Author Topic: GlencoreXstrata - GLN  (Read 40862 times)

jaDEB

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Re: GlencoreXstrata - GLN
« Reply #30 on: January 20, 2014, 08:07:07 am »
Yes GLN did indicate that they need Gold in their portfolio and buying some gold company / mine is not out of the question...
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jaDEB

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Re: GlencoreXstrata - GLN
« Reply #31 on: January 20, 2014, 08:31:46 am »
 8)
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Re: GlencoreXstrata - GLN
« Reply #32 on: January 21, 2014, 09:03:02 am »
Also listed in Hong Kong
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Re: GlencoreXstrata - GLN
« Reply #33 on: January 23, 2014, 04:56:52 pm »
 ;)  :TU:
jaDEB

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Re: GlencoreXstrata - GLN
« Reply #34 on: January 30, 2014, 09:39:36 am »
GLN - 2014 Distribution Timetable

Glencore Xstrata plc
(Incorporated in Jersey under the Companies (Jersey) Law 1991)
(Registration number 107710)
JSE Share Code: GLN
LSE Share Code: GLEN
HKSE Share Code: 805HK
ISIN: JE00B4T3BW64

BAAR, SWITZERLAND                                                                30 JANUARY 2014

                                    2014 DISTRIBUTION TIMETABLE

Glencore Xstrata plc announces the timetables of its distribution (dividend) events for 2014.

                                  2013 FINAL DISTRIBUTION TIMETABLE

Distribution event                                            Date (all 2014)
------------------------------------------------------------------------------------------------------
Announcement of recommended 2013 Final Distribution           Tuesday 4 March

Applicable exchange rate reference date (Johannesburg         Friday 2 May
Stock Exchange (JSE))

Last time to trade on JSE to be recorded in the register      Close of business (SA) Friday 9 May
on record date                                               

Last day to effect removal of shares cum div between          Friday 9 May
Jersey and JSE registers

Final Ex-Div date (JSE)                                       Monday 12 May

Final Ex-Div Date (Jersey and Hong Kong)                      Wednesday 14 May

Last time for lodging transfers in Hong Kong                  4.30pm Thursday 15 May (HK time)

Final Distribution Record Date in Hong Kong                   Opening of business (HK) Friday 16 May

Final Distribution Record Date for JSE                        Close of business (SA) Friday 16 May

Final Distribution Record Date in Jersey                      Close of business (UK) Friday 16 May

Deadline for return of currency election form                 Monday 19 May
(Shareholders on the Jersey register only)

Removal of shares between the Jersey and JSE registers        Monday 19 May
permissible from

Annual General Meeting - Shareholder vote to approve          Tuesday 20 May
2013 Final Distribution                                                           

Applicable exchange rate reference date                       Wednesday 21 May                                                             
(Jersey and Hong Kong)

Final Distribution payment date                               Friday 30 May

Dematerialisation and rematerialisation of registered share certificates in South Africa may not be
effected during the period from Monday 12 May 2014 to Friday 16 May 2014, both days inclusive.

Distributions will be declared and paid in U.S. dollars, although Shareholders on the Jersey register will
be able to elect to receive their distribution payments in Pounds Sterling, Euros or Swiss Francs.
Shareholders on the Hong Kong branch register will receive their distributions in Hong Kong dollars.
Shareholders on the Johannesburg register will receive their distributions in South African Rand.

                              2014 INTERIM DISTRIBUTION TIMETABLE

Distribution event                                            Date (all 2014)
------------------------------------------------------------------------------------------------------
Announcement of 2014 Interim Distribution                     Wednesday 20 August

Applicable exchange rate reference date (JSE)                 Friday 22 August

Last time to trade on JSE to be recorded in the               Close of business (SA) Friday 29 August
register on record date

Last day to effect removal of shares cum div                  Friday 29 August
between Jersey and JSE registers

Interim Ex-Div date (JSE)                                     Monday 1 September

Interim Ex-Div Date (Jersey and Hong Kong)                    Wednesday 3 September

Last time for lodging transfers in Hong Kong                  4.30pm Thursday 4 September (HK time)

Interim Distribution Record Date in Hong Kong                 Opening of business (HK) Friday 5 September

Interim Distribution Record Date for JSE                      Close of business (SA) Friday 5 September

Interim Distribution Record Date in Jersey                    Close of business (UK) Friday 5 September

Deadline for return of currency election form                 Monday 8 September
(Shareholders on Jersey Register only)

Removal of shares between the Jersey and JSE                  Monday 8 September
registers permissible from

Applicable exchange rate reference date                       Wednesday 10 September
(Jersey and Hong Kong)

Interim Distribution payment date                             Friday 19 September

Dematerialisation and rematerialisation of registered share certificates in South Africa may not be
effected during the period from Monday 1 September 2014 to Friday 5 September 2014, both days
inclusive.

