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Hi Rosewall
Apologies for hijacking your thread, but your question caused me to look at the issue of paying tax on SIPP covered dividends. The following is from expertpensionclaims.co.uk but similar answers came from other sources also.
"4. Are SIPP dividends tax-free?
SIPP dividends are tax-free. For whichever investments enable paid dividends, the income tax paid will be reclaimed by your provider and then returned to your account. "
I hope this helps.
Hi Lincolnite
I think it is as lovelyboy suggests and that it was Blackrock buying in at 38p rather than a placing.
If you check out the 8.3 RNS of 2nd Dec you will see that Blackrock acquired 12.4m shares at 38.71p that took their holding over the 1% threshold.
Apologies if I have got this wrong.
ATB
And the BOD weren't just satisfied or happy with the finalisation of the DFS, they were "delighted."
"Christian Schaffalitzky, Executive Chairman commented: "The Directors are delighted with the finalisation of the DFS and the approval process aimed at production increase in these exciting times for PGMs especially for palladium and rhodium. The Company is committed to its strategy, while also adding value to its projects. Further announcements will be made in due course"."
We just need the nice people back at the Licensing authority to wield their "Approved" stamp.
GLA
Morning Saxonaxe
The following is taken from the RNS of 30th Sept as part of the WK update
"The Company is now producing 4 PGM* (with rhodium now a significant contributor to the Company's metal revenue) and gold, according to the production plan and receives revenue from the refinery on schedule."
It remains to be seen what "significant" means, but I suspect this may be updated with the DFS . Either way we should see an upside from where we sit.
GLA
Djm1
I totally agree with you regarding the licensing. We should not forget that we heard about the awarding of the MT flanks licence in the RNS of 9th April but had to wait until the 25th August to hear that the licence had finally been issued. It was SevZap Nedra in that case but is does highlight that these Russian authorities maybe don’t work to a timescale that EUA holders appreciate.
This DFS licence is “expected” before the end of this year, there are no guarantees it will not overrun but CS was prepared to state that it ought to be done before year end (or words to that effect). I can live with that.
GLA
Yeah, me too.
I sent a mail to Keith earlier this week asking if we could have info on this years take at WK.
They have announced 1,525 oz of platinum for the season so I assume these details are not part of any NDA.
Not heard anything back yet..........
Hello Dore123
They have done, the following is from the RNS of 30th Sept - Interim Report - WK Update
"The Company is now producing 4 PGM* (with rhodium now a significant contributor to the Company's metal revenue) and gold, according to the production plan and receives revenue from the refinery on schedule".
GLA
Hi Dufry
The following has been lifted from the RNS of 18th August and will hopefully go some way to answering your question.
"As announced in the Company's Annual Report of 1 July 2020, a Definitive Feasibility Study by GIP for all resources on the West Kytlim Mine Permit was commissioned and is being progressed through the approvals process. Following consultation with the State Reserves Committee experts and consultants, it was agreed that mining data generated from several seasons of mining operations, combined with the Company's in-house resource database, are sufficient to warrant approval of the DFS encompassing all resources to the mineable category within all the sites of the production license. This removes a significant annual permitting hurdle and is also a cost and time saving development, as no further drilling is required to approve shovel-ready resources on an annual and site-specific basis. This in turn allows more open pit sites to be mined concurrently to increase the production volumes. The DFS is to be submitted for review and the final approval is expected before the end of 2020, in advance of the 2021 mining season."
GLA
Hi Jetcom
This was posted on the EUA website in response to shareholders questions before the AGM. Still awaiting the RNS's
"AGM 2020 Shareholders Questions and Answers
Dear shareholders, we are grateful for your questions submitted in advance of our AGM. We present the below questions and answers as a general summary of what it is possible for us to answer at this time.
1. West Kytlim Progress
As announced, our 4 PGM and gold mine at West Kytlim has been running well without contractors and without any Covid cases. The machinery used was new and from well-regarded OEMs. Production is ongoing and we continue to make shipments of concentrate containing platinum, palladium, iridium, rhodium and gold to the refinery.
A more complete update as well as an outline of capacity increases will follow via RNSs.
Upgrade of resources to mineable status is being progressed through Definitive Feasibility Study commissioned to GIP (see RNS 18 August 2020). This combined with the award of the 24.5km2 Tipil license adjacent the mine ensures a sustainable long-term low cost PGM resource for the future."