Member Info for archways

When you go home tell them of us and say,
For your tomorrows we gave our today.

speedymeadie - thank you for drawing Britannia coins to our attention. I opened an account with Atkinsons about a week ago and watched the sterling price rise to £1,495 per 1oz coin on Friday evening. When I saw that the price had dropped to £1,424 at 1.49pm today I bought some 2021 1oz coins at that price plus Atkinsons' margin in the hope that over the next year or two they will give me a better return than leaving the cash in an interest bearing account. The decision was mine, and if it doesn't pay off then it was I alone who took the risk. DYOR.

Just a word of caution. £11 million in the Bank, but after stripping out non-cash items (depreciation, amortisation, impairment and currency fluctuations) Greatland lost about £4.766 million in the year to June 2020, so if the losses for 2020/2021 and 2021/2022 are at a similar level they will eat up almost all of that £11 million. If Newcrest pay for 5% of Greatland at fair value before 30th June 2022 all will be well, but is that a "given"?

Hi Fred. You made some good choices there - well done.

GPSRF at 9.10 - having read your link it looks to me as though Sovereigns and Britannias are not free from Inheritance Tax but because ownership is not registered one can avoid the tax by not disclosing their existence. The last time I was an Executor and applied for Probate I was required to swear on the Bible that I had made a full disclosure of the assets of the deceased, so I would have thought that most Executors would not be prepared to evade Inheritance Tax in this way. Is my understanding of the situation correct?

Hollamatronic - I think that I am right in remembering that if a company which is quoted on The London Stock Exchange receives an offer from a company which is not quoted on The London Stock Exchange then the Takeover Panel will insist on the offeror giving a realistic cash alternative so that UK shareholders are not left with shares which are only quoted on an overseas Stock Exchange and therefore could be difficult to sell.

CountTheChickens - so you would need the shares to rise to £2.04 to achieve a margin of 98%. You said "when" rather than "if". Don't count your chickens before they are hatched!

Toni66 - do you have the share certificate for your holding? If so, send it to the Registrars and they will send you a cheque.
If not, your shares are probably held in the nominee account of the brokers who bought the shares for you, and they may have credited your account with the funds. Check your account , and if you cannot see the funds then speak to your brokers.
If you still can't solve the problem please report back here and let me delve further into the history of your holding. The Registrars will be delighted to hear from you because they will be holding your funds in a separate Bank account for the takeover and will want to reduce the balance to nil as soon as possible.

gothedistance - Investor81's post at 13.38 gives you the name of the company which is entitled to the issue of Greatland shares when the "Decision to Mine" is made, and the number of shares to be issued, and the monthly RNS (probably on 1st October) will tell you how many shares have been issued up to 30th September and how many options are still outstanding.
In my post yesterday I referred to warrants - I should have said options.

Gothedistance - you should be using about 4.2 billion shares in your calculation (3.8 billion plus a certain number for the ones to be issued re the conversion of warrants, all of which are "in the money", and a certain number to the company which sold the Havieron site to Greatland, which will be issued once mining starts).
One of the expert posters on this board will be able to state how many shares will be issued for each of those two reasons.

Lebugue-addick - thank you for that. Presumably an institution was prepared to sell part of its holding at that price (23.5p) to another institution.

Enrico Pallazzo - I think that Christmas IS going to be off this year if we are all going to be sensible and follow Boris's guidelines.

I have just noticed on the Trades Report that the 6,309,700 purchase at 11.40 today is designated XOFF. Can someone please let me know what that means?

I am surprised that no one has mentioned the purchase of 6,309,700 shares at 23.5p at 11.40 today. The spread was 22.50 - 23.00, and the value was £1,482,779.50. I wonder who the buyer was.

Where have you been Johhny Evans - many posts in March/April/May, then only one in June, one in August, but six so far today (unless you have posted more while I have been typing this). I am sure that you were Jonesrichard on Sirius, and I have you to thank for drawing attention to Greatland on the Sirius board. Do you manage to post under a different name on each board, and we haven't heard from you recently because you have been busy on other boards under different names? I thought that one is not allowed to do that.

Please see my post at 13.02.

Please include me.

For Capital Gains Tax purposes all your purchases are pooled, so you would add the new 50,000 shares costing say £10,000 to your existing number of shares and their cost, and then divide the new total of shares into the new total cost, arriving at a new average cost of somewhere between 0.179p and 20p. Whenever you sell part of the total holding you would use as the cost that new average price. That average price will always remain the same for CGT purposes unless you buy some more GGP shares, in which case you would add the new cost and number of shares to the cost and number of shares of the holding left over from the previous sale. No doubt that sounds complicated, but you will find that it is easy enough in practice.

Hydrogen - please do not bother to reply to my post at 22.56. Mercedesman explained the calculation in his post at 23.30.

Hydrogen at 22.09 - I am probably being a bit thick, but could you please explain how you arrived at a value of £22 million.

If your assumption is correct that you paid £30k for shares that are now worth £60k you have doubled your money. You are only allowed to put £20,000 a year into your ISA. In order to put in £20,000 you only need to Bed and Isa shares that cost you £10,000, so you are making a capital gain of £10,000. If that is your only capital gain in the tax year it is exempt from CGT because it is less than £12,300.