Member Info for Pedrobull

Gold at $4370 and Silver at $65.5

GLA

Comes down to market saying show me the money.

Ceres might have the best tech in the world ever but if the BoD aren't up to it then games a bogey

Today HL are offering 1m shares at 1.29p to BUY

There is no price quoted to SELL 1m shares though.

To sell a small number like 10,000 I'm offered 1.21p.

The market is the market and I hope it's wrong but you'd think the 2a licence would already be factored in.

GLA

This was 77p less than 6 months ago

Https://dlinvest.pl/en/letter-to-asli-shareholders/

Is mobile telephony and internet comms like whatsapp and Teams meaning less use of actual telephones so less revenue?

Percy,

I was attempting to highlight the power usage of modern Data Centers in relation to CWR potential business and that text was most recent I'd seen on GPUs and GigaWatts!

Guess I should of just used this text;

To power 65 to 70 percent of that 6 million GPU fleet (roughly 3.9 to 4.2 million GPUs), you would need approximately 8.5 to 11 gigawatts (GW) of datacenter capacity.

(FYI, This amount of power is roughly equivalent to the total electricity generation capacity of Singapore or about TEN standard nuclear reactors.)

Data Centre energy demands on Nvidia Blackwell GPUs taken from https://x.com/kakashiii111?s=20

This is where he is questioning the amount of chips sold - "Jensen said 6 million Blackwell GPUs have shipped."

"Let's assume I am bad at even rough and simple math and that the 6 million shipped Blackwell GPUs are correctly calculated in the numbers.

So we have 6 million Blackwell GPUs shipped since January 2025. Roughly 65 to 70 percent of these GPUs go to datacenters in the US.

To power 65 to 70 percent of that 6 million GPU fleet (roughly 3.9 to 4.2 million GPUs), you would need approximately 8.5 to 11 gigawatts (GW) of datacenter capacity.

(FYI, This amount of power is roughly equivalent to the total electricity generation capacity of Singapore or about ten standard nuclear reactors.)

Between 2024 and 2025, the US has built 3.8 to 4.2 GW in 2024 and an estimated 4.5 to 5.0 GW in 2025, which is 8.5 GW combined (Let's ignore that due to power delays, only about half of that is physically delivered within the calendar year).

So we have at best 8.5 GW, which is the rough minimum needed to power all the Blackwell chips in the US. The math is matching only if we assume that datacenters with Nvidia chips are the only ones being built in the US (excluding AMD, TPUs, and any other datacenters without Nvidia) and that only Blackwell has been installed in datacenters built in 2024, and that they were waiting for Blackwell chips in 2025 to operate.

Now some energy data:

According to the Federal Energy Regulatory Commission (FERC), the US installed nearly 26 GW of new generation capacity between January and August 2025, slightly up from the approximately 23 GW installed over the same period last year.

From the 26 GW, 3 GW are wind, 3.7 GW natural gas, and 20 GW solar, and 0 GW nuclear.

I will believe Jensen, because in this post we are just believing Jensen’s words that in the next 6 to 7 years we are going to see a bunch of small nuclear reactors and that we will all be power generators, just like somebody’s farm. So I will assume he means starting from January 2026, because so far there were deployed 0 GW of nuclear in the US in 2025.

So it means that if all datacenters that have been built, deployed, and planned to finish by the end of this year are truly completed on time, then by numbers only (simple math, I do not know the actual allocation) all natural gas built this year has been allocated to datacenter consumption, including about 80 percent of wind or around 25 percent of all solar energy."

Up 3.5% today so far on new published news

From todays RNS

"The sale is part of usual portfolio management in accordance with the Company's published investment policy of investing principally in quoted securities combined with up to 20% of gross assets in unquoted investments. The Manager is currently engaged in a number of processes that could result in the deployment of capital into new unquoted investments."

(Alliance News) - BlackRock World Mining Trust PLC on Monday announced the sale of its BHP Brazil royalty contract to Gold Royalty Corp for USD70 million in total.

The investor in mining and metal assets said the sale price is more than double the contract's current holding value of USD34.1 million.

BlackRock World Mining said the uplift increases its net asset value by about 1.8%. It also will receive all revenue from the royalty owed for production in 2025 which has not yet been paid.

