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@tottyman(10:05) & @TREESTUMP(10:51) : Thanks both for the heads-ups.

Infrastructure bill vote should be soon :
https://www.theguardian.com/us-news/live/2021/nov/05/us-politics-congress-house-democrats-joe-biden-infrastructure-reconciliation-live

There was one yesterday:
https://twitter.com/sunriseplc/status/1455841906919944197
"#SRES can make a difference…"
Make of that what you will...

https://www.zerohedge.com/markets/uranium-stocks-soar-market-discovers-chinas-plans-150-nuclear-reactors

There's an MMM Q3 Earnings Call transcript here:

https://www.fool.com/earnings/call-transcripts/2021/11/02/martin-marietta-materials-inc-mlm-q3-2021-earnings/

Sadly no mention of any imminent pozzolan deals; but as they point out, they've only owned the Lehigh West assets for 32 days, so probably still trying to understand what they've bought.

On a more positive note, this on cement pricing:

"If we're looking at what we're anticipating next year, we're anticipating a price increase in cement of $12 a ton."

https://twitter.com/sunriseplc/status/1455511970107506689

"With a move to renewables and phasing out coal fired power stations and reducing C02 omissions, this weeks #COP26 will be very Interesting.

Production of Portland cement is responsible for 8% of the global man-made carbon dioxide emissions for example…"

A couple of further comments on MMM Q3:

1. Their 2021 cement price of $122.91/t is even better than Eagle's reported $117.78/t. We know that in this part of the world the price of cement is a very good proxy for the price of pozzolan.

2. They show their new West Coast region shipping 2.6M tons of cement in 2020. If ~20% of cement is to be replaced by fly-ash then that's ~500kt/y. But fly ash is of course a disappearing commodity, to they will need to find an alternative material that can be ramped up to 500kt/y ...

Martin Marietta results just out. Presentation here:

https://ir.martinmarietta.com/static-files/30d16682-9d61-45ad-9607-7a3c0660e2ad

Slide 6: Cement price up 8%, shipments up 4%.

Slide 9 is about the Lehigh West acquisition. "West Coast growth platform with bolt-on opportunities"

Hi Dubliner, thanks. I only just now saw your post, as LSE seems to continue being temperamental, often not showing the latest post(s).

Just a follow-on on Holcim Q3: the Analyst Call Replay has now been added (same link). You probably won't want to listen to the whole thing but there's an interesting snippet at around 30:45-31:45 with the CEO discussing their "one deal a month" bolt-on acquisition strategy, and future "smaller local acquisitions especially in North America and Europe". He later said they would be giving more details of this strategy in their Capital Markets Day on 18 Nov.

Holcim Q3 today. Similar positive outlook with emphasis on sustainability.

https://www.holcim.com/q3-2021-results

"The company will pursue further bolt-on acquisitions while accelerating progress towards its 2030 sustainability targets."

Terrafin, I think you may have misread my posts.

Eagle Materials Q2:

http://ir.eaglematerials.com/node/21001/html

"Cement revenue for the quarter, including Joint Venture and intersegment revenue, was up 4% to $288.3 million, and operating earnings were a record $88.8 million, up 11%. These increases reflect improved Cement net sales prices and sales volume. The average net sales price for the quarter was up 6% to $117.78 per ton. Cement sales volume for the quarter was a record 2.2 million tons, up 1%."

Cemex Q3:

https://cemexen.gcs-web.com/node/14671/html

"Consolidated cement prices grew 6% in local currency terms, the largest year-over-year quarterly pricing gain since 2016."

"Bolt-on investment strategy will increasingly support EBITDA growth over the medium term"

Justin talking about YCA (from ~5mins in) :
https://www.youtube.com/watch?v=NotCqutjQf0&t=294s

Boral's flash ash deal is not done yet, but clearly getting close. Their AGM was earlier today (Australia):

https://boral.com/shareholder-information/annual-general-meetings

From the Chief Executive's Address:

"In addition, we have announced plans to divest our North American Fly ash business, and we
are at advanced stages of that process."

Just speculation, but it's not hard to imagine scenarios in which our deal might be waiting for this much larger deal to be resolved first.

Important if true :
https://twitter.com/RosatomGlobal/status/1453320678128619526

Interestingly, it's been possible to buy at below the placing price (£3.64) this morning.

There was some interest in this 3 months ago, now here they come again:

Thu 28 Oct :
Cemex Q3
Eagle Materials (Nevada Cement) Q2
Fri 29 Oct :
Holcim (Lafarge) Q3
Tue 02 Nov :
Martin Marietta Materials Q3

These happen to be the four on my shortlist for our CRMC. My guess is MMM. I believe Dubliner is thinking Cemex while Terrafin is suggesting Eagle. Anyone for Holcim?

[@Shepherd38 : probably EUA.]

This maybe?
https://twitter.com/investchampion/status/1451199309957898252

October presentation now out :

https://www.yellowcakeplc.com/wp-content/uploads/2021/10/Yellow_Cake_Investor_Presentation_October_2021.pdf

NAV/share on 13 Oct was £3.63 based on $47/lb.