Member Info for SW16

The Rio Tinto destruction of an important aboriginal (and wider human) heritage site is making news. Yesterday, a business comment column in the Telegraph was very critical of Rio's failure and response. At 6.25am it was on the business news on Radio 4. It is now in the headlines on the 7am news on the Today programme on Radio 4.

The Stockopedia competition started at the beginning of the year, with entrants having to pick five shares. Today five in the top ten on the leaderboard have Greatland as one of their shares, and usually the best-performing.
I'm currently at number nine. Tesla was my proxy for Scottish Mortgage (the only other share I now own apart from GGP) as you couldn't include investment trusts. Stockopedia continue to rate GGP as a "momentum trap", and for a long time into this year as a "sucker stock". My other three shares were ones they rated highly
https://www.stockopedia.com/challenge/

Further clarification: RNS makes clear they expecting to produce an initial resource estimate in 4th calendar quarter, ie before the end of 2020.

Polymetal trades at about £20 a share, and when I just looked its price include a halfpenny

Mushroomkid - The UK now has no mass circulation newspapers. The biggest seller is now the Daily Mail, and that sells under a million a day. Amongst my friends, I think I am alone in buying a paper every day (although a couple have digital subs). https://www.theguardian.com/media/2020/jun/19/daily-mail-eclipses-the-sun-to-become-uks-top-selling-paper

Elise1 Percy Ingles is only slicing over the next six months https://bakeryinfo.co.uk/finance/ingles-bakery-to-shut-down-all-sites/645875.article

mushroomkid - Remember that pensions tax relief is spending by the government. I think it currently costs a total of £40bn, so some tinkering would seem likely there. I read an article sometime ago which suggested that most people didn't understand how this tax relief works - which makes it easier for the government to tinker with it

TomE I simply posted the link relating to pensions as an example of how government's have implemented changes in the past in matters where there were tax implications.
For what it's worth (not a lot), I would expect changes to be made to pensions first, probably only basic-rate tax relief, possibly a lower limit on the amount that can receive tax relief. (They could get rid of the lifetime allowance, which I am not sure has much logic). On ISAs, perhaps reduce the amount that can be put into an ISA each year as this clearly benefits wealthier people

Davielad In signing up for an ISA, you entering a contract with a provider, and that provider will say that it is providing a service in accordance with the law.
I don't think it's possible to argue that an ISA contract is a contract with the government

TomE I was not intending to mislead anyone. Here's what Parliament has to say on retrospective taxation: In summary, controversial but not uncommon https://commonslibrary.parliament.uk/research-briefings/sn04369/ - I don't think it gives the reassurance that people might like.

I claim no professional or technical expertise

I don't think that it's possible to say that it would be illegal for the government to make tax changes to existing ISAs. If changes were made, I would expect that there would be some protection for the existing amount in an ISA. When in 2006 the government introduced the lifetime limit on the amount that could be held in a pension (without tax implications), those with pension pots above the limit were protected. The same was done when the lifetime limit was subsequently reduced. Details are on page four of this: https://www.pensionsadvisoryservice.org.uk/content/publications-files/uploads/Spotlight_Lifetime_Allowance.pdf

If changes were made to existing ISAs, I would expect that this would be the model used

GGP has tested the patience of a lot of people who bought in at various points. My first buy was in January 2014 at 0.71p, and by my second buy ( April 2013) the price had dropped to 0.21. Have held continously, selling some when I've been panicked by falls, and then buying back at higher prices later. Sold 1.2m in two chunks in January 2018 for a total of £10,000. Bought about two-thirds of those back at much higher prices. GGP makes up the bulk of my ISA and SIPP. Not sure whether I should be worried that GGP in my SIPP is showing the increase in value as 666%

@mushroomkid - Roads constantly dread-locked: I didn't know that Stroud had such a diverse community

Re PRIM as a route to GGP on the cheap: there was a period when the total market capitalisation of PRIM was below the value of its holding in GGP - that's what I was referring to earlier

Re PRIM as a route to GGP on the cheap: there was a period when the total market capitalisation of PRIM was below the value of its holding in GGP - that's what I was referring to earlier

In June, PRIM sold (at 12p a share) about 30% of its GGP holding, so it's an even less attractive way of trying to make money from GGP

I had a small chunk in PRIM as a way of getting another slice of GGP on the cheap. I soon realised that the messing about with the spread meant that it was going to be hard to make anything there. The board remuneration relative to the size of the company also seemed high, particularly as only their GGP holding seemed to be doing anything. I got out and just added to my long-term GGP holding a while ago.

Interesting that the article (if you click the "5 warning signs" link) says GGP is trading at over 75% below what they consider to be fair value - which would mean a fair value price of over 50p

This is where the market mechanism doesn't work, and it's a bit like if a supermarket doesn't sell (or stops selling) a particular item: if we just go elsewhere, they wouldn't know why we had done that. In both cases we have to write to make the point

I received this from the HL helpdesk today
"Thank you for your email.

Unfortunately we have been not made aware of any plans to offer the facility to deal on the Australian stock market I'm afraid. Apologies for the inconvenience caused.

I can confirm that I'll be noting this down as feedback on your account though, which is always appreciated and reviewed on a regular basis.

You can find more information regarding overseas share dealing here. This page also contains a list of all overseas stock markets available to our investors.

I do hope this is of assistance to you however you have any other questions, please get back to me."