Member Info for LivintheDream

Last night at 11.0pm, my wife saw a post from a friend stating that stealth jets were taking off from a nearby US airbase destined for Iran, I said its nonsense, and went back to sleep.... Strange how fast sensitive news/ intelligence (true and false) travels, and some random bloke half asleep is being told of news potentially changing the world before the planes had left US airspace. Anyway, time to sell my small BP holding tomorrow, purchased on liberation day, even GLEN have outperformed BP since that day.

At 11.0pm last night, my wife commented that a friend posted on Facebook that a number of stealth jets had taken off from a US airbase near where they live, destined for Iran. My reply was, nonsense and went back to sleep. Still, looking forward to the rise tomorrow morning and then I'll sell.

Every dog has its day, including mongrels!!!

II & Hargreaves have paid out, nothing from Halifax (having checked income and dividend history as It should be classed as a ROC, return of capital),

Question, if GLEN merged with RIO,and RIO was still listed in London, then what would change?

We have GLEN moaning about a suppressed share price and seeking an alternative listing to improve the share price, but try improving on production targets, instead of missing them. Long term I am positive on GLEN, short term, they have put themselves under pressure with a 30% shortfall on Q1 copper production target, any flooding, strike power cuts, industrial accidents during the rest of the year will result in missed targets/lower earnings and keep the SP suppressed.

Still, the buybacks at this low SP level are good news for long term investors.

Coffee, interesting article you posted on the potential merger and i read a similar artcle on reuters. The stars could be aligning here for the merger or maybe a coincidence. Personally, I'm quite prepared to be patient for the sp to recover without a merger, but the scramble to be top dog of the miners maybe difficult to resist for both RIO & GLEN.

Received my cheque from equiniti today.

I accepted the offer by post in 2nd week of April.

Added a few more at 2.40, ex divi tomorrow, so how much will it drop?

Could be rough today based on Q1 copper numbers. Production guidance is maintained with a significant increase in copper production throughout the year, but they're now playing catch-up for the remainder of the year. Last year did see copper production ramp up in H2 to meet guidance, but 30% lower in Q1 will be the headline.

Just added 2k more to the pot, can't be far from the bottom now, see where it goes when the dow opens.

Right then, where is glen gonna go on today, copper down a smidge, coal up 5%....place your bets....

Earlier drop this afternoon due to news GLEN is cutting coal production to try and lift coal prices.

Hi Fogg, GLEN have never stated specifically the EVR breakeven costs, but on the most recent annual production report, GLEN state a unit cost for steelmaking coal of $115.6t, and this based on 12.5mt from EVR and 7.5mt other.

Current selling price is approx $200t (20% less than about 6 months).

With thermal coal being gradually wound down, I would expect steelmaking coal to be similar production volumes soon.

Whilst I was disappointed at the large increase in debt and large loss posted for yr24, it would appear that this was mostly due to the EVR purchase closed out in July 24.

At least the current high copper prices will translate into revenue/profits in the next Aug statement, so hopefully we'll post a profit and not a loss this time.

Fogg, on your point 2, we don't know if Glen overpaid for EVR, and won't know until a few years down the line depending on profit/loss generated by the asset & level of debt associated with the EVR purchase, etc.

But we can compare the price Glen paid for EVR against the recently purchased price for the AAL steelmaking assets.

AAL asset sold for $4.9B. In yr2024, production of 14.5mt generated $0.92 EBITA (so 5 yrs payback less OPEX)

EVR (77%) asset sold for $6.93B. In yr24, production of 25mt generated $2.5B EBITA (based on 6 months production for GLEN, and doubled to get the estimated yearly amount), so is less than 3 yrs payback less OPEX)

On these numbers, GLEN got a better deal than the new owners of the AAL assets, but only time will tell if it was a good/bad deal for shareholders.

Fir clarity, the $6.9B EVR purchase was for steel making coal, not Thermal coal. This asset, based on last years numbers, will generate $2.5B EBITA.

Operationally, the company is in good shape, at somepoint the value will be too compelling to ignore, but not even the ususal daytraders are touching this now.

Dark knight, thanks for summary. Various numbers get thrown around but I am assuming that the 12% steelmaking coal number will increase next year as the EVR (steelmaking coal) aquisiton was completed on 7th July.

for 2025, steelmaking coal should increase from 19.9mt (EVR was 12.5mt and other was 7.5mt) to 32.5mt (EVR 25mt and other 7.5mt). GLEN have stated Thermal coal is gradually being wound down, but the increase in debt is also a drag on the sp, but it still should be higher than £3.10

I don't think the market expects copper to remain at these high prices too long, and the prices is artificially elevated due to tariff chat, other copper miners haven't tracked copper either, but we all know Glen is suppressed due to coal prices. If copper prices fall back, it could get ugly here, but buybacks are supporting the sp for now.

At least the higher copper prices now will translate into higher earnings/profits in the financials in August, but coal will probably offset any gain

If only that sniper 6 months ago had been a better shot, the world would have been a safer place.

Only the US can offer 2 x presidental candidates where one should be in prison and the other in a care home.....God help us

Amazing turnaround and now debt free

Douvrey, thanks for you comments on the II chart. Due to the amount of variables disturbing the market, Trump, War, geopolitics, buybacks, surely these things would change the outlook on the company share-price (for better/worse), but as I said earlier, I don't know how to read charts, but between £2.11 and £5.58, i think ii have just about covered the SP movements with this range...