Member Info for TimberTrader

Although there is no inheritance tax to pay on most AIM-quoted shares passed to your heirs, as long as they have been held for at least two years, I don't know of any particular listing to show if GGP, like any other AIM share, specifically, benefits from business relief. I suggest that if it's important to you that you contact HMRC and ask them. The same goes for if Greatland lists on the ASX.

$2690 just hit....

Rachel Reeves has sparked a rush on gold as wealthy households race to save their money from a tax raid at this month’s Budget.

The Royal Mint reported sales of gold coins, which are exempt from capital gains tax, rose by 118pc between July and September.

The Chancellor is widely expected to raise billions of pounds in taxes targeting the nation’s wealthiest. This includes increasing capital gains tax (CGT), which will reportedly rise from its level of 20pc on shares and most other assets for higher-rate taxpayers.

More people are seeking to exploit the tax-efficient status of gold coins, the Mint has said. CGT is levied on gold and silver when it is sold but not on bullion coins issued by the Mint. The rush has led to a 20pc surge in the sterling gold price so far this year....

https://www.telegraph.co.uk/money/investing/news/rachel-reeves-sparks-gold-rush-ahead-budget-tax-raid/

,,,Briefly hit $2685.85 just now. A new record, just...

They keep coming! The following new fund companies have been added over the past few days:

BAKER STEEL GLOBAL PRECIOUS METALS FUND - 91,925,000 SHARES

https://www.bakersteelcap.com/

CQS NATURAL RESOURCES FUND - 34,900,272 SHARES

https://ncim.co.uk/cqs-natural-resources-growth-and-income-plc/

GOLDEN PROSPECT PRECIOUS METALS FUND - 29,530,999 SHARES

https://ncim.co.uk/golden-prospect-precious-metals-ltd/

https://www.morningstar.com/stocks/xlon/ggp/ownership

Newmont’s (ASX:NEM) record breaking US$15 billion acquisition opened the floodgates for gold mergers in Australia and especially the bountiful gold fields of WA.

Its sale of the Telfer gold mine and majority Havieron JV stake to London-listed Greatland Gold for US$475 million in cash and shares was among the largest dominos to fall in a waterfall of M&A, with cash cascading down the sectors of the market.

As gold spot prices punch through all-time highs above US$2650/oz, explorers through to global mining majors are shaking hands faster than a rat up a drain pipe.

The Havieron/Telfer sale seems to have implications in the surrounding Paterson Province, where Rio Tinto (ASX:RIO) has since bought out Antipa Minerals’ (ASX:AZY) 32% interest in the 2.8Moz Citadel gold project and reputedly has its 8Moz Winu discovery on the market...

https://stockhead.com.au/resources/an-ma-alarm-is-ready-to-sound-in-the-wa-gold-sector-could-gold-fields-push-the-button/

The POG just hit $2684, just $1 short of the all time record high on the 26th September....

Indeed Tom! I'm more than happy with a steady increase, and not the huge spikes & troughs we've seen for some years now. I really do believe that the usual suspect, de-rampers, on here, and other sites (some are paid, for sure!), who post regularly that we'll see the likes of 4p/5p again, are foolish, in the extreme!

DYOR & GLA!

PS. Good luck to Team Ineos Britannia in the America's Cup! Sorry, i just had to drop that in!

Thanks to Stuart Hinds on X...

https://x.com/hinds_stuart/status/1846409652352770164?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet

https://pbs.twimg.com/media/GZ_DyfQXgAACd_x?format=jpg&name=medium

"The deal transforms Greatland from a developer to a producer overnight, with immediate cash flow from Telfer to derisk the overall story."

Many thanks MF & Hydrogen, very positive!

Up $160 since we bought Telfer/Havieron, and the rest!

Moving up again, currently @ $2660, just $25 short of yet another record price...

I just loved the Paterson 'nearology' comments, as if Mr Day would ever be fooled by some of the operations nearby! "One swallow does not a summer make"!

