The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
1. There are a lot of knowledgeable people on here so wanted to pick their brain.
2. My investments and cash come from different sources so to avoid currency eroding my EUA investment I thought I'd ask.
3. The issue with the internet is I'd love to see if you'd be the big man and say that directly to my face without you running to the police afterwards.
Wishful positive thinking to why the sale is taking so long.
In short, a significant dividend is potentially going to be paid. BOD are major shareholders. Likely shares are in their names. Tax is liable upon dividend being paid. For the BOD that could amount to millions of pounds in tax paid in their residential jurisdictions. Maybe their accountant has told them to live in a tax efficient jurisdiction with 0% income tax for one year. Then once the dividend is declared tax is paid based on that jurisdictions rates (0%). They can then legally bring the money back to the UK or wherever they live usually tax free and move back.
Wishful thinking as to the delay. Either way I really hope it's a life changing payment as I think we could all do with some luck in life.
??
I suppose thats what Cecil Rhodes told African tribes when he cornered the diamond industry with payment in mirrors, combs and glass coloured beads. Do you want me to quote more historical facts of our great free market?
I've been a holder since the £0.007 days in 2015. It was pure luck I bought these shares. I've been watching quietly hoping for my payday. Now all I'm hearing are empty promises. Reading the annual report no dividends are proposed.
Now I'm reading more and more "develop the asset".
So go on do an Enron, set up a network of offshore companies, trade on your own account, raise the finance to develop these assets with money you've stolen from the small shareholder, maybe even sell/give away the golden nuggets to a network of offshore private companies ultimately controlled by the BOD.
Either way I'm patient but there's only so much patience one can have. This is either a long term hold, a repeat of what happened to the share price Dec-99 and Mar-03 and we're getting fleeced by a wolf of wall street type but I really can't see anything happening this year that will benefit small shareholders. I'm all for long term development of an asset but I'd like to see something for taking a punt on a company that had nothing at the time I made my investment.
P**s takers!
Annual accounts are due by end of June so I'm hoping we will know the outcome by then. Due to what's going on the accountants are going to have a headache as any changes between 1st Jan and when the directors sign their report and release to the public relating to the sale should be included in accounts as a significant post balance sheet event.
Accounting policy is "Mining assets are stated at cost less accumulated depreciation". Being an accountant for listed companies means in the balance sheet the company has not chosen fair valuation only the money they paid for it. This will be grossly under the actual fair value of the assets.