Member Info for FSA_63

Interesting.... I thought Reddirt might have been CB!

The last week (and in particular the amazing efforts by Hydrogen and others with regard to the GDXJ affair)has shown more than ever how powerful this board can be when we work together.
Unfortunately, the more successful this board becomes the more we seem to attract a number of posters with an agenda who aim to:

Deramp (e.g. 9inchNail) - easy to spot and filter

Disinform (e.g. Greenfool) - slightly more subtle with quotes taken out of context or from outdated sources aimed at disconcerting new or inexperienced investors.

Disrupt (e.g. the new poster this morning who made an attack on the integrity of one of the board’s longstanding contributors)

Of course it is tempting to try and engage them and refute their arguments but as soon as we do that we hand them a victory as threads with negative headers extend over dozens of posts and the board becomes clogged with outraged replies. I fear that the most effective response is just to report and filter and trust that other board members have the sense to do the same.

It will be a great shame if the board loses members like Bamps - here’s hoping that sanity is restored quickly and his absence is a short one.

Wouldn’t recommend clicking on the link from parry400 - it’s been posted all over multiple boards overnight. Reported as possible spam/malware.

IMHO one of the strengths of this board is that it is inclusive and covers a broad spectrum of opinion and debate. It is frustrating that, whenever the share price gets lively, certain individuals with an agenda come out of the woodwork, but, as other posters have pointed out, they are easy to spot and filter. I can understand the temptation but I don’t think a private group is the way forward.

Please Count me in - do we have to wait for 50p?

Did I really just recommend a post that contained the word “fabulicious”?

Hi MK
Would love to attend the Stroud event on the 19th if you still have the 2 places. (Would be bringing a friend who is not invested.) Looking forward to meeting some fellow investors.

All the best and thanks for the organisational effort,
FSA

Zoros

Hate to post this again but GGP is unlikely to be exempt from IHT in the UK (despite the AIM listing.) Could be an expensive mistake for any heirs.

Regarding UK Inheritance tax – My understanding is that AIM shares can indeed exempt but there appear to be some exceptions and pitfalls - see the following taken from the money observer website:

“…and to make matters worse, HMRC only makes a judgment on whether a company is IHT-exempt when tax is due.
It is best to play safe and only buy companies that engage in actual trading rather than passively invest in land or other assets, which entails avoiding investment trusts and their real estate equivalents (Reits) as well as resource exploration companies, which are deemed land companies. You must also tread carefully where profits are derived from joint ventures and subsidiaries rather than from active trading.

Regarding UK Inheritance tax – My understanding is that AIM shares can indeed exempt but there appear to be some exceptions and pitfalls - see the following taken from the money observer website:

“…and to make matters worse, HMRC only makes a judgment on whether a company is IHT-exempt when tax is due.
It is best to play safe and only buy companies that engage in actual trading rather than passively invest in land or other assets, which entails avoiding investment trusts and their real estate equivalents (Reits) as well as resource exploration companies, which are deemed land companies. You must also tread carefully where profits are derived from joint ventures and subsidiaries rather than from active trading.

One alternative might be a share buyback. I’m generally not in favour as they seem to be done too often for the wrong reasons, but if the share price remains a long way south of the company’s true value it could be something to think about.

Hi Threeturn - Well said! As Warren Buffet put it
“The stock market is a device for transferring money from the impatient to the patient.”

Sorry Bamps - I wasn’t having a go at your maths - apologies if it read that way. I was just clumsily making the point that even a tenth of that amount of cobalt would be massive.

On further reading, however, I did notice that GGP say on their Panorama prospect page that:

“The definitive source of the cobalt is not yet known
* however it is likely to be localised in folding and faulting of the bedrock sequences.”

So it may be that if the cobalt is in small pockets or veins we can’t extrapolate the sample results to get a meaningful estimate. I fear we may have to go back to the drawing board and await more data?

Hi Bamps,

I’m surprised no-one else has come back to you on this - even if your numbers are over by a factor of ten it’s still massive. Not qualified to comment myself but would be very interested in one of our resident geologist’s take on this...

Hi Chippy,

I haven’t been holding all that long compared to some here - only since 2018, but I was just thinking the other day of the long chain of events that led me to hold here. A bit of a shaggy dog story, but you did ask!
Back in the 1980’s when I had just left uni and jobs were thin on the ground I was wandering down Leith Walk in Edinburgh when I bumped into an ex workmate who told me that the office where I had worked over the summer were looking for a payables clerk.
Many years (and a move to London) later I was left holding a few Taylor Wimpey shares from the SAYE scheme. This is how I came to be reading the LSE TW board in 2018 when I noticed a couple of the regular posters (Possibly Bamps and TomE ? – if so many thanks guys!) mentioning a promising company called GGP. I did some research (I think this was before Paddy’s satellite brainwave) bought a few, and have increased the holding with each piece of positive news.

