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Eye DT I can see it now, Glencoe buys Anglo American, HELP.! :)).
Always fun in the glenda world Scott, suppose time will tell.
To Jondoyogi and anyone else thinking this share looks like a top up buy at this point you must be nuts, surely? Per s.j.w's comment on this board on 29.04 this share is plainly run as a commodity by those in the know, for constant 20% swings (or often worse to the downside). Stand by now for the next dump.
The movement in the sp in the three weeks since 12 April has had the distinct feel either of repeated manipulation positioning it for such - or people inside the bubble knowing something we don’t but which also points to the same outcome pending.
Since the high of 4.86 on 12.04.24 copper has continued to rise, by around 6% even allowing for the pull back earlier this week (which has reversed substantially today). Iron ore has been rising steadily. Ditto nickel etc.. Yet GLEN.L has fallen 6.4%.
There have been multiple days when the market has risen significantly and GLEN.L has been flat or down, often amongst the worst few stocks on the index and even as other commodity stocks rose. E.g. 22.04 - FTSE up around 1.75%, GLEN.L flat. Same last Friday - FTSE up 0.75%, copper still rising, GLEN.L flat again.
Then this week it finally falls over fully. Tuesday it overreacts to the pull back in copper on the day, having not followed copper up repeatedly since 12.04. Yesterday - even allowing for the fact that it went ex-distribution (of whatever trivial remnant of one is left at this point) – it underperformed the market yet again, by over 1%. Then today, the last straw. Copper back up by 1.5%, market up 0.5% and down it goes once more, this time finally breaking through the April 5 level.
Worse, right on cue when you just cannot see what could possibly produce another such down day, we now get the AAL.L bid rumour being fully aired. (On which AAL.L rose nearly 5% this morning then collapsed vertically this afternoon.)
Add all this up and anyone betting against this falling back at least into the 420s promptly after today would have to be very brave. Hence why I am posting, which I do very infrequently.
PS - Obviously before you touch this share you now also need to factor in the other piece of choice dogsh*t that dropped this week. We now learn (what a surprise) that the supposed grand saviour of the share – spinning out the coal assets post-Teck so that that valuation millstone is lifted – is apparently now opposed by major shareholders.
So Teck in the end is apparently going to result in GLEN.L actually substantially increasing it ongoing exposure to coal! Brilliant, so it becomes permanently uninvestible for many institutional shareholders; i.e. it likely causes a permanent re-rating of the sp downwards.
The current shareholders apparently just want the company run as a cash cow, taking fat cash payouts on the coal. Err, while their capital slowly disappears, trapped in a share that no one else will touch?? And good luck with milking the cow. The distribution has just been slashed,
It will be entertaining if they Do DT,
I can't wait:)
Seems the consensious is 'dont do it glenda'.
Prob means they flippin will, grrrrrr
Sorry but Dream on Glencoe, apart from not being able to afford it, Anglo has huge transport problems in SE,
Poor roads and rain links, that why the SP has been dropping fot the last 3 years ,
Glencoe always throw their hat in the ring when the talk of a take over,
Sorry jmo. .
Eviking.
Any views on what will happen to the sp when the company stops buying Russian coal?
Gotta be in it to win it. A cheeky top up. In no rush. Happy Friday all.
The debt is already pretty high at over 80% debt to equity ratio. I'm not completely comfortable them taking on more debt at this time, so I'm thinking of ducking out for a while. Decisions, decisions...
Dont particularly follow Ade's doom mongering but i do wish old glenda would get this Teck issue all sorted signed sesled paid and done before opening the wallet and potentially spending more on any additional purchases.
Not got a particularly good track record when buying expansion, so rather hoping the Teck purchase can reverse that history, although i do think Anglos a good fit longer term, must not today.
That's drivel, Ade, sorry to say. Happy to top up if that happens again!!
Buying Teck costs money, but we get an asset. An investment for the future.
Glen should be trading at around £4 or just under based on last results. So £450pp is high still due to the Copper bounce.
And if they buy Anglo American this will cost loads and Anglo are struggling ATM.
Interesting...but why is the sp falling?
Global domination surely has to be a good thing!
Copper pretty perky these days and the best is yet to come with Teck, energy transition, China recovery, etc.
From this morning's Torygraph (not that there are any Tories any longer)
8:13AM
Anglo American shares jump as Glencore eyes bid
UK-listed miner Anglo American jumped in early trading amid reports that Glencore is considering a takeover approach.
Anglo American shares gained 4pc amid speculation of a bidding war for the De Beers owner, which rejected a £31.1bn takeover approach from BHP last month.
Glencore has held internal discussions about a bid, which are preliminary at this stage and may not result in an approach, according to Reuters.
Https://finance.yahoo.com/news/glencore-sees-yet-another-strong-062033856.html
I am not one of the largest shareholders, so they did not ask my opinion :) , but I am easy on this matter. If woke still rules, then the split companies can do better separately, and I will hold both, but I would prefer one conglomerate.
Several of Glencore Plc’s largest shareholders believe that the company should retain its coal assets, according to people familiar with the matter, throwing a proposed spinoff into doubt.
Glencore, the world’s largest shipper of thermal coal with a market capitalization of about $73 billion, had said it intended to spin the business off within two years of closing a deal to buy the steelmaking coal assets of Teck Resources Ltd.
But major Glencore shareholders believe that the company would be better off retaining its coal business, the people said, asking not to be identified because the information is private. The company’s largest shareholders are former Chief Executive Officer Ivan Glasenberg, the Qatar Investment Authority, and BlackRock Inc.
Glencore’s coal business is one of its most profitable units, driving record returns in recent years, and the plan to exit coal and list a new company in New York represented a major strategic pivot under current boss Gary Nagle. The company had long resisted pressure to follow rivals in exiting the business, arguing that the world still needed the dirtiest fuel and that it was more responsible to run the mines itself than sell them.
Ftse needs a rocket under it lads.
Us markets like Dodge Charger
UK like a Ford Pop
S,j, In the last 12months the ftse has risen by 4.5% (383) points
The Nasdaq has risen 30.90 % ( 3,773) points .
S,j, The FTSE should be be up in the 1200s to be compared anything like the Nasdaq,:)
I agree Glencore share price, feels like its controlled for the purpose of trading like a commodity, guess this is what Glencores all about.
The Ftse year to date, Is higher % gain than the Nàsdàq 100, S&P, BSE India, China 300 China. Reported in a article this morning on AJ BELL at 9.57AM 2 hours ago. Click on & have a read, no need to log in or have account. ?
Scott agree london market dead full stop
The new way is listing in us. I see great returns in the future.
Just comparing Glencoe with ANTO Over the last 6 months, Glencoe plus + 4.5% .Anto plus 65.5 % .what's going on Glencoe. .?