Member Info for buffa

My point exactly.

EXACTLY - the offer price to we mere mortals was priced in Sterling at £3.16. My broker, one of the largest in UK, is charging me £3.18+ per share. Previously they have made an error amounting to five figures which I got amended. My point is I shouldn't have the inconvenience of teaching them their job! Spoken to them this morning and their excuse is that they have dealt on ASX for these shares - intetesting since they're not tradeable on ASX yet! They have provided a number to contact to rectify THEIR ERROR. Hence why I am seeking alternative broker who are more market savvy.

Comparing Brokers atm - has anybody used a broker for their new shares without incurring FX charges. Have been considering changing brokers recently and lowest additional charges are an important factor. Many thanks.

The FT, traditionally, has not been a fan of gold so I was impressed to read their headline today - Central banks plan to boost gold reserves and trim dollar holdings.

I fully understand PI's distrust of the 'bookbuild' system but it happens quite frequently when Companies want to attract II's major investment. In this instance GGP have allowed PI's to act as an II and gain from their discount. The massive II interest would normally indicate II buying after listing on ASX - we'll see soon enough. As for PI allocation the wording of the RNS suggests that subscribers may get most of their requests - again we'll see soon enough.

I agree that it is unacceptable for Metro to be silent on possible offer given the rise in SP, the press speculation and the talk that approaches were made two weeks ago. What is actually going on?

I've posted before that dealing in physical gold is 'interesting' in the UK because the metal is traded in dollars (USD) on world market but obviously traded in UK in £ vs USD. With Greatland Resources we now bring Australian dollars into the equation. So why is GR good for Australians? Well it's a method for ordinary PI's to hedge their currency without thinking about it. Simplistic example - suppose GR existed on 1st December 2022 and was trading at £1.00 here in the UK. On ASX that translated to AUD$1.77. Fast forward to 1st May 2025 and suppose that GR was still trading here at £1.00. On ASX that would have been AUD$2.09 ie the Ozzies would be sitting on an 18% increase in their share valuation. To me that represents a no-brainer for Ozzie investors given the potential for GR as a growth Company allied to a steadily devaluation of the AUD$ vs £ over time. No wonder it's oversubscribed down under.

When considering holding DPM shares i weigh up three aspects - namely the future prospects of that Company, secondly the FX consideration - balancing commodity pricing (usd) company pricing (cad) and personal currency (£) and thirdly dividend - from memory i believe that Canada imposes a withholding tax of 15% to UK dividend payees. I will hold for a hopeful second bidder else sell out before final takeover. I believed from long ago in the ADT1 asset but I don't assess DPM to be as good - otherwise I would already have been invested there.

Am fascinated to see how this plays out on a number of levels. Book-building is more normally encountered for an IPO. Secondly, for a successful operation, it usually measures how much the II's are willing to pay per share - they would expect to pay less than PI's. So I wouldn't be surprised to see the GGP ASX initial price at a discount to current SP - it should place a 'floor' under the SP which then takes off once trading restarts. Once trading restarts it becomes even more complex due to FX differences since the business trades, simultaneously in 3 currencies - usd, ausd and £. On top of that the mine is in Australia, and the workforce will be paid in local currency etc - buckle up for inteteresting times.

Watched an interview with DPM earlier this week in which they showed how much cash they had on balance sheet. I don't think the takeover cash element will worry them too much - it certainly hadn't seemed to worry their shareholders either. As I previously detailed i strongly believe DPM have played a blinder by getting ADT1 on the cheap - a veritable steal.

Nevertheless it is interesting to note that DPM are selling this deal to their own shareholders (who seem to be buying it) that production ramp up will happen without problem. Someone is telling porkies. If I didn't know better I would presume that ADT1 share price was walked down from 220 to 178 in order to make a takeover on today's terms look more beneficial.

All the RNS hype is based on the SP back in May when Adriatic hit an eight month low of 178p whereas in March the SP was ca 220. Also, of note, is the increase in the silver price of ca 12% since the 19th May. So well done DPM!!! At the current offer price they have played a blinder basing their calculations from a low SP based and ignoring subsequent increase in the silver price. My view is that Adriatic is being purchased on the cheap by a very clever DPM who knew exactly when to make their offer. Unfortunately for normal PI's the large II's and Company directors average purchase price of ADT1 shares is very low and they are, naturally, keen to sell out at a price which provides them with a lucrative quick return of at least 100% - often more. They have no interest in building for the future which is why do many foreign companies buyout UK listed ones.

Adriatic are not a distressed company that needs a takeover to survive. If you take any notice of the market views of the future potential for massive price hikes in silver it makes Adriatics future SP very bright. My view is that the proposed deal is daylight robbery and I'm surprised it's not already rejected. Unfortunately I believe that the II's will outweigh we smaller fry and vote for acceptance.

Silver price surging and technicals indicate much further to run.

GGP is a well managed Company with great assets. The shares atm are traded on AIM so subject to erratic price movements as standard. About to list on ASX which will be a big stabiliser for many reasons imo. If you believe, like me, that POG will keep increasing as fiat currencies decline then a low cost gold miner is your future hedge against general market collapse.

Just a couple of thoughts....once listed on ASX GGP will be traded an extra 6 hours per day and secondly atm on AIM our market cap is ca £1.6bn. Assuming the Aussies want to buy in (why wouldn't they?) then my assumption is that would be positive for SP. As an investor (not a day trader) I am judging a collapse in the Fiat money system which would be positive for gold (+ve for GGP). With a stock market crash - due to unaffordable debt levels - I would expect all stocks (including GGP) and gold to fall (-ve for GGP) but gold recovers quicker and presents buying opportunities at lower prices (+ve for GGP). That is my outlook fwiw.

Predictive text. Havieron.

My view, fwiw, is that management sitting on hands hoping for approach from GGP given proximity to latter's Telfer/Havering holding. May happen but without good drilling info not immediately likely (imo). Small explorers are high risk plays.

Agree there is no CGT at present(!!!) on Britannias but I considered buying 10 1oz coins for £25,407.22 from Hatton Garden Metals this morning (POG £2,456.15/oz) compared to 10 1oz bars for £25,332.30. Buying the bars is potentially a better investment, claiming CGT allowance of £3k pa, until POG increase exceeds ca £500/oz or so. Long term my view is that POG will vastly exceed £3000/oz but you can anyway mitigate annual CGT allowance by partial gold disposals, annually, within the allowance limit.

Agree there is no CGT at present(!!!) on Britannias but I considered buying 10 1oz coins for £25,407.22 from Hatton Garden Metals this morning (POG £2,456.15/oz) compared to 10 1oz bars for £25,332.30. Buying the bars is potentially a better investment, claiming CGT allowance of £3k pa, until POG increase exceeds ca £500/oz or so. Long term my view is that POG will vastly exceed £3000/oz but you can anyway mitigate annual CGT allowance by partial gold disposals, annually, within the allowance limit.