Hi Tiggerman,
Couldn’t help noticing your mention of Inheritance tax earlier. I looked into this a few months ago. Apologies for posting the following again, but if it’s a significant part of your planning you might want to take advice as for now GGP still seems to be in the resource exploration category:

Regarding UK Inheritance tax – My understanding is that AIM shares can indeed exempt but there appear to be some exceptions and pitfalls - see the following taken from the money observer website:

“…and to make matters worse, HMRC only makes a judgment on whether a company is IHT-exempt when tax is due.
It is best to play safe and only buy companies that engage in actual trading rather than passively invest in land or other assets, which entails avoiding investment trusts and their real estate equivalents (Reits) as well as resource exploration companies, which are deemed land companies. You must also tread carefully where profits are derived from joint ventures and subsidiaries rather than from active trading. Companies are also disqualified from relief if they have listings both on Aim and on another market elsewhere.”
I’m not a tax expert (far from it!) but it seems that anyone wanting to escape IHT on their GGP holding might do well to seek expert advice…

Apologies if this is too far off-topic, but s it’s been a quiet day and we’ve already had a Picasso story…
An art dealer arrived at Picasso’s studio carrying a canvas that he wanted the artist to authenticate. Picasso examined the picture carefully, shook his head sadly and pronounced it to be a forgery. After the crestfallen dealer had left Picasso’s studio assistant exclaimed “But Sir, I saw you paint that canvas with my own eyes – how can it be a forgery?”
Picasso smiled and replied “Why should I be the only man in the world who cannot forge a Picasso?”

Hi Mushroomkid,

Think you’re on the right lines, and we could (and probably will) debate until the cows come home what the AISC of the combined Telfer / Havieron operation would be, or what average gold price to use.
The only point I would add is that the (hopefully!) 20m oz of gold would be processed over the life of the mine, say 500k oz per year over 20 years. The analysts will apply a discount to these future cash flows to get a net present value for the project, which will reduce your final figure.
After the furore over percentages last week it will take a braver poster than me to get into the finer points of discounted cashflow analysis, but perhaps we have an accountant on the board who would dare to take a stab at it!
All the best FSA

Wasred
It’s a small world- I wonder what are the odds of someone involved with Blue Streak being on the same board all these years later?

Not sure if this has been posted on the board before, apologies if it has, but the following might provide a bit of context… hard to believe that it happened in my lifetime.
Blue Streak was a British ballistic missile intended to replace the V bomber fleet in the 1960’s. Nowhere in the UK was deemed safe for test firings and so a test site was set up at Woomera in Australia.
In 1964 Blue Streak missiles were scheduled to be fired into the Percival lakes area (about 50 miles east of what would become Telfer.)
Two Rangers were assigned to make sure that the target area was clear of people and spotted a group of 20 Martu women and children. The group had never seen white men before and fled in terror. The missile was fired regardless but fortunately veered off course and missed the target area.
Several months later, and with a second missile launch scheduled, the rangers returned, located the group, and having bound their ankles together to prevent escape took them to Jigalong Mission.
The full story is told in the Australian documentary film Contact (2009)

Rez, TomE

Quite agree – safety first. It does appear that, for whatever reason, someone with contacts at LSE seems very touchy about this share.
I could be wrong but, from memory, what Hydrogen posted was pretty innocuous – he just passed on info about a transaction that had already happened some time a go – nothing forward looking that would be price sensitive.
When another regular on the board passed on snippets about what was happening real time on Level 2 I seem to remember he was warned a couple of times but no ban.
I wonder if somebody really didn’t like the idea of PI’s having access to the kind of data he compiled over the weekend and simply reported his later post out of spite.
Speculation aside, a format where you could pin a Frequently Asked Questions post to the top might save us from the daily “Whats with all the tiny trades ?” posts. I think Twitter allows you to pin something to the top of the feed?

Regarding UK Inheritance tax – My understanding is that AIM shares can indeed exempt but there appear to be some exceptions and pitfalls - see the following taken from the money observer website:

“…and to make matters worse, HMRC only makes a judgment on whether a company is IHT-exempt when tax is due.
It is best to play safe and only buy companies that engage in actual trading rather than passively invest in land or other assets, which entails avoiding investment trusts and their real estate equivalents (Reits) as well as resource exploration companies, which are deemed land companies. You must also tread carefully where profits are derived from joint ventures and subsidiaries rather than from active trading. Companies are also disqualified from relief if they have listings both on Aim and on another market elsewhere.”
I’m not a tax expert (far from it!) but it seems that anyone wanting to escape IHT on their GGP holding might do well to seek expert advice…