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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Mer.L.World Mng | MLW | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 735.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 735.00 |
| Top Posts |
|---|
Posted at 21/1/2008 11:37 by arja discount to NAV has been widening lately presumably because investors believe that commodity prices will keep falling ! A real bear market now but preceptions may change in time . I am not yet tempted to re-enter unless a day trade on a bounce presents itself - maybe one at the moment as Sp DOWN TO 546!! |
Posted at 12/11/2007 12:16 by aim_trader Merrill Lynch World Mining Trust09th November 07 MLW continues to offer investors excellent exposure to a portfolio of leading metals and mining stocks listed on exchanges around the world, and we believe further out-performance is on the cards |
Posted at 12/10/2007 17:59 by jimcar Yes they can go back into circulation. For example they could be given to directors exercising their options or given to investors converting their warrants |
Posted at 24/9/2007 14:28 by idioterna Arja,Whoops, slip of the tongue (thinking about the upcoming US elections I guess), naturally I mean Aunty Evy over at Black Rock. The only data they have for a holdings breakdown is from June 30th. |
Posted at 30/8/2007 07:40 by arja Idioterna,yes, of course there is manipulation in all markets by the big players . But my point is that why have a middle man who takes his sometimes quite big cut and hence less profit for investor or trader or higher loss if losing trade ! It is just " jobs for the boys" mentality sanctioned by the LSE!! No SD in OZ either so not necessary to make about 10% in spec stocks just to stand still as happens in UK ! All stocks should be SETS stocks here but the LSE keep the antiquated system going . |
Posted at 24/8/2007 09:58 by arja discount to NAV has arrowed considerably which is why it is so hard to trade this stock ! has been about 70p and now about 35p or so . Of course it is all about how investors perceive the outlook for base metal prices but undoubtedly MM manipulation plays a part as Nephin rightly pointed out ! MMs should be nade obsolete for all stocks - no MMs in OZ ever and works well ! |
Posted at 19/8/2007 20:16 by jimcar NephinSurely the drop in the NAV gap indicates that earlier, with the big discount, IT investors felt that the price of miners was looking relatively high and hence they refrained from buying. After the recent large falls in miners they are looking less overpriced and so are prepared to pay closer to NAV. |
Posted at 22/6/2007 22:26 by archieandrews i put the price anomalies down to lack of interest in the warrants, and the discouragingly large spread. it's only when they become quite obviously overpriced or underpriced that folk step up to deal and without volume things can easily get out of kilter. i'm sure the mms principal ambition is to balance their book irrespective of whether the warrants are cheap or not, so it mainly comes down to supply and demand and apathy. perhaps worth remembering that these warrants were freebies on the basis of one for five, and trade at only a fifth the price of the shares, so for many mlw holders their warrants are of little financial significance ( 1/25) compared to their mlw holding. it is our good fortune as private investors investing modest sums that such price anomalies can present opportunities, and mlw/mlwt is far from unique in this respect. |
Posted at 05/6/2007 07:55 by arja looks like a firmer bid on warrants at the opening so maybe catching up ! Mms are a real pain and I warrants would trade at a higher value if punters and investors were trading them and no MMs as in OZ . But jobs for the boys mentality and old fashioned ways keeps those MMs in a job!! |
Posted at 22/8/2006 08:05 by bionicdog Why this rich seam should last Booming prices and profits have led to a flurry of takeovers Marianne Barriaux Tuesday August 22, 2006 The Guardian The mining industry has never had it so good. Soaring commodity prices - nickel hit a record of $29,200 a tonne last week - driven by a shortage of supply and increasing demand have led to bumper profits for big and small mining groups. The huge amount of cash generated has led to increasingly audacious mergers and acquisitions, as illustrated by Brazil's CVRD, one of the largest miners in the world, which recently launched a C$19.4bn (£9.2bn) all-cash bid for the Canadian nickel producer Inco. Article continues -------------------- -------------------- Xstrata has also secured its long-awaited acquisition of the Canadian miner Falconbridge for £9bn, after battling it out with Inco, Phelps Dodge and Teck Cominco for the best part of a year. Other companies are now regarded as potential targets. Even Anglo American, the world's third biggest miner, is said to be a target once it demerges its non-core paper and packaging division. In the current cycle of high commodity prices, it seems anything is possible. Analysts acknowledge that these acquisitions are value enhancing. The integration of Falconbridge, a copper and nickel producer, will catapult Xstrata into the lucrative nickel market. Antofagasta's £211m bid for Equatorial Mining will give it control of the El Tesoro copper mine in Chile, increasing its presence in the global copper market. But with worldwide demand surpassing worldwide supply, one area of concern remains. Existing operations have been running at full capacity for the past three years, and there is little excess to replace production shortfalls. More importantly, there is a shortage of major new mines coming on stream. The big groups are getting rid of their plentiful cash by returning it to shareholders - Anglo American delighted investors by announcing it would hand back $5bn (£2.6bn) to shareholders after bumper results in the first half of the year and