Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome To The ShareCafe Community - Talk Shares And Take Stock With Smart Investors - New Here? Click To Register >

12 Pages (Click to Jump) V   1 2 3 4 > » 

macduffy
Posted on: Aug 22 2018, 11:40 AM


Group: Member
Posts: 2,379

Great result. The market likes it!

smile.gif


  Forum: By Share Code

macduffy
Posted on: May 3 2018, 06:46 PM


Group: Member
Posts: 2,379

Tuesday's trading halt in NZ was short-lived and necessary owing to the 2 hour time difference. NZX started trading after the ANZ profit announcement but before the ASX start. Musn't allow arbitrage between the two, it seems.

wink.gif


  Forum: By Share Code

macduffy
Posted on: Feb 21 2018, 01:42 PM


Group: Member
Posts: 2,379

Shareprice turning up today. Time to think about covering those shorts?

icon14.gif




  Forum: By Share Code

macduffy
Posted on: Nov 20 2017, 02:06 PM


Group: Member
Posts: 2,379

Not a big deal. ANZ announced some time ago that it intended to sell its "bits and pieces" to concentrate on the core business. Recent sales include shareholdings in a couple of Asian banks, Australian finance company Esanda, NZ finance company UDC. Also thought to be interested in seling Australian insurance and wealth mangement businesses. Certainly, the capital released this way will be useful, given higher capital requirements!







  Forum: By Share Code

macduffy
Posted on: Apr 28 2017, 11:12 AM


Group: Member
Posts: 2,379

Personally, I'd wait for the RSI to turn and start to rise.

cool.gif




  Forum: By Share Code

macduffy
Posted on: Feb 24 2017, 05:29 AM


Group: Member
Posts: 2,379

Shareholders always pay for the incompetence and mistakes of management - there's nothing unusual about that. Woolies just happens to be a big, expensive example of such a failure of strategy.




  Forum: By Share Code

macduffy
Posted on: Jan 15 2017, 06:14 PM


Group: Member
Posts: 2,379

Thanks, clark, much appreciated.

Pretty comprehensive for "random thoughts"!

cool.gif


  Forum: By Share Code

macduffy
Posted on: Oct 4 2016, 10:47 AM


Group: Member
Posts: 2,379

And it touched $15 in 2008 before the GFC brought it back to earth. I held them a few years previously, made a modest profit and have spent the last decade being tempted to have another nibble. Never did!

unsure.gif

  Forum: By Share Code

macduffy
Posted on: Aug 17 2016, 10:01 AM


Group: Member
Posts: 2,379

FBU reports increased profit and increased final dividend. No mention of any "bust up"!


cool.gif
  Forum: By Share Code

macduffy
Posted on: Jul 28 2016, 06:38 AM


Group: Member
Posts: 2,379

Nothing more since this announcement about the possible IPO for a partial sale of the Gum Creek prospect. Less than 3 weeks ago so perhaps a bit soon to see anything further. Meanwhile, the recovery in the PoN seems to have run out of puff.

http://www.asx.com.au/asxpdf/20160711/pdf/438h54c629npjh.pdf
  Forum: By Share Code

macduffy
Posted on: Jul 27 2016, 06:54 PM


Group: Member
Posts: 2,379

Something like 50% in the last five months. Perhaps it's the news of the massive house building boom expected in Auckland in the next several years.

  Forum: By Share Code

macduffy
Posted on: Jul 6 2016, 06:37 PM


Group: Member
Posts: 2,379

Confusion between Trustpower - TPW on the NZX - and an entirely different TPW on the ASX. The former traded today at $7.74 and has a low for the last 12 months of around $7.20.


  Forum: By Share Code

macduffy
Posted on: May 3 2016, 06:53 AM


Group: Member
Posts: 2,379

Anticipation of the PFS for Carapateena which is due to be finalised this month and released before the end of May.

  Forum: By Share Code

macduffy
Posted on: Apr 22 2016, 02:32 PM


Group: Member
Posts: 2,379

Yes, the shareprice jumped from around $3 to to $3.75 on that announcement and is now trading at a shade under $4. The future now looking much brighter!

Disc: I hold a few.
  Forum: By Share Code

macduffy
Posted on: Apr 11 2016, 06:37 PM


Group: Member
Posts: 2,379

Yes, one certainly wonders!

Can only assume that with all operations being mothballed, cash will run down rapidly and will need to be replenished- hence the bargain-basement priced cash issue. It may turn out to be a case of throwing good money after bad but the only way to prevent dilution of one's holding is to take up the rights.


  Forum: By Share Code

macduffy
Posted on: Feb 5 2016, 05:13 PM


Group: Member
Posts: 2,379

I'm not so sure about that. The market's been expecting a divvy cut for some time now and that expectation is being reflected in the shareprice. 50% may be a bit more than some estimates but I wouldn't expect a wholesale sell-off.

Disc: Not holding - sold before the South 32 hive-off.














  Forum: By Share Code

macduffy
Posted on: Feb 3 2016, 05:54 AM


Group: Member
Posts: 2,379

No break-up yet. An acquisition instead.

http://www.nzherald.co.nz/business/news/ar...jectid=11583649




  Forum: By Share Code

macduffy
Posted on: Jan 30 2016, 06:09 AM


Group: Member
Posts: 2,379

Don't forget Groundhog Day!

rolleyes.gif




  Forum: By Share Code

macduffy
Posted on: Jan 18 2016, 10:38 AM


Group: Member
Posts: 2,379

Woolworths to pull the plug on Masters.

About time!!

http://www.smh.com.au/business/retail/wool...117-gm7ygg.html




  Forum: By Share Code

macduffy
Posted on: Jan 12 2016, 04:50 PM


Group: Member
Posts: 2,379

Good luck with that, mrbear, but I've never been able to understand the logic of buying a stock in a downtrend, particularly when, as in BHP's current circumstances, the next ex div date is about two months away.




  Forum: By Share Code

macduffy
Posted on: Jan 12 2016, 04:50 PM


Group: Member
Posts: 2,379

Good luck with that, mrbear, but I've never been able to understand the logic of buying a stock in a downtrend, particularly when, as in BHP's current circumstances, the next ex div date is about two months away.




Sorry about the duplication!







  Forum: By Share Code

macduffy
Posted on: Dec 10 2015, 01:29 PM


Group: Member
Posts: 2,379

Unfortunately, falling AUD doesn't cut much ice with taxes on pump prices which are levied regardless of the price of oil.

sadsmiley02.gif




  Forum: By Share Code

macduffy
Posted on: Oct 20 2015, 05:29 AM


Group: Member
Posts: 2,379

We read a lot about DYE's collaborative partnerships and JV's with various parties but it seems a long time since mention was made of the once highly promising initiatives with Tata Steel ( building products) and Pilkington (glass) to develop dye solar cells imbedded in various products. What happened here?

Disc: Former holder.
  Forum: By Share Code

macduffy
Posted on: Sep 24 2015, 06:31 PM


Group: Member
Posts: 2,379

Good one, SPL!

http://www.theage.com.au//breaking-news-bu...0924-43cc3.html

smile.gif




  Forum: By Share Code

macduffy
Posted on: Aug 7 2015, 01:19 PM


Group: Member
Posts: 2,379

You don't have the choice of not batting first if you don't win the toss!

Too much one day batting technique/lack of test batting discipline, IMO

thumbdown.gif


  Forum: Off Topic Chat

macduffy
Posted on: Jul 15 2015, 07:07 PM


Group: Member
Posts: 2,379

Haven't we heard all this several times before - from OZL?

rolleyes.gif




  Forum: By Share Code

macduffy
Posted on: Jun 13 2015, 06:40 AM


Group: Member
Posts: 2,379

What NRT is about - an introduction.

https://www.youtube.com/watch?v=b7KD6dhN19A




  Forum: By Share Code

macduffy
Posted on: May 25 2015, 06:39 AM


Group: Member
Posts: 2,379

An opportunity, longterm, IMO, if one is prepared to be patient. Their assets are pretty much all in depressed metals - nickel, copper, zinc etc which the market doesn't rate at present but which will have their time again - sometime. Meanwhile, balance sheet looks sound.

But DYOR




  Forum: By Share Code

macduffy
Posted on: May 11 2015, 07:11 PM


Group: Member
Posts: 2,379

Phew!

Reminds me of the famous Churchill line.

""I cannot forecast to you the action of Russia. It is a riddle, wrapped in a mystery, inside an enigma; but perhaps there is a key. That key is Russian national interest."

Or Chinese or American. Take your pick!

rolleyes.gif




  Forum: By Share Code

macduffy
Posted on: Apr 1 2015, 04:52 PM


Group: Member
Posts: 2,379

That John Key sure has a lot of clout - and seemingly, a lot to answer for!

Yeah, right!

rolleyes.gif




  Forum: By Share Code

macduffy
Posted on: Mar 29 2015, 12:59 PM


Group: Member
Posts: 2,379

QUOTE
So trivial and minor they see the need to tell the market about it.


It's mandatory to advise changes in a company's officers. Company secretaries fall into that category.




  Forum: By Share Code

macduffy
Posted on: Mar 28 2015, 06:10 AM


Group: Member
Posts: 2,379

Joint company secretaries are a fairly common phenomena in corporate Australia. Mostly the larger companies, eg ANZ has them; BPT did for some time. Usually because of the workload of multiple board committees but also used in work-sharing situations. Nothing to be concerned about.




