Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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611.50 close, 618 day high. Excellent progress, no complaints. - GLA.
Excuse typo in title of previous post. Meant of course: Interim 2015. - Cheers.
Decent enough market reaction to interim, in view of yesterday's 533 close, suggests that most negatives re China's woes & lower copper demand were priced in. Let's hope we can consolidate todays' gains. - GLA. http://www.lse.co.uk/ShareNews.asp?shareprice=ANTO&code=b4a7cfb2&headline=UPDATE_2Antofagasta_eyes_cost_cuts_and_lower_capex_as_earnings_slump
Maybe of interest, link at bottom. Perhaps exact figures to be taken with pinch of salt, but info below probably 1 factor for today's decent bounce from 546+ low to 569 day high so far. Whatever the true position re China, holders will welcome more of the same, hopefully leading to a change in trend. - GLA. "China's copper consumption to grow 6% to 9.22 mil mt in 2015: Antaike Hong Kong (Platts)--20 Aug 2015 453 am EDT/853 GMT China's copper consumption is expected to grow by 5.7% year on year in 2015, reaching 9.22 million mt, state-owned Chinese metals consultancy Beijing Antaike said in its copper sector report issued Thursday. The power generators and air-conditioning manufacturers are set to be the major consumers in 2015, accounting for 65% of China's annual national copper consumption, Antaike figures showed. Antaike expects China's refined copper output to reach 7.4 million mt this year, up 7.6% year on year. The country's blister copper smelting capacity and refined copper output capacity are expected to rise by around 17% and 9% year on year, respectively, by end-2015, the Antaike report said. China is expected to add 950,000 mt/year blister copper smelting, and 900,000 mt/year refined copper output capacity this year, taking blister copper smelting capacity to 6.45 million mt/year by end-2015, compared with 5.5 million mt/year in end-2014, and refined copper output to 10.76 million mt/year from 9.86 million mt/year, the agency said. In the report, Antaike forecast China to have a refined copper surplus of 980,000 mt in 2015, lower than the 1.488 million mt surplus seen last year. The reduction was attributed to an anticipated drop in net refined copper imports this year. The agency forecast China's net refined copper imports to reach 2.8 million mt this year, down 16% year on year. It attributed the decline in imported copper trade to the devaluation of the yuan, lower interest rate, and tighter credit facilities." http://www.platts.com/latest-news/metals/hongkong/chinas-copper-consumption-to-grow-6-to-922-mil-27725766
well they spent a billion and didnt bat an eye lid thats shows absolute confidence and that will do for me.
"Price was 552.9 on live prices and China won't weigh forever You have to invest on a few years not days Buying the 50% stake in this new mine is a positive for me gla" =================================================== Railride, Fair enough. - Agree with your general view as I've already mentioned patience needed here & more volatility likely. Let's hope global Cu prices to find a bottom fairly soon. ANTO's interim next week on 25th Aug will also provide useful pointers for the coming weeks/months. - GL.
Price was 552.9 on live prices and China won't weigh forever You have to invest on a few years not days Buying the 50% stake in this new mine is a positive for me gla
"buy a 1000 shares good management great price 553" ================================= RR, Excellent price, considering 553.50 was day low & only available for a few secs. ;o) Obvious factors weighing down here, China's contraction & their main index falling another 6% today + Cu prices at over 6 year lows. http://www.nasdaq.com/markets/copper.aspx?timeframe=7y GLA.
buy a 1000 shares good management great price 553 they at least know what they are doing jmo
BUY for TARGET 585 The trend of ANTOFAGASTA PLC shows buying side. Resistance level of 576 with the stop loss of 570 Stock is trading in a range and trading near the trend-line. Breaking the resistance line will lead to upside movement. Stock is trading above the 50 DMA with positive bias. RSI is trading near to 57.29 level with positive bias, in upcoming session upside movement is expected. MACD and Signal line is sustaining above the zero level line. Skype tayal.smith1
Almost 5% today, great for those who timed their entry correctly. Easy money.
With China's surprise devaluation of the Yuan battering markets, esp commodity stocks, testing times. Day low, 549, though recovered to 574. However, Cu prices holding up. If speculation (& that's all it is at this stage) about major funds investing in copper mines are confirmed, we can be sure that any such huge investment hasn't been taken without ample research. - GLA. http://www.nasdaq.com/markets/copper.aspx?timeframe=7d "Someone just made a $1 billion bet that copper prices have hit rock bottom - DAVE FOREST, Aug. 11, 2015, 11:36 PM http://uk.businessinsider.com/1-billion-bet-on-copper-prices-at-bottom-2015-8?r=US&IR=T For the last few months it's seemed like few investors wanted to touch natural resources. But now a flurry of activity appears to be emerging in the sector. I noted last week how resource-focused private equity groups have been quietly amassing tens of billions in new funds. And this week, news suggests that such funds may be about to step into the copper market. That news came in key copper-producing nation Chile. Where local press reported that investment funds have agreed to buy the Mantoverde and Mantos Blancos copper mines being sold by major miner Anglo American. The price for the deal will reportedly be significant. Coming in at between $500 million and $1 billion. The papers didn't name the particular groups involved in the sale. But did note that an "English investment fund" would be the buyer of the two mines. Interestingly, Reuters reported in June that British investment firm Audley Capital had been amongst the first round of bidders for the projects. Whatever the identity of the buyer, the deal would be very significant for the mining sector. Representing one of the largest deployments of capital from the private equity sector into the industry during the recent downturn. If the purchase does indeed materialize, it would be a confirmation that private equity is becoming a driving force in resource investment. That fact would be very encouraging for project developers. Signaling that money is still out there -- and a lot of it -- for mining projects. The key being that investments now have to fit the scale and specs being sought by billion-dollar funds globally. - Here's to a copper lining."
