Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I do love watching these daily 1p rises in BEN. I don't mind it even if it was 0.5p daily rise all the way to December! It will make a nice present.
Australia still very much dependant on coal:
Leading global coal and gas supplier Australia has pledged to achieve net zero carbon emissions by 2050. Prime Minister Scott Morrison however said the plan would not include ending Australia's fossil fuel sectors.
The prime minister assured Australians the target will not mean paying more for their energy bills. "Technology not taxes," he said.
He addressed regional Australians directly and said the plan won't involve shutting down coal and gas production or exports. He talked about billions of dollars invested in low-emission technologies. The government's plan would "strike a balance", Mr Morrison said.
https://news.yahoo.com/climate-change-australia-pledges-reach-011401838.html
So this coal reliance maybe the the same for China and India?
The 3 hydrogen companies (ITM, CWR, ITM) have been enjoying a ride up this morning. Have I missed any news?
Had a bit of a sweat and probably felt like a sweaty coal miner down in the pits when this went down to 14p this morning!
Glad this has shot back up to the surface. Look at it now! Pretty much daily 10% rises since IPO launch.
Thanks CAML, got my divi this today.
Looks like it's staying above £2.4 now. Looking for it to move to this year high.
Isn't there also rehabilitation liability costs which what made Boatman make the 'worthless' comments?
“The provision of R6.45bn on Thungela’s balance sheet is over and above the regulatory guidance for miners in South Africa, is in accordance with IFRS (International Financial Reporting Standards) and audited, and consistent with the provisioning norms within the industry,” said Anglo spokesman Sibusiso Tshabalala in a statement.
https://www.miningmx.com/news/energy/46435-anglo-says-r6-45bn-rehabilitation-provision-for-thungela-over-and-above-regulations/
Good find on this Kay. Positive interview and made Adam seem like a salesman! My takeaway from this is:
> Aiming to increase JORC from current 17m to 50m of proven coal reserves
> Target coal production 500k in 2022, 1m in 2023 and 2m in 2024
> Low production costs around $95. Although I think this is very low and cost may go up higher
> Possible acquisition of nearby fields if the opportunity arise
Based on the 264k production = £46m profit/350m shares, this equates to 13p. So this doubles to 26p if they double the production by end of next year. IMO, it's unlikely the the SP will get to £1 within the next few months unless they start producing millions of coal and something major happens. But I guess you never know with share prices?
Now that I understand the companies a bit more, not sure we can compare the SP of BENS vs TGA. Whilst TGA produce 15mt of thermal coal in the years, whereas BEN is only producing 300k of coking coal, maybe upto 500k if they announce another agreement.
Just wanna put my thoughts into the costings/assumptions. The £73m is based on realised coal price of $277 x 264,000. But this is just revenue. I don't exactly know the cost of production but assume it is around 60%. If so, that would mean the profit would only be £30m based on $110 x 264,000. Dividing this by the 350m shares, it means the SP should be around 8.4p for 50% capacity = £0.17p.
So ShareInvestment isn't far off from his 20p target. Hopefully with increase in prices, increase plant production including positive momentum and news, it could go higher.
Thanks for all your replies.
My understanding was that because DEC is an US based company, when they issue the divi, then they deduct the tax @30%. In others, it is taxed at the source/company. Filling the W8 forms allows us 15% reduction due to the tax agreement between our countries. That is why I assumed even if it is in an ISA, the divi has already been taxed even before it reaches out accounts.
But based on the comments, it seems some brokers may even be able to pay you full amount because they sort the tax out from their end if it is held in an ISA? Not sure how true this is because like I said, it has already been taxed before the divi is paid out. At least worst case is if DEC is paying a 10% yield, then the minimum payout would be 8.5%. but I'm sure we would al preferred the full 10%! Thanks all.
Thanks for the transcript Steven ...but WHAT A SHHHHEEEETE response to the rail problem!
I would have said 'Our plan B is that we can't rely on the rail at the moment until TFR resolves the issues. Nevertheless, we have plans to hire a fleet of MONSTER trucks to transport the coal to the ports and airports so they get to the buyers. We will not have a stockpile problem by year end'!!!!!
It feels like people are jumping ship to another coal company and switching money around. You'd have thought another coal company had just listed on the exchange. Need these bad news to wash over and then this will go back up. Just waiting out the downtrend.
Ben, we're up the Creek on this one!
It's at times like these that I wish I'd bought a boatload of ITM shares this morning...from £4.4 to £4.75......
Hi all, please can someone clarify how much dividend is paid out for DEC. For example, the declared divi for Dec is 2.89p, so is 15% tax taken off this because this is an US company (even if you have an isa). So, does that mean shareholders only get 2.46p per share as divi? Or do we get the full 2.89p if these shares are held in an isa?
Thanks.
But if anyone had followed the broker note, then you wouldn't have bought at £4 and sold at £4.5 or £4.7 (making a bit of a profit depending on how much you bought). ITM has been bouncing off £3.8 since July. What's the point of this target price when it's 4 months behind the current prices!
I think I might be better off doing the opposite of broker's notes recommendations/suggestions...or just read them for a laugh.
Damn it! Looks like the squeeze is happening today! It's going back to it's lower trading range.
What is this today....RBC RAISES ITM POWER PRICE TARGET TO 370 (310) PENCE - 'SECTOR PERFORM'?
ITM is at @£4.5. Aren't they a bit behind?
The auto-sells have been kicking off..now it's the auto-buys!
I think the SP have been pushed down cause we've had a series of bad news this month... port fire, rail problems, China tempering coal prices. The all-time high of $250 (USD/T) was never sustainable so some retract was expected. More normalised price would be around $180 but this is still nearly double on what TGA has reported as their realised price ($97 benchmark price with realised price at $75 .27 usd/t interim report is around 30% discount). After this noise about coal prices have stabilised, hopefully end of this month, the SP will rise again and accelerated by TGA's good news/final report like potential divi and how much they have sold at much higher prices e.g. like realised price of $170 (rough average of coal price between June and now?).
Question is how far will this drop before rocking back up again? £3.34 was when it has started it's 10% daily rises.
Autobuys are coming in, bringing it back up!
I can't believe this! I thought £4 was a good support level and now it's just dropping!
Can I assume that the RNS means someone has just dumped 8% /136k worth of shares? If it isnt, this SP drop certainly suggests so!