Welcome to our dedicated page for Goldmoney news (Ticker: XAUMF), a resource for investors and traders seeking the latest updates and insights on Goldmoney stock.
Overview of Goldmoney Inc. (XAUMF)
Goldmoney Inc. is a TSX-listed company that specializes in the investment and custody of enduring real assets, with a core focus on secure precious metals trading and storage solutions. Operating within a niche segment of the financial services industry, Goldmoney integrates expertise in asset security with diversified business operations, including property investment and jewelry manufacturing. This dual focus not only enables the Company to offer robust custody services for high-value assets but also to harness opportunities in the real estate and luxury goods markets.
Business Model and Strategic Operations
The business model of Goldmoney is built on generating revenue through three primary streams:
- Precious Metals Trading and Custody: The Company offers secure and efficient trading platforms along with custody and storage solutions. This service is essential for clients seeking a safe haven for their valuable assets, and the robust infrastructure has made Goldmoney a notable participant within the precious metals market.
- Property Investment: In addition to its core asset custody services, Goldmoney is actively involved in property investment. The Company invests in real estate assets that provide long-term, inflation-adjusted income, while leveraging its strategic acquisitions to enhance its asset portfolio.
- Jewelry Manufacturing and Retail: Goldmoney’s involvement in jewelry manufacturing complements its precious metals business. This vertical not only creates an additional revenue stream but also helps in brand positioning within the luxury and lifestyle segments.
Market Position and Industry Significance
Goldmoney holds a unique position in the market, distinguished by its expertise in managing real assets that are both tangible and enduring. Known for offering secure custody solutions, the Company caters to a client base that includes institutional investors, high net-worth individuals, and other entities that require stringent asset protection measures. The integration of property investments and jewelry manufacturing further allows Goldmoney to diversify its risk and optimize returns, thereby bolstering investor confidence through consistent value preservation.
Expertise and Operational Excellence
Goldmoney demonstrates clear expertise in asset management by combining state-of-the-art trading platforms with secure storage solutions. The Company adheres to strict international financial reporting standards and leverages its extensive experience in diversified asset management to navigate market complexities. Investors and industry professionals value its transparency in operations, as well as its ability to maintain a comprehensive and secure portfolio of real assets.
Regulatory Framework and Compliance
Operating under stringent regulatory oversight, Goldmoney ensures compliance with industry standards and financial best practices. The Company’s adherence to IFRS and other regulatory requirements underscores its commitment to transparency and accountability. This regulatory discipline bolsters its reputation as a trustworthy custodian of high-value assets and aligns it with other respected entities in the financial services landscape.
Competitive Landscape
In a competitive market populated by other custodians and traders of precious metals, Goldmoney differentiates itself through its diversified business approach and secure asset management processes. Its blend of traditional asset custody with innovative diversification into property and luxury goods enables it to navigate market volatilities effectively. Detailed operational transparency and a client-focused strategy further contribute to its distinct market positioning.
Overall, Goldmoney Inc. remains a pivotal player in the realm of real asset management, consistently providing secure asset storage, diversified investment opportunities, and a reliable platform for trading and custody of precious metals. This comprehensive business model underpins its significance for investors seeking stability and long-term asset preservation within a complex market environment.
Goldmoney Inc. (TSX: XAU, US: XAUMF) announces its UK subsidiary Goldmoney Properties has acquired the 'Clarendon Quarter' in Oxford for £29.5M (CAD $52.5M). The 2-acre mixed-use portfolio includes the Clarendon Shopping Centre, retail units, and offices, totaling 172,377 square feet.
The acquisition is financed through equity and £25M (CAD $44.5M) in new debt. GPL secured a £100M financing agreement with Barclays PLC at SONIA +1.8%. The property's annual rental income decreased from £2.9M in 2022 to £1.2M currently, expected to decline further by 50% in 2025 as tenancies are surrendered.
Oxford City Council granted planning consent for redevelopment into research labs, offices, retail spaces, and student accommodation. The portfolio's current Loan-to-Value ratio is 42%.
Goldmoney Inc. (TSX: XAU) (US: XAUMF) has responded to media reports about a potential property transaction in the United Kingdom. The company confirms it has entered a period of exclusivity to complete documentation for a property purchase, aligning with its general acquisition strategy. Goldmoney emphasizes that discussions are ongoing with no guarantee of completion and will not provide further comments until a purchase agreement is finalized.