  Forum: By Share Code

macduffy
Posted on: Mar 23 2015, 05:00 AM


Group: Member
Posts: 2,379

I suppose that on the law of averages alone, one of Plastic's far-fetched predictions will actually happen - but he will need to get his facts and dates right first. Next Friday isn't the start of the Easter break this year.

rolleyes.gif




  Forum: By Share Code

macduffy
Posted on: Dec 17 2014, 11:59 AM


Group: Member
Posts: 2,379

A lot of truth there!

I would imagine that the company's response might be along the lines of "that's okay in hindsight but at the time we were taking action to future-proof earnings and so that RIO and Vale couldn't steal a march on us."

A strategy known as drowning your opponent in your own blood!

wacko.gif




  Forum: By Share Code

macduffy
Posted on: Nov 24 2014, 06:02 PM


Group: Member
Posts: 2,379

Oh dear!

I'd almost managed to forget this saga. One that got away from us.

sadsmiley02.gif




  Forum: By Share Code

macduffy
Posted on: Aug 13 2014, 06:49 AM


Group: Member
Posts: 2,379

QUOTE
How is it possible to make an impairment charge which is greater than the carrying value of the asset being impaired?


Is there a contingent liability here that has to be provided for, greater than the carrying value of the impaired asset?




  Forum: By Share Code

macduffy
Posted on: Aug 7 2014, 01:04 PM


Group: Member
Posts: 2,379

Good to see that iGAS takeover will include a facility to sell small holdings. I'll be signing up!




  Forum: By Share Code

macduffy
Posted on: Jul 25 2014, 07:46 AM


Group: Member
Posts: 2,379

Wow, 2c after a 400 for 1 consolidation!

That's .00005c in the old money! Some sort of record?

unsure.gif




  Forum: By Share Code

macduffy
Posted on: Jul 21 2014, 12:22 PM


Group: Member
Posts: 2,379

Some good news at last!

http://www.asx.com.au/asxpdf/20140721/pdf/42qxs2fs8gxfzv.pdf







  Forum: By Share Code

macduffy
Posted on: Apr 23 2014, 07:01 PM


Group: Member
Posts: 2,379

This seems to be as pertinent to the BLT thread as a lot of recent posts!

http://news.theage.com.au/breaking-news-bu...0423-37341.html

blink.gif




  Forum: By Share Code

macduffy
Posted on: Apr 22 2014, 06:52 AM


Group: Member
Posts: 2,379

Recent reports of China getting serious about the 20% of its arable land contaminated by nickel, arsenic etc may result in less pig iron being produced and more demand for Australian nickel.

Disc: I hold small parcels of PAN and MCR.




  Forum: By Share Code

macduffy
Posted on: Feb 21 2014, 01:15 PM


Group: Member
Posts: 2,379

There's not a lot of comment about RKN these days with all the hype on XRO, but it's interesting that two directors have filed change of interest notices recently for shares bought on market. Particularly, Clive Rabie's additional 250,000.

cool.gif




  Forum: By Share Code

macduffy
Posted on: Feb 20 2014, 08:48 AM


Group: Member
Posts: 2,379

And a broker's comment on the result.

http://www.stuff.co.nz/business/industries...a-lift-for-Ebos

A company worthy of a bit more attention, IMO. But then, I hold!

smile.gif




  Forum: NZX

macduffy
Posted on: Feb 20 2014, 05:21 AM


Group: Member
Posts: 2,379

A good result from EBO for the half year. The acquisition of Symbion appears to be paying off!







  Forum: NZX

macduffy
Posted on: Feb 6 2014, 05:40 PM


Group: Member
Posts: 2,379

You're joking, aren't you, plastic!

MRK's M/Cap is around USD156b!

rolleyes.gif
  Forum: By Share Code

macduffy
Posted on: Jan 20 2014, 12:48 PM


Group: Member
Posts: 2,379

From FN Arena - if anyone's interested in GRR these days:

[/size]Macquarie ratesGRR as Outperform (1) - December quarter production was strong, aided by arecovery in grades and improved pellet premium. Macquarie notes the recovery atSavage River was faster than anticipated and 2014 production expectations havebeen upgraded.

The company is generating free cash flow at arate that, if maintained, could allow the cash balance to exceed current marketcapitalisation in less than a year, in Macquarie's estimation. Hence, thebroker believes there's upside risk to the 2c dividend forecasts, with the fullyear earnings to be released in late February.

The Outperform rating is maintained and the pricetarget is raised to 33c from 30c.

Target price is $0.33 Current Price is $0.24Difference: $0.09 If GRR meets the Macquarie target it will returnapproximately 38% (excluding dividends, fees and charges).

The company's fiscal year ends in December.Macquarie forecasts a full year FY13 dividend of 2.00 cents and EPS of 2.10cents . At the last closing share price the estimated dividend yield is 8.33%.

At the last closing share price the stock'sestimated Price to Earnings Ratio (PER) is 11.43.

Market Sentiment: 0.7

How do these forecasts compare to marketconsensus projections?

Current consensus EPS estimate is 3.4, implyingannual growth of 9.3%.Current consensus DPS estimate is 2.7, implying aprospective dividend yield of 11.1%.Current consensus price target is $ 0.30,suggesting upside of 23.6%(ex-dividends).Current consensus EPS estimatesuggests the PER is 7.1.

All consensus data are updated until yesterday.FNArena's consensus calculations require a minimum of three sources

[size="3"]
  Forum: By Share Code

macduffy
Posted on: Jan 17 2014, 10:20 AM


Group: Member
Posts: 2,379

Another strong quarter from this unloved, overlooked iron ore miner.

http://www.asx.com.au/asxpdf/20140117/pdf/42m55x81dng8jz.pdf



Yes, I hold a few.

cool.gif
  Forum: By Share Code

macduffy
Posted on: Dec 30 2013, 05:52 PM


Group: Member
Posts: 2,379

Shareprice given a helping hand today by Wise Owl's Buy recommendation to all and sundry! What will they say tomorrow?

unsure.gif
  Forum: By Share Code

macduffy
Posted on: Dec 21 2013, 04:43 PM


Group: Member
Posts: 2,379

I'm also more an investor than a trader. It's just that I don't think that Australian oil stocks, with a few exceptions, make very good investments. There always seems to be a new "promising" prospect to plough the available cash into!

rolleyes.gif
  Forum: By Share Code

macduffy
Posted on: Dec 21 2013, 08:25 AM


Group: Member
Posts: 2,379

Well, not quite, sharp. They did pay a 10cps "special" div two or three years ago but that was as a result of an asset sale. I thought they might do the same after the part sale of LLU, but it seems not.

With a few exceptions, I don't consider oilies for their dividends these days - strictly trading stocks for me!
  Forum: By Share Code

macduffy
Posted on: Dec 18 2013, 05:20 AM


Group: Member
Posts: 2,379

Put that way, razer, it sounds like SXY went out of its way to attract AWE to merge, offering a generous 43% of the merged company to AWE shareholders. Perhaps it was a lucky escape for SXY!

I hold AWE and aren't convinced by the above!

cool.gif
  Forum: By Share Code

macduffy
Posted on: Dec 10 2013, 09:42 AM


Group: Member
Posts: 2,379

Yes, hard times in the insurance business at present but the problem is as much low returns because of low interest rates as much as it is increased cost and incidence of claims. I don't see too many customers cancelling policies because of increased premiums when risks aren't reducing. Not holding any insurance stocks but QBE will be an interesting prospect when the interest rate cycle turns.
  Forum: By Share Code

macduffy
Posted on: Nov 29 2013, 11:49 AM


Group: Member
Posts: 2,379

So true, alonso.

I put NWE behind me after the Puffin fiasco and have never been tempted - at least by NWE! - again!

unsure.gif
  Forum: By Share Code

macduffy
Posted on: Nov 27 2013, 09:26 AM


Group: Member
Posts: 2,379

No - just can't be bothered responding to all the plastic rubbish that's thrown around!

As no-one else seems to be interested in FBU I'll be signing off from this thread.
  Forum: By Share Code

macduffy
Posted on: Nov 15 2013, 10:18 AM


Group: Member
Posts: 2,379

I've voted in favour of the current board too, triage. Other than proposing a new suite of directors, I don't see any evidence that New Hope offers any new hope - excuse the pun - by putting forward a new strategy or direction.
  Forum: By Share Code

macduffy
Posted on: Nov 8 2013, 05:52 AM


Group: Member
Posts: 2,379

Well done, mcart!

Personally, I've got my drilling money/hopes on HDX!

Cheers

smile.gif
  Forum: By Share Code

macduffy
Posted on: Oct 21 2013, 05:50 PM


Group: Member
Posts: 2,379

To be fair though, in the Sky News interview she was asked specifically about SPL's cancer drugs. A quick interview but I'd have to agree that this time "no news" probably means "no progress".
  Forum: By Share Code

macduffy
Posted on: Oct 8 2013, 09:04 AM


Group: Member
Posts: 2,379

Well!!!

