Member Info for Tornadotony

If he goes all out aggressive and reaches for his declining base than the markets have a problem. If on the other hand lists out the problems and issues and what he is not happy with and says its time to meet up with Xi. If he describes what the carrots look like and that issues of concern are dealt with and be vague on the stick as everybody knows he has many to choose from. So he wants China agrees to review what caused the pandemic as the purpose is to prevent it happening again. That the security law is for HK to pass to satisfy its current status with USA.

Typo corrected

Reason for everything being somewhat depressed this morning according to Bloomberg is China USA relations. Market awaits another Trump announcement. Where Trump is right is that if you take away Hong Kong freedoms to equalise with the rest of China than HK loses its special status as status quo has changed. Both countries are using measures to curb on free speech and having police forces abuse their power over their population. This does not create a promising or efficient future. Hopefully the narrative and use of power may become more constructive and this well help everywhere.

Another Saudi VCLL filled with 2 Million barrels off loaded and going home. It was half empty on 13 May. Marine charts showing its heading towards West Africa. Dalma is moored and Hong Kong Spirit is anchored in the Gulf. I am not sure if smaller tankers are taking some oil off those VCLLs.

Certainly is in play. I am keeping some of my holding no matter as I took some off to hold profits for the year, but have every intention of adding 80% if we get a chart back fill.

Sold out completely from banks as I suspect the rally might be temporary as so many people appear to now be losing their jobs. I would rejoin if I see a gap back fill to 28.2p area. Its just to early for a prolonged run back up to 50p but if the job losses prove temporary or not at all than will be delighted to have it wrong.

http://www.stockchallenge.co.uk/ftse.php

Answer is next month

I hope your right colonel D as previous entry to Shanta at 12p went to 6.75p. I doubled up and left with a profit just under 10p. If it happens again I will quadruple up next time and keep half to 60%. If gold had stayed put Shanta would have been 14p yesterday but such are the joys of the precious metal market. The Kenya asset really makes this a growth stock and hopefully they do not hedge to cover debt in future as they have enough assets to merit reserve bank lending arrangements.

1. Its okay to take children to granny and grandpa providing its at shouting distance.
2. If you feel dodgy its okay to do 60 mile test drives round trip with a child in the back seat.
3. Its okay to drive wherever you want in England, the full length and breadth of it.
4. You can take an instinct point of view on social distancing and everything else.
5. Apparently its bad parenting to follow professional medical advice.

reserve not serve

Previously Singuida was said to have a resource 920,000 at 2.25 g/t earlier 2020 presentations. This morning we heard 243,000 reserves and 904,000 resource ounces with the reserves factoring only 50% recovery. Hedge was not the best but the company, taking out the hedge found 210,000 serve ounces. This increases enterprise value by $20.5M or £16.5M before production and allowing 16,000 reduced resource ounces.

Did this last time and it was profitable. Made the same rentry as before and turned out as a gain on big average down. The only reason for no response is that its a bad day for precious metal miners in general.

Just in case things do not go as expected in June. Nice profit really banked.

Thanks colonel

I will leave in the drawer. God knows what a pound will be worth a year's time with the people we have in charge of the UK.

I can not believe it has not taken off. The RNS was hugely significant it adds 19% market value to the company on its Friday value.

100,000 shares bought 90,000 at 12.24. The RNS adds 2p to the share price. It should close on 14p.

To mysteryguy

The answer is no to your link. This dispute concerns the initial farm down to CNOCC and Total that left Tullow holding 33.33% of the asset. On the farm down Tullow owed around $407M after deducting what they had spent in Uganda before 2014. The sale in 2020 of the remainder can only discount expenditure from say mid 2014 to the end of 2019. At the beginning of 2019 the figure of tax relief in the event of sale was $525M and that was known to Uganda Government and tax authorities. It grew another $50M in 2019. The company is to be reimbursed whatever it has been spent in 2020 by Total as part of the deal. So there is no tax due. The Uganda Government has gained on two occasions on the exploitation of the asset along with taxes and receipts from licence and tax on wages on those employed on the project in the country. Tullow has gained nothing out of the Uganda project and has actually just broke even.

Copied from what I wrote here 9 May
The tax authorities did meet up with Tullow and this corresponds to a time when an MOU was agreed to get the Uganda oil developed and for Tullow to accelerate its Uganda investment further and pay the government more for licences. Any differences between $407M that Tullow offered and what was eventually paid was not that far off from the amount disputed. It was a case of getting things right in case of something like what has happened with the remaining sale to Total. What the accuser is seeking is clearer evidence that the Uganda tax authorities did their job correctly. I am fairly sure audit trails would show the CGT allowances for the recent sale is correct. The article of course ignores all Tullow expenditure from July 2014.The company identified in the failed farm down last year that its tax exemption was around $575M hence why no additional tax is due.
The claim is just ridiculous.

This issue was raised earlier about it going to Court. Tullow has paid all its taxes to the Uganda people years ago and there is no case to answer. The Ugandan government has yet to officially approve the Total purchase off Tullow. I am not sure if civil case has any authority over the Government executive authorities. There was another proper route to pursue regarding any allegations of corruption and that has not been followed.

As of yesterday 28 US States have over 50% recovery and are following good European data by 7 days (UK at 79%). Kentucky and Massachusetts will be the next 2 States to join them in a week or so. 9 States have not reported recoveries. New York at 25% and California 22.8% bring USA down to 30% overall. Overall slow progress.

I suggest looking at JNUG if you want junior exposure. The only real issue with Shanta is the location in Tanzania. If you go to BBC website news under Covid you will see what is happening today in Tanzania. I would avoid putting much into this one for that reason as governance is on par with Mugabe's Zimbabwe era.