Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
On the 3rd November 2023 the company confirmed the sale of Jet East for $131m. Subsequent to that news shareholders have heard nothing as to how the company intends to proceed particularly on the return of cash to holders rumoured to be c.55p per share.
Usually a company will stipulate that those on the register at such and such a date will be entitled to the cash return. I would have thought on the 3rd Nov RNS the company would have said payment will be made to holders on the register (for arguments sake on 3rd Dec'23) will be entitled to any distribution of monies?
Assuming the company know what they are doing as a fractional owner of Gama I think holders are overdue an explanation as to why the delay and who exactly will be entitled to any disbursement. Will all shareholders be treated equally? Should all holders be treated equally given some may have subscribed at previous placings?
The Japanese mrkt is closed today and likely through until Thursday as the country assesses the damage from the earthquake that rocked central and the west coast of Japan on New Year's Day.
A tsunami warning was issued as waves 3 feet high swept inland. Around 100,000 residents have been urged to leave their homes and seek higher ground. Many people are trapped under collapsed buildings and thousands of homes are without power as roads and electricity pylons have been ripped apart.
The death toll has risen to 30 as rescuers face a battle against time to reach more trapped under collapsed buildings as aftershocks rock Japan's mainland.
Elsewhere in Asia Hong Kong is down 250 points at lunch while others in the region and across Pacifica are all lower. Shares in Sydney buck the trend closing at 7626 just short of the all time high (7633) boosted by strength in financials and banks. Gold is forecast to have a strong start to '24 on seasonal (tailwind) influences and has a 60% positive return in January.
Latest :- Vix 12. Brent $79.
Gold $2074. Copper $3•905.
Palm $935. Silver $24•265.
$1•273. €1•154.
FF +17. DF +83.
Morning all.
2023 close.
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Ftse 100 (7733) +4%
All Share (4232) +4%
Ftse 250 (19690) +4%
Small Cap (6425) +3%
All Aim index (763) -9
-----------------
DJ (37,690) +14%
SP (4770) +24%
NS (16,826) +54%
R2 (1318) +14%
--------------
TK (33,464) +28%
HK (17,040) -14%
SH (2973) -4%
SHZ (1838) -7%
SK (2655) +19%
TAIX (17,921) +27%
ASX (7578) +8%
---------
Brent ($77) -10%
Gold ($2062) +13%
Palm ($935) -9%
Copper ($3•891)
Silver ($24•025)
-------------
$1•273
€1•156
Yen 141
Yuan 7•08
--------
WTI ($71) -12%
10ytb (3•8%) u/c
MSCI(W) +18%
Gold Bugs +6%
Vix (12)
------
Final shortened week of the year saw MSi slip 10 to 850-900 on a reduced 37 trades but convincingly out paced the Ftse Aim All-Share Index which ended down 9%.
Wk 52
Trds 37
Vol 32,200
Buy 16,150
Sell 16,050
Aim -9%
-----------
DJ -21 (37,690)
SP -14 (4770)
NS -73 (16,826)
R2 -18 (1318)
WTI $71
10ytb 3•881%
-----------
MSCI(W) -8 (3169)
Gold Bugs -1 (243)
---------------
Close :- Vix 12. Brent $77.
Gold $2062. Copper $3•891.
Palm $935. Silver $24•025.
$1•273. €1•156.
Yen 141. Yuan 7•08
FF +6. DF -42
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NYSE data
Issues 2917
Advances 782
Declines 2057
U/c 78
T/vol(bn) 3•12
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BAE Systems rose 6•5p after a news report leaked the companies order book swelled by c.£7bn this year due to the ongoing ME /Ukraine crisis which has increased defence spending by UK companies.
The report revealed that BAE's
order backlog rose from £48•5bn to £55•5bn in 2022 and orders hit a record high £66bn in the first half of this year. The MSCI Global benchmark for the industry's stocks is up 25% over the past 12 months.
While news from Msi remains top secret we have had our successes in '23, though news on our current order book are not known suffice to say I expect to be hearing of new contract orders in 2024. Due to long lead times we need to be winning more business to keep the wheels turning.
It now looks unlikely my 900 (bid) prediction will be achieved but I'll settle for 870p giving me a healthy ROI. With much to look forward to in 2024 I'd be surprised if we don't have a 4 fig share price in H2.
6 months cash in kitty!