It didn't take long for that little news item to bring forth the usual crop of mixed metaphors and dire predictions! However, the end of FBU as we know it still seems as far away as ever!

cool.gif
  Forum: By Share Code

macduffy
Posted on: Oct 8 2013, 05:53 AM


Group: Member
Posts: 2,379

"Construction at three and a half year high."


http://news.theage.com.au/breaking-news-bu...1007-2v2xs.html

cool.gif
  Forum: By Share Code

macduffy
Posted on: Oct 4 2013, 11:42 AM


Group: Member
Posts: 2,379

The last day today to subscribe to SLR's SPP at 85cps.

With the SP sitting at 75c it's hardly likely that anyone will be taking a punt through the issue.

unsure.gif
  Forum: By Share Code

macduffy
Posted on: Oct 4 2013, 10:44 AM


Group: Member
Posts: 2,379

From ShareCafe.

http://www.sharecafe.com.au/sharecafe.asp?a=AV&ai=27745
  Forum: By Share Code

macduffy
Posted on: Oct 2 2013, 12:55 PM


Group: Member
Posts: 2,379

Now, now, plastic. With the shareprice still around 12 months highs, I reckon your oft repeated reports of the death of FBU are still rather exaggerated.

rolleyes.gif
  Forum: By Share Code

macduffy
Posted on: Sep 10 2013, 06:51 AM


Group: Member
Posts: 2,379

TSE's SP recovered a little yesterday but concerns linger while they refuse to explain why their payments to sub contractors were delayed for so long.

http://www.stuff.co.nz/business/industries...ve-cost-25-jobs
  Forum: By Share Code

macduffy
Posted on: Sep 9 2013, 06:50 AM


Group: Member
Posts: 2,379

There are as many commentators predicting doom and gloom for the housing market as there are that take the view that demand for a limited stock of housing will cushion any downturn in that market, just as there are different views on FBU.

http://www.nzherald.co.nz/business/news/ar...jectid=11121489
  Forum: By Share Code

macduffy
Posted on: Sep 9 2013, 06:36 AM


Group: Member
Posts: 2,379

Macquaries' view is that NAB's SP is at a 20-30% discount to its peers.

http://www.macquarie.com.au/dafiles/Intern...d=ODcxNTY2NTUS1
  Forum: By Share Code

macduffy
Posted on: Sep 6 2013, 10:41 AM


Group: Member
Posts: 2,379

Further to previous post.....

http://www.stuff.co.nz/business/industries...r-late-payments
  Forum: By Share Code

macduffy
Posted on: Sep 6 2013, 10:13 AM


Group: Member
Posts: 2,379

News reports now have TSE saying that subbies will be paid within two business days.

We wait to find out whether this was a hiccup, as claimed, or something more serious.
  Forum: By Share Code

macduffy
Posted on: Sep 6 2013, 10:10 AM


Group: Member
Posts: 2,379

As an aside, Macquaries recently reported that the Rolling Yearly Performance of the big four's SP's were as follows:

CBA +33.1%

NAB +28.7%

WBC +27.1%

ANZ +19.9%

They have an "Outperform" on all except CBA (Neutral).
  Forum: By Share Code

macduffy
Posted on: Sep 5 2013, 06:15 PM


Group: Member
Posts: 2,379

Correct.

CBA reports as at 30 June, the other three as at 30 September.
  Forum: By Share Code

macduffy
Posted on: Sep 5 2013, 06:27 AM


Group: Member
Posts: 2,379

Probably a storm in a teacup but TSE under fire in NZ for tardy payments to sub-contractors.


http://www.stuff.co.nz/business/industries...rs-walk-off-job
  Forum: By Share Code

macduffy
Posted on: Sep 3 2013, 03:10 PM


Group: Member
Posts: 2,379

Just for the record:

No takeover of FBU: no breakup into business units; SP at $8 at a five year high.

cool.gif
  Forum: By Share Code

macduffy
Posted on: Aug 27 2013, 01:11 PM


Group: Member
Posts: 2,379

Macquaries rate IFL "Outperform".

http://www.macquarie.com.au/dafiles/Intern...d=ODU0MDU0ODcS1

Disc: I hold.
  Forum: By Share Code

macduffy
Posted on: Aug 27 2013, 09:44 AM


Group: Member
Posts: 2,379

Strong result from AWE, as expected.

http://asx.com.au/asxpdf/20130827/pdf/42hy4yylf323z5.pdf
  Forum: By Share Code

macduffy
Posted on: Aug 27 2013, 06:32 AM


Group: Member
Posts: 2,379

From the announcement:

"The network operator has a question mark hanging over its head as to how the regulatory landscape will change as the government considers whether to overrule the Commerce Commission's proposed price cuts on the company's regulated copper lines. Chorus says enforced price cuts may make its construction of a national fibre network uneconomic."

High yield, high risk?


cool.gif
  Forum: By Share Code

macduffy
Posted on: Aug 26 2013, 06:38 PM


Group: Member
Posts: 2,379

Perhaps.

But take a good look at the capex, past and projected. Fibre rollout is costing more than budgeted for.


http://www.nzherald.co.nz/business/news/ar...jectid=11111338
  Forum: By Share Code

macduffy
Posted on: Aug 13 2013, 06:13 AM


Group: Member
Posts: 2,379

No, not dead in the water - but definitely on the backburner meanwhile!

sad.gif
  Forum: By Share Code

macduffy
Posted on: Aug 12 2013, 03:30 PM


Group: Member
Posts: 2,379

Yes, most odd!

They all sing the same tune on the FBU thread, too!

cool.gif
  Forum: By Share Code

macduffy
Posted on: Aug 10 2013, 07:03 AM


Group: Member
Posts: 2,379

Contrary to the dire warnings of the doomsayers, FBU appear to have turned their Formica business around.

http://www.nzherald.co.nz/business/news/ar...jectid=10910777
  Forum: By Share Code

macduffy
Posted on: Aug 2 2013, 06:38 PM


Group: Member
Posts: 2,379

Comments on Mincor?

Ni price is depressed = MCR SP is too! The second follows closely on the first!

sad.gif
  Forum: By Share Code

macduffy
Posted on: Aug 2 2013, 06:42 AM


Group: Member
Posts: 2,379

Hard to follow some of that, for a layman investor!

I don't think anyone would deny that FBU has its problems with the Christchurch rebuild but some of those claims seem a bit extreme. eg. Taking down FBU? What does that mean? Echoes of Plastic's fantasies there!

tongue.gif
  Forum: By Share Code

macduffy
Posted on: Jul 31 2013, 03:32 PM


Group: Member
Posts: 2,379

Yes, I learnt the hard way the dangers of treating junior oilers as long term investments. Far too much risky for me, other than as short trades with tight stops.
  Forum: By Share Code

macduffy
Posted on: Jul 31 2013, 01:07 PM


Group: Member
Posts: 2,379

I'm not surprised that market interest is low in PPP at present. After all, shareholders have just seen their hopes dashed in the latest dry hole (Vietnam). I'd wait a little to see if expectations rise leading up to the next (Tui, NZ).

cool.gif
  Forum: By Share Code

macduffy
Posted on: Jul 25 2013, 07:09 AM


Group: Member
Posts: 2,379

A pretty good quarterly from GRR, all things considered. Now getting a bit of a tail wind from a weaker AUD, high quality ore and solid balance sheet.

http://asx.com.au/asxpdf/20130724/pdf/42h73lthjtx2km.pdf
  Forum: By Share Code

macduffy
Posted on: Jul 23 2013, 05:56 AM


Group: Member
Posts: 2,379

I'd be a bit cautious about linking ALQ (ALS) and DTE too closely.

ALQ has a history of growth by acquisition - over 20, I think, in the last 7 or so years - and have had a well known objective to diversify their strong position in metals analysis by expansion in the oil and gas sector.

I hold both, so hope you're onto something in linking them - but I very much doubt it.

Cheers
  Forum: By Share Code

macduffy
Posted on: Jul 17 2013, 12:21 PM


Group: Member
Posts: 2,379

It's not really strange. I've had a few over the years but usually in relation to takeovers, the odd one in relation to a cash issue.
Could have been the underwriters trying to get a line on their likely outlay!
  Forum: By Share Code

macduffy
Posted on: Jul 16 2013, 07:05 AM


Group: Member
Posts: 2,379

Interesting quarterly reports there.

GBG made 11 magnetite shipments and 12 hematite DSO shipments during the quarter but didn't receive any "receipts for sales". Seems a pretty generous deferred payment arrangement but perhaps that's usual in the iron ore trade? Or have the proceeds been directed to reduction of loans?
  Forum: By Share Code

macduffy
Posted on: Jul 13 2013, 11:21 AM


Group: Member
Posts: 2,379

Now, that's a very far fetched scenario!

The Maxwell business centred around fraudulent activity involving the undisclosed transfer of funds from the pension fund to the business. GPG's problem is that with low interest rates it is required to keep tipping money into the pension fund to keep the fund's liabilities adequately funded. Entirely different situations.

Not a happy problem for GPG or its shareholders but hardly one that is likely to spell the end of GPG. Instead, that is being engineered by the company, with the approval of shareholders, and will probably result in the listing of Coats as a standalone company.

