Asiamet Resources Share Discussion Threads

[mr roper] 07/2/2017 13:26

enter the drunk man shouting at pigeons in the park...

[bsg] 07/2/2017 13:09

Apart from the sells.

[richsmithsmith] 07/2/2017 11:22

All buys today again

[mr roper] 06/2/2017 21:16

Lol, adorning. Southern rail could teach the Chileans a bit about strikes!

[adorling] 06/2/2017 20:51

Mr R - if they have been talking to Southern Rail then it could be a year on strike! Another good day for LTH of ARS. strong start to 2017 indeed!

[freddie ferret] 06/2/2017 16:53

Market seems to be ignoring the sillier rampers and going up at a slow but steady rate with profit taking and consolidation on the way.
Hopefully we will get to 6p but not for a month or two.
From then on upward will be dependent on further good news IMHO.

[mr roper] 06/2/2017 16:33

decent day then. Up near 5%, copper making moves again. Just need the esco miners to go on strike for 6 months now...

[cyberbub] 06/2/2017 14:15

I think there is probably a largish delayed sell in the system. Onwards and upwards hopefully?

[maverick247] 06/2/2017 13:44

Only small sells today sticky hands like many here are holding for well into double digits even for a slice - thats why we'll get there sooner than many think

[cyberbub] 06/2/2017 13:18

0.87% is minimal to be fair. We need to see a breakout over $2.75. Hopefully it will come if the Escondida strike goes ahead and production costs start actually biting.

[adorling] 06/2/2017 13:15

....and copper up 0.87% today.

[adorling] 06/2/2017 11:22

Mr R - good post on Escondidia strike status. Another bonus for ARS if that really gets bad given they produce 5% of world copper! We need our update soon just to get strong buying momentum to take us through 4p then onto 6p next stop. All looking good for ARS investors.

[mr roper] 06/2/2017 10:25

escondida update.. very interesting last three paras..


Home > Copper > Escondida strike looks imminent

Escondida strike looks imminent

BHP Billiton (AU:BHP), the majority owner and operator of the Escondida copper mine in northern Chile, has requested the government’s Labour Office step in to help resolve a worker pay dispute threatening to halt operations at one of the world’s biggest red metal operations.

Paul Harris
06 Feb 2017
6:38
Feature

Escondida is expected to produce 1.1 million tonnes of copper in the year ending June 30, according to BHP

The company has, so far, been unsuccessful in negotiating the 2017-2019 collective bargaining agreement with its workers and has decided to ask for state help to cool employer-employee relations.

Under the rules concerning collective bargaining agreements, the stage of intermediation by the Labour Office lasts five working days, postponing the date at which the workers unions can take strike action.

“We are making every effort to meet the position of Union Sindicato N°1 and … this [is the] reason we have requested mediation by the government … to continue the collective bargaining negotiation in the coming days,” said Escondida’s vice president of corporate affairs, Patricio Vilaplana.

However, it seems the distance between what the union wants and what the company is prepared to offer is too great to prevent the eventuality of a strike. Some 99% of union members voted to reject the final offer of the company on February 1, it was reported.

The union demands a 7% pay rise above inflation and end of negotiation bonus of ChP25 million pesos (US$38,956), while the company offered an ChP8 million bonus with no pay rise and a reduction in 15 social benefits that the union estimates is equivalent to a ChP200,000 per month pay cut. Escondida’s workers received a bonus of ChP23 million during the prior bargaining cycle.

Escondidia’s Union #1, which represents some 2,500 workers, in response said it would undertake a longer strike than the one it carried out in 2006, which lasted 25 days.

“[We have] a contingency plan accompanied by economic means that will allow us to sustain a prolonged strike, for a time much longer than some are thinking”, said union spokesman Carlos Allendes.

The union estimates one month of strike action would cost Escondida 100,000 tonnes in lost copper production. BHP, which owns 57% of the mine, previously estimated the mine would produce 1.1 million tonnes of copper in the 12 months to June 30, some 5% of the world’s copper output.

[mr roper] 06/2/2017 09:46

surely got to be a tick up soon.. sells going through at 3.63 and 3.65..

[maverick247] 06/2/2017 09:37

My current year end target is 10p if the resource update shows significant economics improvement then my end year target would be 10-15p if beutong license drops and copper goes on a run then 20p is possible (assumes bfs completion) of course

[hawks11] 06/2/2017 08:15

I see 15 smallish buys with the largest being 100,000 and 120,000 which seems unusual.

[cyberbub] 05/2/2017 22:34

Is that a trio of 46 year olders then?? :-)

[adorling] 05/2/2017 20:06

Great week ahead I am sure but I am in India all week (work for an airline hence the odd posting times from various time zones around the world!) and hope to see 4p-5p when I am back.

[2lb] 05/2/2017 19:39

An excellent age Oki if I do say so myself Are we all set for the week ahead? Interest seems very high all of a sudden

[okidokicoki] 05/2/2017 19:13

ianbag it is the weekend it would be rude to sleep before 5am after all im only 46 ! still life in the old dog yet :-0

[tidy 2] 05/2/2017 15:00

High net investors moving in. TM https://audioboom.com/posts/5286130-638-asiamet-resources-ars-and-wheelie-dealer?t=0

[scarymonster] 05/2/2017 11:46

Posted over on lse share chat ARS board (not sure if it's been posted here before).



Not new but looks very interesting. I just need to find an hour to sit down. :)

[cyberbub] 04/2/2017 23:34

Horneblower, you reckon 30p as early as next year? I think it's possible, but IMO would need copper to be pushing back for $4, funding for plant construction sorted with only moderate dilution, and construction underway. Luckily I think all are well within the realms of possibility :-)