Member Info for Retour_du_Renard

I did suspect this is what they would do.

Spike - As per previous comment. It all depends on how long it runs for or if it was adjourned and re-dated for technical reasons. Only a slam dunk will trigger an RNS I'm not hearing anything just yet but 3.30 is always a key time for RNS.

Apache - Silly questions ? A company running out of cash? an exploration company unable to fund drills? Yeah mate, not important at all. Fingers in ears boys, la la la la la, I can't hear you, la la la la, TCFs, la la la la , 12-18 months, la la la seismic stuff la la la

Court hearings on Fridays always begin at 10.30 am. So hopefully any agreement will be forthcoming quite quickly. You would have expected most of the validity ground work to have been done beforehand. It will either be quick or adjourned.

Ana 0 Agree, this has been market orientated. Keep in mind we are trading through old ground here. The 370/80s are nothing new for GLEN. By rights out home should be in the 400s regardless. So my feeling is this is a push back into home territory.

I think you should be saying RNS Friday!!!!!

At the end of the day a UK court cannot condone a payment to someone on the US NOC list. Simple as that. If they did it would open up the flood gates. Better still , there is too much international pressure for DRC not to accept the decision.

I'm hoping that GLEN finishes around the 374/5 mark at COB and then an RNS tomorrow pushes into the 390s+ Just in time for that weekend beer (Starting around 13.00 on Friday!)

No probs and thanks for the nod. It's hit a 2 year low and it's also a pretty stodgy priced stock so I'm not sure if the money is going to fly back into it until the DRC thing is full resolved. This is why it helps GLEN being so diversified.

Qz - Their pension deficit is �14bn.

JMO - The ruling yesterday was to do with Gecamines (government owned) trying to wined down Katanga due to bad debts. That action was suspended as the regional court didn't have the authority to judge on the case, hence that is now with the supreme court. Glencore has refinanced the company, so that is a null event by all accounts. Getler is screwing Glencore for commission on all the mines but Glencore can't pay him due to imbargoes. So he's trying to suspend their bank accounts due to 'money owed'. That ruling was suspended and is to be re-heard in the UK on Friday. The mining tax negotiation with all the other effected parties is ongoing and apparently going well. But you can bet your bottom dollar that all the above is a play for the tax situation. Hope that helps ish.

Market is looking good but it does feel like there is an expectation bubble. I sense that legal or negotiations news could be leaking out. RNS tomorrow morning perhaps?

JMO - Hopefully it's a morning hearing, so they have the chance to get an RNS out. If it runs into the afternoon it's unlikely to make it out before COB.

I think the debate on the other thread MMs seems to have created the consensus that without decent buy/sell volume the price is being manipulated somewhat. Supreme Court decision / hearing is Friday I think.

JMO - Fair does. Always like a debate. Keeps things box fresh. Just keep in mind algos can facilitate short traps. Especially on days where the vital markets signs are strong.

Brokers hate tight ranges as they can't make anything on the bid/ask spread. So they will take any opportunity they can to drop or pump the situation. Today is clearly a drop day. The relatively low volume is also not helping.

JMO - I'd suggest you look at the US futures which are looking good for the first time in a few days. My feeling is this is being deliberately worked down on a very positive market. You can only get away with it for so long. Expect to see a huge buy go in within the next few minutes.

Wiggy - The next court hearing is Friday, so I would suggest we might get some 'moveable' news before then. Glencore is a pretty volatile stock normally and it's unusual for it to be 'held in range' like this for more than a couple of days. We've been floating between 357-363 since around 2nd May.

I think they are trying to grind out a few more frustrated holders into selling. I sense there could be some news on the way.

It's clearly being held down - All the vitals are now green. Clearly the DRC is weighing on this. That said this is like a coiled spring now. Once good RNS and this thing is 400p