DJ +54 (37,710) Record
SP +2 (4783)
NS -8 (16,898)
R2 -4 (1336)
WTI $72
10ytb 3•843%
----------
MSCI(W) +2 (3178)
Gold Bugs -6 (245)
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Latest :- Vix 12. Brent $78.
Gold $2071. Copper $3•931.
Palm $932. Silver $24•130.
$1•277. €1•153.
FF +1. DF +30.
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Morning all.
The major averages spent the day bouncing around the u/c line in choppy trading. The Dow reached a new record closing high and the Nsdq and 500 ended the day at their best levels in 2 years. Oil prices slipped on reports shipping companies have resumed travel via the Red Sea and Suez canal. Gold was in demand rising to a 3 week high as dealers bet on early rate cuts in 2024.
-----------
Nyse data.
Issues 2922
Advances 1712
Declines 1107
U/c 103
T/vol(bn) 2•7
------------
DJ +111 (37,657)
SP +7 (4782)
NS +28 (16,907)
R2 +5 (1340)
WTI $74
10ytb 3•807%
-----------
MSCI(W) +13 (3176)
Gold Bugs +3 (251)
----------------
Latest :- Vix 12. Brent $80.
Gold $2085. Copper $3•958.
Palm $932. Silver $24•640.
$1•281. €1•153.
FF +23. DF +32.
Morning all.
Wall ended higher on a light trading day hitting its highest level since Jan 2022 boosted by int rate sensitive mega caps and chip stocks. The S&P is on track to post its bigest Q gain in 3 years and closing above 4797 would confirm the index has been on a bull run since the closing low (3586) reached in Oct 2022.
All 11 major indexes ended up helped by energy stocks reacting to crude prices as the Middle East strife caused supply concerns. Stocks in the news included Manchester United ($20•52) up 3% as billionaire Jim Ratcliffe bought a 25% stake in the club and will take over day to day operations. Bigest gainer of the day Gracell Bio ($9•85) flew up 60% after Astra Zeneca said it will buy the China based firm for $1•2bn. Intel ($50) topped the 30 leader board, Apple ($193) led the laggards.
-----------------------
NYSE data
Issues 2917
Advances 2086
Decliners 737
U/c 94
T/vol(bn) 2•5
-------------
DJ +159 (37,545)
SP +20 (4775)
NS +101 (16,878)
R2 +15 (1335)
WTI $75
10ytb 3•878%
-----------
MSCI(W) +10 (3163)
Gold Bugs u/c (248)
----------------
Latest :- Vix 13. Brent $81.
Gold $2066. Copper $3•921.
Palm $932. Silver $24•475.
$1•273. €1•153.
FF +44. DF +15.
Morning all.
UK Boxing Day (closed).
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Giving up some of the gains the previous 2 sessions the Nikkei managed a small up close of (52) points following the lack of any major influences from global mrkts over the Christmas period. Hong Kong remains closed. Shanghai trends lower on local factors with Kuala Lumpur and Singapore little changed. Other Pacifica's are either closed or lower through lack of interest.
------------------------
Wk 52
TK +52 (33,306)
HK (Holiday)
SH -281 (16,340)
SHZ -20 (2899)
SK +3 (2603)
TAIX +147 (17,752)
JSX (Holiday)
KLCI -2 (1452)
STI +4 (3144)
ASX (7502).
--------
Latest :- Vix 13. Brent $79.
Gold $2064. Copper $3•918.
Palm $932. Silver $24•650. WTI $74. 10ytb 3•889%
$1•271. €1•153.
FF +15. DF +94.
Morning all.
To all MSi holders wishing you a happy Christmas and a prosperous New Year.
A quiet end to the last full week before Xmas and the two and half days to the New Year. Volume was c.66,800 on c.128 deals buys outpacing sells by c.3•5:1. Mrkts reopen Tuesday, Jan 2.
Wk 51
MSi
870-900
Up 33%
------
Ytd
Ftse +3%
All +3%
250 +4%
Aim -9%
--------
DJ +13%
SP +24%
NS +53%
R2 +14%
--------
Gold +13%
Brent -8%
Palm -10%
---------
DJ -18 (37,386)
SP +8 (4755)
NS +20 (16,777)
R2 +6 (1320)
WTI $73
10ytb 3•897%
-----------
MSCI(W) +7 (3152)
Gold Bugs +2 (248)
---------------
Nyse data.
Issues 2925
Advances 1895
Declines 932
U/c 98
T/vol(bn) 3•0
------------
Close :- Vix 13. Brent 79.
Gold $2053. Copper $3•901.
