The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Apologies meant for Hummingbird
https://www.youtube.com/watch?v=tfB2Nk_2E20 I appreciate this is slightly out of date now but very good overview. Dan Betts very impressive. Comforting that even at $1000 dollars per ounce Mali project will clear £25 million per annum. Worth listening to Q & A. NM
Please take note of the GDXJ rebalancing that is to take place tomorrow afternoon around 15:25 EDT. Sandstorm's pps is likely to plummet as it is one of the companies that the Van Eck GDXJ is reducing its holdings on their index. Short sellers are going to have a field day (well about half an hour) and it will take awhile before the SS pps settles down again after the rebalancing. There will be opportunities to get stakes in real good gold and silver companies as their pps takes a hit from the GDXJ rebalancing act and once the prices stabilise in a week or two, Sandstorm and the others whose holdings are being reduced, will rise again. more info here : http://www.zerohedge.com/news/2017-04-30/gdxj-killing-market Getting out of Marl today with my 41,500 at some opportune point and getting my powder ready for the opportunities to buy some real good ones at knockdown prices tomorrow! GLTA
helpful like minded investors. I've come out for now and derisked. Inevitably it will now mean a yes vote and the price will spike to £1.07 or so before being delisted but I decided the downside was not worth it as the price would tank if there was a no vote and the upside though nice (6 per cent) is just not worth it for me. Like a few of you I will probably get into Sandstorm at a later date but with a quarter of the investment I had in Mariana and will now use this opportunity to spread my risk going forward and see to some financial commitments! I have dipped my toe in the water with Hummingbird today and also topped up a little in Aminex. For those of you that remain, I wish you all the best and may join you later in the year on the other side of the pond!
Morning General. Hopefully this is correct bit fussy this morning as it was midweek last night ;) When the MARL are converted to SSL or SAND exchange does not have any baring you get 28 p and 4 SAND (SSL) shares per MARL share irrespective of exchange rates. However, when you want to sell your SAND shares then a strong dollar is better for you (the brokers win either way!). Say SAND is $5 and you sell with a rate of £1 = $1.25 you get £4 per share (less commission etc). However, if sterling strengthens against $ or CAD to say £1 = $1.5 then you only get £3.33 per share. I keep a spreadsheet of the current SAND and SSL prices in local currency and converted at current rates to GBP to try and keep track, I also convert the percentage gain / loss into sterling percentage gain / loss from a fixed date as a fall in the price of SAND is not always bad if the pound has lost value (so some days SAND has fallen 5% but in sterling this is less than 1% due o currency fluctuations). I think Ludeck alluded to the number of permutations with rates and the POG once or if it is a yes vote (one of my reason for bailing, I was watching too many screens and not working!). Also like Ludeck I'm keeping my eye on SAND in the run up to PFS, definitely will be interesting and potential profits to be made. Any how sir I must get on with the day job, best of luck with MARL and let me know when your are thinking of Ale and Pork Scratching's Bushy
I'm guessing Ironridge Resources.
So it looks very likely that HM will at least double in resiurce size,as predicted by GP and the RZ will add further value,So at lease 2.5m oz with extremely low AISC trying to be sold for £200m ?????????????????????????? apparently equates to "maximum shareholder value"
name of vanadium play please. make a look at dollf and pretium, v. large gold mine about to open. best of luck , see seeking alpha on both.
name of vanadium play please. make a look at dollf and pretium, v. large gold mine about to open. best of luck
@FtP - no, I don't think so. I have sold a good chunk already as I had an imminent opportunity elsewhere. What's left will be sold early next week. I will attend the EGM, hear the YES vote announced with my own ears (or not - as the case may be), and then sell my remaining holding next Monday or Tuesday, before MARL is delisted. This makes the capital gains calculation and declaration much simpler and draws a nice line under this investment. I will be watching SAND closely and intend to invest in the run in to the PFS. They're now predicting Q4 for the PFS, so I guess I'll be looking to get in in November. Between now and then, I am not really keen to be exposed to the vagueries of the PoG or the USD exchange rate. Right now I feel that there's better opportunities than gold. Copper in particular is strong and looks to be strengthening yet further. I am also heavily invested in a vanadium play where I expect greater short-term upside than here. But in the run-in to the PFS, I am expecting fireworks here, and foresee the announcement of an agreement with Lidya to come soon after that. If that agreement with Lidya comes earlier, then I will miss the boat, and in that case c'est la vie...
