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Doesn't seem as if this has hit the bottom yet.
Exactly proved my point of clueless people in charge of this giant company
This needs to change
These charges are very serious and can damage the brand sometimes permanently
Some people on top should go including CEO
This practice is quite common nowadays in corporate circles and and not unknown to our royal family.
Bit worrying. Also no smoke without fire but why pay the fine without either admitting or denying the charges?
RIO TINTO PAYS $15M TO SETTLE GUINEA BRIBERY CASE
(Sharecast News) - Rio Tinto has agreed to pay a $15m penalty over bribery charges brought by the US Securities and Exchange Commission, involving payments to a consultant in Guinea to keep mining rights over a project in the country.
The investigation found in July 2011 the company had hired a French investment banker, a close friend of a former senior Guinean government official, as a consultant to help Rio Tinto retain its mining rights in the Guinea's Simandou region.
Rio said it would pay the charges without admitting to or denying the regulator's findings that it violated internal accounting control provisions.
Another investigation into the same incident by the UK's Serious Fraud Office was launched in July 2017, and is still under way. Australia's Federal Police force is also probing the incident.
Good morning, iron ore futures rose by US5 cents or less than 0.1% to US$130.09 a tonne yesterday as a fall in shipments through one of Vale's biggest export terminals in Brazil timed supplies to a global market that's tightening as demand from top buyer China picks up:
https://twitter.com/CommSec/status/1636084342450716673
It's gone ex-divi now but technically around 7.5% annually based on the last two announced divis.
It’s sell now ask questions later it seems as so much negativity in market now. What’s divi equivalent to at 53.90 share price?
Price of iron ore is roaring away but stll folk are selling, beggars belief doesn't it.
Good morning, iron ore futures US$130.04:
https://twitter.com/CommSec/status/1635723473975930880
Avocet
Thanks, I vote for that... ;-)
If you were in that results update and seeing the poor and sloopy responses of their top managers and directors to the questions which was asked you might have said the same. It was so embaressing, they were so nervous and clearly were making up some of the answers because they didn't know it. The CEO himself was struggling too. Who are these people running this giant mining company which clearly not doing as well as it should considering the resources and potentials?
So yes, I will consider it, but very hard work to clean up the mess they created there.
This company has a potential and can do much better than this. To me the share price should go to above 9500 if they knew what they are doing
Lots of money and time have been wasted, bad decisions which costed shareholders loads of money and losses
Come on
IMHO
Good morning, iron ore futures rose by US$1.05 or 0.8% to US$130.49 a tonne yesterday following a drop in inventories at Chinese steel mills:
https://twitter.com/CommSec/status/1635369035075567616
I think we should make stockready1 CEO. Clearly he knows a lot a about the management of a mining giant. Much more than the current bod, so much is clear from his post!
I am not qualified to give investment advice, Throneofgames, but anyone can use logic to determine the best potential forecast given the information available. After that, it comes down to research and luck. Ballast is needed in a portfolio to temper the more speculative investments.
Good morning, iron ore futures lifted by US$2.11 or 1.7% to US$129.48 a tonne yesterday as data showing higher Chinese steel output lifted sentiment:
https://twitter.com/CommSec/status/1633927293365256192
Loggy
Thanks you; that makes sense
However I still think despite the divi this will go all the way down below £50, not making enough profit means bad management while the market is to their favour. This means they are wasting. I joined one of their AGM live meeting and truly some clueless managements who didn't know nothing, that was a year ago and I hope they are sacked but to me this company has potential and can do very well if managed well. I wasn't even impressed with CEO either, I think they need to re-think what they are doing and think well. This company has huge potentials but I truly think some clueless in charge which they need to go.
I hope decision makers see this message and do something about it that is the only way we see push beyond £80 mark, that is the real potential here but sadly been missed because of bad managements.
IMHO
GLA
DYOR
Stockready, thanks we all should have listened to your wisdom weeks ago.
Alas, can you tell us what share will bring your son "very high growth"?
I took some shares off table for elder sons ISA a week ago. The dividend was fully priced in and as his instructions are for VERY HIGH growth, can reinvest if, as has happened, from a small fall in the mkt cap that exceeds the value of the dividend had no bargain been executed
I think after cutting the divi from an admittedly very generous level due to a bumper year to a very mediocre level, this wont require much scrutiny. This is well covered many times over.
Happy days if the SP goes down further as the divi only gets better and I am in the accumulation phase again.
Any divi over 5% needs decent scrutiny in my view to sanity check whether it’s sustainable.
Rio revenue 38% down!
Next level 45.
You think the company should pay out money it has not earned? Earnings last year were less than the previous 'bumper' year! Better than taking on debt to pay an inflated dividend with interest rates where they are.
"Why they drop the nice divi from 10% to this rubbish level?
3.1%
Is a joke for the company of this size!"
It's not 3.1%, that's just this final dividend. Annually it's about 7.3% based on SP of £56.88
So if you buy at your predicted £50 then you'll get 8.3%
Why they drop the nice divi from 10% to this rubbish level?
3.1%
Is a joke for the company of this size!
It's gone ex-div today. Divi is 3.11% so net effect is RIO has dropped around 1.7% today.