The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Hello Jonmo91 in response to your post at 21:05
If you relisten to the Sunday Brunch from 17:12 where PG states that the third step (after reentering MOU2) is to drill between MOU1 and MOU2 (ie MOU3). Therefore may I suggest that MOU3 funding is not an immediate issue.
Hope this helps
AGD62
Hello Jimmy123
I hope you saw my response to you last week, unfortunately when I got home the following evening I saw that that particular thread had been removed.
This week I have noted a change in your posting style, which is more agreeable to me and removes the uncertainty about your previous posts. For this I thank you, regardless of the reason for that change.
It is therefore only right that I must and I do unreservedly withdraw in full my previously expressed concerns.
I look forward to reading your future posts on this board, however long or short that ride may prove to be.
ATB
AGD62
Hello All and apologies as I have had to revise part of my earlier post as follows:
When the shares are subsequently sold then they are subject to Capital Gains Tax at 20% based upon the market value of the shares when sold less the price at which the option was exercised {deleted] less the capital gains tax allowance.
Add:
In summary and as a rough guideline, Income tax (40-45%) is payable when the options are exercised and capital gains tax (20%) is payable when the shares are sold. (This assumes a higher rate taxpayer)
ATB
AGD62
Hello Micktrick,
I saw your post on Friday and agree with your thinking. Kasjnaton's copy of GRH's post seems to support that view.
As GRH has referenced the UK tax implications on options, I did some quick research and have put it here for the benefit of anyone interest.
For individuals who are UK resident for tax purposes there is Income Tax payable immediately at the time the options are exercised, based upon the difference in the prevailing market price of the shares and the price (if any) paid for the options. Assuming your personal allowances and basic rate (20%) income is taken up by other employment, the options would be taxable at 40% -45%. In addition there would possibly be NI to pay.
When the shares are subsequently sold then they are subject to Capital Gains Tax at 20% based upon the market value of the shares when sold less the price at which the option was exercised less the income tax already paid when options exercised less the capital gains tax allowance.
Clearly there is a huge tax incentive to get the Income Tax charge based upon a price as low as possible and importantly timed as closely as possible to when you think the price may be due for a significant upward revision.
I'm now watching with interest the remaining non director options and warrants to see when they are exercised.
ATB
AGD62
Hello All,
I believe PRD has become a risky share to own if you do not properly appreciate what is at stake here. As far as I'm concerned this a wonderful, well managed company but I believe that significant pressure is going to grow on this board to coerce some on here to sell out cheaply.
Crocodiles come smiling but they are not your friends.
Regrettably we have already seen certain individuals drive off GRH, which I believe was because he was perceived to be hindering them in their efforts. I now fully expect that they will turn their attention again to getting hold of PRD shares cheaply, by whatever means they consider acceptable. Others have previously posted on the tactics deployed by derampers and they are worth a (re)read.
All BBs have their derampers and they claim they are genuine investors providing the opposing view, this in my opinion is simply not true. To be invested in a share you feel unsure about and continually spend precious time on a BB trying to "warn" others of the "dangers" is pure lunacy. No sane person would do it, they may give fair warning to the BB but would not continue to hang around, they would simply sell up and move on; therefore those individuals have to have an ulterior motive, which of course is to persuade invested individuals to sell up, which is to the derampers direct or indirect (paid derampers) benefit.
There have been various suggestions put forward on how to deal with them from blocking, ignoring, reporting and even engaging with them, all have their merits and you need to determine what best for you. As these are people I would on the whole avoid interaction with in the real world, I see no reason to indulge them here, so they are mainly blocked or otherwise ignored. On this BB I understand there are some derampers (blocked by me) who are clearly disturbed, whose depths of depravity are unfathomable and which are reflected in the sordid posts they have apparently put on this BB. I would advise against having anything to do with them and support the idea of reporting them.
Defense against derampers.
The best defense is to have a good to thorough understanding of (1) PRD, (2) the Management and (3) the disparity between the potential value per share and the market price, which is why we are all here. A second thing I do is to remind myself on a regular basis of the reason I'm here and the financial targets I wish to achieve by being invested in PRD. But there is now a third factor, how far can I ride this wave.
