Member Info for kkwi

Yes, have previously claimed HL cashback. This year, went with Freetrade and IG - estimated total cashback of £11.5K accross SIPP and ISA for myself and my wife.

"Central banks once again have become marginal buyers - rather than sellers" Interestingly, Russia have now started selling down their reserves. You can argue that they are a forced seller, however the fact remains that one of the largest holders of gold reserves is now selling.

Thank you for that detail Bamps.

Will be interesting to see the results from the first quarterly report so we can start to get a better understanding how different material being processed may effect the resultant copper revenues

Just a point, but we sell copper concentrate, not refined copper. You figures would need adjusting on that basis.

I apologise if I have mis-recalled the agreement in place - I had though this to be a FPA rather than put option. Out of interest, can you point me to the reference for this information? I cannot even recall where I had seen the 60% hedge figure now that I have seen your response.

The intent behind my post was to highlight that the PoG is not an absolute determinate of the investment performance in a gold miner for a variety of reasons.

A majority of the production (60% from memory) for the Telfer stockpile already have a forward contract.

PoG movement are therefor diluted on this basis, as well as the other perceived risk and speculative factors.

Investing in a gold miner is not the same as directly investing in gold, or financial derivatives thereof.

The company was put into a pre packaged administration. Basically, the core assets and a rump of the debt, along with a number of the companies under the group, was moved under a new entity.

Avanti Communications Group plc was dissolved in July this year.

Fully agree wiseys - Circassia are well placed to continue to have a robust business model, and even see upside, with current events.