Disc: Not a current shareholder.
  Forum: By Share Code

macduffy
Posted on: Jul 11 2013, 12:15 PM


Group: Member
Posts: 2,379

No, not the big one - but good news nevertheless.

http://asx.com.au/asxpdf/20130711/pdf/42gzx1wr53q50d.pdf
  Forum: By Share Code

macduffy
Posted on: Jul 10 2013, 06:27 PM


Group: Member
Posts: 2,379

DYE in a trading halt pending an announcement.

Could this be the one?


unsure.gif
  Forum: By Share Code

macduffy
Posted on: Jun 10 2013, 06:15 PM


Group: Member
Posts: 2,379

QUOTE
If they are why isn't it disclosed?


Well, let's first determine if indeed "they" are before jumping to any more wild conclusions based on unproven assumptions?

And the "Sino" involvement in all this is........,.?

icon14.gif
  Forum: By Share Code

macduffy
Posted on: May 16 2013, 01:24 PM


Group: Member
Posts: 2,379

Yes, they've sold plenty!

But if anyone should have a feel for what the company's worth............


cool.gif
  Forum: By Share Code

macduffy
Posted on: May 14 2013, 07:23 PM


Group: Member
Posts: 2,379

Beware of the SPP at 16.6c announced today. Record date 28 February.



unsure.gif
  Forum: By Share Code

macduffy
Posted on: May 10 2013, 06:04 PM


Group: Member
Posts: 2,379

Hi plastic. I see you've dusted off that old long bow again. How about a bit more detail regarding this supposed "coincidence"?

rolleyes.gif
  Forum: By Share Code

macduffy
Posted on: Apr 29 2013, 06:58 AM


Group: Member
Posts: 2,379

Still a long way to go though before any of that resource translates into a mineable reserve, let alone proves to be a worthwhile project to proceed. Meanwhile, PAN remains hostage to the PoN and will do well to break even at current prices and not spend all that hard earned cash on "new projects".
  Forum: By Share Code

macduffy
Posted on: Apr 11 2013, 06:17 PM


Group: Member
Posts: 2,379

BPT has had two days of good SP rises followed by a mere 1c correction today, plus the fact that the market gets much more excited about new discoveries than sales of existing reserves. In the context of the Aust oilies sector BPT has performed pretty nicely of late.

cool.gif
  Forum: By Share Code

macduffy
Posted on: Apr 8 2013, 09:47 AM


Group: Member
Posts: 2,379

I've lost count of the number of times that FBU was going to merge with BLD or CSR or buy out one or more of their units or sell them something!

They operate in a cyclical business and all firms are finding it tough at present. But FBU are profitable, well capitalised and hold good positions in their main market segments. No doubt there will be some further corporate moves in future years but talk of their demise is, as usual, premature!

rolleyes.gif
  Forum: By Share Code

macduffy
Posted on: Apr 3 2013, 06:12 PM


Group: Member
Posts: 2,379

Companies at that stage of development have a voracious appetite for cash! The good news is that it delays the time when they need to come back to shareholders for a top-up!

cool.gif
  Forum: By Share Code

macduffy
Posted on: Apr 3 2013, 05:37 PM


Group: Member
Posts: 2,379

But maybe more speculative than ridiculous. BND is still a long way from production - company is working on 2015 for that. Meanwhile, that cash isn't for paying out to shareholders - exploration and development costs plenty before anything is left for dividends. Seems that the market is playing it safe in the uncertain climate for future coal prices.

unsure.gif
  Forum: By Share Code

macduffy
Posted on: Apr 3 2013, 05:21 PM


Group: Member
Posts: 2,379

QUOTE
until this trend changes this will become the norm.



Sort of like "rapid progress will be slow"?

Sorry, couldn't resist!

blink.gif
  Forum: By Share Code

macduffy
Posted on: Mar 26 2013, 10:47 AM


Group: Member
Posts: 2,379

QUOTE
wait and see if $5 holds




Now, that's a better idea!

Not too many buy in at the lowest price. Far better to see an upward trend develop than to risk further slippage. Just IMO, of course.

cool.gif
  Forum: By Share Code

macduffy
Posted on: Mar 19 2013, 11:59 AM


Group: Member
Posts: 2,379

Now, that's odd.

Wasn't Dart formed to take over Arrow's CSG assets outside Australia?

Isn't NSW notoriously antagonistic towards CSG exploration - drilling in particular?

What will it cost DTE to "take over" those assets?

Reassuring answers gratefully accepted.

unsure.gif
  Forum: By Share Code

macduffy
Posted on: Mar 17 2013, 06:07 AM


Group: Member
Posts: 2,379

Fancy that!

Sun Tzu knew about stop-loss orders - all those years ago!



rolleyes.gif
  Forum: By Share Code

macduffy
Posted on: Mar 15 2013, 02:39 PM


Group: Member
Posts: 2,379

QUOTE
Why else would they call a trading halt ?




Because reports can be one of two kinds. Exciting or .......disappointing.

Hoping for the former.
  Forum: By Share Code

macduffy
Posted on: Mar 8 2013, 12:30 PM


Group: Member
Posts: 2,379

Not necessarily relevant to that change of substantial shareholdings but I note that Macquaries are still precluded from making a recommendation on RDF. There was the failed t/o attempt by Macquarie interests a couple of years ago, of course, and it may be only that they are still substantial shareholders or that they are corporate advisers to the company. Or there may be another reason..........

unsure.gif
  Forum: By Share Code

macduffy
Posted on: Feb 28 2013, 02:02 PM


Group: Member
Posts: 2,379

Yes, MCR in particular is the other Ni stock to consider alongside PAN. They both manage the down times fairly well and thrive when the Price of Ni is (was) strong. PAN's production runs at almost twice that of MCR - 9236t v 5036t in the last half although cash costs were higher at $6.71 v $5.07. Perhaps too much shouldn't be read into those cost numbers as they tend to move around a fair bit from quarter to quarter. M/Caps are roughly equal around the $100m+ mark and both made a loss in the half, MCR -$2.2m, PAN -$13m. Both pay small interim divs and yields are similar. Both hold healthy cash balances and should be able to survive the current price cycle, so long as they don't go overboard on acquisitions or exploration spending.

MCR have their future prospects in (mainly) gold exploration in PNG. PAN's are perhaps a bit closer to realisation.

I find it difficult to prefer one over the other so have a small bet on each!
  Forum: By Share Code

macduffy
Posted on: Feb 28 2013, 10:58 AM


Group: Member
Posts: 2,379

Biggest negative, IMO, is that they are 100% reliant on the Ni market, which has been weak for longer than I care to remember and doesn't look like making a quick comeback. As soon as there's a sign of life it seems that the Chinese producers increase production of their lower quality product and the market slips again!

PAN have diversification plans - gold, PGM's - but the Gidgee gold project is still a year or two away from production, and of course gold isn't exactly flavour of the month either. It's a well-run company but a bit early to be getting enthusiastic about them, I would think.
  Forum: By Share Code

macduffy
Posted on: Feb 25 2013, 11:26 AM


Group: Member
Posts: 2,379

And why not?

I would imagine that BHP isn't the only big company involved in the shale scene in the USA these days.


cool.gif
  Forum: By Share Code

macduffy
Posted on: Feb 4 2013, 05:47 PM


Group: Member
Posts: 2,379

http://www.bloomberg.com/news/2013-02-03/s...ning-sales.html



No comment needed!


sadsmiley02.gif
  Forum: By Share Code

macduffy
Posted on: Jan 18 2013, 05:23 AM


Group: Member
Posts: 2,379

QUOTE
yeah nipper, i just heard news. he did bad bad job for that alcan, apart from that, he seems ok to me. not sure why all of sudden they want him out now??
my guess is pay dispute!! unsure.gif



I guess someone's head had to roll after a $14b writedown!

RIO's way of telling the market that things will change.

rolleyes.gif
  Forum: By Share Code

macduffy
Posted on: Jan 14 2013, 04:32 PM


Group: Member
Posts: 2,379

And from the SMH:

http://news.smh.com.au/breaking-news-busin...0114-2cpbj.html
  Forum: By Share Code

macduffy
Posted on: Dec 31 2012, 02:00 PM


Group: Member
Posts: 2,379

Spot on, Pannob!

It's quite obvious when you make that big jump in logic!

biggrin.gif
  Forum: By Share Code

macduffy
Posted on: Dec 11 2012, 03:27 PM


Group: Member
Posts: 2,379

I've just read George Jones' explanation for the share placement to "institutions". Can't say I'm satisfied with the excuses put forward. As a minimum, shareholders should be told who the parties were who participated in the placement - and what attempts were made to ascertain whether an issue or placement at a higher price would have been supported.
  Forum: By Share Code

macduffy
Posted on: Dec 8 2012, 12:36 PM


Group: Member
Posts: 2,379

It's not a case of being "happy to let everyone know......."

Directors are required to disclose buying and selling. And I'm sure you knew that.


rolleyes.gif
  Forum: By Share Code

macduffy
Posted on: Dec 5 2012, 11:57 AM


Group: Member
Posts: 2,379

Confirmation of Grants as major iron ore discovery.

http://www.asx.com.au/asxpdf/20121205/pdf/42bqznjy47lpjp.pdf


Yesterday's 17% SP rise just a lucky coincidence!


rolleyes.gif
  Forum: By Share Code

macduffy
Posted on: Dec 5 2012, 06:07 AM


Group: Member
Posts: 2,379

So what's going on?

