Member Info for Dixie33

Https://www.proactiveinvestors.co.uk/companies/news/1070732/shell-s-quiet-calculus-why-a-bp-takeover-is-tempting-but-not-inevitable-1070732.html

Https://www.investormeetcompany.com/meetings/investor-presentation-826

https://youtu.be/E9DUkQIQxXU

Can't read the article without subscription.....

In fact I found this on the Zues half year 2024 report -

"Expect progression of FEED, going into Phase 2 FID in mid-2025, and first gas sales from Phase 2 in

mid-2027".

Thanks Ducati.

During the 18th December investor presentation, Gary Dempster referred to building on phase 1 finances with phase 2 finances, in mid 2027 (assume he meant phase 2 gas sales being in Mid 2027.)The Zues April 10th report say's first gas sales from Phase 2 in early 2028. It's only been 4 months since Gary's comments and already we're talking about 6-9 months slippage!!

Thank you

Ediacaran: Where did you see the revised Zues 4.1p evaluation? Sound web site still showing March 17th report at 3.9P

Thank you H88. Do you know how much each share may be worth??

I notice this paragraph in Tuesday's RNS.

"As a result of the proposed demerger, c.51% of the issued share capital of AAP will be distributed to Anglo American shareholders who will each receive 110 AAP shares for every 1,075 Anglo American shares that they hold."

Does this mean you have to actually hold more than 1,075 shares to qualify or are these numbers to be used to calculate the % of shares you will receive for the shares you hold i.e 10.238%?

Thank you

Sound Energy (AIM: SOU), the transition energy company, announces that Mohammed Seghiri, the Company's Chief Operating Officer, has resigned as a director of the Company with immediate effect and will leave the full-time employment of the Group by mutual agreement on 31st March 2025.

Following the completion of the Group's sale of Sound Energy Morocco East Limited to Managem SA ("Managem"), Mr. Seghiri will be taking up full time employment with Managem - in doing so supporting the uninterrupted transition of the operatorship of the Tendrara Production Concession in which Sound Energy retains a 20.0% working interest and the Exploration licences where Arran Energy Holdings a Sound subsidiary holds 27.5%.

Graham Lyon, Executive Chairman of Sound Energy, commented:

Sound would like to thank Mohammed for his 8 years of service with Sound. He has achieved significant success in taking the Tendrara discovery through development and now, with Managem, to production later this year. A very notable achievement. We are pleased he remains with the Tendrara activities and look forward to continuing our close co-operation.

Anglo American's fourth quarter production report for 2024 shows a mixed performance across its operations. Key highlights include:

Copper: Produced 198 kt, a 14% decrease YoY, influenced by the shutdown at Los Bronces and lower grades at Collahuasi. Total production for the year was 773 kt, meeting full-year guidance.

Iron Ore: Production increased by 4% YoY to 14.3 Mt; total output for the year was 60.8 Mt, slightly above guidance.

Platinum Group Metals (PGMs): Output dropped 6% YoY to 876 koz. Yearly total was 3,553 koz, missing guidance.

Diamonds: Production fell 26% YoY to 5.8 Mct, reflecting weak market demand. Full-year output was 24.7 Mct, also below expectations.

Steelmaking Coal: Saw a significant 49% drop in production to 2.4 Mt due to fire incidents. Annual production totaled 14.5 Mt, below last year’s figures.

Nickel: Declined 10% QoQ to 10.0 kt, with total production of 39.4 kt for the year, slightly below guidance.

Manganese: Production decreased by 12% YoY to 742 kt, influenced by operational suspensions following flooding.

Production guidance for 2025 remains unchanged for many minerals, but has been lowered for steelmaking coal to 10-12 Mt. The company emphasizes ongoing operational improvements and portfolio simplifications.

This doesn't make very good reading, excuses include - shutdowns, flood, fire, lower grades, output dropped missing guidance, weak market demand, below expectations, operational suspensions. Very poor management should be added to this list. The same management who strangely and hurriedly started to simplify the portfolio when BHP came knocking to try and take over with a similar plan. How I wish they'd succeeded!!

Vodafone Group Plc has announced a €480 million share buyback programme to commence. They have instructed Goldman Sachs International to purchase Ordinary Shares and sell them to Vodafone. The purpose is to reduce share capital, with acquired shares either cancelled or allocated to employee share awards.

7.42 into the podcast

GL - "And take advantage of perhaps people that are not in such a strong position as SOUND."

Sounds as though he's looking at takeover/merger opportunities already with about $13m burning a hole in his back pocket!

Aviva dropped into the red from about £4.88 down to £4.79 about -2% at the same time. lasted about 15-20 secs and I quickly looked to see if an RNS or bit of news had come out but nothing!!