When MARL (in £'s) are converted to SSL (in $) is a strong dollar good for stockholders on sale for us on the right side of the pond? And if it is (which is my uneducated guess) then won't there be an immediate currency transfer bonus for those who hold? My maths and financial acumen are staggeringly baaad! Any answer (as long as its correct of course) gratefully received. Many thanks
Hahahaha what a plonker. Just goes to show what a load of tosh he peddles. I hope this link stays active forever so it can be reposted whenever someone suggests that this guy's predictions have any credibility at all. Perhaps I will screencast it just in case...!
III will only allow you to trade it through Toronto (SSL) and they will charge you their normal transaction cost PLUS 1 per cent commission for the currency exchange which is irritating. Downside of staying in is increased trading costs, dividend tax (even if in ISA as will come away at source and will be 15% if fill form in and 30% if not) and contending with exchange rate fluctuations. Upside is benefiting from longer term benefits of HM if they transpire (which they should do) and any wider upturn in Sandstorm portfolio. Technically they are due a big bounce and look oversold and were significantly higher 6-12 months ago.
Oh dear, Zak seems to be a bit out of touch with what's happening here! http://www.proactiveinvestors.co.uk/companies/stocktube/7634/mariana-resources-likely-to-hit-140p-in-coming-months-says-zak-mir-7634.html
Hi Ludeck Thank you for your input. I've got all of my Marl shares within an ISA and have had conflicting information on the tax situation relating to the cash return. If it's not going to be taxed I'm tempted to leave things as I think there is a good chance that Sandstorm will advance later this year and there is a lot of upside left in HM albeit in a more diluted form going forward, although it will be important to keep an eye on the exchange rate as this will affect the outcome on future divestment. It's a big deal for me as I have am very exposed to Mariana as a percentage of my portfolio and it is a big part of my 'pay the mortgage off plan!'. I was told by one of the interactive team that the cash would be taxed as it was being paid from Sandstorm which is based in US? I thought it was a bit odd as its not a dividend but part of a buyout. I understand the dividends policy and the form that relates to this but trying to work out if we are in a grey area or if indeed there are no tax implications on the cash payment! Are you keeping yours Ludeck?
@FtP - the 15% / 30% applies to dividends only. You're not going to get taxed on the cash return, nor on any capital gains realised from selling SAND, except if it's outside of an ISA and over your CGT personal allowance as per any other share.
Terrafin Will they remove 30 per cent tax (or 15 if you fill in form) from cash payment when it all goes through or have I misunderstood this? If there are no tax implications I am also minded to stick with it and if there are I will sell and buy back into Sand through Canadian market which I can trade through III. Thanks for your feedback.
@Terrafin: yours mirrors my own thinking. I guess we are in for quite a ride ahead, but I'm also optimistic about the longer term direction if the merger goes ahead. Cordially Lionel
@FTP - If the merger goes through (IF) I am in no hurry to jump ship - The fact remains a world class asset (HM) is what I am partly invested in - I will stay with SAND and see what the PFS brings at the end of the year - perhaps at this point the true reflection and worth of HM will be revealed - I'm in no hurry and enjoying the ride .... I have a feeling the SAND SP will increase over the next 6 months... AIMO
Terrafin If you don't mind sharing what are your plans? Do you intend to continue to hold through Sandstorm merger or are you selling out before the merger? FTP
Good grades again ....
SAND SP nearly at the official offer price tonight London SP 'as always' lagging asleep far behind by over 8%
Just sold my 19,133 shares (showing as a buy)...been in here since the pump and dump days and felt it was the right time to cash out. I'll still be keeping an eye on MARL from time to time as it's been an emotional journey :D Best of luck to all of those who remain and I'm very sure your patience will be rewarded!
@ludeck: I believe last was 9 May (5 weeks to the day): http://www.investegate.co.uk/mariana-resources-ltd--marl-/gnw/mariana-resources-ltd----further-high-grade-gol---/20170509124045H2932/ Cordially Lionel
Expect 7 or 8 weeks between updates now they have 3 rigs operating. All these tedious 8.3s make it a real hassle to locate the date of the last drilling update, but it feels to me that it was about 5 weeks ago.