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News yesterday that china considering output cuts and copper at 7 month highs ..
Good news in the pipeline re SP rise ??
https://www.mining.com/barrick-anto***asta-to-spend-95m-exploring-for-copper-in-chile/
Https://www.mining.com/web/workers-at-centinela-copper-mine-approve-contract-offer/
https://www.proactiveinvestors.co.uk/companies/news/1034896/time-to-buy-anglo-american-and-anto***asta-says-ubs-1034896.html
Hi all,anyone know when divi is paid into ii accounts
Dividends in acc now waiting to be reinvested at these low levels, onwards and upwards then ....atb
Good results today and an increase in dividends should help get the share price higher. Glah and dyor.
Sp, broke part symmetrical triangle, which provides a forecast price target of 2155.
(reuters) - chilean miner anto***asta lowered its full-year copper output forecast on wednesday to 640,000-670,000 metric tons from 670,000-710,000 metric tons, on persistent water shortages in drought-hit chile.
water is needed in copper smelting and in the concentrator, where raw ore is broken down and processed into usable material.
the london-listed company said it produced 295,500 metric tons of copper in the first half, up 10% from the same 2022 period on higher output at its flagship los pelambres mine, where a desalination plant, which had been previously delayed, should be completed in the second half.
"guidance cut for full year 2023 copper production is likely to be a key overhang for consensus estimates," citi analysts said in a note.
anto***asta operates four mines in chile, the world's largest producer of copper, which is expected to see demand increase in applications from solar panels to electric cars, as the world moves toward green energy and electrification.
chile has just passed an increase in mining royalties to a range of 8% to 26% of operating margin from the current level between 5% and 14% from 2024.
ceo ivan arriagada said in june the company was re-evaluating a $3.7 billion investment at its centinela project because the new royalty "does impact competitiveness."
the miner left its capital expenditure and cash cost guidance unchanged at $1.9 billion and $1.65/lb respectively for the year.
"although the company has maintained its full year net cash cost guidance at 1.65 $/lb, slight uptick in gross cash cost does not bode well for cost normalisation narrative with improving production volumes," citi said.
pretty downbeat assessment goes against the market reaction so far today.
I've never in the last 15yrs not had a stake in ANTO. I've trimmed and topped up at various times, but the underlying assets and overall growth picture for copper have meant this is one I'm in long-term.
Honestly, if I'd just pumped everything into it, and trimmed when it has been close to peaks, then I'd likely have done better overall than with a more diversified spread.
Price target 1647, derived from higher low and higher high formation. Sp, has crossed 1500, and there is the possibility of it trying to form a new bottom pattern, just above 1500, before moving higher. Relative strength indicator is above 50, which is bullish. The most recent trough was in line with an up trendline drawn from 26/9/22, which accounts for the subsequent bullish action.
"It's a funny feeling watching your holdings go up"
A feeling I have completely forgotten. I look forward to experiencing it.
It's a funny feeling watching your holdings go up and be thinking 'Damn it!' because you were just waiting for payday before topping up further.
Oh well, might get another chance :) but ok either way.
Substantive sp rise, to near upper Bollinger band, however the major down trendline is just above 1500, so still bearish. The most recent rise was forecast by positive divergence on the relative strength indicator and also by three consecutive weekly candlesticks , where the body of the candle was smaller. The longer term chart shows 3 monthly candlesticks forming a bearish pivot, most recently. Long term support may be found at lower levels of 1000 or 1250. Relative strength is below 50 on all medium and short term charts ,which is bearish .
Looking cheap again under 1500p Going to dip my toes back in.
Looks like you sold a little early. I did recommend buying under 1600 not selling, now the Chinese economy is growing again anto will be fine, hold at 1600 plus or buy more if it dips below. Glah and dyor.
Momentum has gone again this, I've sold out after holding for a year with a 6% loss. I was 10% up at one stage but you win some you lose some.
Good dividends coming this month. Price of copper stable if not rising with demand. This share was 1700 not too long ago. Buying under 1600 is a great move. Dyor and glah.
https://www.proactiveinvestors.co.uk/companies/news/1006754/anto***asta-sees-pressures-easing-after-tough-year-slashes-profits-1006754.html
https://www.mining.com/web/erg-sees-copper-rising-on-high-demand-supply-worries/
thanks @jedi614.
Yeah i did bit of reading and looks like there is bit of shortage of copper. Anto is well placed.
We are in line of good dividend this year too. :)
Brokers need to re-assess, a lot has changed since the last brokers report in November and ANTO still has a reasonable dividend at these levels.
Copper is their only play,
Prices rising at highs ,
China reopening ,
Production will be increasing in tight market.