BHP up 5% today and now over $48, a new record high, after being in the low 30s earlier this year.
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BHP up 5% today and now over $48, a new record high, after being in the low 30s earlier this year.
That was back in October last year - had a few ups and downs since but today showed that $50 is not just possible but achievable ..... so $60 is definitely on the cards ....... so $80-$100 should be the next target .... sometime in the next year I believe
Nothing has really changed in the fundamnetals recently .... the story is just as compelling ........ believe in the story and keep hold of BHP
Wow, nothing for over two years... this seems to be the newest BHP thread on ST...
Anyway, just wondering if anyone has a better explanation for why BHP is down 3.5% today than the news that a (previously unknown) takeover offer that they'd made for a potash company has been rejected? Presumably there is something more to this...?
saw this -might explain itSYDNEY Aug 17 (Reuters) - Australian Prime Minister Julia Gillard plans to bring in a 30 percent tax on profits at larger iron ore and coal mining firms from 2012 if she wins Saturday's election. Her opponent, Tony Abbott, has pledged to dump the tax. With the poll on a knife-edge, the mining sector faces huge uncertainty. Even if Gillard wins the Greens could end up as kingmakers in the senate and push for a stronger tax.
but could also be some aspect of disppointment for the offer being rejected. a reduction of growth possibilities or knowing that they'll have to pay more to acquire.
The independents are voting with BHP, RIO and AUD not liking what they're hearing.
Currently going on CNBC at the moment.
Labours got it UU Mining Tax here it comes
The watered down mining tax is supposed to be limited to Coal and Iron Ore (there is a seperate tax for some of the O&G developments).
But I read somewhere today that there is a supposedly an $8b black hole in the revenue estimates from the tax, so maybe, now Labor are back in, it might find its way to other ore types mined here.
I'm 99% invested in Pappilon Resources right now, so their west African focus should shield them nicely from any changes to the mining tax.
PS. Come July 2011, the Greens will be in control of the Senate, and those loonies want an even higher mining tax than Labor (as well as being anti-coal mining and even anti-CSG!!)
Am I dreaming or are they on a forward PE (based on the 31 December half year) of 7-8? This can't be right...can it?