Member Info for Davidgeorge

"which reduced Net funding and Net DEBT to $28.0 billion and $2.3 billion respectively"

Chaps, this is simply a matter of understanding the grammar of the sentence. The word "respectively" is designed to order the meaning of the sentence thus: the first given figure ($28bn) refers to the first subject (Net funding) and the second figure($2,3bn) refers to the second subject (Net Debt).

Daytrade, a nice rise again today - along with other miners. Record highs again. Potentially dangerous territory obviously.
Does anyone have thoughts on why the Investor Call tomorrow could move the SP up even more? These things can often be a damp squib especially if too much expectation is built in...

On the basis of what Living has spotted about Copper and Dow just going up and coal going up and I see FTSE100 futures are up I would expect , in the absence of something nasty overnight, our GLENDA to move towards the 570's towards lunchtime tomorrow.

No worries QZQZ. Google is very good but its easy to google an old article. I recall that in 2015 Glenda was in debt to the tune of around $50bn. As the market cap of the company was only about 10/£15bn, she was basically owned by the banks who lent her this money. In other words, she was worth less than nothing - and therefore so were the shares. Ivan, God bless him, saved the company from almost certain death. The shares were at 65 p. He managed to re-negotiate the debt terms. He saved the company and the shareholders from total oblivion. Nobody said Ivan was Mr Perfect. But for this single act he deserved a medal.
The turnaround since then has been one of the most extraordinary stories of FTSE100 companies

QzQz I think the debt is now only £2bn, at least according to the last half year results

can someone explain why it's gone up today and yesterday? It's now record high. It's very nice for those of us who are holding and are long but it would be good to understand just a little...I know coal and copper are going up is that the reason?

564.50 It's actually quite hard to believe what we are seeing this week. It's not that long ago that she was 440 (1 Sept) and 400 (July 5). Despite all the v bad background macro news, Glenda appears to be motoring onwards and upwards. Surely this can't continue? I would be very grateful for your thoughts on why December 6 could be even better news.

Nice Rise - Again. Could she reach 570 by Week's end?

an all time high?

Yeah, Evi thanks for that. $1.1bn extra in the bank probably explains the nice rise.
It's really impressive given the wider economic picture being so gloomy. And the coal and copper prices having fallen over recent weeks. Despite all that she is doing well.
GLEN does appear to be a very strong company now - little debt and generating loads of cash. Obviously there will be bouts of bad news but fingers crossed its looking ok in the run up to Christmas...

Great jump up this morning. Top of the FTSE100 leader board - again

Billy is of course technically correct. The current GLEN was listed on LSE after the merger of Xstrata and Glencore in 2011. Xstrata shareholders like me had their shares automatically converted to Glencore shares. So I regard this as basically the same shareholding as with Xstrata - pre- GLEN. Glencore was listed on the LSE in 2011. Xstrata was listed in 2002. Those of us who were in Xstrata before the merger have fond memories of those days and we look forward to a bright future now. I'm in my mid 40's as I started investing in my late teens.

SP up 1.5% today while the FTSE is down. So long as there is no bad news this week she could creep towards the 530's again by week's end. To be honest even were she to lose 20-30% on some unexpected bad news the prospect of really very very large divi in April should ameliorate most of our fears and worries.
I've been in Glen for more than 17 years - since she was Xstrata. It's been a very long wait but I really do think those of us who are long not short will be well rewarded. Just my opinion tho.

Living, They are saying the ordinary divi (interim and final) will add up to 51 cents. That is twice the divi of 26 cents paid out this year (but for 2021). They are not saying this...but on top of that there might also be a special dividend as there was this year (11 cents). That would be 62 cents a share. Say u have 10,000shares that's $6,200; if you have 100,000 shares that is an incredible $62,000. These are really huge sums....difficult to believe the divi in April 2023 could be more than double what we have just been paid. Normally mainly failing companies pay huge divis. Hard to believe but could this actually happen? We are all made if it does......

Berenberg brokers say GLEN looking good

As if on cue, analysts at Berenberg weighed in with comments summarising their view of the outlook on the back of the Financial Times' Mining Summit and the various events linked to the London Metal Exchange's LME week held over the prior weeks.

To sum up, the near-term outlook was "challenging" from a supply/demand perspective due to global recessionary concerns, they said.

Berenberg highlighted StanChart boss Bill Winter's remarks at the FT summit, where he said he expected Beijing to enact fiscal stimulus which he hoped would compensate weakness in the US and Europe - otherwise we faced a broader global downturn.

Longer-term nonetheless, the broker was upbeat on demand for sector due to its critical role in the energy transition.

Which were the companies they believed might outperform within that context? Glencore, Ecora, Jubilee Metals, Capital Limited, Yellow Cake and Kenmare Resources.

As an aside, just the day before, the FT had reported on talks between Tesla and Glencore, which had begun in 2021, by which the carmaker might take out a 10-20% stake in the latter, which mined cobalt and traded lithium - although no deal was finally reached.

Of possible interest in the case of Anglo American, in the same research note, the broker noted forecasts from Trafigura according to which copper inventories currently at approximately 4.9 days were expected to decline to 2.7 days by year-end.

Billy got his 535..Early Christmas!!

wow, why the jump?

closing in Billy... 532.5 and counting!!!!

529.60 She's creeping upwards!!!

On 23 March 2020 GLEN was 113. Can u believe how she has recovered? Miraculous