Member Info for corradus

I was with HL and their recent fee increases and inability to trade ASX-listed shares finally prompted a change, along with their generous TYE (tax year end) transfer offers.

I moved to AJ Bell as they allow trading in ASX shares, including within an ISA / SIPP. I've been really pleased with their service thus far and would certainly recommend them.

A concern for me in making my new broker choice was being able to easily move from AIM to ASX, should that ever be required for a certain share...

I had previously already had an issue with some shares whilst with HL after they delisted from LSE and moved completely over to NASDAQ. It was not possible to trade and settle the remaining US shares within the UK Crest settlement system (not registered)... The shares were eventually moved over to HSBC Global Brokers... delays, restricted phone-only dealing, sub-broker risk, etc. I wanted to minimise the likelihood of that occurring again.

It seems like a reasonable way to preserve ISA allowances year on year for future use!

As long as you withdraw from a flexible ISA, you can now re-deposit CURRENT tax-year subscriptions in the same or any other ISA (flexible or not) and it won't count towards your £20,000 annual limit.

If you withdraw subscriptions from PREVIOUS tax years (IE money you'd deposited in the ISA in any tax year prior to the current one), you must re-deposit in the same ISA you withdrew from for it to not impact your £20,000 annual limit.

So Jrap must have already withdrawn that amount from the flexible ISA earlier in the same tax year in which it was withdrawn, which then makes it possible.

@mal111

Thanks for your reply. Appreciate it. C

I am looking to change broker from HL to one that can trade ASX-listed shares, in addition to UK, US and European shares. This, and the primary driver that was HL increasing their fees, has brought me to the point where I feel a change may well now be in order.

I'd be grateful for views on, and experiences with, either of the 2 brokers I am currently considering, namely AJ Bell and IBKR (Interactive Brokers). AJ Bell can handle both ISA and SIPP transfers, whereas I don't think IBKR can do SIPPs, so leaning towards AJ Bell...

Thanks in advance.

C

Thanks SaS. What an astonishingly low figure!

Redoing what were already (good) "best" case figures (posted 22 March) - where oil was 10% AISC - gives:

Case 0: Fuel = 3.4% of AISC (a more informed estimate) - AISC A$2198, so A$75

Gold +$100 (USD) → +A$150 margin

Oil +10% → −A$7.50margin

Gold price changes are ~20× more impactful than oil!!

Or oil would need to rise ~130% (!) to have the same impact as a -$100 gold decline...

I believe the figures are:

Trailing just below 13

Forward is about 11

Yes. There's a thread called:

Reminder - Shaun Day Presenting at 'Mining Forum Europe 2026' Tomorrow

I realise the participants may not meet with everyone's approval, but I thought this video was a good watch - if you have a spare hour over the bank holiday:

Physical Flows Signal a Shift in Gold and Silver

Andrew Maguire welcomes Andy Schectman of Miles Franklin to examine the widening gap between COMEX and physical metal flows, highlighting record deliveries and unprecedented sovereign accumulation.

https://m.youtube.com/watch?v=Rut_xqQQ8gk

Off-Topic

A considered, thoughtful view IMO of Anti-Semitism vs Anti -Zionism, authored by a Jewish Canadian:

https://theconversation.com/the-conflation-problem-why-anti-zionism-and-antisemitism-are-not-the-same-267676

Generally if the delay was going to be significant then one would expect the market to have been notified. That hasn't happened so it could be delayed a little, e.g. due to sign-off hold ups or other procedural delays, but I would not expect that to be more than a few days, perhaps a week.

Source

https://farmonaut.com/mining/crude-oil-strategic-reserves-by-country-in-days-2026

Reserves ranked by size, showing country and aporox days usage

Rank | Country | SPR Size (million barrels) | Estimated Days of Supply

---------------------------------------------------------------------------

1 | China | ~1,300 | ~60

2 | United States | ~415 | ~84–125

3 | Japan | ~470 | ~230

4 | South Korea | ~92–146 | ~110

5 | Spain | ~150 | ~90

6 | France | ~120 | ~92

7 | Germany | ~110 | ~91

8 | Italy | ~76 | ~90

9 | United Kingdom | ~68 | ~47

10 | India | ~37 | ~10

— | Australia | No large gov SPR | ~30–34

~32–34 days of diesel supply is currently held under Australia’s minimum stockholding requirement and reported stocks.

This is based on normal consumption levels and includes diesel actually held in storage and sometimes in transit.

It does not meet the International Energy Agency (IEA) target of 90 days of net import stocks (which UK also doesn't meet...)

Australia does not maintain a large government‑owned strategic crude oil reserve like the US or China; instead it relies on industry holdings under MSO and commercial stocks.

@Asherah

Gold price moves are far more significant than fuel I believe (rough calcs).

Margin sensitivity

Case 1: Fuel = 10% of AISC (more realistic) - A$2198

Gold +$100 (USD) → +A$150 margin

Oil +10% → −A$22 margin

Gold is ~7× more impactful than oil

Oil would need to rise ~70% to match a -$100 gold move

Case 2: Fuel = 20% of AISC (stress case)

Gold +$100 (USD) → +A$150 margin

Oil +10% → −A$44 margin

Gold is ~3–3.5× more impactful than oil

Oil would need to rise ~35% to match a -$100 gold move.

Oil (diesel) is likely between 10% and 20% of AISC, likely between 10-15% even.

@Everyonesawinner

As of yesterday we are still in GDXJ (as well as GDX), with Van Eck holding 11,821,388 shares, with a weight of 0.93%, hence my question.

The first RNS is wrong, as others have noted.

@Everyonesawinner Do you mean GDXJ? Or the Sprott fund?

@Doozer77

I think a higher figure would have been a more Trump-inspired figure....

Oil imports from the Gulf region in percentage terms, and absolute bpd, are approximately as follows from the sources I referenced:

U.S.

Annual imports: ~20 million bpd total supply‑equiv.

From Gulf: ~3–4% from Persian Gulf (~717 000 bpd)

E.U.

Annual imports: ~9.3 million bpd crude imports

From Gulf: ~17% from Gulf (~1.6 million bpd)

China

Annual imports: ~11.5 million bpd crude imports

From Gulf: ~45–50% from Gulf (~5.4–5.8 million bpd)

Thanks Doozer77. That's a similar figure to the one I had, hence the request for a source re: 90% figure.

@Droverman

"USA takes 3% of its oil from the Gulf, where as the EEC takes 90%"

Interesting. Source(s) for this statement please?

@Tildo

Most of it will, especially for the MVIS index-tracking at the close, but the volumes involved are large and there will be third parties — and to a lesser extent the fund itself — who will pre-position ahead of the actual rebalance implementation, accumulating shares between the announcement and the implementation, so the auction becomes more about final alignment than the entirety of the buying.