BHP Billiton is expected to announce a second share buyback of at least $2bn on Wednesday - but commodity users may well ask why they are not investing more of their excess cash in new projects to address future demand. Admittedly, BHP Billiton, the world's biggest miner, is developing $10bn worth of new projects. But it has forecast it will spend only $600m this year on exploration, and just $160m of that will be spent on mining. In fact, it is much cheaper and easier for a company to take over another valuable operator rather than invest in the exploration and development of a mine, which takes 10 years on average from the first discovery to the first tonne of metal produced. "Growing organically is getting harder and harder," says Simon Toyne, mining analyst at Numis Securities. "There is a shortage of skilled workers, some of the equipment required, like trucks, can take up to three years to be delivered, and costs and lead times for everything from dynamite to tyres continue to rise." BHP Billiton, for example, said that costs of the development of the Ravensthorpe nickel mine in Australia had soared 30% to $1.34bn and added it was further reviewing the budget and schedule of the mine. Digging deeper Moreover, exploration itself is getting harder. Access to prospective land is often restricted by environmental and community concerns, and miners are talking about the necessity of digging deeper to get at scarce resources - a process that would cost even more. More importantly, though, miners have learned their lesson. During the 1980s, the mining industry was hit by a copper price boom that led to companies rushing into opening new mines. This in turn led to excessive amounts of copper on the market, a collapse in prices, and many companies were left with unprofitable projects. In this context, growing acquisitively is more attractive for the bigger mining groups than investing in mines that could prove costly should prices fall. Junior companies are increasingly relied on for exploration, which the majors or mid-tier miners will take over or form a joint venture with. In 2005, according to accountants PricewaterhouseCoope Analysts say consolidation is set to continue, but ultimately the level of mergers and acquisitions depends on the level of commodity prices. These in turn hinge on the global economy and demand. China, which accounts for the bulk of new demand, is growing at a rate of about 10% a year, but it could slow down. There are signs that the US economy is running out of steam. Jason Burkitt, director of PwC's global mining practice, says that companies looking at potential acquisitions need to form their own long-term view rather than look at current prices. "Hedge funds and commodity traders have entered the fray, and any rise or fall is more pronounced. Also, the commodity prices are in US dollars, and the dollar has moved quite a lot." Charles Kernot, mining analyst at Seymour Pierce, says exploration started increasing significantly only in 2002, which means that new mines will be coming into production around 2012. When that happens, he says, prices will fall. But others, like Mr Toyne, believe demand, and therefore prices, could remain strong for a while. "China continues to grow. Even if GDP growth slows to 7% or 8% per year, annual incremental commodity demand is still substantial relative to the global market. And by the time it comes to the end of its industrialisation phase, India could take over, with GDP/capita just entering the commodity-intensive zone." He adds that even if copper prices halve, for example, they will still be higher than they were two years ago. When prices fall, consolidation in the industry will slow down. Those small companies that started developing projects off the back of high commodity prices will be snapped up by mid-tier groups. As for the bigger companies, a slowdown in the cycle will not necessarily mean that costs will drop accordingly, which would lead to a margin squeeze, and an erosion in confidence to make further acquisitions. Ultimately, though, analysts agree that investors need not worry about their mining stocks in the short and medium term. As PwC says in its annual mining review: "Let the good times roll." Explainer: Labour unrest High commodity prices have led to workers seeking a share of the mining companies' profits. As a result, the sector has recently been plagued by industrial unrest with miners striking for higher wages and bonuses. Workers at the world's largest copper mine, in Escondida, Chile, which is majority-owned by BHP Billiton, have been on strike for two weeks. They are seeking a pay rise of 10 percentage points above inflation and a £15,355 bonus but BHP's latest improved offer was rejected on Sunday night. BHP closed the mine late last week after miners blocked the road to the site but yesterday the company said the mine, which accounts for 8% of world output, was running at about 50% of capacity. Copper is used in the electricity, electronics and construction sectors. Inco is having to weather a strike at its Voisey's Bay mine in Labrador, Canada, which accounts for about 4% of global nickel output. Workers there are demanding wage parity with other mine workers at Inco mines. Nickel is used mainly in making stainless steel. Two of Grupo Mexico's mines, Cananea and La Caridad, have been shut by strikes this year, causing mineral production to shrink 0.6% in the second quarter of the year. The company resorted to firing its workers at La Caridad to end the four-month strike, and has said it is re-hiring employees and repairing the damage. Kumba Resources, the biggest iron-ore miner in South Africa, saw a strike at some of its subsidiaries end earlier this month after it offered an average 8.5% pay rise, as well as a 10% rise in the housing allowance. Iron ore is used for making steel. |
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