The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
You will have some that have SXX in Share Accounts (outside ISAs / SIPPS), and selling now will give you a crystallised loss to offset gains in other investments, whilst you can use this tax year Capital gain allowances. So basically you use your annual 12k CGT alliance instead of not using it and be burden with a tax bill later on.
It is called tax planning, not tax avoidance, and then you can buy in an ISA next week to keep your SXX holdings without risking B&B assessment.
M
At the end of the onto, the decision could be.....
Tesla, Nissan Leaf,. Or E-bike.....
Lol
M
S Class? .... that was few years back, nice taxi...
Phil,
try Bridgewater Garden centre, on the new, pure Polysulphate, about GBP15 / 2.5 kg tub, delivered.
I got some.... waiting to see the crop trial results later this year ... Hopefully the trial Toms are larger than 'no Polysulphate' ones, and also SP higher ...
M
What, you did not hear of the new job fair at the local Amazon warehouse? .... he needs it to stay afloat...
LOL.
M
Chriskies,
This is an investment bank .... they do not lend out only what own cash they have in 'the saving' account...
They arrange syndicated debt, they issue their own long term bonds paying some 1-2% interest, then they lend out.
If you look at the large financing deals, you will find $50 - $100 Bil size deals done. But again, they share the risk and 'pool' with other Investment banks etc. It is similar to the re-insurance market, regardless whom fronts the deal.
I hope this helps.
They may do this alone with SM, although I do think they will syndicate a chunk of it, whilst collecting $2-300 mil in fees alone for fronting it, plus interest etc.
IMO
M
Hi Bobster,
There are no guarantees, we all express our thoughts here ...
We will know one way or another within a month ...
M
Jesse11,
We don't know ... we all speculate, some for hidden motives...
Put yourself in the lender position - if you COULD get some additional safety, would you not try to get it?
If I was them, of course I would = even if you say, and do a deal behind the scenes with the IPS: look, we will lend the $3 B, would you cover x% op to $x = we cover the rest.
It is small peanuts in the heat scheme of things, compared to the asset value, but you will try.
So the lender may already have this, or, may not = if they valued the risk and asset and decided the IPA involvement is extra headache with little commercial value, they may have said, sod this, we can just do it.
We area all speculating now, which is a bit pointless.
The main thing, do we have ST2 sorted out? By the way, makes me lough when some say JPM does not have $3B ... are you for real, or did you do ANY DD on JPM?
IMO
M
Hi Tony - yes, this is my read as well.
Depending on the deal ... we may end up without shorters (excluding the CBs) around, they will look for secondary jobs to cover the losses. Maybe they will try their luck with Cuadrilla? lol.
M
Ken,
You need to ask say HL or your broker, they will advise.
M
Fred - yes, I agree, I think IPA will still have a role to play.
The lender will get as much security as he can, therefore I am sure this was already baked in for whatever the amounts would be.
The key element here is, that instead of 20 lenders asking 20 different questions from 20 different Due diligence teams, not it is 1 lender, 1 DD team, and one they are satisfied, they will write up the package lending and ask other banks if they want to participate, under the administration of the 1 lender T&Cs package. All administered by 1 bank, the others will just lend, then sit back and wait for interest and repayments to come in. They can also re-sell their 'lines' to other banks etc. Also the arrangement fee, likely up to $300 mil, is not 'shared' with 20 other greedy banks, and this is attractive ...
IMO
M
Telegraph
https://www.telegraph.co.uk/business/2019/03/30/losses-pile-struggling-yorkshire-fertiliser-miner/
On a face of it, it looks like ICL are not able to scale up quick enough to make Boulby profitable ...
But the accounts they mention are for the Year Ended Dec 2017!
Well, this is old news, and it is in line with other comments made over the past year: they are switching to Polyhalite, will take them couple of years to reach 1m tones and profits... etc.
