Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
That is not exactly what Bloomberg said. A listing there is being investigated….would be more accurate.
That would suggest BANNED?
President Macron says "France has been alongside Ukraine since day one", adding that it "must resist and win".
Macron, Olaf Scholz and Mario Draghi aim to counter criticisms of their support and offer help - "financial and humanitarian, but also... weapons".
https://www.bbc.com/news/live/world-europe-61792068
https://www.reuters.com/business/inflation-war-risks-buoy-gold-short-term-2022-05-03/
It’s a month old article but a good read, based on market consensus views.
Just read that article also….very interesting. I’d pretty much agree with the article and will be interesting tomorrow to see what spin Putin puts on events…
For any who are interested in the historical context or Putin and Russia.... I can recommend the following book:
Putin's Wars: The Rise of Russia's New Imperialism (2014)
By: Marcel H. Van Herpen
This book offers the first systematic analysis of Putin's two wars, placing the Second Chechen War and the War with Georgia of 2008 in their broader historical contexts....
latpulldown,
Many thanks for the very detailed and thoughtful post, much appreciated.
You have a strong argument there for sure. My overriding concern is the "Putin factor". If we were dealing with a democratic body politic then the weight against Russia would be overwhelming. But we have a highly authoritarian figure, who is effectively a law unto himself. Thus I cannot see him backing down. Normal rules do not apply to him (or so he thinks), hence why I think we have a way to go yet.
That said....I absolutely hope that you are correct and a deal is done soon.
Fingers crossed and time will tell.
ATB
Matchu
I don’t agree that the $33b of potential additional aid will bring a peace deal closer. I do not see Putin showing any weakness with the escalation. I see this going on for months more….
Roxy and the OP…..I made a post yesterday (look at my post history) which IMHO are part of the reason why the SP is subdued and likely to move lower still.
Bottom line is the SP recovery is dependant on peace or the potential company split, with the latter to be updated by the BOD in July. So until either or….there is no catalyst for a substantial upward movement.
Mjc…yea the presentation overall today was good and reassuring. There were a few issues discussed which I suspect hindered the SP today and will result in further volatility.
- Cost increases driven by inflation affecting the company (30% in Kaz)
- supply chain cost increases and hugely increased delivery times as a consequence of the sanctions. Though in the short term the company is fine for parts and consumables, there is a risk that the longer the sanctions remain the more at risk of shortage of parts the company will be.
- Debt repayments/roll forward for 2023. This could be a problem given the capital constraints as a consequence of the sanctions. With the risk of further sanctions.
- Negative cash flow until the on of the first half. If there are further sanctions leading to even higher cost increases or reduced ability to sell product (as discussed on silver) there may be further cash flow headwinds in the second half.
The bottom line is the war. There are impacts on the business. They are currently manageable. But the longer the war continues there will be more damage to the company.
That said, I was encouraged by the conversations on the company split. It is clearly a live agenda item for the company and imo looks like a great way to unlock the value for the shareholders. On this July was mentioned for discussing the progress on this topic and I suspect the SP will be volatile till then…..
Apologies in advance for any errors above….I didn’t take notes to ensure 100% accuracy.
The share price is hopping all over the place….went from positive…to down 5%…to up 5% in minutes…volatile day to say the least!
Fair do’s Tonn…those issues probably are holding the price back this morning. I also wonder if the market is awaiting the details from the investors day before any larger move.
Boris did also say today that the war could go on till the end of next year… Not that I’d believe a word he said…
“I dont do ramping or deramping. I just post what is happening and have the ability of critical thinking.“ Wow Panda…nice to see I’m not the only one…..
I agree with you Jeremy on the split. For me that has great value for shareholders.
Without this I also see the SP heading south until there is some peace deal…and I do not see a peace deal in the next couple of months. I am also concerned that for sanctions to be lifted on Russia will be problematic, as this will likely be dependent on reparations to Ukraine….which I cannot easily see how Putin would accept.
interesting Big Blue.....kinda felt that is how the day panned out...
Good day....disappointing close though. At least it broke the recent downward movement.
https://www.bbc.com/news/business-61164894
Germany banning Russian oil by EOY.
The war is real, sanctions are real…the West is decoupling from Russia….
I think he has it fixed now.
You too :-)