Since acquiring the royalty in 2014 from Avanco Resources Ltd, the investment trust said it has generated USD38.5 million in royalty income to the end of June this year. BlackRock World Mining separately held a GBP46.8 million stake in BHP Group Ltd as of June 30.

Shares in BlackRock World Mining were up 0.7% to 740.00 pence on Monday morning in London.

Will help the Tequila sales as well

4th Nov UBS Downgrade - UBS downgraded Diageo (DEO) to Neutral from Buy with a price target of 1,850 GBp, down from 2,250 GBp. As Diageo deals with multiple challenges, shares have underpeformed by 32% this year, and UBS sees further downside risks to the U.S. spirits industry, the analyst tells investors in a research note. The firm struggles to justify how shares can outperform in the first half with Tequila negative and Diageo losing share.

Starling Bank targets £4bn valuation in secondary share sale

https://www.ft.com/content/d4714ece-a015-4828-b2d9-ec893d9a1330

Added at 45.5p Speculative Buy for me

GLA

4th Dec 2025

The Lindsell Train Investment Trust plc - Half-Year Results

https://www.lse.co.uk/rns/LTI/half-year-results-h3yktk2htly3t7y.html

Diageo used to vie for the position of the largest quoted company in the portfolio, but its performance since the boom in drinks consumption during and after COVID has relegated the holding to one under 5%. Whilst disappointing, we continue to believe that the inflation protection, growth and predictability provided by, amongst other brands, Johnnie Walker, Diageo’s collection of single malt whiskies, Don Julio tequila, Tanqueray, Crown Royal whiskey, a third of Hennessy cognac and Veuve Clicquot and, of course, Guinness, means that the company deserves its place in your portfolio. Very few things are certain in the business and investment world, but it is, we think, highly likely these brands will be being consumed around the world in 20 years’ time, and in higher volumes, assuming global economies grow. That durability is both rare and, at least in theory, extremely valuable. And we should state that Diageo’s underlying business performance has been nowhere near as underwhelming as the 40% share price decline since the end of 2020 might suggest. Over that time Diageo’s annual revenues have actually grown at a 6.5% CAGR ($20.2bn FY2025 compared to $14.8bn FY2020). It is the de-rating of the shares that has led to the shares performing so poorly. The forward P/E multiple has fallen from 21x to 15x over the last five years, while the current enterprise value (EV) relative to sales – arguably a more dependable and less volatile valuation metric compared to P/E – has also fallen over the last five years, from 5.4x to 3.1x. This is a trend we have seen across most of the Trust’s consumer businesses, with current EVs falling from an average of 3.6x sales five years ago to 2.3x today.

For me this venture capital Investment Trust is all about Action.

3i currently trades at a 6% premium to NAV with a small dividend yield.

The market will be discounting the tax implication of holding and eventually selling Action.

The question is really what is the value of Action.

"In September 2025, 3i acquired 2.2% of Action equity from GIC in exchange for newly issued 3i Group plc shares, with an equivalent consideration value of £739 million. As a result of this transaction, at 30 September 2025, our equity ownership in Action was 60.1%."

So 2.2% for £739m values Action at £33.6Bn

60% of 33.6 is £20.15Bn

3i at £30 per share has a market cap of £29.6Bn

So the other investments are ~£10Bn

£30 is too much for me, prefer to look at PE trusts trading on discounts to NAV e.g. ICGT, CHRY, CLDN, OCI, AVI, NBPE & HGT.

GLA

Bizarre that it was scaled back yet not all exercised!

3,718,555 new Ordinary Shares arising in respect of Subscription Rights not exercised were placed in full by Cavendish Capital Markets Limited at a price of 83p.

I wonder how many will take up rights at 104.6p this time next year...

Gold at $5000+

GLA

Just to keep up with this thread title I sold 5000 today at 94p

HL tell me Im getting 5400 more @ 48p soon though :)

GLA

PS - not sure we'll get the same dividend next year but here's hoping.

Added @ $158

This stock certainly rides the up and downs!

Disclosure I do not hold iii, I looked at these a while back after another PE trust I held wound up.

The fact they traded on a large premium to NAV was down to ACTION, they still trade on a premium but not so much, NAV per share last reported 2,857 pence.

Another trust that holds ACTION is NBPE which trades on ~25% discount to NAV but it only holds about 5% of ACTION or maybe less.

Most PE trusts trade on a large discount, iii was and still is yhe exception.

GLA