The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Unkrvw - it's the same today. The law is a rigged game, rigged against ordinary people. Do you remember, a few years ago, when we found out that rich people buy large houses without paying stamp duty because they knew of a way round it, a legal way? Also, look at how some people go bankrupt but don't lose their assets because they know the laws on bankruptcy and they arranged things so that their assets were out of reach of the law. I could say a lot more but I'd better stop there otherwise this will turn in to a long essay.
Annie, I'm fairly sure that the last vote was on the Scheme and this vote is for the court meeting. I'm sure someone more knowledgeable than myself will confirm or correct me.
I've just been into II and voted again, but I still haven't had a voting form by post for the SHG shares I hold as a certificate at home.
"Gold’s long anticipated breakout finally arrives…"
RM Capitla Analytics: Rashad Hajiyev
https://www.youtube.com/watch?v=9jmi0IqkyTo
11 days ago he said a pause was necessary - he was right, "I doubt that gold will linger for too long under $2,200" - he was right.
"I would't be surprised if gold tests $2,400 by April" - and he goes on to say $3,000 gold in November, 2024.
It's only a three and a half minute video, see what you think of his reasons for those numbers.
Talking of forecasts - I recently saw one (with good analysis backing it up) that gold will be at $2,400 in April and of course there was Michael Oliver with his prediction that once the rise starts (I would say it started two weeks ago) the gold price will rise by $600 in sixty days, so that would be at about the end of April Will this takeover deal be sorted out by then?
It did it - over $2,200.
After that small correction with the price taking a breather, the uptrend has resumed.
It looks likely that $2,200 will soon be breached and the NPV of SHG rises again.
With news about the changed position on the dividend, this makes it equivalent to 15p per share, but I still voted No. SHG was paying 0.1p dividend (twice a year) before the new mine came into production. With the new mine now generating income, how high should the dividend be? I would say at least double - and the bidders propably think so too, that is why want SHG.
Anyone with certificates rather than online holdings - have you received your voting form - I haven't.
It's only a slight typing error (2008), H4, so perhaps you won't want to bother sending an amended letter -
"Fraud (Bailiwick of Guernsey) Law, 2009"
https://www.guernseylegalresources.gg/laws/guernsey-bailiwick/c/crime-and-criminal-justice/others/fraud-bailiwick-of-guernsey-law-2009/
CrystalVoyager - this is AIM. We were lucky to get a vote, I've been in gold miners that were taken over, at a low price. and there was no vote, the board recommended the bid and the bidders just took the shares.
Is the commodity market as corrupt as we suspect stock markets are?
"James Turk – What Is Happening In The Gold Market Is Shocking"
"While gold has soared to record highs, the weight of metal recorded in ETFs has been declining worldwide. It’s a contradiction to many who would have expected the opposite to occur."
https://kingworldnews.com/what-is-happening-in-the-gold-market-is-shocking/
"Calling them and the bidders names is childish" - it's called venting your feelings. How can you talk politely about people who are stealing the company from under out noses so that they can make millions - and with a rocketing gold price, probably many hundreds of millions
G_G_G, I agree. This is the sort of thing I had in mind after they said they "are considering what to do". On 4th March I posted, in reference to other companies I had been in where the shareholders go robbed - " "what to do" meant they were working out how to pull their next stunt and find a workaround to let them succeed in giving it away. They weren't looking to find a better deal for the PIs."
I suspected that something similar would happen with this SHG takeover bid.
I'm sorry to say Harrogate4, that I doubt that the law will offer us any protection. I hope I am wrong, in theory it should do so, but my past experiences in AIM companies has left me with the impression that it is a rigged casino and those who pull stunts know all the loopholes in the law, so even though their actions are what most people would consider to be theft or fraud, are actually legal \ borderline legal.
I hope I am wrong and 20p comes our way.
I need to point out that I looked only at Section 4. The rest of it might not be the same as the UK law.
Good news - the Guernsey law on fraud is the same as the UK one -
https://www.guernseylegalresources.gg/laws/guernsey-bailiwick/c/crime-and-criminal-justice/others/fraud-bailiwick-of-guernsey-law-2009/
Disclaimer - I am not a legal expert and this is not legal advice, it is merely chit chat - but you all knew that.
A quick search found this -
https://assets.publishing.service.gov.uk/media/5e398990e5274a08e229ca0f/crown-dependencies-factsheet-february-2020.pdf
Thanks Harrogate4, but does UK law apply in Guernsey? I don't know.
Kipperfoot - "my previous no vote is in" - are you sure? If they are holding the vote again, it might invalidate the previous votes. Best to vote again to be certain of giving a No vote..
I suspect (just a feeling, no evidence) that this is the sort of skulduggery I alluded to in a previous post. They might be hoping that the PI "No" voters will think "I've already voted, I can't be bothered to vote again".
Dare I mention King World News?
India Creating Short Squeeze In The Silver Market
MASSIVE 3 YEAR CONSOLIDATION:
Silver’s Short-Term Breakout Target = $40
https://kingworldnews.com/india-creating-short-squeeze-in-the-silver-market-and-look-at-gold/