Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Opulentia has spoken, so I assume it will open about £1 lower.
Pratting on about saying "over £60 next week" or "£56 at close" etc is so very very pointless without providing any reasons why it might be so.
It will be so. It will be £56 at some point (probably soon), it will be £60 again (probably this year, possibly before half year results) and it will be £100 (probably in my investment span, ie before I die) but it depends on the price of iron ore (currently tanking), inflation, the price of copper, whether the Mongolian and Guinian and various other regimes are more or less corrupt and a lot of other factors.
Not on whether some plank on this board hopes it will happen soon and tediously repetitively repeats that hope.
On an otherwise largely red day for my portfolio.
Better than expected quarterly results, eps up, revenue up, only losing $300m on pulling out of Russia. Credit Suisse ups target to $166. I'm staying put for the moment, but it's been a dull few years , with only the 5.1% divi for consolation.
Will probably sell half if/when it gets back over $150, as think there are better places to park my dosh.
Norall wait for tomorrow's divi to arrive before reinvesting, but have littlcash left over from this year's ISA sub, so might as well stick it n hre on today's weakness, getting in just before itclocked back over 60 quid.
Been reinvesting my divis here fairly consistently for the last 3 years, and now have 40% more Rios than I had in 2018 (and about 4x the income from them).
It's a sold cyclical share, and pays delightfully at the top of the cycle. I've had some since they were £3 in the late 80s, and they've done me proud, but I wouldn't want to have to rely on them for steady income.
And as long as they don't do another Alcan ...
Bought a few of these for my ISA at £1.02.2. Not going to shoot the lights out, but decent yield and prospects of capital growth
Should massively help the bottom line, with Quellaveco, the world's second largest deposit, coming into production this June after $5.5bn of investment. Should produce at least 300,000 tonnes a year for the next 10 years.
https://larepublica.pe/economia/2022/04/01/quellaveco-el-peru-ofrece-actualmente-predictibilidad-y-competitividad/
And it has existing capacity and buy/build options extending production up to 2040, far longer if new capacity is exploited - eg Zibulo north shaft life extension of 10-12 years + second seam at cost of £110m producing up to 137m extra tonnes with production starting in 2026.
18-20m tonnes pa production by 2026 looks realistic, and surely they'll have sorted Transnet by then.
Even at 14mt pa, and conservative coal price of $150/t, that's EBITDA of around $1.4b pa.
Topped up again with this q's divis, plus a few extra, taking my holding up another 1.5%, and almost 40% up in 2 years. If/when the divi gets back to ~$2 pa the income will be very nice. As it is, my total divi is already 3/4s of the pre covid rate, and eps sky rocketing.
Getting bored. I've been in since privatisation. Can't complain, roughly 100% up in the last 20 years (when I bought a lot more, probably much more since 1989 and my tiny privatisation allication) and steady divis. But debt linked to inflation is going to reduce profits over the nexr couple of years, eventually feeding into the divi, so think it's time to move at least half my holding into something a bit better. Perhaps Rio, or Indivior?
The sanctions put on exporting Alrisa's diamonds should benefit de Beers (already 20% up over 2021's cycle 2). They put out this statement:
"Following President Biden’s Executive Order prohibiting the import of diamonds from Russia into the United States, De Beers Group encourages retailers to buy with confidence by engaging with their suppliers to understand the origin of their diamonds.
“Every diamond that De Beers Group sells is discovered at one of our mines in Botswana, Canada, Namibia or South Africa.
“De Beers Group is committed to working with sightholders to support the United States’ demand needs and to provide the origin and impact of every diamond we discover and sell. "
From JP Morgan. Topping up when April's ISA deposit becomes available.
Yet another all time high, 16% up ytd and $7.25 up today alone (on a day the market fell by nearly 1%). Market clearly likes the $11.6b purchase of Allegany.
Howard your figures look good to me (presumably based on 15m tonnes pa, so 1.25m per month, rather than 125k)and FOB of $54, as per the most recent figures.
The (final) dividend is based on profits for the period July-December 2021, not how much cash they currently have in the bank. There will be another (interim) dividend for Jan-June 2022 (probably payable in October) which could be quite substantial as they'll have their ZAR6bn safely in the bank.
According to Hargreaves Lansdowne: "Shareholders approved this takeover at meetings held on 8 March 2022. The takeover still needs court approval at a hearing on 29 March 2022.
If you’re still a shareholder at the end of 31 March 2022 and the takeover is approved, you’ll get 125p per share for your Air Partner plc shares. The cash will be credited to your account on or around 14 April 2022. "
The C$2.7b offer to buy the (available) rest of Oyu Tolgoi looks very generous to me (a 32% premium to Friday's price). Judging by the fall in Rio today, the market doesn't much like it either. But I'll bet the hedge fund sharks who own the rest of THR will want more.