IMHO, they'll now need to join the queue, since we now hold the cards, 100%!

Https://www.youtube.com/watch?v=SK8DuA2UY_A

Ridiculous spread at the moment as we go into close, but no problem with dummy sell of 2 million, with bid moving up to £0.0032, so looking good for Monday, IMHO!

Agree PortfolioPower! This is well oversold, IMHO, and I've top sliced some GBP earlier this week, and have put some of the funds back in here.

@ Doozer77, I'm afraid I can't answer that because it's Newmont's assumptions, and I've no idea what weighting they put on the oil price, along with all of the other factors. That's why I always state that this is based on assumptions.

If you wat to crunch the numbers, you can find it all here, from the last report:

https://www.newmont.com/investors/news-release/news-details/2024/Newmont-Announces-2023-Mineral-Reserves-for-Integrated-Company-of-136-Million-Gold-Ounces-with-Robust-Copper-Optionality-of-30-Billion-Pounds/default.aspx#:~:text=GOLD%20RESERVE%20SENSITIVITY,percent%20decrease%20in%20gold%20reserves.

As I've posted before, but it's now, clearly, MUCH more relevant to us now with the Telfer ownership, it's interesting how Newmont Mining, with assumptions, correlate a rising gold price with reserve value, with, essentially, reserves increasing by 5% for every $100 increase in the price of gold.

They show this in their annual accounts, as follows:

QUOTE

GOLD RESERVE SENSITIVITY

A $100 increase in gold price would result in an approximate 5 percent increase in gold reserves while a $100 decrease in gold price would result in an approximate 6 percent decrease in gold reserves. These sensitivities assume an oil price of $75 per barrel (WTI), Australian dollar exchange rate of $0.70 and Canadian dollar exchange rate of $0.75. These sensitivities assume all other inputs remain equal, including all cost and capital assumptions, which may also have a material impact on these approximate estimates.

UNQUOTE

On that basis alone, and, yes, I accept it's full of assumptions, the gold price is already up around $150 since we purchased Telfer and the Havieron 70%, so, very roughly that would increase our reserves alone by around 7.5% in just 1 month.

It seems like every week there’s another analyst predicting future bullion prices higher – obviously music to the ears for anyone invested in the shiny stuff.

The latest to change the scoreboard is BMI Commodity Insights, revising its 2024 gold price forecast this week from US$2250/oz to US$2375/oz, expecting prices to trade within the range of US$2500-US$2800/oz in the coming months.

“This marks a departure from the USD1,943/oz average seen in 2023. We are now neutral to bullish towards gold for Q4 2024 – Q1 2025, as prices receive support from the US Fed’s rate cuts and high levels of geopolitical tension,” BMI says.

In the long term, gold looks to remain solid, as the number crunching by BMI forecasts global production to increase from 101.4Moz in 2023 to 131.6Moz by 2033 – accelerating just 0.8% from the average growth of the market over the 2016-2020 period.

It comes after Argonaut upped its gold forecasts between 11-35% over the next five years, predicting a peak of US$3000/oz by 2026. A grab bag of small to mid-sized Australian brokers have now predicted gold to hit the magical mark either in formal research or interviews, including Argonaut, Shaw and Partners and Bell Potter....

...Also,

Over in WA, all eyes are on explorer Antipa Minerals (ASX:AZY) as the Paterson Province continues to be a flurry of M&A rumours and activity recently on the back of Newmont’s (ASX:NEM) divestment of the prolific Telfer gold mine and Havieron project.

The junior is trading up considerably as one of the largest landholders in the gold district (up 4% again today to make it 85% over the past month) and has already banked $17m from palming off its 32% take in the Citadel project to now 100% owner Rio Tinto (ASX:RIO).

It’s also busy building on its now 2.3Moz Minyari gold project which may already be in the shop window after growing the resource by 33% last month...

https://stockhead.com.au/resources/gold-digger-analysts-must-be-busy-as-theyre-re-rating-gold-upwards-every-week/