Insomnia cured
ATB
AGD62
Hello GRH,
I hope you are keeping well and I'm hoping that you are still reading this BB. I understand the reasons you withdrew from this BB and it is unquestionably the poorer for your absence.
I have a request and hope you will not think it in bad form, but would you consider making a blank post on a regular with nothing more than a heading such as "Still Here", thereby refreshing your post history and keeping it accessible to those who appreciate your contributions and those who may be new to this BB.
From a BB friendly
ATB
AGD62
GRH
I’m sorry you feel pressurised to leave this board and would earnestly ask that you reconsider your decision.
You are highly regarded by a large number of readers of this board. If in doubt you only need to view the responses today, amongst which are a number of the new contributors.
On this board there are a group of contributors of real worth whose collective input contributes no small part of the initial research of others, myself included, and points us in the direction of further independent research. You would be over modest if you didn’t realise that you are an important part of that group. You need only notice the number of supporting recommendations your posts get.
This is a truly top level board, despite the unavoidable presence of those not worth naming. But it can only remain so if there is a core of high level contributors. This is the group I refer others who are considering investing in PRD to and I’m sure I won’t be the only one who does so.
Having listened to PG on the “Sunday Roast” it is clear he believes we are within grasping distance of starting to get rewards from Morocco and now we also have a rough timeline for Ireland. It would not feel the same if after being here for so long you are not around when the best RNS ever arrives.
Regarding the nameless, don’t let them become part of your life, just filter them.
So please reconsider and return to the board.
Best regards AGD62
Hello MEM,
Your outbursts, as this is not the first are a discredit to you and as no disrespect is meant I'm sorry to see you do this.
GRH is a massive asset to this BB and the fact that he puts his past successes is to be applauded as it allows us to gauge his credibility. Long may he continue to do so.
As far as his not spelling it out goes, well try viewing it as the analogy of teach someone to fish as opposed just feeding them a fish. This is a very useful skill, especially once PRD comes in and we all need to disburse and find other investment opportunities for ourselves.
In light of your request for giving out available information, perhaps you would also like to reconsider your own position regarding the trails of breadcrumbs you keep alluding to and enlighten us to what information you or your contacts have? I for one would appreciate it.
Lets keep this board abicable?
ATB
AGD62
Hello Scott126,
I think you have misinterpreted the post by Neversatisfied, which I think was a reasonable response to ndmLSE's query. I can not see in that context how he is factually incorrect. As I'm in agreement with the rest of your post I would also suggest that Neversatisfied has overlooked FOMO combined with inadequate research.
ATB
AGD62
Hello F&M,
A short question yet a complex answer. There is I think little doubt that there will be a benefit in price in respect of Guercif, but to quantify it would be difficult (beyond my capabilities).
My first thought is to consider what other energy supply alternatives will imminently be available to the EU and by extension UK.
Secondly, I think that the EU would want to normalise relations with Russia as soon as possible after the conflict Ukraine is resolved. It may also undermine EU support for Ukraine, which I believe is what VP is banking on. I truly hope that for they aren't influenced by short term relief at the expense of long term future stability. The world has tried that before at a terrible cost.
Finally I would consider if Russia stops the Nord Stream 1 gas flow, where does it sell it's gas? It still needs the gas revenue. South is logically it's only option, which would be China with it's avaricious desire for energy, I suspect this is already being considered or negotiated. India would also be an option with its energy needs but logistics of supply I suspect would hinder this. Similarly with African countries, however Geopolitical factors with China's expanding spheres of influence may deter this. All these however would possibly reduce demand away from those sources remaining available to Europe.
Just my thoughts.
AGD62
Hello Ford707
Thanks for that. very useful. I have just atttached a link below re QEMSCAN.
https://www.sgs.com.au/en-gb/mining/metallurgy-and-process-design/high-definition-mineralogy/qemscan
ATB
AGD 62