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To me this is a very well managed company, in the next 3 years I'm expecting a massive boom there is no company out delivering this sort of product on this level its a game change ,yes there changes ahead but as a investor surus mins years ago I still see this as amazing opportunity
Assuming the forecast production drops means EPS stagnation over FY24 and possibly FY25 then AAL is still on 11.3x.
share price drop is significant and knee jerk response but fact is are we are looking at dead money?
More to drop. Woodsmith mine pig in a palace. Spent billions. Not even a product with demand. Probably end up doing the government a favour burying nuclear waste.
FT: Anglo American shares suffer biggest one-day fall since financial crisis
https://www.ft.com/content/9e794642-f7f3-497a-ac02-e02b63cb96aa
=== or ===
https://archive.ph/mgfVk
Buying in point, as the drop is overdone.
Too true, the world has stagflation coming but AAL says "Looking ahead, the fundamental supply and demand picture for many metals and minerals is ever more attractive. Many of the world's major economies are focusing their resources on meeting global decarbonisation timelines and, as the global population grows, continues to urbanise and demands higher living standards, we expect unprecedented demand for responsibly produced raw materials. We are improving our resilience and ensuring we are set up to grow the value of our business into the major demand trends, drawing on the bench of well sequenced margin-enhancing project options within Anglo American."
Survival of the fittest will be the name of the game for some time; shareholders will be targeted for their wealth/exploitation and small investors (me) and those starting out in the game have a difficult field to play on.
Jemgee, I am in agreement with you that I didn't think to RNS too bad, headlines stating "slashing" production are misleading, when "trimming" (of selected commodities) would be more accurate.
The divi has been "cut/trimmed" twice recently from last years highs, but another cut would be hard to stomach.....hopefully the cost saving measures will help protect the divi.
The ramping up of quellvecho copper mine production seems to have be overlooked today.
Incidently, all FT100 miners were up today....oh the irony....
All this Davos sustainability cr@p is going to drive companies into the ground. Pun intended. All the boards of these multinationals need booting into touch ASAP.
I for one will be looking for changes in the BoD.
For such a large and supposedly stable company, today is a total disgrace and the board have clearly failed the shareholders.
If they cut the the Divi, I it's Curr'tis's, Could touch 14s, I'll average down then ,GLA,
First time buyer. 138 shares at 1814.29p. That's got got to be the bargin of the Century. Far too oversold. Big Bounce Monday
The CEO probably thought maybe 4% drop on the RNS this morning, But not 19%...but the news needed to be released (my initial read of the RNS was not too bad and it started to climb after a few hours trading, before dropping away)
My lowest buy was £18.30 (started buying at £19.40), but how low can this go?
And Last week the sp jumped 7% in one day...
Dare they cut the dividend again? When is the next AGM?
Well done chief exec and board, a marvellous days work! Time to reward yourselves with some bonuses and pass round the cigars…….and don’t forget to reward yourselves some share options…….marvellous marvellous………….
Had a little dabble at 1812 - just before it all locked up at the end .
Seemed a bit of severe reaction - for such a big company it sure is a massive move in SP .
Although looking at it's history it does seem pretty volatile .
I feel for holders , days like this are not pleasant .
Anyway , Best of luck .
I missed Close due to helping fix Nabours Christmas lights!!!,
You couldn't make it up:))).
I bought at 1915 today thinking that was a bargain, then wasnt allowed to buy anymore since 1625, so price crashing and no opps for buyers to come in that is market manipulation at its best!
Chief exec needs to resign in the morning, drop magnified many times by the useless useless useless way some quite logical information was presented……once confidence is lost, can’t get it back and will only damage the company further. I hope the big institutional shareholders are on the phone to the chairman as we see a disastrous day end
Woodsmith is going to be a game changer once (if) we get there, keep the faith!
Tried to add at the close, but couldn't get a quote...today was crazy, see what the opening is on Monday..
Woodsmith is the key takeaway in the update for me. I think they are cutting costs and maximizing returns at lower production to finish Woodsmith which they are banking on being a winner.
"
· Capex of c.$5.7 billion (a reduction of c.$0.8 billion) and includes Woodsmith
2025
· Production expected to decrease by a further c.3%(2): production changes to enhance value and reduce unit costs, and scheduled maintenance
· Capex of c.$5.7 billion (a reduction of c.$0.4 billion), including Woodsmith
2026
· Production expected to increase by c.4%(2): benefiting from higher volumes in copper, iron ore, steelmaking coal and diamonds
· Capex of c.$5.3 billion, including Woodsmith "
Huge dump in last few minutes. Trading212 showed shares as halted.
Stupid me bought at £20.50 this morning. Will wait for £12 to top up and average down.
Happy with the dividend unless that gets scrapped next ?? Is a possibility now.
Don't underestimate how low this will go now.
Damn
Thankful for the buying opportunity but scorn for the fools who presented it.
I guess there are a load of stop losses kicking in - when will it stop?! The machines are taking over!!
Even worse in the context of the general market having a decent blue day. Now down 18%, heads have to roll………