Goldmoney Inc. (TSX: XAU) (US: XAUMF) has released its fiscal 2025 Q2 financial results for the period ended September 30, 2024. The company reported Group Tangible Capital of $135.3 million, showing a 1.1% quarter-over-quarter increase. The Group Tangible Capital per Share remained steady at $10.26, while excluding MENE it increased 7.3% to $9.30. However, Adjusted Net Income decreased by 34.2% quarter-over-quarter to $4.4 million. The company reported a net loss of $3.896 million, though total comprehensive income was positive at $792,000.
Goldmoney Inc. (TSX: XAU) (US: XAUMF) has completed its continuation from the Business Corporations Act (British Columbia) to the British Virgin Islands (BVI) under the BVI Business Companies Act, effective September 20, 2024. The company's board believes this move will allow for more efficient capital returns to shareholders through dividends and share buybacks, as well as better capital allocation among subsidiaries in Canada and the UK.
Goldmoney's common shares will continue trading on the Toronto Stock Exchange (TSX), subject to TSX rules and policies. Effective September 26, 2024, the shares will trade under new CUSIP (G4001R104) and ISIN (VGG4001R1047) numbers. For more information, shareholders can refer to the management information circular dated August 6, 2024, available on SEDAR+ or by contacting the company's CFO.
Goldmoney Inc. (TSX: XAU) (US: XAUMF) has announced a normal course issuer bid (NCIB) to repurchase up to 864,862 common shares, representing 10% of its public float. The NCIB will run from September 23, 2024, to September 22, 2025. Shares will be purchased on the TSX and alternative Canadian trading systems at market rates and subsequently cancelled. Goldmoney can repurchase up to 2,994 shares daily, with exceptions for block purchases. The company's Board believes this action may enhance shareholder value when opportunities arise. Under a previous NCIB, Goldmoney repurchased 744,500 shares at an average price of $8.10.
Goldmoney Inc. (TSX: XAU) (US: XAUMF) held its annual general and special meeting of shareholders on September 16, 2024. The meeting saw a 59.88% representation of issued and outstanding common shares. Shareholders approved setting the board of directors at five members, with all proposed directors elected. The appointment of KPMG LLP as auditors was also approved. Notably, shareholders passed a special resolution to transfer the company's governing corporate law from British Columbia to the British Virgin Islands, with 98.3% votes in favor. Management plans to implement this change promptly.
Goldmoney Inc. (TSX: XAU) (US: XAUMF) has announced its upcoming annual general and special meeting (AGSM) on September 16, 2024. The company is proposing a continuance into the British Virgin Islands (BVI), which shareholders will vote on. This move is believed to be in the company's best interest, allowing for more efficient capital returns and simplified management of subsidiaries. Key points:
- Shareholder votes due by September 12, 2024, at 1:00 p.m. Toronto time
- Over 90% of share capital owned by non-Canadian beneficial owners
- Common shares will remain listed on the Toronto Stock Exchange
- The continuance will affect certain shareholder rights under the current BCBCA
Shareholders are advised to consult legal advisors regarding the implications of this change.
Goldmoney Inc. (TSX: XAU) (US: XAUMF) has reported strong financial results for Q1 fiscal 2025, ending June 30, 2024. Key highlights include:
- Group Tangible Capital increased by 6.1% QoQ to $133.8 million
- Group Tangible Capital per Share rose 6.7% QoQ to $10.24
- Adjusted Net Income grew 57.1% QoQ to $6.6 million
- The company completed its NCIB, repurchasing and cancelling 865,909 shares since June 30, 2023
These results demonstrate Goldmoney's strong financial position and commitment to shareholder value. The company's performance metrics show consistent growth in tangible equity and earnings per share, both including and excluding its MENE subsidiary.
Goldmoney Inc. (TSX: XAU, US: XAUMF) reported its fiscal year 2024 financial results ending March 31, 2024. The company announced a Group Tangible Capital of $126 million, an 11% year-over-year (YoY) decrease. Group Tangible Capital per Share dropped 5.5% to $9.60 YoY but excluding MENE, it rose 4.4% to $8.03. Adjusted Net Income increased 15% YoY to $16.7 million. The company repurchased and canceled 726,160 shares at an average price of $8.46 and canceled an additional 212,600 shares from the SchiffGold divestiture, reducing shares outstanding by 6.1% YoY. Precious metal revenue fell to $59.3 million from $84.8 million the prior year, while total revenue decreased to $68.2 million from $86.6 million. Net income reflected a loss of $22.1 million, compared to a $5.3 million profit in the previous year. Goldmoney’s total assets were $185.5 million, up from $176.1 million the prior year, and total liabilities rose to $44.3 million from $3.9 million last year.
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