SP up 17% yesterday on lowish turnover. No announcement from the company but surely a "please explain" from the ASX today?



unsure.gif
  Forum: By Share Code

macduffy
Posted on: Nov 30 2012, 11:10 AM


Group: Member
Posts: 2,379

Yes, very disappointing. And so much for the upbeat press releases lately although I suppose they did their bit in supporting the SP from further drops!

No doubt the company will plead, if pressed, that this is a cost effective way of raising the necessary - but not encouraging for any small shareholders who now see their interest diluted.


thumbdown.gif
  Forum: By Share Code

macduffy
Posted on: Nov 21 2012, 05:49 AM


Group: Member
Posts: 2,379

Ah! An interesting "contest" for the rest of us to watch and wonder at.

Now I realise that these are purely short term trading positions but when I saw wren's earlier post I wondered whether the FA "picture" supported his view or not. My quick assessment couldn't add any weight from that angle - but we'll have to wait and see!


cool.gif
  Forum: By Share Code

macduffy
Posted on: Nov 20 2012, 12:12 PM


Group: Member
Posts: 2,379

An unexpectedly upbeat tone from FBU sends the SP to a 12 month high.

http://www.nzherald.co.nz/business/news/ar...jectid=10848707


smile.gif
  Forum: By Share Code

macduffy
Posted on: Nov 19 2012, 11:46 AM


Group: Member
Posts: 2,379

Yes, I saw that earlier today. Given that Cannacord have been involved in a previous HAV capital raising - perhaps still have an underwriting shortfall on their books? - I'd be inclined not to put too much weight on their recommendation. Although perhaps a bit surprising that it wasn't a Buy rather than a Hold?
  Forum: By Share Code

macduffy
Posted on: Nov 16 2012, 03:26 PM


Group: Member
Posts: 2,379

Just a hunch but I think the market is waiting to see MAD increase its production. Great to have the 2P reserves but they seem to also have some difficulty in actually pumping the goods.

unsure.gif

PS The burden of being Motley Fools' "big pick" and the meteoric SP rise that followed are perhaps also weighing heavily at present.
  Forum: By Share Code

macduffy
Posted on: Nov 15 2012, 11:06 AM


Group: Member
Posts: 2,379

First Karara magnetite concentrate!

http://asx.com.au/asxpdf/20121115/pdf/42b6v03dd6ll20.pdf


smile.gif
  Forum: By Share Code

macduffy
Posted on: Nov 12 2012, 12:38 PM


Group: Member
Posts: 2,379

Will cost QBE USD450m according to the SMH.

http://www.smh.com.au/business/banking-and...1112-2978l.html
  Forum: By Share Code

macduffy
Posted on: Nov 6 2012, 05:30 PM


Group: Member
Posts: 2,379

You'd better believe it, plastic. The game's now well and truly over.

Had you forgotten that John Key is a politician?


wink.gif
  Forum: By Share Code

macduffy
Posted on: Nov 5 2012, 01:54 PM


Group: Member
Posts: 2,379

I've just had a look at DYE's Sept quarter report. Couldn't see the words, "Wales", "Tata" or "Pilkington" anywhere. Unless I've missed something, that doesn't bode well, I fear.

unsure.gif
  Forum: By Share Code

macduffy
Posted on: Nov 3 2012, 11:06 AM


Group: Member
Posts: 2,379

You may well be right on some of these speculations. The building products sector certainly appears ripe for restructure/consolidation.

Note, though, that RIO owns the Tiwai Point smelter - not BHP.
  Forum: By Share Code

macduffy
Posted on: Nov 3 2012, 10:00 AM


Group: Member
Posts: 2,379

QUOTE
Probably not the best choice of words but what I mean is, the takeover bid will never materialize successfully as a completed takeover.


I suppose "completed takeover" is meant to mean 100% ownership by Haier?

Now 73% accepted; Haier have stated that price is final; still an option to extend beyond 5 November. Looks like game over for all intents and purposes but I suppose there will be a few shareholders who either don't mind becoming locked in, or won't know that they are. Unless the magic 90% is achieved, of course!
  Forum: By Share Code

macduffy
Posted on: Oct 30 2012, 04:14 PM


Group: Member
Posts: 2,379

QUOTE
Why are the Americans the largest shareholders in FBU? JP Morgans holding about 40% or more. Not a china man to be seen anywhere.


Plastic's post of 22 Oct above.

So the 40% is being massaged back to 20%? I'm sure also that Hugh Fletcher would be flattered that someone thinks he has as much influence over Citi as is being claimed.

biggrin.gif
  Forum: By Share Code

macduffy
Posted on: Oct 30 2012, 02:26 PM


Group: Member
Posts: 2,379

Chasing at shadows again, plastic?

Nothing to do with SLA of course. The place for that speculation was the ADO thread.

rolleyes.gif
  Forum: By Share Code

macduffy
Posted on: Oct 29 2012, 01:39 PM


Group: Member
Posts: 2,379

Very odd. DYE's major partners Tata and Pilkington involved in a dye coated solar power initiative in Wales - without DYE!


unsure.gif
  Forum: By Share Code

macduffy
Posted on: Oct 25 2012, 10:39 AM


Group: Member
Posts: 2,379

Quarterly report due soon. Wouldn't be some good news?

cool.gif


Later: Thanks, triage, that seems to be it!
  Forum: By Share Code

macduffy
Posted on: Oct 24 2012, 10:09 AM


Group: Member
Posts: 2,379

Getting into the swing of things now. Second shipment made and two more scheduled before the end of the month.

http://asx.com.au/asxpdf/20121024/pdf/429m25tx2g1kkp.pdf



smile.gif
  Forum: By Share Code

macduffy
Posted on: Oct 23 2012, 12:11 PM


Group: Member
Posts: 2,379

Putting aside the historical piece involving Brierley, what exacting has Iress written or said that leads you to your belief that "Morgans" have control of 40% of FBU? Apart from anything else, it would constitute a breach of disclosure rules concerning substantial holders.
  Forum: By Share Code

macduffy
Posted on: Oct 22 2012, 06:02 PM


Group: Member
Posts: 2,379

What is the source of your information, plastic?

The last Annual Report showed the only substantial holder to be The Capital Group Companies Inc with about 5%. A notice was lodged on 19 October to the effect that The Income Fund of America A/c of the above ceased to be a substantial holder on 17 Oct. The shares were held by J.P. Morgan Chase Bank as nominee. Plenty of scope for double or triple counting there!

As one of only a few NZ companies of any size and with ADR's traded in the USA its not surprising that FBU shares have many USA shareholders from time to time, particularly when the NZD is in demand. But where does "Morgan's 40%" number come from?
  Forum: By Share Code

macduffy
Posted on: Oct 22 2012, 10:22 AM


Group: Member
Posts: 2,379

Company announcement re media article.

http://asx.com.au/asxpdf/20121022/pdf/429jxt0g742l97.pdf
  Forum: By Share Code

macduffy
Posted on: Oct 18 2012, 11:45 AM


Group: Member
Posts: 2,379

QUOTE
Takeover bid will never materialize. Never. Ever.


So much for that!

FPA directors recommend Haier's increased offer of $1.28.


cool.gif
  Forum: By Share Code

macduffy
Posted on: Oct 16 2012, 12:51 PM


Group: Member
Posts: 2,379

Still on about the forthcoming M&A activity involving FBU and CSR, I see!

First raised 4 or 5 years ago but nothing seems to eventuate. Probably tied up with the speculation re a change of name for FBU. What do "the drums" say about that, I wonder?

rolleyes.gif
  Forum: By Share Code

macduffy
Posted on: Oct 13 2012, 09:16 AM


Group: Member
Posts: 2,379

Should we be surprised that gold contributed only $3.7m of the total $50m revenue earned for the period? I had the impression that Kanmantoo was a relatively gold-rich copper/gold deposit.
Big start-up costs during the 6 months, of course, but the challenge now is to get costs under control and turn that loss into a profit!
  Forum: By Share Code

macduffy
Posted on: Oct 11 2012, 10:51 AM


Group: Member
Posts: 2,379

Well, it seems that the directors have some faith in their company. The last four disclosures have been of directors buying shares on-market.

Disc: I don't hold BTA.
  Forum: By Share Code

macduffy
Posted on: Oct 11 2012, 08:13 AM


Group: Member
Posts: 2,379

Significant increase in reserves at Buller Coal Project.

http://asx.com.au/asxpdf/20121011/pdf/4299jvfmn97sjn.pdf
  Forum: By Share Code

macduffy
Posted on: Oct 1 2012, 11:48 AM


Group: Member
Posts: 2,379

It shouldn't come as a surprise that:

- Junior biotech companies without income earning products (other than interest on deposits!), make losses.

- They run low on cash and need to raise new equity ( not a great lending proposition for a financier!).

- Need to price the new shares at a discount to attract investors ( not easy to convince existing investors to stump up with more).

Anyone not understanding this shouldn't bother with the sector, IMO.