The UK's Competition and Markets Authority has approved the merger of Vodafone and Three, aiming to create a stronger mobile network that will foster competition and investment in the telecom sector. The merged entity will undertake an £11 billion investment to develop an advanced 5G network, benefiting over 50 million customers and improving connectivity across the country. Vodafone will own 51% of the new company, with the merger expected to complete in the first half of 2025.

Analysts at Berenberg reckon the saga surrounding a possible Direct Line Insurance Group PLC (LSE:DLG) takeover has a few more chapters left.

The motor and home insurer confirmed last week that it had turned down a bid tabled by Aviva PLC (LSE:AV.), saying it was "highly opportunistic and substantially undervalued the company".

FTSE 100-listed Aviva’s offer valued Direct Line at 250p per share.

It was the second bidder that Direct Line has rebuffed this year, having rejected Belgian giant Ageas earlier in March.

According to Berenberg, Aviva could up its proposal to 275p per share, a 76% premium to the undisturbed share price.

This would value Direct Line at 10.2 times its projected 2026 earnings.

Berenberg analysts noted that Aviva could support a higher bid by reducing its group liquidity to £1 billion, suspending its share buyback for 2025, and modestly increasing leverage.

Berenberg also raised the prospect of a possible counteroffer from Ageas, which could revisit the Direct Line acquisition after its original bid was withdrawn earlier this year.

Ageas could table an offer of 265p per share, said analysts.

However, they said that Ageas's strategic synergies with Direct Line are less compelling than those Aviva could achieve, given Aviva's dominant UK market position in motor and home insurance.

As it stands, Berenberg has a 270p price target on Direct Line shares against a current spot price of 230p.

Analysts at Berenberg reckon the saga surrounding a possible Direct Line Insurance Group PLC (LSE:DLG) takeover has a few more chapters left.

The motor and home insurer confirmed last week that it had turned down a bid tabled by Aviva PLC (LSE:AV.), saying it was "highly opportunistic and substantially undervalued the company".

FTSE 100-listed Aviva’s offer valued Direct Line at 250p per share.

It was the second bidder that Direct Line has rebuffed this year, having rejected Belgian giant Ageas earlier in March.

According to Berenberg, Aviva could up its proposal to 275p per share, a 76% premium to the undisturbed share price.

This would value Direct Line at 10.2 times its projected 2026 earnings.

Berenberg analysts noted that Aviva could support a higher bid by reducing its group liquidity to £1 billion, suspending its share buyback for 2025, and modestly increasing leverage.

Berenberg also raised the prospect of a possible counteroffer from Ageas, which could revisit the Direct Line acquisition after its original bid was withdrawn earlier this year.

Ageas could table an offer of 265p per share, said analysts.

However, they said that Ageas's strategic synergies with Direct Line are less compelling than those Aviva could achieve, given Aviva's dominant UK market position in motor and home insurance.

As it stands, Berenberg has a 270p price target on Direct Line shares against a current spot price of 230p.

Anglo American to generate up to US$4.9 billion of total cash proceeds from sale of steelmaking coal business: agrees sale of remaining steelmaking coal portfolio to Peabody Energy for up to US$3.8 billion

Anglo American announces that it has now entered into definitive agreements to sell the entirety of its steelmaking coal business, to generate up to US$4.9 billion in aggregate gross cash proceeds, including the already announced sale of Anglo American's interest in Jellinbah for approximately US$1.1 billion.

Announced today, Anglo American has agreed to sell its portfolio of steelmaking coal mines that it operates in Australia ("Steelmaking Coal Portfolio") to Peabody Energy ("Peabody") for a cash consideration of up to US$3.775 billion ("the Transaction").

Peabody's agreed cash consideration of up to US$3.775 billion comprises an upfront cash consideration of US$2.05 billion at completion; deferred cash consideration of US$725 million; the potential for up to US$550 million in a price-linked earnout; and contingent cash consideration of US$450 million linked to the reopening of the Grosvenor mine.

Any idea what II charges are for buying/selling on ASX ??

BHP Group Ltd (LSE:BHP, ASX:BHP) has quickly backtracked on comments yesterday from its chairman that it had ‘moved on’ from its failed bid for Anglo American.

Most sources reported this as meaning it was no longer interested in making another bid for its mining peer, but apparently this is not the case.

In a statement this morning, the Australian miner said “BHP clarifies that these comments were not intended to be a statement to which Rule 2.8 of the UK City Code applies.

“The UK Takeover Panel Executive has confirmed that the comments made will not be treated as a statement of intention not to make an offer in respect of Anglo American for the purposes of Rule 2.8 of the UK Code.”

BHP dropped its bid for Anglo on 29 May, meaning it cannot make another offer until the end of November under City rules which bar a lapsed bidder from making another move for six months.

Shares in Anglo rose by 1.3% today to 2,417p.