S32 - South32 Limited

[frugal.rock]

Have we confused ourselves with the decimal points? (I'm in Commsec)

No, we haven't.
The horses mouth (ASX). comsuc is the other end..

 

[eskys]

Historical​

As of 16 Feb 2023, 11:00 am AEDT Most Recent Dividend Information

Most Recent	Dividend Yield	Tax Adj Div Yield	Franking	Ex-Div Date	Pay Date
$0.723	6.00%	4.7%	100%	09/03/2023	06/04/2023

I think this is missing a zero.Should read $0.0723

 

[Sean K]

Off 8%, maybe due to bullet points 3, 6, 9, 10 and 13.

5 out of 13 negative dot points.

Maybe they could have made up a couple more positives to smooth it over a bit.

Pushing the bottom of this curling triangle.

 

[Dona Ferentes]

As South32 looks to grow its portfolio, the company seems to have identified a copper mine that could be an M&A fit.

According to The Australian Financial Review, South32 has sounded out a potential acquisition of Khoemacau Copper Mining which operates its namesake copper mine in Botswana.

Khoemacau ramped up to full production in February – achieving 3.65 million tonnes per annum (Mtpa) of throughput – and has a nameplate production capacity of 60,000 tonnes per annum of copper, with silver as an added-value product.

Khoemacau has an estimated mine life of 20 years, producing copper at C1 cash costs of $US1.15 per pound. Mining is currently taking place from Zone 5 – an underground mine where three corridors are producing an average of 1.2Mtpa of ore each.

It is understood South32 has engaged RBC Capital Markets as it prepares an indicative bid for Khoemacau Copper Mining, while the AFR also believes the company could come up against opposition, including from Sandfire Resources.

Khoemacau could be seen to complement Sandfire’s Motheo copper mine, which produced first copper concentrate in late May.

South32 chief executive officer Graham Kerr recently suggested copper, zinc and nickel were the three commodities driving the company’s M&A strategy.

 

[divs4ever]

hmmm , trying to make me feel guilty at not throwing in a small order ( for extra ) yesterday

will reconsider that later ( after open )

 

[finicky]

Shocking Hermosa Project US$1.3 Billion impairment impairment.
Cites project slowed due to 2020-21 covid restrictions.
Massive dewatering bill for Taylor deposit.
Inflation of cost inputs.

Before this I would have said the chart looks like it is more likely than not setting up for an eventual breakout.
Held

 

[Sean K]

Shocking Hermosa Project US$1.3 Billion impairment impairment.
Cites project slowed due to 2020-21 covid restrictions.
Massive dewatering bill for Taylor deposit.
Inflation of cost inputs.

Yikes! They've hidden that pretty deep in the ann too. Probably should have been announced earlier for continuous disclosure you'd reckon.

 

[DrBourse]

Hmmmmm....
My take on S32 is that there have been Negative TA Signals since 17/7/23.

Dunno, guess its just horses for courses, my horse is going in a different direction, IMO punters should have bailed on 17/7/23 as soon as this ST Trend began, I cannot see any reversal signals yet, looks as though "some" knew abt hermosa last week....

 

[divs4ever]

hmmm , trying to make me feel guilty at not throwing in a small order ( for extra ) yesterday

will reconsider that later ( after open )

threw in an order today

maybe it will be too low , but you can only try

 

[DrBourse]

threw in an order today

maybe it will be too low , but you can only try

A drop to $3.56 would produce a Double Bottom (pages 20, 82, 96, 97 & 109), as well as a Bearish Equal & Opposite (page 28)......
OR.......
to $3.40 would also produce another Double Bottom......
I still cannot see any obvious reversal signals, dunno where the ST Bottom will be at this stage.....
B careful M8.

