So having been happily invested here for a couple of years now I've only just realised I seem to have been suffering Canadian withholding tax on my dividends at 25% - d'oh! I think if I fill out an NR301 form I can get that reduced to 15% going forwards.
My point in posting (other than to advertise my own stupidity of course) is to point out that as a UK investor, the juicy 8% yield at today's price based on CAD0.06 pa dividends is actually more like 6.8% yield after 15% withholding tax, which when compared with BHP Billiton's current 6.7% yield doesn't seem to factor in much of the increased reward expected for a small cap / Zimbabwe miner. Which makes this company much less attractive for a UK investor than for a Canadian investor.
(Not to sniff at a 6.8% yield mind you, I'd still rather have that than deposit account rates.)
I'm still invested in CMCL - love the dividend yield - but wondering if there's something other than the price of gold hammering the share price. Seems like CMCL is getting hit much harder than other producers, when I would have expected it to be hit less given it's a low cost producer so a bit more insulated than most.
African Barrick Sees Potential for Big Gold Deal in 2015
By Thomas Biesheuvel - Oct 23, 2014
African Barrick Gold Plc (ABG) said it sees the potential for a company-changing acquisition next year after turning around its struggling mines in Tanzania.
Next year we will start to look around, Chief Executive Officer Brad Gordon said today. When and if we do a deal it will be a transformational deal, and it will be in Africa.
When African Barrick listed in London in 2010, the company said it was keen to add new gold mines. Instead it was dogged by operational setbacks, rising costs and falling output after it was spun off from Toronto-based Barrick Gold Corp.
Gordon is seeking to expand production and cut costs at the companys mines in Tanzania to turn around the business. He was appointed CEO in August 2013 after a 73 percent slump in the stock price under his predecessor. The company today raised its full-year gold production target for the second time this year and reported a fall in costs for the eighth straight quarter.
The company is looking to buy gold mines in Africa that would raise its annual production to about 1 million ounces, Gordon said. The company is on target to exceed 700,000 ounces this year.
When I joined the company I said there would be no M&A for 12 to 18 months until we fixed the business, Gordon said in the interview. Obviously the business is nearly fixed so well start to think about M&A.
Barrick Gold owns 64 percent of African Barrick after cutting its stake earlier this year. There has been uncertainty about its future control of the company after it held talks with China National Gold Group Corp. in 2012 over selling its majority stake, with discussions ending in January of last year without an agreement.
Barrick is a very supportive major shareholder and very happy with where the company is going, Gordon said. Barrick is very aware that M&A is on the agenda for us some time next year.
African Barrick today reported third-quarter profit of $28.4 million compared with $17.8 million a year earlier. The company, which produced 190,986 ounces of gold in the three-month period said full-year output would exceed its earlier forecast of 700,000 ounces.
The shares gained 2.8 percent to 200.4 pence at 12:09 p.m. in London trading, paring earlier gains of as much as 4.8 percent. Theyre up 7.9 percent this year.
To contact the reporter on this story: Thomas Biesheuvel in London at [email protected]
To contact the editors responsible for this story: Will Kennedy at [email protected] Alex Devine, Dylan Griffiths
"Â VOLKSWAGEN AG (LS:VOW) , priced in Euros has a fascinating price history. It presents an image more reminiscent of a UK AIM share which has suffered a Pump and Dump and is being restrained from recovery. In the case of VW, we're fairly ..."
...........................IF we allow this bunch of scallywags to manipulate the share price of AIM stocks, then AIM will be finished?
Gotham City, Evil Knievel, Questor, Tom Who ?
AND even small groups of shorters that are taking the sp down on most AIM stocks after taking a short position. THEY are collaborating in unison and ( seemingly ) giving good reasons to say the stock is over valued. Mostly we don't know who they are but they are prevalent ?
>>>But please read this page first.<<<
Campaign to make organized short selling illegal. UPDATE
2.901 VOTES to date and rising as i type !
Derampers and rampers are now joining together in unison to short down stocks to almost rock bottom prices...and the trend is gradually over taking AIM completely?
However, short-selling syndicates are still ACTIVE against all efforts to stop them on many AIM STOCKS but investors are determined to eradicate this vile new culture that often ruins a company's share price depriving thousands of their hard earned and invested savings. IN SOME INSTANCES IT IS THE ONLY MONEY THEY HAVE LEFT !
C'mon lets get this up to 5,000 votes to make an impact. Shorters will argue that their activity is good for investors, enabling them to buy in on the cheap. Trouble is, they are gradually turning investors away from AIM for good and unsuspecting investors are not fully aware of the damage that is done. The sp may be much cheaper but £millions is knocked off the valuations and once bitten investors may never return. The sp may take months to recover?
Considering only those from the financial and investing community would bother to vote, this is a very good response. Other E-petition 'campaigns' can command votes from the whole population.
The Govt web-site e-petitions is going great. Votes are now closing in on 3,000, almost 2,800 extra in just under 3 weeks....investors mean business and wont let pi's condone short selling...no matter what excuse...it's morally wrong?
Why not cast your own vote?
Many argue that there is nothing wrong with 'shorting' and the City needs shorting to derisk their hedge funds? Go tell that to the thousands of investors that watch their life savings go down the drain. The City and its 'band of brothers' will gleefully take any action to profit at YOUR loss. It's about time the small investor got a better deal ?
Momentum is gathering pace and this campaign is moving faster than was ever anticipated, thanks to all you that voted and passed over the link.
The fact that these e-petitions require 100,000 signatures is not so important. THAT figure is required in order to get the GOVERNMENT to take ACTION!
What we are after is for the FCA to act and do something about organized short selling and we believe THEY WILL do so on just a fraction of the votes required. 12,000 votes by August 2014 is possible and that is our TARGET !
With the numbers of votes growing DAILY our campaign could be a useful lever for him to put pressure on the Govt to intervene and either make a ruling themselves or put pressure on the FCA. Either way, bringing AWARENESS to this diabolical practice is the most important issue here?
IF the FCA does nothing at all, we are at least bringing this practice to otherwise unsuspecting investors of the EVIL AMONG US ?
Remember, if you do vote - to check your inbox for a confirmation by e-petition.IF they have emailed you, click the link to then confirm that your e-mail address is genuine an
Important message from the Financial Conduct Authority:
Posting inside information that is not public knowledge, or information that is false or misleading, may constitute market abuse.
This could lead to an unlimited fine and up to seven years in prison.
If you have any information, concerns or queries about market abuse, click here.
The content of the messages posted represents the opinions of the author, and does not represent the opinions of Interactive Investor Trading Limited or its affiliates and has not been approved or issued by Interactive Investor Trading Limited.
You should be aware that the other participants of the above discussion group are strangers to you and may make statements which may be misleading, deceptive or wrong.
Please remember that the value of investments or income from them may go down as well as up and that the past performance of an investment is not a guide to its performance in the future.
The discussion boards on this site are intended to be an information sharing forum and is not intended to address your particular requirements.
Whilst information provided on them can help with your investment research you need to consider carefully whether you should make (or refraining from making) investment or other decisions based on what you see without doing further research on investments you are interested in.
Participating in this forum cannot be a substitute for obtaining advice from an appropriate expert independent adviser who takes into account your circumstances and specific investment needs in selected investments that are appropriate for you.