Australian (ASX) Stock Market Forum

MIN - Mineral Resources

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Chipp said:
MIN was on my list of potential buys here but i took FMG as my IO play and had a dabble in LTR for lithium exposure
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Similarly gone for a mix with IO.

2/3rds MIN and 1/3rd RHI.

The plan/hope is that RHI pays a good divie whilst MIN first digests their large cap spend, and then increases divie.
 
Minres in the news for all the wrong reasons.
The Evil Murdoch Press obviously has it in for Chris Eellison and his group.
Firstly, it was suggested they were in somewhat dire need of cash.
1724893770895.png

Then it was a piece on the sham women friendly atmosphere at MINRES

Billionaire mining buffoon Chris Ellison, of Mineral Resources, has been beating his chest for years about enticing more women to work at the company – even as his most senior female hires have staged a run for the exits.
In May, Ellison stood before a Macquarie conference and said with a straight face that he was creating a “safer work environment” for women – apparently by building a daycare centre.

In Ellison’s mind this was a stroke of genius, and so too was paying Julie Bishop a pile of money to sashay through the company’s Walters Drive headquarters.

That was for a glossy induction video to showcase what MinRes officials described as the “health and wellbeing of our people”. In reality, they couldn’t give a damn.

This after having already called out MINRES for causing its female execs to run for the exits.

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Now today is the announcement they the have dumped their dividend program, something that never goes over well with the SFR.
from Evil Murdoch Press
1724893615104.png

Then the AFR among others reported on a touch of nepotism in the Minres ranks.
The daughter of Mineral Resources chief executive Chris Ellison has earned millions of dollars in undisclosed fees after her company was given preferential treatment to help ship the group’s iron ore exports, according to governance advisory group Ownership Matters.

An analysis of port records shows that Ship Agency Services, founded by Kristy-Lee Craker in 2011, has made as much as $10 million through hundreds of ships that have loaded Mineral Resources iron ore since SAS was set up in 2011.
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Even allowing for a bit of press hyperbole, there appears to be some problems at MINRES.
Think I might stay on the sidelines a while.
Mick
 
mullokintyre said:
Minres in the news for all the wrong reasons.
The Evil Murdoch Press obviously has it in for Chris Eellison and his group.
Firstly, it was suggested they were in somewhat dire need of cash.
View attachment 183354
Then it was a piece on the sham women friendly atmosphere at MINRES

Billionaire mining buffoon Chris Ellison, of Mineral Resources, has been beating his chest for years about enticing more women to work at the company – even as his most senior female hires have staged a run for the exits.
In May, Ellison stood before a Macquarie conference and said with a straight face that he was creating a “safer work environment” for women – apparently by building a daycare centre.

In Ellison’s mind this was a stroke of genius, and so too was paying Julie Bishop a pile of money to sashay through the company’s Walters Drive headquarters.

That was for a glossy induction video to showcase what MinRes officials described as the “health and wellbeing of our people”. In reality, they couldn’t give a damn.

This after having already called out MINRES for causing its female execs to run for the exits.

View attachment 183355


Now today is the announcement they the have dumped their dividend program, something that never goes over well with the SFR.
from Evil Murdoch Press
View attachment 183353
Then the AFR among others reported on a touch of nepotism in the Minres ranks.

Even allowing for a bit of press hyperbole, there appears to be some problems at MINRES.
Think I might stay on the sidelines a while.
Mick
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@mullokintyre - a very brave person to publish factual extracts from few sources knowing well that the multi billionaire who rose from a humble trade background (reportedly from Kalgoorlie mates) to the current status, cares for nothing and boast to buy everything.
I however give kudos to this gentleman for his arrogant and confident behaviour and bought MIN at $2 to be sold out at $4, thinking it was enough to rise. I was wrong.
I was also wrong to make a decision not to join once he was in the interview panel at CSI to speak with a high arrogance and smoking a cigar (?) in the interview room meant as a NO SMOKING.
I have seen how control he still exercises when no one can change the T & C of a contract without his endorsement.
End of the day, even if I am neither a shareholder nor an employee/contract to MinRes, I will believe it is not my business to criticise considering MinRes under his leadership has been rewarding with laurels for his investors, employees through handsome bonuses, making the workforce to be highly productive , enriching the tax department with high taxes and generating wealth for the nation. With doing cost of ethics and benefits of $$$
I forgot to attach this - the debt has gone up by 2.34 times . 1000 people lost job only back in June 24. Yiligarn hub cancelled due to low profitability. etc etc. red flags to be assessed by any investor.
But with liquid cash, who knows MIN may acquire something lucrative opportunities
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mullokintyre said:
Minres in the news for all the wrong reasons.
The Evil Murdoch Press obviously has it in for Chris Eellison and his group.
Firstly, it was suggested they were in somewhat dire need of cash.
View attachment 183354
Then it was a piece on the sham women friendly atmosphere at MINRES

Billionaire mining buffoon Chris Ellison, of Mineral Resources, has been beating his chest for years about enticing more women to work at the company – even as his most senior female hires have staged a run for the exits.
In May, Ellison stood before a Macquarie conference and said with a straight face that he was creating a “safer work environment” for women – apparently by building a daycare centre.

In Ellison’s mind this was a stroke of genius, and so too was paying Julie Bishop a pile of money to sashay through the company’s Walters Drive headquarters.

That was for a glossy induction video to showcase what MinRes officials described as the “health and wellbeing of our people”. In reality, they couldn’t give a damn.

This after having already called out MINRES for causing its female execs to run for the exits.

View attachment 183355


Now today is the announcement they the have dumped their dividend program, something that never goes over well with the SFR.
from Evil Murdoch Press
View attachment 183353
Then the AFR among others reported on a touch of nepotism in the Minres ranks.