 

[divs4ever]

A drop to $3.56 would produce a Double Bottom (pages 20, 82, 96, 97 & 109), as well as a Bearish Equal & Opposite (page 28)......
OR.......
to $3.40 would also produce another Double Bottom......
I still cannot see any obvious reversal signals, dunno where the ST Bottom will be at this stage.....
B careful M8.

was looking for a handful ( NOT a truckful ) around $3.68 will be happy if i can get them cheaper

but yes the mining super-cycle does look to be waning

cheers

 

[finicky]

Don't feel it's likely that this support level will hold, what with S32 going ex div in a week (Sept 14)
You could speculate that price is not far off the bottom support of a down channel I guess but don't think it'd be enough
Trading not all that far off book value now (BV = 3.11)
The massive Hermosa impairment must have rocked the confidence of many in the management.

Held

DAILY

 

[Sean K]

Don't feel it's likely that this support level will hold, what with S32 going ex div in a week (Sept 14)
You could speculate that price is not far off the bottom support of a down channel I guess but don't think it'd be enough
Trading not all that far off book value now (BV = 3.11)
The massive Hermosa impairment must have rocked the confidence of many in the management.

Held

DAILY
View attachment 162131

If not, next stop $3 perhaps... I've been waiting to buy some more of this on a significant downturn. Might already be there or at least close.

 

[So_Cynical]

With the miners we have to consider the inflation flow thru factor, all the inputs have gone up thus the commodity/s mined will be repriced upwards to reflect that.

 

[divs4ever]

Don't feel it's likely that this support level will hold, what with S32 going ex div in a week (Sept 14)
You could speculate that price is not far off the bottom support of a down channel I guess but don't think it'd be enough
Trading not all that far off book value now (BV = 3.11)
The massive Hermosa impairment must have rocked the confidence of many in the management.

Held

DAILY
View attachment 162131

thanks

fair warning

i will do some research to see IF i want to add extra S32 in the near future ( and at what price )

i hold S32 partially courtesy of the BHP demerger

 

[divs4ever]

a brief glance has me at sub $2.70 ( bought the last lot @ $2.63 in 2019 )

 

[finicky]

S32 @ 3.245
Down just 1.5c at luncheon.
Holding up surprisingly well given ex div today of 5c.

Held

 

[divs4ever]

AusQuest and South32 Extend Strategic Alliance South32 to fund exploration activities for AusQuest projects for a further two years

Key Points:
• AusQuest and South32 have extended the Strategic Alliance Agreement (SAA) for a further two years to December 2025.
• SAA to remain focused on developing high-potential exploration opportunities in Australia targeting copper, lead, zinc and nickel.
• Other commodities including lithium and rare earths may be included in the Strategic Alliance.
• Exploration Opportunities offered by AusQuest and accepted by South32 will continue to be advanced to the drill-ready stage through exploration funding provided by South32.
• AusQuest will continue to manage the initial programs in consultation with South32 to advance each project to drill-ready status as quickly as possible.
• Once projects become Drill-Ready Opportunities, South32 can elect to earn a 70% interest for a total expenditure of US$4.5M on each project.
• Four Australian projects are currently Exploration Opportunities under the SAA with further drilling at each being planned over the next 12 to 18 months.
• AusQuest is incentivised via a US$300,000 Bonus Generation Fee if at least two new Exploration Opportunities are accepted by South32 in a calendar year.
• Under the terms of the SAA, AusQuest receives an administration fee equal to 15% of expenditure on all projects under the SAA.

