Medusa Share Discussion Threads

[polaris] 16/4/2021 12:38

good news on the contract agreement. If they keep it on track and budget then you are looking at $4.5 M per Q in cap-ex. Given that MML are churning out $10 M+ per Q in free cash-flow and have a cash pile of $80 M, i think this development will be much less disruptive than the shaft upgrades of the past. Once complete, the decline access will be another option to increase haulage to the processing plant.

Next up - Qly results. Probably sometime next week.

[c9ajl] 16/4/2021 07:03

Co-O Gold Mine Decline Project Approvedhttps://www.medusamining.com.au/wp-content/uploads/2021/04/210416_co-ominetigerwaydeclineprojectaprroved.pdf

[polaris] 15/4/2021 08:37

One negative that is in the annual update. In effect, the reserves are lower than previous years by some measure because they have changed the cutoff of grade that is economical by assuming a long term gold price of $1750. On the flip-side, delays to accessing the new drilling chamber to firm up new reserves, due to Covid, will have played its part. I will be looking to drilling reports through the year to see whether MML can 'catch-up'. There are no doubts that the gold is there but market will want to see the ozs classified.

Added my last tranche this morning, as i woke up with about 45 minutes of the Aussie session remaining. I'm fully loaded now.

[deka1] 14/4/2021 17:53

Thanks once again for your thoughts once again polaris.

[polaris] 14/4/2021 15:25

Middle of the road update from MML on resource/reserves. Just keep replacing what you are mining...close to 1 M oz mined in total to date. The GHV and Royal Crowne veins will keep things going for years on their own, never mind anything else that they discover. The jackpot would be if they find thicker intercepts below level 16. They now have the drilling chamber at level 12 in place and active too. There's also a fair bit of gold in the tailings now. Wonder what / if there are plans for recovery?

[johnhemming] 14/4/2021 07:21

Looks fair to me. They don't seem to reveal NPV, but as that would be going down gradually perhaps that is the reasoning. They are calculating one.

[c9ajl] 14/4/2021 06:32

ANNUAL MINERAL RESOURCES AND ORE RESERVES UPDATE STATEMENThttps://www.medusamining.com.au/wp-content/uploads/2021/04/210413_annualmineralresourcesandorereservesupdatestatement.pdf

[geckotheglorious] 13/4/2021 11:28

CP42
I'm going to move once I've had time to whittle down some of the International holdings, and some trash....Will just transfer to IG. ISA and Trading

Detest being screwed, and I've been screwed on not just WHT but also FX.

[cp42kx07] 13/4/2021 10:55

It looks like it... 1.8489 rather than (the better) 1.8171 via IG. At ii rates I would have received c. GBP 130 less due to the FX rate alone. It does make one think!

[geckotheglorious] 13/4/2021 10:37

CP42
Probably got screwed on the FX rate used to FX'd to GBP as well.

[c9ajl] 13/4/2021 09:35

I'm awaiting a response from ii. Let's see if they match :o(

[geckotheglorious] 13/4/2021 09:10

CP42

Yes I am holding them in an ISA.

I wont be staying with II much longer.

[cp42kx07] 13/4/2021 07:41

Ouch! I hope that you're not holding the shares in an ISA. If not at least you may be able to reclaim some of the tax eventually. Perhaps time to consider moving your overseas shares to IG (or other)?

[geckotheglorious] 08/4/2021 17:14

Yes I've noticed getting screwed on the FX rate...
Am seriously thinking about moving...I have a small IG account so might make transfers easier.

[cp42kx07] 08/4/2021 16:38

A combination of the dubious 30% withholding tax and a worse FX rate. Although their user interface leaves much to be desired for simple share trading, I do find IG's FX rates to be very competitive. IIRC they use mid price +/- 0.50% which in this case equated to c. 1.817 AUD/GBP.

[geckotheglorious] 08/4/2021 16:10

I have checked my Divi payment at II and received 1.8930p/sh which is quite a bit different from CP42K's 2.3389p/sh.

I hold in an ISA.

[polaris] 08/4/2021 15:38

@CP - yes, that is my assumption as well. The SB positions got the full un-taxed dividend...SBs are tax free after all. Good when making money but terrible when losing as no loss offset!

[cp42kx07] 08/4/2021 14:22

Hi polarisCorrect, the shares are not SB but are held nominee in an IG ISA account, hence the deduction.I imagine the company withholds the tax rate appropriate to the location of the broker's nominee company but I still can't see why ii would use a non-UK vehicle for this purpose.CP

[polaris] 08/4/2021 13:26

@CP42Kx07 - I assume the IG holding is either CFD or shares account? IG are international and may well know the area better than some other brokers.

It may be that the standard route is to apply the 30 % rate and then expect the holder to claim back the 15 % via their personal tax return. One person mentioned a higher effective tax rate, where it seems the 15 % was withheld and then the broker took another 30 % on top, which would add up to a little over 40 % depending on exchange rate applied. Holding shares in non-UK listed companies is a minefield.

[blummers] 08/4/2021 13:22

I have also received today the dividend into my cash account subject to a 30% reduction. I have sent them a secure message enquiring as to the precise reasons for this level of tax deduction. Will update when I get reply.

[c9ajl] 08/4/2021 13:11

I asked ii and they guy I spoke with put me on hold to speak with the team that deal with these payments. All he could report back was that this is the charge for holding no uk stock and it was correct.It sounds like another phone call is required.Has anyone else had this conversation with ii?

[cp42kx07] 08/4/2021 12:33

p.s. 30% is the withholding tax for dividends paid from Australian companies to residents in non-treaty countries. The UK has a tax treaty with Australia that limits the rate to a maximum 15%.

[cp42kx07] 08/4/2021 12:17

I'm baffled as to why there are 30% deductions being reported. As I mentioned a few posts ago, IG credited my ISA share account with c. 2.3389p (4.25c converted). Has anyone asked ii why they are applying the higher rate?