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Topped up at 4.70p but shows as a sell. Guess some of the other trades at 4.7 could be buys too.
@DrAim
Collect you deranged deramping rubbish mate
The 0.50's are now inevitable...
well done on finishing the building work, mine are dragging on, expensive times, had hoped that I would be able to cover the last part via selling off 20% at around 8-9p but looks unlikely now, extra hours working it is then... :-(
I think I suggested ages ago the re-rate would occur in September ...... I just got the year wrong!
LGM are at the Sydney Gold conference. XTR still get a mention so perhaps a little bit of publicity
https://wcsecure.weblink.com.au/clients/legacyminerals/headline.aspx?headlineid=21379308
I think most expected the rerate to have happened by now CB
..... with copper being the Apex commodity due to electrification revolution..... its the one that is needed in all from production/generation/transmission/storage/end user(eg EVs).
We are in the right space to take advantage imo
I have finally finished bleeding XTR shares for cash to pay builder, (1.5 million sold since January), only retention to go and that will come from wages. Still holding around 6.5m XTR, with no intention of selling any, it really would have been nice had a rerate happened sooner, very poor timing on my part, but it is done
I agree with a lot what you say Shorn.
Gold will do well, but that’s because the real yield will be negative for some time as inflation will be higher than interest achievable. So people turn to Gold as a store of wealth – which inturn ends up as a much better investment than just “preserve my wealth” due to the high demand.
Central banks are stuck between a rock and a hard place imho. They know they need to increase interest rates to reduce inflation and meet their inflation targets, buts they also know the economy of their own country is not in great shape to deal with higher rates. There is also the elephant in the room of massive government debt, certainly in US, which can only be serviced by low interest rates - so another reason why interest rates may not rise as much as they should.
Although Gold will do very well, I think Silver will also do well along with commodities in general. Copper and EV metals will have the added boost of higher demand due to Green agenda and EV revolution. Could be mid “1970s lite” situation (but not as extreme) where inflation went very high and commodity prices also increased at the same time.
In short, commodities will be the place to be for next 2 to 4 years….until they mean revert and the inevitable correction comes.
Well, that’s my take anyway.
theiceberg
Not sure i totally agree with your view on economics with respect to inflation, interest rates, and gold.
My view is that equities generally have a ways to go yet (further main stream drops) we have asset inflation on the back of QE money finally hitting peoples pockets, followed by labour inflation.
I believe the markets "still" think inflation is temporary and for me where i differ to you, is that the bond market needs to wake up and realise that that bonds no longer represent the best hedge against inflation. Therefore i believe gold will start increasing later this year and into 2023 and beyond, when the housing market cools / falls, savers and the holders of bonds decide to follow gold as the hedge, the rise in gold could be very significant and i believe it will not fall significantly from this level.
Due to the western world combined national debts, we are facing a 10-15 year era of wealth distribution (financial repression) and as such most western governments will keep interest rates relatively low compared to nominal GDP to reduce the debt to GDP burden using the effects of the very same inflation they don't want to reduce, all the while re-distributing wealth. The economy will run "hot" for quite a while, for this purpose.
Historically, in the early stages of inflation commodities fare well, though later they fall victim to inflation too.
For anybody interested in the limited upside of inflation through time - unlike other recessions i believe BoJo (or replacement) will introduce a massive government investment scheme (like Biden's) - target areas will be things like: chemicals & steel (reversing globalisation), building, energy security (north sea et al), green movement... - let's call it the old economy + going green...
XTR is obviously an explorer with an unrealised as yet asset value in BR. So tends to fall outside of the early effects of inflation.
Sorry for going quite aways of topic but i think folks are waiting here for near term results here (quite right too) but suffering the wider effects of the markets adjusting to the effects of inflation as it takes hold...
IMO ATB Shorn
hzap, a quick search of the zambia mining cadastre shows 5 more concessions , not including eureka, kalengwa or chongwe . https://portals.landfolio.com/zambia/
So chances are then the income will not necessarily factor in any way alongside audited report then.
Anyone hoping to attend AGM?
What are the key points we could hope to get answers on?
What’s happening with plans on further exploration once Eureka is producing? It’s such a big deal and a shame it’s parked up!
Chongwe? In case any members missed Andmillsy post recently with emailed reply from xtract answering that question.
>> Chongwe was an opportunity where a small project owner asked the company to assist and understand what he had and where we might share benefit if there was any potential. It was more exploratory than a deal, but our findings are fairly positive, which if confirmed, will take us into an ongoing definitive arrangement, which of course will be announced.<<
Any other small JV’s in the pipeline?
