Clarence Beaks
15 Jun 2017
Been stuck here quite sometime now I'm waiting for a 250p approx re-buy.
Eadwig
12 Jun 2017
Re: After Hours RNS ..... Bad move, unless they already have a buyer for it. Last I heard they were trying to sell their coal assets along with RIO.Mon, 12th June 2017 Glencore has submitted a proposal to acquire Rio Tinto's 100% interest in Coal & Allied Industries Limited for $2.55bn in cash plus a coal price linked royalty.Glencore said the cash would comprise $2,050m on completion and $500m in aggregate deferred cash payments, payable as annual instalments of $100m.The company said the proposed acquisition would be funded from existing cash resources and committed facilities and was subject only to regulatory conditions.It added that said a subsidiary of Mitsubishi Corporation had a tag-along right to sell its 32.4% interest in the Hunter Valley Operations joint venture.Glencore said it has agreed to purchase Mitsubishi's 32.4% interest in the HVO JV and 28.898% interest in the Warkworth joint venture for $920m cash conditional on completion of Glencore's acquisition of C&A from Rio Tinto,It said that $520m would be payable on completion and $100m on the first four anniversaries of completion.Glencore said there was no certainty that any transaction would be concluded and it would only be bound once a binding share purchase agreement was concluded with Rio Tinto.Glencore said that if a transaction were concluded, it intended to mitigate its overall financial commitment via a sale/monetisation of assets (prioritising its coal portfolio) of no less than $1.5bn, including exploring the option of selling down up to 50% of its interest in the C&A mines.It added: "In any event, as part of our overall group financial policy, in addition to targeting maximum 2x net debt/adjusted EBITDA through the cycle, Glencore's balance sheet will be managed to prevent net debt increasing above December 2016's level of $15.5bn, thereby ensuring that our leverage target is comfortably met and financial conservatism maintained."
Gus1065
09 Jun 2017
After Hours RNS ..... Release posted late Friday (6pm) on a possible acquisition of Aussie Coal and Allied Mines. Looking to trump existing offer already on the table. Main body of text here; more background in the full RNS. Anyone would think they were hoping no one was looking ....Gus.---------- -Baar, Switzerland9 June, 2017 Glencore submits fully funded proposal to acquire Coal & Allied and agrees conditional acquisition of Mitsubishi's interest in Coal & Allied mines Glencore has submitted a proposal ("Glencore Proposal"
to acquire Rio Tinto's 100% interest in Coal & Allied Industries Limited ("C&A" for US$2.55bn cash plus a coal price linked royalty, with the cash comprising:· US$2,050m cash payable on completion; and· US$500m in aggregate deferred cash payments, payable as annual instalments of US$100m over five years following completion. The Glencore Proposal will be funded from existing cash resources and committed facilities and is subject only to regulatory conditions. A subsidiary of Mitsubishi Corporation ("Mitsubishi" has a tag-along right to sell its 32.4% interest in the Hunter Valley Operations joint venture ("HVO JV". Glencore has agreed to purchase Mitsubishi's 32.4% interest in the HVO JV and 28.898% interest in the Warkworth joint venture for US$920m cash conditional on completion of Glencore's acquisition of C&A from Rio Tinto, with US$520m being payable on completion and US$100m payable on the first four anniversaries of completion. There is no certainty that any transaction will be concluded. Glencore will only be bound once a binding share purchase agreement ("SPA" is concluded with Rio Tinto. If a transaction is concluded, Glencore intends to mitigate its overall financial commitment via a sale / monetisation of assets (prioritising its coal portfolio) of no less than US$1.5 billion, including exploring the option of selling down up to 50% of its interest in the C&A mines. In any event, as part of our overall Group financial policy, in addition to targeting maximum 2x Net debt/Adjusted EBITDA through the cycle, Glencore's balance sheet will be managed to prevent net debt increasing above December 2016's level of US$15.5 billion, thereby ensuring that our leverage target is comfortably met and financial conservatism maintained. Glencore will make further announcements in due course regarding the Glencore Proposal and the Mitsubishi transaction.
Clarence Beaks
06 Jun 2017
Re: Run out of steam I'm out. Gone weak, going lower. Buy back another time when it's on the rise.
penhome
02 Jun 2017
Re: Run out of steam Here's the updated chart. Not much has changed except the H&S neckline is now acting as resistance. A slightly weaker close today at 286.75 (previous 292.50 and 295.15)[link]
Clarence Beaks
01 Jun 2017
Re: Run out of steam Im still thinking of those gaps that never made any difference!
