The Australian states have become so woke and punitive to coal companies that now S32 is also selling Australian assets. Selling Illawarra met coal project for the equivalent of 1 year's revenue. Meanwhile still has mines in South Africa which is returning to the dark ages - that should work out.
I'm becoming unhinged.
Held
Not buying
View attachment 171810
going to be hard to stand out from the crowd , if you doI'm becoming unhinged
i didn't .. i removed it from my watch-list1 x earnings and the market liked it. Unbelievable.
have held BSL in the past for a very nice ride ( and special thanks to BSL management for that )BlueScope considers tilt at South32 mines to pre-empt $2.5b sale
BlueScope is mulling whether to match the $US1.65 billion ($2.54 billion) Indonesian bid for the Illawarra coal mines that feed the Port Kembla steel mill, raising the prospect of reuniting assets that were separated by BHP’s 2002 steel demerger.
Held
as far as i understand it , yesBSL has first preemptive option to buy the Illawarra mines because of Bluescope's past as a BHP spin-off (as was SW2 obviously) Bluescope needs the met coal for its steel manufacture. Think I got that right.
Good photo, what a mess.Reason 101 why i never invest in resource companies, they are run by morons. Leaving the ship on the shiploader wharf was absolute stupidity. I saw photos from a mate this morning, 2 holes in the ship, punched by the shiploader. Ship loader destroyed, 2 dolphins destroyed, probably 6 months before they repair it.
There was heaps of time to get the ship off the wharf, while it was clear the Low would miss Groote, the wharf is totally exposed to the NW which was always going to be the main wind direction once it developed into a cyclone. We had over 50k gusts in Gove harbour which is 100 miles further away! Even Rio had enough sense to clear the wharf here once the forecasts showed 25k plus winds.View attachment 173008
I own S32, I had hoped that being sold away from bhp, it would have list its origin traits. Seems notGood photo, what a mess.
Morons indeed.
Yep moving out to deep water and riding it out would have seemed the way to go.Reason 101 why i never invest in resource companies, they are run by morons. Leaving the ship on the shiploader wharf was absolute stupidity. I saw photos from a mate this morning, 2 holes in the ship, punched by the shiploader. Ship loader destroyed, 2 dolphins destroyed, probably 6 months before they repair it.
There was heaps of time to get the ship off the wharf, while it was clear the Low would miss Groote, the wharf is totally exposed to the NW which was always going to be the main wind direction once it developed into a cyclone. We had over 50k gusts in Gove harbour which is 100 miles further away! Even Rio had enough sense to clear the wharf here once the forecasts showed 25k plus winds.View attachment 173008
Well that worked for my MCR, thank god.It'll buff out!
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