Member Info for sasa43

Hi Geela - you must be psychic; I was just about to post that we only need to see you on here again to extend our 'reunion' and there you are!

Hope you and the family are all well over there in the US - you've got an interesting election coming up soon, I gather... ATB - sasa.

Hi Isphahan - your woes, not to mention the legal expense you incurred in finally getting your securities back doesn't surprise me, sadly...

The trouble with using a nominee name (which we all have to do these days, with everything being electronically traded) is the near universal 'pooling' of clients' assets within them. In my firm, which we set up in the 80's, we automatically designated everything, per client, within our nominee safe custody arrangements - it was a bit laborious in our doing that but, in the event of our failure (which never happened, I'm pleased to say), everything could be immediately identified as to which clients held what within it.

Sorting out who owns what in a 'pooled' arrangement is what takes the time and the administrators need legal / insurance cover, etc., in distributing holdings to whom eventually, hence the costs involved, not to mention the legal expense and huge inconvenience you were put to, in not being able to manage your stuff - so you certainly have my sympathies on that score.

Let's hope that never recurs and AMC finally rises to the occasion and then some! - sasa.

Echo that John; the sp rocketed after that prolonged drift, so I expect a similar re-rate before too long - sasa.

Hi Isphahan - nice to hear from you, too (as Henners has just posted, today's becoming like a reunion of the AMC 'die hards') but it's nice to see most are still around and persevering with this old dog.

Yes, I do remember our long debate about things, Isphahan, on iii and, like you, I gave up on their site after they ruined it's 'user friendly' format which was a great pity.

Quite apart from our diversification differences back then, I recall that you had the misfortune of your previous noms agency collapsing under you but I think you said that you'd managed to retrieve everything in the end, fortunately but subsequently AMC's sp has steadily declined to add to your woes.

Ergo, if any really LTH ultimately deserves to 'get out from under' here and profitably so, it has to be you!

As for me, I've never 'averaged down' from my old, somewhat 'overweight', holding bought at 7.3p (diversification, again) but I've managed to recoup the, not inconsiderable, paper loss by a few successes elsewhere, fortunately, including Horizonte Minerals (HZM) in the nickel space. They have nearly double the resource of AMC and are much further down the development road with funding for their first mine, Araguaia, about to be confirmed. Vermelho (larger) is a bit further out.

The two mines they own are laterite ores, so HPAL is likely to be employed in the smelting (can be problematic ops. sometimes) but if you're convinced about the increasing demand for nickel now that EVs and battery storage, etc., are all the rage, it looks a good 'second string' to AMC, imv.

Spongeshare have an impressive report on it, if you're interested, as well as the HZM bb, of course.

Sorry for the 'off topic' bit here, folks but thought it might be of interest in the nickel space, fwiw - sasa.

Hi speedy / 8th Oct - yes, we've all been in here for yonks; some would say too long, perhaps...

I'm sure that most of the really LTHs must have mentally 'written off' this one a while ago now, having confined it to the 'bottom drawer' and it certainly has been a trial of forbearance but it now looks as if the proverbial 'phoenix' is about to show itself again.

With AH now in charge of policy and direction, income about to roll in, the TEO still on track and a signed 'off take' keenly sought, I'd say the corner is finally being turned. Moreover, with my guesstimate of 2m tonnes Ni equiv. being reported once the long overdue drilling results are finally RNS'd, I'm more confident now than I've been for quite some time.

With our resource always being the more desirable stuff (sulphide ore) which is now deemed to be 'clean' to boot, the outlook has never been better, imv, so, maybe, our time has finally come...

Certainly hope so - sasa.

Quite so, Joe - it will be nice to see them finally...

Hope you're keeping well - sasa.

They've always been debt - free, s23pho - the LTHs have been substantially diluted in funding AMC throughout but now we own some income producing NRR debt ; marks a turning point, to say the least! The future's never been brighter - sasa.

That's a silly suggestion that 'forked tongue' remark, graking - they had a fire close to the mine recently and although it wasn't directly affected, the immediate vicinity must have been seriously disrupted and with covid reports increasing in the area, the delay in reporting further drilling reports, which might necessitate 'third party' verification if they're exceptionally good again, would probably explain it. 'Patience hath, etc.,...' - sasa.

Hi gwm - note your re-arrangements due to the new world we're in today - that's gotta be right to align one's holdings to the 'new norm', for now, anyway. Done the same thing myself this year.

Your move into GGP looks spot on, so well done you. That's the 'one that got away' for me recently (was lining it up to buy around 10p -12p a fortnight ago but got distracted) but hey ho - can't bag 'em all...

Nothing 'brave' about buying HZM currently, imv - they're poised to confirm their funding for the first of their big deposits (Araguaia) any day now and when they do, the shs should rise sharply from here. Big names and corporates are already behind this one and they're about two years ahead of AMC on mine development, with all the infrastructure already in place, too...

Ergo, well worth checking out their website to get a better handle on it / an idea of the potential.

Anyway, good luck - sasa.

Hi gwm - just seen your posts...

I hold the BRWM Investment Trust primarily for income reliability; with only 35% of it's assets in gold miners, (useful diversification, though) it won't be as energetic as AU / AG miners themselves, of course. POLY and FRES are in the FTSE 100 (big draw for Instos once pms really get going again) but FRES has a chequered record in recent times, a lower yield and I've never liked the controlling shareholder in it, assuming that concern still applies - hence POLY gets my vote on that one.

