Bisichi Investors - BISI

Bisichi Investors - BISI

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Bisichi Plc BISI London Ordinary Share GB0001012045 ORD 10P
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 66.50 08:00:00
Open Price Low Price High Price Close Price Previous Close
66.50 66.50 66.50 66.50 66.50
more quote information »
Industry Sector

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callumross: From the Financial Times; Neil Hume, Natural Resources Editor DECEMBER 22 2020 The world’s least-loved major commodity is burning brightly again. The price of thermal coal, used to generate electricity in power stations, has surged in the past two months as key consumers in China, India, South Korea and Japan rushed for supplies.  Since the start of November, high energy Australia coal — the benchmark for the vast Asian market — has climbed 45 per cent to $80 a tonne, according to a price assessment from Argus, while its South African equivalent is up 65 per cent to about $100 a tonne. The rally will be a relief for big Australian producers of the fossil fuel such as Glencore after prices traded below $50 a tonne in the second and third quarters due to a drop in industrial activity caused by coronavirus lockdowns. Traders say several factors are at play. First, the seaborne thermal coal market is tight. About 25m tonnes of Colombian production has been curtailed this year in response to weak prices and there is no fresh supply coming on stream as banks and investors refuse to finance new mines. At the same time, demand in Asia has started to pick up owing to the region’s economic recovery and more recently a cold snap. In China, where domestic production has not been able to match supply, that has led to soaring prices, a supply crunch and a search for imported coal. However, that has been complicated by an unofficial ban on Australia coal due to a diplomatic spat. As a result, Chinese buyers have turned to producers in Indonesia, Russia, and even South Africa, which they have not imported from since 2016 due to impurities in the coal. Traders reckon about 1m tonnes of South Africa coal is currently on its way to China, with possibly more to follow. “Thermal coal prices have risen extremely fast over the past few weeks, primarily driven by the developments in China,” said analysts at CRU in a report. “Very high domestic prices and their large premium compared to import prices will incentivise more buying in the seaborne market.”
coolen: Thanks for that link to your more detailed thoughts. BISI is part of the Heller family empire, a status quo which has existed for donkeys years. BISI's UK property link is with London & Associated Props (code is LAS, I think). BISI has suffered local problems (coal and politics) whilst LAS is in retail property and has been re-negotiating its banking facilities. But those talks seem to be going okay. Also, a few frowns by minority investors over alleged directors' perks. Hence the big discounts on the two companies. That said, I agree with your implied thoughts on BISI and there's an interesting potential buyer of LAS shares hovering in the wings.
envirovision: Commodities daily: Forgotten energy By Javier Blas FT 10 Jan 2011 For many investors, oil and natural gas are the only energy commodities. But thermal coal, used to fire power stations, is also important even if it is often overlooked. Don't get me wrong, oil is still the most important source of energy, but rather than concentrating only on whether its price its $100 a barrel, investors should also pay attention to whether thermal coal prices continue their climb up towards records. Thermal coal is still the main source of electricity around the world. For example, China, the world's biggest energy consumer, relies on it for more than 80 per cent of its electricity supplies; Japan, around 65 per cent, and the US, for nearly 40 per cent. The cost of thermal coal in the Australian port city of Newcastle, a benchmark in the coal-dependent region of Asia, has risen above $130 a tonne, the highest in two years. Worse, senior mining executives and traders say that annual contracts, which run April-April because they are set on the basis of the Japanese fiscal year, could rise as high as $140 a tonne, an all-time high, above the record of $125 a tonne set in 2008. The chatter about record prices is well above the forecast from most City of London analysts, who are forecasting annual contract prices of $115-$125 a tonne. The negotiations for the 2011-12 year with Japan, South Korea and Taiwan are about to start and traders believe they are going to be one of the most difficult ever. The increase in thermal coal annual prices, which affect around 40-50 per cent of the seaborne trade of coal, will put pressure on electricity prices across the world, particularly in Asia, where coal is the main energy commodity to fire power stations. The flooding in Queensland state in Australia is partly behind the spike, but there are other elements at play related to unusual heavy