Member Info for TopGun333

I'm gonna buy me a metal detector and start detecting in the historically fertile arable lands of Wessex for Roman and Saxon gold booty. I'll be rich, ya hear, rich!

Slight wobble with rest of the miners. Now looking good again.

43% increase in 2017 Q1 coal price VANCOUVER, Dec 12 (Reuters) - Teck Resources Ltd said on Monday it has agreed with major customers a benchmark price of $285 a tonne for the first quarter of 2017 for its top quality steel-making coal, the highest quarterly price in more than five years. The price is 43 percent up on the fourth-quarter industry benchmark of $200 a tonne, and helped to boost Teck's share price by nearly 3 percent to close at C$22.96 on the Toronto Stock Exchange. Earlier on Monday, Japanese steel mill Nippon Steel & Sumitomo Metal Corp and mining company Glencore Plc settled the January-March premium hard coking coal price at $285 a tonne, Platts reported quoting unnamed parties familiar with the negotiations.

Cuadrilla did the right thing here by issuing contempt of court prcoceedings as the protesters now know that they will be chased by Cuadrilla if they ignore court orders and could face prison. The same tactic was used against eco warriors 20 years ago with road developments like Twyford Down. It only took a couple of Eco warriors sentenced to a jail sentence for contempt for the rest to back off quickly. They're very brave in packs but really don't fancy being alone in s jail where they're unlikely to be the most popular of inmates.

Lots of ifs and buts in that S&P report. Bottom line is they are saying iron ore needs to stay above $45. No shit Sherlock! FTSE very quiet today, not just FXPO. I had a nice day though as I sold a recent 112 purchase at 117 this morning. I fully expect this share to keep moving about and that's fine with me.

Worth a short term £20k punt. Follow your logic Borgy.

Talking to myself quite happily here!

Yay! Granto is buying again. That's a good signal! :-)

Quite happy with a 6% profit day trade today.

But Chinese factory PMIs released overnight are strongest for two years!

Platts has also reported higher pellet prices due to increased demand caused by Q3 price increase in coking coal. Pellets require less coking coal than fines in steel making process.

Think a cat stood on somebody's keyboard for that 73p sell. Ouch!

Difficult to put a ceiling on the SP here in my view as the chart does look very positive. Any ideas from anyone where it might be by end of the month or after the US election if Hillary wins?

Thanks for the confirmations Granto!

I have found the answers to the below... It looks like FXPO produce 6m pellets out of 59m global supply so 10%. It also seems that most of the debt is to pay for new plant although I note the $175m that was lost by the CEO in the bankrupt bank. It seems to me that iron ore fines need to stay where they are and hopefully increase in price for the company to make hay while transport costs are low and the BHP mine remains out of action in South America until mid-2017. China and South Korea clearly the pendulum markets that will shape the company's future profits also. What I don't understand is why the SP has increased so dramatically in the last few months.

Hi Granto, I'm new to this board today having done some initial research on FXPO. I like miners in general and I think I might like this one specifically. Two questions strike me: Is there a way of knowing how many pellets are used on a weekly or monthly basis around the world and what is the percentage produced by FXPO? Secondly what is the reason for the outstanding debt? Is it to do with capital costs of developing mines in Ukraine or is it something more worrying? Hope you don't mind me tapping your brain for knowledge! TG

Just keeps rising a penny or so a day...

I like a company like S32 that has doubled its sp since the low after the spinoff owners sold their shares and is so below the radar on the bulletin boards! Great!

I've been waylaid by the pub so will do them at the weekend properly. But in essence I did some research in mid-August that indicated that the UK brick industry was making 1.4bn bricks of various types annually last year and the existing demand was 1.8bn bricks and the shortfall was being made up by imports that are expensive because of the cost of moving heavy bricks long distances. Using figures to build more houses expressed by all political parties I came to the conclusion that at least 2.1bn bricks are needed to satisfy those building rates. Obviously that will depend on the ability of housebuilders to gain planning permissions etc to build lots more houses. I can't recall whether I based it on 100,000 or 200,000 more houses per year. Will check. I also factored in an x amount for large infrastructure projects which I will also check. When I assessed the output that MBH produces, it came to something quite small like less than 10% of all bricks made annually. I got the figures by extrapolating from stats on the Brick Developers Association website which claims to represent over 95% of all bricks made in the UK. The issue I had was one of the MBH's ability to expand production to meet demand. It takes a long time to commission new brickworks but it seems they have increased capacity by 20% in the last year and may have plans to do more. Like most brick makers they have been scared off by the crash of 2007/8 when many in the industry went to the wall (no pun meant) and other companies that survived mothballed plants as a massive brick mountain built up with no takers from housebuilders. Apparently that brick mountain fed market supply until two years ago! Now there is a much contracted brick making market with a seemingly huge need to make bricks again for housing and infrastructure. Hope that is and remains true! I like MBH as it seems a solid company that will benefit from the circumstances but am actually a bit concerned that they are so keen on reducing their cash debt to zero in what seems to be opportune times to make hay (with mud and straw). It still has a family controlled element and I think they are concerned about the anxieties that the last crash caused them rather than seizing existing opportunity to expand output more via more capital investment. I will do the numbers at the weekend but I am sure that the current SP of 107 is sustainable.

I had a target price of 107 for MBH end of year results by which time they will have no debt. However the SP has exceeded my expectations by more than two months. I am going to recrunch my numbers tonight!