A Warning for Investors From Aussie Pensioners
Welcome to the award-winning Money Distilled newsletter. I'm John Stepek. Every week day I look at the biggest stories in markets and economics, and explain what it all means for your money.
Today I'm going to cover an Australian personal finance topic. Don't tune out. This is relevant to you even if you're located in a marsupial-deficient nation where the insect, reptile and marine life isn't all trying to kill or maim you.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
25 minutes ago
- Yahoo
Firetail secures options to buy two gold projects in US
Australian exploration company Firetail Resources has entered into two separate binding option agreements with Athena Gold and Badlands Resources to acquire two high-grade projects in prolific gold-producing regions in the US. Under the deals, Firetail will acquire 80% of the Excelsior project in Nevada and 100% of the Bella project in South Dakota, US, respectively. The Excelsior Springs project within Nevada's Walker Lane Trend has produced more than 40 million ounces (moz) of gold, with the Buster Mine yielding more than 19,000oz at 41 grams per tonne. The trend is home to a variety of gold mines at different stages, including existing operations and those under development, such as the AngloGold Ashanti Silicon/Merlin Project, Kinross Gold's Round Mountain Mine and the Comstock Project. Firetail Resources has committed to spending $5m (A$7.71m) over five years to earn its 80% interest in Excelsior, with Athena retaining a 20% free-carried interest until a definitive feasibility study is completed. The commercial terms for the Excelsior Springs project include an exclusivity fee of A$50,000, cash consideration of A$200,000, an issue of 32 million fully paid ordinary shares and a 1% net smelter royalty (NSR) to Athena Gold on ground without pre-existing royalties. The agreement is subject to shareholder approval and a formal joint venture agreement, with completion expected by 7 August 2025. The Bella project is within the Homestake Gold Belt, known for hosting approximately 85moz of gold. For the Bella project, Firetail has paid an exclusivity fee of C$100,000 ($72,777.6) and will pay a cash consideration of C$600,000, along with issuing 17 million fully paid ordinary shares. A 1% NSR royalty is granted to Badlands Resources, which can be repurchased by Firetail Resources within five years post the commencement of commercial production for C$500,000. Upon completion of both transactions and the issue of deferred York Harbour Consideration Shares, Firetail will have a total of approximately 504 million shares on issue. Firetail managing director Glenn Poole said: 'The acquisition of such high-calibre gold assets will complement our current portfolio and leverages off the board's strengths, enabling us to diversify our exposure to the prevailing strong gold and copper prices. The Excelsior Springs Project represents an advanced, drill-proven opportunity with gold from surface, and the mineralisation remaining open in all directions with the potential to deliver an expedited resource – reinforced by the presence of further historic mines within the mineral claim that highlight the potential precious metal endowment of the area. 'The Bella Project sits in the shadow of a giant, with the Homestake mine being one of the most notable in modern history. The evidence we see on the ground – of extensive mineralisation-hosting Banded Iron Formation and multiple, significant grades occurring across the wider project area is highly encouraging. The opportunity to follow up on multiple, extensive, historically producing trends that have not been drilled in the modern era in a district known for its size and scale is hugely exciting.' In September 2024, Firetail met the conditions of an option agreement to earn interest in York Harbour Metals' Newfoundland copper-zinc-silver project. "Firetail secures options to buy two gold projects in US" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Time Business News
an hour ago
- Time Business News
Uniting Families: Comprehending the Temporary Contributory Parent Visa 173
Australia has been a destination of choice for migrants around the world for a long time, and with this there is a strong desire to reconcile families. For Australian citizens and permanent residents with parents abroad, contributor parents (temporary) visas (subcontinent 173) offer a path to bring the parents to Australia on a temporary basis. This blog subclass 173 visas features, eligibility, profit, costs and next stages. What is the contributory parent visa 173? The Subclass 173 Visa allows an Australian citizen, permanent resident, or the parent of a New Zealand citizen to live in Australia for two years. It is a temporary visa and the contributor serves as the first step towards the permanent residence via parents (permanent) visa subclass 143. Unlike standard guardian visa options with a long waiting period, the contributor visa class comes with a rapid fee – so the word 'contribution' indicates a financial contribution to offset the cost of health and social services. key features Stay temporarily for 2 years. No work restrictions – Parents can work or study in Australia. Australia's healthcare system through Medicare is not available on this visa. The subclass 143 (permanent) can be converted into visas within a period of 2 years. The visa cannot be increased or renewed; The holders should be in a permanent position or leave Australia. Who can apply? To apply for a subclass 173 visa, both parents and sponsors (usually their children) must meet certain requirements. Parents requirements: The application should be outside Australia and when the visa is provided. There should be an eligible child who is a settled Australian citizen, permanent resident or character of New Zealand. The balance of family testing should be met (ie, at least half of your children will have to live permanently in Australia). Health and character requirements should be met. There should be no excellent loan for the Australian government. Sponsor requirements: Must be 18 years or older. There should be an inhabited resident in Australia (usually stays in Australia for at least two years). Financially, the parents should agree to support and provide housing for the first two years in Australia. Cost Subclass 173 visa is part of the contributor visa stream, which means that it involves sufficient cost. By June 2025, the total cost is around $ 31,930 per applicant, payable in two installments: First installment (on application): Almost. Odd $ 2,800 Second installment (before grant): Almost. Aud $ 29,130 Note: Additional fee is applied to each family member included in the application. While expensive, the trade-off is much less processing time than non-contributory parent visas, which may take up to 30 years. Processing Time The average processing time for the subclass 173 visa is 3 to 5 years, but it can vary depending on the amount of applications and the individual conditions of the applicant. Many families choose this route to bring parents to Australia quickly, with a plan to apply for permanent residence through subclass 143 visas, which allows access to medicare and permanent disposal. Infection for permanent residence Once in Australia, on a subclass 173 visa, parents can apply for the contributing parents (permanent) visa -subclass 143. The cost of subclass 143 decreases for applicants who already have 173 visas, as the share of contribution has already been paid. It is important to apply for 143 visas before the 173 visa ends to ensure a smooth transition and valid migration in Australia. Pros and cons Professionals: Rapid processing compared to non-odd options. Rights and access to Australia during a temporary period. Route for permanent residence through subclass 143. No age restriction for parents of parents. Shortcoming: high cost. There is no access to medicines or social benefits during the 173 visa period. Visa cannot be extended-non-recurring action is required. Frequently Asked Questions Question: Can I include other family members in the application? Yes, you can include your spouse or dependent children in your visa application. However, each additional family member pays an additional visa fee. Question: Can my parents live for more than two years? Not on 173 visas alone. Before the end of 173 visa, you have to apply for the subclass 143 permanent visa. Question: Does my parents need private health insurance? Yes. Since 173 visa holders are not eligible for medicare, it is appropriate (and often mandatory) to insure extensive health during their stay. Also Read :- migration agent Newcastle final thoughts Contributory parents (temporary) Visa subclass 173 is a practical option for families reunite more rapidly in Australia than standard parents visa currents. Although the financial cost is important, the emotional reward of having loved ones is often ahead of the expense. TIME BUSINESS NEWS
Bloomberg
3 hours ago
- Bloomberg
Stamp Duty Deadline Dents The UK Housing Market
Can we expect a rapid rebound, or stagnation later this year? By Save Welcome to the award-winning Money Distilled newsletter. I'm John Stepek. Every week day I look at the biggest stories in markets and economics, and explain what it all means for your money. The UK housing market is behaving roughly as you'd expect, given that the cost of buying a home has recently shot up.
