Member Info for AutumnLeaves

Speedy

'Hi We could argue the VAT on second hand silver Britts until the cows come home.'

There's no argument from me mate, I'm literally stating a fact that isn't open for argument. You do 'not' pay VAT on second hand coins from bullionbypost and other dealers, that is not an opinion it's reality. Tugmaster asked for some info on buying silver and I suggested he buy second hand UK coins because they are cheaper than new, there's 'no' VAT to pay (fact) , and they are currently free from CGT if you sell them on in future. I hope you do well on your strategy of paying someone in a different country to store your coins, but if you want them physically delivered you have to pay VAT when they are sent to the UK. If you never want to see them then that's fine, but a lot of us prefer to have access to what we own. Horses for courses and all that.

My coin for this month has just arrived via good old Royal Mail tracked 24, a second hand one, no VAT on the invoice or receipt ;) take care mate.

Speedie

As mentioned yesterday mate, you do NOT pay VAT on second hand coins as it's already been charged. I also mentioned the premium so yes, they are sold higher than spot price but so is everything else in the world by every other business that needs to make a profit, they are still cheaper than buying new. They also offer 'free' delivery but obviously it isn't 'free' because it's baked into the dealer's profit margin so that's just semantics also. My invoice says VAT = zero, and as mentioned by JSP123 below, VAT is not chargeable on second hand coins or it would say so on the receipt.

My last second hand coin cost me circa £10.00 less than buying new which is a significant saving as they are both worth exactly the same when I sell them back to BBP (they usually pay over spot for silver but offer way less for gold). Storing coins means you don't own them and you also have to pay expensive storage charges which in time wipes out any supposed savings. You can't guarantee that the company storing them will send them to you or that they will arrive when you ask for them, and just because it hasn't happened yet doesn't mean it won't. History is littered with examples of 'it can't happen' and then it does. There is a silver shortage right now and lots of silver is being stored in places that could very well have less than they claim. If you can't hold it, you don't own it, I'll stick to having them where I can control them.

Take care mate.

Speedy

'All silver including second hand britts attract vat if bought in the Uk'

Second hand Britannias and other UK coins do 'not' attract VAT mate. I know this for a fact as I buy them every month and have done for years and I live in the UK. VAT is only payable on new silver coins regardless of the country of origin. The reason I suggested he should buy second hand is for the saving of VAT and sheltering from CGT if/when he sells them in future.

Yes all the coins attract a premium, but you can still make considerable profit holding them and selling tax free when they increase in value (as I have done by pretty much doubling my money in the past 12 months on my average). Silver is still ridiculously cheap and is in high demand, and it's also affordable to most while gold is not at current prices.

To buy a 1oz CGT free coin for under £90 delivered to your door will be worth it in the long run (my opinion), and if it drops in value It's of little consequence compared to a 1oz gold brit dropping from over £3900 for a coin currently. I'm sure the Tugmaster will enjoy holding cheap silver coins as well as GGP shares :)

Tugmaster

A few companies have been mentioned below so you have somewhere to start looking. I use Bullionbypost who are sometimes a bit more expensive but very reliable when it comes to delivery and selling back to them. If you just want coins to look at and collect then there's lots of 'trinket' coins available to build up a collection. If you're considering investing for growth and tax efficiency then type in 'second hand silver' on the search page and some options will pop up with no VAT. They charge a premium but the coins work out cheaper than buying new by about £10 ish so if you buy lots it definitely saves you a few quid.

The quality is perfectly fine and you only get second hand value when you come to sell them back so it makes sense to buy second hand Britannias or other UK coins that are free from Capital Gains Tax (CGT) when you come to sell. As with all other suppliers, they are VERY short on stock and have a 6-8 day waiting period for processing orders. It doesn't seem to matter how many scare stories are put out about 'metals crashing', because the reality is there for all to see, demand is at record highs and stocks are literally disappearing off the shelves as soon as they are listed for sale.

A brand new 1 oz silver coin from BBP is currently circa £88.00 (including VAT and free UK delivery), I was paying less than £40.00 around 9 months ago so I certainly believe It's worth buying some to stash away.

