Glencore Share Discussion Threads

[foxy22] 01/5/2018 14:11

What percentage of glens business is in the congo...or what revenues %wise come from the congoDoes anyone have an idea

[zho] 01/5/2018 11:43

The commodities industry has been focused on the crisis surrounding Rusal, the Russian aluminium producer, but a number of disputes entail higher prices for copper and cobalt.



Free content, although I think you have to register

[action] 01/5/2018 08:13

Rbc views are changing like wind direction.

[losses] 30/4/2018 15:40

Oops bought in today think exdiv was in May..

[fishking1] 30/4/2018 15:31

Was 26 Apr 2018.

[losses] 30/4/2018 15:19

When is xdiv on this?

[gxgxx] 30/4/2018 12:06

It will blow over and normal business will be resumed.
This week should be good for numbers and profit updates.
Price is artificially low as per the MM's
They make money either way.

[zho] 30/4/2018 11:52

Israeli businessman Dan Gertler has launched legal action against Glencore, his former partner in the Democratic Republic of Congo, seeking almost $3bn of damages from the Swiss miner and commodity trader.

Mr Gertler, who was placed on a US sanctions list in December, has also served freezing orders on Glencore’s key copper and cobalt assets in the country in a dispute over royalty payments.





See also

[nahoon] 30/4/2018 10:25

Downgraded to Outperform!!! First time I've ever seen that!
Price target now 4.10 instead of 4.60

[enewman36] 30/4/2018 09:56

Coupled with a downgrade...

"At the other end of the large cap index, Glencore was the worst performer down 3.1% after RBC Capital downgraded the commodities house to Outperform from its original rating as its Top Pick in the sector."

[johnsoho] 30/4/2018 08:55

SCOBLE2, I think the markdown is because of the following RNS.

Ventora Development Sasu ("Ventora"), a company affiliated with Mr Dan Gertler, has today served in the Democratic Republic of the Congo ("DRC") freezing orders against Mutanda Mining Sarl ("Mutanda") and Kamoto Copper Company ("KCC"), subsidiaries of Glencore Plc, for approximately $695 million and US$2.28 billion respectively.

Ventora alleges that Mutanda has breached an agreement with Ventora pursuant to which it alleges Mutanda is required to make royalty payments to Ventora by indicating that it will not pay such royalties as a result of Mr Gertler's designation as a Specially Designated National ("SDN"). Ventora asserts that if its claim for breach is upheld it will be entitled to damages of approximately $695 million which it alleges is the value of the future royalties due to it under the agreement.

Ventora alleges that KCC has breached an agreement between KCC, La Générale des Carrières et des Mines ("Gécamines") and Africa Horizons Investments Limited ("AHIL") (which Ventora claims has been assigned to it) pursuant to which it alleges KCC is required to make royalty payments to Ventora by indicating that it will not pay such royalties as a result of Mr Gertler's designation as a SDN. Ventora asserts that if its claim for breach is upheld it will be entitled to damages of approximately US$2.28 billion which it alleges is the value of the future royalties due to it under the agreement.

The freezing orders authorise the bailiff of the Commercial Court of Kolwezi to freeze certain bank accounts, tangible movable assets and intangible movable assets, such as receivables, of each of Mutanda and KCC as well as the mining titles, in each case up to the amount of the freezing order and prevent Mutanda and KCC from disposing and/or utilising these assets.

In December 2017, the United States government designated Dan Gertler and affiliated companies as SDNs, thereby imposing blocking sanctions on them and companies owned 50% or more by them.

The agreements with Ventora and AHIL were concluded prior to the designation by Mr Gertler as a SDN and arose when the Gertler affiliated entities acquired these rights from Gécamines.

KCC disputes the assignment by AHIL of its rights under its agreement with KCC to Ventora and that Ventora has any claim against KCC under such agreement.

The agreement between Mutanda and Ventora is subject to English Law and arbitration in Hong Kong (subject to certain exceptions for interim and provisional measures). The agreement between KCC and AHIL is subject to English Law and the exclusive jurisdiction of the English Courts.

Glencore denies that Mutanda and KCC are in breach of any of their obligations under their respective agreements with Ventora and AHIL and also entirely rejects Ventora's calculation of the value of the future royalties allegedly owed to Ventora. Mutanda and KCC will vigorously contest the freezing order and any subsequent proceedings.

Glencore is assessing the impact of the freezing order on Mutanda and KCC's operations in the DRC, but notes that the freezing orders may materially adversely affect such operations.

[keifer derrin] 30/4/2018 08:54

took me 20 seconds to find the reason for the price drop

[scoble2] 30/4/2018 08:46

why this markdown??

[action] 27/4/2018 15:12

10 cent usd

[trev1223] 27/4/2018 13:29

foxy: Will be announced at the AGM 2nd May.

[foxy22] 27/4/2018 12:51

Trev what is the div and when is it paid

[gutterhead] 26/4/2018 15:02

Agm and trading update

[trev1223] 26/4/2018 12:20

foxy : Yes, it is GLEN XD today.

[keifer derrin] 26/4/2018 11:10

why important?

[gutterhead] 26/4/2018 11:06

Important week coming up. Should push through 400p imo

[foxy22] 26/4/2018 10:51

Is this ex div today

[a2584728] 25/4/2018 09:50

Yes should bounce later on

[sparty1] 25/4/2018 08:12

so US sell off late yesterday was due to gilts rising to 3% ...so today us will probably pick up again and glen will have two opposing forces ..sellers for the gilt yield and buyers before ex divi tomorrow.
I `m hoping for a rise after 2.30..will sell @ £4. GL all

[a2584728] 24/4/2018 20:36

Another run to 400p this week I think