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China is looking to Africa to replace its reliance on Australian iron ore and reduce its price. It seems that the Chinese are seriously considering developing a large resource in Eastern Guinea, in the region Sables Nimba mine is, roughly 100km away. The Guineaian Govt has been trying for years to get a big miner to build a railway to its own ports in the West from there. Sable had hopes to export thru Liberia as it was closer to existing infrastructure. Interesting read and would make Nimba more viable if it happens.
https://www.afr.com/chanticleer/china-s-african-iron-ore-strategy-spells-danger-for-australia-20210408-p57hnm
Hi JN,
My allocation of 84,00 CGO shares showed up in my trading account, but because of the problems caused during the transfer between HL and the CGO registrars they couldn’t be traded, or bed and breakfasted.
So in the hope it would be sorted reasonably quickly, I bought slightly more (86,000) CGO shares in my ISA account, in the hope of the sp rising.
If and when the sp reaches a decent point, I’ll then be able to realise some of my £8,000+ investment in CGH (Sable) by either bed and breakfasting, or trading the ones in my trading account.
Here’s hoping folks, I hope my strategy comes off, and good luck to all.
Merry Christmas to one and all, CGH and CGO.
RG33, congrats on getting some money back. Could please explain to the rest of us what process you followed to convert your share certificate in CGH to tradable CGO shares?
I guess that Groves will be beavering away shutting down CGH, and disappearing our remaining assets. So the only way of getting any news will probably be by shareholders with actual CGH paper certificates, receiving information via Neville registrars . Which hopefully they can let us know by posting any news on here.
GLA
Thanks Lo64,
Been a long old slog, but we’ve got something back after all the despicable treatment from the lousy board of directors..
Good luck to all.
hello RG33.
congratulations you now got your money back , very nice..
Keep going CGO, just about £3 grand short of recouping my £8.5 k investment in Sable.
Wonder what will happen to all the other assets CGH had? I know they’ve said they’re going to close the company, but there must be some value in the assets. !!!
GLA
anyone with AJBell and heard anything? still no movement at all on my account for the new shares in cgo
Probably would try and get in on the bell. I know a lot of talk on twitter and a lot of the bigger hitters taking some today. Good luck
Looks like I'll get back in lower than where I sold on Friday if I get in early tomorrow morning. Not too bothered if not but would be nice to have a few thousand extra shares if it comes good.
to be honest, i don't know enough about CGO to know if i want to sell and buy bak, if there was a simple bed and isa option i may take it, if it starts to rise, fine i'll bail before CGT is an issue
Well hope you get back in with a decent price. Looks like it’s starting to make its climb this afternoon.
As previously reported, zero bed & isa option available anymore, they made it sound like it was a regulartary thing until i pushed them, asking specifically if this was a HL restriction/policy to which the reply was, yes, originally because of covid (what utter BS) then admitted that it was because it takes 30 minutes to process a single request and basically it wasnt worth their time.... and by default non-corporate customers are not worth their time, given they no longer supply broker forecasts or opinions, or any recent/past trades history either, I did say i wondered why i was staying with them.
also as notted earlier, its 2 days before you can take the money out after the trade, and basically its all manual, sell... fee, take cash to bank account, subscribe to isa (at allowance cost) re-buy in isa
or just sell and take the cash!
i'm beginning to wonder why i have an account with them, their service is sh it
I sold Friday. Settlement day is next Tuesday. Don't know why it takes 2 working days. As MB says I will transfer the money to my ISA and buy them back. I think one has to pay 2 commissions but a small price to pay if this comes good enough to trouble my CGT allowance.
no , only saw HL message this morning , not enough to affect CGT , will hold , maybe , for a better price , will buy back in my ISA , as I already have a contango holding , GLA
Did you sell Friday?
at long last , no you cannot do a bed and breakfast isa , you have to sell them first , wait until settlement day , and transfer your money into an isa , then buy them back
Yes I sold them from my fund and share account in order to bed and ISA
They don't seem to have a service at present, just some instructions. I am doing it manually.
Did anyone sell their CGO shares that arrived in their accounts today?
Timelard .... what deal did h&l do on the bed and isa ?.... i'm assuming like me yours ended up in a fund and share account
i forgot to say, i did phone and ***** loudly at them wed or thurs.
mine too but 'i've been travelling all day so didnt realise and too late to call h&l now will do first thing monday then time to make a decision.
finally though, relieved to get something back from them
Thought it would never happen. Doing a bed and ISA so hopefully the share price won't soar before Tuesday.