AusQuest Limited (ASX: AQD; AusQuest or the Company) is pleased to announce that it has agreed with South32 Limited (South32) to extend the existing Strategic Alliance Agreement (SAA) for a further two years to 31st December 2025, subject to further extension.
The SAA was originally established in February 2017.
The SAA established an innovative framework under which AusQuest could use its extensive expertise to target new deposits and mineral provinces with major ore potential, to generate and secure prospective early-stage exploration opportunities which are offered exclusively to South32.
The two companies have developed a strong working relationship over the past seven years and will continue to work together to develop a pipeline of high-potential exploration opportunities focussed in Australia.
2 Targeted commodities in Australia include copper, lead, zinc and nickel with potential for associated gold, and silver credits.
Other commodities including lithium and rare earths may also be considered in the SAA.
Under the SAA, projects secured by AusQuest and offered exclusively to and accepted by South32, undergo a staged evaluation process which sees projects classified as either Exploration Opportunities or Drill-Ready Opportunities.
If a project is rejected twice by South32, at either the Exploration or Drill-Ready Opportunity stage, it becomes a rejected property and will no longer be the subject of the SAA.
For Exploration Opportunities, work programs and budgets to advance each project to a drill-ready stage are agreed by the parties with South32 providing the necessary funds to complete the programs.
All funding to advance projects to a drill-ready stage form part of the total earn-in expenditure of US$4.5M for South32 to acquire a 70% interest in each project.
Once a project is accepted by South32 as a Drill-Ready Opportunity, South32 can elect to earn a 70% interest in the project. AusQuest must prepare a drill program and budget of at least US$500,000 in value and following agreement on the program, a joint venture may be established, and a Joint Venture Agreement entered into on the key terms and conditions set out in the SAA.
A summary of the key joint venture terms and conditions is appended at the end of this announcement.
AusQuest will continue to be the initial operator for each joint venture.
Under the agreed joint venture terms, South32 must contribute a total US$4.5M to earn a 70% joint venture interest and can earn an 80% interest in each project by completing a pre-feasibility study.
The SAA also includes an arrangement to incentivise AusQuest’s project generation activities, with South32 agreeing to pay AusQuest a US$300,000 Bonus Generation Fee if at least two Exploration Opportunities are accepted by South32 in a calendar year.
AusQuest also receive an administration fee equal to 15% of expenditure on all projects under the SAA to help cover company overhead expenses and assist with the ongoing requirements for project generation studies.
Commenting on the extension of the Strategic Alliance Agreement, AusQuest’s Managing Director, Mr Graeme Drew, said: “This is a great outcome for our shareholders with South32 continuing to back the AusQuest team for a further two years under the Strategic Alliance, which has functioned extremely well since its inception in February 2017.
The agreement is structured to enable AusQuest to keep identifying opportunities as well as rewarding the Company for success along the way.
The extension of the SAA is a strong endorsement of AusQuest’s credentials and technical skills, and is a vindication of the quality and scale of the projects we have been able to consistently bring to the table over the past seven years.
We continue to be excited about the future and look forward to continuing to work closely with South32 to build a quality pipeline of exploration opportunities which we hope will deliver significant benefits for both companies, and in particular, to reward our shareholders for their patience and ongoing support" .3

Graeme Drew
Managing Director

i hold S32

hmmm probably not exciting enough to entice me to buy extra S32 , might be exciting for AusQuest investors/traders

 

[Sean K]

AusQuest and South32 Extend Strategic Alliance South32 to fund exploration activities for AusQuest projects for a further two years

Key Points:
• AusQuest and South32 have extended the Strategic Alliance Agreement (SAA) for a further two years to December 2025.
• SAA to remain focused on developing high-potential exploration opportunities in Australia targeting copper, lead, zinc and nickel.
• Other commodities including lithium and rare earths may be included in the Strategic Alliance.
• Exploration Opportunities offered by AusQuest and accepted by South32 will continue to be advanced to the drill-ready stage through exploration funding provided by South32.
• AusQuest will continue to manage the initial programs in consultation with South32 to advance each project to drill-ready status as quickly as possible.
• Once projects become Drill-Ready Opportunities, South32 can elect to earn a 70% interest for a total expenditure of US$4.5M on each project.
• Four Australian projects are currently Exploration Opportunities under the SAA with further drilling at each being planned over the next 12 to 18 months.
• AusQuest is incentivised via a US$300,000 Bonus Generation Fee if at least two new Exploration Opportunities are accepted by South32 in a calendar year.
• Under the terms of the SAA, AusQuest receives an administration fee equal to 15% of expenditure on all projects under the SAA.

