Wti Oil Etc Discussion Threads

[sh1984] 13/2/2017 15:08

Anyone else tried?

[sh1984] 13/2/2017 15:08

I did, just got an email from the CEO saying the can't give any more info other than RNS due to confidentiality etc. Shame as some others like SULA have been more open.

[billthebank] 13/2/2017 11:41

Anyone tried to contact the company about their costs since the last RNS?

[leedskier] 13/2/2017 09:54

LIVE FUTURES REPORT 13/02: Copper prices up on Escondida strike, strong China data

Copper contracts on both the London Metals Exchange and the Shanghai Futures Exchange have surged in Asian morning trading hours on Monday February 13 after BHP declared force majeure at its Escondida mine in Chile and better-than-expected Chinese January trade balance data.

[mattjos] 13/2/2017 09:09

even with the hedge in place, with copper at 18 month highs over $6,000/t this now looks too cheap

[billthebank] 13/2/2017 09:09

Orion are making a fortune here so in a way that is a 're assuring aspect

[888icb] 11/2/2017 10:17

The strong rise in copper has to be good for WTI.

[dixi] 11/2/2017 10:05

Hedge with Orion over very soon. Copper rising. Could be worse!

[breaktwister] 10/2/2017 16:53

Copper to the moon and this goes nowhere. Too much hedged in the nearterm. Into the bottom drawer.

[leedskier] 10/2/2017 15:29

HG1:COM
Copper (Comex)
USd/lb. 276.15 +10.80 +4.07% Mar 2017 10:18 AM

That is $6086.34 per MT

[leedskier] 10/2/2017 15:27

Workers at the world’s top copper mine, BHP Billiton’s Escondida in Chile, launched what they vowed would be a “long and hard” strike Thursday, causing jitters on world commodity markets.

Escondida is the first of several key mines worldwide where contracts expire this year, and markets are watching nervously to see how the strike impacts supply and prices.

“The company is sticking to its inflexible stance. This will be a tough fight,” said Carlos Allendes, spokesman for the Escondida miners’ union.

“This could go on for a long time. We’re prepared to maintain a long and hard strike.” BHP Billiton (BHP), one of the world’s leading mining consortiums, has rejected workers’ demands for a seven-per cent raise and bonuses of 25 million pesos (around $US39,000).

It is offering bonuses of 8m pesos, with no raise. Like other miners, the Anglo-Australian company has had to cut costs as copper prices slid in recent years, from a record high of $US10,190 per metric ton in February 2011 to $US4,318 per ton in January 2016, to just over $US6,000 today.

Ninety-nine per cent of Escondida’s 2,500 workers voted Tuesday to strike, after government-mediated negotiations collapsed.

[leedskier] 09/2/2017 11:34

extract from that


Currently, copper production is less than 20-million tonnes a year.
The introduction of electric cars to clean the air will require 120-million tonnes of copper a year.

In the last three years, the world has increased copper production by an average of 328 000 t a year.

From now on, the world would need 6.4-million tonnes of new copper production a year just to maintain where the world is headed.

[leedskier] 09/2/2017 11:30

8TH FEBRUARY 2017

BY: MARTIN CREAMER

CAPE TOWN (miningweekly.com) – Enormous global demand is building up for copper, platinum and zinc, driven by new technology, mitigation of health risks in hospitals and agricultural augmentation, Ivanhoe Mines executive chairperson Robert Friedland said on Wednesday.

[sh1984] 08/2/2017 11:18

Big supply disruptions affecting copper prices now, Escondida strike to start tomorrow in Chile and further disruptions in Indonesia.

[leedskier] 03/2/2017 21:53

STAV5001, I am sure that is the case. But there is nothing unique about the market being risk off here. The market is risk off most commodity shares listed on Aim.

[stav5001] 03/2/2017 20:36

NOW Priced for risk. Many paid 10 or even 15 X this SP!

[billthebank] 03/2/2017 12:45

I still have a small stake leedskier Just sold the bulk!! I am watching the price of copper as this share is deffo tied up with that!!! Just cross we could be so badly let down when this seemed like the moment when WTI was going to deliver and IMO should have delivered. One minute the company are saying the costs were going to move to sub $4000 and then boom the costs increased to the point when the company is only making money for our lenders!! I will say no more.

[leedskier] 01/2/2017 15:52

When I sell a position, I make it a point of principle not to post on the BB for that share. The only exception being a share which is yo-yoing and everyone is trading it, including me.

Neither applies to me in respect of this share. Time will tell whether I will win or lose from the decision to remain invested.

3 month copper closed at just below $6K a MT yesterday.

[dixi] 31/1/2017 22:42

Cu on the move in our favour.

[sh1984] 29/1/2017 14:37

Copper on the rise, it will come good eventually

[billthebank] 27/1/2017 22:29

Sold today and bought more JLP This share will recover but That debt of near on $100M does look imposing. Some of the execs decision making has also been suspect over the last 3 months IMO

[superbobtaylor] 27/1/2017 12:09

Noting personal at all charlieeee. You just keep misrepresenting the situation in the same way by choosing to mention (possible) similar debt levels whilst omitting the differences in production, reserves and (using the latest numbers) profitability. Put simply even IF AYTM lose the case and have to pay additional interest and damages the debt burden is far greater on WTI then it will be on AYTM.

I agree that the companies are very similar as small early stage Cu producers but any comparison cannot so simplistic as to compare just debt level.

I prefer "owe a £100 to your bank manager and you have a problem: owe your bank manager £1 million and he has a problem". Orion have indeed got themselves into a hole on this one, I wonder if they wish they had walked away and written off their loses?

SBT

PS - "One has gone the 100% debt route (one of the last to get such financing)" made me chuckle......