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09-07-2020, 02:15 PM
#371
Originally Posted by Beagle
I am expecting broker downgrades right across the sector and have been expecting this announcement for some time. One wonders whether many (any ?), in this sector can maintain their dividends ?
Agree. Morningside's fair value estimation of 6.60/share has always been based on their belief that the smelter will continue to operate
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09-07-2020, 02:15 PM
#372
Lol - smelter management now saying there is a chance they remain open “if they get the right electricity price”
https://www.interest.co.nz/business/...its-doors-open
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09-07-2020, 02:45 PM
#373
Will they really close. Have you gone to mico wakefield and tried to buy some extruded aluminium. Need a wheelbarrow full of money. Must be a profitable industry.
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09-07-2020, 02:47 PM
#374
Member
If i was selling electricity I wouldnt undercut the market, just let the water go over the spill way and wait untill demand/population increases.
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09-07-2020, 02:49 PM
#375
Originally Posted by winner69
Majestical quote from another thread -
Yesterday is history, tomorrow is a mystery, but today is a gift. That is why it is called present
Nice quote there Winner, thanks for posting. Its refreshing to get away from the negative rants and endless barking on another thread.
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09-07-2020, 02:52 PM
#376
Originally Posted by Carpenterjoe
If i was selling electricity I wouldnt undercut the market, just let the water go over the spill way and wait untill demand/population increases.
Exactly, in this case down the Clutha, nice trade thou.
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09-07-2020, 02:58 PM
#377
"NZAS has estimated it would cost about $256m to meet its obligations to clean up the site after decommissioning the smelter.
Woods said the Government expected Rio Tinto would meet its obligations for clean-up of the site and do the right thing on the dross."
"expected" .I am very doubtful RIO will honour the remediation. Is there no funds locked in to cover this as in many mining companies have to do for remediation when mining is finished. They renneged on the dross disposal, they will get away with minimal remediation too imo.
Tiwai Point to close, 1000 jobs to go
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09-07-2020, 02:58 PM
#378
Originally Posted by bottomfeeder
Will they really close. Have you gone to mico wakefield and tried to buy some extruded aluminium. Need a wheelbarrow full of money. Must be a profitable industry.
The price of an item does not necessarily mean it is a profitable product. Not questioning your skills at all, but I think it might require a slightly deeper analysis.
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09-07-2020, 03:03 PM
#379
Originally Posted by Joshuatree
"NZAS has estimated it would cost about $256m to meet its obligations to clean up the site after decommissioning the smelter.
Woods said the Government expected Rio Tinto would meet its obligations for clean-up of the site and do the right thing on the dross."
"expected" .I am very doubtful RIO will honour the remediation. Is there no funds locked in to cover this as in many mining companies have to do for remediation when mining is finished. They renneged on the dross disposal, they will get away with minimal remediation too imo.
Tiwai Point to close, 1000 jobs to go
I don't think the mining companies have to have funds on the books either for remediation. Its just listed as a liability but sometimes funds not there to cover for it. It is an important issue that future govts will have to grapple with and possibly change laws to make sure money is tied up for such an occurrence.
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09-07-2020, 04:24 PM
#380
Originally Posted by fungus pudding
The price of an item does not necessarily mean it is a profitable product. Not questioning your skills at all, but I think it might require a slightly deeper analysis.
Maybe sometimes deep analysis can be too confusing. I remember working for a landlord whose tenant (pet food manufacturer) moaning about high rent when they werent profitable. Delving into their accounts, they were buying ingredients from associated companies at some standard costing, thats where their profit went. Completed aluminium products arent cheap. Maybe their raw materials purchased from Mummy and Daddy are way overpriced. Tiwai never meant to make a profit. I have heard Tiwai moaning about their loss making business since they first started. Seems to get their power cheaper though. More you moan the more you get.
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