AusQuest Limited (ASX: AQD; AusQuest or the Company) is pleased to announce that it has agreed with South32 Limited (South32) to extend the existing Strategic Alliance Agreement (SAA) for a further two years to 31st December 2025, subject to further extension.
The SAA was originally established in February 2017.
The SAA established an innovative framework under which AusQuest could use its extensive expertise to target new deposits and mineral provinces with major ore potential, to generate and secure prospective early-stage exploration opportunities which are offered exclusively to South32.
The two companies have developed a strong working relationship over the past seven years and will continue to work together to develop a pipeline of high-potential exploration opportunities focussed in Australia.
2 Targeted commodities in Australia include copper, lead, zinc and nickel with potential for associated gold, and silver credits.
Other commodities including lithium and rare earths may also be considered in the SAA.
Under the SAA, projects secured by AusQuest and offered exclusively to and accepted by South32, undergo a staged evaluation process which sees projects classified as either Exploration Opportunities or Drill-Ready Opportunities.
If a project is rejected twice by South32, at either the Exploration or Drill-Ready Opportunity stage, it becomes a rejected property and will no longer be the subject of the SAA.
For Exploration Opportunities, work programs and budgets to advance each project to a drill-ready stage are agreed by the parties with South32 providing the necessary funds to complete the programs.
All funding to advance projects to a drill-ready stage form part of the total earn-in expenditure of US$4.5M for South32 to acquire a 70% interest in each project.
Once a project is accepted by South32 as a Drill-Ready Opportunity, South32 can elect to earn a 70% interest in the project. AusQuest must prepare a drill program and budget of at least US$500,000 in value and following agreement on the program, a joint venture may be established, and a Joint Venture Agreement entered into on the key terms and conditions set out in the SAA.
A summary of the key joint venture terms and conditions is appended at the end of this announcement.
AusQuest will continue to be the initial operator for each joint venture.
Under the agreed joint venture terms, South32 must contribute a total US$4.5M to earn a 70% joint venture interest and can earn an 80% interest in each project by completing a pre-feasibility study.
The SAA also includes an arrangement to incentivise AusQuest’s project generation activities, with South32 agreeing to pay AusQuest a US$300,000 Bonus Generation Fee if at least two Exploration Opportunities are accepted by South32 in a calendar year.
AusQuest also receive an administration fee equal to 15% of expenditure on all projects under the SAA to help cover company overhead expenses and assist with the ongoing requirements for project generation studies.
Commenting on the extension of the Strategic Alliance Agreement, AusQuest’s Managing Director, Mr Graeme Drew, said: “This is a great outcome for our shareholders with South32 continuing to back the AusQuest team for a further two years under the Strategic Alliance, which has functioned extremely well since its inception in February 2017.
The agreement is structured to enable AusQuest to keep identifying opportunities as well as rewarding the Company for success along the way.
The extension of the SAA is a strong endorsement of AusQuest’s credentials and technical skills, and is a vindication of the quality and scale of the projects we have been able to consistently bring to the table over the past seven years.
We continue to be excited about the future and look forward to continuing to work closely with South32 to build a quality pipeline of exploration opportunities which we hope will deliver significant benefits for both companies, and in particular, to reward our shareholders for their patience and ongoing support" .3

Graeme Drew
Managing Director

i hold S32

hmmm probably not exciting enough to entice me to buy extra S32 , might be exciting for AusQuest investors/traders

Interesting arrangement. South are practically outsourcing their exploration to AQD in Australia. Why don't they just buy them and include them under their global exploration team...Maybe this is much more cost efficient.

SP close to $3, down from $5.40 in early 22. Has been an ugly two years.

 

[divs4ever]

Interesting arrangement. South are practically outsourcing their exploration to AQD in Australia. Why don't they just buy them and include them under their global exploration team...Maybe this is much more cost efficient.

SP close to $3, down from $5.40 in early 22. Has been an ugly two years.

well they seemed to have so much potential after being unleashed from BHP ( where i got a nice bundle from )

seems management is still in 'BHP mode' if they wanted nickel PAN ( i hold ) is sitting there in the dustbin , i would be happy to take an all-scrip deal

very much the same strategy that OZL had without the aggressive mine upgrade strategy

will be interesting to see if S32 starts making 'strategic divestments '