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That is for no loss now. What a great share this is next stop 230 This company ready to cash in with the electric battery age
RRR hold a 1.2% stake in Jupiter mines and Jupiter mines hold a 50% stake in Tshipi
RRR hold a 1.2% stake in Tshipi manganese mine. Here's yesterdays metal bulletin article: ...................... FOUR FERRO-ALLOYS GROUPS NAMED AMONG BIDDERS FOR TSHIPI Published by Rena Gu, Janie Davies, and Ellie Wang of MetalBulletin May 18, 2017 15:49 GMT London Market sources have identified four major companies active in the ferro-alloys sector as being among the bidders for the Tshipi manganese mine, they told Metal Bulletin. At least ten companies, based in China, Japan, India and the west, submitted preliminary offers for the South African miner in April, Metal Bulletin reported at the time. Fellow manganese ore producers South32 and United Manganese of Kalahari (UMK) have been named among them, along with Chinese electrolytic manganese metal producer Ningxia Tianyuan Manganese Industry Co (TMI) and Chinese investment group Citic Dameng. An acquisition of Tshipi either by South32 or by UMK would partly heed long-standing calls for consolidation in South Africa’s manganese industry amid protracted concern about oversupply from the country. TMI’s interest continues what market participants regards as a trend, set by the company in 2016, for Chinese manganese ore importers to buy upstream assets overseas. Its 2016 purchase of a stake in Consmin granted it offtake of 600,000 tpy of ore from the Jersey-headquartered miner’s Ghana Manganese subsidiary. It was TMI’s Consmin deal that prompted early predictions that Chinese groups would be well-represented among the parties interested in Tshipi. A spokesman for the owners of Tshipi declined to comment. Tshipi’s owners are simultaneously pursuing a sale and an initial public offering (IPO) on the Johannesburg Stock Exchange after announcing in March that they had appointed Bank of America Merrill Lynch as a financial adviser. Tshipi expects to produce 2.11 million tonnes of manganese ore in 2017, an increase of 21% from 2016. Metal Bulletin’s 44% manganese ore index cif Tianjin peaked at $9.22 per dry metric tonne unit on December 16, 2016 before subsequently moving as low as $4.02 per dmtu on March 17 this year. It was last assessed at $5.49 per dmtu on Friday May 12. The 37% manganese ore index fob Port Elizabeth hit highs of $7.96 per dmtu on November 25, 2016. It too dropped dramatically at the start of 2017, hitting lows of $2.23 per dmtu on March 10. The index has since regained some losses, reaching $4.38 per dmtu on Friday May 12. The two indices will be next calculated on Friday May 19. . https://www.metalbulletin.com/Article/3718384/Search-results/Four-ferro-alloys-groups-named-among-bidders-for-Tshipi.html
It seems I am alone but more bought than sold today and one buyer for 50000 so maybe this is finding a bottom. Still surprised the FT article on manganese and lithium batteries has not aroused more interest.
Seems like I bought this at wrong time but will try to sweat it through. Mines are all big losers right now. Pray for a change!
Read 'Adventurous Investor' in this weekend FT (mandatory reading), He was writing about lithium batteries and their future. Which shares will benefit. These got a mention but others were reckoned to gain more. Checked them all out and not happy. Don't fancy trusting that dodgy outfit Glencore. This looks interesting even if I have missed a good bit of upside. Manganese is also essential for steelmaking and with luck they are in a big financial turnaround. Also keen on their boring alumina - where there's muck there's money! Finally one or two brokers have turned from neg to pos recently, so this is now a rare single co investment for me.
enter that FTSE 100 on the next review ?????
earnings news dropping atm. profits of $630 million.
what is special about the manganese asset and why do you think the sp might go up to 2 pounds
A great manganese asset, shares at £1.64. I am eyeing £2
Jupiters results with Tshipi which lies contiguous with south mamatwan mine show the value here. Am eyeing £2 a share
Lovely jubbly. South African Manganese the place to be right now. Demand high from china up over 13% month on month in November South 32 lovely share price chart, next port of call £2 for another 20% and 4 bags full.
Slight wobble with rest of the miners. Now looking good again.
Why s32 suddenly dropped out of bed?
Talking to myself quite happily here!
Just keeps rising a penny or so a day...
I like a company like S32 that has doubled its sp since the low after the spinoff owners sold their shares and is so below the radar on the bulletin boards! Great!
