Anglo Asian Mining Share Discussion Threads

[2sporrans] 24/4/2018 01:12

Again, the POG dip is largely reciprocating surge up in US bond yields, climbed past several days but esp. past 24hrs => $US stronger; buys more gold.

See graph:

24 hrs.

Blue line denominated in "KGX" is POG in basket of currencies; red the usual POG in $US.
Note..KGX: "basket of six major foreign currencies: Euro (57.6%), Japanese Yen (13.6%), UK Pound (11.9%), Canadian Dollar (9.1%), Swedish Krona (4.2%) and Swiss Franc (3.6%). It is an exchange traded (FINEX) index and has become a standard used worldwide."

But the opposite gnerally true; $US generally weak; chronic twin deficit economy.
Markedly so mdeium term, hence same graph over 1 year:




If therre really is wage push US inflation brewing , along with consumer [tax cut] driven growth; for how long and far?
Huge household debts are enaabling consumption and the US rates rising fastest on short-med. dated bonds / credit.
Just a 0.5% rise will hurt, proportional big when rates so low.
Consumption will choke off at historically-comparative v. low rates.

+ now the 2 yr Treasury yield is 2.5% v 10 yr 3% [almost], the US yield curve has become close to flat and has been flattening past year.
If it goes flat, pretty sure slowdown coming; already indicated.
To extent inverts, pretty reliable leading indicator for recession in US...which doesn't bode well for moribund Japan/Europe. + China is reining in now.

Probably a good environment for Gold; esp. given another does of ZIRP/QE.

[jeanesy] 23/4/2018 20:30

Cant see why this should drop so much today on the volume published? POG has fallen again though, it really doesn't like touching 1350 atmo it seems !

[sparkey_two] 23/4/2018 19:56

Well done Mattjos, fantastic effort and should allow you to take an income in later years.

[mattjos] 23/4/2018 18:38

This is really well worth 15 minutes reading:https://www.home.saxo/-/media/documents/quarterly-outlook/quarterly-outlook-q2-2018.pdf?rs_campaign=18042018_Quarterly-Outlook_PRIV_C_EN&rs_visitor=61516590_Private_English_1_Q2xpZW50I struggle to disagree with any of their insights here .. bright bunch.Fwiw, ISA'd second tranche today ... that's 2018 ISA allowance now full of AAZ. Have managed to squirrel away well over 500k into my ISA now at an average buy price of under 11p. Hoping to see future years of dividends reduce that to an entirely free-carry. Pity the ISA allowance is only £20k

[celeritas] 23/4/2018 17:10

Lets see who comes in as it could be very positive for country relations and sort out Nagorno Karabakh.

[celeritas] 23/4/2018 17:05

Maybe a new guy in charge will sort out the Nagorno Karabakh region rather than the stale mate.

Another MP, Elman Nasirov, suggested that people were protesting in favor of making concessions on Nagorno Karabakh, the territory controlled by Armenian forces but internationally recognized as part of Azerbaijan. "People in Armenia think that as long as Armenia continues the occupation of Azerbaijani lands, they will not have future and their situation will aggravate," Nasirov told Trend. “This way of thinking is gradually spreading in Armenia and the culprit of this situation is Serzh Sargsyan.”

[2sporrans] 23/4/2018 16:58

Serzh Sargsyan is gone.....but the same parties are in government.

Too soon to say if the departure of SS heralds any committed policy changes.
But there is a fair swell of Armenian opinion that Armenia's best interests would be served by rapprochement with Azerbaijan and better relations with Turkey.

Well, with Turkey and Russia cooperating, along with Iran teaming up with the Russkies...maybe the whole regional game is changing.

[lefrene] 23/4/2018 16:57

catsick, In this case I hope it's the opposite, a fascist leader is being replaced in a popular peaceful way, the State will no longer need to pick fights with a neighbour in order to justify its reason to exist. Unhappily Turkey seems to be going in the opposite direction as Erdogan moves from a democracy to an authoritarian ruler. (the Putin model)

[catsick] 23/4/2018 16:35

I think trouble over the border in Armenia is probably not good at all given the basket cases most of these regime change candidates end up as ...

[lefrene] 23/4/2018 16:22

Yes robo21, a few more than 50k sold by somebody today. If this is a Beaufort effect, then where the heck is AAZ's broker to explain what is happening? How many more of these are looking for a new home?

