Wed, Jul 30, 2014, 1:06 AM EDT - U.S. Markets open in 8 hrs 24 mins

Recent

% | $
Click the to save as a favorite.

Southern Copper Corp. Message Board

  • dar200 dar200 Sep 23, 2013 3:21 PM Flag

    Hey, north woods dreamer

    Here's your dividend increase from just filed 8-K:

    On September 20, 2013, Mr. Oscar Gonzalez Rocha, the President and Chief Executive Officer of Southern Copper Corporation ("SCC") announced in the course of the XXXI Mining Convention in Arequipa, Peru, that SCC was planning to spend $7.1 billion in mining projects in Mexico and Peru by 2016.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Hmmm ..... as you recall I also speculated that there could to be an increased need for cash.... ergo the proposed (delayed) AMC IPO.

      Now ... how do you think they will raise the cash for their capex? Low dividents ...... sure. Capital markets ..... sure .... but in a higher interest rate environment. How high we do not yet know and that's very important. Profits .... sure.

      How else ..... go ahead ..... please speculate.

      I won't jump down your throat or elaborate on how you thought to use a pencil stub and a short piece of string to determine a critical dimension .... although I will forever admire the genius of your solution.

      By the way, fresh off the USW website for ASARCO contract talks ..... ASARCO hasn't budged on removing the "successorship" clause in the current (expired) contract and the USW appears to be REALLY MAD about this and is talking like it's a deal-breaker. If ASARCO does not cave on this issue it will provide a strong tell to what's on AMC/GRUPO's mind IMO. From everything I've seen, I get the impression that the USW has a VERY STRONG dislike for their current owners and is probably the most militant union under the GRUPO/AMC/SCCO umbrella.

      All this will take time to play-out ..... IMHO 2 to 3 years which just happens to be the same time frame that SCCO/AMC/ GRUPO needs cash for their capex.

      To me, there's a lot more behind the proposed (delayed) IPO than AMC wanting to establish a value for ASCARO and then merging SCCO and ASARCO under the AMC banner. I think that GRUPO/AMC/SCCO is getting all their ducks in-line to leave several options open to them.

      I could be wrong ..... but, I do like to speculate as it amuses me.

 
SCCO
32.83-0.35(-1.05%)Jul 29 4:02 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.