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Bloomberg reporting BHP considering a bid for Anglo American
Everyone could lose even more without AAL stepping in because without financing (and COVID hitting right after) it would have collapsed into insolvency/admin within a very short time, if I remember correctly TS was a fan of SXX and frequent poster there too, I've made some £ on SXX during these troubled times btw, although now looking back it wasn't justified taking such a risk considering high chance of ending with nothing and losing couple of properties £ value.
Lost a packet on this when it was Sirius
Think how much Barenberg Bank made after their broker downgraded this valuing this at £16 only a few weeks ago.
No doubt they made millions from that.
Nice update and copper prices doing well ,
According to the Woodsmith Liaison Group meeting, the TBM should reach Ladycross (29.2 km) by the end of this month.
https://uk.angloamerican.com/~/media/Files/A/Anglo-American-Group-v5/UK/liaison/30-january-2024-presentation.pdf
OR
Inflation and war are good for commodities. US inflation is rising.
"IC article today suggesting that AAL might be takeover target. BS IMO"
Why not? Market cap makes it look like a tiddler now compared to the mining big boys. It obviously looked better value at 1600p a few months ago though than now at 2200p.
Come back in 3 years
Any update on the Potash mine ?progress there would help ?
I remember the high of £41 at this time in 2022. I've been in this for 3 years and it's turned into a big disappointment. Mind you, I think it fell back to £5 back in the noughties.
Dragon, I reckon the locker has lots more. Look where this was a couple of years ago, and reflect that (a) inflation has occurred (b) half the mines have NOT collapsed, exhausted, or been sold off (c) demand will not disappear long term. Fundamentally this company is worth owning.
Having dipped to 1700p only a few months ago, I seriously doubt there is much more left in the locker. I will be selling when it reaches 2250p thanks.
Currently on way to 2,500p analysts suggest
Looks like the resistance has been broken, next step up towards £22
This article discusses Whitehaven Coal's acquisition of BHP/Mitsubishi's coal assets in Queensland, Australia. Which is where Anglo American has met coal assets:
www.metallic.media/whitehaven-coal/
IC article today suggesting that AAL might be takeover target. BS IMO
Thank you
BHP this week.....markets like sales of some assets, gives weight to valuations.
BHP, Mitsubishi Development seal sale of stake in coal joint venture
BHP Group Ltd said it and Mitsubishi Development Pty Ltd had completed the sale of the Blackwater and Daunia mines.
These mines are part of the BHP Mitsubishi Alliance metallurgical coal joint venture in Queensland. BHP and Mitsubishi Development each hold a 50% interest in the venture.
BHP announced back in October it had agreed to sell the Blackwater and Daunia mines to two wholly owned subsidiaries of Whitehaven Coal for USD4.1 billion in cash.
On Tuesday, the Melbourne, Australia-based resource miner said Whitehaven Coal had paid BHP Mitsubishi Alliance USD2.0 billion cash on completion date on Tuesday plus a preliminary adjustment of USD44.1 million for working capital and other agreed changes.
Whitehaven Coal paid a USD100 million deposit on signing of the asset sale agreement on October 18.
BHP said USD1.1 billion cash remains payable by Whitehaven Coal to the joint venture over three years after completion and a potential additional amount of up to USD900 million in a price-linked earnout may also be payable by Whitehaven Coal to the venture over three years.
he price-linked earnout is subject to a cap of USD350 million each year and depends on average realised pricing exceeding agreed thresholds for each of the three years following completion on April 2, 2024.
"The total cash consideration for the transaction will be up to USD4.1 billion plus the final completion adjustment amount," BHP said.
Some resistance @ 2110p before the next leg up.
HOLD for me for the longer game.
gla
£20,s nice to see this recovery play coming to fruition
Mining analysts have been forecasting a rise in copper prices for over 12 months, but the slowdown in the Chinese economy reduced copper demand and prices, but now Chinese PMI and factory numbers are turning positive for the first time after 6 months of negative numbers....hopefully this is the start of a global upturn leading to a steady gradual climb in copper prices.
Also there was an article on Duncan Wanblad in the Sunday Times on his time at AAL, he is very positive on future, but no earth shattering news on the wordsmith mine or any other project.
....Is in highest level of Contango ever recoded at $105 above the "spot" price. That suggests dealers (who generally know their stuff) expect the price to rise sharply .Copper is AAl's second largest earner and contributes about 0ne third of Ebitda ....
Hi all just wondering if anyone knows anything about the selling part of the Woodsmith mine as was mentioned late December that Anglo were looking for potential investors.....Have had a look around the internet and couldn't find anything
Not in here yet but on my watchlist and waiting for bored sells (not board sells!).
https://stocks.apple.com/ATI7zL_q1ShukgjG-pI8quA