imutual.co.uk

Just wanted to give everyone advance notice that I'll be stepping down as club treasurer. Happy to help with a handover to someone else by staying on until April.

I can no longer justify the time involved in the treasurer's responsibilities. My original hope was that this club could build a significant membership and help attract new people to imutual in the process. In reality, the club has only ever comprised of people who were already active imutual members and we have had no new recruits for several years now.

It's disappointing given the huge amount of time I've spent developing the necessary tech and processes, but at some point you have to cut your losses.

It's worth noting that, with the takeover of Share.com, our investment account charges will increase from £2/month to £10/month. This is largely offset by the offer of one free trade a month BUT only if the club is in a position to take advantage of that.

I still think that there's a strong interest and potential in share tipping and trading amongst current and potential imutual members, but the regulations around investment clubs are a bit cumbersome. I'm thinking that perhaps a virtual trading league might be a better way to go.

A big thanks to our chair for all the time and energy he has put in, not to mention the invaluable suggestion of Pure Gold Mining! The fact that current members have (to date) made a profit in such extreme circumstances is a credit to the club and him personally

As a member of imutual but not this section I would prefer to have Richard spending his spare time on imutual. But hope the club continues successfully

It sounds like a largely thankless endeavour. Well done Richard.

Sarah wrote: ↑

Sat Dec 05 2020 9:41am

It sounds like a largely thankless endeavour. Well done Richard.

I am happy to say thanks and appreciate all that you and the chair have done to get the club to this point and in my view a success.

I just wanted to add a couple of thoughts following on from the failed Ramsdens investment thread and Richard's post about "Club future".

Firstly, the next 4/5 months prospects:

- q4 2020 Pure Gold Mining first pour
- q1 2021 Pure Gold Mining drill holes update
- q1 2021 Growing impact of Covid-19 vaccine rollout nationwide
- BREXIT transition fallout

All the above *should* have significant impact on all three of our company holdings, with the latter pretty irrelevant to PGM and probably less so to Ramsdens.

Secondly, what could this mean?

Well all being good I am hoping the value of our holdings will grow considerably. This might be fanciful thinking of course but looking at the current prices and the impact all three of those above points could have I am thinking it is not that far fetched an idea. I'm talking about Bakkavor recovering to >100p, Ramsdens surpasing our original purchase price and Pure Gold rising on the back of solid results from going into production and greater potential building through confidence building drillhole mapping. If all these go favourably then we could see quite an impact.

What if it does?

It would obviously be incredibly great news. That aside, it would allow us to consider our options for the club. This would mean who wants out, who wants to commit to stay, what needs to be sold to cover exiting member unit payments, relooking at the rules and constitution, consider club roles, assessing what a future strategy should be and once the club's finances are clear how to implement it. This should mean thinking about how everything works now and how we would like it to be. This is of course if we still think having the club is worthwhile in the first place with however many members would be left.

What now?

I would personally much prefer all current members to stay members until end June 2021, greatly so in the case of the bigger holding members. That gives us the first half of 2021 to see what happens to our shares in the fallout from Covid and the end of the transition period. We should then be in a position to have discussions and make decisions. I do think it would be awefully unfortunate to shoot ourselves in the leg by having to sell any of our current holdings, unless the timing is right, so anyone can leave before then.

That's all I can commit to having as input for the moment, until the new year, but I think it would be really good to start discussing things now so please do get involved by posting your thoughts, wishes, ideas and so forth

I have no plans to leave. We just starting to really make real progress both in terms of systems and returns

I'm in for the long haul.

I have a comparatively small holding but am happy to stay in for the long haul.