Research archive for AGL

Hot on the heels of the BHP Billiton (BIL) production report yesterday is the Anglo American (AGL) Q3 production report this morning. Excellent. And of course at the same time you get Kumba Iron ore (KIO) and Anglo Platinum (AMS) thrown at you too, because they all fall in the same stable. So let us look at the two majority owned entities first, KIO. Nice share code guys, but that sets you up for having to deliver knock out earnings every half.

So what about that Anglo American downgrade by UBS on Friday? Surely it is nothing new? The report suggests that there is "rising political risk" and points out that there has been "random application of mining laws". I guess that they are referring to the Sishen Iron Ore and Arcelor Mittal rights with the Imperial Crown Trading entity that appeared literally from nowhere. It is laughable and scary at the same time. In fact we are welcome holders of BHP Billiton in light of much of the recent events, I would agree that there is heightened political risk. Ironically this comes after the radical thoughts of the ANC Youth League were basically told, we will look at nationalisation, and that is about it.

Anglo American results this morning. The div is back, and no I am not talking about P Div. These results are for the half year to June 2010. And they are measured in Dollars, which made Byron mad. But I said to him, everything they sell is priced in Dollars, it makes sense to report in Dollars. Plus they are no longer a local company, or even a company with a primary listing in London, they are both operationally geographically spread and have shareholders from everywhere.