Distributions will be declared and paid in U.S. dollars, although Shareholders on the Jersey register will
be able to elect to receive their distribution payments in Pounds Sterling, Euros or Swiss Francs.
Shareholders on the Hong Kong branch register will receive their distributions in Hong Kong dollars.
Shareholders on the Johannesburg register will receive their distributions in South African Rand.
jaDEB

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jaDEB

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Re: GlencoreXstrata - GLN
« Reply #35 on: February 07, 2014, 09:25:33 am »
The deal with JPMorgan, if completed, will make Mercuria one of the top global commodities traders, like Glencore Xstrata plc (GLNCY), Vitol and Trafigura. Further, Mercuria’s expansion in the U.S. is expected to be beneficial as the shale oil boom is opening up new avenues for profits

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Re: GlencoreXstrata - GLN
« Reply #36 on: February 11, 2014, 10:15:03 am »
PRODUCTION REPORT FOR THE 12 MONTHS ENDED 31 DECEMBER 2013

Following completion of the GlencoreXstrata merger on 2 May 2013, production information for all periods covered in this
report has been presented on a combined basis.

Key Highlights:

-   Total own sourced copper production up 26% to 1.5 million tonnes in 2013, driven by strong growth in African
    copper, Collahuasi, Antapaccay and Ernest Henry:
        -    African copper up 43% to 398,600 tonnes, as the key expansion projects, Katanga and Mutanda,
             successfully grow production, both reaching 200,000 tonnes p.a. capacity at the end of 2013.
        -    Collahuasi increased production 58% to 195,600 tonnes, with H2 2013 up 91% compared to H1
             2013, as production ramped up, following the SAG mill restart and a return to higher grades.
        -    The Antapaccay and Ernest Henry projects are progressing well.
-   Perseverance and Brunswick mines reached the end of their mine lives in June 2013, resulting in a decline in
    total own sourced zinc and lead production, only partially offset by the growth projects in Australia and Africa.
    Excluding Perseverance and Brunswick, zinc production increased by 7% in 2013.
-   Koniambo started production in Q4 2013 and is in the early stages of ramp-up.
-   Quarterly sequential (Q4 13 v Q3 13) increase in all Base Metal (Cu, Zn, Pb and Ni) own source production.
-   Ferrochrome production up 32% to 1.2 million tonnes based on higher utilisation of the smelters and furnaces
    and the successful commissioning of the Tswelopele pelletizing plant.
-   Own sourced gold production up 14% to 1,023,000 oz, driven by strong growth at Kazzinc and Antapaccay.
-   Coal production up 4% to 138.1 million tonnes during 2013, driven by a number of key expansion projects at
    Prodeco and various Australian thermal coal assets.
-   Successful commencement of production at Alen (Equatorial Guinea) and Badila (Chad) oil fields in 2013.
-   Successful sale of the pasta and malt businesses during 2013, acquired as part of Viterra.
-   The Group's resources and reserves report was also issued today, noting:
        -    Significant growth in Mutanda copper ore reserves and mineral resources, up respectively, 23% and
             25% to 2.0 million and 7.4 million tonnes of contained copper.
        -    The recognition of ore reserves at Las Bambas, containing 6.9 million tonnes of copper.
        -    An increase of 21% in iron ore mineral resources to 4.6 billion tonnes of contained iron (100% basis),
             mainly as a result of increased resources at El Aouj.
        -    An increase of 129% to 87 mmboe in 2P net oil reserves, primarily through the recognition of
             acquired Chad reserves and an increase of 223% to 387 mmboe in 2C net contingent oil resources,
             mainly resulting from drilling in Cameroon.

