Member Info for LivintheDream

Glen lagging behind other miners due to poor Q1 copper production(-30%) and Q2 only being marginally better. GLEN maintaining yearly guidance numbers, but Mr Market needs to see a large upturn in Q3 and Q4 numbers to restore confidence in current management. Can't see us pass £3.80 until good productions numbers are achieved, association with coal and $12B+ in debt ain't helping either.

Still, good news on the Aussue government bailing out the mount Isa copper smelter operation.

My target price is £16... (and the divi will be decent at that price) if it gets that low! not so much a falling knife, more a falling chainsaw.

Always difficult to nail it at the bottom, as a value investor, I allow 3 x tranches to get the best price, but doesn't always work out.

Each new low draws in more speculative buyers, I am not invested here yet, but the temptation is increasing.....but not yet compelling.....the cultural change in drinking habits due to cost, health awareness, etc will limit any eventual rise in the SP, just not sure where the spark will come from for the increase in demand/profits...still on the sidelines paiently waiting.

Very interesting day with the AAL & TECK merger. This takes out 2 x potential takeover (copper ) targets from a very limited pool of targets.

Next one up could be GLEN with RIO / BHP to make a move, who blinks first? Do we think this is why the SP has risen today? speculative buying.....

At some point GLEN will have to put the shovel in the ground in Argentina, and with no existing mining infrastructure to utilise, it's gonna be very expensive....and unlikely they would finance this 100% themselves....there's copper in them there hills!!!! I'm sure others will be interested to help.

Merger just been confirmed with AAL shareholders recieving a special dividend of $4.19 per share.

Merger to be approved and be complete in next 12 to 18 months.

Sussex, good find that but i am suprised given the levels of AAL debt (but with disposals pending) and that TECK fought off a hostile bid from GLEN less than 2 years ago. TECK do have some excellent copper mines.....see what happen to SP on opening

Assuming GLEN turnaround production volumes to +30% on the lower H1 volumes (which were sold at the higher prices), they can only sell the expected increase copper volumes at today copper prices, which is approx 30% less than the H1 prices, net result....No Gain..

Well, an underwhelming set of numbers with net debt now at $14.5billion, due to lower copper production volumes, lower coal prices and stockpiling of cobalt. They're expecting a much improved H2 with "a meaningful reduction in net debt".....we'll see.

GLEN do seem to have been caught out on the decision the re-optimise copper production giving temporary lower volumes during the recent high price period....the purchase of the EVR asset, whilst profitable, is not producing the revenue expected, hence increase in net debt, i'm expecting to be back under £3 today...

I'll try again........ debt reduced to less than $7billion would be a good start

Debt reduced to

Copper down, GLEN up....I'm optimistic for a decent RNS Thursday, Debt reduced to

Outo, good point, but still in for a rough ride tomorrow, but long term GLEN looking good...

US copper miner Freeport McRoRan was down 9.4% at the close on the NYSE, I am expecting similar tomorrow for the UK miners, unless copper picks up in early trading.

A mixed bag, and generally positive apart from Copper production down 26% on 2024 H1 due to lower grades. The marketing division have raised the EBIT range up to $3.5b. Also $1b of efficiency savings to be realised by end of 2026. Full year guidence is maintained.

Not sure how this will open this morning given the lower copper numbers than last year

Q2 production report tomorrow.....the market clearly isn't expecting good numbers based on the SP fall today (with copper and coal prices up).

After the Q1 bombshell with a 30% drop in copper, GLEN needs to deliver some good numbers to build back the trust with investors, they haven't delivered a positive production/financial update for a few years....always seems to be bad news dressed up as good news...we'll see tomorrow at 7.0 a.m

I'm all for special dividends, but not when debt is $11b as per last results. I'd like to see it reduced to $5b before divis are increased. Q2 copper numbers gotta be much improved than Q1 to maintain annual guidance. Not long now.

It will be interesting to see what the numbers are on the next production update are and if guidance numbers are maintained. The 30% drop in copper for the 1st quarter was supposed to be offset in H2 (the copper production split was 42% for H1 and 58% H2).....we'll see....

also, in the 2025 Financial statement, it was stated "additional returns to shareholders", but this was never stated as dividends/ROC or Buybacks, which may be the current 2nd buyback program.....but with debt ballooning to circa $11B in 2025, I would like to see the debt reduced to sub $5B, but with lower than expected copper production in H1, low coal prices and the new buyback program, this may take another year or so.

Trump trying to secure Rare earth/future facing metals, but china has already secured them all (or at least the ones they want). What happened to drill baby drill (for oil), now it's dig baby dig for precious metals?

After the sharp 12 month rise in gold, maybe now it's the turn of copper to feel the love.

Based on todays SP, the upcoming buyback will take another 2% from the 11.9Billion share count improving the divi per share and EPS.

More good news, Another $1billion buyback programme announced starting 7th July.

I know buybacks are not wholly popular with shareholders, but at these levels and anything sub £3.80, I think they are good value to long term shareholders.