Member Info for Ricardo2019

> Maybe they can take on #ufo, the board is utterly incompetent

We would need an acquisition with competent execs, or have someone in mind to parachute in immediately, else there's the risk of distraction from our core goals. SD covered this risk at the Town Hall and I doubt he'd be interested in buying a clown show.

How's the Iran thing going? I assume done meant done in.

Hi JoesStocks, That was my first physical KOD AGM attendance so no idea if the norm for KOD. However they did say it was all newly made to go with the new logo (and IIRC a redesigned website?) at the time. I got a baseball hat and a notepad. There was also a ceramic mug available, which I didn't take as I didn't have anything to carry it safely back in.

I've also been to a few GGP events and not got any merchandise. Though there was free wine & beer, and GGP is delivering huge returns so I'm not going to complain about a lack of hats & notepads there!

Last year two retail investors, both of us LSE members, attended the AGM. I was able to talk freely with the board members (including BA) and mine ops manager and ask any questions I wanted (and claim some free Kodal branded goodies). I'd recommend it to any seriously interested investor here, as there's plenty of time outside of the AGM formalities to ask any questions. It was also good to meet the other LSE member present.

Unfortunately I can't attend this year due to work but you should consider it if your diary permits.

My top tip - don't forget to take photo ID for the security check in the foyer.

Hi Toby1967, yes you're right about the tax relief (assuming a higher or additional rate tax payer and/or taking in all in one go) and also about the pension gains. But the ISA being totally tax-free has the advantage when the time comes to take the cash.

Most people will use a combination of ISA and SIPP - and will aim to be basic rate taxpayers in retirement, probably spread withdrawals of the 25% tax-free pension portion over many years, and top up income from an ISA - so hopefully avoiding 40% tax.

If you were taking all the money out in one go, then I'd guess at the ISA winning out. Yes, the SIPP would have a higher pot value and you would get up to £268k tax free, plus your personal allowance (if unused), but you could have a pot of a million if you'd invested wisely. So after 300k or so you are going to pay 45% tax on that. The ISA would be all tax-free.

Of course, this is a terrible way to be tax inefficient, and probably not the best way to take pension money for the vast majority.

But but.. you asked? :-) Anyway, if you aren't working then a workplace pension or SIPP will possibly be of less benefit to you. For others, especially higher rate taxpayers, they are definitely worth looking at - and understanding how to best (tax efficiently) draw from them in retirement.

No-one can answer that for you without knowing your marginal tax rate now, considering your likely tax band at retirement, and how much you might already have in SIPPs - and your goals. I recommend a chap on YouTube called James Shack - a financial planner. Very useful videos. This video may help you: "The Simple Investing Question (Almost) Everyone Gets Wrong": https://www.youtube.com/watch?v=zHVKhOoEmMQ&t=67s

He's quite funny but must be so short of things to do with his life.

Top work, fleccy, thank you.

Shaun's comments at the TH on why we might use the debt finance facility when we are generating enough cash to finance Havieron seemingly contradict your view on this.

> Are we expecting any SP movements once comfirmed or is it priced in already?

Only partially priced in. Anyone is isn't bound by rules such as needing to wait for the FID has surely already loaded up. But the 'go' decision will trigger buying from the most cautious, larger investors. I don't expect massive daily increases immediately, but sustained increases over a longer period.

Hey Fleccy, I worked at LGEN and LGIM for 13 years and have a deep understanding of the business.

This sentence is absolutely wrong: "Because L&G operates at an immense scale—managing over £1 trillion in assets (0:08)—even a minor percentage increase in claims processing efficiency via automation represents a massive financial and structural reinforcement for the business". Seems the AI totally misunderstands the role of AUM in the LGIM part of the LGEN business. That AI post is not credible in the slightest. AI slop is polluting the internet, we can all play our part in stopping that.

> pension funds

...are traditionally very cautious so I would be surprised if they'd invest in a high risk jurisdiction like Mali. Please happily surprise me, if you can, with some evidence that pension funds are investing in similarily high risk countries. Otherwise, you are absolutely right in that they (and the wider market) likes to see a track record of production, and so a bit of patience will hopefully serve us well over the longer term.

Keeping on topic with investing would make for a better atmosphere. The insults are rather unnecessary. Especially for the trivial matter of a duplicate link.

> I would perhaps have expected some of this to be put towards a buy-back scheme

Buy back schemes are typically regarded as useful for companies who don't need the money for growth opportunities. Your expectation seems a bit odd for a new miner. If you were talking about LGEN then that would make more sense.

How about "The Rising" by Bruce Springsteen?

> If, and when, any dividend was distributed, I would be automatically reinvesting it, for a bigger slice of the pie, further down the road.

My wife really wants a new kitchen. What I really want is a round number of shares. Already in deep so don't want to spend more cash, but I could be tempted to reinvest any dividend if it gets me the round number of shares I have in mind. Is this the first step to madness?

Thanks cszjrh01. I see the accounts are now available to view: https://find-and-update.company-information.service.gov.uk/company/09734404/filing-history

I've received the AGM notice and a proxy voting form from ALGW IR this morning.

AGM is set for 28th May. There are special resolutions to vote on. So it's worth getting hold of the Notice of Annual General Meeting and Letter from the Chairman if you are a shareholder.