Good luck out at Sea :) https://www.bullionbypost.co.uk/silver-coins/1oz-best-value-silver-coins/1oz-silver-coins-best-value/

I know there's an endless battle on these boards between what are stupidly called rampers/derampers but come on, it isn't religion, we can all have views and opinions on companies, and I would imagine everyone is here to make money. Posters will always wind each other up and some will be here for that purpose alone, but there should always be healthy debate without insult. ALBA have been awful for so many years with this project, that's just my opinion and others will think different but at the end of the day ALBA sells no gold and we are in 2026. Who's to say that £20k coin didn't go to an 'insider' using placing money to boost PR, we'll never know. The second coin failed to sell so it's not beyond the realms of possibility is it.

There's LOTS of gold in this district and we have a mine that has produced so much Gold without technology that to not produce any commercial gold now would be ridiculous. Have a peep at this, here's a presentation from a while back showing Clogau and the history behind gold mining in Wales:

https://www.youtube.com/watch?v=y0kFBOROn3c&list=WL&index=15

I hope George can do better than he has been doing before the otters move back in.

Ocelot

I think I have an incredible 12" tail, my missus thinks otherwise.

The Clogau shales don't run in straight lines through the mine area. You can follow what looks like a pay layer within the quartz vein(s) only for it to abruptly end suddenly. Lots of activity has forced gold bearing veins to literally snap off at certain points and drop deeper before continuing elsewhere (over simplification). Seeing as though Clogau is the highest gold producing area on UK soil historically (over 130k ounces from 2 mines in the region, Clogau St David's accounting for the majority), there's clearly gold in the area. ALBA have been TERRIBLE custodians of a simple, previously producing mine that requires very little input to extract gold so with a bit of luck, an actual mining company will buy the asset and extract gold. There's so much gold in this area, we just need a company adequately competent enough to exploit it, ALBA is not that company.

Esduk

Correct mate, this will be an initial conservative MRE because so much more drilling is currently taking place that will add resources over time. I think there's a cut off point for data that will be included, but I'm sure Shaun will give an outlook and progress update with some dates attached. It certainly looks massive on the graphics and as mentioned in the last drilling update, it remains open at depth so there's more goodies to come.

I'm not expecting much from the journalists who seem to miss so many key points from our updates, but the market 'should' at least acknowledge the size of this mine within a mine and add some value on the potential alone. Put it this way, if some junior explorer released an RNS saying 'here's an MRE for this massive NEW unexploited resource over the garden fence from the only processing plant in the region', they would be bagging and then some. Naturally that won't happen to us because it will just be 'GGP have extended Telfer etc' in the press, but I would expect those who know what value looks like to get onboard if they aren't already. We shall see.

Dividends are essential, show me a mature multi asset long life mining company listed on a top exchange (where we are heading) who doesn't pay a dividend. The funds and pensions invested in these behemoth companies expect and demand dividends because they are constantly paying out cash to their members in drawdown phases. The argument against them makes no sense to me seeing as though every shareholder has the option to either automatically reinvest their dividend or at least use the cash to buy more shares. Most big companies offer scrip too which means they will send you some shares in lieu of a cash payment equivalent to your holdings. Paying one doesn't mean GGP can't continue to grow, the PoG has already seen to that (and the puts as insurance).

GGP have more than enough cash to execute favourable M&A deals, and we are also the big dog at the bowl in the region so ANY finds by another company in the Paterson will be on the radar for a takeover/joint venture. As a minimum, the other companies will have to come to us asking to use Telfer to monetise their bags of crushed rock because building a plant in the middle of nowhere when there's one down the road makes no economic sense. People invest to see a return, this is not a fad tech stock or a non existent computer code that can be switched off in a millisecond (crypto), this is a tangible asset with a large workforce dominating a region the size of a city. GGP will obviously and literally pay dividends, and I expect that to happen before Havieron comes online based on the 'likely' continuing increase in the price of what we sell.

Bring on the MRE!

Nuggs

I think we had a few of these:

https://www.goldpanningequipment.co.uk/Garrett-15-Inch-Plastic-Gold-Panning-Prospecting-Sluice-Equipment

So as you can see, the production gains will be MASSIVE! ;)

That's an absolute Beast! Imagine the cost savings using a new fuel efficient shovel that can scrape up 67 TONNES in one scoop! I'm garbage at maths but it doesn't take Rain Man to see that this piece of kit will speed up loading, which in turn means faster processing of raw material. Many of us small fry PIs also use our 'limited' financial buckets to scoop up these cheaper shares when they languish temporarily. Here's a link to the technical details for that new behemoth:

https://www.cat.com/en_US/products/new/equipment/hydraulic-mining-shovels/hydraulic-mining-shovels/104540.html

Millions of $ worth of shares were bought in large chunks at prices over £7.00 per share here (and on ASX in their $ equivalent). While Gold is in a yoyo mode, GGP are processing and selling Gold & Copper for prices WAY higher than every financial forecast from last year. Our forecasts internally are based on prices much lower than we are receiving in the open market today, and the extra cash being made for zero additional effort has financially derisked Havieron with change to spare.