Therefore this article is not fair on ICL Boulby really, and in my opinion, is poor journalism trying to 'fill in pages with hot air' to make the journalist 'target' of number or articles written up in the month ... I guess he is planning to apply for to join MF and needs to show he turn 100 articles a day as 'sensationalism news'.
IMO
M
Bobster
To speculate, I guess JPM or CITI, Goldman S.
JPM in the LG now, and CITI / GS is where CF was an Investment banker in his career, and he was raising and putting finance packages together (like this) for other clients, like Fortescue..My main guess, is JPM.
I am linking to some tangible 'knows' here from press speculation (FT), not just picking up a name from the hat.
M
If the FT is right, well, I guessed it right ... JPM.
I'm not surprised, make sense, and this is how they play the game at that level.
My half-baked assumption is that few in the Lending Group were too noisy, delaying things, JPM has seen all the DD info, understand the asset value, risk = and gone in sideway. As on JPM analyst said = easier to have one party structure..... Don't worry the rest of the LG will still participate, but they will buy 'lines' under the deal led by JPM under the terms of JPM (don't like it, don't buy in ... = easy).
So, this tells me that ST2 is probably 99% on the way.
What that will contain, dilution, convertibles, maybe still IPA contribution (don't think that JPM and SM would not keep their involvement if possible!)..... to be seen, anything else is pure speculation. But, as CF said, gives flexibility and this is attractive .... therefore I would assume dilution is limited, and if we don't need say the contingency, maybe not at all ... whom knows, let's see.
IMO
M
Scotman,
Do you refer to SL or to Corbyn?
ffc,
Ignoring the PIs waiting to buy few thousand shares like Casa, the bigger change will be from Institutional Investors:
Many funds, and especially Pension funds, are interested to invest and many commented over the years = but many have restrictions in what they invest as a clear investment guidance to investors buying into their funds, including high risk (and SXX is currently high risk from their point of view) for funding and / or construction, and some invest only in clear cash generative businesses, whilst some can invest for cash and / or growth.
Therefore past ST2, with only Construction risk (which is decreasing as we near completion), we will see IIs buying in ... and the volume is a lot higher than a Casa buy.
IMO
M
OK, maybe it is me.
I recall some interest analysis pieces from AG in the past.
Yes, he got stuck with CF 'intention' of no dilution in ST2, got fixed to it and would not bear consider what we (or at least quite few here) said, plan and bake in some dilution to 7-8 Bil = and if it still makes an attractive return for you, stay invested, if not, be prepared or at least consider to be disappointed.
At least AG was genuine in his feelings, not like others ... (Supersausage comes to mind ?).
But yes, then AG was a bit annoying lingering on after seeing and moaning for months on his not ready-for-dilution dissapointment. - excluding this part, I hope AG brings some good commentary that adds value to what I read here.
IMO
M
(And I have no doubts that I will still disagree with him time and again ...)
Hello Andy!!!
Glad to have you back, you do bring a good voice of reason here!
GLA
M
Yes, interesting, how PIs are reacting when 'uneducated' journalists on some of these sites post something negative, versus positive...
Considering that this is old news, why are are all cheering up?
Instead, I think we should use the advise from a better investor than any of us here:
https://finance.yahoo.com/news/warren-buffett-investment-apple-131716508.html
IMO
M
Well, that must be Supersausage, trying to push SP up last year, in his mind, so then he can sell.... He is a self declared rat.
For the rest- if the company BOD is offering super stretched bonus incentives to the execs, if the Market Cap reaches go 7 billion by 2023, and all reasonable investors here would assume we end up with 7 billion shares, .... What Christmas do you think the SP may reach 1 pound?.... Have you read this, or done any research, before believing in SL sxxxt?.
Just saying... DYOR.
And yes, if funding is sorted to an acceptable level ( considering the CF is the largest individual personal shareholder...), SP may hit 1 pound by 2023 and a lot higher, also assuming build goes as per plan.
IMO
M