Member Info for Sageman

Snorkler, I love your thinking but loads of countries are better than Italy for IHT. However, you need to be abroad 10 years to escape U.K. IHT. Check out Cyprus . 5% income tax and zero IHT.

Hi, looking at my earlier post I was referring to a couple in a marriage or civil partnership IRO the nil rate residency allowance and assets over £2m. Please note I am not giving advice just stating the rules to be helpful.

Jack, you will notice that I spoke about qualifying Aim shares and did not mention GGP. I had the same issue with GFM. No one could categorically say whether it qualified or not.The rules that you mention are mainly there to exclude bricks and mortar type enterprises (commercial buildings etc). They are not there to exclude proper business especially high risk (eg cancer research etc). I actually suspect that this will be down to each tax inspectors interpretation. I have had clients who have told me that their accountants have said that they believe that GFM would qualify but the proof of the pudding will be when someone dies.

Hi Poni, solicitors are not generally strong on tax, they do law. So ISA wrapper = all gains free of income tax and CGT. Next = the asset as opposed to the wrapper. Qualifying Aim shares are currently taxed at 0% for IHT. From 6/4 2026 they will be taxed at 20%. Please note that Aim shares remain part of the estate thus if the state is over £2m you lose the nil rate residency allowance at £1 for every £2 of assets. As I said before I don’t do geology , I do money.

I also said yesterday that the short term price action was mainly due to a reaction to commodities rapidly rising whilst the USA and Europe were close for Xmas. However, longer term nothing has changed and the drivers remain in place. I read the fool writing about a dead cat bounce…some people!

Much of the current sell off in silver is simply retracing the Xmas gain that happened whilst Europe and USA were closed for Xmas. Rise was on very thin volume. Excuse for some inevitable profit taking. The question is though have any of the drivers for the bull run in precious metals changed? Answer no. Markets never move in a straight line. Profit taking is healthy.

Hi Matty, you were early on Jupiter. Gold holdings were pretty rubbish until early 2024 when the POG really started to climb. I had zero in Jupiter gold and general until mid 2024. As I say my job is top down asset allocation. You never get it right all the time but to add alpha you need to get the it calls right.

Always good to have some downtime to reassess. The increase in silver drivers? Precious metals bull run , yes. But also silver has greater connectivity so increasing use in electronics. China has restricted exports. Ok so why precious metals bull run? Geopolitical, universally valued at a time where the USA is losing power. China, Russia and North Korea are new axis of power. Do I expect profit taking? Yes. However, are the factors driving demand for both gold and silver likely to reduce? No. Speedy says that the value of mines reduce as gold is extracted. True. But , mine increases in value if more gold discovered and more important pace of extraction increases. Conclusion : continue to hold GGP and stay long and strong in gold and silver producers. The same analysis says that both copper and platinum will be strong as these metals benefit from increased industrial use. Sorry guys , you get no geology from me (we need the Bamps) I do top down asset allocation. GLA

I have said it several times , if you want a diversified play Jupiter Gold and silver ticks a lot of boxes. If you check the performance it has done really nicely. I am maxed out on GGP and trying to chose another single stock in lieu of GGP is hard. The nice thing about holding a fund as opposed to a share is that there is less mental attachment. With GGP you do lots of research and buy in to the journey. In contrast I am bullish on gold and silver but find it easy to trade in and out of a fund. Perhaps it’s just me. GLA.

I invested 5% in GGP but it has grown to 10% of current portfolio in a portfolio that has been growing. So like many here my GGP has more than doubled. I get why a young person might speculate to accumulate and go very heavy on a stock. Similarly, an old man like myself who has accumulated would diversify. I normally hold no more than 2% in a single company but GGP is a unicorn. A once in a decade stock at the sp level I bought it at . Great geology, selling a product where fixed costs have been constrained whilst the sales price has doubled, zero debt and fantastic “laser focus” management. What a share!

I read the chat about Bamps - happy Xmas Bamps and thanks for your input this year. Bamps is great at geology but has never been a financial expert. Anyone relying on Bamps for trading tips needs their head tested. Everyone is responsible for their own investment decisions and should take personal responsibility.

