George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.
"hasn't broken 50p yet."
"It was 55p two years ago at this time"
Yes, as I said I carried a big loss in March 2020. This came form buying a lot at much higher than 55p.
I mean in this current rally it has not convincingly broken 50p yet.
Im relieved to be comfortably in profit now and feel vindicated for doubling down on my losses in March 2020.
That left me very overweight in Lloyds as a percent of my overall holdings. Im not expecting rocket fuel on the sp and it hasn't broken 50p yet. Still, it's definitely worth acknowledging the positivity on this now; it's been a long time coming.
"....if all the uneconomical coal mines in the UK were still operating:
Coal (and the numbers of UK miners) was in long decline before Thatcher. Her achievement was to value cheaper imports above the livelihood of mining communities, with no support or transition to developing new industry and replacement employment.
Ww, i guess you'd have to ask someone who was a miner at the time. Scargill alleged the government had plans to close down 75 pits over three years, losing 64,000 jobs. Thatcher denied it.
Hardup
"Margaret Thatcher put that myth to bed!"
Scargill was proved right, although it took 30 years before the information was released.
https://www.bbc.co.uk/news/uk-25549596
Thatcher was an abomination, just the mention of her turns my stomach.
"say Lloyds bought back an entire half of their own shares. The dividend should double instantly. BUT it is the board who 'decide' the portion the shareholders 'get'"
I dont understand your logic. Imagine if the BoD decide they want to maintain tor progress he same rate of dividend, say 5.5%-6% per annum, after having somehow bought back 30B shares. The only way the dividend would stay the same is if the SP failed to rise at all . That would mean its market cap had halved. I cannot see how that would happen, buybacks are only made when trading is profitable. Yes, it is the BoDs job to decide what to do with profits. Shareholders can alway sell if they do not agree with the BoD's decisions. As for bias, my view is a fairly rational one and I have already explained what it is based on. It's just different to what you see. Why do you still hold shares in Lloyds if you have no confidence in their Board of Directors?
Like I said Brixton, some prefer it all as income. But they would have to also live with 75B plus shares in circulation. I think the BoD will have the same level of incompetence, buybacks or not? Apart from the fact the SP isn't going anywhere anytime soon, it isn't all bad news is it? A 5.5% annual payout in cash is still better than many FTSE100 alternatives.
'distaste with the 'image' that buybacks are fool-proof'
No-one's saying their foolproof, or a panacea for all ills. There is a point of view that says its a good use of excess profits while the share price is lower than net asset value. There is also a stock specific case for LLOY buybacks, in order to counter the annual increases in shares in circulation which would otherwise dilute the share price further. Many other investors here would prefer all profits to be paid out in income. I am happy with a growing dividend and buybacks. I see buybacks as the only way out from this staying a penny share forever.
Chips, thanks for reply, good to know you have family experience of migration.
"Politician are there to serve themselves". Yes, I think that's the best possible summary you could make in six words. The system needs to change or it will just produce the same results over and over again. My worry is it will become more extreme right, akin to 1930's Europe. I dont know if this board is representative of Uk opinion, but if it is we are doomed to a "GB news led future". Some here would apparently let migrants drown in the Channel, because seeing them as the "problem" is far more convenient than looking closer to home. That is the reason I recently posted that I would like to be close enough to be sick over Chid. I don't actually get a kick out of it. I just dont know how else to respond to his fascism, except tell the truth about how I feel.