Even allowing for a bit of press hyperbole, there appears to be some problems at MINRES.
Think I might stay on the sidelines a while.
Mick
Click to expand...
the problem is .. it is still making money when other lithium producers are staggering around looking for sales , or production

now i can't speak about nepotism on what is left of Fairfax , but at NWS there are plenty of historical examples

but wake me up around $14 , that is where i bought in originally

maybe i would add more around $13.50

there are plenty of problems coming to mining

more regulations , higher costs , hard to find good staff , slowing sales

BTW it's a bit hard to load a truck/train while sitting at home ( not like fabricating click-bait for a media group )
 
It appears the media this time is exposing two billionaires - Twiggy and Chris.
Twiggy is already being exposed with extra favour to his past CEO and getting rid of senior executives one after other and a bit of anti female direction .
The recent publication on AFR on Min MD is very interesting.
https://www.afr.com/rear-window/mus...lison-seeks-new-chopper-pilot-20240829-p5k6ea

The massive job cuts will bite the government and no matter how many billions they are contributing to the nation through taxes, could complete the circle .
DNH FMG or MIN. Not working with any of them as an employee, service provider or consultant
 
Miner said:
It appears the media this time is exposing two billionaires - Twiggy and Chris.
Twiggy is already being exposed with extra favour to his past CEO and getting rid of senior executives one after other and a bit of anti female direction .
The recent publication on AFR on Min MD is very interesting.
https://www.afr.com/rear-window/mus...lison-seeks-new-chopper-pilot-20240829-p5k6ea

The massive job cuts will bite the government and no matter how many billions they are contributing to the nation through taxes, could complete the circle .
DNH FMG or MIN. Not working with any of them as an employee, service provider or consultant
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and given certain high level decisions .. the government deserves to be bitten

maybe they need to pull on the work-boots and EARN a week's wages
 
Miner said:
Twiggy is already being exposed with extra favour to his past CEO and getting rid of senior executives one after other and a bit of anti female direction .
Click to expand...
Anti female? Didn't Twiggy at one point appoint Elizabeth Gaines as CEO of Fortescue and kept her in that position for a number of years?

And just because companies don't buy into woke insufferable nonsense like gender quotas it doesn't mean they are anti female. Mining is a male dominated industry. Most of the pool of talent available to companies is male therefore they will have a lopsided ratio of males in their workforce and yes that includes the senior ranks.

Can you actually point out something tangible either Twiggy or Chris did that are anti-female?

Wokeness is a ******* cancer.
 
$5Bil debt on a $10B market cap . Whilst i am sure there will be some short term swing trades on this , as a buy and hold i would definitely find the terms of all this debt , interest and expiry . Given negative earnings forecast for '25 rolling over near time expiry debt in current rates not likely to be tiptop conditions . IO and lithium still in toilet not helping the ' risk '

Edit ok found some of it and nothing needs to roll short term but these rates are not great
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Value Hunter said:
Anti female? Didn't Twiggy at one point appoint Elizabeth Gaines as CEO of Fortescue and kept her in that position for a number of years?

And just because companies don't buy into woke insufferable nonsense like gender quotas it doesn't mean they are anti female. Mining is a male dominated industry. Most of the pool of talent available to companies is male therefore they will have a lopsided ratio of males in their workforce and yes that includes the senior ranks.

Can you actually point out something tangible either Twiggy or Chris did that are anti-female?

Wokeness is a ******* cancer.
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I agree DEI is a curse , you need the best people for each individual job regardless of sexuality / pronoun / ethnicity etc etc . Talent and skill the number one metrics for any job imo
 
Value Hunter said:
Anti female? Didn't Twiggy at one point appoint Elizabeth Gaines as CEO of Fortescue and kept her in that position for a number of years?

And just because companies don't buy into woke insufferable nonsense like gender quotas it doesn't mean they are anti female. Mining is a male dominated industry. Most of the pool of talent available to companies is male therefore they will have a lopsided ratio of males in their workforce and yes that includes the senior ranks.

Can you actually point out something tangible either Twiggy or Chris did that are anti-female?

Wokeness is a ******* cancer.
Click to expand...
Why Eli left to be returned again with increasing attention and Fiona Hicks left.
Regarding details media is talking and I am not against of any one of the big two as you would find my postings earlier.
So have a nice weekend @Value Hunter
 
divs4ever said:
the problem is .. it is still making money when other lithium producers are staggering around looking for sales , or production

now i can't speak about nepotism on what is left of Fairfax , but at NWS there are plenty of historical examples

but wake me up around $14 , that is where i bought in originally

maybe i would add more around $13.50

there are plenty of problems coming to mining

more regulations , higher costs , hard to find good staff , slowing sales

BTW it's a bit hard to load a truck/train while sitting at home ( not like fabricating click-bait for a media group )
Click to expand...
It sounds to me like scapegoat herding is happening, as the Govt and media get ready to lay the blame for the upcomming minerals led recession. Lol
Nickel, Lithium, emission reduction penalties, iron ore, coal, high immigration, high energy costs.
The ducks are lining up IMO.
 
sptrawler said:
It sounds to me like scapegoat herding is happening, as the Govt and media get ready to lay the blame for the upcomming minerals led recession. Lol
Nickel, Lithium, emission reduction penalties, iron ore, coal, high immigration, high energy costs.
The ducks are lining up IMO.
Click to expand...
well a lot of well-established nations seem to have shrinking economies and unless Africa starts building manufacturing centres ... demand looks like it will wane ( apart from a few commodities )

Australia loves regulatory hurdles and taxes , so who is going to dig for a loss ( if you can get approval to dig at all )

recession?

since they have already altered the meaning .. it is probably an impending depression ( or worse )
 
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