BHP Billiton Share Discussion Threads

[netnut] 11/11/2015 12:27

brutus8 - thank you, didn't realise the news on here was that up to date.

[idioterna] 11/11/2015 12:24

Brutus filtered. I don't like reading posts from subscribers who clearly lie for their own reasons.

[brutus8] 11/11/2015 12:09

Netnutclick on news.

[fruitloops101] 11/11/2015 11:54

If you read the news releases on here you can see where the accusation of negligence comes from, but how much credibility it can possibly have pre-investigation is another question entirely. There will be many interests out to milk this for all its worth, not least the Green lobby and the lawyers, and truth will doubtless come a long second to sensationalism and conjecture. I worked in Brazil a few years ago, the place is corrupt to the core, and I have no doubt that any legal proceedings will be won by the party with the biggest dash fund.

[idioterna] 11/11/2015 11:31

brutus - "it now transpires that negligence was the cause of the dam disaster". I presume you can back that up with a legitimate investigation analysis and that you are prepared to publish a link to that disaster assessment.

[netnut] 11/11/2015 11:21

brutus8 - can I ask where you read about the negligence?

[herbyrainer] 11/11/2015 08:55

I added these again to my sipp risk vs reward seems stacked in my favor. Good luck all.

[idioterna] 11/11/2015 08:40

Having identified a company with a dividend yield of nigh on 8% and a stated and recently reiterated progressive policy I feel no need to be nimble. I'm quite happy to toddle into 2016 and take the next tranche thank you very much. But feel free to sell if that's your calling.

[tpaulbeaumont] 10/11/2015 22:01

new lows :) be nimble or out imvho

[anley2] 10/11/2015 14:33

Sorry NO but if I am wrong then do let us all know as the City in many cases do not really know what mining is all about!

We all have to wait for proper news from the board on 18 November the date of the AGM.

[netnut] 10/11/2015 14:19

I see Barclays cut their forcast.

Next question: Is there anywhere that rates the analysts?

[idioterna] 10/11/2015 10:57

Rubbish. BLT faces no direct responsibility. Even the Semarco doesn't face fines, it was most probably a natural disaster as the seismic activity prior to the burst caused the dam to fracture. As to why somebody decided to build a house directly below the dam is a matter for the civil authorities.

No doubt BLT and Vale will make significant contributions to the local communities, but $1 billion in clean up costs is a just a short sellers pipe dream. This is Brazil we're talking about.

[philanderer] 09/11/2015 22:34

Richard Fletcher ‏@fletcherr 18 minutes ago

Tomorrow's @TimesBusiness front page: BHP faces $1bn clean-up
bill for Brazil dam burst

[idioterna] 09/11/2015 21:05

It will be very interesting indeed if this doesn't open above $30 tomorrow. I will cheerily be opening the wallet in that case.

[hooley] 09/11/2015 20:53

Keep telling yourself that this is overblown. I want to buy on a long view. I'd sooner miss the bottom and know that there are no more major sellers. The MMs seem to have a long position and the Hedgies have short positions. When will they close? My guess is not yet. Beware the bear trap.

[brutus8] 09/11/2015 19:18

Anley21st. Not my words, simply transferring information from one sight to this one.I hold the stock but regrettably was busy selling my poison in GENL purchased Friday @ 2.68 which I sold @ 2.91Had I had that report this morning which clearly stated dumping and cleanup cost of over one billion I would have sold and repurchased.2nd. Aside from this tragic event the real culprits for the utter destruction of share value are the Arabs and the Yanks with their ongoing price war on oil.If oil was at $ 80. all commodities would also be up since the costs to extract would also go up.This crazy fruitcake notion that China is responsible is not only pitiful but outright insane.Cheap oil is the issue and reserve my qualifications since I find it unnecessary.Have a good evening.

[anley2] 09/11/2015 18:14

BRUTUS...........look at today's share volumes before you comment and use the word "dumping".

Today's t/o was only 10m shares on a m/c of £20 billion.........

As I and a few other contributors have mentioned the loss of IO production (Pellets) is small and if anything it may push the price of pellets up as this commodity has a premium price over plain iron ore........look at its use and you will see what I mean.

The quality of reporting in today's markets is dreadful and I will keep saying so until it improves as I sit in my desk as a commodity trader, investor and family hedge fund manager.

[idioterna] 09/11/2015 17:09

brutus - Investors are dumping? Seriously? I'm an investor and I'm not dumping, nor do I know any other investors who are dumping. This is run of the mill stuff and the story was done two days ago. I suppose that given the mess at BP after Macondo short sellers are wetting themselves, but, what one forgets is how fast BP ran in the wrong direction. This is a different kettle of fish in a different part of the world. The world has come a long way in 5 years, particularly as regards what are acceptable death tolls and where.

[idioterna] 09/11/2015 13:56

…"more than 569 people have been displaced and at least 1 death" - Wow! Sounds huge considering that Sweden has just taken 250,000 displaced from the middle east in the past year alone. Lord knows how many thousands of deaths there have been along the way.

So, to help readers understand a little more, perhaps we should keep things in perspective. The result of the EU commerce minister meeting concerning steel production is far more important.

[anley2] 09/11/2015 13:46

This may help some readers understand the problem...............
Summary

More than 569 people have been displaced; at least 1 death and more than a dozen missing.
This is the result of a failure at Samarco's Fundao and Santarem dams.
The dams held back the inert iron ore tailings and silica related to iron ore processing.

At this time, there is no confirmation of the causes of the failures.

Only A Small EBITDA Impact from the 50/50 owned company.........

Samarco reported an annualized EBITDA of $1.3 billion in the first half of 2015, or 3.1% of BHP's proportionate EBITDA. It should be noted that Samarco is accounted for as equity income so the impact on adjusted EBITDA is through share of profit for BHP, whereas it is accounted as dividends received in the case of Vale.

In terms of total iron ore business, the facility represents only about 6% of total production for BHP. Samarco production for the September 2015 quarter had increased by nine percent to 7.5 million tons as a result of the ramp-up of the fourth pellet plant to full capacity during the March 2015 quarter.

Previous guidance from BHP for the 2016 financial year remains unchanged at this point at 247 million tons. I would expect that we'll have more information regarding this guidance at the annual shareholder meeting on November 18th with more potential outcomes.

Further Fallout

At this point, so early in the disaster, it is impossible to gauge the financial impact of the dam failures. While it is easy to calculate the production impact and represented financial underpinnings the facility contributed, the environmental damage, loss of life and livelihood caused by the disaster are impossible to quantify at this time. This is a significant event and the necessary costs associated with ensuring that people lives and the environment are made safe should not be underestimated.

We shall have to wait and see................

[togglebrush] 09/11/2015 13:42

Brazilian Lawyers v Brazilian Company owned 50/50 VALE (Brazilian) and BLT.
'
I don't think this is in the same legal league as events involving the USA

[hooley] 09/11/2015 13:28

Can the lawyers do a BP/Gulf job on this event? They will certainly try.

[dr_ex] 09/11/2015 11:55

high vol on friday at support. if it stays above today, could bode very well for technicals,