Ferrexpo Share Discussion Threads

[bellbottom] 18/4/2017 13:55

I blame Theresa May - pound up, markets down. June 8th General Election date!!

[bellbottom] 18/4/2017 13:35

Looks like the pendulum might be stuck. Not swinging back in the other direction.

[bellbottom] 18/4/2017 11:22

Sorry for the translation. Just some general Ferrexpo tax data from its various mining interests in Ukraine. Translated from Interfax.com.ua

Eristov Mining and Processing Plant (GOK), part of the group Ferrexpo (EGOK, Ferrexpo Yeristovo Mining, FYM), in 2016 increased its payments of taxes and duties to the budgets of all levels by 16% compared with 2015 - up to UAH 176.7 million (151.9 million USD).

According to a press release Ferrexpo on Tuesday with reference to the structure of the enterprise payments, for the reporting period Eristov GOK listed more than 93.7 million UAH to the state budget, the regional - more than 43.7 million USD, local - more than 39.3 million USD (53%, 25% and 22% respectively).

In this case, it states that payments to the budget Gorishnii smoothly totaled 29.1 million USD, strike dead - 3.9 million UAH Dmitrovka - 6.3 million USD.

The company has paid for eight months of the environmental tax more than 17.2 million USD, PIT - more than 16 million USD, other taxes and fees - more than 0.2 million USD.

For subsoil use EGOK paid more than 110.5 million USD, which is 45% more than in 2015 (76.3 million USD), the rent for the land amounted to more than 1.1 million UAH, sublease of land - more than 17.3 million UAH .

In addition, a single social contribution of the enterprise paid to the tax authorities for the Pension Fund of Ukraine needs, amounted to more than 28.8 million USD.

The company paid an environmental tax for 12 months of 2016 - more than 22.4 million USD, personal income tax - a 25.1 million USD, other taxes and fees - more than 205.8 thousand. UAH.

Eristovky mine was commissioned in 2008. It has a license for the production of iron ore before 2049. GOK is a major new crude iron ore in the CIS, developed after the collapse of the USSR. Currently EGOK produces about 15 million tons of ore per year - at Poltava GOK.

Ferrexpo - Swiss iron mining company with assets in Ukraine. The main activity is the production and export of high-quality iron ore pellets used in steel production.

Ferrexpo Group is the largest manufacturer and exporter of pellets used among countries. THE USSR. Current production assets - Poltava GOK and Eristov.

In 2016 it produced 11.2 million tons of iron ore pellets.

The main customers are steel mills from Austria, Slovakia, Czech Republic, Germany and other European countries as well as from China, India, Japan, Taiwan and South Korea.

[bellbottom] 18/4/2017 11:13

Anyone any idea why such a large drop today so far? Far exceeds iron ore price drop and haven't heard any 'bad news' on the horizon?
It may just be a general retrace which usually happens after good news and also divi payment date passed?!
I am hoping it will soon stabalise and then start a slow climb back up towards 170 and above. But hey, what do I know? After all these years its still a mystery to me.
You win some, you lose some, you check your figures at the end of a decade and find that one cancels out the other. Sorry, having a pessi day today.

[pbutterworth1] 18/4/2017 09:35

...but probably not forever...

[onedb1] 18/4/2017 09:17

Same here T Ready to pounce .

[telbap] 18/4/2017 09:10

Will be buying more if we hit 140

[lateralam] 18/4/2017 09:04

Over 17% down in a week.

[bellbottom] 18/4/2017 08:48

Iron ore down about 4% - Ferrexpo following that downward trend.
If ore keeps dropping then FXPO will follow.

[onedb1] 13/4/2017 14:04

Just to put iron ore in perspective last I checked earlier today it was at $71 .

This is much higher than the H2 2016 average. And much higher than $55 to make things profitable for Ferrexpo , with debt worries for this year and I suspect next year too probably taken care of now, ie cash pile should already be sufficient for this year and already helping next year's deadline . Hence Moody's upgrade of our corporate debt.

But hopefully another drop will help me pick up these shares an what I perceive to be value again. Sell chaps please ;-)

[onedb1] 13/4/2017 13:59

I will buy on support here. The breakout target , or about 80% of it , should coincide very much to where the drop will end and it will end with a RSI oversold level.

Bit of luck doesn't hurt here as I see this an opportunity to buy sub 6 P/E ratio and don't see how this first quarter hasn't been anything but great for the finances.

I equally suspect that production is partly hedged anyway so whilst iron ore dropped from its highs its still much higher than in h2 2015.
I so hope that price keeps on lowering to buy cheaper stock . Greedy as I am lol .
That 175 market a strong resistance level. Mark it down for the future as that will be the level we need to pass to head for the 200s.

[lateralam] 13/4/2017 12:48

Yes, wondering myself. All my recent profits nearly eroded!

[bellbottom] 13/4/2017 12:15

Not a nice day so far today. That's about an 11% drop in a week. Explanations anyone or is it purely down to post divi day and iron ore prices.

[bellbottom] 12/4/2017 14:19

Is this drop not in alignment with drop in iron ore price?
I'd be adding too, but no spare cash.

[sarahbudd] 12/4/2017 14:08

yes agreed - adding

[onedb1] 12/4/2017 14:01

Current valuation totally out of sync with fundamentals .Poor P/E ratio of just about over 6 at the moment . Just added a few myself . Totally underplaying the cash built and strong revenues . Crickey we even had a return to a dividend . Moody's upgrade . As always this is a classic buy on a dip situation

[bellbottom] 12/4/2017 09:17

Another good article from yesterday on the relationship between the IMF and Ukraine.
A good read if you are interested in the country your iron ore investment comes from.

[bellbottom] 12/4/2017 09:02

Taken from The Guardian article - sums it up nicely.....

"In fact, the word corruption is a misleading one for Ukraine, since it implies a dishonest cancer afflicting an otherwise healthy organism, whereas in this case it was the other way round. Corruption was the system, and it metastasised into any parts of the state apparatus that remained healthy."

I note that Ukraine has climbed to 131, up from 144th in the Transparency International Corruption Index - see link for the full monty!
131st equal with Russia!

Interesting that Denmark the least corrupt country in the world (if you accept/believe the Index) In fact, most of the top ten are Scandinavian countries. Didn't they also recently top the poll for happiest countries in the world?!

[bellbottom] 12/4/2017 08:49

Excellent artical from today's Guardian, outlining the amazingly convoluted and ongoing situation regarding large scale corruption and US/IMF attempts to help 'clean up' the mess that is Ukraine's political and financial state.

The US/IMF do have them proverbially by the "short and curlies" but looks continually unlikely that there will be much success in recovering all those millions if not billions from the likes of Yanukovich and his associates.

Recommended reading.

[bellbottom] 11/4/2017 15:54

Missed this from last Friday.



Our Mr Zhevago gets a mention by the head of NBU, who herself is under investigation.



Nice to get the 1st of this year's dividends today, but a whopping deduction for SWT.
Share price has been reasonably stable over last few trading days. Hoping that she starts the next stage of her rise to £2 and above.

[sarahbudd] 11/4/2017 14:24

if in trading account you can claim on your SA tax return

[fangorn2] 11/4/2017 13:11

Agreed. WHT on this is ridiculous.

Any holders here gone through the reclaim process?

[sarahbudd] 11/4/2017 11:49

well for the first time AJ are on time... nasty tax though