Disc: Not holding PBT.
  Forum: By Share Code

macduffy
Posted on: Sep 24 2012, 12:25 PM


Group: Member
Posts: 2,379

NUF back in profit to the tune of $72.6m. 3cps dividend.

http://www.smh.com.au/business/nufarm-retu...0924-26fx2.html


smile.gif
  Forum: By Share Code

macduffy
Posted on: Sep 23 2012, 07:22 AM


Group: Member
Posts: 2,379

Probably just a result of Hugh turning 65 and picking up National Superannuation!

smile.gif

But seriously, I don't see a name change coming up. The Fletcher name long pre-dates Hugh and still has a lot of value in business. Replace it with some meaningless made up faux moniker? I don't think so.
  Forum: By Share Code

macduffy
Posted on: Sep 22 2012, 06:49 AM


Group: Member
Posts: 2,379

From the Business Spectator:

"The opening of Gindalbie Metals' port terminal in Geraldton yesterday lit a small flame of hope in the gloom surrounding iron ore mining in Australia's mid-west.

The port terminal's opening at Geraldton Port signifies one of the last hurdles before Gindalbie's Karara iron ore project becomes Western Australia's first fully-operational magnetite iron ore mine.


In the broader context of Western Australia's iron ore output, Karara's expected stage-one production of 10 million tonnes per annum seems piddly compared to the low-cost, high-volume hematite projects of BHP Billiton, Rio Tinto and Fortescue Metals. But there are some noteworthy points of difference between the iron ore miners of the mid-west and their Pilbara counterparts.

The gloomy outlook for the Oakajee Port and Rail project and recent fall in the iron ore price has dominated the conversation around the prospects of iron ore mining in the mid-west, and led to a far more uncertain outlook for the region's smaller, less advanced miners than those in the Pilbara.

It would seem that if Andrew Forrest and Australia's third-biggest miner Fortescue were in such trouble because of the recent drop in the iron ore price, then all those smaller miners further south must be shot.

OPR was initially scheduled to be complete by 2014, but the project has been in beleaguered for some time. This was magnified when Murchison Metals sold its stakes in OPR and Crosslands Resources – which is responsible for developing the expansion of Jack Hills – to Mitsubishi for $325 million in November last year. And with the current volatility in the iron ore price, no one seems willing to take a punt as to when Oakajee might, if ever, be completed.

This means the futures of two of the mid-west's bigger Oakajee-dependent projects, Jack Hills and Chinese company Sino Steel's Weld Range, are impossible to predict.

But Karara is a little different and a closer look at the project's make-up sheds a small light on an otherwise dark horizon for mid-west iron ore.

First of all, unlike many other projects in the region, which are still in their early stages or require further financial backing or infrastructure, it has managed beat the recent downturn in the iron ore price and is already producing and hauling iron ore to Geraldton Port. The first shipment of magnetite concentrate is scheduled for the December quarter.

Simply put, hematite, or 'direct shipping ore' is what most of the Pilbara miners dig up and has a higher iron content in its natural state, making it cheaper to produce. The highest grade DSO mined by Rio Tinto and BHP has an iron content of about 62 per cent. Fortescue and Atlas iron produce slightly lower grades of hematite and get paid accordingly.

On the other hand, magnetite has quite a low iron content when the ore is first mined and requires a more intensive milling process, but the resulting magnetite concentrate, with an iron content of between 65 and 70 per cent, sells at a premium.

Gindalbie spokesman Michael Weir told Business Spectator that the miner is expecting magnetite to become a niche market in the medium to long-term because Chinese steel mills require less energy to process it, its higher grade content means more steel per tonne and because its processing uses less coal it produces less carbon emissions than hematite over the its lifecycle from mine to finished steel.

The number of directly owned Chinese companies or Chinese-backed projects in the mid-west seems to support Weir's point of view.

Karara is a 50-50 joint venture between Gindalbie and Ansteel, one of China's largest steel mill owners. In fact, Ansteel has signed an off-take contract for the entire 50-plus year life of Karara meaning it will buy all the iron ore it produces at market prices.

Weir said that Gindalbie forecasts its production cost will be around $65-$68 per tonne, but that these projections were 15 months ago and don't factor in the carbon tax.

Patersons Securities resources analyst Tim McCormack said he thought Gindalbie's cost projections are "ambitious".

However, analyst expectations for Karara's output centre around its magnetite concentrate yielding a fixed 15-20 per cent premium on the spot iron ore price, which could be advantageous as the quality of existing hematite deposits diminish.

The total cost of the first stage of the mine was $2.57 billion, of which 90 per cent was spent in Australia and $250 million just in the mid-west. So the total spend to this stage was a significant boon to Geraldton's economy, which has a total output of about $4.5 billion a year.

As we've seen recently though, the iron ore price is everything in the current high-cost caper and Patersons' McCormack said a price of $US120 per tonne and above was about the figure that Karara and other prospective iron projects in the region would be hoping for in order to make a real fist of things.

Given Karara's second stage is expected to yield upward of 30 Mtpa, the mid-west region will be hoping the price is right.

"I think there's been a lot of sceptics out there but I think this is showing the mid-west is developing," Weir said.

He might be right, but with Karara the exception to the rule and many of Geraldton's growth prospects hinging on the success of iron ore mining in the region, it wouldn't take much to snuff out the flame."


  Forum: By Share Code

macduffy
Posted on: Sep 18 2012, 11:30 AM


Group: Member
Posts: 2,379

Disappointing that no real progress has been made on the Kalkaroo sale issue. Seems those sellers might have known a thing or two!

unsure.gif

http://asx.com.au/asxpdf/20120918/pdf/428sc5msvs8n12.pdf


Nevertheless, the resource is still there and the announcement might now offer a buying opportunity.
  Forum: By Share Code

macduffy
Posted on: Sep 8 2012, 03:01 PM


Group: Member
Posts: 2,379

Yes, rather amazing when one considers that the SIR MCap is now more than the combined valuations of two actual nickel producers, MCR and PAN!

Reminiscent of that other little Ni company of the 1960/70's?

cool.gif
  Forum: By Share Code

macduffy
Posted on: Sep 6 2012, 06:31 AM


Group: Member
Posts: 2,379

Some timely encouragement (pressure?) from BTU.

http://www.stuff.co.nz/business/industries...e-ready-to-hire
  Forum: By Share Code

macduffy
Posted on: Sep 5 2012, 04:10 PM


Group: Member
Posts: 2,379

Just that anything associated with mining is getting smashed.

Overdone, IMO, but I'll wait for the carnage to settle before adding to my holding.

cool.gif
  Forum: By Share Code

macduffy
Posted on: Sep 5 2012, 12:18 PM


Group: Member
Posts: 2,379

So why would you want to buy now while there is still a chance it will fall further? Why not wait for it to make a floor? The Chinese aren't going to suddenly turn around and bid up the price of iron ore - at least not so quickly that there won't be time to get set in AGO, if that's the plan!

cool.gif
  Forum: By Share Code

macduffy
Posted on: Sep 3 2012, 04:45 PM


Group: Member
Posts: 2,379

Cheer up, nasty.

Iron ore is just like any other mineral. It has its ups and downs, pricewise. Miners are for trading, IMO, not as longterm holds, although it took me many years to accept this!

cool.gif
  Forum: By Share Code

macduffy
Posted on: Sep 3 2012, 06:58 AM


Group: Member
Posts: 2,379

Nothing to write home about, was it?

Production, NPAT well down on the previous year; Operating cashflow down from $41.2m to just $11.8m despite continuing high oil prices and OK gas prices. Biggest worry, to my mind, is the reference to "natural reservoir decline" as one of the reasons for lower production.

I decided many years ago that oilies are't investments - except possibly WPL - but they can be great trades if bought and sold at the right time. I'll watch CUE but I'd want to see some upward market momentum before taking a punt.
  Forum: By Share Code

macduffy
Posted on: Aug 30 2012, 03:40 PM


Group: Member
Posts: 2,379

He's talking about "mining investment" which will stay strong for a couple of years because of commitments already made and projects already started. That won't have a lot of influence on metal prices in the short term but in the longer term could be a negative as more capacity comes on stream. Expect a degree of mothballing of the less economic operations and deferment of expansion plans.
  Forum: By Share Code

macduffy
Posted on: Aug 30 2012, 03:29 PM


Group: Member
Posts: 2,379

QUOTE
Totally unrelated to BLT


Yes, there's been a lot of that on this thread lately!


cool.gif
  Forum: By Share Code

macduffy
Posted on: Aug 29 2012, 05:45 PM


Group: Member
Posts: 2,379

Yes, "history" might be a bit extreme.

Not saying that there mightn't be more downside but to consign a company still with a market cap of over $1.3billion, to history, sounds like someone talking a short book!

cool.gif
  Forum: By Share Code

macduffy
Posted on: Aug 28 2012, 01:11 PM


Group: Member
Posts: 2,379

Canaccord have the mandate to place the shortfall from the recent issue, as disclosed, so we would expect them to be very positive about the company and its assets. Interesting that they too highlight the company's inability to create a better public perception of HAV's prospects with resultant market underperformance. Low recent volumes and continuing lack of interest indicate that little has been done to change this.
  Forum: By Share Code

macduffy
Posted on: Aug 28 2012, 12:49 PM


Group: Member
Posts: 2,379

Wall Street Journal speculates on a possible cash raising.

http://blogs.wsj.com/dealjournalaustralia/...to-raise-funds/
  Forum: By Share Code

macduffy
Posted on: Aug 28 2012, 10:46 AM


Group: Member
Posts: 2,379

So much for the theory that the growth of the internet would make FLT's business model obsolete. NPAT up another 43% this year!

http://www.smh.com.au/business/earnings-se...0828-24x8w.html
  Forum: By Share Code

macduffy
Posted on: Aug 28 2012, 08:21 AM


Group: Member
Posts: 2,379

FWIW, last year's result was released on 1 September. Can't be far away now!
  Forum: By Share Code

macduffy
Posted on: Aug 27 2012, 01:31 PM


Group: Member
Posts: 2,379

Wow! Great news!

