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For anyone on Rio FMG or BHP:
So we could have lost our advantage..how weird that China is engineering to move away from our high grade ore after only what ? 5 years of Australia blatantly going US side even to the point of weapons specifically targetting China ...
Iron is the most common element on Earth, I am amazed that we even made so much money from iron ore..
 
DrBourse said:
Further to my Sunday 23/4/823 11.42am post, it looks as though BHP will bounce off the Bottom Linear Regression Support Line (pages 139 to 142) tomorrow 27/4/23, Check out the CCI Indicator (pages 108 & 109), it should cross up through its WMA tomorra for a ST Uptrend, I will not enter now, Keeping my Powder Dry, I need to wait for a TA confirmation Signal tomorrow morning.....
View attachment 156253

Remember to DYOR....
Cheers.. DrB
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its 10.06am 27/4/23 B careful with BHP and watch out for the Overhead Res Lines, yes it opened UP this am, BUT the MFI suggests the Big End of Town, the ones with lotsa Moolah are not interested yet..
Note the CCI rose as I suggested, but that is only a Knee Jerk Reaction by the smaller punters...., BUT also note the MFI is still falling as it reflects lack of Big Dollar Volume.
20230427 BHP Cht 10.09am.png


I'm goint to be away for most of today, and probably all of tomorrow, so you are on your own with BHP from here till Monday.
DYOR again..
Cheers..
DrB.
 
One key item missing among the western analysts dealing with feasibility studies
There is always a cost in processing lower grade and that is always expressed as higher energy cost.
So a BHP analyst will compare cost of 1 tonne of steel based on top grade Australian ore or shitty African or Chinese low grade ore and using his western energy cost including woke solar wind gas and taxes extra costs...
And say.nah they can not do it.not economically viable..yet they do!!!
Except in China, they burn cheap crappy coal from Chinese and Mongolian mines, and energy is bloody cheap .as it is outside the west.
So the CO2 GW narrative find its way even there sapping every part of our economy
As an anecdote, there is a post going the rounds on the net about a Malaysian Airbnb which had bad Chinese customers who acted in revenge and spent a month with all taps on, all lights ,AC ,oven , heaters on.
The poor owner ended up with a bill...which is still below my monthly AGL power bill where I used less than a third of what I give back to the grid..
Says it all
 
qldfrog said:
One key item missing among the western analysts dealing with feasibility studies
There is always a cost in processing lower grade and that is always expressed as higher energy cost.
So a BHP analyst will compare cost of 1 tonne of steel based on top grade Australian ore or shitty African or Chinese low grade ore and using his western energy cost including woke solar wind gas and taxes extra costs...
And say.nah they can not do it.not economically viable..yet they do!!!
Except in China, they burn cheap crappy coal from Chinese and Mongolian mines, and energy is bloody cheap .as it is outside the west.
So the CO2 GW narrative find its way even there sapping every part of our economy
As an anecdote, there is a post going the rounds on the net about a Malaysian Airbnb which had bad Chinese customers who acted in revenge and spent a month with all taps on, all lights ,AC ,oven , heaters on.
The poor owner ended up with a bill...which is still below my monthly AGL power bill where I used less than a third of what I give back to the grid..
Says it all
Click to expand...
Yep, there are some very mentally sick or revengeful people out there.
I always believe that there is a place n need for coal. Not everyone have a comfortable n leisurely lifestyle to live.
My mind tends to wonder to our homeless people n the underdeveloped countries villagers facing cold winter.
 
qldfrog said:
One key item missing among the western analysts dealing with feasibility studies
There is always a cost in processing lower grade and that is always expressed as higher energy cost.
So a BHP analyst will compare cost of 1 tonne of steel based on top grade Australian ore or shitty African or Chinese low grade ore and using his western energy cost including woke solar wind gas and taxes extra costs...
And say.nah they can not do it.not economically viable..yet they do!!!
Except in China, they burn cheap crappy coal from Chinese and Mongolian mines, and energy is bloody cheap .as it is outside the west.
So the CO2 GW narrative find its way even there sapping every part of our economy
As an anecdote, there is a post going the rounds on the net about a Malaysian Airbnb which had bad Chinese customers who acted in revenge and spent a month with all taps on, all lights ,AC ,oven , heaters on.
The poor owner ended up with a bill...which is still below my monthly AGL power bill where I used less than a third of what I give back to the grid..
Says it all
Click to expand...
yes , but there is a point , where it is more effective to use rubbish local coal , to make steel from the local low-grade ore ( except for special projects ) employing extra local labor and transporting in over creaky local infrastructure ( and maybe even they will pay the 'carbon tax ' , instead of corrupting somebody )

look at how high prices ripped the potential sales out of rare earth magnets there comes a point where the 25% drop in efficiency outweighs the cost of the top-end item

and .. if all the resources are local you tend to avoid supply chain issues ( like import bans , wharf strikes , etc etc )

sometimes ' cheap and cheerful' is good enough ( like tools for workers that forget to bring them back )
 
