Member Info for billybigwig

Morgan Stanley reaffirmed their overweight rating on shares of Glencore (LON:GLEN) in a research note issued to investors on Wednesday, May 8th, Digital Look reports. The brokerage currently has a GBX 380 .....Glencore (LON:GLEN) Given New GBX 360 Price Target at Barclays Friday, May 17th, 2019...fecking ray this rover rating crap isn't it wait for a big drop then give your rating

That farmer is a big lass she throws that tractor around like tonka toy :-)))

Craig :-))

It's moving up pounds been hit :-)

Ken re glen yeah im getting fed up with it too I'm thiking g next goid rise get out put it I to a good oiler or farmer and leave it jut kerp taking a good divi

Scoop glencore mate

Ken what's your stop loss?

Equity swap for Katanga debt ...hmmm share buy now we know why ...Glencore seeks to address Katanga debt woes Canadian-listed company has been a near constant source of headaches for Glencore © Bloomberg May 16, 2019 11:35 am by Neil Hume , Natural Resources Editor Glencore is working on a deal to address the heavy debt load of Katanga Mining, the beleaguered Canadian-listed company that controls one of its most important assets. Glencore owns 86 per cent of Katanga Mining, which in turn controls the Kamoto Copper Company (KCC), one of Africa’s biggest copper producers and a key global supplier of cobalt. Katanga has been a near constant source of headaches for Glencore, which is run by billionaire trader Ivan Glasberg. After Katanga was fined last year by Canadian regulators for issuing false and misleading statements, Glencore decided to take a more active role in managing the company. Two of its top executives are now running the business and have set about shaking up its operations and imposing Glencore’s standards and procedures. As well as trying to improve the company’s profitability and performance on the ground, Glencore is also trying to tackle Katanga’s debt and unsustainable capital structure. In its first-quarter results statement, Katanga said it had received a proposal from Glencore aimed at tackling its indebtedness, which would be reviewed by a special committee of independent directors. In addition, Katanga said Glencore had agreed to roll up more than $450m of interest owed on related-party loans that mature in 2021, and had guaranteed a new $500m credit facility. Katanga did not provide details of Glencore’s debt proposal but restructuring $6.3bn of loans and $563m of interest payments will not be easy. However, the two sides have until 2021 to reach a deal that analysts reckon will have involve a debt-for-equity swap. In the three months to March, Katanga posted a net loss of $218.4m, against a loss $153m in the same period a year earlier. Katanga, which has a market value of just $700m, hit the headlines last year after it was fined by Canadian regulators for issuing false and misleading financial statements. That led to its chief executive Johnny Blizzard being banned from serving as a company director and a fine for Glencore’s former copper boss Telis Mistakidis, who served as a Katanga director and effectively ran the business. Mr Mistakidis left Glencore last year, while Mr Blizzard has been replaced by Jeff Gerard, the chief development officer of Glencore’s coal business. Paul Smith, Glencore’s head of strategy, is Katanga’s finance director. The company recently lowered its production guidance after its new management team launched a comprehensive business review, which is targeting significant cost reductions and operational improvements. “The company intends to update the market with revised gui

Fooking hell craig will putting g himself up for an MP next ..Craig re hangover ..hair of the dawn cured it I feel great :-)

May have to go and have a few beers hair of the dog I've never been hungover like this before might have a bit of sunstroke who feckin knows :-(

Ken re hangover yep all fecking day ...I've tried everthing it's just not budging

Oh don't doubt the power of the mystical crystal ball ;-) ... scfc miners are up so glencore should follow

Scfc it'll hit 2.85s today

I'll take a wild guess and say gkencore?

Why dit tou try Rio tinto is gone up over 4% in a few days and pays a good divi does kaz?

Forgot my fooking sunglasses so I can't perv ffs!

Craig get yurself of to the pub mate its fecking great weather mate enjoy the world going by while you have a cheeky few beers

Yes tom you did

Scoop because a lot of people are momentum/trend traders incase trump opens hos fooking trap on ****ter

Mining Mining industry can ‘transcend’ China, says Glencore chief executive Shift in Chinese economy has fuelled concerns on outlook for sector Glencore chief Ivan Glasenberg said the mining industry 'can transcend China’s journey to a consumption-led economy' © Bloomberg May 14, 2019 10:07 am by Neil Hume , Natural Resources Editor The metals and mining industry can “transcend” its biggest customer China as rising global living standards and the shift to cleaner forms of energy drives demand for raw materials, according to Ivan Glasenberg, the billionaire boss of Glencore. For more than a decade miners have looked to China, ploughing billions of dollars into new projects and deals to feed the country’s seemingly insatiable appetite for commodities. But a shift towards consumer-led growth in China has raised concerns among investors about the growth prospects for the mining sector. Speaking at an investor conference in Barcelona, Mr Glasenberg said urbanisation in Africa and parts of Asia along with the energy transition meant the industry had a bright future. “Our industry can transcend China’s journey to a consumption-led economy,” he said. “The future need for the commodities we produce is likely to be similar to the past — it is all about demographics.” He said lifting global living standards to developed world levels by 2050 will require an extra 428m tonnes of copper by 2050 — around two-and-half times the current global stock. The electrification of transport will also spur metal demand with an extra 3m tonnes of copper a year needed by 2030, as well as 2.3m tonnes of nickel and 263,000 tonnes of cobalt. “By 2030 . . . EV demand is equivalent to almost double total new supply from all probable [copper] projects,” he said. However, Mr Glasenberg said growing mine supply was difficult because easy-to-develop, high-quality resources were running out. “Remaining resources are increasingly hard to mine and often complicated by challenging locations, lower grades, more complex mineralogy, poor infrastructure and sub scale size.” Glencore is one of the world’s biggest producers of copper, nickel and cobalt. It is also a major supplier of thermal coal, a fossil fuel that is burnt in power stations to generate electricity.