Member Info for Somnamna

Received the cash part last week but still no shares. I am with ii.

That is good news 3bear, I am with ii and have received the cash portion but not yet the AU shares.

The cash portion is already distribut4d.

I received the USD cash portion into my trading account yesterday. The Anglo Ashanti shares not yet, although likely sometime this week.

Thanks for the feedback. Which broker are you using?

Core not cote

It is theft pure and simple. A kick in the teeth for investors. In my opinion Horgan has no honour a crook to the cote if he accepts such payment / shares for selling investors out.

I am looking forward to seeing SteveJones explanation for what is happening, and of course from others. Is it simply gold price movement or other reasons? Also where is USD 3,000 gold?

Copied from ADVFN chat board.

shayadfn: Here's summery

AngloGold Ashanti's Q3 2024 earnings report highlights a strong performance with significant year-on-year gains. Here are the key points:

Gold Production: The company reported its strongest gold production quarter of 2024 from managed operations, producing 657,000 ounces, slightly down from 676,000 ounces in Q3 2023.

Financial Performance: Adjusted EBITDA rose 339% to $746 million, and free cash flow increased 17-fold to $347 million.

Costs: Total cash costs per ounce for the group rose 8% year-on-year to $1,172, while all-in sustaining costs per ounce increased 10% to $1,616.

Earnings: Headline earnings were $236 million, or 56 US cents per share, compared to a headline loss of $194 million, or 46 US cents per share, in Q3 2023.

Guidance: The company reaffirmed its full-year guidance for gold production, costs, and capital expenditure.

AngloGold Ashanti's CEO, Alberto Calderon, emphasized the company's focus on cost control and active management of working capital to capitalize on the healthy gold price environment

Now looking at a nice pre opening one dollar forty three cents rise. I hope it holds

Sorry I missed to add that the article I quoted below is dated 30 October 2024.

Zachs update

The most recent trading session ended with AngloGold Ashanti (AU) standing at $29.13, reflecting a +1.53% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.16% gain on the day. Elsewhere, the Dow saw a downswing of 0.37%, while the tech-heavy Nasdaq appreciated by 0.78%.

Heading into today, shares of the gold miner had gained 7.74% over the past month, outpacing the Basic Materials sector's loss of 5.21% and the S&P 500's gain of 1.67% in that time.

The upcoming earnings release of AngloGold Ashanti will be of great interest to investors. The company's earnings report is expected on November 7, 2024.

As a fellow traveller and holder of CEY shares since 2011 it is sad to see you go Hedgehog.

Well written Marmot. A question not yet answered in specific terms is what does Horgan, Jerrarsd and the board get out of this deal in financial terms. As to type of mine executive, clearly CEY's are those who mine the shareholders. Such a waste of a good company.

Yes Goldnome, I would expect the risk of CGT is in terms of selling the shares. Not too sure about the cash payment part but thankfully not an issue for uk residents with an ISA and long term non UK residents (longer than 5 years).

I should have mentioned the CGT exemption does not apply to property.

Hi Punter 72, yes wise words you are correct non-resident UK National remain taxable on UK assets.

However there is a CGT exemption avaialable if the non-reident is out of the UK for a minimun of 5 years.

As a UK non resident CEY is a very good share because CEY is classed as an overseas company, so no dividend tax for non UK residents and stamp duty exemption applies to UK residents and non residents

You are also correct in that rules of the non UK resident country will also apply, so the trick here is to live in a country that doesn't tax overseas income. Sadly in the country where I live this is now begining to change.

On the down side, a UK non resident does not have the benefit of opening ISAs, not sure about the position who already had an ISA before leaving the UK.

So for me and from what I have been able to discover so far, tax implications if the Anglo Ashanti takeover of Centamin goes through would seem to be the 30% US dividend / withholding tax.

Thanks Soloto, good info.

Hi Autonomy, yes if UK tax resident then USA shares would be liable to UK CGT but not US CGT.

For me as a UK non resident the change would seem to be 30% dividend tax.

CEY is a great share for long term UK non residents, no stamp duty, free of uK CGT and dividend tax becasue CEY dividend is classed as an Överseas Dividend".

Sady on the flip side, UK non-residenst are not allowed to open ISAs.

Hi Tibbs, I am not up to speed yet on tax implications of the sellout but I understand:

1. You generally won't have to pay U.S. capital gains tax on your investment earnings if you're a US nonresident

2. US nonresident are subject to a dividend tax rate of 30% on dividends paid out by U.S. companies.

Is this understanding correct?