Member Info for AngelsOneFive

There can’t be many £2Bn companies with such an easy to describe business. They dig up coal in South Africa, transport it by rail to the coastal port and sell it to buyers who transport it away on ships.
In theory a fairly straightforward thing to analyse.
1. Mining operations (costs, weather, staff, politics)
2. Rail operations (we’ve all heard about the Transnet woes)
3. Port operations (thanks to whoever updates on the marine traffic)
4. Price of coal.
5. Decommissioning costs at end of pit life (I think the piggy bank was topped up for this already).
The non SA tax take means I only get 80% of the dividend here in my UK ISA, which is a negative, but I tell myself that the tax is my contribution to levelling up.
I’m holding until I think the company is widely enough recognised to give it a fair value one way or the other.
A full year dividend history should work wonders with the visibility if it’s as high as I expect.
atb

@Trek 07.45
Booom indeed!
I trust all have had a profitable day.
atb

Yes, my understanding is a £50M buyback over 2 years? with Jeffries brokers having a green light to buy £25M in 1st 12 months, of which we are now 2 months in. It’s a while since I read the detail. At least the company is ahead on the deal.
ATB

We are 2 months into the 12 month £25M share buyback.
Now at 2.6M shares bought at a cost of £4.55M and an average of 172p.
That’s just under 1% of the 287M shares in issue.
Nice & steady.
ATB

We’re 1 month into the initial 12 month buyback being operated by Jeffries with a maximum £25M spend.
They have now announced purchases of just over 1 million shares at a total of £1.815M. Average 177p each. At this rate the buyback will take the full year allocated.
atb

Of the six trades today, the first was mine and the other 5 all went through within 10 seconds of one another at 12:34.
Is that usual? A mix of ordinary and automatic trades. All showing as buys.
atb

I’m with ii having been merged in from Alliance Trust Savings a while back. ii do seem pretty well organised with dealing on many international exchanges. You do get the odd glitch, like today when I suddenly “had” an extra £0.5M after my Amazon shares (stock split x20) total were updated before the US market opened and they appeared to have 20 times the value! Was nice while it lasted.
Doing my own SIPP has been a bit of an education as various companies have moved domiciles, or like BHP, come out of the FTSE (but still London traded) meaning that dividends come from Australia and (I am told) don’t have any withholding tax, unlike say Nestle in Switzerland where I gather it’s over 30%. Not any sort of expert on this topic, but learning as I go along.
BHP certainly has some interesting prospects. Ian Cowie piece in yesterday Sunday Times flags up the potash opportunity from their Canada mine.
atb

Trek was here until about 700p then he bid us farewell and moved on. His comments generally make sense and offer good insight. I’ve seen him comment recently on TXP (for prospects) and GLO (for yield).

I’ve not previously been in a small(ish) Mcap stock that has moved up so far and so fast. x10 now from the low last June. There’s a tendency to assume it must be overpriced simply because it has risen so far, but maybe it was just listed too cheaply and various political factors have now moved in TGA’s favour. If I had newly discovered this high yielding share I could easily conclude that it is worth parking some ££ here. Simply for the divi if not for capital growth.
atb

Hi Andy, don’t worry. Assuming you bought through a typical broker account or a SIPP/ISA they already “know where you live” as it were and your dividend payment will arrive automatically into your account. The main thrust of recent dividend discussion on here has been regarding whether there is any way as a UK shareholder (shares held in a broker nominee account) to avoid the partial loss to the SA taxman from the withholding tax.
atb

I’m resigned to losing the tax on 10% of the divi which will go into the coffers of the SA government. Maybe they can spend it on a better railway.
I’ve previously considered whether I could sell and repurchase either side of xd date, but even at £3.99 a trade I can’t beat the combined costs of spread, stamp duty (I’m assuming 0.5%) and dealing. That’s assuming 10% of a 10% divi = 1% of the share price. You also need to be sure the SP will fall by 10% too at xd.
As others have suggested, many foreign holders would be better served by a share buyback to boost the SP rather than a (taxed) dividend. I’m assuming a buyback would avoid the tax hit.
Very pleased to see £10 today.
atb

Like diamondman I’m also in TGA via Anglo and I was only in Anglo from 2016 as I bought into the yield (trap) as the SP deflated before the divi was cancelled. Now up over 600% on Anglo in about 6 years. I wasn’t quick enough off the mark here, but I guess there will be a few up about 600% in 8 months.
I’m pleased to see the financial sites now showing the TGA yield at over 10% so that will bring a few more yield hunters to the party. atb.

