Member Info for Nickqj

Androcles and everyone,

Here is my thinking.

The share price is high now so now is a good time to sell. Also, the world is becoming more unstable and the money is safer in the UK than Kazakhstan. I have just sold my shares through Wood & Co and paid lots of fees. I will soon have to pay CGT as well. Waiting for CORE to re-list in London is for optimists. It would be good but it may never happen and even if it does it will take a long time. Now I am investing in ETFs which I can sell easily in London. Maybe CORE/POLY will continue to rise but that is no more likely than my new ETFs.

I bought POLY shares in Interactive Investors but my understanding of their re-domiciliation document is that ISA status was lost when the shares were transferred to the Astana International Exchange (AIX).

Wood & Co is better than Freedom Broker. I tried the latter and made no progress whatever.

Trick, No but I have tried. I moved the shares into Kazakhstan, Astana International Exchange, AIX. AIX is a pleasure to deal with. You have to get a special form from AIX, Securities Transfer Form, in order to send a request to sell the shares. You fill it in and email it back. For the sale to be successful the broker has to ask to get the shares quoting the same information. You have to open an account with a broker such as Freedom Broker because AIX will not sell the shares for you.

I tried Freedom and gave up because sending a message is best done through their mobile phone app and whoever replies does not read (or maybe understand) what you write and previous messages. Well, that is how it seemed to me. Other people must have succeeded though.

I tried Wood & Company and everything looked good at first. They have an office in London but I deal with Prague. They asked for a security payment of 1 USD. I did that through my UK bank but Wood & Co said they could not find the payment. I paid again with Revolut and they could not find that either. I am a bit puzzled why a Czech company is asking a Brit for a USD when their bank is in Belgium. They asked for my banking details, so I sent them. They asked again so I sent them again. If the payments were rejected by Wood & Co I would have been notified by now. Frustrating, but the lady at Wood & Co usually replies in a reasonable time.

Maybe I am doing something wrong but it is not obvious yet. My advice is to set your broker account up well before you want to sell.

If any readers can contribute please do so, I would be most grateful.

I found this on the Solidcore web site.

"For the avoidance of doubt, the following categories of Solidcore investors will NOT be subject to the mandatory buy-back:

Investors who hold a direct account under their name at the AIX Registrar;

Investors who have moved their securities to a broker's account at the AIX Central Securities Depository;" etc

I think you should put your shares into AIX or an approved broker to avoid the buyback at a low price if you have not already done so.

A comment on Reddit said that if your shares are in AIX they will not be subject to compulsory purchase. I think that is correct. Comments there said holders of these shares would like to sell now that the price has risen but they do not know how to. If we cannot sell them the situation is that we might as well not own them.

I emailed AIX and the reply said AIX shares are definitely in electronic form.

In my opinion when the war in Ukraine stops there will be many changes but Russia will still be an enemy of Western Europe and some sanctions may remain.

There is a case for selling at the first opportunity and investing in a tradeable company in London.

I want to be in a position to sell my SolidCore share when the time is right. AIX will not sell them, only transfer to a broker. Freedom Broker seemed to be the most promising one once. They make no end of difficulties. e.g. I sent a statement of my holding from AIX but Freedom Broker now says it will not accept paper certificates, only electronic shares. Has anyone here succeeded where I have failed?

I tried to open an account with Tabys but failed when the app asked for an IIN. I do not have one, are only Kazakhstan citizens allowed on Tabys?

Two thoughts. I read the RNS and there is nothing there to justify a large drop. I am sitting tight.

Also, if Trump retreats to the USA that will force Western Europe to increase defence spending. Not so bad.

I forget where but I just read that other nickel mines were shut in 2023. The reason is the low predicted price of nickel. Encouraged by China, Indonesia has been producing too much.

"Georgia capital begins share buyback following country's protests" by Elliot Gulliver-Needham appeared in City AM. It says what today's RNS says and that the share price drop is due to protests at the recent foreign agents law. Worth reading.

There is an article in CityWire today about several companies including JLP. It speaks well of the copper project in Zambia and hopes for a share price of 10p.

Good if it happens but I would still be underwater.

Bobbust; I am inclined to agree that GMET and FCM look promising. However, the decision whether to buy depends on whether their prospects are better than the alternatives. The bid -offer spread on these junior miner/explorers is usually so high that investors will be reluctant to change frequently.

In my case I recently bought some more POW at 0.7p. I am keeping RBW, JLP and GLEN for now because they have assets in the ground. I sold ECR and PALM because they have hopes and nothing underground.

I like to follow metal prices, both precious and base. That is quite easy for most metals on "Daily Metal Prices" but I have not found a web site quoting a comparable figure for chromium. Can anyone help?

The magazine, Money Week, had an article last April saying THS was a really good buy at 97p. Just recently it ran another article saying the same adding that THS is "ridiculously cheap" at 60p. I am inclined to think both articles are correct. I have been watching and waiting for the SP to stop falling. I notice that Jubilee Metals, JLP, which sells PGM and copper has also been falling.

Many comments here are too pessimistic. The magazine, Money Week, has an article saying there is plenty of copper, silver and gold at Cascabel and in effect worth the risk. The article says SOLG may be bought sometime at a premium.

I agree. I might add that JLP's assets are real, the minerals really do exist. There is a minimum value to copper, chromium etc which will survive recessions. The assets of shops, fizzy drinks and holiday companies can fall to zero.

Thanks to all the contributors who have made constructive comments. I first bought Sept 2021, it was 3% of my portfolio. I have lost half my investment. I have just bought another 3% because JLP is doing what I expect and the price is lower.

One objection I have to JLP is that South Africa seems unable to generate electricity as required but an RNS did say an alternative is available.

My logic to buying JLP also applies to Power Metals, POW, although the business model is quite different.

A vote of confidence? No, more of hope.

No, I have not sold and you are correct; until I sell I have not lost anything. However, with the benefit of hindsight I should have sold weeks ago when the price was higher and then buy now.

BOIL is not the only share price to fall. I also hold shares in HZM (nickel), JLP (chromium, copper), POW (uranium), RBW (rare earths) and they are all falling as well. I console myself with the thought that the assets are real and in demand so, logically, the price cannot stay down for ever. In BOIL's case gas and oil have a ready market which will not go away.

There have been comments about his subject recently. The way I see it selling high and buying low frequently is unlikely to succeed here because the bid/ offer spread at 11% is too high. I bought BOIL because the assets more than justified the share price. That has not stopped me losing badly though! I am stuck waiting for a rise.

TamerInvestor, I spent 20 years as a chemical analyst but that was decades ago so I am a bit out of my depth here. The difficulty with gold is that it is likely present in nuggets or grains. If you sample a grain you get a high figure otherwise you get a zero. Rare earths may be more evenly dispersed but care is still needed to take a representative sample. When I started (50years ago) the boss told me most errors occur at the sampling stage and I soon found out he was right. The labs in Australia or anywhere will have their procedures for sampling, identifying and analysing and will probably not change any of it because the customer wants their results quickly. Once the samples are in the lab modern instruments should give good results easily in trained hands. The people and their instruments are seriously expensive and the owner will want to make sure they are in use all day every day and that might mean delays for the customers.

Analysing an ore for rare earth elements may be more expensive than for gold because there 13 REE and therefore 13 figures have to be given. When I was at work a typical charge was £10 per element per sample.

Portable X-ray fluorescence taken onsite can give useful information quickly but results from a laboratory will be more reliable.

JC_123: Thanks for this Forbes link.