Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Previous DCU payment went into the ISA. This one has gone into trading account. Have spoken to II to voice my ‘disappointment’ but don’t hold much hope for them changing the landing point for this payment. They claim they will be fined by HMRC if they pay it into the ISA.
Have lodged a formal complaint to make myself feel a little better!
Interactive Investor
Credited to my trading account rather than ISA
Not happy!
I’ve been thinking about the CGT impact on cash receipts from the DCUs following transfer out of an ISA.
Surely the DCU was part of a 12.5p consideration for each of the shares in HUR that took place inside the ISA wrapper. Accordingly, when the DCU is transferred out of the ISA it should be transferred at a value equivalent to the NPV of the 6.48p it represents. HMRC are keen that transactions be ‘arms length’ and that would surely be the case here.
Worst case scenario would be to receive 6.48p in 3 years at 5% discount = 5.56p value today. More accurate phasing of payment expectations would lift this figure, but it would not go down.
This would reduce any gain to the surplus over 5.56p/DCU.
…….or am I dreaming?
Anybody out there still reading this forum, I would be interested to hear your take on it.
All my opinion, this is not financial advice. DYOR
ii have sent me voting docs for EGM to sell our company. For what it’s worth, I have voted ‘No’ to both proposals.
Check your inboxes. Don’t miss the opportunity to have your say.
DYOR
Please add my 1,777,798 to the list of no voters
Senseman
You are completely right.
If I buy 43m shares for £0.01 and subsequently sell them for £1.01 I bank £43m profit. If I then buy shares for £0.067 and sell same for £0.067 I still bank £43m overall.
‘Bank’ means cash in the bank ie realised profit.
No need to be abusive though. If peeps want to misinterpret facts, for whatever reason, they are entitled to. This is a forum, not a fighting pit.
All in my humble opinion
GLA DYOR
The narrative from note 5.2 explains why the lease commitment has been revised upwards
“The Group's main lease is the bareboat charter of the Aoka Mizu FPSO for which the Group makes fixed payments (which are included within the lease liability measurement) and variable payments (which are based on a percentage of the quantity and price of crude oil sold, and recognised as an expense in the period in which the related sales are made - see note 2.2). Variable lease payments for the period were $12.9 million (6 months ended 30 June 2021: $11.1 million; year ended 31 December 2021: $20.5 million).
The lease term for the Aoka Mizu FPSO was previously assessed to have been six years from inception of the lease (to June 2025), taking into account extension options and termination arrangements. On 4 June 2021, the Group announced it had resolved not to exercise its option to extend the bareboat charter of the Aoka Mizu FPSO for a period of three years from June 2022 to June 2025. As the Group had elected not to exercise an option previously included in its determination of the lease term, the lease term was assessed, for IFRS 16 accounting purposes, to be expiring at the end of the contractual period (being June 2022), and therefore the liability was remeasured by discounting the revised lease payments. This resulted in a decrease to the lease liability of $67.3 million, decrease to the associated right-of-use asset cost of $18.2 million and a gain of $49.1 million recognised in profit and loss in the Group's 2021 Annual Report and Financial Statements (note 5.2).
On 25 March 2022, the Group announced that it has signed a contract with Bluewater, for an extension to the Bareboat Charter beyond the previous expiry date of 4 June 2022. The extension is expected to cover the remaining economic life of the Lancaster field given the significant economic incentive for both sides to extend the lease based on the current forward price curve and production profiles. In accordance with IFRS 16 the liability has been remeasured by discounting the revised lease payments covering the economic life of field. This resulted in an increase to the lease liability of $54.5 million (above) and corresponding increase to the associated right-of-use asset cost of $54.5 million (note 2.3).”
I’m in
Sense man
Shares in issue 1992m
Senseman
A bit harsh, don’t remember ever attacking anyone. Are you upset because I questioned your maths?
Senseman
In your calcs where you have attributed 10p/share for the tax losses, have you taken account of the fact that 500m of them have already been used up by the 500m cash profit?
Bobat123
Can’t see that in the trades. What would be the point in holding back the price, nobody is buying or selling looking at the volumes.
MMS make their money on the spread multiplied by volume. Nobody is gonna get rich on the bid/offer spread of a few million shares.
We need some activity to stimulate a bit more interest.
At the moment it seems to be just us long suffering LTH’s that are sat on the sidelines clutching our share certificates hoping somebody will ask us to dance. Let’s hope we don’t end up as wallflowers
GLA DYOR AIMHO
Bobat123
836k shares equates to 0.04% of the equity lol.
Hardly a ringing endorsement that the company is going stratospheric
I’m holding much more than that and I’m just having a gamble!
GLA DYOR AIMHO
This got very deep very quickly.
I was only a bit curious as to why we had seen the drop yesterday morning and all of a sudden we’re opening concentration camps for the un-vaccinated!
How can we be nearly 10% down on c£77k of trades?
This stock is just plain bonkers!
DYOR AIMHO GLA
Is it just me or is this a straight cut and paste from another post?
It all seems like the same old pontificating crap with no substance behind. Why oh why do people recommend this ****?
I’ m starting to lose interest in this board. It’s getting more full of verbal diarrhoea by the day. If you can’t think of new words to post, don’t bother posting.
DYOR AIMHO GLA
People filling up on the cheap lol
NGR1616
Give your head a wobble!
People seem to have been ‘loading up on the cheap’ for over a year now. You’d think the market would notice wouldn’t you?
DYOR AIMHO GLA