Global Alumina

Der Buchwert des Projekts beträgt aktuell 800 Millionen Dollar. Welchen Wert pro Aktie ergibt das für Anteilseigner von Global Alumina?

Momentan hat Global Alumina 183 Millionen Aktien ausgegeben. Global Alumina hält einen Anteil von einem Drittel an Guinea Alumina; das ergibt ungefähr 1,45 Dollar pro Aktie. Wir gehen davon aus, weitere 100 Millionen Aktien auszugeben, um das zusätzliche Kapital aufzubringen und nach Abschluss des Aktienerwerbs von BHP Billiton einen Anteil von zwei Dritteln zu besitzen. Das würde etwa 1,88 Dollar pro Aktie ergeben.

$1,88 = 1,43 €

So, nehme ich jetzt die Marktkapitalisierung von 21,08 Mio. €  und nehme 100 Mio. Neuen Aktien + 183,33 Mio. bestehenden Aktien und dividire diese, so erhalte ich einen fairen Aktienwert von  0,074€.

Das würde ja heissen, daß die Aktie von Global Alumina um sage und schreibe 640 % unterbewertet ist !? Sehe ich das richtig oder hab ich einen Denkfehler.....?

https://commerce.us.reuters.com/purchase/showReportDetail.do?docid=35587827

http://www.reuters.com/article/2012/11/13/idUS236556+13-Nov-2012+PRN20121113

18.12.2012

Global aluminium makers switch to quarterly pricing in Asia

Reuters reported that Global producers of Aluminium ingots are turning away yearly premiums in favour of quarterly pricing for 2013 term shipments to Asia to take advantage of spot premiums that scaled records this year.

Traders said that Global producers required buyers in Asia to pay premiums or a surcharge to secure physical metal over the cash London Metal Exchange Aluminium price based on the quarterly main Japan ports premium. The move will make the MJP premium, seen as the Asian benchmark and which typically reflects spot premiums, more important than previous years.

Mr Nic Brown analyst of Natixis said that "The Aluminium market premiums have been pushed up so much they are now a significant part of the price that is unhedgeable. For both producers and consumers there is significant uncertainty over where premiums will go."

He said that "It doesn't surprise me at all that they would move to quarterly prices because you can be a lot more confident you are not going to get destroyed to the upside or the downside than if you set terms for a year."

Some Japanese buyers agreed a term premium of USD 240 per tonne with Rio Tinto Alcan for delivery in January to March 2013, down from a record benchmark USD 254 to USD 255 for the current quarter. The USD 240 premium is still more than double the USD 112 for January to March this year.

Traders said that international trading houses offered yearly premiums for 2013 shipments at about USD 230 per tonne to USD 250 per tonne for delivery to Hong Kong and mainland China.

Global producers in previous years offered yearly and half yearly premiums for term shipments to buyers in Asia. The yearly premiums were at around USD 98 to USD 110 to Hong Kong and mainland China this year and about USD 100 to USD 110 in 2011. But premiums in the spot market in Asia reached a record above USD 260 per tonne in the H2 of this year because of low availability of physical metal.

 

http://www.foundry-planet.com/index.php?id=110&tx_ttnews%5Byear%5D=2012&tx_ttnews%5Bmonth%5D=12&tx_ttnews%5Bday%5D=18&tx_ttnews%5Btt_news%5D=12590&cHash=f6598e9d480fa1170e616d8cf43acfcd

..in dem obigen Bericht schreiben die doch was von einer anstehenden KE #29 unten. und diese Indikatoren sprechen meiner meinung nach im Moment deutlich... http://www.barchart.com/opinions/stocks/GLA-U.TO interessant isses aber schon ..ich werde den Laden im Auge behalten wie immer :keine empfehlung zu nix