Rabbithop said:
My mind tends to wonder to our homeless people n the underdeveloped countries villagers facing cold winter.
Click to expand...
do you mean the ones with non-engineered solutions ??

even back in the 1990's the English worked out the benefits of double glazing and there have been people , living in Northern Europe for over 1000 years ( the Himalayas as well )
 
Reports BHP already looking to sell off the OZL small fish such as their projects in Brazil.

Hey, look over to the west BHP, a little Nickel project you could swap them for at a bargain price. Better than West Musgrave!

Screenshot 2023-05-27 at 8.28.56 am.png


Screenshot 2023-05-27 at 8.22.31 am.png
 
BHP stole 430 mill in wages in today's news.

Funny isn't it, how these companies never accidentally overpay?

Of course it's not 'BHP' who commited the crime, it was certain individuals who will never face punishment because they are above the law. If a small business owner did this, there'd be huge consequences for individuals, (as there should be).
 
Gringotts Bank said:
BHP stole 430 mill in wages in today's news.

Funny isn't it, how these companies never accidentally overpay?

Of course it's not 'BHP' who commited the crime, it was certain individuals who will never face punishment because they are above the law. If a small business owner did this, there'd be huge consequences for individuals, (as there should be).
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The whole accounting dept and auditors need overhaul!! 430 mil in wages is no joke.
 
Rabbithop said:
The whole accounting dept and auditors need overhaul!! 430 mil in wages is no joke.
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Good evening Rabbito. A couple of decent "donations" to the party in power on the day and the ramifications or consequences of the "accidental" under-payments probably will be swept under the carpet.
Spoke to my son who has previously worked for BHP but his time there was before the start date mentioned.
 
farmerge said:
Good evening Rabbito. A couple of decent "donations" to the party in power on the day and the ramifications or consequences of the "accidental" under-payments probably will be swept under the carpet.
Spoke to my son who has previously worked for BHP but his time there was before the start date mentioned.
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Rabbito are you still looking at PLS. The SP plunge is not doing my "on paper" bottom line much.
 
farmerge said:
Rabbito are you still looking at PLS. The SP plunge is not doing my "on paper" bottom line much.
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Good evening farmer..yes still hoping to pick up a few of the others on my watchlist. Waiting for further drop..
PLS, LTR, DHI, BRN, DEG etc. Though WHC, WBC n BHP had surpassed what my low price...still prefers to wait for a few more days.
 
BHP released its operational review for the financial year ended 30 June 2023.

Production Achievements

During the financial year, BHP achieved its full-year production guidance for copper, iron ore, metallurgical coal, and energy coal. Nickel production met revised guidance, falling within the lower end of the original guidance. Some notable production records were set at key operations:
  1. Western Australia Iron Ore (WAIO) achieved a record production of 285 million metric tonnes (100% basis).
  2. Spence recorded a production of 240 thousand metric tonnes.
  3. Olympic Dam achieved annual production records for copper (212 thousand metric tonnes) and refined gold (186 troy thousand ounces).

Financial Performance

BHP faced various challenges in the financial year, including lower average realised prices for copper, iron ore, and metallurgical coal products compared to the previous year. Nickel prices remained stable, while thermal coal prices strengthened, particularly in the first half of the financial year. Inflationary pressures also impacted the company's business operations.

Portfolio Developments

BHP completed the acquisition of OZ Minerals Ltd on 2 May 2023, strengthening its portfolio in copper, nickel, and uranium. The company also made strategic investments and progressed exploration activities in copper and nickel prospects globally, including Kabanga in Tanzania, Oak Dam in Australia, Filo Mining in Argentina and Chile, and Ocelot in the United States, Serbia, and Peru.
 
divs4ever said:
my trader buddy is looking for sub $40 for BHP

maybe tomorrow ?
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Thanks @divs4ever imo it depends on Pooh Bear's hold on the Chinese economy, which is not as good as is portrayed in the media.

It is perhaps not as easy for ole Pooh to manage as the full economic and dark forces of America are singularly bearing down on China while MI6 is tasked on Russia.

Better a war run on spreadsheets and skulduggery rather than militarily.

Unfortunately BHP may be a collateral victim.

I see lower, much lower than your trading buddy, let us hope not $16 but lower than $30.

gg
 
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