Member Info for Klapka

Today.

Kalan. "Maybe Seis - but they are just another group of people making money throughadvertising and subscription on a topic they know little or nothing about"

When I still lived and worked in South Africa Kalan I knew Peter Major quite well, met and listened to him a couple of times at Mining Indabas. I cannot actually think of anyone more qualified to give expert advice on an African mining company. I think you'll find a profile of his on line and on Mining Review Africa.

Alec Hogg the interviewer was a financial journo on TV and radio for decades in South Africa before his colour made him less suitable. I believe he works out of London these days but still reports on SA business.

In 2012 or 2013? South Africa introduced withholding tax on dividends and a broker colleague and I decided to study the effect of it on companies and shareholders from the point of view of the tax as well as the general paying/receiving of dividends as opposed to the benefit of capital growth. We each had a good number of high net worth clients who had international portfolios as well as those who dabbled in mainly local penny stocks. We probably kept it up for 18 to 24 months. I cannot remember all our conclusions but on the whole clients from both groups were more keen on growth.

Nearly all the HNW clients disliked dividends and even more now it was being taxed.

A common view was that company profits are first subject to corporation tax at the company level. When the remaining profits are distributed to shareholders as dividends, the withholding tax was seen as a double taxation on the same profit. We also noted that ex-div shares immediately lost value by the amount of the dividend and the tax value and a further downward movement in price for reasons we could never quite understand. A loss for the company and shareholder.

I have disliked dividends ever since and often sell a share after declaration and then occasionally buy back in after ex-div. Hasn't done me any harm. IMO

Thank you Mikiesunday. Great feedback. I hope they don't go down the dividend route. It is generally a negative for company and shareholders.

Hi Kalan. Yes pump n dump looks very possible. All the buying is retail and small fry. You are bold to sell. I shall hold but probably never buy any more. My US portfolio is my happy place. GO WELL

Share price ahead of any news, no news in fact. Been here so many times. We hope.

The day Jubilee announced the sale of South Africa (June 5th?) the share price had opened at 4.00p. It would feel good to return to the future.

I notice someone has been buying 6 shares roughly every minute throughout the morning. Leon being discreet?

Can I assume it is general knowledge that the AGM has been set for 14th January? All I see on here is the usual squabbling.

Thank you Seis.

I don't think Chrome One have anything to do with Jubilee.

Thanks for the updates SeisNav.

I am reminded of the spoon salesman in Fawlty Towers.

The SA Government is not involved. The Competition Act explicitly requires the Commission to be independent, impartial, and free from political influence.

Makes it refreshingly, less likely to be corruptible.

K10000 is US$420. It is generally customary under such circumstances for Governments in Southern Africa to help towards funeral costs. It is not an admission of responsibility.

Northern thanks for your reply. My nervousness purely regards the SA Competition Commission's funnies that may arise. They may not of course but any would have to be discussed by parties to the sale. I have been around the block with them before.

Chatting on my SA broker's site, I see I am not alone in still being very nervous regarding a smooth transition here.

Concerns: The regulatory requirements. Payment guarantees from buyer and their credentials. The possible introduction of the Chrome export tax. The effect of the illegal Chrome exports estimated at 10 % by authorities so probably nearer 20%, amongst others.

9 years I have owned/followed Jubilee and that is the first good and satisfying presentation I have watched.

It's a Yes from me.

Thanks for that WOBF. Very interesting as you say.

For Leon back home that would be a Finale skriftelike waarskuwing?

Good post Bottomsup. I am sure there was a leak which as you say rushed the rns/sens. The leak may have come from the offer side. Assume they are not party to the stock exchange rules.

I have been concerned about the chrome price for a while. It is more likely to collapse than increase and our processing cost will not.

The price of copper has to inflate to pay for the new mine constructions around the World. Some wild predictions on that but I am certainly confident that up is more likely than down.

IMO if we carry on as we are we will be lucky if the share price reaches 10p in the next few years. If we throw everything into Zambia, we could go way beyond.