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gcr

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Re: GlencoreXstrata - GLN
« Reply #37 on: February 11, 2014, 03:17:22 pm »
What is quite amazing about this company - is that they have just recently bought a dragline coal digger - a real monster for R 173 million. Considered a snip given that a new one cost almost a billion Rand and costs R 90 million to deliver. They are not going to disassemble it as the cost is prohibitive so they are going to creep it to their site at something like 1 klm per day - hope the site is not too distant :LHST:
Not everything that counts, can be counted, and, not everything that can be counted counts - Albert Einstein

jaDEB

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Re: GlencoreXstrata - GLN
« Reply #38 on: March 04, 2014, 09:40:32 am »
NEWS RELEASE
Baar, 4 March 2014

Preliminary Results 2013
Key Highlights:

-   Adjusted pro forma EBITDA of $13.1bn consistent with 2012, reflecting:
      – Strong marketing results, with Adjusted EBITDA up 17% to $2.6 billion (Adjusted EBIT up 11% to $2.4 billion).
      – Industrial Adjusted EBITDA lower by a respectable 4% to $10.5 billion, as increased production and improved
        cost management, aided by some merger related synergies, substantially mitigated the impact of the weaker
        commodity price environment.
-   Strong year for production growth:
      – Copper up 26% to 1.5 million tonnes, including African copper, up 43%, with Mutanda and Katanga each
        reaching 200,000 tonnes p.a. capacity at year-end and 58% production growth at Collahuasi.
      – Ferrochrome up 32% to 1.2 million tonnes based on higher utilisation of the smelters and furnaces and the
        successful commissioning of the Tswelopele pelletizing plant.
      – Coal up 4% to 138.1 million tonnes, driven by expansions at Prodeco and in Australian thermal coal.
      – Start-up of production at the Alen (Equatorial Guinea) and Badila (Chad) oil fields.
-   Successful integration of Xstrata, with sustainable annual synergies of $2.4 billion identified and substantially
    delivered. The full benefit is expected to be realised in 2014, with implementation costs of some $0.3 billion, mostly
    incurred in 2013.
-   Net debt increased to $35.8 billion as the Group nears completion of many of its large development projects,
    including McArthur River, African copper and the pre-commissioning of Koniambo, the benefits of which should start
    to accrue in the near term. Capital expenditure is now on steeply declining trajectory.
-   Operating cash flow generation in the form of pro forma FFO was solid at $10.4 billion, slightly ahead of 2012.
-   Overall balance sheet remains strong and flexible with $13 billion of committed available liquidity at year-end.
-   Active balance sheet / portfolio management continued:
      – Las Bambas sale process ongoing.
      – Successful sale of the pasta and malt businesses during 2013, acquired as part of Viterra.
      – Repayment of $1.2 billion of Russneft loans received during the year.
-   Secondary listing on the JSE, deepening our relationship with South Africa and highlighting our confidence in Africa
    as an investment destination.
-   Statutory Day One goodwill impairment of $7.5 billion was recorded in relation to the Xstrata acquisition, reflecting
    the broader negative mining industry environment / sentiment which prevailed during 2013 and the heightened risks
    associated with greenfield and large scale expansion projects.
-   Board has recommended a final distribution of $11.1 cents per share, or $16.5 cents for the full year, some 4.8%
    higher than 2012, reflecting our continued confidence in the strength and prospects for the group.

Glencore's Chief Executive Officer, Ivan Glasenberg, commented:
"Our marketing division once again delivered a strong overall performance, while the modest year on year decline in our
industrial asset performance inevitably reflected the weaker commodity price environment in 2013.
Glencore remains the only genuinely diversified natural resources company in respect of business activity, commodity
and geography. Our financial performance in 2013 reflects this, with a consistent pro forma EBITDA and operational
cash flow performance compared to 2012.

