Member Info for TerryM1

With GDP and other metrics we are in an Alice in Wonderland world, good GDP means more money to spend but will potentially delay BOE rate cuts so likely to drop SPs.

What matters now is interest rates which depend on inflation, we seem to be a bit like CPI with the jam tomorrow as potential rate cuts are being put back.

Skier1

When it gets back to my buy price of around £18 like Clued I will get out he champagne, perhaps a half of shandy for now which I can cry into.

Notrex

You like myself understand the different type of investors, those who invest in Oil and Gas, Banking etc are looking for dividends so for a gas company to destroy the dividends makes no sense. Especially when one of the main reasons given was for BBs which seemed to be another thing now missing along with the dividends. The simple truth is Rusty wants to run a bigger company so he can pay himself more money and there is no other way than to take the dividends and buy more gas wells even though there is an over supply of gas. Of course he was too important to take a income reduction because of his dividend cut so he simply gave himself more shares, nice work if you can get it.

"He has pivoted away from outdated dividends"

Really, Oil and Gas companies are in a mature industry like banking Insurance etc so pay a high dividends not a growth area like AI where there will be low or no dividends for a time.

I like dividends otherwise what is the point of owning shares in legacy industries. For capital growth I have bought Gold and Uranium, also Uranium miners, let see if DEC can outperform the likes of Cameco, while DEC SP has fallen off a cliff my Cameco shares have gone through the roof. Also all my other Oil and Gas shares are doing very well, partly due to increased dividends and the huge BBs they are making to offset the ESG sell offs.

"If current trends continue, DEC will be £20 by the summer"

If so I will be out to a company with good dividends (I am getting around 5% on what I paid, less than my Santander easy access account) and ones that does not lie to shareholders. We can dream that this nightmare investment will be over.

"The future is important not the past"

Those who fail to learn from history are doomed to repeat it

BOE can say what they like but they will follow the FED, sometimes right away sometimes with a delay. All in all the BOE is a waste of time concentrating on ESG and WOK issues, all we need is a simple computer program that follows the FED makes the odd useless comment (just choose at random from a list) replacing the overpaid Andrew (out for lunch) Bailey and his cronies.

Https://finance.yahoo.com/news/uranium-stocks-soar-bullish-goldman-173921891.html

I bought some gold at the $1900 Oz level now waiting to sell to take some profit but will hang on for now. The current rise is said to occur because of the Chinese are buying gold instead of property which has collapsed. Gold is predicted to go up as/when interest rates fall but so many factors influence the gold price.

As for Russia they produce a lot of gold (Polymetal biggest miner) but not easily sold so I believe they get a lower price but the Chinese are buying. Bitcoin (which I don't understand enough to buy) is a good way to get round sanctions, probably why it has risen but I guess not for Governments to buy who will stick with gold.

With all that said I still prefer Uranium either buying U3O8 by buying YCA or Miners like Camerco, I have put a lot more in Uranium than gold as predicted world structural shortage.

As for UK house prices they will probably stay strong due to the vast numbers entering this country, they have got to live somewhere.

As always DYOR.

On the subject of property I am really annoyed with the way the government tax rented property, I can sort of understand the logic in the UK (though I personally disagree) but they apply this to foreign properties as well so clearly just another tax grab. I am planning a move to Gibraltar and want to buy a small property and rent it out before I make the move in a around 2 years time to help establish a connection for residency. However with the UK tax on any rented property it makes this unfeasible, another great change by the so call called Conservatives.

Natural Gas Producers Are Ready To Pounce When Prices Rebound

https://oilprice.com/Energy/Gas-Prices/Natural-Gas-Producers-Are-Ready-To-Pounce-When-Prices-Rebound.html

You can add DEC to the list of shares with no SD.

"Mine are in an ISA with ii and divi there is paid in gbp."

That is because you cannot hold $s in an ISA, do II use the DEC dividend exchange rate? mine are in a SIPP where you can hold $s and II do not give you a choice but you can exchange USD to GBP at 1.5% charge.

With II you have no choice but to be paid in $s (I tried), you may make on the exchange rate but II charge 1.5% conversion charge. I have been keeping the $s and buying US stock, if DEC delist from London I assume we will be able to then buy DECs US stock in $. However I am not interested in adding and may well sell at some point now the dividend has been cut, I know it is good at 10% but can't trust this will not happen again. I prefer Uranium stocks for CG and many other companies, like PHNX (which I already own )and REITS for reliable dividends.

If you have enough $s in II or intend to keep it in $s for a time worth looking at at something like SMTC short term $ fund, was getting 5%+ for my $s.

The reaction now reminds me off numerous interviews done with people playing the lottery with money they can afford. They say if I give up now I will have wasted all the money I have spent on tickets.

This is an understandable human reaction (for CPI shareholders) and by the way I count myself amongst these people (CPI not lottery).

Unless there is a very substantial improvements in the accounts I will not be adding, my last smallish buy after the bad August report thinking things it could not go any lower, how wrong I was.

One thing to remember is that reducing of interest rates will not help CPI much as they took out over £100m notes at around 10+% so they are stuck paying this interest.

However feeling a little more confident now AH is making all the right noises and JL is heading for the door. I think it depends a lot on how the staff handle the cuts, if they have any sense they will know it is the end of the road and there is no choice.

" I take the opportunity to insist on some compo, which helps focus their minds a bit ! These brokers never like a complaint to the Regulator as it costs them more in admin if nothing else !!"

Also they want to avoid complaints to the Financial Ombudsman as each complaint cost £750 to the institution win or lose, in addition when investigating a complaint they have to spend a lot of time to make sure they have followed the correct procedure in case it is referred to the FO.

In II it is not in the current balance yet but it is in pending, not exactly sure what this means, however I can use this to buy shares but I guess it can't be withdrawn (not tried as in SIPP) until in current balance.

Https://www.londonstockexchange.com/news-article/ASLI/sale-of-french-asset/16398133

The €17.5 million disposal price is in line with the 31 December 2023 valuation.

Looks like a good move.

Https://www.reuters.com/world/europe/glencores-ex-head-oil-loses-uk-legal-fight-over-tax-2024-03-26/

HMRC have have won their case so it is ordinary dividend for tax so 8.75% for basic rate taxpayers.

Shorts at 5.18%, up 3.18 in the last month.

Now we have a company with a falling SP both in UK and NY, lost most of the dividends so not much comfort there.

At this rate it won't be long until the dividend yield is up too high for Rusty so he can cut the dividend again and give himself more shares for his great performance. He may even get us to the No 1 company but only in the shorters list.

As far as BBs go, what BBs,

The dividend was cut because of Rustys hubris, he is desperate to be in charge of a bigger company and DEC was no longer able to grow by raising money on the market or more borrowing. All it took was broken promise to shareholders, not hard for Rusty and of course he would not lose out as he just gave himself more shares.

"They can't control the SP manipulation by the shorters."

But did not have to play into their hands by trashing the dividends, the main reason why most people invested in DEC.