Member Info for Jay053

I wouldn't pay much attention to him then.

Leftover shares which were not claimed (The Rump) sold at 70p.

70p minus 37.2p subscription price minus fees creates a profit which is distributed to shareholders who didn't take up their rights.

The Rump was 6.8 million shares which were all bought at 70p (nearly double subscription price), that shows there is strong demand for the shares.

Investment trusts often hold a large % of shares in treasury.

This is because they buy back shares when they trade at a large discount to NAV and hold them in treasury, they can then reissue them when demand improves.

This reduces volatility, supports the SP instead of cancelling shares.

New share payment date: 11th May 2026

Yes, although indirectly.

Kazakhstan (led by Kazatomprom) produces most of its uranium via in-situ recovery (ISR).

ISR injects sulfuric acid underground to dissolve uranium.

No acid = no leaching = no production.

So sulfuric acid is not optional—it’s a core input.

Https://www.mining.com/web/china-moves-to-ban-sulfuric-acid-exports-as-iran-war-hits-supply/

Https://www.mining.com/web/china-moves-to-ban-sulfuric-acid-exports-as-iran-war-hits-supply/

I've not heard anything.

The exact ages of fund managers Keith Watson and Rob Crayfourd are not publicly disclosed; however, their professional experience provides a reliable estimate:

Keith Watson (Estimated age: 54–56)

Career Start: He began his career in 1992 as a portfolio manager at Scottish Amicable Investment Managers.

Experience: He has over 33 years of experience in the natural resources sector.

Education: He holds a BSc (Hons) in Applied Physics from Durham University.

Estimation Logic: Assuming he graduated university around age 21–22 in 1992, he was likely born circa 1970–1971.

Rob (Robert) Crayfourd (Estimated age: 41–44)

Career Start: He has over 20 years of experience managing natural resources funds.

Experience: He joined the team at Manulife | CQS Investment Management (formerly NCIM) in 2011.

Education: He holds a BSc in Geological Sciences from the University of Leeds and is a CFA charterholder.

Estimation Logic: Based on 20+ years of professional experience as of early 2026, he likely began his career around 2003–2005. If he entered the workforce at age 21–22, he was likely born circa 1982–1984.

As of 9 March 2026, Keith Watson and Rob Crayfourd have tendered their resignations from Manulife CQS Investment Management to move to a new, as-yet-unnamed employer.

Career Move: While an official reason was not stated in the regulatory filings, the board of the Golden Prospect Precious Metals (GPM) trust indicated they may look to follow the duo to their "new employer".

Notice Period: They are currently serving a three-month notice period at CQS and will continue to manage their existing portfolios during this time.

Impacted Funds: Their departure affects three major commodity-focused investment trusts:

CQS Natural Resources Growth & Income (CYN).

Golden Prospect Precious Metals (GPM).

Geiger Counter (GCL).

Timing: The resignations follow a period of exceptional performance, with GPM and CYN more than doubling shareholders' money over the past year amidst surging commodity prices.

Board Response: The board of Golden Prospect has served a protective notice of termination on CQS, allowing it to potentially move the management contract to the duo's new firm in the future.

Agreed DM, Sad for everyone involved. I've seen accidents at mines ruin share prices in the past.

I've taken profits and put them in places that are announcing Q4 reports.

Will look to buy back in the future.

I think I first bought in to AGQ in around 2009,, I'd have certainly bought in 2012.

Yes, unfortunately.

Pi's got royally screwed.

I keep it in my portfolio as a reminder of what can happen. I cant bring myself to buy here again.

Hopefully I will be back in profit soon, my average is £184.42p (Yes that's pounds and pence)

Any Platinum shares worth looking at over the weekend?

FWIW I hold..

TSE: Andean Precious Metal - APM

TSE: McEwen Inc - MUX

TSX: Silver X Mining Corp - AGX (up 260% since I bought 2nd September 25)

Even more worthwhile holding for at least the next few years.

Buy and Hold is easier than trading.

HOC on Wednesday.

Investing.com - JPMorgan has downgraded Hochschild Mining Plc. (LON:HOC) from Overweight to Neutral while raising its price target to GBP6.70 from GBP6.00. Despite the downgrade, the stock has shown remarkable strength, with InvestingPro data showing a 187% return over the past year and trading within 1% of its 52-week high of $8.10.

The investment bank forecasts fourth-quarter 2025 production of 53,000 ounces of gold and 2.0 million ounces of silver for the mining company, including 10,000 ounces of gold from the Mara Rosa project. JPMorgan projects full-year 2025 EBITDA of $513 million, slightly below consensus estimates, and net debt of $215 million, 30% above consensus.

For 2026, the bank anticipates consolidated silver production of 8.3 million ounces and gold output of 249,000 ounces, both below consensus forecasts. JPMorgan also expects all-in sustaining costs (AISC) of approximately $2,400 per ounce, significantly higher than the consensus estimate of $2,000 per ounce. InvestingPro data shows Hochschild currently has a market capitalization of $4.04 billion with trailing twelve-month revenue of $1.08 billion, representing nearly 40% growth.

The Mara Rosa recovery remains a key focus, with repair works and installation of a new tailings thickener scheduled for the first half of 2026. JPMorgan forecasts 2026 output from this project at 68,000 tonnes, below the consensus estimate of 72,000 tonnes.

The bank also noted potential delays in the Royropata project timeline beyond 2028, with the environmental impact assessment submission guided for August 2026, while the Monte do Carmo project final investment decision likely depends on Mara Rosa returning to full capacity from mid-2026. According to InvestingPro analysis, Hochschild operates with a moderate debt level and is currently trading slightly below its Fair Value. Subscribers can access 14 additional ProTips and a comprehensive research report on the company’s financial health and growth prospects.

In other recent news, UBS downgraded Hochschild Mining Plc. from a Buy to a Neutral rating, pointing to production challenges as a primary concern. Despite these operational issues, the firm raised its price target slightly to GBP4.80 from GBP4.60. UBS noted that the company’s recent share price gains of approximately 130% have been largely influenced by strong gold and silver prices rather than improvements in company performance. These developments come after several years marked by operational challenges. The downgrade reflects UBS’s cautious stance on the company’s ability to overcome these hurdles in the near term. Investors should consider these factors when evaluating Hochschild Mining’s prospects.

People need to stop watching this Ai rubbish, look at the account history they are all new.

Watch commentary from real people who have done research and have a history of doing so.

Host Ed Coyne and Sprott CEO John Ciampaglia recap a surprising 2025 for the uranium market, characterized by flat spot prices that contrasted sharply with strong mining equities and bullish long-term demand signals for nuclear power. Together, Ed and John look ahead to 2026, highlighting the potential for renewed contracting, higher prices and pivotal U.S. policy decisions that are likely to boost demand for uranium and nuclear power.

https://www.youtube.com/watch?v=H-zAmt5SZDU

"The stock market is a device for transferring money from the impatient to the patient."

Warren Buffett.

Host Ed Coyne and Sprott CEO John Ciampaglia recap a surprising 2025 for the uranium market, characterized by flat spot prices that contrasted sharply with strong mining equities and bullish long-term demand signals for nuclear power. Together, Ed and John look ahead to 2026, highlighting the potential for renewed contracting, higher prices and pivotal U.S. policy decisions that are likely to boost demand for uranium and nuclear power.

https://www.youtube.com/watch?v=H-zAmt5SZDU