Member Info for sasa43

No 'MM' shenanigans here, carvegyber - FRES is on the main mkt, so order book driven.

A few weeks ago, I cautioned on here that it was better to await these results before deciding what to do and one has to say that NI was right with his 'downbeat' assessment a while ago. This will recover over time but there are better stocks in the pm space to consider meanwhile, like POLY whose figs. are out tomorrow.

Assuming these are encouraging once again, they should do better than FRES, in the short term, as they're in the FTSE 100 (where FRES used to reside until late last year) and if AU / AG prices resume their upward momentum, the Instos / trackers, etc., will concentrate more on this one, imv - so a better home for your money, pro tem - just sayin'... sasa.

These should be another encouraging set of figures, given the higher gold / silver prices prevailing since last time. Subject to the announcement, POLY shs look the most appealing in the pm space to me, given that they're the sole 'goldie' constituent of the FTSE 100 right now, too - sasa.

in economic terms, the likely stress point will be funding to tide over co's for the duration of it...
That will affect debt laden / leveraged businesses the most, whereas those having no debt or bondholders to worry about will be much more resilient and especially those debt - free businesses with an abundance of cash on the balance sheet like RRE and SQZ.

A rare and reassuring position to be in right now, imv - sasa.

Hi Red - well, everything's currently up in the air right now, as we all know but thanks for the link to Lobo's commentary on the present hiatus; he sums up matters quite well, I'd say...

Physical gold is the obvious 'port in the storm' to go for in such conditions but it's relatively inflexible most of the time (unless the bullion's held by an agency for you which involves 'third party' risk and thus nullifies the 'independence' of it) hence my preference for quality miners where some income is also generated - quite useful in this yield starved environment today, too.

The Instos will favour the likes of POLY (being the only one in the FTSE 100 right now) and when the QE programmes get going again shortly, they're likely to step up their involvement accordingly.

As for the COMEX shenanigans, this has been going on for yonks, as you know. Many legal hearings have come and gone regarding such manipulation and with the FED (owned by the top six US banks, of course) keen to avoid embarrassing their currency too much, I guess it'll continue until finally 'the game's up' but only when it's prohibited by law.

Generally hunkered down currently, although still quietly adding to our 'wannabe' PUR - today's price seems especially tempting, I must say! ATB - sasa.

Around today's level of £15, the 5.65% yield on offer currently is not to be sniffed at in the present, yield - starved, climate either, especially if held in an ISA or SIPP. The divd is umpteen x covered to boot! Just sayin'...- sasa.

Yep, you're right Sparky - in the end we're all dead and the end is coming to us all...
Meanwhile, I like the idea of buying a pile of cash (like paying 90p for £1 of 'readies' ) with the cash generating business thrown in for nothing.
Ergo, just bought another 2k shs at £14.98 earlier today - sasa.

Those buyers of the gold contracts you mention, BTB, should demand physical delivery of the gold when expiry nears, rather than trade them out as they usually do.
That risk would soon put a stop to the constant manipulation of the AU and AG mkts - sasa.

When peeps run for cover / panic sell, 'don't fight the mkts etc.,' real value emerges, though, for those looking a bit further ahead.
In the interim, gold comes into its own as the best 'safe haven' for those wishing to ride it out (POLY, btw, is the only 'goldie' in the FTSE 100 right now) along with the most resilient energy companies having little or no debt but with substantial cash on their balance sheets. We have the latter here in spades, so that's a major benefit to comfort the patient holder in this climate - same applies to Serica, too, imv. Just my take on things, fwiw... sasa.

This has gone to sleep recently and has yet to reflect the sharp advance in the gold price over the past week or so. Just bought some more before the 'spotlight' returns...sasa.

Refreshing to see such a sensible post on here, Intrepid; my sentiments entirely in addressing a situation like this, along with your closing overview, with which I concur, too...

In essence, this will either prove to be a 'crock of gold', given the urgency of the hour / the laudable business they're in or a 'crock' of the other stuff. Given their perceived leadership in this topical area and the potential, the likely outcome is heavily weighted towards the former, imv, so GLA who are 'taking a positive view' on this right now - sasa.

Echo your comments on both HGM and POLY, rylidan - if gold embarks on a tear from here, POLY should do especially well, as it's the ONLY gold miner in the FTSE 100 right now and the Instos / trackers, etc., will have to go there for exposure...

These two are my favourite picks in the pm space, fwiw and their decent divds add to their appeal, of course, in this low yield environment - sasa.

Good response to Alessandro's post, dickupham; was on the point of making similar observations myself, fwiw...
The CEO has officially stated that the financial impact of the interruption to production "will be mitigated by the revenue sharing arrangements already in place", so no real setback here, just an annoying cessation of output for a couple of months envisaged to remedy the problem.

As for the divd declaration to be announced in April, this will be predicated on the 2019 results already 'in the bag', of course, where earnings cover should be higher than the 2018 figure of 22p ps (my guess is some 30p ps will be reported, fwiw) - ergo, there's ample cover for the maiden divd to be announced then.
A 5p ps divd would be well within the Board's declared policy of a 'sustainable' distribution, imv, putting the shs on that near 5% yield and you don't get too many E&P issues on AIM offering such an income stream that I know of, apart from RRE...

The value argument here is well under - pinned, self - evidently - sasa.

now back around the low point of a couple of years ago but just before the 'big deal' was announced back then - maybe we'll see the same thing happen again shortly; hope so!
Meanwhile, the shs are well bid (32K odd v a nominal 350 shs on the offer on L2) so waiting patiently for the resurgence once more - sasa.

Yep, agreed, TDT - he came across very well. No flannel from him; Mr Habib seems to be a seasoned 'vet' at what needs to be done to finally bring this baby home over the medium term.
His refreshing approach is certainly a very welcome development - sasa.

The 20c divd (15.5p equiv.) in case nobody's noticed....sasa.

Well, on the divd question, I'm sticking with 5p ps, fwiw, as it'll be predicated on the 2019 outcome where I anticipate a reasonable improvement on the previous year's eps of 22p - in the region of 30p eps or more is my guess, to be reported in April.
That would be 6 x earnings cover which is ample in meeting SQZ's avowed policy of a sustainable / conservative distribution policy to put the shs on a 4.5% yield around today's lowly price level.

Yes, the BoD will be mindful of the sharp decline in the gas price in the current year but against that the additional 20% hike in the BKR revenue share this year, coupled with the protections under the terms of the deal / some timely hedging of the gas price, etc., should afford a good deal of resilience in the eps outcome in 2020, provided the caisson repair job doesn't extend too much beyond the two month timeline envisaged. Just my view, anyway - sasa.

in yesterday's Sunday Times, Business section, outlining what David Sleath, our CEO, has done in re- shaping the Co and what he intends to do henceforth, i.e keep SEGRO ahead of the curve in the industrial warehousing business and remaining No I in the industry....

All good stuff ahead of the F/Y figs out this Friday - sasa.

Yep, quite agree, NewK - those Cos like us and RRE with such attributes are best positioned in this climate, so just sit and wait, upomega - patience, or 'aggressive inactivity', as I tend to call it, will soon bring its own reward, I'm sure - sasa.

Woodford, too, helps - sasa.

Try Neil, Farmertally... sasa.