Member Info for fromage

Does not a market maker sell and buy? Presumably he does so in the expectation of making money, so I see that as similar to your punter making money by selling when he thinks the price is too high. Perhaps MM trades should have their own category other than buy/sell, or have a code other than "O".

Pinch of salt on buy/sell assumption. One of my buys in the past was clearly reported as a sell. But if someone is buying, someone is selling, by definition.

It looks a great future, there are expansion plans, and my guess is that underground mining will need much in the way of expensive equipment and manpower. But so did Sirius Minerals have a great future, and when more funding was needed the company sold out to Anglo American who gave me £ 1,300 for my shares worth £ 11,000 before. My vote (and the other PIs') was of course overwhelmed by the people running the company.

While I am not saying the same thing will happen here, caution is needed. SSX was a bigger company, too, about 10 times the current value of BEN I believe.

I sold all my shares at year end (at 301) because of disappointing performance, and while the price now is a bargain (if the company and Ukraine survive) I see no reason to come back when other shares maybe had at better performance and less risk.

I am assuming HWMs do not operate in underground tunnels. If the higher quality coal is underground, do they have squads of moles with pickaxes? Good news for now, but that could be a different high cost scenario.

@lacrosse
I too had my sirius shares stolen from me, but on the bright side the robber did put us on the start of the thungela ride.

Realised and fretted over the weekend that CAML may be suffering indirectly with silly sanctions, so this morning sold after a drop and put the proceeds into BEN (on the peak). What a crazy time we live in.

Nice to see you back. I was about to suggest we all had a whip round to let you get back in.

No, I have worked out my holding as a percentage of the shares issued, and I don't have to declare.

It's all very well to say that there is protection in diversity, but that implies you should buy a tracker. I am looking to do better so I will keep what I have, and have been buying throughout the climb without selling. My experience of rock solid dividend payers is not good, as price is more important than dividend. I am not saying the price will go higher, though that is what I expect, but it seems to be a good prospect in a good sector right now, and I am happy with that.

Took today the opportunity to sell some house builders that have disappointed, and topped in with Ben at this price.

Thanks for clearing that up : I AM the beneficial owner (I have found the gov.uk definition <https://www.gov.uk/hmrc-internal-manuals/international-manual/intm162080>) so it should be 10%. However, I fail to see how a CoR sent to Thungela will help, as I am just an unknown small part of a dividend payment they make to the shareholder. I think in practice I will have to claim the excess back from IR in the foreign income part of a tax return , so this will be at the end of the tax year I receive dividend. However, as I am PAYE (IR having previously refused my application for self assessment) I will have to "register by 5 October following the tax year you had the income." <https://www.gov.uk/tax-foreign-income/paying-tax>. Assuming there is a dividend post Apr 4th 2022, that means register by Oct 2023 and a refund might arrive in 2024. I could be dead by then.

What a palaver.

If, Gubby, you are an actual shareholder with a physical share certificate then you are doing the right thing. Unfortunately for me I have my shareholding via an investment platform, and that is the legal owner. Thungela will have no record of "me" so they could do nothing with any CoR I may send them.

The other factor is that the investment platform (the owner) could not be described as "a resident of the UK", so may not be eligible for the reduction of withholding tax. It seems to me these international agreements need revision for nominee shareholders.

Rather that a bbq for grilled squirrel, he is more likely to be buying tons of agent orange to battle through the kudzu and actually get to his mines. When I passed through the area I was appalled at the way kudzu is so rampant there, unstoppably smothering and strangling everything.

There may never be a dividend, you do not know until one is declared. For those companies that pay dividends, September seems a popular month (in my shareholdings) but certainly not related to their financial year or the UK tax year.

@Gubby I don't think that extract you just gave applies. "In these circumstances" is for a UK incorporated company, and Tungela is incorporated in South Africa. Your Thurs 19:51 HMRC extract is I think the relevant one, but there is a snag. It refers to "beneficially owned" by UK residents, but I am not the owner of my shares, as I have a nominee trading account. Although I am the beneficiary I am not the owner, so we may be at the mercy of our investment platforms.

Perhaps we will have to suffer the loss and attempt a claim back from the IR.

"no dilution is good for all"
I thought the $6M CLN will become on conversion over 11M shares, and that represents more than 3% dilution.
But we all feel, I guess, that it should be worth it.

I have been advised by AJBell that they (or South Africa) will be withholding 20%. What do I do to get that 10% ?

@DropD and CaptainHaggis : Thanks, and silly me, I missed it. The banner is too big!

Sorry to add to an irrelevant thread, but how do I create a new topic/thread? I can't see it.