The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
My problem is I don't have sufficient capital yet to have a separate pot for higher risk trading yet. Every £1000 means quite a bit to me right now. My average for FXPO is £1.78. I've spent about 7 years watching, predicting and trying to time when I'd buy and where I'd sell, even without holdings in the shares, just learning to limit the emotion of watching things fluctuate. Having confidence in my research, but cynical about any news. I initially had belief that Sirius Minerals was going to do well once they got finance in order, but through corruption in management they were bought out for a fraction of what I paid for it. Learnt quite a bit from that experience, that companies aren't there for the shareholders, they're there to benefit management, and are totally happy to screw over those that invested in the company. I've tried to stay clear of anything too speculative since. I like patterns, finding ways of predicting movements. Only concentrating on particular shares when they head towards predicted areas of patterns.
Good luck in other shares right now. I'm sticking to my least risky share for rises long term. I'm all for long term not short term trends. Too easy to get tied into emotional reactionary trading.
Will say some have had issues claiming back if they had shares in a sipp
you can do one claim a year, so it's best if you get multiple divs from here to get them all sorted at one time. Think you can go back 3 years in divs. So can claim 20 of those 35% back.
that's an old document, just found the first one i came across
Easiest calc from cents to pence is to just half. so 13.2c ~ 6.3p by your div which sounds right.
Did you forget that the swiss withholding tax of 35% taken off? Can claim some back but it's a nightmare to do i think.
Looks like 300 isn't out of the question by the end of the day...
Shorting shouldn't be much problem for FXPO as there's no shorts shown on short tracker since the start of last year. Definitely showed the weakness in some shares like FRES which went down 13%.
So happy my automatic trade from this morning went through at 278.2. Lets see if that was the bottom.
Wouldn't surprise me if there's news out of the US. Just more buying opportunities in my eyes. Just set up a buy order if it hits 277. :)
Some of the sales are under contract to places like Japan and EU, but any unaccounted for is sold at spot prices. So since industry slowed down in places they sold more at spot prices in H1 last year. It'll probably depend on when contracts are set up and how much they deviate. Just found this in last years half year results:
"Where pricing terms deviate from the index-based pricing model, derivative commodity contracts may be used to swap the pricing terms to the iron ore index price."
most of the issues came from 5 years ago when they almost went bankrupt since they had lots of cash holdings in a bank that went bust, a bank the lead shareholder Zhevago either owned or was a major party of. Since they moved all banking to Switzerland and Zhevago had to step back due to the government in ukraine unsuccessfully trying to taking him to court. Management primarily went to british soon after to gain some legitimacy back. Since Zhevago owns just over 50% it's not going to be bought out unless he's bought out first.
we're just all here waiting for the end of year report and q1 report with dividends too, because once people realise that the company might have upwards of £1b profit this year and we're sitting at £1.8b market cap and net positive on debt/cash...
Yeh pellet premiums are either added to 65% fines or 62% fines depending on what you're looking at. Ferrexpo used to sell 62% pellets which is why in the half year report they do the pellet premium over the 62% price. (that confused me for a bit) but is evident by how low the 65% pellet premium can get over the 65% fines price compared to their $30/t average over those 6 months. Just look in late october where it was $22/t.
tbh i'm under no illusion the prices will change for iron ore, but there's been supply disruptions on top of increased industrial activity in china, so prices have spiked considerably. the pellet premium can be as low at $10/t so that's boosting the company considerably right now on top of that. The production cost to FXPO was $40.9/t in H1 last year and doesn't usually change much. With all the other costs of business that's pushed up to around $86/t. If you look at where ore prices were last year we averaged $127/t roughly from revenue/production numbers. So at these prices we're sitting pretty happy right now. Oh and we're up to 12Mt production capacity now :)
65% Fines Seaborne and 65% pellet premium ticked, the rest not. You can look at the local ports i think if you want too.
Very easy to copy and paste from the table into a spreadsheet and work out the average price over the month, though i'll need to keep up with it every few months. Obviously it's not going to be exactly what they're getting, but it'll likely give you a good idea.
Can go back a couple of months on there, but since flash player doesn't work anymore you won't be able to go back beyond the end of october now.
so the 65% pellet premium is added to the 65% fines price. Company only produces 65% pellets now with some 67% pellets too