Anglo Asian Mining Share Discussion Threads

[pogue] 20/4/2020 15:29

kickingking
yes that's how I understood it, to me its better than having it in the house as I can sell fast and easy. I don't understand the advantage of physically having it unless we goto a beans and shotgun cartridges scenario.

[pogue] 20/4/2020 15:25

Supply is falling, fast in some places like shale fields, but when the oil price rises the supply will comeback which will push the price down again. Some will off course be bankrupted but the banks will still want it to produce. Some older wells will never comeback on line stripper wells etc. I am not convinced all those signing up to the OPEC++ cut will abide by the rules whilst the price starts rising either.

[kickingking] 20/4/2020 15:24

The simple answer is you buy silver at b/v so you don't pay vat or 50% above spot. All silver is accounted for so they only sell what is in vaults around the world. When you accumalate 30kg of silver, then you can have a bar put aside in your name. It all clearly stated on their website. It is by far the best way to buy silver in the UK. If you have less then 30kg of silver, then you would own a percentage of a 30kg bar. I have silver there for years. Hope this puts your mind at ease. When you want sell you put up on the live board how much you want to sell and at what price. B/v charges about $8 per month for storage.

[brasso3] 20/4/2020 15:09

I cannot see demand getting back to 95m in 2020.

I cannot see supply getting down to meet demand for 3 - 6 months.

What will give first?

[bumpa33] 20/4/2020 14:55

WTI June contract is currently in line with spot price, May contract expires today, or tomorrow I think. V short term supply/demand - storage! - issue?

[brasso3] 20/4/2020 14:47

Pogue

BV do have the metal but its not allocated to the individual for silver fro memory. This is quite normal for silver.

[riggerbeautz] 20/4/2020 14:42

Pogue they do have cover from memory but I think it’s still hard to exchange, I’m going back a good few years but I looked into them and James Turks Gold Momey, similar story. In the end I thought what IF.... you know you need it and the net goes down, you want quick delivery etc, so opted out.

[pogue] 20/4/2020 14:37

11%
I did think of buying coins, I remember someone mentioning smurkle doing it with no VAT but thought about the hassle selling at future point.

[11_percent] 20/4/2020 14:31

pogue,

I would be wary of buying silver, and having it stored....when you come to want it, it
may not be there.

Silver-to-go, do not charge VAT. The coins come from Germany and take a few days (in normal times).


======


There is also, Mad-4-silver, which does not charge VAT.
Its run by "snurkle" who posts on the "Silver" bill board.

Prices are slightly dearer than Silver-to-go, but are UK based and postage is free, if over £200 order. If you pay, BACS, there is another discount.
Not open at the moment, but usually you can buy on line at weekends and they post out on the Monday.

[pogue] 20/4/2020 14:29

RB
yes still charge storage large delivery fees and trading costs. I did not realize they didn't have the metal to cover the owners.

[11_percent] 20/4/2020 14:22

WTI....have never seen anything like this.

Have a 3 x short ETF - 3OIS......now up 50%.

Its for spot.....and can see WTI going lower, given the futures.

[riggerbeautz] 20/4/2020 14:22

If you want to trade paper gold or silver fine, but I can do that by LSIL for instance or any other leveraged product. Do they still use Bill Pay method? A friend of mine in Canada had trouble with his bank clearing funds (I’m going back maybe 10 years).

Just don’t have any illusions about getting delivery, unless you want large bars with exorbitant fees. Think like ETF’s they also charge a small storage fee too, maybe changed?

[pogue] 20/4/2020 14:11

RB
why out of interest I transferred cash yesterday am about to start buying.

[pogue] 20/4/2020 14:10

Following on from Brasso's post and adding in the fact some main shale fields are now talking about having to pay to have oil taken away, its been happening already on some outlying fields, so how about free barrel of crude oil with every 6 pack of coke bought, bring your own container. Got to be a winner lol.
I am not touching oil co.s until I see how bad this recession is going to be, I don't see demand going up anywhere near where it was even was before the crash and there was too much oil even then. Big companies are falling now mainly high street retailers but the airlines are tottering, Branson begging for a handout, so are next by the look of it and how many small businesses are going down without the headlines ,add in all the oil workers and you get lots of unemployed people, less money, less demand for goods and services...add in social distancing which I think is going to continue for a while in some areas so sports and large events are not going to be happening. Not seeing a bright future right now.

[riggerbeautz] 20/4/2020 13:57

Pogue I closed a BV account many moons ago lol.

[pogue] 20/4/2020 13:55

RB
I opened a Bullion Vault account yesterday and am looking at buying the silver direct. There is no VAT on the purchase, unless you want the silver delivered. Getting tired of miners they are not the proxy I expected.

[riggerbeautz] 20/4/2020 13:33

Bumpa I’ve never been to Murcia let alone Ikea but those pics are either overblown fakes or don’t represent true poverty as MJ alludes to. Sorry but you’re not in true poverty owning some of those beasts in my book.

B.t.w still looking for a solid silver play, it won’t be Mexican based after being stopped out on IPT.

Brasso quite impressed with FDBK sensible and steady.

[bumpa33] 20/4/2020 13:27

Yep, of course - silly me..!

[11_percent] 20/4/2020 13:11

I hate to think what’s happening to all that ‘high yield’ in the US oil industry...

The FED bought it...lol.

[the stigologist] 20/4/2020 13:08

DDDD

US investors will get to their desks soon and say why is a effective Phase II Asthma/Covid19 treatment only valued at $100m

This could easily be valued at $1000m

i.e. 10x the current price

Oh and did you know US bios (Bios not even Pharmas !) have $180bn cash on their balance sheets ?

[polaris] 20/4/2020 12:59

I closed 5 k on a SB late last week and got over 2 p improvement on the listed price, so the real spread is definitely less than quoted. I only closed that position as it was part of my 75 % margin holding and no longer value for capital employed. I spread that margin out into some CEY and HUM. I may close a few more AAZ positions this week, as I have quite a few at 75 % margin.

[bumpa33] 20/4/2020 12:57

I hate to think what’s happening to all that ‘high yield’ in the US oil industry...

[bumpa33] 20/4/2020 12:55

We’re seeing the fissures open up in this market now/soon. Comforting to know the whole thing is being held together by the Fed. Or not, as the case may be.

[bumpa33] 20/4/2020 12:53

Everyone picking up on the fall today, unsurprisingly. Maybe see if I can buy a few contracts and store it out in the campo... !

[brasso3] 20/4/2020 12:51

The is so much oil around they will soon be giving fuel away as there is nowhere to store it. A barrel of heavy oil in Canada is cheaper than a 12 pack of 330ml Coca Cola now!

I would not rule out single figures for oil as the bottom.