Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Expert. I am getting somewhat irritated by your sanctimonious posts on this board. You tell us that you have lived all of 9 years abroad, in Sweden if I recall, and now live in an English speaking ex-UK colony in the sun for 'tax efficient' reasons from where you have the temerity to pontificate on your minority view on Brexit, on our NHS and now on personal charitable donations. I donate to charity each year, covenanted, to my Church, the Salvation Army and RNLI. How much is a matter they will not disclose and nor will I because I do it for charitable purpose, not to feel good. Please keep to the subject of this board which is BMN. Compos.
I came to BMN through LSE, having read a recommendation from someone (RK, BBN?) on the BEM board or maybe JLP. With interest rates minimal I put available funds into shares. I was making 10% per year but became frustrated that I was not making gains on dips in the share price as well as the upswings. A big mistake was to listen to a 'broker' who, after about a year, proved two things to me; firstly he was the only person making money out of our relationship; and secondly the old maxim 'a broker is someone who will invest your money for you until it has all gone' is indeed true. As their time has come right I have gradually sold and moved my share holdings to BMN. My current holding is probably almost entirely due to the excellence of this BB and I cannot thank you enough for this. The stalwart members of this board will always get my support against the trash that occasionally infests it. Compos
Well said Ophidian. It is interesting to see that over the years the emphasis of the trolls has changed from attacking the Company (difficult to do now that production figures are so good) to attacking this BB by downgrading it with misleading information and finally attacking long standing members of it. Cindercone's attacks on you have indicated to me for a long time that he is a disruptive element who purports not to be by posting reasonable posts every now and again. Which is why I have filtered him. Keep up the good work. Compos
A Happy New Year to all. A random thought; as the FTSE 100, FTSE 250 and AIM have all lost ground in 2018, do we have an II who needed to balance books by 31 Dec and who had invested in a share (BMN) that had made a lot of profit; and decided to sell some straightaway (ie in a non-orderly fashion) in order to balance the books? And then they buy back in in the New Year? If so, the poster whose name begins with C who seems to predict MM behaviour should now be promoting BMN because the 31 Dec deadline is passed. I blame the G&T this time. Compos
Ophidian. I do agree that this board can become petty and incestuous. I have made only a few posts because I feel I will be thwacked like whack-a-mole or sent to the naughty corner and I can't be bothered with that. However as a long term holder and follower of this board I value your input which is one of the essential building blocks of the information base we have here. So you are not allowed to leave! Compos
Ophidian. As others have put forward their interpretation of the events regarding this RNS, I will add mine. I see this as a classic example of a Nelsonian blind eye. Was the action taken in the interests of the Company and the shareholders? Yes. Did FM know about this regulation? Clearly he did. Under the circumstances pertinent at the time and as the person responsible at the time he followed a course of action which bent the rules. My take on the censure is that the fine perhaps reflects the deliberate nature of the rule breaking, but the words, including the passage on value to shareholders, tell a different story. As someone has said before, a slap on the wrist now move on. But given a choice between a leader who does this and Mrs May there is no contest. Compos
Tonny. I gather from your use of English that you are Dutch. If so I have no problem with you being proud of one of your country's businesses but will respectfully remind you mijnheer that this BB is not the place to ramp up that Company. Niet meer a.u.b. Compos
YTSS. My advice is to maximise the tax advantage of your and your wife's ISA by filling hers upto the maximum in this year. Once the allowance is gone you cannot get it back. The same with CGT. BMN is a volatile share going only one way. You don't know how much leeway you will need when selling shares next year, for Bed & ISA maybe, so maximise your options by selling in this tax year to give yourself a high share price going into next. Choose your time - I wouldn't sell anything just now with so much good news coming - and buy back straightaway (bearing in mind the 30 day rule and that you have two accounts).I hope the pastis has not blurred my message. Compos.
Madasahat. I'm in Wiltshire but acquired a taste for pastis whilst studying at the Sorbonne in Paris some years ago now; my Waitrose does a cracking bottle by Henri Baudouin. Regarding the conundrum, I used sheets of paper trying out different scenarios based on assumed SP to minimise tax and maximise quantity transferred next year into ISA's. The answer I came to was, as Alfacomp said, sell in this tax year (if you think you have to) to 'use' your CGT allwce leaving the best chance of avoiding overstepping the CGT allwce next year when you bed and ISA. Just watch the 30-day rule. Bonne chance. Compos
Madasahat. Snap. I have maxed out my ISA and my wife's ISA and want to move remaining shares in trading accounts into ISAs next year. The issues for me are avoiding going over the CGT limit in both accounts and keeping within the ISA limit next year (20k). After many iterations and glasses of wine my conclusion was to sell in this tax year (if you have to) to maximise tax efficiency, thus allowing some leeway in your capital gains next year when you bed & ISA. That sounds unintelligible to me - its that pastis again - but I hope it makes sense.
Compos
My random thought for the day: I can imagine the SA environmental assessment includes restitution of the land after mining and possibly the cheapest way to achieve that is to pile the majority of the spoil next to the hole it's going back into. Or perhaps this is of minor consequence in the scale of operations?
For me the key to two puzzles is the new Mining Charter. The first, why are there no RNSs yet to move the share price up and the second the unexplained slip by Mikhail shortly after the last RNS announcing the money raising when he, I believe, mentioned a figure of 69% not 74%. Fortune and Mikhail should be closely involved in what must be a major threat/opportunity to Bushveld, namely SA politics and must have been aware of what was in the draft Mining Charter before the RNS was issued. Raising the BEE to 30% reduces Bushvelds share from 74% to 69% and would ensure that no buy-outs or spin-offs will happen until the Charter is fixed. Wouldn't it?