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CEO.CA members discuss high-risk penny stocks which can lose their entire value. Only risk what you can afford to lose.
@newstracker#Iron ore 62% Fe spot (cfr Tianjin) US$54.2/t vs US$53.2/t
– $BHP warned authorities in Western Australia that raising local royalties will likely reduce potential supply from Australian operations with competitors stepping in and replacing lower local shipments with iron ore from Brazil and other nations.
- Higher royalty are expected to jeopardise investments in the state and “would most definitely not be good for Australia”, the Company said.
- Comments follow Western Australia’s Nationals party leader Brendon Grylls proposal to increase tax charges on BHP and Rio Tinto iron ore operations to A$5/t, up from A$0.25/t.
- A survey of 1,700 respondents carried last week by a local newspaper showed that 45% of voters supported the proposal.
Source: SP Angel – Morning View – Wednesday 21 09 16
@Oliver$BHP Billiton, the world’s biggest miner, warns #Brazil’s impending wet season may result in further environmental damage due to the failed Samarco dam, carrying the risk of new fines and legal claims
@Oliver$BAY$BHP nice results and I like that the encountered mineralization isn't deep. Great to see some drilling success among the #copper juniors; not many Cu juniors are drilling right now. This is also a great quote to increase awareness "..The Company encountered visual copper mineralization in three of the 12 holes.."
@OliverSolGold* (SOLG LN) 18.8p, Mkt Cap £229.3m – Board considers investment proposal from BHP Billiton
> Solgold reports that it has received a proposal from BHP Billiton to acquire a 10% interest in Solgold for US$30m and to earn in to the Cascabel project itself through spending US$275m “to acquire 70% “ of Solgold’s 85% interest in the local company ENSA.
> The board considers the proposal is “NOT in the best interests of Solgold and its shareholders.”
> The BHP Billiton proposal is subject to a number of conditions which include a 60 day period of due diligence on the property and that the Solgold board should recommend the withdrawal of the motions “to approve the previously announced US$33 million financing with Maxit > Capital LP (Maxit) and Newcrest Mining Limited (Newcrest) and shareholders not approving the same”. $SOLG.L$CGP$BHP#Ecuador by SP Angel – Economics / Mining
@rackerAston Bay Holdings (BAY CN) 0.35c/s, Mkt cap C$20.8m – BHP jv on Storm copper project reports high-grade copper
(75% BHP Billiton, 25% Aston Bay after option exercise)
Aston Bay which is managing the exploration program at the Storm Copper project in Northern Canada reports preliminary drill results from this year’s summer field season.
The results released show visible copper mineralisation with assay results below:
(true widths estimated to be 75-100% of core)
16m at 3.07% copper and 12.26g/t silver from 93m down hole
4m at 1.17% copper
20m at 0.44% copper
The joint venture has drilled a total of 1,951m in 12 drill holes of which three are reported.
The exploration program also covers 2,005 soil samples
Further details can be found at http://astonbayholdings.com/storm-copper
Conclusion: Aston Bay’s drilling shows tantalising results. Results from the next nine drill holes should provide further clues as to the nature and potential extent of copper mineralisation at the Storm Copper project in Nunavut, Canada.
BHP’s financial, logistical and geological support is of great benefit to Aston Bay Minerals and marks BHP’s developing strategy to invest in promising exploration projects.
BHP’s investment in copper exploration indicates to us renewed focus on increasing or at least replacing copper production in future years. The drive to replace fossil fuels with renewable energy and more efficient vehicles is likely to lead demand growth for copper going forward. Source: www.spangel.co.uk$bay#bhp#copper
@Fischlaender$CGP up 50% in the wake of the rejected $BHP offer to SolGold, but with peanut volumes considering the 390 million share count for CGP (considering the 90 million 10 Cent Warrants are now being exercised).
@newstrackerRio Tinto, BHP, Vale, Fortescue, Glencore and Anglo American benefit from continuing rise in iron ore and coking coal prices
- Rio Tinto $RIO.L is the major beneficiary of the strong recovery in iron ore prices#
- BHP $BHP is also well exposed but may be held back by the pull back in oil prices.
- Fortescue $FMG.AX is relatively highly leveraged despite an amazing reduction in operating costs.
- Anglo $AAL.L and Glencore $GLEN.L are by comparison relatively small iron ore producers but both benefit from sizeable coking coal production .
