Member Info for billybigwig

I wonder how this is going to play out it could be very difficult times for commodities I mean exchange rate from dollars to brics or vise versa could eat into profits its going to be messy

Https://www.reuters.com/breakingviews/indian-interlopers-can-disrupt-global-mining-ma-2023-08-25/

Eviking. Disregard thst last post didn't see you'd spread found it ;-))))

Eviking..somewhere in the region of £5.40 is can't remember the exact price

Yes glencore makes a very lot of money it did from 2011 at its IPO and has done year in year out it also had a debt to service which its brought down dramatically and yet it as only been above its IPO price once in 12 years great long term investment no? ..

Eviking..yeah I wouldn't like to be starting out again it was a different world when I was a youngster :-)))

dark****h...if glencore gets dragged back under £4 with current market conditions then anything is possible it could drop way below £3.80. these are strange times china is covering up big cracks ...its either going to implode . a correction at some point or they are going to have to push money into their economy ...if i was a betting man i'd say markets are going to drop big there are too many distractions going on usa are definitely falsifying their inflation figures

Re support level no sure let's see how the markets are overall ...what worries me is debts going back up thats always a concern as money is more costly to borrow and glencores trading arm borrow a lot of money and profits are down less profits forecast for next year too

Eviking re 88p I'd like to say never ...but never say never as they say but if it did Eviking ;-))

Billy's patience is wearing thin ;-))

Fingers crossed then :-))

Glencore reported first-half revenue of $107.4bn, down 20%. Underlying cash profit (EBITDA) was down 50% to $9.4bn. Performance was impacted by the fall in commodity prices from last year's elevated levels, especially in the energy markets, and higher costs.

Net debt rose from $75m to $1.5bn, and $4.0bn of free cash was generated. Glencore paid out $5.2bn through dividends and share buybacks over the period. A further cash distribution of $0.08 per share has been announced, alongside a new $1.2bn buyback programme.

At this rate I might reinstate my cheeky buy order @£3.80 :-))) who knows profits lower next year and debt creeping back up at the mighty glencore ..never say never

Troajan..yeah turbulence will be putting it mildly ;-))) cash is king as they say ...Well digital currency :-))))

Troajan. Yanks are very much in the same boat as China.. I check the news in the mornings because I'm expecting one heck of a market implosion :-(

Daytradenovice. A nip ? More like a very big bite sometimes :-))) the thing is we come out ahead and that's the main thing

Eviking..she's the best trading share by far when you get it right that is ;-))

Daytradenovice..eviking... :-)))))))) I'm happy with just trading for the moment..

That's from years ago ff but it's on Bloomberg

Mining giant Glencore has scrapped its $2.6bn (£1.97bn) dividend after slashing the value of its coal assets and plunging to a loss for the first half of the year due to the impact of the coronavirus pandemic.

The miner and commodities trader was the FTSE 100’s biggest faller on Thursday after revealing a net loss of $2.6bn for the first half of the year, down from a profit of $226m a year ago.

Glencore’s shares closed down 8% at 180p, down from almost 240p before the outbreak, after its chief executive, Ivan Glasenberg, told investors it would be “inappropriate” to pay a shareholder dividend in 2020.