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Archive for: September
12 Sep 2013

Welcome to our new website

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The committee and our web designers (Tribus Creative) have been working hard to bring you a new website which I hope you will all enjoy.

Our goal was to make the site more member-orientated and take advantage of the new ways in which we can communicate with you.

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It's been a few months since our gold debate and given the relative volatility in the gold price we are wondering, who was right, the bulls or the bears? On the night the audience emphatically supported the bulls team but would their vote be different if cast again today? Any comments?

Perhaps to try and counteract their perceived operating opacity, Glencore held an Investor's Day on 10th September. The discussion revolved around how the company has changed following the merger between Glencore and Xstrata. Ivan Glasenberg gave an interesting overview of how he sees the world following a softening of commodity prices across the board. Lack of developer discipline has led to value destruction and overcapacity. Glencore Xstrata's focus going forward will be on operating profitability rather than market share maximisation.

The video and accompanying slides are well worth viewing.