Had GGGP on my 'watch list' but being pre-occupied elsewhere, I've missed the latest surge - they don't have control over the entire, as I understand it and Newcrest (I think it is) might be a problem for them, given their record in squeezing previous juniors out of a fair deal if a bid's made.

PUR, on the other hand, owns its Canadian mine, is over funded now, if anything, with major shareholders on the register. Their drilling results have been very impressive this year and with them now going deeper into the exciting and potentially prolific '8 zone', I hope that'll continue and then some/ their first 'gold pour' is scheduled before Christmas, so it looks more reliable and more interesting to me.

On the nickel front, fwiw, I still like AMC and just lately have bought a decent position in Horizonte Minerals (HZM) which has good management by all accounts, two major nickel laterite deposits in Brazil with Araguaia, the first one to be developed, on the cusp now of funding being in place - if Nickel has a good run from here, as seems very likely, HZM's prize assets and timely financing, should see a major re-rate on the cards shortly.

Dunno whether that helps at all - just my views... sasa.

I was thinking of asking that, too, TDT - any bank paying that today would likely go under before too long, so it's just as well that was historic! - sasa.

Hi gwm - yes but it's sentiment (a human trait) which drives mkts more than anything else - AI or 'black box' trading as it was earlier called, cannot compute illogical price moves, like panic selling and they 'froze' the last time that happened in the financial 'crash' a few years ago.

Until everything is computerised / human nature expunged from the system, the mkts will respond more to human interaction - come the day when machines rule everything , I'm outta here and gladly so! - sasa.

Hi gwm - in this challenging / unprecedented environment of Covid 19 and Governments throwing the financial 'kitchen sink' at it as a counter - measure, one needs to change one's approach to the 'new normal' quite a bit, I think. Passive holdings like the old divd stalwarts in the FTSE 100 / 250, etc., are not as reliable as they once were and anything with a significant retail interface (travel / restaurants / shops/ airlines / property/ entertainment venues, etc.,) look especially vulnerable to me while this bug is still with us.

In contrast, IT, online operators, big warehouses for their products, pharmaceuticals, nickel for EVs and battery storage, gold and silver producers, etc., look a good deal more appealing to me and in that vein, I've consolidated my stuff this year from 20 odd holdings down to 10 concentrating on the latter groups in an attempt to preserve capital for the duration...

BRWM is the only mining Investment Trust I hold as a reliable income source for what they hold and, ex HGM now (which rankled me a lot) I have two decent positions in POLY and the upcoming Canadian gold miner, PUR for, with all the profligate fiat money being issued, gold and silver should do very well looking ahead - AU is, after all, real money and in uncertain times, it's the best safe haven which most investment peeps flock to. POLY went xd their 30p ps divd yesterday, btw.

That's only my take on things currently as suits my own situation, so no advice intended; we all have different risk profiles / views etc., so do DYOR as usual - sasa.

Hi gwm - no, it wasn't me who mentioned the Marlborough income fund to you - I don't usually bother with collectives. If they appeal to you , best go for the Investment Trust not a unit trust version if they do, to avoid the 'gating risk' (a la Woodford) when the mkts sell off.

IT's don't have that problem; you might not like the price to sell when the mkts fall sharply but, at least, you can get your money out if you want to. BRWM is an investment Trust, btw and pays divds quarterly which is handy.

After POLY's divd hike, the shs yield 3.15% at todays £19.16 and it's more secure than many others, imv. As for HGM, the game here seems to be over with no divd payable - if the BoD do declare one, the offeror has stated that the payout will be deducted from the 300p price they're offering. Not very 'shareholder - friendly' that but there you go - I've taken my profit and moved on now, fwiw... sasa.

Just relax, upomega - wait for the interims in a week's time, at least; you might be pleasantly surprised once again - if not, you could well move on to find something more appealing afterwards with more assurance that capitulation is warranted.

If so, do let me know and I'll see how it stacks up against this one - sasa.

Thanks for that additional observation, Almsivi - useful - sasa.

They're probably seeking an extension to the OFAC licence (utilising US equipment, if need be) too which, hopefully, will be granted again - sasa.

Hi gwm, I'm okay and hope you are, too.
In this weird world we're in right now, I'm concentrating more on those cos which are better placed than most to overcome the present difficulties and, rather perversely, benefit from it. Pm's clearly come into this category and the better quality miners should be able to keep their incomes rising / dividends increasing as gold / silver prices move higher reflecting all the fiat money being issued.

I was miffed the other day when HGM was sold under our feet for 'a song' but POLY fits the bill for ongoing exposure for me and amongst the upcoming miners, PUR gets my vote by some way. AAU and HOC are okay but I'm more wary now of the jurisdiction issues here, although GGP seems interesting.

As domestic high yielders look increasingly unreliable, you might want to consider BRWM if stable income is sought; it yields a useful 5.5% currently, is dull and boring but that has some appeal these days and has approx. 35% in 'goldies' with the rest in industrial commodity producers and thus should be quite reliable in this climate.

As always, this is just my personal view to suit my own situation, so DYOR, of course - keep well and good luck in these trying times - sasa.

Echo that, chinch / NewK... - sasa.

More the dissemination process of the core details, graking, prior to reporting, with the surrounding area being akin to an exclusion zone for a while but whatever... sasa.