Opium, at one point I thought I was the only idiot here! Congrats with the windfall in S32. Many that sold initial gift will be less impressed including the gift bearer BHP. If folks saw the predictability upon initial listing & just needed to wait patiently for the small receivers to sell off and keep topping up on the way down below 64p (-50% valuation) which was already ridiculously undervalued in respect of assets, it was sure to rerate! The rerate came sooner than I anticipated and clearly S32 is top candidate for best performer midcap diversified miner 2016. Ok, that's biased & only because we've done well here! It's always the toughest decision but I've decided to lock in some profit & trim 25% of the quite bulky holding so the rest can run it's future course. Even McKenzie (BHP) stated he'd held onto his allocation & many analysts questioning the sensibility of the demerger especially at a low in global commodity cycles. I think S32 is in a great position to stake it's own claim in commodies market and already leads with Aluminium, Silver, Nickel, Zinc & the worlds largest Manganese producer etc. As Brian Gilbertson (Founder/Former Chairman BHP) once stated, you can have as much iron ore as your heart desires but you can't make steel without Manganese and that seems to be lost on the current BHP BoD's. ATB
Indeed - I have doubled my small holding in this arguably, the best-run & focused miner.
word from credit Suisse. south 32 to give cashback to shareholders as it is unable to buy any suitable companies
Opium, you may find this interesting.... Itochu, Mitsui Said to Vie for Anglo Manganese Venture Stake by Brett Foley Ichiro Suzuki April 29, 2016, 7:05 AM GST - "Japanese trading houses Itochu Corp. and Mitsui & Co. separately bid for a stake in Anglo American Plc’s manganese assets in Australia and South Africa as the miner shrinks its business to weather the commodity-price rout, according to people with knowledge of the matter". "Anglo is considering the offers for its 40 percent holding in a manganese joint venture with South32 Ltd., the people said, asking not to be identified as the information is private. Perth-based South32 has an option to purchase the stake, which may fetch as much as $700 million, and may decide to pre-empt an agreement with another party, one of the people said". "Spokesmen for Anglo, Itochu, Mitsui and South32 declined to comment. South32, which was spun off from BHP Billiton Ltd. last year, said in February it would be willing to acquire Anglo’s stake in their manganese joint venture, if the price was right". "South32 owns 60 percent of the manganese joint venture, known as Samancor, and is the operator. The business, which is the world’s biggest producer of the material used in steel production, holds mines and smelters in South Africa, as well as the GEMCO mining operations at Groote Eylandt in Australia’s Northern Territory and the TEMCO alloy plant in Tasmania". - Read full article - http://www.bloomberg.com/news/articles/2016-04-29/itochu-mitsui-said-to-vie-for-anglo-stake-in-manganese-venture
Have to agree & like the way the short lived price decline allowed for further opportunity. An offer for Anglo's part of the Samancor joint venture asset could further boost the share performance! "We are well positioned to achieve FY16 production guidance for all our operations and remain on track to reduce controllable costs2 by US$300M". Let's see if the next quarterly update reiterates & continues the same guidance figures but I'm very happy with the surprising & unanticipated short term performance. I was rather expecting a slower rerate to current levels and in the longer term to reach the spin-off valuation which is approximately 3 x the low of 42p. Time will tell... ATB
Excellent 100% sp recovery from the 42p lows of January
Thanks Togglebrush, Kerr started as an Iron ore analyst and quickly moved up the financial ranks through diamonds etc. at parent BHP Billiton. A talented BoD's here led by a talented & experienced leader. Thus far, they've exceeded forecasts with regard to production & debt reduction which is now at very low level. Very well structured now to focus on M & A if there are suitable high quality prized assets to be had but Kerr & team will be very selective this early on. On the negative side, commodities affected in S32 portfolio i.e. Manganese pricing will likely remain low as long as iron ore prices are depressed but is well balanced by diversification throughout its portfolio. I do however think that S32 will swing upward sooner and more rapidly than it's struggling & sluggish parent. - According to Kerr, the company would also consolidate its local Mamatwan and Wessels manganese mines in the Northern Cape under one management team in order to maximise cash flow and build flexibility into the mines and smelter. This follows the announcement of major restructuring at its South African manganese operations in September. It will continue with the operational suspension of three out of four furnaces at Metalloys, and will reduce saleable manganese ore production by 900 000t per year and reduce its headcount by 620 employees at Hotazel. “Our new configuration will ensure we are more competitive and far more flexible to match market demand. As a result Metalloys will return to a cash positive position at current prices, our sustaining capital expenditure will reduce by approximately 80% to $7 million and we will see a 24% reduction in ore costs to $1.90 per dry metric ton unit (dmtu),” Kerr said. A decline in realised manganese ore and alloy sales prices saw underlying earnings before interest and tax (Ebit) fall to a loss of $51 million from $13 million. It is taking a $97 million impairment at South Africa Manganese. It has also indicated that interest in buying out joint venture partner Anglo American’s interest in Samancor for the right price. ““I think they’re going to hunt for a lot in that space. In theory, this is the time to be doing that as the bigger companies that would normally be natural buyers can’t be at this time,” Just One Lap’s Simon Brown said. http://www.moneyweb.co.za/news/companies-and-deals/south32-maintains-offline-capacity-at-sa-aluminium-smelters/ Definitely looking strong & not playing the oversupply game such as Anglo, Rio & BHP & Vale... ATB
Press ' http://blogs.barrons.com/asiastocks/2016/03/07/south32-soars-to-alumina-manganese-rallies/