This time of year is usually good for stocks and gold is often favoured. The issue then if one did take profits where would you invest in terms of another share or do you spend it (no problems with that) or wait for a market downturn ( probably will happen when the next US earnings season arrives) to reinvest. However, if you are not wanting to spend it why would you sell now? Surely better to ride out this positive period. The bulk of my portfolio is in diversified holdings with Gold miners featuring strongly and GGP now at circa 10% of my portfolio due to its spectacular growth. Personally, I am not selling anything and will be toasting Shaun on New Year’s Day . I may top slice at some stage but not for some time.

I don't believe that Bamps post has had much impact on the SP today. Bamps is good at geology and understanding the mine itself. I don't believe that he has ever claimed to be a professional trader. Many people set £5 as a short term target and I would expect several people to have locked in a little profit following the recent strong gains as shares do not rise in a straight line. The fact that £5 has held is a big positive. As I can't think of anything else with better prospects for 2026 I have not sold any. GLA

If married no IHT between spouses or civil partners

There is no IHT between spouses! If you are doing IHT planning remember that there is no CGT on death. So if you have a big gain on shares or a rental property put it in the sole name of a spouse if they have a terminal illness. Will it to the survivor who receives it into their assets at the value at date of death. You can then sell with no/little CGT and gift for IHt. If you have a really good adviser they will advise you of business relief which enables you to keep the money but have the asset not taxable (up to £1m) after 2 years. I am rubbish at geology but money is another matter. This all sounds very contrived but over the last 30 years in practice it has never ceased to amaze me how focussed people become on avoiding tax for the benefit of their loved ones when facing a terminal illness. The business relief schemes are a godsend for over 80’s who would back themselves to live 2 years but are less certain about 7 when so many of their friends are dying. Hope this helps

GFM is one of most favourite shares. The deposit is great as are the management. My sole concern is the geopolitics and in particular what will happen when China take control of Taiwan? I have been in since 2007 but now only hold 44,000 shares having moved the bulk to GGP. I bought them for 32p and CGT is an issue. If this mine was anywhere except Russia, North Korea or China (lol) I would be loading up because it is phenomenal.

Analysts projected £5 to £5.90 by Xmas several months ago. At that time POG was barely over $3000, we didn’t have the Haveiron DFS and additional drilling info at Telfer. Accordingly, my view is that whilst the sp will always fluctuate this is based on firm ground. I am not selling. GLA.

There is a difference between disclosing case sensitive material facts and simple information such as the case is proceeding and we have a court date of xxx. I am very aware that information that could materially impact the case cannot be disclosed or discussed. But complete radio silence is unnecessary. You may find my posts strange but CE legal did not respond when I tried to register (and I was in their timescales). To thereafter be forced to sit in the dark makes my blood boil. In the meantime shares cancelled, tumbleweed…

Wrong - I did send in my application on time! I sent it several times but let’s move on. The fact that I am posting on here has nothing to do with any success that the complete lack of action group has achieved it is to gain any information whatsoever. Shares have been cancelled, no news, no legal victory, no prosecutions, just deafening silence. If the group is successful then precedent is set with the guilty parties culpable such that anyone else could easily claim but without the childish cloak and dagger secrecy nonsense. To pretend that literally everything is secret and that any information would be prejudicial is at best misguided and at worst bordering on paranoia and delusional.

In terms of the action group I tried to register at the time. I got no response from CE legal despite sending several emails within the timeframe. Lawyers are rarely knowingly underpaid and once one action group wins then others would too. It is how it works. I have no idea why CE legal are not happily accepting extra funding because costs increase with time. This was never a fixed cost legal action. This whole narrative of total secrecy because it may impact our case is ridiculous. Yes there may be items of detail that could have an impact but all legal actions would be known by the defendants. It follows that to have a blanket ban of secrecy so that no “progress” is disclosed at all is unnecessary. In the meantime action group what has been achieved? Shares cancelled. No money received. No news. Seems like it should be called the COPL inaction group!

Hi Matty, so sorry to hear about your dad. You deserve some luck and GGP is a unicorn. Ride it and enjoy it. But POG is key here too so don’t fall in love. Lots of gains still to be had but de-risk if/when POG drops. I expected £5 by Xmas solely from analysts opinions (25p old money with some analysts at 29.5). Shaun’s presentation suggests that if POG stays healthy £5 will be comfortably exceeded . Here is hoping….