II Editor
31 May 2017
NEW ARTICLE: Trends and Targets for 1/06/2017 " GB POUND v US DOLLAR (GBPUSD) "Giant Asteroid to wipe out entire planet", an Express / Mail / FT type of headline where the devil will be in the details. It could be next week, it could be a million years ahead, it might just be a movie. ..."[link]
penhome
25 May 2017
Re: Run out of steam See my 090517 post
Clarence Beaks
25 May 2017
Run out of steam Been floating here for a while now. Which way next? So much for those broker targets of £3.90.Tempted to sell up personally, though didnt realise about the recent divi.
Eadwig
24 May 2017
Re: Ag merger? Bunge have denied being in talks with Glencore. GLEN rises on statement, Bunge drop 7% after a 16% rise yesterday.
gamesinvestor
24 May 2017
Where next? I sold half my holding at above today's price and put all the proceeds into Britvic.I'm up 26% on Britvic and down on Glencore.I should obviously have exited the lot.Heh ho, perhaps there will be another chance and another opportunity like Britvic to shoot for.Games
Eadwig
24 May 2017
Ag merger? "Bunge AH as Reuters reports the company talked with Glencore's agricultural unit about setting up a North American partnership, not a sale of the entire company.Bunge surged more than 16% in today's trade after WSJ reported that Glencore had approached it about a "possible consensual business combination."Merger talk in the ag sector has been rising for months as commodities prices remain stubbornly low, but some analysts say BG's potentially high price tag, with a current valuation of ~$11B, raises questions about the feasibility of a deal."North America is the only part of the globe that Glencore's Ag unit has failed to penetrate in the past. Having sold half the division to raise funds and reduce debt very recently, I doubt GLEN will be looking at some sort of take-over as was first reported.My bet is that they are mostly wishing to regain some of the volume losses to the marketing division that were lost due to the above sale, amounting to around a loss of about $0.5Bn per year in Marketing profits. A deal along the lines done with the Russian state oil producer would achieve such a result and cost GLEN in the hundreds of millions only.
gamesinvestor
23 May 2017
Re: H1 EW - Nice one, I had forgotten about this chunk of change for this year.Games
Eadwig
19 May 2017
H1 & H2 Divi Amounts, Pay Dates H1 Ex Div was 12th May. USD $0.035 or 3.5 cents per shareI think we all forgot about it because this partial re-instatement of the divipolicy was put in place so long ago for payments in 2017 (for Y/E 2016), back in Feb: "Glencore plc has today announced that its Board is recommending an aggregate distribution of US$0.07 per share in respect of the 2016 financial year". That's a distribution of $1 Billion in total.3.5 US cents converted at rates on 17th May = GBp 2.6979p per shareH1 divi payment date is 31 May 2017. H2 Ex-Div on Thursday 7 Sept. 2017. USD $0.035 or 3.5 cents per share3.5 US cents to be converted at rates on 13th Sept. 2017 Payment date for H2 is Tuesday 26 September 2017The real divi policy starts again in 2018. "This will compromise of a fixed $1 billion component reflecting the resilience, predictability and stability of marketing [trading] cash flows and a variable element, representing a minimum payment of 25% of free cash flows from our industrial assets. [mining]"Glad my trade on 4th of May picked up some divis as I wait for it to hit @300p to sell. Missed by a fraction a day or so ago, I upped it from @299p.for some reason after the first order expired. I set the expiry date because of the ex-div date, but forgot that was why. Bad policy to go for round numbers in these things, I shall change it back to 299.x, now its ex-div, in theory I could drop it by 2.7p. I wont though.Eadwig
Eadwig
17 May 2017
EVs Booming says Ivan Glencore CEO Ivan Glasenberg says the rise of electric cars will significantly boost demand for minerals including copper and lithium in the coming decades.Electric vehicles require more copper wiring than standard internal combustion engines; for example, the battery in an electric car contains ~38 kg of copper, 11 kg of cobalt and 11 kg of nickel, and Glasenberg says those materials, along with maganese [sic - manganese they mean. GLEN produce all these metals, except lithium, which I hope they steer clear of- Eadwig], stand to benefit from more demand for electric cars.European sales of alternative fuel vehicles, which include fully electric cars and hybrid vehicles, jumped 36% Y/Y during Q1 to more than 235K.