Telfer is quite clearly going to be adding more ounces from what we are already mining/stockpiling, and as soon as Shaun decides to add previous reserves from Newcrest's ownership that he has currently excluded from ours, there's another set of numbers for the 'analysts' to crunch. Tungsten is on the lips of those talking about REEs, and O'Callaghan's has plenty and will most likely be monetised in a deal with the USA or another government who wishes to secure a high grade supply in a safe jurisdiction.

The West Dome Deep is literally a mine within a mine, so until the first tranche of numbers comes out by the end of March for the work that has been going on there, they can play about with the shareprice as much as they wish. Any drops are bought into, this isn't a risky explorer any longer, It's basically a precious metals fund with generations of production ahead of it.

Snooze Button until March.

Yep, let's see how this 'priced in' share tracks the price of the main commodity it sells. Dropping over £1.20 when Gold fell sharply, should equal a similar gain when it goes back up over $300 per ounce before the market opens. We shall see. Free money for those who topped up yesterday and Friday.

Creamo

'No country is ever going to sell off its gold'

Gordon Brown says, "hold my beer" ;)

Another reason to be cautious about holding physical gold/silver is that when things move quick one way or the other, the little guy is at the back of the queue when they want to lock in a price and sell their coins. Here is one of the main companies in the UK that people buy and sell coins from/to. They have suspended trading while the price is low so nobody can buy coins. Read their reasoning on the top of the hompage (market volatility). They now have an 8 day delay in processing orders and have stopped accepting scrap gold and silver.

https://www.bullionbypost.co.uk/

If you don't take profits along the way, you may never have the chance to offload large portions when you want to. I like holding coins and managed to get another silver coin ordered before they stopped trading, but my exposure is 90% through GGP and I'm comfortable with that. The profits that will be made by GGP in the next 5 years will far outweigh many other investments and sectors. Roll on the West Dome Deep, good luck with whatever you all choose to do to make your lives better, GGP will surely assist in that endeavour.

And they did the same in October last year, it means literally nothing, they struggle to meet high demand (surprise surprise) so they temporarily stop processing orders until they can catch up. BBP in the UK have 7-8 day delays but they still have plenty of new silver coins and bars to sell. Supply v demand in action, nothing more, nothing less.

https://seemorerocks.substack.com/p/australia-mint-halts-all-silver-sales

The guidance is exactly where the company stated it would be, it hasn't been missed in any way and we actually EXCEEDED expectations for the previous quarter which included a maintenance shutdown. There's no operational or financial reason for these braindead manipulative 'brokers' to downgrade GGP because we are throwing off cash and lowering costs bit by bit.

It's yet again very convenient that as we approach another milestone that compels bigger funds and institutions to purchase GGP stock (probable GDX inclusion), random analysts ignore results from our record drilling campaign, ignore the lower price of oil, pretend gold and copper isn't at record highs week after week (what we sell), and ignore our debt free status compared to peers.

They read off scripts for money (oldest profession in the world does the same for money), GGP mines gold and makes insane amounts of profit, I think I'll trust the company RNS Reports instead of Andrex broker notes.

Grezzz

Get her on the payroll, she's one those who get universal text messages before the rest of the world decodes them. She may not know how or why but she's a New York Mystic Meg. Sign her up before Goldman do ;)

$5300 Gold back in sight within an hour of dropping. Almost like a load of buys come in to take the free money being offered.

A lot of this drop will simply be bought into by PIs and definitely the funds who are background buying en-masse each day (hence the £millions in delayed trades). We produce too much gold to be significantly affected by these flash drops. We make massive profit at gold prices a couple of thosand dollars less than they are today, so this is just business as usual from the ridiculous spivs pressing buttons to move prices artificially.

I can imagine the delayed trades today and tomorrow will be very large. I wonder why.