Are xtract hoping to retain the exploration rights on other tenements at bushranger if and when sold? Can’t imagine what else they would divulge regarding the project.
I would assume Q1 results will be released last week June or early July as they are probably not great. Q1 last year was released 2 July. Q2 were poor and released 5 October. Both over 3 months from end of reporting period.
Q3 and Q4 were good results and released 2 weeks after reporting period.
Do you think is likely they would release last years full report, Half year income and notice of AGM all together?
Only apparent reason I can think of why first quarter results were not released.
Poor results are poor results and will not fool anybody however packaged. Not saying they will be poor of course but at least all grouped together particularly if they take advantage of the dispensation l, so as to include first income from fairbride on top however significant. Fairbride income in black and white will overshadow any shortcomings from previous reports.
That’s just one cynical reasoning, any thoughts on how else it all may be reported?
"I think it’s within 6 months of the EOY ie period ending the 31st of dec"
Yes. That is what I meant 31 dec + max 6 months = 30 June for final year accounts.
I think it’s within 6 months of the EOY ie period ending the 31st of dec - not June. Last year the annual results were end of June and can’t see it being any different now. They did take advantage for the agm and the actual filing of the full accounts, but the high level accounts were inc in the end of June final statement.
I think this is still the hard rule for aim compliance. So the 27-30 of June for the RNS.
My understanding is that the full year accounts have to be published within 6 months of period ending ie 30 June and that the AGM must be held within 6 months of the period ending (30 June) and we had to have at least 3 weeks notice of AGM. Happy to be corrected.
I assume that info is correct and is a legal requirement?? FCA rules??
A month ago, I said that the AGM/ Final accounts will be announced soon, Andy M showed me the FCA rule giving 2 month extension. Obviously it doesnt mean everything will definitely be delayed by the full 2 months... but I suspect CB will take advantage of most of it !
Thank you Andrew. Yes maybe that is the case then
Back in ‘20 the notice was on the 8th as you say would have had that by now.
So If I understand correct the Special dispensation would be the only legitimate reason to defer audited results.
Might be a daft question but do audited reports ‘have’ to be reported on time normally?
Pre covid, the final results should be announced by end of June. However, Andy Mills said that companies can delay final results for 2 months due to covid - under special dispensation.
As the AGM should also be held by end of June and at least 3 weeks notice is given (it can't be now) I suspect we wont get the AGM notice or final results for a few weeks yet?
Final results and AGM have always been announced by now in previous years. So I assume CB is taking advantage of the option to delay.
Nether the less, the full audited results for ‘21 are due anytime now.
With an impending asset sale now potentially being pushed back, is there a legitimate reason that a company would not publish its yearly financial report and defer it until after a sale has been made?
Now, with any uncertainties out the way as to wether the company have entered into any kind of negotiations. The AGM is likely on course. If, of course that it falls back in line with pre-covid date. Accumulative Q1 and Q2 could be dropped prior to AGM being announced. End of last year it immediately followed half year report.
I wonder when we will get eh Q2 alluvial results ?
Just a quickie, they have been pretty dreadful so far this year (apart from nickel). As has gold and silver.
With inflation running at 7-9% any rises below this, indicate a real term fall. Given a share bear market and serious concerns 're profits and so falls in dividends , one would assume that gold in particular would be rising at inflation plus 10% as a minimum. This would put it up to 2100 or so.
But why isn't it?
Well people certainly arnt turning to Bitcoin etc. Imo they are investing in oil contracts, food stuffs and are trying to chase the massive fat margins, large investors also have a relative safe haven in interest rAtes which are due to go up sharply. Hot traders are probably looking for large margins on interest swops and or derivative trading.
Just imo, but once these are exhausted - and it won't take long, you'll see a flood into gold, hopefully once we are through the recession (the UK will definately have one) we might well see a gradual increase in copper etc.
For xtract - a bona fide gold produced this year, it might well lead to a very nice and well timed bonanza.
As always Just imo but gold and low risk oil are the aim areas for 2022,
Got a feeling that Colin is maybe occupied elsewhere - which is a shame.
Also got a feeling we will get drill results in the next 48 hrs and that might inc a bit about manica - which will be a shame as well, as it deserves its own rns.
Finally we have results in the next 2 weeks.
True, I had expected one this morn but it seems the company want to see more progression.
I know, Pre- lockdown it was 17 quid to fill up my bike tank. 34 quid yesterday!