|Underground Fatality - HTTP://www.medusamining.com.au/wp-content/uploads/170324_undergroundfatality22march2017.pdf
Medusa Mining Limited (“Medusa” or the “Company”), through its Philippines operating company Philsaga Mining Corporation regrets to inform that a fatal accident has occured at its Co-O underground mine on 22nd March 2017.
The incident occurred at the start of dayshift on Level 8, where two contract miners were assigned to extend the timber support in a raise that was approximsately 6 metres above the main track level. The prelimnary investigation indicates that one miner accessed the work area above the level while the second miner was assembling the work tools on the main track drift a few meters away. The second miner heard a loud noise and immediately returned to the work area to find his work partner on the track level unconscious. He was immediately taken to the company hospital and pronouced dead on arrival.
The Mines and Geosciences Bureau have been notified and the mine continues to operate with activites in the incident area stopped while a detailed investigation is on-going.
The company is providing support for the deceased family.|
|Sadly Medusa have just announced a fatality on level 8|
I only hold overseas stocks, hence the cost issue.
The holding charge is only levied on overseas stocks, (which is presumably through a third party Oz broker partner, though I haven't investigated that). I hadn't regarded that as an issue, but MML is one of my larger holdings).
Thanks for the recommendation of JarvisIM, I'll check them out. But at first glance I feel the holding chsrge is very expensive and purely a rip-off, surely it can't cost brokers much just to hold shares in their accounts.
|Hi TF cheers|
|ASX announcement today that new substantial holder Arbiter have added with further purchases and now stand at 6.1%.
Just as well that Ruffer and Arbiter have been buying; heaven knows where share price would be without that buying - more opportunities for the brave/foolhardy, I guess! With a small rise maybe we will (finally!?) see the bottom safely in.... Unless Boyd or Lopez have something new and nasty up their sleeves!|
For your ISA you could do worse than take a look at JarvisIM (AIM quoted: JIM and looking good), these are their charges across the nine overseas markets inc, US, Canada, Oz. Those commissions (sliding scale £25-£55) look reasonable to me - the European ones not. There is also a £3 pm holding charge.
I only have MML held from overseas but their-limit order dealing has been executed well.
I am sure you will tell me if these charges are out of line. The only JIM costs I have judged to be too high are European share dealing, letter to enable Nominee to attend shareholder meeting (£25), and Bed-and-ISA spread.
Cheers, tightfist (recently added, and patiently waiting for better news from L8 shaft!)|
|Thanks all for your quick replies, I will look into those Brokers suggested.
Roguetreader, I received an email yesterday (see below) the list is extremely long and contants several Stock that I currently hold.
TD Direct Investing
Important changes to our North American dealing service
We regularly review our Share Dealing Service so that it remains competitive and reflects changes in the industry. As a result of a recent review, we’re introducing some changes in conjunction with our U.S. custodian, who we’ve appointed for the safekeeping of all U.S. stocks.
We’re confident we can continue to offer you a market-leading service, but as one or more of these changes will affect U.S. stocks you hold with us today we wanted to give you time to consider what these changes mean for you.
Which stocks will be affected by the changes?
Three types of North American traded stocks will be affected by the forthcoming changes and these are:
U.S. low-priced securitiesU.S. over-the-counter (OTC) stocksCanadian incorporated stocks listed on a U.S. market
You can see which of your securities are affected by the changes in Appendix 1. Please remember that securities may be affected by more than one of the changes.
What is changing?
1. U.S. low-priced securities
A new U.S. low-priced securities policy will be introduced on Monday 17 April 2017. Please refer to Appendix 2 for full details.We’ve published a list of all U.S. low-priced securities in our Help Centre and we’ll update this as stocks are added to or removed from the list in the future.You can purchase stocks that meet the definition of a U.S. low-priced security until the close of trading on Thursday 13 April 2017.From Monday 17 April 2017, any stock that meets the definition of a U.S. low-priced security will become tradeable on a sales-only basis.You will be unable to hold stocks with us that meet the definition of a U.S. low-priced security after Friday 15 September 2017 and will need to transfer these to another broker or sell them before this date. Please note that if you have not transferred or sold these stocks by Monday 18 September 2017, we will sell these on your behalf on or after this date.There is no charge to transfer these stocks to another broker and no commission will be applied to sales of these stocks from today onwards.
2. U.S. over-the-counter (OTC) stocks
We will no longer permit purchases in U.S. OTC stocks after Thursday 13 April 2017.You can purchase stocks in the top two tiers of the U.S. OTC market structure up to the close of trading on Thursday 13 April 2017.From Monday 17 April 2017, all U.S. OTC stocks will become tradeable on a sales-only basis.Standard commission applies to all trades in U.S. OTC stocks.
3. Canadian incorporated stocks listed on a U.S. market
The tax paid on income derived from Canadian incorporated stocks listed on a U.S. market will no longer have tax relief applied at source after Monday 27 March 2017. This means that the current rate of taxation of 15% on these securities will increase to full withholding tax of 25%.Read more about your options in relation to these stocks in our Help Centre.Standard commission applies to all trades in Canadian incorporated stocks listed on a U.S. market.