I think Sustain makes a good point.
Majority shareholders could indeed make a tender offer and take the company private so long as they could stump up the cash. They could use their incoming jumbo dividend for this purpose, assuming it’s paid.
I was bounced out of JKX Oil & Gas by such a tender offer last autumn. (Ukraine oiler - oh the irony to be bounced out)
There are rules about how to pitch the tender price, but a depressed share value leaves open the possibility.
That said, this is so fast moving as a situation, I don’t think it could happen in the immediate future. All it takes is for one of the major holders to be sanctioned and their shareholder majority and voting influence is then suspended.
I’ve got but a small holding here.
What will be, will be.
atb

Hey Golden, don’t worry, soon you’ll have enough material for your bestselling Diary of a Nineteen Year Old Investor (if I recall your age correctly). You’ll be learning fast in these markets. I learnt my lessons on Coloroll, which made fancy wallpaper in the 1980’s (until it didn’t). I had a real worthless paper share certificate, though!
This board is so busy today, it’s almost a full time job keeping up.
atb

Evraz closed on Friday Feb 11th at about 440p and opened on Monday 14th Feb at about 286p. I think it’s reasonable to assume that anyone buying on the Monday at the lower price will not be getting the RASP distribution, whereas anyone selling on the Monday 14th shares which they already owned on Friday 11th would indeed receive the RASP distribution (eventually) having already suffered a 154p drop in the share price as RASP was hived off over the 11-14 weekend.
atb

My concern with this share is the level of free float (57% on marketscreener.com).
In normal times that should make no difference, but as I understand it, it lowers the bar should the major (Russian) shareholders decide to delist the stock and take it private with a tender offer. I was recently bounced out of JKX Oil & Gas in just this fashion, although as the JKX operations are in Ukraine & Russia that may turn out to have been a blessing in disguise.
My feeling is that any sanctions on Russia subsequent to a conflict in Ukraine might precipitate action, seeing as so much of the Evraz operations are in Russia.
I’ve only got a limited exposure here atm, but the attractive yield would tempt me if I could ignore the (political) risk. atb

Thungela allocation was one TGA for every ten AAL. So initially was about 150p (from memory) TGA for maybe £300 of AAL. (Equivalent to about 20p per Anglo share)
There was an activist note around the time of the demerger claiming TGA had no value due to the cleanup liabilities/stranded assets argument. Haven’t heard anything since.
I won’t lose my job if I invest in TGA and it somehow goes south. It won’t be the same situation for a professional fund manager.
atb

If it wasn’t for getting a few shares in the Anglo demerger of Thungela there is zero chance of me firstly having noticed TGA and secondly investing. The yield is still showing as 0% due to a lack of dividend history, but TGA itself is guiding that it expects to make a fairly decent payout.
Recent discussion here had consensus at maybe 50p (with a wide spread of suggestions)
They dig up the coal, transport it to the port and sell it. Some questions about transit system disruption after thefts and end of life clean up costs (they have put cash aside for this) , but at some point soon they will have a long enough track record of stable operation and we will have a clearer understanding of dividends and the market should properly rerate. atb.

Hi Skittish,
As you might have said, a picture paints a thousand words.
Good work.
atb

I’m a HE1ieber!
Like almost everyone on here I’m not an expert in drilling for Helium under Tanzania.
I’m simply banking on HE1 knowing or learning what to do, or contracting in those who can.
Everyone on here has an agenda, whether they admit it to themselves or not. Genuine HE1iebers can ride out the SP falls in the expectation that eventually the truth (ie. gas) will out.
Those wanting short term + or - SP movement will always be more excitable in the hope of achieving their aim, but I suspect that will be a lot of effort for little result.
Everyone who wants to be on board for 2022 has now had their chance to be in this year at around 10p or better. Good luck all.