rains. Wet weather in Colombia, South Africa and Indonesia has also curtailed production in those key exporters. Meanwhile, demand is strong, with China and India buying more and more overseas. For investors, a lack of thermal coal futures means that it is difficult to gain exposure easily to rising prices. True, sophisticated investors could turn to thermal coal swaps, with several banks involved in the trade of private, bilateral over-the-counter financial contracts. Beyond, equities are the only source of exposure, with companies from London-listed Xstrata to New York-listed Peabody. But the array of equity investment will increase this year with the arrival of two key companies to the London market: Bumi, the Indonesian thermal coal exporter, which is listing in the UK through Vallar, the London-listed cash shell founded by financier Nat Rothschild; and the flotation mid year of Glencore, the trader which is a powerhouse in coal.
westcountryboy: By definition, the 'smart investors' can't have left a long time ago :-) The last 2006 eps estimate I saw (some time ago now) was for 34.5p. The results for the parent company, London and Associated Properties, are also delayed until 28/10 for the same reason (IFRS) as BISI's, and noone is suggesting that LAS, with its terrifically exciting shopping centre in Windsor, has something to hide from the market :-) IC, in saying 'Good value' on 22 July, thought reserves were 14m tonnes plus 12m in the Pegasus joint venture. But I suspect that 400p may be a hard hurdle to jump, sinply because of the price rise up to now.
diogenesj: Hi, Stan. Always nice to see you, but I'm not sure that the valuation of mining shares is really your thing. Remember what you said a year ago, when the price was 149.50p? "stan - 11 Sep'04 - 15:17 - 91 of 332 massively overvalued!!!" Today's price is 392.5p, up 162%. In this particular case, it seems that the smart investors are the ones who did not take your advice. :-)
stan: remember IC recommended to take profits at 310p vague chatter of a bid only suggested a 350p take out price it's now over 390p they have only a fraction of the reserves that bisiboy suggests like myopia says - delayed results i reckon irrational exuberance is driving this share now the smart investors left a long time ago it could be heading for a big fall.
stan: "take profits" recommends Investors Chronicle today.
diogenesj: Doubleorquits has just very kindly sent me the Shares rag tip. It provides some background information about Bisichi and quotes the Evolution forecast. It concludes that investors look likely to take an increasingly sober view of mining companies this year, and that should highlight the attractions of Bisichi... bright mining prospects, solid property...shares should rise sharply.
sammu: stan - 5 Mar'05 - 19:12 - 295 of 296 high enough Yes nice one DJ. That comment sounds like something Investors Chronicle might say! With regard to only having 15mln tonnes of reserves. That's more than 10yrs worth at the current ramped up production rate. I would however expect them to pick up more reserves in the next 12-18 months. They mention that they are in the market in the results. Sam
angel of the north: Bought in this morning - so tis my duty to ramp? a little? More:...... Soaring prices and black empowerment help Bisichi succeed Two key factors lie behind the startling recent success of Bisichi. First is the dramatically rising coal price which has doubled, from $30 to $60 a tonne just since last April. This in turn reflects soaring demand in China, which has gone from being an exporter of coal to a net importer sucking in coal from Asia and Africa. The second factor is black empowerment. Bisichi went the whole hog on black empowerment by selling a 37.5 per cent stake in its Black Wattle Colliery to a black-controlled company, which has then been instrumental in opening many doors to the company. In particular black empowerment status has enabled Bisichi to become an exporter of coal through Richards Bay Coal Terminal. The company says that the long-term export contract it has been able to negotiate locks in a significant profit margin. It is complicated to calculate exactly what effect a rising coal price has on Bisichi because of the mix of production between exports, coal sold into the local market and low phosphorous coal sold at a premium to furnaces producing stainless steel. At the half-year stage for the first six months of calendar 2004 the group said that average selling prices for coal were 21 per cent higher than in the second half of 2003. Since then the coal price has risen further. Investors were initially disappointed when the interims showed profits falling from £746,000 to £726,000 with operating profits down from £1.00m to £883,000. However the company says this was a very good performance because it came despite needing to move all three mining sections at the Black Wattle Colliery during the period to exploit new reserves. Gan canny oot there.......!
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