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Thanks, gcpinc. Was expecting it to take longer having looked at a few of the other case turnaround times. Hopefully that means it was easy to call, i.e. explicit terms of the contract. GOod luck everyone!
That must be it because it seems crazy that people are selling as the fundamentals get stronger and stronger. Copper holding just shy of 2.7 now too. Wonder how much longer for the astor judgement?
"MINING & ENERGY Talks to end strike at BHP’s Escondida mine in Chile postponed Negotiations aimed at ending a strike that has halted production at BHP Billiton’s giant Escondida copper mine in Chile have been postponed indefinitely, the government and a union said. After a week on strike, union leaders had said they were ready to meet overnight (AEDT) with managers of the northern Escondida mine and government mediators. But the Escondida workers’ union said in a statement that “scheduling problems” had prompted the company to ask for the talks to be postponed. “There is no date set. These negotiations take time,” junior labour minister Francisco Diaz said on T13 radio. A source in the union said its leaders planned to meet with government officials tonight (AEDT) in the capital Santiago. Some 2500 workers are on strike at Escondida demanding a pay raise. They have warned the action could last up to two months. The mine supplies five per cent of global copper output — some 927,000 tonnes a year. Like other mining companies, BHP (BHP) has had to cut costs as copper prices slid in recent years. But prices have rallied in recent weeks on the back of US President Donald Trump’s infrastructure spending plans. Copper is a key component in wiring, and demand for heavy machinery, electrical grids and telecommunication networks drives prices up. Renewed appetite in China, the world’s biggest copper consumer, is also shaping the market."
goo.gl/mMFGog They have warned the strike could last 2 months.
Yep they have http://uk.reuters.com/article/uk-bhp-billiton-ltd-chile-idUKKBN15O1DC?il=0 :)
I think that its those who believe they'll lose the astor case, selling up and waiting for the verdict which wont be for a few days yet surely?. It's fair enough if youre worried about losing recent gains but Im of the opinion that the judge will rule that the payment hasnt been triggered in accordance with the explicit terms of the contract Also copper's fallen back a bit. But what's really changed there? Short term, the escondida mine strike might be postponed and the chinese are back to trading after their new year so probably some profit taking. But against a backdrop of bullishness on the supply side it should go up again, IMO. I bought some more today. I should be called averageup these days.
A friend was there who told me the judge told the plaintiff something to the effect of "Im not here to decide what they intended but what the contract agrees to" so let's hope he sticks to that in the final judgement.
Great work, MrOnions. Thanks
Yes it was aimed at you, Juxtapose. ATYM "RE: Deramper alert.... 12 Aug '16 In answer to your question, I am a long term holder finally deciding to protect what is left of my capital here, the last of my investments, made on fundamentals." This was the post i was referring to. But well done if you since managed to ride it up from £1.30-1.60. Of course, I am nervous about the astor outcome, not because I think the mc deserves to fall (given the payments are spread out) but because of the very panicking you seem to be hoping for. If they lose and the sp markedly falls I will buy more. Will you?. I wager that you will. You often position post, looking back through your history and that is why I like to know the source before considering the veracity of peoples' messages. Best wishes and good luck to those that are holding for the outcome. If this falls dramatically, you'll be buying like no tomorrow, right?
At first i was grateful for this info then having a quick look at your history told me you sold out at 80p. Then I realised what your 'concern' for other posters not 'panicking about Astor was really about.
Well done, redknight. They just dont seem to want to encourage a market here for some reason.
If this continues until the end of the month we could then see a further boost when the currently priced in astor payment is added to the mcap! gla
What do you mean 'unfortunately' . a far cry from your usual expressions. So pious lol. and why sell such a small % of your holding if you believe its going back down by so much. Why not dump the lot? Thatll move it.
You mean youve sold higher up and want others to sell further down so you can get back in even cheaper.
Issues according to this article, resulting in a possible short term supply squeeze. http://oilprice.com/Metals/Copper/Copper-Prices-To-Rocket-In-2017.html
And the market has clearly been pricing in a loss for the astor case when the wording of the terms is clear for all to see. Doesnt matter anyway. So glad Im still holding! Well done to all those who are too. Have a great weekend! Yippee!
goo.gl/pP3sOv
What made you buy atalaya a few days ago if youre so bearish about copper prospects, stocks101?
Great news for bottom line with costs in euros and revenue in dollars. Copper price also holding. I was mistaken about update on 17th (confusing it with Premier Oil) but according to RNS it will be by end of the month.
I'll give you the benefit of the doubt. There is a lot to learn when trading. perhaps you should start with some basic info about spreads. good luck. Here's a link to get you started goo.gl/1NTvCJ