As we look ahead to 2014, we continue to see healthy demand growth in all our key commodities, underpinned by the
long term trend of urbanisation in emerging markets and parts of the developed world returning to trend growth."
In addition, Glencore has today published on its website (www.glencorexstrata.com) a presentation which contains a
summary of the 2013 preliminary results.
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Aragorn

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Re: GlencoreXstrata - GLN
« Reply #39 on: March 05, 2014, 08:41:41 am »
Forecast stats for GLN courtesy OST

As at: 20 Feb 2014
                31 Dec 2014    31 Dec 2015    31 Dec 2016
DPS cents           174.00         173.00         191.00
EPS cents           364.00         477.00         693.00
PE                  16.50          12.59          8.67
Earn Y %            6.06           7.94           11.54
Divi Y %            2.90           2.8            3.18

Not idly do the leaves of Lorien fall.

jaDEB

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Re: GlencoreXstrata - GLN
« Reply #40 on: March 11, 2014, 12:22:35 pm »
@ griffin.

I bought at R54.74, I think now will be a good time to buy. Of course you can wait to see if it goes down more, but I think if it turns it will go up quick and might pay more R60 level.


KIO  :(  >:(  8)

Iron ore extended its decline into a bear market, slumping by the most since August 2009, amid concern that demand in China is slowing just as rising output signals a global glut.
Ore with 62 percent content delivered to Tianjin fell 8.3 percent to $104.70 a dry ton, the lowest since October 2012 and the biggest drop in more than four years, according to data from The Steel Index Ltd. yesterday. The benchmark price lost 27 percent since Aug. 14, when it reached a five-month high of $142.80. The raw material dropped into a bear market on March 7.

Nickel is up, Copper down.

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jaDEB

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Re: GlencoreXstrata - GLN
« Reply #41 on: March 11, 2014, 01:41:45 pm »
Thanks Jadeb, I prefer to wait it out and buy in under R50 with a margin of safety. Hope the Chinese do me a favor here...  :whistle:

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Moonraker

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Re: GlencoreXstrata - GLN
« Reply #42 on: March 11, 2014, 03:21:22 pm »
I am not a fan of resources at all, but of  them all GLN would be my pick. The balance sheet would have looked a lot better were it not for the 7,5 billion $ Xtrata goodwill. That's out of the way and barring a Chinese disaster, the stock should perform quite well for 2014.

jaDEB

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Re: GlencoreXstrata - GLN
« Reply #43 on: March 13, 2014, 12:08:34 pm »
 :whistle:
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Re: GlencoreXstrata - GLN
« Reply #44 on: March 14, 2014, 08:45:20 am »

Commodities are getting whacked upside the head right now. Glencore has huge copper exposure in Zambia and the DRC and copper is falling out of bed since the Chinese have all been using it as a carry trade on the USD:RMB. Now that the banks are calling margin every man and his dog in China is dumping copper. Same story for iron ore - Kumba shares should soon be taking a big hit... Chinese steel mills are closing left, right and centre. The commodity and credit crunch in China could spill over to the housing sector bubble as well... Remember that the Chinese have also traditionally used gold as a financing means... When copper is done I expect that gold will be dumped as well if the margin calls continue....

The iron ore and steel crunch also affects alloys so expect SA chrome, manganese and nickel producers to suffer as well.... Assmang and Xstrata alloys are not going to be reporting decent profits this coming year I can tell you that now..... However, European and US demand for alloys is a little better than Asian demand although it can't soak up all the excess supply.

Resources have started the year off well but they look like ending this year in worse shape than last. Maybe gold and platinum will do OK but basic materials will get hammered on a hard Chinese landing.

Here's an interesting thought on Cyril Ramaphosa...... Glencore is Shanduka's paymaster (or in more politically correct terms, Shanduka is Glencore's BEE partner). Glencore has huge oil interests in South Sudan but have been having huge problems getting their oil out of the state producer, what with the pesky war and kick-backs and all the usual commodity trading stuff..... In Zuma's recent state of the nation address Cyril Ramaphosa is being deployed to South Sudan to negotiate peace on the spurious notion that he can handle conflict from his days with the NUM. How utterly convenient for Glencore. I don't know why this is not being shouted from the rooftops but watch the news stories from South Sudan concerning Glencore's oil after Mr. Ramaphosa's visit...... There are some wonderful stories about Glencore from across the globe concerning ladies of the night, brown paper bags, incriminating photographs slipped into contracts to be signed etc... But then again, Mercuria, Trafigura, Vitol, Freepoint, Cargill etc. are not all exactly blameless either..... This is the wonderful world of physical commodities....
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