Member Info for Gavster-NBC

All is fine in Galantas world. I can get a buy quote for 20.02p.
They are cleaning their pile of rocks, which should please the "Happy duckers", and so far made around a million doing so since May.
I have two "Anti-Galantas at all times until there is green fields again, never mind the loss of jobs and hit to the fragile local economy" posters on filter here so I can't read many posts on this board.

This is looking like a good deal at this price. Been on my watchlist for a while and missed the initial Covid drop in SP earlier in the year. US$/GBP rate also keeping this down creeping above 1.3 today. It's either today or tomorrow for the divi.

Will this conflict blow over ?

https://www.france24.com/en/europe/20201006-nagorno-karabakh-conflict-turkey-sees-an-opportunity-to-increase-its-regional-role

As fighting continues over the disputed enclave of Nagorno-Karabakh, Neil Melvin, Director of International Security Studies at the Royal United Services Institute, gives us his perspective on what's happening and what may come next in this conflict.

The fighting and accusations continue to fly over Nagorno-Karabakh and the surrounding region, with Armenian and Azerbaijani forces shelling several towns. Nagorno-Karabakh broke away in the 1990s and has been run ever since by a group of ethnic Armenians, inside what is internationally recognised as Azerbaijan.

Melvin says the reason behind the recent flare-up in violence is that Azerbaijan has been emboldened by Turkish support and now has military might it didn't have previously. Those resources and the lack of progress from peace talks on the region mean that patience over the ongoing stalemate eventually ran out.

Rise could be leaked news about the UK Gov boosting their funding into wind farms. It's certainly good positive sentiment.
https://www.bbc.co.uk/news/uk-politics-54421489

Offshore wind farms will generate enough electricity to power every home in the UK within a decade, Boris Johnson will pledge later.

Speaking at Conservative party conference, the PM will announce £160m to upgrade ports and factories for building turbines to help the country "build back greener".

The plan aims to create 2,000 jobs in construction and support 60,000 more.

He will say the UK is to become "the world leader in clean wind energy".

"Your kettle, your washing machine, your cooker, your heating, your plug-in electric vehicle - the whole lot of them will get their juice cleanly and without guilt from the breezes that blow around these islands," he will say.

Mr Johnson's speech comes after he made a pledge at a UN biodiversity summit in New York to protect 30% of UK land for nature as a "boost for biodiversity".

Hi Gareth. I had a problem with my EVR dividend in my trading account with (ii.co.uk) previously as it's paid in US$ and it went into a dollar account I didn't realise I had and wasn't immediately obvious on the website.

My Sipp and ISA dividends arrived last Friday, Selftrade(via James Hay)and ii.co.uk. Dividend reinvestment instructions executed yesterday and they automatically converted into sterling.

Life in the old dog yet then.
With the highest ever gold prices, this will keep the company afloat and any fire sale at bay. With the current tide flowing with mining, it's not off the cards for someone to offer a proper price. The 'happy ducks brigade' would do well to support a small company like Galantas rather than let the big boys steam roller in.

The over half a million of ounces of Galantas gold in the ground here is worth A BILLION US$ !
Current market cap is £7m.

Hi Rosewall and all. I quote your post below.

"Some will go to the pension fund and some will go to shareholders and the dregs will go into working capital. This will reduce the SP by the best part of £1. How many shares need to be consolidated to get back to £2.50?'

I've also consider the drop in SP after this special divi. If the SP drops by 50p and the normal annual dividend, say 9p, stays, then this should keep the SP higher than a 100p drop. A yield of 5% if divi of 9p with an SP of 180 (being 230 less the 50p) for new buyers.
Reinvesting a special divi, if shares bought at 230, also keeps the yield at 5% if the SP drops. and the yield reduces to 3.9% if the dividend is not reinvested.

To me this all suggests that a drop by the same amount of the special Divi is already priced in.

Cheers All

Nothing to do but batten down the hatches on my BP and Shell holdings. Just my safety holdings of tesco had a good day.
Not the best time for BP to diverge away from oil but "C'est la vie". Their hand has been forced by oil prices and demand.
On the subject of Covid-19.
We have a vaccine, AstraZeneca is in the process of manufacturing 2 billion doses.
Have a listen to the Radio 4 interview of Sarah Gilbert , who's team developed the vaccine at Oxford. We await the approval and all the testing results.
IMO If her team or another team around the world are successful, then the markets will definitely rebound in 2021.
If you were a holder of Apple in the 2000 at 0.89$ and watched the SP sink to 0.29$, I bet you're glad you held for the next 10 years to see an SP of 10$ ! In other words, BP is a good company with a vision and a plan. Selling at it's lowest SP is madness. Trade if you dare, for sure. long term, the tortoise will beat the hare.
Cheers and GL

Bullish signs IMO.

https://www.lme.com/Metals/Ferrous/HRC-N-America#tabIndex=2
US Steel prices in $ are back to December 2019 levels.

https://markets.businessinsider.com/commodities/iron-ore-price
Iron Ore is above $120, back to levels of 2014 and above the July 2019 price peak.

https://markets.businessinsider.com/commodities/coal-price
Coal back to May 2019 levels.