Source: SP Angel – Morning View – Monday 14 11 16
@rackerEven miners are pooh-poohing the post-election metals rally http://www.economist.com/news/business/21710314-even-miners-are-pooh-poohing-post-election-metals-rally-vein-hope Juan Carlos Guajardo, of Plusmining, a Chilean consultancy, expects the copper market to remain in a state of oversupply for some years. But eventually a shortage of quality copper mines will curb supply as electrification of the world economy, from cars to heating and cooking, lifts demand. Mr Trump has provided only a temporary fillip. His plans for America’s infrastructure sound “more like steel and concrete than copper”, Mr Guajardo says. And gold for the White House taps, perhaps. #copper$RIO.L$BHP
@nicholaslepan$BHP – BHP launches new Freight Uber – online freight platform to cut shipping costs
- BHP might be about to score a bit of an own goal with its new online freight platform
- While we suspect that the platform might help to reduce the cost of managing its ship chartering we also wonder if use of the platform might cause some shippers to scrap some older vessels faster than they might have otherwise.
- Almost every ship yard in the world is now struggling for survival with only a few in China likely to continue as they are.
- Taking more ships out of the system should inevitably lead to higher freight rates in the longer term and given the precarious state of the shipping industry then the longer term may not be so long away.
- BHP says the portal has so far cut rates to below $0.30/t below the spot price which is currently at $5.19/t according to the spot freight index rate.
- BHP estimates it has spent $764m to ship 275mt of iron ore from Western Australia to its customers, mainly in China in the last financial year to end June 30.
- Like Uber, BHP will automatically match vessels with cargos according to its algorythm, unlike Uber ride sharing might not be a preferred option.
@nicholaslepanEuropean equities climb for a third day (Stoxx Europe 600 +0.2%) with miners trading lower amid range bound base and precious metals prices and stronger pound.
- #Gold prices are little changed this morning after having climbed $23/oz since the start of the week and touched the highest level since Nov on Wednesday on safe haven demand.
- An increase in gold prices came despite a 0.2% appreciation in the US$ index during the week.
- $BHP stopped production at Escondida ahead of the labour action; copper prices are flat today after having climbed 1.7% in the previous trading session.
- Brent is up 1.1% this morning building on gains recorded yesterday despite the EIA report showing a 13.8mbbl jump in US stockpiles last week, marking the second biggest gain on record.
- #Iron ore futures have almost regained all its losses recorded post the end of Lunar New Year holiday season on the back of strong spot steel prices. May Dalian futures climbed 1.1% as Shanghai rebar and hot-rolled coil contracts gained 0.1% and 0.3%, respectively.
@nicholaslepan$Miners continue to break new ground as prospects for stronger earnings drive value
- $BHP's Escondida declares ‘Force Majeure’ causing copper prices to take off at a time when Chinese traders are expected to come back into the market
- #Copper prices have broken-out convincingly on the upside to hit US$ 6,119/t this morning versus US$5,927/t seen on Friday morning.
- Cyclones and heavy rains are causing some concern in Western Australia disrupting iron ore and nickel shipments.
- Chris Lynch, CFO at Rio Tinto $RIO.L comments that #iron ore prices will defy forecasts of a dramatic collapse as Chinese economy remains strong
@nicholaslepanWorkers at the world's largest copper mine in Chile are digging in for a long strike, emboldened by new labor laws that are likely to result in tough wage negotiations in the industry in 2017 in one of Latin America's most free-market economies. negotiations stalled in part because of a freshly minted labor code that aims to return power lost by unions decades ago. The law does not take effect until April, but its provisions and language have influenced the union's negotiating position. #copper#chile#mining$BHPhttp://www.reuters.com/article/us-chile-copper-escondida-labor-idUSKBN15U0H5
@nicholaslepan$BHP Billiton reports a reversal of the US$7.030 bn half year loss in 2015 to report US$3.204 bn of attributable profits in the six month period to December 2016. The Company notes that it expects world economic growth in the range 3-3.5% in 2017 and that it expects “China’s economic growth to moderate in the coming year … [as] … China’s policymakers … seek a balance between the pursuit of reform and the maintenance of macroeconomic and financial stability”. Sp Angel Meyer concludes that BHP Billiton has achieved a strengthening of its balance sheet and the plan to repurchase US$2.5bn of debt should help position the company to take advantage of opportunities to “invest counter cyclically” should they present themselves in the future.
@drilltracker@Brendan@MiningBookGuy I saw the problem with biznoids taking over exploration with BHP in the early 2000's. When they replaced explorers and visionaries like Hugo Dummet, Oliver Warren and Jim Bratt with finance guys in 2000, the exploration department lost its mojo. They had people like me build "risk adjusted NPV models" to evaluate projects instead of geos that had vision to make the next big discovery. When you compare the discoveries in 1980-2000 with what came after is pretty sad. Cannington, Escondida, Ekati, Syama, Mabangu, Rico Dic, Antapacay, Oyo Tolgoi, Prominent Hil, Hope Bay, Spence, Superior, are all world class deposits discovered by BHP, Rio Algom, Billiton, or Magma joint ventures. (Well maybe not Hope bay but maybe one day.) To no bodies surprise, $BHP has made very few (if any..perhaps Angola diamonds) significant discoveries since. #index