Member Info for GoroMajima

It seems like the market liked that the Teck merge has been cancelled. Glen has outperformed the other top miners today. Hopefully now a nice little rise leading to the ex-divend date. I'm holding for 530p

Agreed Ripley, keep posting these. It's nice to see people making money and there thoughts as well.

At this point I feel Glen should withdraw their offer. Seeing statements like "Canada is not for sale" isn't the right sentiment to be proceeding into, it's business not international politics/ foreign policy. Walk away imo.

LoveLosses,

Teck is already an established miner for coal, copper etc and is seen as complimentary to Glencores main interests. Glen wants to acquire it and merge all of their collective metals business into one entity and also combine the coal side of things into a new business. It ticks multiple boxes of separating coal which is seen negatively these days and also makes the metals business much larger, more production/market share etc.

I can't remember who posted that the 50 and 200 day averages had crossed for a 'golden cross'. It certainly looks more promising recently. It's not worth much but I'm optimistic this may reach previous highs seen earlier in the year again. Looks pretty stable heading to the ex-divend date.

I believe it will soon Ade, when the proposed deal is confirmed to be going ahead or not. It seems to be performing well in comparison to the rest of the FTSE recently

If I were in Tecks position I wouldn't sell/merge based on those revenues. Similarly I probably wouldn't be in favour if I were in Glens position. It can probably be beneficial to both but seems like a sideways step imo.

I feel like a deal could be good for Glen if the new coal company can generate a decent income and make the metals side more appealing for investment. But $22+ billion seems an awful lot to recoup. I'll be glad when it's confirmed either yes or no.

Ignore me I just did a little digging.

The golden cross occurs when the 50-day moving average of a stock crosses above its 200-day moving average. The golden cross, in direct contrast to the cross of death, is a strong bullish market signal, indicating the start of a long-term uptrend.

Hi Midway,

Would you be able to explain the significance of clearing the 50ma and potentially 200ma? What it means potentially etc Thanks

Unfortunately the way the stock market works I'm expecting this to completely tank or rocket upwards if the vote to merge is not in favour or it's approved respectively.

Great post. It sounds like this is unlikely to go away at the first attempt. I'd expect round 2 to be in discussions already.

The merger would certainly make the metals company strong and remove the coal aspect which was seen as somewhat of a liability with prices dropping.

Teck could be a good buy if they have mining locations lined up and supplies that are already profitable, let's say if those boxes are ticked medium-long term. It tightens up the market which could inflate prices as well. A special dividend would be a good choice as well to get people invested.

Weren't there rumours of Glen being bought around a year ago by Tesla / Elon Musk? I wonder what came of that and if it's still a small possibility.

Dreaded death cross......
Is a Death Cross a Good Time to Buy?
A death cross signals a bearish market or asset and can be a good time to buy. Many investors purchase assets when the value of those assets has dropped, but with the expectation that the value will go up again in the future, based on their analysis. There can be many reasons why an asset drops in price, however, that doesn't necessarily signal a weak asset, but possibly a weak environment. Once the environment corrects, an asset can go up in value. If you manage to buy it on a dip, then you may see a return on your investment.

Also puzzled to what's causing this. It seemed to be going in the right direction recently and the FTSE 100 is regaining some strength. Maybe there's some news waiting to come. Saying that Glen has gone from red to green in the same day many times.

It would be nice to see this recovery continue up to the interim ex-divend date on the 4th May. The 22c per share payout is roughly 4.6% of today's share price value.

Eviking**

Very positive couple of days. Maybe another tomorrow thanks for that evoking.

Thanks Ade that's interesting. I'll have a look now on a larger screen for some of these in the past.