Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Bought in at 46.12 a month ago, sad to sell but £17.00 in a month is serious rise, last time came in at £61 & out at £75, keeping fresnillio and hochschild. Really hope I can get back in but doubt it v much. GLA
.....and still going up. 10%+ now. Gold rising. All looking good for now at least. Just as well as rest of portfolio is pants today. Lol. When to sell. The golden (sorry) question???
Going well, with ex rate of 1.32 I make it £58.26 for RRS as I type.
5) Brexit * not (Need it) annoying predictive text !!
Global stock markets have hit their lowest levels since February this year. The UK has hit a six month low and Asian stocks are suffering similar to U.S stocks, primarily due to recent rise on yields on U.S treasury bonds which have climbed to a seven year high (above 3%). However, some fund managers remain optimistic about the long term future of equities and are treating today as a 'buy' opportunity. This is because they believe the markets are over- reacting. 1) latest U.S earnings is looking positive. 2) U.S consumer confidence is high. 3) The NAFTA has been replaced with USMCA, which in principle is basically the same. 4) U.S trade war with China is continuing but not deteriorating. 5) Need it is likely to have a deal, which will have a positive impact to sterling. Interesting view, thought I would share with other PI's
Amazing day !!
On a red day. Barrick up 4% pre open. Let's see if RRS can get near £60 .
https://www.investegate.co.uk/randgold-resources--rrs-/rns/publication-and-posting-of-scheme-document/201810050700040962D/
PUBLICATION AND POSTING OF SCHEME DOCUMENT
Footnote:
Shareholders have until 28th December 2018 to hold or sell RRS as from 17:00 they will be suspended...............
I will be trading according to this formula going forward. I wish someone had told me this earlier. :-)
On a slightly more serious note though - how come the SP dipped today even though there were almost 10 times more shares bought than sold???
Indeed Chate. We should all buy when it's low and sell when it's high. How difficult can it be... If only!
Thanks Spendapenny !! Hit £56 today.. hopefully £60 soon. Be nice to be in profit. Should have topped up at £46.. hindsight hey!
Hi Chate, the Maths should work as follows. Multiply your RRS holding by 6.128. Multiply that figure by ABX price (as you say currently 11.69) then divide that by exchange rate (roughly 1.3). That's your equivalent holding.
e.g. You have 100 RRS shares x 6.128 = 613. 613 x 11.69 = $7165.97. Divide by 1.3 = £5,512. Compare that to 100 RRS shares at yesterday's close = £5,518. Pretty much the same give or take dollar fluctuations overnight. A Brexit calamity would see a gold safe haven run, so who knows where this will be in March 2019? GLA
Great to see the share price rising !! Also good to know acquisition is scheduled for Q1 2019. As it allows PI's to choose to remain or leave. This is a dumb question.. but when I viewed Barrick shares on my Webull app, they are listed at 11.69 although I appreciate that this is $$ that price is pence?? As in 0.1169 p if it corresponds as other shares such as National Grid listed at 775, which equates to £7.75 per share. Can anyone she'd any light on this?? I'm guessing it is $11.69, otherwise it is not a great deal.
Cannot believe there is no premium, just my luck.
In the final analysis, shareholders are not important. Directors do these things for their own benefit and guess what, I don't blame them.
Very poor deal IMO. Price is near lows Barrick are creaming all the merger synergies for themselves and there is no reasonable exit for shareholders who may if lucky only be slightly under water. Psses me off when you read all the financial blurb about how good a deal this is. Yeah for RRS board that can tick off ‘merger’ on their corporate 121s and land a fat bonus and for the legals, brokers and bankers who will do very well out of this. Don’t get me wrong I am all for rewards for performance but this deal is a shocker and if I am still invested will vote no. Trek from a soap box in Devon!
Yes, agree with the comments below. When gold starts to move usually the large caps move first and since this will now be the biggest company I expect it to provide a good return. That's the main reason for me to keep my shares and not sell (the other is that I'm staring at a loss atm... lol).
Of course gold my go down before it goes up but this one is not going bust for sure. I don't like Barrick or their former ex-Goldmann boss but at least they've massively reduced their debt.
About today, little bit of profit taking after the rise. Smart money will stay here for a gold price recovery. The biggest in the world companies in their relative fields do not normally fail.
Merger date of Q1 2019 confirmed with RRS dividend paid to RRS shareholders before merger (effective date)
But deal may be rejected by RRS shareholders (unlikely)
All I can find is Q1 2019 . Anyone dug deeper and found what timescales we're looking at before RRS disappears from the FTSE?
The Randgold share price was always regarded as overweight at its peak. Perhaps notwithstanding the gold price, this is now the realistic price. Suspect that this price run will wane tomorrow and steady at say 5% over Fridays price..
Watch and wait, all points in favour, weakening brexit pound, larger Co less risk/synergies, Trump bumps & much exploration in both pipes in around 9 countries, plus the Gold short expected to reverse & a good portfolio should have a gold element & both companies sp are way down especially Barrick - As Numis & others say = Buy, target £75 as deal completes
If gold increases then the sp of barrick should also but possibly by more than RRS would have done on it's own. Plus we're getting a 2.5% dividend before the transition to the new company, plus if the pound drops against the dollar around Brexit time it'll be even better, so not such a bad deal really?
Gold was $1300 a year ago and $1200 now.
Seems that the share price doesn't reflect this and so a good time to rob the RRS's investors.
If this share price keeps rising can the merger be stopped by shareholders? Considering this share price was £81 this time last year seems like barrack are really getting a bargain. Personally I don’t mind holding Canadian miners, got a nice stake in almos gold at $5.50 but feel like we could have more for our money.