Pure Gold Mining Share Discussion Threads

[sharestobuy] 12/8/2015 18:36

Do you think this will be up again and rising further tomorrow? Just find it strange how it struggled to pass the 1.60 mark all day

[mrtoad2] 12/8/2015 13:54

Late on this morning ... That's good news in a sea of red! Have to agree with the expectation that the U.S. business would make a good acquisition for someone. 9 years of holding paying off at last

[sharestobuy] 12/8/2015 13:02

What I don't get is the fact that the share price is sat at 1.60 ish and going no further which to me indicates that they value the remaining business at 15p-20p as thats what it takes to get to the current share price adding on the 1.40p-1.45p for the Swansea sale. I hope I'm wrong but that is how it seems!

[dangersimpson2] 12/8/2015 11:59

janeann,

see my post 4201.

Yes, highly likely to be a return of capital which means you get to use your CGT allowance of £11.1k before any tax is due. If you have made more net gains outside of tax wrappers like ISA's and SIPP's than this in the tax year then you will have to pay tax on the gain. But the payout itself should not be subject to any witholding tax etc. since Pure Wafer is incorporated in England & Wales. Therefore only your personal taxation affairs will affect the net payout you will recieve.

[paulturner006] 12/8/2015 11:00

I echo what everyone has said. Great start today, wishing I had added more at 1.2 lol still can't complain on a day of red this shines out. I agree probably still good value as the U.S. Business is worth more than 17-22p- more likely 35 and would easily be a target for a takeover

[janeann] 12/8/2015 10:32

Anyone any views on stegegros question; at post 4197
Will the cash be returned in a tax free manner?

[badtime] 12/8/2015 09:45

Bit late in signing in this morning and only just seem....NICE!
Nothing more to add that hasn't already been said

[puffintickler] 12/8/2015 08:57

I have held on to my holding all through the slough of despond, I had a biggish holding (for me) then did a substantial top up at 70p in May 2014 as PUR was obviously well undervalued. The fire was very disappointing but the fall to 40p was clearly an overreaction and I was expecting my money back.

There was no reason to sell at 125 when the cash payout was "unlikely to be greater than 125p" because the Prescott business should be worth a good 35p.

There is therefore still no reason to sell and every reason to buy at less than 160p as a conservative sum of the parts valuation is now 143+37p = 180p. I think Stegro will not regret his purchase! I'm hoping for 190p and a growing business remaining after the cash return.

This is above the top of my initial hopes so am very pleased indeed.

[dangersimpson2] 12/8/2015 08:55

MM's opening it at 145p offer with 140-145p return was an unexpected bonus.

Given the nature of the return - due to exceptional events, large, one-off, not profits from trading - this will almost certainly be a return of capital not a dividend. Whether that is tax free depends on personal circumstances. i.e. the size of your capital gain and how much of your allowance you've used. Obviously in an ISA or spreadbet all will be tax free.

PS. Stegrego, thanks for the original heads up on twitter when PUR made the original announcement and was still trading at c.£1

[ganthorpe] 12/8/2015 08:54

Agree I think Prescott too small for a stand alone business in Pure . Getting it settled down with extra business and then selling seems to be a sensible option. With top management based in UK with no activity here and the actual operations in USA is too expensive.

[riddlerone] 12/8/2015 08:35

I have a similar figure for the value of Prescott.Will be very interesting to see the balance sheet when all this pans out.You would expect it to be profitable,low debt and a reasonable cash balance.A healthy business ripe to be bought out might i suggest.

[interceptor2] 12/8/2015 08:20

At least someone was awake this morning buying under 150p, I was a little slow off the mark with the price heading over 150p before I was ready to add.

I had a 44p valuation for the Arizona business, so agree that between 170p - 185p would be a fair valuation.

[stegrego] 12/8/2015 08:17

Will the cash be returned in a tax free manner?

[alan@bj] 12/8/2015 08:14

Well thank goodness for the news here today. The rest of my portfolio is in the red due to China's currency devaluation.

[stegrego] 12/8/2015 08:10

Bought back in at 148p as still money to be made here. Existing business is probably worth 30p or so, maybe more so fair value somewhere around 170-180p

[interceptor2] 12/8/2015 07:53

WOW, I think is the correct sentiment to todays news. I wasn't expecting such a high cash pay out.

[cameo4] 12/8/2015 07:49

Great news. Far better then I was expecting.

[zoolook] 12/8/2015 07:22

and ...."the Company's facility in Prescott, Arizona, continues to operate successfully ...with the facility currently running at record levels of productivity and high utilisation this provides confidence in the strength and profitability of this business going forward"

[stegrego] 12/8/2015 07:20

Great news. Unfortunately I sold out at around 125p..... Doh. Well done to those that kept the faith.

[riddlerone] 12/8/2015 07:20

Very pleased,well done to the management.

[papy02] 12/8/2015 07:11

Wow!

Following the resolution of the long term lease and based upon current information, the directors estimate the return of surplus funds resulting from the Swansea insurance settlement announced on 1 May 2015 to be in the region of 140p - 145p per share.

[janeann] 12/8/2015 07:10

wow; 140 + a well performing existing business say 35p = 175 per share

[alan@bj] 12/8/2015 07:07

Excellent news! 20p rise at least today?

[badtime] 30/7/2015 13:55

A few getting out on the rise...personally I am sticking until we get some info