At least the publicity and signage people will think so. Makes about as much sense as the recent change of NZ Refining to Refining NZ!


rolleyes.gif
  Forum: By Share Code

macduffy
Posted on: Aug 20 2012, 12:31 PM


Group: Member
Posts: 2,379

Ok, this has become an illuminating thread on the pros and cons of full time trading but does anyone other than slayer have anything to say about ADO?

By the way, thanks, slayer.

smile.gif
  Forum: By Share Code

macduffy
Posted on: Aug 15 2012, 02:01 PM


Group: Member
Posts: 2,379

SMH reckon OZL profit beat analysts' expectations but the SP still down 7.7% on the day!

http://www.smh.com.au/business/earnings-se...0815-247iw.html

More likely, IMO, are the impacts of lower price of copper, lower grades and higher costs - all current and in the near future.
  Forum: By Share Code

macduffy
Posted on: Aug 3 2012, 12:18 PM


Group: Member
Posts: 2,379

Ernest Albers, long-time oil co investor and company director, currently Executive Chairman of Octanex (OXX) and Moby Oil. Held less than one percent of CUE at last balance date (0.58%) - no reason to think that he has been selling as far as I can tell.

CUE is "dominated" by NZ private oil co Todd Petroleum with 23.4%, and Singapore Petroleum with 16.5%. Gets a small slice of Todd's action often - for better or worse!
  Forum: By Share Code

macduffy
Posted on: Aug 2 2012, 10:01 AM


Group: Member
Posts: 2,379

Yes, mentioned in the June quarterly report that legal action is being taken to recover a $300,000 loan.

http://www.asx.com.au/asxpdf/20120730/pdf/427pkkrfqqf5x0.pdf
  Forum: By Share Code

macduffy
Posted on: Aug 1 2012, 01:19 PM


Group: Member
Posts: 2,379

flower has a point, though. Given the state of the market and the PoG, investors are looking for a bit more certainty these days. And I'm not sure that "artificially" is the correct word in this instance. Surely, "temporarily" fits the situation as these higher costs will be "actual" and be around until December, in the company's current expectations?

Disc: Not holding.
  Forum: By Share Code

macduffy
Posted on: Jul 18 2012, 01:11 PM


Group: Member
Posts: 2,379

QUOTE
What the hell is wrong with csr?


It's not just CSR but the entire building products sector.Take a look at BLD for example.
  Forum: By Share Code

macduffy
Posted on: Jul 16 2012, 03:38 PM


Group: Member
Posts: 2,379

Thanks, chuk.

I've looked at the GATA website but still not clear to me who these people are nor what their motivation is. But you're right, this diversion from discussion of ABU as an investment has gone on long enough.

Cheers.
  Forum: By Share Code

macduffy
Posted on: Jul 16 2012, 02:53 PM


Group: Member
Posts: 2,379

Not arguing about anything that took place 1999-2002. What's the evidence that the PoG is currently being manipulated?

Or is that just a hunch because it would account for today's depressed, sluggish price ?
  Forum: By Share Code

macduffy
Posted on: Jul 16 2012, 01:10 PM


Group: Member
Posts: 2,379

QUOTE
Central banks often try to manipulate their own currencies and very openly.
Why do you think Gold price manipultion is not happening?

Yes, central banks certainly buy and sell their own currencies, typically selling when they reckon theirs is overvalued. Consensus seems to be that this can be a risky move without very deep pockets, especially for the weaker currencies/countries. But there is a national economic rationale to this. What is the rationale for manipulation of the PoG by central banks? - as distinct from selling to bolster currency reserves or buying to invest surplus currency reserves?

And remember, I asked for evidence of PoG manipulation - it's not for me to disprove it!

cool.gif
  Forum: By Share Code

macduffy
Posted on: Jul 16 2012, 10:39 AM


Group: Member
Posts: 2,379

Any credence given to this theory on the "sluggish" PoG?

http://www.thebull.com.au/premium/a/29767-...ous-metals.html
  Forum: By Share Code

macduffy
Posted on: Jul 16 2012, 09:55 AM


Group: Member
Posts: 2,379

So the price of gold is being manipulated.

And what about iron ore, nickel,oil,copper etc? All well off their highs. Is it possible that world economies are faltering and that the demand, at higher prices, just doesn't exist now?

What's the proof around the manipulation of the PoG in particular?
  Forum: By Share Code

macduffy
Posted on: Jul 11 2012, 03:52 PM


Group: Member
Posts: 2,379

Thanks, hungry.

Yes, I was aware of the Dan Murphy etc interest but didn't think there was enough in liquor to cause them to further that investment while they - presumably - have so much to spend on the hardware adventure. An indication that cashflow isn't a problem!
  Forum: By Share Code

macduffy
Posted on: Jul 11 2012, 01:25 PM


Group: Member
Posts: 2,379

I seem to have missed something here. Why is WOW so keen to buy pubs?

http://www.smh.com.au/business/property/wo...0710-21txj.html



blush.gif
  Forum: By Share Code

macduffy
Posted on: Jul 10 2012, 01:47 PM


Group: Member
Posts: 2,379

Fully aware of that, wolvy.

I'm just fuming a bit that (a) it's a placement and not a rights issue and (b) I should have cut my losses on this poorly managed company. All my own fault!

mad.gif
  Forum: By Share Code

macduffy
Posted on: Jul 10 2012, 01:33 PM


Group: Member
Posts: 2,379

So much for first informing the market via ASX announcements!

Oh well, at least the trading halt was called but I'm starting to edge into diana's camp as far as this company is concerned!

mad.gif
  Forum: By Share Code

macduffy
Posted on: Jul 10 2012, 12:55 PM


Group: Member
Posts: 2,379

Reserving my judgement until we know

- What sort of issue? Rights or placement or what?

- What's the cash needed for? Big new project or running expenses?

unsure.gif
  Forum: By Share Code

macduffy
Posted on: Jul 10 2012, 12:55 PM


Group: Member
Posts: 2,379

Reserving my judgement until we know

- What sort of issue? Rights or placement or what?

- What's the cash needed for? Big new project or running expenses?

unsure.gif
  Forum: By Share Code

macduffy
Posted on: Jul 4 2012, 12:23 PM


Group: Member
Posts: 2,379

QUOTE
Unfortunately, the Fourth of July party never materialized so we have to wonder just what it is that is holding the show up.


Never did work out what the Fourth of July party was all about - companies don't normally announce big news while everyone is busy having a day off - unless it's bad news!

It's still not yet the Fourth in some parts of the world, of course!

cool.gif
  Forum: By Share Code

macduffy
Posted on: Jul 2 2012, 02:44 PM


Group: Member
Posts: 2,379

QUOTE
Privatization of NZ's power producers are scheduled to hit the markets late Sept. That is the end of US summer and the beginning of our spring. That tells us the markets will be open for business by no later than then.


And the relevance to BLT is?

rolleyes.gif
  Forum: By Share Code

macduffy
Posted on: Jun 28 2012, 03:50 PM


Group: Member
Posts: 2,379

Nice to get some more money from the govt but really, isn't it about time that some of this research paid off with a commercial product?

I had high hopes of the JV with Corus/Tata and I don't know how long one can reasonably expect it to take to prove the utility of the product. But I'm wondering now if Tata are more interested in tying up the technology from competitors than in commercialising it in their own products.
  Forum: By Share Code

macduffy
Posted on: Jun 26 2012, 10:54 AM


Group: Member
Posts: 2,379

Yes, a victory achieved by drowning your opponent in your own blood!

The problem is that she has more blood (money) than her opponents.
  Forum: By Share Code

macduffy
Posted on: Jun 25 2012, 09:22 AM


Group: Member
Posts: 2,379

A bullish view on BTU here:

http://www.thebull.com.au/premium/a/29251-...oal-stocks.html
  Forum: By Share Code

macduffy
Posted on: Jun 22 2012, 12:12 PM


Group: Member
Posts: 2,379

Capital raising at 2c.

http://www.patrys.com/images/stories/media...2_June_2012.pdf

Seen by some as some sort of conspiracy but really just a reminder that fledgling life sciences companies need to raise capital on a regular basis.

Disc:Not holding.
  Forum: By Share Code

macduffy
Posted on: Jun 20 2012, 02:11 PM


Group: Member
Posts: 2,379

QUOTE
May've spoken too soon.


And that's no surprise to readers of this thread!

Now, how about leaving the BLT thread to discussion of BLT?


rolleyes.gif
  Forum: By Share Code

macduffy
Posted on: Jun 18 2012, 11:05 AM


Group: Member
Posts: 2,379

IGR in (another) trading halt. May or may not mean a lot - they have a history of calling a halt for what later prove to be fairly mediocre drilling results.
I hold, so here's hoping!
  Forum: By Share Code

macduffy
Posted on: Jun 13 2012, 04:12 PM


Group: Member
Posts: 2,379

Thanks for that, clark.

