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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Galahad Gold. | GLA | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 17.04 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 17.04 |
| Top Posts |
|---|
Posted at 19/6/2009 06:46 by nickcduk IG had screwed up their prices for GLA. They were quoting residual positions in GLA at 1p. That should have been 0p because they already debited that 1p twice previously. Positions have now been amended. I would still go and ask for interest back on the position though. |
Posted at 18/6/2009 19:29 by nickcduk Anyone with a position in GLA via IG Index will likely find their positions being adjusted overnight. They had incorrectly booked the trade and the equivalent of 1p should be returned. I would also ask them to refund any interest charged since the date the error was made. |
Posted at 26/8/2008 12:37 by nickcduk Just trying to catch up on how much and when we might see some more cash. Tried to access the website to have a look at the EGM circular but note that they haven't paid to retain their domain name. Lets hope its not because they have run out of cash!.Any ideas as to what the final payout will be? I have pencilled in 2.37p + 0.48p for a total of 2.85p. Is that what everyone else has pencilled in? Regarding when we might see the balance. I have been in similar situations before when the second payment comes around a year after the initial payout. What makes GLA a bit more confusing is that they have been ready to pay out since November of last year. They delayed the initial payment because of tax issues. Is it better to use a year after payment, i.e. April 2009 or Nov 2008 as a realistic date for further funds to be released. |
Posted at 19/2/2008 08:23 by tiltonboy Not certain that many people will read this thread now, and should probably post it on the JDT thread, but given that GLA had a stake in International Moly, I will mention it here as well.OVG are worth a close look. They already have a world class Silver find, but yesterday announced that they now have a potentially world class Molybdenum find. The shares have done very little on the news, and look significantly undervalued...imho.. As always DYOR. tiltonboy |
Posted at 08/2/2008 18:06 by alanji "Galahad Gold plc announces that the resolution proposed at the Company's EGMheld today, Friday 8 February 2008, was duly passed." Well that's a relief! Yes Galahad has been a good friend. I first bought in May 2002 - sold in Oct 03 for a 34% profit. Back in (and out - at the wrong times most of the time!) from Dec 04. I would have made an overall loss last year had it not been for GLA - it was my most profitable share last year. The only question is what current value do I use for my accounting? Think I will go for 18p per share (just in case) - which puts me into profit for this year!!!!!!!!!!!!!!! good luck to all and see you on our other favourites CED TIR AMN - any more recommendations? Alan |
Posted at 07/2/2008 20:41 by sharpshare tiltonboy, SKYSHIPGoodbye profitable GLA (I wonder who will get the ticker next) Pleased to see your estimates higher than mine. I have the feeling that they have been conservative with the numbers - they would rather surprise on the upside. It seems the directors have been very nice to shareholders and have waived certain fees - very unusual for a listed company as it is often the other way around with directors just too tempted by absolute control and easy pickings. Another successful Jim Slater investment. Now lets hope they stick to the timetable and no nasty liabilities creep out. 16.5p cash back by next Friday. Any other investments I should be looking at? My current personal favourite is PHPT (allowable in SIPPs and ISAs and normal broking accounts) Physical platinum ETF. Why? Because demand is now exceeding new mine supply in a very very thin market + investors are hoarding bars competing with car buyers. PHPT holds about 230,000 ounces up from nothing a year ago which is about 3.5% of world demand just in 1 fund. (90,000 ounces added in last 3 weeks) Oh and the biggest producers in the world in South Africa do not have enough electricity anymore. Just wait until the Americans are allowed their own platinum ETF. Okay the platinum price is at an all time high of USD 1,840 per ounce (still way below inflation adjusted high) and is in a bubble, but I think it could go a lot higher before crashing. Not racy enough? Have a look at Rhodium at USD 7,500 per ounce. |
Posted at 25/1/2008 23:29 by traderabc Barclays have been advising all of the nominee SIPP clients who hold GLA in their SIPP account that they have to sell their GLA shares in the market within the next 2 weeksWhat is the significance of the two weeks,anything? ie do (non barclays)we have to choose one of those options within 2 weeks? Presumabley there will be some selling preassure for the next few weeks,then it might be able to go up some more. If it got to say 20 p would it be better to sell them in the market rather than taking one of the options ? |
Posted at 25/1/2008 16:52 by mjcrockett Barclays have been advising all of the nominee SIPP clients who hold GLA in their SIPP account that they have to sell their GLA shares in the market within the next 2 weeks. This is because Barclays will not hold unlisted stocks in their SIPP accounts - the Galahad A,B or C shares will be unlisted. Perhaps this is where some of the cheaper stock is coming from?MJ |
Posted at 16/1/2008 11:23 by sharpshare Let's try and work out the tax consequences for an ordinary UK resident.If option A is chosen then the shareholder gets A shares and New ordinary shares. The 16.5p div to be received in mid Feb08 should be taxed in this year at dividend rates (ie 1/9 credit and 32.5% tax rate for marginal taxpayers giving effective rate of 25%?)and the A shares will be converted to worthless deferred shares? Will this allow a negligible value claim for CGT purposes to be made at the dividend payment date (in this tax year) for the A shares? Does the base cost of the A shares and new ord shares need to be determined by reference to the market price when the shares are suspended in early Feb? Does this following example seem right? eg if the market price is 17p when suspended in a few weeks time then the base cost of the A shares = 16.5/17p * the cost of your existing ord shares and the base cost of your new ord shares = .5/17 * the cost of your existing ord shares. Will the base cost of the A shares be the capital loss on the dividend payment date? Is the receipt of the capital liquidation payment of around 2.7p (could be more or less or nothing)in about a year a capital disposal for CGT purposes and then another negligible value claim should be made to allow the deduction of the base cost of the New ords? All very taxing. Any informed views? |
Posted at 14/9/2007 13:26 by plain vanilla Very nice, 18p on is way back to shareholders...Galahad Gold plc ("Galahad" or "the Company") Board to seek shareholder approval for a voluntary liquidation of the Company and return of cash to shareholders Proposed adjournment of EGM convened for 19th September 2007 Introduction In the circular to shareholders dated 20 August 2007, Galahad set out a proposed new investment strategy to be considered by shareholders at an EGM to be held on 19 September 2007. The circular also outlined the Board's intention to effect a substantial return of cash to shareholders before the end of the year and to change the name of the Company to Galahad plc. Following further extensive analysis of the issues involved in implementing the proposed strategy, the Board has today concluded that a voluntary liquidation of Galahad is in the best interests of the shareholders. Accordingly, the Board intends to convene an EGM to consider a resolution for the voluntary liquidation of Galahad. It is also proposed that the EGM convened for 19 September 2007 be adjourned. Background to and reasons for the proposals The following factors have led the Board to conclude that the voluntary liquidation of the Company including a return of cash realised from the disposal of the mining investments would be in the best interests of shareholders: * As noted in the Circular dated 20 August 2007, the Board considers the market for mining companies to be considerably more mature than when it made its initial investments in the sector. In the period from June 2003 to 31 August 2007, the annualised rate of return on the Group's investing activities was 69.4% (see Note 1). Given the increase in metal prices since 2003, the Directors believe that investments in the mining sector are unlikely to deliver the attractive returns that Galahad has achieved in the past. * Galahad has been researching other investment opportunities including soft commodities, such as grains, other crops, livestock and dairy products. In the view of the Board, the opportunities in this sector are attractive. However, the Company's investigations into investments in the soft commodities sector and the development of the infrastructure and expertise to enable the Company to invest and manage investments in the sector are at a very early stage. * As currently constituted Galahad is subject to legal, regulatory and taxation regimes that are not conducive to the efficient implementation of the new investment strategy. * It has been Galahad's stated intention for some time to return to shareholders a substantial amount of cash realised from its mining investments. After taking extensive professional advice on the legal, taxation and regulatory implications, there have proved to be insuperable complexities in achieving both a substantial return of cash to shareholders and at the same time the implementation of a new investment strategy. * Over the past year, Galahad shares have traded at a discount to the estimated net asset value of the Company. The Board expects that the disposal of the remaining mining investments and subsequent voluntary liquidation of Galahad will enable the full value of Galahad's shares to be returned to all shareholders. Liquidation process and timetable The Company is intending to reorganise its share capital to allow shareholders to elect to receive the majority of their return as a dividend before the liquidation commences. It is intended that shareholders who do not elect to receive the proposed pre-liquidation dividend will be entitled to receive an equivalent interim distribution in the liquidation. Thereafter, all shareholders will be entitled to participate equally in any subsequent distributions made by the liquidator. Galahad has been advised that distributions made in liquidation should be treated as a return of capital for UK tax purposes. The Board is working with its advisers to draw up a liquidation proposal to put to shareholders at the earliest opportunity. It expects to send a circular outlining the proposal to shareholders in early November. A provisional timetable for the liquidation is set out in the Appendix to this announcement. Galahad will be engaging a firm of liquidation specialists to provide an independent assessment of Galahad's assets and liabilities. These specialists will advise the Company of the amount that will be needed to be retained on a prudent basis during the liquidation process to cover actual and contingent liabilities. This in turn will allow the Directors to settle on the proposed level of the pre-liquidation dividend and provide shareholders with an estimate of the likely level of the equivalent interim return of capital to be made in the liquidation. Once this is determined, Galahad will issue a circular convening two EGMs, to be held approximately one to two weeks apart. The first EGM will seek shareholder approval for the reorganisation of the share capital of Galahad to enable the payment of a pre-liquidation dividend. The second EGM will seek shareholder approval for the appointment of a liquidator, who will settle the Company's liabilities, effect the initial return of capital in liquidation, realise any residual assets of the Company and make any subsequent return of capital to shareholders. The proposal is subject to further detailed review and development with the Company's advisers, including the liquidation specialists, and will necessitate an application to HMRC for tax clearance. Current financial position On 13 September 2007, Galahad had cash and cash equivalents of #164.7 million, and shareholdings in Quadra Mining Limited ("Quadra") and Niger Uranium Ltd (" Niger Uranium"). At the closing middle market price on the TSX on 13 September 2007, the market value of Galahad's 5.5% shareholding in Quadra was approximately #23.9m. At the closing middle market price on AIM on 13 September 2007, the market value of Galahad's 2.9% shareholding in Niger Uranium was approximately #1.4m. Galahad also has contingent rights to additional consideration that could become payable under the contract for the sale of shares in Northern Dynasty Minerals Ltd to QIT-Fer et Titane Inc, an affiliate of Rio Tinto plc. The net asset value of Galahad as at 13 September 2007 is estimated to be approximately 18p per ordinary share on a fully diluted basis (see Note 2). Until the liquidation specialists have assessed the amount that needs to be retained to cover actual and contingent liabilities, it is not possible for the Directors to provide guidance as to the exact amount of the proposed pre-liquidation dividend or amount of distributions to shareholders by the liquidator. |
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