Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
From this mornings Wall Street Journal - just the opening paras.
“US steel companies are ramping up investments in new mills and side businesses, brushing aside signs of weakness in the broader economy as executives cited strengthening demand from customers in the auto and construction sectors.
Major steel companies this past week turned in quarterly results that were mostly better than expected, after steel prices rose sharply in spring because of the war in Ukraine. While prices have retreated in recent weeks, steel executives said demand isn’t deteriorating.
“Right now, in our order book, we don’t see it,” said Mark Millett, chief executive of Steel Dynamics Inc.
Steel Dynamics and Nucor Corp. are major suppliers of steel to the construction sector, where projects such as warehouses, data centers and other commercial buildings have been driving demand for more steel. The sector also is expected to get a further boost from increased federal spending on infrastructure projects like roads and bridges.
“Nonresidential construction has been one of our most resilient markets,” said Al Behr, Nucor’s vice president of plate and structural products. “We would expect that to continue in 2023.” “
No problems with HL buying large amounts at 1.86. Did take a couple of goes though.
Of course we want peace in Ukraine, but all these new posters coming on here ranting about the ethics of investing in Russia are hypocrites.
We all buy stuff made in China (including electronics and car batteries) containing rare earths processed there, and that’s a country that is bent on ethnic cleansing of Uighurs and repression of the general population.
EUA mines and their workers are innocent pawns in all this.
hungryheart - well said. For once, I’m in favour of the board not releasing anything about the sale. Now is not the time and we need to keep under the radar. There was always risk attached to investing in a Russian mining stock. But even the Russian’s Rosneft (ten percent owned by BP) and Gazprom are down 50% and 30% today and they are probably still selling the west their gas and oil under existing contracts.
Much as we all hate what death and destruction Putin has caused in Ukraine, at some point some form of unsatisfactory resolution/ accommodation will happen - even if it’s occupation of Ukraine with a puppet state and a “hard” Cold War - with Rosneft and Gazprom still doing business with the west.
GLA
You’ve probably got a good entry point. There’s some good comments on the bb that explain the issues.
Fundamentals look good. When the next trading update and results come, hopefully the markets disdain for insider sell offs will be forgiven.
I’m not unduly worried about being 9% down.
Good luck.
I understand your frustration as I was in the red even before the RNS. The other thread explains the reasons. Rather than him selling in dribs and drabs and having to issue numerous RNSs and a longer term drag on the SP, probably better to get it out all in one go. Prospects medium and long term look good as per broker forecasts. SP rising today. :)
Peter Cowgill sold 10m shares at 213p each, leaving him with a 0.2pc stake in the FTSE 100 sportswear retailer.
The company gave no reason for the share disposal.
Mr Cowgill offloaded two parcels of shares in 2020. The first sale of about 2m shares came in June, followed by a further 2.6m in October. He bought 50,000 shares in July 2021.
Analysts at Berenberg bank said the share sale was related to family wealth planning and that Mr Cowgill was “fully committed to the business, and this is absolutely no indication he is set to leave”.
Mr Cowgill’s own shareholding in JD was self-funded over time and not awarded by the company.
“We think any concerns over the sale are overdone, and would view the weakness as a buying opportunity,” added Berenberg analysts who had spoken to the company.
Maybe those in the know got to hear about this before the rest of us?
https://edition.cnn.com/2021/12/13/politics/us-warning-software-vulnerability/index.html