Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Double digit sales growth in all regions, including over 20% in Western Europe. Net debt down over 30% to £1.6b, revenue £2.2b. 8% up today, the market liks the figures. Perhaps we've finally broken the tenner barrier properly.
" Nine of our ten largest brands are up double-digits on a two-year basis."
That is really very very nice
According to Richt9999 "King Canute thought he could stop the tide!"
No he bloody didn't. That's the whole point about King Canute (sic, recte ****): he knew he couldn't stop the tide, and made the point very graphically when his moronic flatterers told him he could.
Nice divi as well. Lot of cash in the bank, wonder what they're planning to do with it? And I still don't understand why the delay presenting the figures: was it auditors' incompetence (my bet) or Renishaw's?
**I think it's because although AAL have dumped their thermal coal assets, they are still a miner of metallurgical coal for steel production.**
Also they (/we) still own 20% of TGA so still have a significant, if greatly reduced, interest in it.
Slightly disappointed in these: noticeably underperformed the market this year, even if up 6% on my purchase. Still happy to hold for the decent divi and prospects of capital growth.
Perfectly respectable return, bought at just over £14 in March last year, roughly 66% up not counting divis. Still holding, may even add a few if incoming divis are available.
No rush, the longer it stays this low the more days we get of ~350.000 shares cancelled, increasing the eps (over 6m cancelled in September alone). Jam tomorrow. Even more jam.
She sounds great, lot of very talented people available internally to replace Cutifani next year. Topped up a few at £25.20
"Anglo names first female CEO at top African iron ore miner - MINING.COM" https://www.mining.com/web/anglo-american-names-new-bosses-for-bulk-commodities-unit-kumba-iron-ore/
Very shocking that Ernst & Young, supposedly professional auditors, have had to ask for an extra three weeks to prepare this year's results, three DAYS before they were due.
Really very poor show, they should be ashamed. They should be sacked and replaced with people who can carry out a simple contract.
Got my two blocks of JXN, one at $30 and one at $25, now slightly in profit as it went back to $28 today. Morgan Stanley has JXN at "overweight" with a target of $37. If they do manage to get $325-425 back to us in the first year, fair value would be well north of $50.
Just got my 4th block of TGA (5th if you count the 250 Anglo gave me).
As there seem to be a few fantasy traders here with 20/20 hindsight, I thought I'd post my deal in real time. So: just pressed the button on a purchase of 2290 at £3.45.851 at about 8.21am.
Now slightly over 4% of my holding. Not planning to do anything until these hit a tenner or so, hopefully next year. Don't usually let any of my holdings go over 10% of my portfolio (except Berkshire Hathaway) but may make an exception with these.
Sticking tomorrow's divi back in here. Been stocking up since the big fall 18 months ago and now got a third more than back then, currently paying about 70% of the pre-crash level. If (when) the divi goes back up to 47c things will be very nice.
Closed in New York at $27, down 10% on the week. Picked up a few but expecting it to continue falling a bit next week, so hoping to buy the remaining 3/4s of my stake at slightly lower prices. Decent first year income, probable capital growth.
"Evercore ISI initiates coverage with $34 target."
The sale's been abandoned (announced in July) Price dribbling upwards quite nicely, presumably people are expecting full year results to look good. I'm hoping for a divi of at least 60p, based on the "record order book" and probable pre tax profits of £121m. If it does go over £60 again I'll probably halve my stake - decent return on the £15 I paid for them, but can't see it going that much higher while the old boys, god bless them, are still bed blocking.
Not that bothered by the slide. Would guess quite a lot of people are taking profits at £2, which is fair enough. I'm not planning to, despite having got most of my holding at 35p (and others at prices up to about £1.50, average c80p). Not planning to sell under £6 in theory, and hoping for a divi in the next year or so. We'll see.
Likely to mean further delay in exploiting Rio's share of Simandou
https://www.ft.com/content/6ff3fe38-66f1-4d76-995a-457936305dd2
https://www.stockopedia.com/articles/keep-an-eye-on-the-momentum-at-vitec-238334/
Looking forward to next Tuesday. With airports added to the leisure mix I can see this back over £20 within a year. Very nice patch of green on a mostly red day for my portfolio.