Maybe of interest to ANTO holders. - Let's hope the bottom isn't too far off, despite some very bearish broker targets given the past few days - FWIW, the lowest target now at only 352 . - GLA. "Copper bounces off 6-year low on hopes for China stimulus - Commodities. Aug 10, 2015 http://www.investing.com/news/commodities-news/copper-bounces-off-6-year-low-on-hopes-for-china-stimulus-355213 Investing.com - Copper prices bounced off a six-year low on Monday, as a recent batch of disappointing Chinese economic data fuelled speculation policymakers in Beijing will have to introduce further stimulus measures to boost growth. Copper for September delivery on the Comex division of the New York Mercantile Exchange inched up 1.1 cents, or 0.48%, to trade at $2.344 a pound during European morning hours. On Friday, copper tumbled to $2.313, a level not seen since June 2009, before ending at $2.332, down 0.8 cents, or 0.36%. Copper prices lost 2.3 cents, or 1.31%, last week, the sixth consecutive weekly decline, amid growing concerns over the health of China's economy. Government data released on Sunday showed that Chinese producer prices fell by a more-than-expected 5.4% in July, the 40th straight monthly decline and the worst reading since October 2009. Consumer prices rose 1.6% last month, above expectations for 1.5% and up from 1.4% in June. On Saturday, data showed that the country’s trade surplus narrowed to $43.0 billion last month from $46.5 billion in June, compared to estimates for a surplus of $53.3 billion. Chinese exports slumped 8.3% from a year earlier, far worse than forecasts for a decline of 1.0% and the biggest fall in four months. Imports dropped 8.1%, broadly in line with expectations for a drop of 8.0%. A slowdown in domestic demand indicated a recovery in the broader economy remains fragile and may need further government stimulus. The Asian nation is the world’s largest copper consumer, accounting for almost 40% of world consumption last year."
good call tayalsmith, another chancer to avoid
BUY for TARGET 593 The Major trend of ANTOFAGASTA PLC it is showing strength for buying. If it breaks the resistance level then one can initiate the buying position in the stock. Resistance level of 587 then it can test target level 593 with the stop loss of 583 . RSI is trading near to62.67 level with positive bias, in upcoming session upside movement is expected. MACD and Signal line is sustaining above the zero level line. Skype tayal.smith1
STM, In nutshell: ongoing poor data from China, the biggest customer of copper buying some 40% of global supplies + Cu prices falling past few years. No coincidence that Cu prices peaked about 2011, coinciding with Chinese growth peaking. I'm in this, with 4 positions posted on iii. Two well down, another 2 buys at well under 600. My target, 725+. Prospects for Cu recovering are fairly bullish, but timeframe uncertain. Maybe 2016, possibly later. When demand for Cu outstrips supply again, this will recover well. That process will be aided by the fact that many copper mines are old & new ones have been put on hold. Patience is key with this one. Strong buy for L/T hold, meantime, we may see more volatility. - GLA.
Big fall today. Any reason? no rns....commodity prices.
What shape?
sold at 689.5... very happy with that
Scooped a few at 678 in early trading..... due a bounce ...
When are we to expect the dividend in the post?
Antofagasta sells Chile water business for $1 billion: Miner Antofagasta has sold its water business in Chile for almost $1 billion, strengthening its balance sheet as it tries to develop various projects amid volatile copper prices
Profits at copper miner Antofagasta sank more than expected in after lower production and weaker commodity prices were met with higher costs, as the company slashed its dividend by 77.4%. EBITDA dropped 17.8% to $2.22bn, missing the market forecast of around $2.3bn. The company did not address recent rumours that it may have to close its flagship Los Pelambres project in Chile.
Antofagasta cannot guarantee that its the embattled Los Pelambres mine in Chile will continue to operate, company President Diego Hernandez said.
Antofagasta has reached an agreement with locals to resolve two-week-long protests that have affected production at its flagship Los Pelambres copper project in Chile. The company expected normal operations to be resumed in the coming days, though admitted that the industrial action resulted in 8,000 tonnes of lost production. Antofagasta "will work to mitigate this impact over the rest of the year", it said.