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All day I have been tuning into this stock up to £2.00 (joy) down to £1.65 (despair). All that tension and worry only to arrive back where we started. Regardless of the II being blocked, exclusion from the Russell indices, and the lack of liquidity, this share should be plus £2.00 pending a resolution of the war. Note to self: stay away from the screen.
You can't have capitalism without property and you can't have property without a formal recognition and enforcement of ownership. If governments around the world decide on a whim what to seize from whom based on political agendas the system cannot survive. Wealth will be hidden and parked beyond the reach of governments. Meanwhile regular investors and consumers will suffer the consequences. How many UK politicians have partied on yachts or been entertained at football matches at the expense of Oligarchs? Have we learned nothing form the disastrous Proceeds of Crime cases?
This is like flying in a Boeing 737 Max. God alone knows where it will settle, everybody else is speculating. However, the long-term prospects for gold and pms in general are very strong if inflation takes hold and there is macro volatility. If we make it through the storm we could land a bumper catch like the seafarers in a Perfect Storm....then again. GLA only the brave deserve the fair. On the plus side we are able to contemplate the market without Northscot shouting abuse from the sidelines.
Into, me too. On II it say sp 140 down 82p. How can you trade when the prices quoted are unreliable?
ND amen brother. This train wreck has had me glued to the screen for over a week, investing more each time I thought we hit the bottom. You get in too deep and figure 'what the hell I'm in up to my navel why no go a bit deeper'. Better by far to put away and forget for a while. Death or glory. The fundamentals still strike me as compelling but there are a host of unknowns that make this share a real crap shoot. GLA
Like blood diamonds?
The international Institutions founded after WW2, IMF, World Bank, NATO, G7 and even the UN have had a distinctly US + Western European bias. Countries in Asia, the Middle East, Africa, South America and Russia have rightly felt excluded. Trump was deriding NATO as useless while President complaining that the US were paying to keep Europe safe. Meanwhile all US foreign expeditions have been green lighted by the Security Council. After the illegitimate invasion of Iraq and the disgraceful scenes at Kabul Airport our credibility has been devastated.
I am not picking sides merely pointing out that the situation is not binary. Putin is not an evil dictator bent on world domination while Biden is not a kindly old man willing to stand up to tyranny. It is not a bloody pantomime despite all the barracking from the cheap seats.
Ref Polymetal: I still can't execute a purchase on II despite spending hours online placing both 'fill or kill' and 'best price' orders. This market is not functioning as it should. The only buy trades being executed are small ones. I smell a rat. The MMs are making money on spreads and by limiting transaction sizes. GLA.
Spent the last half hour trying to buy £3250 worth of Poly without any luck. If willing buyers are unable to execute trades the market is biased to the downside. Complete racket.
Can't buy on II so am stuck where I am. No possibility of doubling down. Rigged market.
Buckle up it is going to get bumpy. GLA
Everybody knows the apparent risks facing Poly. There are also unimagined risks, unintended consequences. If the war had caused a nuclear meltdown stock markets around the world would have blown up. What if North Korea used the current situation as a pretext to attack South Korea? What about China's role? I suspect the dividend will be partly paid and that the BOD will very sensibly retain funds to secure the future of a well run, competitive company operating within a buoyant sector. What if Central Bank suppression of the gold price was revealed, the dollar collapsed and gold hit $3000 an ounce? There are so many more interesting possible scenarios than banging on about the dividend.
Most investors in Poly have a longer term horizon than May and I would certainly forego the announced dividend for a recovery in the share price. GLA Monday will be interesting.
Yea and Prince Andrew is physically incapable of sweating.
WW. The tone of your post implies that the government is in power. The financial peccadilloes of our elite including, but not limited to, Blair, Cameron, Osborne, Johnson, Patterson, Kinnock and Mandelson indicate that our political class is for sale to the highest bidder. Policy is written by Big Banks, Pharma, and Tech Giants to serve their own interests to be rubber stamped by whichever dignified figure head is notionally in charge at the time. Fiat justitia ruat caelum.
If we were going to go to war surely it would have happened when the Russians invaded Kensington and Belgravia? We are bought and paid for, we beat our chests in vain like Lear before the storm.
Pointing out that I have shat myself after the event is not a revelation. Why don't you desist tormenting people who have lost a bundle? Can't you watch daytime TV or go for a walk? Those who say they know what comes next are FOS. Those who say they know, know nothing while those who know, say nothing. Same old game; we are sand before the wind.
Discussion on this board is descending into childish triviality. In future there are those of us who will say 'told you so' and their counter-parties claiming foul play.
Personally I am looking at a major loss meaning that last year I worked for nothing. So be it, you pay your money you take your chance. However, there are innocent people in Ukraine with far more invested in the current war than money. Perhaps a little sober reflection is appropriate rather than the 'I'm right your wrong you'll see' BS that is dominating discourse.
Good luck to all regardless of your persuasion. Personally I hope the situation can be resolved without unnecessary further bloodshed and dislocation, notwithstanding my own finances.
Currently looking at 55K plus loss and scratching my head. I have never seen a viable, profitable company with a competitive advantage operating in a international market in a commodity priced in USD behave this way. My conclusion is that the market has been manipulated for political and economic reasons rather than genuine price discovery. At these numbers Poly may as well take itself private. Alternatively Glencore, BHP, Rio or one of the gold majors would certainly step in if they were not barred from doing so. I also hold BP and am livid that BJ, that OE cretin, saw fit to force a private company to jettison a profitable endeavor to curry favour with our US overlords. BP has been hit by windfall taxes previously. Two years ago it lost circa £ 25 Bill. Obama wiped about £50 off the balance sheet for an accident caused by a US owned and operated rig and concrete poured by the company whose former CEO happened to be the last Veep. Now BP suffers adverse publicity due to green propaganda and is forced to back hair-brained renewable schemes to placate the climate lobby. Meanwhile, the costs of fuel are rocketing and Europe is still largely dependant on Russian oil and gas. The world is mad and corrupt. The elites have only their own interests and egos in focus. I despair.
Sad to say this was my main holding and I am sitting on a very painful loss. I have been looking this morning to either buy more or, ideally purchase a call option. I can't find any contracts on ICE. Can anyone suggest a way to bet on a bounce? I know I can spread bet but I also want to shield myself from downside risk.
Then Lloyds acquire an income generating asset on their BS without a reduction in the number of shareholders, rather like the collateral it holds in mortgages. However, the optics would be awful and Lloyds is a high street rather than merchant bank. The success of such a scheme could be determined later based on ROI (income and capital). Some companies have pursued a similar policy in respect of Bitcoin or via prop trading because they see the potential returns far outstripping their profitability. In this instance the company ceases to be involved in the transformation process or service provision and becomes simply a derivative of another market e.g. MicroStrategy.
Give them time...The key word in my post is"if", as per Kipling and the Spartans' reply to Philip II of Macedon.