Warwick Lloyd – Money

There’s No Easy Money!

Gossip: “Casual reports about other people, involving details that are not confirmed as being true”.

In my retirement years, I find I’m tuning into financial information left, right and centre and checking my super balance almost daily. I’ve never been much of a punter, either at the races or the stock exchange.

Being risk averse maybe doesn’t provide the highs of a big win yet it also means I don’t endure the lows of losing those hard-earned dollars. Jumping up and down hugging perfect strangers across a crowded room and being a Melbourne Cup winning owner packing a suitcase full of cash does have some appeal – just once to know what it’s like.

However, a prime example of my conservative approach was earlier this year; a charming barrister gave me a tip on a company listed on the stock exchange which was as close to a sure thing as one could get. The company, Allgate, listed as ACN on the market. I mention his occupation as it gave credibility to his tip as opposed to advice coming from a local barista.

Allgate’s story is interesting – an Australian gold mining company whose mining leases were confiscated by the Thai Govt in 2011 preventing them from mining in Thailand. That’s 10 years of no income. Yet a year or so ago Allgate challenged this action in the World Court and the matter was finally settled in favour of the miner.

In the lead up to this decision there was much speculation with savvy investors buying in. It appears the King of Thailand wanted the gold for himself not some Australian company, and the World court supported the Aussie miner.

The actual date of handing back the mines has been set, yet it means rivers of gold will flow. The temptation to buy shares was attractive and I sought the counsel of my sister. Big Sis being the one to turn to for advice and didn’t miss the mark this time. “Only buy what you could afford to lose” were her words which still echo in my ear.

So, I bought 1200 or so shares at 98c and then again later a further 2,200 at 1.70 ish. Yesterday on the eve of an announcement the share price moved to 1.99. Then today an announcement Allgate could resume mining within a month. The news couldn’t be much better.

However, the fickle stock market didn’t see it that way and the shares fell to a 1.69 – go figure. The share price is now bobbing around 1.42 per share. Proof there’s no sure thing in gambling and one needs to be careful in listening to financial gossip no matter who it’s coming from.

I felt crushed.

p.s. My mate says some hedge fund is artificially keeping the share price low so they can buy more of them. Pays to be in the know, yet really is what we know really in the know? I really didn’t have the faintest idea.

How to Enrol

On-line: after bookings have opened

On-line enrolments are preferred as this significantly reduces the amount of back-office work for our volunteers.

  • Login to the U3APP.org.au website.
  • Go to the Courses & Enrolling page.
  • Scroll down to find the course that you are interested in.
  • Does the course have spaces available?
    • Click on the course name to go to the booking page.
    • Click on “Book for this course or event”.
    • You will receive a confirmation email.  Please check your Junk/Spam folders as these automatically-generated emails often finish up there.
  • OR is the course shown as FULL?
    • Click on WAITLIST.

Paper Enrolment Form: before bookings open for First Semester

  • Obtain a paper Enrolment Form either from the Office or by printing an online copy available here.
  • Complete the paper Enrolment Form and submit it to the Office.

The start date for acceptance of paper Enrolment Forms for first semester is published on the U3APP website and in the e-Bulletin. Enrolment Forms received before this date are treated as though they had been received on the start date (ie there is no advantage to be gained by submitting early). On the start date and thereafter, paper Enrolment Forms are numbered in order of receipt.  Paper Enrolment forms are processed by U3APP volunteers on the same day as on-line bookings.

If your enrolment is successful, you will receive a confirmation email.  Please check your Junk/Spam folders as these automatically-generated emails often finish up there.

If your enrolment is unsuccessful,  you will receive an email telling you that you have been waitlisted.

Via the Office: after bookings have opened

  • Contact the office in person, or by email or phone.