mining news

[Pipers]

Glencore

 

http://uk.investing.com/news/stock-market-news/glencore-to-suspend-dividend,-raise-equity-to-cut-debt-67636

 

http://www.bbc.co.uk/news/business-34171344

 

 

[KDave]

Glencore had a little rally this morning but it is going to be falling again once people put all the pieces together. The news out today about the debt cutting would be good on its own, but its accompanied by too many negatives;

 

From what I can see - 

 

10% (ish) share dilution coming up to service debt.

Cutting the final dividend.

Cutting copper production.

China Slowdown to continue.

Commodity still in a down trend. 

 

All in all not good really.

[HawkHybrid]

glencore may seam low now but should

get lower. there is no investment reason

to get in anytime soon. any share dilution

should be at a discount to the current

price. miners are a leveraged play on the

underlying commodity price.

 

HH

[Pipers]

I have read somewhere Glencore closing a Platinum mine in SA, I was doing research into buying some platinum at the time, I decided against it I reckon the bear market got a while to go yet.

 

Found an article

 

.http://www.bloomberg.com/news/articles/2015-08-18/glencore-to-shut-eland-platinum-mine-in-south-africa-union-says

[Stu]

Lonmin for a penny a pop.

 

http://www.bbc.co.uk/news/business-34763771