[lefrene] 23/4/2018 16:20

A bit ironic that AAZ is getting sold on the day that Armenia kicks out their dictator. Hopefully this will lower tensions in the region.

[robo21] 23/4/2018 16:16

I think they have dropped off a few more than that !!!

[lefrene] 23/4/2018 08:45

Someone will be along to drop off 50k shortly!

[jbe81] 23/4/2018 08:07

A few share still available in the auction but looking ready to move up.

[mattjos] 20/4/2018 21:15

You were mugged jeansey. Probably as a consequence of relatively small transaction value

[jeanesy] 20/4/2018 20:41

The last of my bed and isa shares went through today. The spread was 0.52p which seems far too big to me ?!

[lefrene] 20/4/2018 14:49

I see the 50k was posted at 12:25 today, but presumably being worked from earlier in the day. I wonder if these are being accumulated and will appear as a declared holding before too long?

[bumpa33] 20/4/2018 12:37

Cantor and Kbc have a seller into them at 44, they won’t open up to size, unsurprisingly. I don’t think it’s directly to do with Beaufort - I have a guy with a number of Beaufort clients and cash/holdings are still in lockdown there - but it could be indirectly related. Either way, doesn’t really matter - it’s times like these that their useless PR becomes a factor as the liquidity currently isn’t there to take the slack. Slightly frustrating to say the least.

[mattjos] 20/4/2018 11:19

For sure!Liquidators first priority is to determine how much they can fleece from remaining company assets for themselves.Then can they make a second round of fees from selling on the ruins.Creditors & investors always at the back of the queue.Someone like PWC will be billing partners hours for handling the job whilst, in reality, the trainees will be doing the work.That's why they are called 'professionals' ... professional robbers

[lefrene] 20/4/2018 11:13

Seems as per usual the 'little people' get done unto, whilst the big boys do whatever suits their convenience and pocket. We have no way of knowing if they still have a lot of AAZ they intend to sell, or how much client stock will be transferred to another broker. But as it's going to take "many months" it would seem that PWC have got their feet under the table and will work it for all it's worth.

[terropol] 20/4/2018 10:55

There was an article in the times saying they are more like to recover £500m not the £850 first estimated.

I was cought up int the CFD bankruptcy by Mr. CORZINE. Ex Man group and GNI.
They closed my position without giving me a choise, no attempt to transfer my positions.
Some I had for years and one was a suspended company (THAT JUMPED 6 TIMES).
Got money from the Government compensation bond.
It was below the Thresh hold.

I HAVE NOT TOUCHED A CFD SINCE.

[celeritas] 20/4/2018 10:12

catsick, holdings will be moved, not all will be liquidated.


From PWC regarding Beaufort.

Commenting on progress on the administrations of BACSL, Nigel Rackham, joint administrator of BSL and joint special administrator of BACSL, said:

“Since our appointment, the priority has been safeguarding the key client data and critical systems used to run the Firms’ business as well as clients' cash and assets.

“We have now identified and ringfenced £50m in segregated client money accounts alongside freezing close to £850m in client assets.

“In respect of the client assets there are a number of open positions and transactions which need to be resolved and concluded. This may impact the total once a final reconciliation takes place.”

Commenting on the outlook, Nigel Rackham added:

“We do forecast a substantial return to clients after costs, although this may take some time to implement and we do not see any returns commencing before mid-April as there are a number of challenges to overcome.

“These include carrying out an assessment of the accuracy of the Firms' books and records, devising new processes to move the holdings of all clients in an orderly and appropriate way, and preparing cost estimates for these activities.”

This is a very significant and complicated insolvency and in terms of timescales it could take many months to complete the returns to clients. Additionally, the available funds within the Firms' own resources are very limited. Therefore, the costs of returning client money and client assets will in all likelihood be deducted from clients' recoveries.

The joint administrators have conducted a preliminary meeting with the Financial Services Compensation Scheme, focussing on minimising disruption and losses to clients.

*In our 2 March announcement we included the following sentence based on preliminary information. “Customer entitlements include ca. £37m of client money and £664m in client assets.” It is clear given the better information now recovered that entitlements will be closer in magnitude, if not exceeding, the amounts identified above of £50m and £850m.