Member Info for WelshFalcon

Do you remember those 'love is....' cartoons?

Er.....
Not intending to die next week!
No taxes due next week!
Looks like just The Scally update for me, then.

Ignore last superfluous line (slapped wrist)

It's tricky, I'm trying to work out what risk factor they should use! The only one I can see is their risk of getting the numbers wrong, or way out of kilter vs the MRE to come. Is they go for a .25 say (rather than the .5 they did have). Then we have a better defined existing HGZ plus closing the oval on this. 28p +20%, say = 33.6.
Now add the Breccia (not included before), +35% = 45.36
less a .25 risk factor = 34.02.

So i would say 35p, myself - but I feel this is still low.

28 plus 50% = 42. less a .25 risk factor

Mickey, I hate to do this, but you may well be low balling this.......

OMG out ramping Mickey!

Seriously, their 17.8 came from a fully derisked 28p I recall. With the mining lease now firmly in place, a major risk factor has gone - we can actually dig the stuff out! So I would expect a biggish change (reduction) in the risk factor they use before they add in for extra lovely yellow stuff.

I think, respectfully, grovel, grovel, etc.

@SW16 thanks. Have just sent them a message.

It looks like I'll have to move from them if they don't! I would like to punt a few nearology stocks around Hav. but HL don't deal on ASX. I was looking for a way of doing this without moving as I have no problems with HL so far.

If this was flexible, I could withdraw some to open and fill a separate ISA elsewhere (with someone who does deal in ASX). This would use up my ISA allowance. Having learnt this trick, I should also be able to 'replace' the funds in my existing ISA as dividends come in. I can invest in the new ISA now, ahead of income dribbling in. Nice.

@Merc. I stand corrected!

Just checked HMRC website https://www.gov.uk/individual-savings-accounts/withdrawing-your-money

It seems if you have a 'flexible' ISA, you can put it back. If not a flexible ISA you can't. You need to check with your provider to see what you have. I'm off to ask HL what mine is, now!

Thanks, you learn something new every day.

Yup all tax free. You can put in £20,000 each year. Whatever you take out is all yours.

Be careful, though. Some people get confused. Take out as much as you like, but you can't put back what you take out! I.e. if you take out £30,000 in, say, May to buy a nice new shinny car, that's fine. Later, say, in October you get a nice £50,000 bonus, you can only put into your ISA the annual allowance of £20,000. You can't say "I'm only replacing the £30,000 I took out earlier this tax year and then putting in my full allowance." £20k in only per year. Whatever you want out.

Stick with it Org. All the wold seem to be on here, eye opener for me too. A February starter!
I look for those who can add value to a discussion and ignore the rest. Amazed at how many there are with an axe to grind, and grind it they do! It has opened eyes, and now my first check in researching a company is to look at the directors, both exec and non exec. Anyone can set up a company even the numpties, some of the numpties on here would kill any investment in an instant!

It' s what all the pot bellied truckers and sunglasses wearing salesmen listen to while on the road all day......

Chief scientist WHO. Need lots of questions re SNG.

https://twitter.com/bbc5live/status/1304315108613591041

Wow.

Back in January I had a reasonable £260k pension fund. Relaxed.

Then Covid hit along with the crash, I lost 45% of that an early retirement plans were scrapped . Not relaxed.

Transferred all my pension pots to a single SIPP and took control. Steep learning curve and very nervous.
Made some mistakes, but have made fewer that I expected. Found GGP at 4p, small punt. Learnt more and became a fan, picking up more in the dips. Found it hard to sell any!

Today my total pot has grown to over £410, but the real milestone today is that GGP alone now equals my pension pot at the beginning of this year. Well relaxed. Early retirement back on track to start next tax year. One year late, but better income for life. What a result.......

@Everyone.

It's only fund value when you reach age 75.
Until then it is on the total amount you have drawn. I.e. if you drawdown in year 1 an income of £50,000 you have used up only £50,000 of your lifetime allowance (as a percentage of the allowance in that year). Each drawdown in each year will increase the percentage of allowance used. Only when you have gone over 100% of the allowance will you pay the extra tax.

Your fund will still be able to grow and receive dividends tax free within your SIPP. So don't panic, it's not as bad as everyone thinks. Don't forget that on death before 75 the whole fund will go to whoever you nominate to inherit. So the crunch time is at 75, long enough for lots to have happened and not that expensive overall. Rules may change, the allowance may grow more/be abolished - who knows......

Don't sell, delay delay delay and keep sending your MP those letters saying this is so unfair and the lifetime allowance should be scrapped. Get your friends to do the same.....

Its a risk/reward equation as ever.

For me, I'm trying (and hopefully succeeding) to repair/bolster my pension pot. It now looks like I will have enough for a comfortable retirement next tax year, assuming GGP ticks up a few more pence!

So, post GGP for me has to be very sensible, low risk and income producing.

I will see what GH does with GGP. Hopefully we retain our share of Hav and use the resultant mining income to fund further exploration as well as a dividend. Until that works through, we may need to raise a bit of capital plus the 5% fair value to keep exploration on track. In this case I will keep a reasonable holding as we will then fit my investment profile.

For the rest, I will go with mainly FTSE stocks, nice and sensible. I will focus more on renewables and keep away from oil - just a personal preference, planet saving and all that. Until Covid works through and we get a better idea of how commerce will deal with the fall out, any property/commercial property stocks are out. Likewise airlines, travel and hotels. Other than that a broad spread of nice safe holdings and review every three years. Drawdown a nice income from the dividend income....

You younger guys have the time to take higher risk and chase even bigger dreams, nothing wrong with that, Go for it and have fun doing it.

Yeah. Right!

You mean a rambling sudo political rally.

One extra, keep up to date with all things tax. This will be your best ever investment.

I will be taking more drawdown than I need, while keeping within a reasonable overall tax take (bear in mind the 25% tax free element). The extra will go into my ISA. The aim is to pay the tax only once, when it is in the ISA all gains and divis are tax free. This way I can gently move my income from taxed to non taxed. Getting a 20% gain year on year with such little effort does make me happy.

All down to your own personal circumstances.

Work out what income you need (you may have a big house and large outgoing, or not....)
Subtract any state pension you will be getting (some don't qualify for the full amount)
Gross up for expected tax, allowing for your personal allowance etc....
Subtract any other earnings you may have (part time work, holiday let cottage maybe?)
You now have the amount of annual drawdown you will need to take from a pension fund.

You can use whatever percentage you want, but you may need to allow for inflation increases etc. I use 3% and aim to invest with around 4.5% dividends overall.
Gross up by this percentage and you have the gross pension fund you need.

Don't forget that they should also look at their risk factor. With the mining lease granted. We/NCM can now dig out the good stuff. This is one big risk gone! Where were they before 28p on fully derisked basis?

Nice.

I keep popping in, checking the screen and shouting.........

All together now.....

" I do not believe it!"