Member Info for redeyemines

Alaric---looks like I've missed a step on this DWT-----you are right, I have to fill in the V2a form.
-Had a look at your link, and the form, but wondered what I was going to do with it.
-By the look of it it has to be sent to the "Tax Authority" to be certified and stamped, and by that I take it that's my TA.
-Trouble is , i'm sure they won't have a clue what it is, as there doesn't seem to be any proper explanation, or indeed any reference as to who should be dealing with it.---Surely you didn't just send it as it was, did you ?.
-Have I got this right Al or am I missing something ?
-ATB----R E M
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So finally we will get to the nitty gritty and start to put a price on the value of the whole project.
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-An obvious next move i suppose, but it's got all the hall marks of GCM bowing out and leaving it to our affiliates and investment partners------------what price a buy out of GCM ??

"It is intended that NFC will acquire an interest of 5% of the joint venture entity from GCM based upon a valuation of the Project to be agreed upon with GCM or its affiliate or investment partner holding the balance of ownership of the Project."

Pretty sure one of our MOU expires tomorrow, so we should be getting an RNS either this afternoon or in the morning.
--Lets hope it's an extension, and not a walkaway.

Al---I got that letter right at the start when i first submitted the forms, but then they started the raising other points, and insisting on the CoR....(thought i was going to be able to bypass that with NI numbers ect---but no)

This is an old topic now, but it does drag on a bit, and to be honest i STILL have not managed to get any cash from the Irish Tax Authority, although I live in hope, so here are all the steps.
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-Despite what others have said here, I don't believe there are any short cuts in the process, so I will tell how it has gone for me.
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-Firstly you have to get the form to claim the refund---------the link is below..
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-Then you will need a Certificate Of Residence from HMRC---the link is below.
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-Then you will have to go to your Broker/Intermediatory and get from them a Consolidated Tax Certificate for SLE (you may have to pay for this about £10--£20 depending on who you are using.
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-When you have the CTC, and the CoR,-- send them together with the form to the DWT dept in Ireland --(the address is on the bottom of the form).
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-If you have done all this correctly, eventually the ITA will contact your Broker/Interm and ask for a Block Dividend Voucher.
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-Once they receive this, then you should get paid.
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-Simple isn't it.----------good luck
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-https://www.revenue.ie/en/companies-and-charities/documents/dwt/dwt-claim-for-refund.pdf
-https://www.tax.service.gov.uk/shortforms/form/PT_CertOfRes.

Been trying to get a link to this article, (i'll have another go ) but there is another point that stands out.-----
-OF says he now intends to pay out up to 60 % (sixty) of spare cash to shareholders.
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See there was a press article today regarding SLE moving domicile from Ireland to the UK.
-OF was quoted as saying that the problems caused by the 25%DWT has affected not only retail but also institutional shareholders, and the company is seeking to move to the UK.

Well Gooner--I am almost at a loss as to how to answer you here.---------Almost.
-If you truly believe that the likes of Searcher, Bees ect (and probably myself at times), take the time to post on these BB's just to mislead people, and make money at others expense, then I wonder why you bother to read and post here at all.
-People invest in a share having done whatever research they can, and sadly for some stocks, things don't work out as they hoped, and that leaves them in that most dreaded of positions.
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---Do you cut the holding and take the loss, or do you sit and hold and hope for better times.
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-Nobody can advice on that choice, it's down to the individual, and I'm sure that many long term holders are now stuck, head down, and nursing big losses, so it's no surprise that they have stopped posting here.
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-When there looks to be light on the horizon, then yes, people will get enthused and post, and share their enthusiasm with others------that is what this BB is there for.
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-Yes there is a fare amount of ramping that goes on in the good times, but that is from the usual suspects (we know who they are), and from the multitude of "day trades" that always pop up when a SP is rising, but it is not from the LT holders.
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---You seem to be somebody who has invested in the hope of making a "quick profit" and who has instead made a "quick loss"
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-Take it on the chin and stop looking for someone to blame--------------it is down to YOU, the same as it is for everyone.
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-This share is, and always has been, a total gamble--------you know that-------------it's either £100 a share or 00.01p.
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-If you don't like the odds , move on, --if you want to get involved, fine-----but don't whine.

Delisted

FFS Callas--------------read all the posts from the Finals back in June-----it is all well covered, over and over and over again.----------. but of course you know that don't you.
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-What is it with you two eh ????

Thanks Mc i thought is was just me being dim-------so we have $10 mill to add on to our bank balance in the near future-----
----All debts cleared, ---
--All future ventures funded (and more to come maybe)
--cash heading our way
---and $30 mill in the bank
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-what's not to like.

Mcleon- --still cant find that $5 mill mentioned---are you sure, ----it looks to me that we still have the $10 to come.

That's all old news, as well you know, and we heard all this from you on the last set of figs.
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-You know as well as the rest of us, that the new Pipe Line and FSO, which are coming onstream shortly, will stop 90 % of these historic problems.
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-We have discussed this at length, many many times.
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-You seem desperate to try and generate some selling, is it you (or your MM friend) that has the buyer----or is your short still open ??
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-Don't reply ---I really can't be bothered getting into any sort of conversation with you.

After paying out $2 mill for a SBB and $33 mill in a special Divi, plus investing $15 mill in the ELI pipe line, and setting aside $6.8 mill for the OZA project, we still have $22.2 mill in cash and equivalents .
-Not sure if we have already received the $10 mill that is due to be paid before Oct 6th, but I doubt that amount is included in these figs as they only go up tp Sept 18th, ---but even if it is, we have a very strong financial position, we no debts, plenty of cash in the bank, and plenty of cash due to come our way.
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-All in all --a very satisfactory set of results

Well you're doing better than i am---i'm still waiting for the Certificate of Residence from HMRC, was supposed to take two to three weeks---it's been two months now.

Just been having one last listen to the pod cast with Malcy from last month, before I delete it.
-This was pre the ELI deal announcement, and I wanted to see if it was hinted at in the interview, --yes it was almost there, if you filled in the gaps,----------- but so were other things, and they were even more specific.
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------"We are looking at a couple of smaller assets, and lending people money to drill an extra well, where we get all of our money back, or part of our money back, and also get a share of the extra oil produced"
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-If one of those assets was ELI then we still have another J/V to come, ------but maybe these "couple of smaller assets" are in addition to ELI.
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--OF never sits still

Nice find Pap, --but got to laugh at this bit, as I was a nipper (now retired) when I first heard it.
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-“It’s not true that we are not doing anything about coal development. We’re conducting different studies on coal,” State Minister for Power, Energy and Mineral Resources Nasrul Hamid told the webinar in response to the urges for using local resources like coal."
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-But the bit that is still the sticking point is
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-“But that our Prime Minister’s priority is the people and the environment first,” he said.
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-Leaving it in the ground for future generation was her famous line, --but---we are now into that "future generation" ---------------so maybe, just maybe.

Just been told by the Irish Tax Authority, that they will not accept a NI number but require a Certificate of Residence (form V2 ), what a palaver.

x

The numbers are starting to really stack up now-even at really conservative estimates. --here is a very quick add up.
-This Eli deal could earn us something around $17 mill a year (and that does not include the 14% loan coupon)
--Our 10.8 % indirect holding in OML18 could earn us close to another $20 mill a year.
--If Barr comes off, depending on production rates, that could earn us another $10-$20 mill a year.
------------Plus all the other bits and pieces and we are looking at at least $50-$60 mill a year SUSTAINABLE.
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-Now we are in a position to pay regular Divis, --maybe-5-6p a year.---That should now be classed a Yield and not a "special one of"---------time for a big re-rate here