focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Https://gmk.center/en/news/ukrainian-steelmakers-increased-the-production-of-rolled-products-by-14-4-m-m-in-november/amp/
A temporary corridor to and from the ports of Greater Odesa was launched in August this year. In November, 14 vessels exported a total of 620 thousand tons of iron ore and 140 thousand tons of steel products from Odesa and Pivdennyi ports.
Nice little video on here:
https://www.ferrexpo.com/what-we-do/logistics/
Think you may be slightly optimistic there Lytham. It says one of those ships is a wood chipping career. It also looks like coal is exported along those berths. I’m not 100% sure which part is FXPOs.
But ships are along side and being loaded which is a good sign.
Well if you look on maritime traffic:
https://www.marinetraffic.com/en/ais/home/shipid:753398/zoom:14
Bulk carrier Smoke is along size (which is large) and three others in the vicinity of Ferrexpos dockage. I haven’t noticed any Suezmax/ capesize vessels yet.
Spoken in the words of a true Russian bot Krok or should I say Krok of sh”#e?
The U.S. alone has over 4000 modern battle tanks, 1000 F16s (not including other aircraft), hundreds of HIMARs, and all they’ve given Ukraine is about 3% of the annual defence budget. If America wanted to give the Ukraines the capacity to push the Russian drunken rabble out of Ukraine they could do without much real effort what so ever. But they haven’t. Putin is that stupid he’s got himself into a strategic disaster 50 miles from his own boarder. Like I said in the previous post. Better have them tied up there for ever more than anywhere else.
These Western leaders that are advocating some kind of negotiation with Putin are stupid. In 5 years time he’ll be back trying to take someone’s else’s land and killing more people. Personally I think the West, Americans, CIA are happy with a prolonged war. Only supplying Ukraine with enough to survive. As long as Russia is bogged down in the Donbas, losing men and equipment at the rate they are doing they’re not going to be bothering anyone else. Why did America get out of Afghanistan? Bigger threats else where.
Https://www.ft.com/content/1f34138e-a1f1-43ca-85f6-63e6264a211e
Lets hope so anyway:
https://www.bbc.co.uk/news/business-67562529
Https://uk.news.yahoo.com/ferrexpo-top-manager-justice-ukraine-234700345.html
Selling at about 0.5, 2021 earnings.
Drop in the ocean. Sounds like the new CEO is tiding up old mess which is exactly what he’s supposed to be doing. Schroders Increasing their position at the same time.
LoungeLizard1, where’s that info from please?
The chair of UK-listed Ukrainian miner Ferrexpo has urged Kyiv to spare the company as Ukrainian prosecutors seek damages from its largest shareholder who is wanted in the country for alleged embezzlement involving a now-collapsed bank.
Speaking in London, Ferrexpo chair Lucio Genovese said the legal actions risked undermining investor confidence in Ukraine, just when the war-torn country needs to attract foreign capital.
“Ferrexpo is caught up in a dispute that has nothing to do with us,” Genovese said in an interview. “Ultimately, the Ukrainian authorities risk penalising British and American ordinary citizens whose pensions are invested in Ferrexpo.”
Genovese said the company planned to invest $3bn in Ukraine “over the coming years”.
Ferrexpo, which turns iron ore into pellets for steelmakers across the globe and was listed on the London Stock Exchange in 2007, has been hit by several court cases or investigations by Ukrainian authorities seeking to recover assets from Kostyantin Zhevago, its billionaire founder, who together with his family holds a 49.5 per cent stake.
Shares in Ferrexpo have fallen 52 per cent in London this year, bringing its market capitalisation to £464mn. The company’s output has tumbled 58 per cent in the first nine months of this year compared with the same period in 2021 because of energy, logistical and other constraints related to Russia’s full-scale invasion of Ukraine.
Zhevago was arrested in the French ski resort of Courchevel last year following a request from Ukrainian prosecutors seeking his extradition relating to the collapse of Finance and Credit bank in 2015. They have also taken action in Ukrainian courts to obtain more than $1bn in damages from Zhevago and have frozen shares held by Ferrexpo in its three Ukrainian subsidiaries.
Ferrexpo believes it is the victim of an orchestrated campaign to punish its largest shareholder. It says the legal swoop against its subsidiaries is illegal, that it was never party to the loans agreements Zhevago made with the collapsed bank’s creditors and that any attempt to seize Ferrexpo’s assets would penalise other shareholders.
Other large investors in Ferrexpo include BlackRock, Schroder Investment Management, Acadian Asset Management, HSBC and Vanguard Group.
President Volodymyr Zelenskyy is under pressure from the Ukrainian public, the EU, US and IMF to clamp down on the country’s oligarchs.
Zhevago, now 49, became post-Soviet Ukraine’s youngest billionaire and served as an MP for two decades. He also owns a TV station.
Ukrainian prosecutors say Finance and Credit made fraudulent loans to companies ultimately owned by Zhevago. The bank collapsed in 2015, inflicting losses on its creditors including the National Bank of Ukraine and on the country’s Deposit Guarantee Fund. “We are confident that President Zelenskyy is committed to the rule of law,” Genovese said. “It is important that he upholds the rights
Https://www.fool.co.uk/2023/10/25/this-ftse-250-stock-could-be-the-best-bargain-of-2024/
Well they are right about one thing. Any attempt to seize Ferrexpo’s assets would penalise other shareholders.
One day, hopefully sooner rather than later, someone in Russia will realise the insanity of the system there. Maybe!
https://youtu.be/cmvPiF7xAJw?si=jy6vN4rDuvHyTEaJ
Lots of filtered green on here. Looks like the bots have crawled back out from whatever stone they’ve been hiding under. Must be embarrassing for them to see Putin and Lavrov in Asia begging for help. If they wasn’t such spineless weasels I’d be almost embarrassed for them. Russia the great power crying for aid from Iran and North Korea. But don’t worry. As long as you keep giving your natural resources to China and India for next to nothing you’ll probably stay afloat. Russia the great power. 😂
Ukraine uses US-supplied ATACMS for the first time, says Zelensky https://www.bbc.co.uk/news/world-europe-67135163
Any loss of life is very sad. No wonder the majority of Ukrainian people don't want anything to do with Putin and his awful regime. The West, NATO and the EU should be doing everything they can to accelerate Ukraine's membership into NATO and the EU and stand up to the little cretin in the Kremlin. Slava Ukraine.
Initially these results seemed totally unimpressive. No mention of increasing exports via alternative routes, stock piling, dividends etc. 1.35 million tones however is not too bad in the current circumstances. That's a rate of 5.4mt per annum which is just below half of the 11.2mt produced in 2021. As of today FXPO has a market cap of $448 million, 2021 profit after tax of $871 million. Based on 2021 earnings this stock seems ridiculously cheap. IMHO production would soon be ramped up if there was some kind of cessation to hostilities. We all no the risks here but lets hope the senseless killing ends soon.