Thank you for investing with us.|
I have a couple of Canadian Stocks on TDD but haven't noticed any announcements re restrictions on holding them, have there been any announcements or have you come across the issue specifically when trying to deal or hold? Cheers
|BlueLynx: IG doesn't offer Canadian securities. Try Interactive Investor, which does US and Canadian (but not Australian, which IG can do). All this is from memory, so do check directly.|
|BL have you looked at Hargreaves Lansdown? They certainly support plenty of TSX/NYSE/NAZ stocks. But not ASX!|
i have no detailed information.
However you could call Walker Cripps on 02031008679 and ask to speak to
Jenny or Jonathan
you will not be speaking to a call centre but experienced people.|
Try IG. I have moved my accounts there from TD following the Interactive Investor announcement. The only downside that is that IG do not offer funds (yet).
|Can anyone one on this good thread recommend a Stock Broker that can hold US / Canandian Equities in an ISA, with reasonable costs. TD Direct are now cancelling a considerable number of US and TSX listed stocks that can be held in their accounts. Any help would be appreciated.
|his paragraph says it all imo.Thanks Chip
Lundin is predicting a continued price climb for the yellow metal.
“Inflationary pressures are rising, and the Fed will not dare get ahead of inflation in its gradual move toward higher rates,” he said. “This guarantees negative real rates for perhaps years to come, and similarly guarantees an extremely bullish environment for gold for some time.”|
|I Think i am reaching the conclusion that the vast majority of expert opinion is simply not reliable.
My simplistic non expert analysis is that Gold rallied because;
A ) There would have been a lot of short covering as the shorters closed their positions.
b) The market does not Believe the feds statements that there will be further increases this year|
|This Gold price confuses the hell out of me. I thought it was basic economics that if interest rates went up then the Gold price fell ? The US raises rates and Gold goes up $20+.|
|Deka regards blk there half yearly report is out. Alot of hot air is beginning to turn to gold . It's a bit like mml when they told us 200 000 per year by 2015 but a safer investment than Medusa was back then. Jury is out still but the report gives enough information for me to stay invested.
Imo of course.|
|Just logged into this site to see how good old MML was going. Some years back, I read an article in the Daily Mail, which tipped Medusa, saying what a well run company it was - yeah right! Bought in quite cheap, and watched the price rise to something like £5.20. Then watched the slide, and got out at around £4.25. However much this disaster dropped, the faithful continued whistling in the dark, saying how undervalued it was, and how "the new mill" was going to transform everything. Some pilloried me for saying it was a complete lemon - the rest is history. My best wishes to any of you who have this jammed up.|
|In response to the comment above. BLK has operations at Wiluna, WA.
It has had 2 capital raisings in quick succession in the past 6 months:
A$25 million last August at $1 and another
A$35 million about a month ago at 68c, massively over subscribed.
This has increased shares in issue, created an overhang and depressed sentiment which would happen in these circumstances to pretty well any/all miners.
BLK is in the early stages of Phase 1 production at 100k oz year which was underpinned by the first cap raising.
The latest is to eliminate debt and for new drilling to define a 1.5 km long super pit grading 2.7 to underpin move to Phase 2 production of 200-250k production by approx end of next year. It has 6.4 million oz of gold resources and this is being increased significantly with every new drilling program. Drilling is currently in progress by 4 rigs, double shifting 24/7 which will increase resources and reserves further.
Mill capacity for 250k oz/year is in place but an extra crushing circuit will be required with costs of approx A$50 million which will likely be funded by borrowing rather than any further issue of shares.
Further it has the prospect of another mine/mill development approx 30km to the south of the present one when Phase 2 development is completed.
Now would be a very good entry point for BLK imo. Massively under valued, safe jurisdiction, low/moderate risk, low costs, a likely take over target in the next 12-18 months by one of the big fish with few mines of 200k+ scale.
This is in complete contrast in every respect to MML of course. Apart from the management issues, it is just one event away from probable 100% loss of capital for share holders. Just one tailings dam collapse during increasingly violent storms/hurricanes in the Phillipines and worldwide, polluting streams with mercury, would mean almost certain closure by this Gina Lopez/Duterte administration.|
|Hi Andy, well mate when this deal with MML is over and I reach break even I will never invest in an Aussie miner again,( the definition of Aussie miners -- A hole in the ground, a fool at the bottom ,and a liar standing at the top) the old adage gets it one.
Better luck to you andy|
|Yeah BLK is well down from when I bought in. There is definitely a fair bit of hot air in that stock..
My fingers are burned right off Deka.😥
It's brutal this game sometimes|
|Yes, those mentioned stocks are a 'mixed bag'.
The first 9 stocks in the table below were 'suggested' on this BB.
The performance since June 2016 and current year are listed.
....... .9m . YTD
NGD.tsx -33% -20%
SMF.tsx -37% -12%
AKG.tsx -37% -24%
BLK.asx -26% 11%
GOR.asx -21% -9%
DCN.asx -36% -9%
MOY.asx 87% 22%
BDR.asx -29% 0%
RMS.asx 25% 10%
Here is MML over the same periods. The issues with L8 have made a big impact!
MML.asx -48% -34%
And here are a few LSE-listed goldies for balance.
HGM.lse 56% 17%
CEY.lse 20% 24%
HOC.lse 29% 9%
PAF.lse -13% 6%
Conclusion: it is still possible to get pretty good results close to home!