Member Info for Sotolo

Thanks Somnana. With us not getting the withholding tax on the divi on Anglo shares held our ISA, I am wondering if it is worth selling some given the price is high and exchanging for Hochschild that is bombed out temporariily from some higher costs, likely to recover at finals next month, likely to have the dividend restart also at finals next month and it will be tax-free in the ISA? Anyone’s thoughts.

Don’t worry onedb, it is a fair hit for having come wrong on cost guidance and more than that handling it so badly, plus with such a huge rise far bigger than rivals the share was waiting for a reason to whack down. . However soon after the finals in 5 weeks today I reckon we shall be recovered so just hang on or get more, I am and I have

Yes indeed right from just after takeover day, I first sold the Centamin to crystallise the gain before the budget and bought Anglo. I sold a few of them in fact last week to buy more Hoc as they are so overbooked out as were we. Missing Mr Tibbles etc, where have you all gone, sold not realising you would reap the profits of Centamin here. In my opinion the price is higher now than if there hadn’t been a bid by maybe 15-20%

Well worth hanging on to, now nearly £1.90 in Centamin terms, I am so maybe count your luck you haven’t been able to sell yet and more to go methinks

I said a fall to 200p was justified by the increased costs and how they were promulgated/justified inc the almost incomprehensible conference call. But given the froth that needed taking off after the mammoth rise it unsurprisingly went too far, making Hoc a raging buy. However now the rising gold price has taken care of the increased costs and Bonkers is right. Usually I expect our results will lead to a drop, my hope/expectation is the finals in a month will take us to a new high, especially if gold and silver continue on their tear, with good news on exploration, a better forecast including aisc maybe even slightly down and a restarted dividend, plus news of other mines inc Volcan, and Mara a going well

I totalled a naughty extra £44k in Hoc on the way down last at 1.71,at an ave 1.76 as this has been so way overdone; Froth needed taking out - it had risen near 4 fold - but we should have good results in March and if gold holds up along with good forward guidance, good exploration and a restarted dividend after long gap to my mind should be considerably higher.

Etus hope we are all right

As posted before what are you doing with Barclays stockbrokers? They were good from Albert e sharp to Charles Schwab but sank as Barclays with no interest in a quoted share investor in my experience. It was such a huge improvement moving to Interactive Investor - The only thing I miss is all the presents they used to send me from malt whiskey to wine and money, for the many mistakes they made. I still keep all my current accounts Barclays, but with the investments please do yourself a favour

Yes we might get lower dividends but we are part of our large growing company and as a result of the takeover our share price is up 50% to 180 which is more than peers and I don’t think it would have been without the bid so I remain very happy with it

No but we will pay withholding tax on it and not get that back if in an isa. Good news is in Cey money we are at all ti,e high of virtually 180pso worth it for those of us who have hung on and 50% above where it was before offer albeit with a higher god price but GREAT

Mike would Tharisa be breaking even or making losses at these prices, chromium looks like down a third on last year if I have it right?

Wise of you autonomy, I am always too quick! I think Hoc is a good company so for me the big question is not their higher costs (look at rivals like Anglo we have got) but if gold has hit a double top or will break through to new highs which would obviate the extra costs?

However Fogthemogg, the Hoc rise compared to rivals was justified imho , as a complete turnaround from running out of gold and political problems to investing in new mines in new places. A few months hiccup is little in the bigger scheme of things. However it had gone too fast and needed a reason to pull back. I think it is currently a great buy. When financial year end comes in March I think we will get a renewed divi and find a forward PE under half many rivals so shares should shoot again Hoc has always been a flighty share, buckle your belts

I hav posted before that when Hochschild share price fell below Cey it was time to swap. Hoc soared above Cey earlier this year and even with the takeover it was way ahead. Now Hoc has tumbled, as they do, and cey level pegging with Cey using the Anglo takeover figures, so even though cey is only a small part of Anglo Hoc now seems comparatively undervalued compared with Au so I have sold a few of them and bought Hoc

Most brokers way overestimate gold shares - they have an interest, better if more people buy. The shares had gone too far too fast, over double in a year, and got ahead of themselves. A 5-10% rise in AI translates to 15or 20% fall in profits, so a fall justified. More than that the market is frightened by a management that can say on course in October then come up with this cost rise just three months later. All of that combined means the fall is justified but why to my mind double what it logically should have been (to around 200) and with decent full year results in around 6 weeks, plus a dividend announcement then and IF PM’s hold up, we should be back above 200 imho.

Yes Mike they have been gone for quite a while without explanation, usually it is because Ilya is away but if so it is a very long holiday? Or maybe while the sales prices were rising (well at least chrome more recently) it was worth putting there but given the prediction of soaring PGM’s a few months ago that has yet to happen I guess doesn’t look good now to post what means lower profits each month, but good comms is actually vital for a share price, as it engenders trust which is a key commodity in investing. You see Hochschild’s over 25% fall this week on costs so different from what we were told to expect just three months ago, poorly managed with insufficient explanation of what is happening and what next. It is the poor comms that hits the shares so much harder imho, investors feeling uncared for by the company. Although the combatative South African nature of Musk is in vogue now it would be nice to have greater care for investors small and large here, for investors are buying into a story and that depends on the storyteller too. Why are you not answered, why were the likes of Tiger etc scared off by insufficient, or insufficiently kind, explanations of Karo investment worries and seeing threats posted here instead, a first I have seen on any board, and why have these weekly figures disappeared. If Ilya is away or they have been stopped just post something on the Tharisa investors website. So some good old fashioned honest PR keeping us all in the loop so we don’t think this is a company run just for the boys which it probably isn’t might help. I still believe this is a great company but the PR is a worry. All just in my opinion, I have probably got it all wrong so please don’t shout at me.

Super, if you listened to Edouardo L, he also said our costs were much higher in Argentina due to Peso and in Mara Rosa due to late ramping up of production. He also said Maro Rosa production would be lower this quarter due to heavy rains (tho should recover later on) and it appears costs likely to stay higher through 2025. Hence analysts lowering expectations and price falls today tho I expect it to recover to £2 - all depending on PN prices of course

Even harder to understand Edoardo L in the conference call than the results, mainly as his thick accent over a fuzzy line, but also he did not illuminate a lot further for me other than saying costs might not be as bad as expected due to exchange rate conservative assumptions if I got that right? Anyone else?

…or a miserable one, however still doubled in last year but of course from a halving

Sadly I only had funds for 1601 shares but that brought me to a round 600k boo hoo. That is it for ever, no more purchases as far too many eggs for me!

Oracle, I actually think the fall is slightly overdone so have bought a few more, Mara Rosa is up and going, Capex is high but worth it as exploration going well ,and the Argentine economy is improving. The worrying thing I don't understand is why forecast 2025 aisc is quite so high for next year but for some reasons, along with sky high San Jose costs, Mara Rosa is not bringing down overall aisc as much as it was expected to. San Jose now looks like might go the way of Arcata and Pallancata but Inmaculada and Mara Rosa look great, while no one seems to want Volcan which should maybe be written down. Finally hasn't some cash gone to Aclara last quarter?