Should we be concerned that there hasn't been any announcement re JV interest in Kalkaroo - expected by the end of May?
  Forum: By Share Code

macduffy
Posted on: Jun 12 2012, 04:25 PM


Group: Member
Posts: 2,379

Lucky old ANZ inherits NZ's controversial chairman of ACC as the new chair of ANZ/National Bank.

Hardly going to do much for the ANZ shareprice!



sadsmiley02.gif
  Forum: By Share Code

macduffy
Posted on: Jun 1 2012, 12:05 PM


Group: Member
Posts: 2,379

That's the (possibly) good news. The (probably) bad is that DYE is included along with Ceramic Fuel Cells - current SP around 9c - so I think we should recognise the highly speculative nature of these 'picks'.

unsure.gif
  Forum: By Share Code

macduffy
Posted on: May 29 2012, 06:58 PM


Group: Member
Posts: 2,379

QUOTE
It is a long weekend this weekend in NZ. Today is a public holiday in the US. So markets will open together tomorrow


I'm not sure how next Monday's Queen's Birthday holiday in NZ will cause markets to open together tomorrow! Just another example of some confused thinking, perhaps?


blush.gif
  Forum: By Share Code

macduffy
Posted on: May 29 2012, 06:50 AM


Group: Member
Posts: 2,379

Quarterly report out yesterday.

http://www.asx.com.au/asxpdf/20120528/pdf/426j7hjm4fwchs.pdf

Note the bit about expressions of interest re the Kalkaroo project being due to be received by 31 May. Market inactivity in HAV doesn't appear to anticipate much excitement, however.
  Forum: By Share Code

macduffy
Posted on: May 11 2012, 09:48 AM


Group: Member
Posts: 2,379

Yes, confusion on my part too.

As post was on NAB thread, I assumed it referred to NAB!

unsure.gif
  Forum: By Share Code

macduffy
Posted on: May 11 2012, 06:28 AM


Group: Member
Posts: 2,379

Not so.

Record date is 6 June so last cum dividend trading day will be three trading days prior to that.


http://www.asx.com.au/asxpdf/20120510/pdf/4265kmhz4cdph0.pdf
  Forum: By Share Code

macduffy
Posted on: May 10 2012, 04:08 PM


Group: Member
Posts: 2,379

It seems to me that the discussion has moved away from SPL to PAB - at least as far as some(one)? are/is concerned.
I'm looking forward to seeing something interesting on the PAB thread.

cool.gif
  Forum: By Share Code

macduffy
Posted on: May 9 2012, 11:28 AM


Group: Member
Posts: 2,379

I'm no techie but I'll hazard the opinion that the chart doesn't look too rosy, even to my amateur eye!

Downtrending SP; low volume; declining Relative Strength.

Now for the real story from someone better qualified.

smile.gif
  Forum: By Share Code

macduffy
Posted on: May 2 2012, 03:19 PM


Group: Member
Posts: 2,379

FWIW, here's Macquarie's latest call on BPT.

"Beach Energy BPT OutperformPushing ahead of the pack

    We reinstate a rating and target price on Beach Energy after a period of restriction, now with Outperform, and transfer analyst coverage. <li style="margin-bottom: 6pt; mso-list: l0 level1 lfo26;" class="MsoNormal">The recent results provide greater confidence regarding both the resource size and productivity of the deeper basin-centred gas potential in PEL 218.
  • Reinstate with an Outperform. The market is likely to remain fixated on BPT's ability to de-risk the geology as it commits to 14 test wells. "
Apologies for the "layout"!

  Forum: By Share Code

macduffy
Posted on: May 2 2012, 10:35 AM


Group: Member
Posts: 2,379

I'm more than happy with ANZ's "subdued performance."

To describe it in any other way would only invite further ill-informed political criticism!


cool.gif
  Forum: By Share Code

macduffy
Posted on: Apr 30 2012, 01:57 PM


Group: Member
Posts: 2,379

QUOTE
either completely out of touch with non academic reality or start staring raving mad thumbdown.gif



Aahh. But who, Wenzel or Bernanke?

cool.gif
  Forum: Off Topic Chat

macduffy
Posted on: Apr 30 2012, 11:42 AM


Group: Member
Posts: 2,379

Not being a trained economist - can you train an economist? - I hadn't heard of the Economic Policy Journal nor of Robert Wenzel, until recently.
Here's a link to his recent speech to the New York Federal Reserve Bank, at the Federal Reserve, highly critical of the Fed and Bernanke.

Well worth a read.

http://www.economicpolicyjournal.com/2012/...rk-federal.html
  Forum: Off Topic Chat

macduffy
Posted on: Apr 20 2012, 06:09 PM


Group: Member
Posts: 2,379

Good news for STO in gas prices.

http://www.smh.com.au/business/gas-prices-...0419-1x9ya.html
  Forum: By Share Code

macduffy
Posted on: Apr 20 2012, 02:02 PM


Group: Member
Posts: 2,379

In the absence of some announcement from DYE in the next few days I'd expect some analyst to ask the obvious "Are you involved?" question.

Or is that expecting too much?

unsure.gif
  Forum: By Share Code

macduffy
Posted on: Apr 13 2012, 09:14 AM


Group: Member
Posts: 2,379

FWIW, here's Fisher Funds" view on DTE.

"Dart is a global coal seam methane and shale gas junior in which we inherited a position following the takeover of Arrow Energy. We elected to retain this stake given the value we see in Dart’s tenements, the high quality leadership team in place in the business with its demonstrated ability to create shareholder value and the prospect of near term cash flows from its UK assets. We believe these arguments remain as relevant now as they were when we initially received our shares.

Why then has there been so much downside? We think there are three factors driving this. First the failure of one of the company’s assets, Dajing, in China, to yield commercially extractable gas is disappointing given this was a potentially large asset. Second the controversy around fracking, which has made many investors wary of the shale sector in particular. Last, with many of its assets offshore, Dart has fallen prey to the discount that many Australians place on assets that are out of sight and hence out of mind.

Whilst we appreciate the validity of these negatives we do not believe they warrant such a severe price reaction in Dart’s shares. The Dajing drilling result released in January was disappointing. Despite the removal of this upside option we still see significant value in Dart. Based on discussions with the company we believe that the current equity value of the business is more than covered by just its UK shale assets and related Gas Sales Agreement with SSE Energy Supply Ltd (a UK FTSE 100 listed utility). This means that investors today are getting Dart’s Australian, Indonesian, Chinese, Indian and Polish assets for free! On the fracking front Dart does no fracking in its Australian coal seam methane assets and fracking is pretty unusual in CSM. For shale, fracking is the norm and Dart is working with authorities, in the UK in particular, to ensure that its processes are well understood by regulators and that it delivers gas in a manner that is acceptable to the community. On this front the UK Environment Agency has carried out a review into fracking processes and has recommended, following a moratorium on drilling at one high profile shale project (not one of Dart’s), that shale drilling and fracking be allowed to recommence. Last but not least, the reluctance of Australian investors to pay up for international assets is well known. To combat this Dart is proposing, this quarter, to spin its international assets off and list them in Singapore. This will help prove up the value of these holdings.

So we think we see the light at the end of the tunnel … the Singapore listing will help verify value, drilling activity will pick up in the UK and there is movement on Dart’s Australian drill program. To round it out Chairman Nic Davies bought one million shares near month end.
He is a believer. "




  Forum: By Share Code

macduffy
Posted on: Apr 12 2012, 09:41 AM


Group: Member
Posts: 2,379

FWIW, from FN Arena.

"BPT - BEACH PETROLEUM LIMITED Citi rates BPT as Sell, High Risk (5) - Target $1.34 (was $1.31). Citi has adjusted its model for Beach to account for the view there is major volume upside potential for Cooper conventional gas, while there is also scope for some upside from shale gas in the Basin.

Minor changes to forecasts mean an increase in price target. Citi retains a Sell rating on the stock given the expectation Copper gas capex will remain high for some time.

Target price is $1.34 Current Price is $1.33 Difference: $0.01 If BPT meets the Citi target it will return approximately 1% (excluding dividends, fees and charges).

The company's fiscal year ends in June. Citi forecasts a full year FY12 dividend of 1.80 cents and EPS of 7.90 cents . At the last closing share price the estimated dividend yield is 1.35%.

At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.84.

Market Sentiment: -0.4

How do these forecasts compare to market consensus projections?

Current consensus EPS estimate is 8.8, implying annual growth of 47.3%.Current consensus DPS estimate is 1.8, implying a prospective dividend yield of 1.4%.Current consensus price target is $ 1.40, suggesting upside of 5.0%(ex-dividends).Current consensus EPS estimate suggests the PER is 15.0.All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources "

Interestingly, Citigroup Global Markets Australia Pty Ltd is one of three Joint Lead Managers and Underwriters to the issue. I don't imagine that sub-underwriters are thrilled to read this!



  Forum: By Share Code

12 Pages (Click to Jump) V   1 2 3 4 > » 

Cant find what you are looking for? Show all active topics from the last 3 months


New Posts  New Replies
No New Posts  No New Replies
Hot topic  Hot Topic (New)
No new  Hot Topic (No New)



TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING