaks out too.
£6 is about to go the way the £5 did - this seems to have been the confirmation for funds to go long in PM stocks.
£7/£8 again 2024 or higher?
GLA
Ouch. Why did you not want Canadian shares? Not like having to try and list on eg the Kazakhstan exchange, where I could understand reticence.
Even if FRES move to US or Canada, I would keep them. Still got RRS stock (now Barrick) and fingers crossed, never had any issues with the automatic transfer, or dividend payments either.
But - as much as I am a PM miner enthusiast - these will almost certainly get sold off, along with everything else, when a proper market correction occurs. Although I am hoping not before 8 quid or so, in order that I may offload a few more, to buy back cheaper at some point thereafter....
Ultimately, IMO inflation is going to spike up again. We need Mexico to cut rates and company costs to come down, in order to properly benefit from the rise in gold and silver prices. All of which is likely to be harder to achieve if the above scenario happens.
What a mess the world is in. Price of commodities (including bitcoin, which might divide opinion!) tells the real story of inflation IMO.
" London has no interest in PM stocks, well, until now. "
Of course it has.....The City makes money....and as there is no such thing as a bad market..they are happy to make money shorting ..or long playing ....they dont particularly care ... as long as they make a profit
Strong interest shorting or buying Options to knock the share price down and make profits when problems occur that warrant such moves ... they look for strong reasons to sell and make money as much as buy and make money
Bad news can always be good news to the City
"Are you honestly suggesting that it being listed on the ftse100 is the reason for it's underperformance " - London has no interest in PM stocks, well, until now. Maybe the big jumps in gold and silver will change that.
Years ago I was in two Canadian miners, Yamana Gold and Kirkland Lake. Both were fanatastic companies. I had ten grand worth of Kirkland Lake shares.
They delisted because London was a dead loss - no volume. I sold because I didn't want Canadian shares.
The Kirkland Lake shares price went up by 50 times - I missed out on 50 x £10,000.
They were both fantastic companies and the London fund managers weren't interested at all.
I am wary of KWN, but last October, this man correctly predicted this huge jump in gold and silver, and here he has more to say, including a word on corrections, or wobbles as he calls them.
Michael Oliver – Silver Should Hit All-Time High Above $50 By November
https://kingworldnews.com/michael-oliver-silver-should-be-at-all-time-high-above-50-by-november/
I am reluctant to trim, with gold making all time highs every day. There will be a correction at some point, but the risk is to miss the move of lifetime underexposed. Yesterday, I found myself adding to juniors that lagged so far, like Silver Tiger and US Gold Corp. Fres is one of my core holdings. Go for the jugular.
I trimmed a few of my sub 5's yesterday. Still overweight here, but ever so slightly more sensible position size now.
Also reached my target over at PAAS, so took slightly more meaty profits in that one. Which probably means it will now sail through the year highs and back to 20 USD, but earnings in a few weeks, so unless I see a healthy pull back in that one prior to then, happy to sit on the sidelines and take a fresh view thereafter.
I would love a retest of the year highs in this one, but as I have said before, it is never wise to start counting chickens at the best of times, but especially with FRES :)