Palm $932. Silver $24•470.
$1•269. €1•153.
Yen 142. Yuan 7•13.
FF -6. DF -44.
Morning all.
The Santa Rally is underway by one measure near recouping Wednesdays losses. MSi deals hit 121 on volume around 79,000. Buys outpacing sells 4•6:1. Shares ticked up 850-880.
DJ +322 (37,404)
SP +48 (4747)
NS +203 (16,757)
R2 +22 (1313)
WTI $74
10ytb 3•903
---------
MSCI(W) +23 (3145)
Gold Bugs +3 (246)
----------------
Latest :- Vix 14. Brent $80.
Gold $2047. Copper $3•921.
Palm $932. Silver $24•705.
$1•269. €1•153.
FF -12. DF -115.
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Nyse data :-
Issues 2921
Advances 2295
Declines 550
U/c 76
T/vol(bn) 3•4
-------------
All 3 major US indexes posted gains as chip stocks soared led by Micron Tech winning back much of yesterday's All Share losses. Data on Thursday showed US 3Q economic growth was not as strong as initially thought and cracks are appearing in a tight labour mrkt. Traders now await the Commerce Dept personal consumption expenditure nos due today which will cover income growth, consumer spend and inflation.
All 11 sectors of the S&P ended in positive territory led by Micron Tech ($86) up 9% as Q revs topped estimates. Electric car makers Lucid ($4) and Rivian ($24) were sought after a report suggested the US is considering tariff hikes on Chinese EV manufacturers.
However a storm is circling around Tesla ($255) as tens of thousands of customers told the company about a host of car'part failures (suspension collapses/Axles breaking) on low mileage cars. The Automaker sought to blame drivers for vehicle abuse but Tesla documents show it had tracked chronic flaws & failures going back 7 years. Neither Tesla or Musk responded to these reports.
Bigest mover on the day was Triumph Group ($16) which soared 33% on news it will sell its aftermarket business to AAR Corp for $727m. Topping the Dow 30 Intel & Amex & 2 also rans Apple ($195) & Cisco ($50) propping up the laggards. US listed shares of Blackberry ($4) tumbled 13% as Q4 nos landed below expectations.
Morning all.
You have made a 143% increase on your Gama shares and you should look at your holding in those terms and not the amount. So well done. Must admit I would have expected to have heard some news by now.
The company have said they intend to pay out not less than 55p dividend but to whom and when remains unknown. Unlikely they will go back on that assurance. Really no point in doing anything until holders are updated. I'm holding.
BAE Systems has won a 5 year contract to operate traffic control and landing systems for the US Navy. The deal worth £73m will also involve the company supporting the US Marine Corps and sea guard.
BAE said it was proud to have spent 30 years helping the US bolster their readiness. It follows an award earlier worth $8•8bn with the US Army. Shares were up 22p on the news.
Wall St ended at its worst level of the day the Dow off 476 after an abrupt late sell off ended an impressive Dec rally (1131 points). If previous form is anything to go by expect a bounce-back today.
Some market watchers said the sell off could have been triggered by large purchases of 'put options' on the S&P which convey the right to sell shares at a fixed price in the future. Nevertheless all 11 major indexes closed in the red for an overdue overbought correction.
Investors focused on some disappointing profit reports. Winnebago the motor home maker said they sold fewer units. Despite discounting the stock fell 6% to $71. General Mills the consumer food company succumbed to falling sales revenues slashed its full year guidance, shares off 2% to $65 and down 30% ytd.
FedEx continues its sell off down 12% yesterday to $249 as it missed 2Q nos hit by lower demand and companies shifting to cheaper services. Ytd the shares are up 42%.
Bucking the trend Google ($139) was up 3% in early trade thanks to a promising report on the companies Ai digital advertising strategy responsible for the majority of the divisions revenue which employs 30,000 people.
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NYSE data
Issues 2925
Advances 658
Declines 2198
U/c 69
T/vol(bn) 4•2
------------
DJ -476 (37,082)
SP -70 (4698)
NS -258 (16,554)
R2 -23 (1291)
WTI $74
10ytb 3•863%
-----------
MSCI(W) -32 (3122)
Gold Bugs -5 (242)
----------------
Latest :- Vix 13. Brent $79.
Gold $2036. Copper $3•895.
Palm $942. Silver $24•560.
$1•264. €1•154.
FF -40. DF +134.
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Morning all.
Stocks on the up outpace decliners by 4•46:1 (wk 51) to date. Shares down 40p.