Member Info for nomlungu

2 headlines on mining.com

https://www.mining.com/vehicle-electrification-requires-55-more-copper-mines-by-2050-report/

https://www.mining.com/friedland-warns-of-copper-crisis-as-mine-costs-soar/

In the last Investor Meet presentation, the accompanying PDF showed that the average rig utilisation in H1 2024 was only 54% (page 14 - you need to be logged in to read it):

https://www.investormeetcompany.com/investor/meeting/review-of-interim-results-and-prospects-10/presentation

In the Q&A management were asked "how fast can you ramp up capacity". The answer is worth a listen:

https://youtu.be/65caPpuZ6qo?t=1922

Higher rig utilisation flows through to higher profits quickly by leveraging the fixed cost base.

Are they abandoning Turkey?

Nick Cohen: 'Europe is not ready to cope with a triumphant Donald Trump'

https://nickcohen.substack.com/p/europe-is-not-ready-to-cope-with

Good article

The Chevron Defence was burnt by the US Supreme Court in one of their recent Redneck Rulings... This came out a few months ago [What Healthcare and Life Sciences Investors Should Know], warning of the implications:

https://www.debevoise.com/insights/publications/2024/01/chevron-under-fire-what-healthcare-and-life

TLDR AI summary:

The Supreme Court is considering cases that may abolish or modify the Chevron doctrine, which requires courts to defer to federal agencies' interpretations of ambiguous statutes. This could impact healthcare and life sciences investors significantly. If overturned, it may become easier to challenge regulatory actions, potentially affecting FDA approvals and other agency decisions. For regulated entities, this could have both positive and negative implications. It may facilitate lawsuits against agency overreach but could also disrupt regulatory stability that companies rely on for major investments. The outcome could particularly affect areas like laboratory-developed tests regulation and drug approvals. Investors should carefully evaluate how potential changes to the Chevron doctrine might impact their specific interests in regulated industries once the Supreme Court issues its ruling.

Evi might like this:

https://www.weforum.org/agenda/2023/07/sweden-stockholm-wood-city

Aah right - we are supposed to be Jedi Masters and read your mind?

"Trump could just walk into the oval office now, with out doing very much else."

How thick are you? Have some respect for Democracy.

I thought Stoners were peace loving people?

Https://www.drudgereport.com/

https://www.youtube.com/watch?v=xcZRQTVq7W4

Food gardening... famine... uncontrolled mutating blight?

‘HOBBY GROWERS COULD BE PUTTING IRELAND’S POTATO INDUSTRY AT RISK’

https://www.britishpotato.co.uk/news/hobby-growers-could-be-putting-irelands-potato-industry-at-risk/

On a humid day, the spores can travel 25 miles. A few negligent growers can cause devastation to the food chain.

Yesterday I posted: "Watch out for credit card bad debt"

Today Citigroup starts raising the drawbridge

https://www.bloomberg.com/news/articles/2024-07-12/citi-shutters-unused-credit-card-accounts-with-losses-soaring

'Citigroup Inc. is shuttering unused credit card accounts as a growing number of customers fall behind on their payments.

The bank has also increased its capacity for collecting bad debts as part of its efforts to manage losses, Chief Financial Officer Mark Mason said on a conference call with journalists. That work has also included decreasing customers’ credit-card limits if they aren’t using them and tightening underwriting to ensure new accounts go to customers with higher credit scores.

“We’re watching the intent to pay very closely,” Mason said. “We’re constantly monitoring and managing this.”...

Banking giants like Citigroup tend to follow a common playbook when they start to see signs that consumers are struggling to keep up with their bills. With moves like proactive credit line decreases or shuttering unusued accounts, banks are trying to avoid becoming a customers’ lender of last resort right as they’re facing trouble.

As one of the country’s largest credit-card issuers, Citigroup’s efforts could be a harbinger of what’s to come at other major banks.

Citigroup’s total provisions for credit losses were $2.5 billion in the second quarter, up from $1.8 billion in the same period a year earlier. That included $1.93 billion in net credit losses tied to its US personal banking division."

If the Boss does not care about shareholders, why would anybody invest other than trying to time a trade over vulnerable people averaging down and 'living the dream'?

The S&P 500 just fell 50+ points in under 30 minutes as the market closed its final hour of the week.

This comes after both headline and Core PPI inflation came in above expectations for June.

PPI inflation has now risen for 4 out of the last 5 months.

Volatility is returning.

https://twitter.com/KobeissiLetter/status/1811852289306411301

#INFLATION is not beat

Jonathan Richman & the Modern Lovers - Egyptian Reggae • TopPop

https://www.youtube.com/watch?v=2ZyMPToh9Yg

The elections might [will?] bring an end to the party... And if Trump gets back in then expect him to reignite inflation so any rises will be eaten away.

Good video: "China’s Sinking Land Problem"

https://www.youtube.com/watch?v=nu_Y4hJmqGE

2 points I picked up on; Taiwan has the problem as well, &, the damage it is doing to subways and train systems is significant. And, high speed trains are most susceptible to the problem; just what China does not need when they have spent so much money on a high speed rail network.

#tofudregs

Mick,

They gave a trading update in May for the current financial year; like for like sale expected to be down 12% which they attributed to 'housing and infrastructure sectors being impacted by lower levels of demand and delays'. They were still expecting a PBT of £5m.

They are 'the UK's largest and most diverse geotechnical and ground engineering contractor' and have significant excess capacity so any pick up in business should flows through to the bottom line quickly. The current m/cap of £43m seems too low. Today's volume was the highest in over a year so I am hopeful of some more uplift.

I bought 15k trading shares after listening to Rachel Reeves speech on Tuesday; they are likely to be sold next week as I want a new Chromebook and there will be deals around Amazon's Prime Day.

GB News: "Overall, we rate GB News Right Biased and Questionable based on a lack of transparency with ownership and funding, numerous failed fact checks, and the promotion of conspiracy theories and pseudoscience."

https://mediabiasfactcheck.com/gb-news-uk-bias/

"hakes on its way"

Smoked Cod for me for fishy Friday.