Oops Divi level is stated as
US 0.83582 cents per share (0.65451 pence per share)
, not as in previous post.
PROPOSED DIVIDEND FOR THE FINANCIAL YEAR ENDED 30 JUNE 2020

The board has proposed a final dividend of ZAR312.9 million for the 2020 financial year (approximately US$18.7 million), equal to ZA 14.00000 cents per share or approximately US 0.83582 cents per share (0.65451 pence per share)....
..... provide for a 40% payout ratio of net cash generated from operating activities.

Dividend is 0.97 cents per share (current $ rate is about 0.75p, a 3% yield.

Alway cautious. (I think there was some previously stated guidance of 40% of EPS being dividend ? ).

It really looks like the debt will be mostly gone the next half year results, at which point EPS and the divi should increase massively again.

I can't see the SP doing anything other than inch upwards and keeping it's daily movements relative to the wider market.

barnyards & Bigbadbaz

The Tortoise does beat the Hare though, and there are many long term holds that have been the most profitable, even if one had to sit through a year or two at a loss.

I'd have rather had single chunky investments in each of
ASOS (buying in 2002 and seeing my investment halve by 2003),
Apple in the 2000 (say buying at he top and watching my investment go down 60%),
Fever Tree in 2014,
Highland Gold in 2014.
etc etc etc...
Making me a multi-millionaire. Rather than log in to LSE or wonder how to improve my portfolio as a constant ongoing extra workload.

Looks like the Pound is going down against the dollar, and in so doing taken the brunt of the fall yesterday, leaving the FTSE fairly mute today.

Some interest today and no surprise it coincides with the copper price above 3$, after a 6 month rise.
2p to 3p here could be in sights very quickly, once they prove repayments and actually making money due to high metal prices.

"I’m afraid I can see this going under 250 soon, Brexit approaching and possibly no deal. "

I disagree. A no deal Brexit will be exactly what BP needs. BP accounts in dollars and the pound crashing somewhat could boost the SP in GBP by as much as 20%, in the same way the dollar going down 8% recently has help BP's downward trend probably by 10%.

BP is very global and not subject to the same Brexit effects other industries located within the UK will be.

BP accounts in US$. The American QE, stimulus, inflation, and various measures to counter the downside virus economic effects is outpacing the UK's. Currently each % of the GBP/USD rate rising means a % that the Share price will go down. This isn't exactly helping poor sentiment to start with. I'm sticking my neck out with a buy rating as this will change when the UK keeps up with it's own extra QE measures, especially with a no deal Brexit looming too. This will signal a rise in BP share price.

Thoughts.
IMO. This is the essence of the "BP down to 250" crew. There is huge money printing going on in the USA and that alone has knocked 10% of the value of BP. The price of oil in GBP is not going up, but it is in US$.

https://www.exchangerates.org.uk/commodities/live-oil-prices/BRT-GBP.html

This is keeping the stateside index high. The massive valuations going on to the trendy US companies have to be backed up at some point. Is the world going to spend 3 times more than it currently does on Android Facebook Tesla and Apple ? No chance, so as far as I can see there is only one way these companies share price can go long term, that's down and when they sink, the worlds markets will get caught up in the wake.

The 'BP to 350p' crew see the FTSE companies gaining traction due to the long standing valuation methods of yield and P/E. The FTSE has some bargain investments compared to Apple and company. Long term I agree with this, however I do think for value to be found, like all previous times we generally follow the American trends.

Each time the Dow goes up, the FTSE will stagnate. Each time the Dow goes down, we'll go down too, as is now. This brings trading opportunities too. IMO The FTSE will get boosts by the end of this year. The GBP has no option but the devalue with the dollar. The Covid crisis then a hard Brexit on the way will certainly keep the Bank Of England Money machines on full print.

So not inconceivable to see 250 first then 350 later.

Hi Qzqz
"My only concern we are heavily into mining Coal. Not the most popular of commodities atm "
Absolutely right, except that currently steel production cannot be done without coking coal, and much less R&D is being done that one would imagine to produce Steel using less fossil fuel.
IMP There is plenty of years left where Evraz's will keep on earning with all of it's products.
EVR has a current yield of around 10%, Tesla has a P/E ratio of a 1000.
Which is a safer bet ?

As with every other dividend this year in my portfolio and from what I have seen, more gain would have been made by trading the drop in share price in the days surrounding ex-dividend than holding through. Does anyone know of an LSE company that's not shown a bigger drop in value than the dividend ?

Hi Fuelforlove, not sure what you mean.
Compare the market cap, ie the overall value of the company by the market.
(Number of shares) x (share price) = Market Cap

PAF = 0.24 x 1930m = £463m
PUR = 1.18 x 384m = £453m

Companies are valued about the same.

£17m is a UT trade. Ignore.