BHP averted disaster today.
Have fun with US$6b of debt that BHP can wipe off within a year if it wants. Us boys at Rio are stuck with oh, nearly 8 times that and without a petroelum division!
I respect Kloppers for giving up on Rio, its well worth the $450 million in fees - at least you don't end up with all that debt.
I'm bailing out of Rio and mining stocks overall, Rio is basically on the brink with the Alcan buy, lower aluminum prices, a global credit freeze and even lower demand.
I can only be thankful that Rio was under 10% of my portfolio so it's not too bad.
I hate mining stocks so much right now. Every diversified miner including Rio, Teck, Xstrata, Anglo has been smashed 70 per cent - except for BHP in Australia.
kudos to bhp
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Last
$42.68 |
Change
-0.470(1.09%) |
Mkt cap ! $216.4B | |||
| Open | High | Low | Value | Volume |
| $42.71 | $43.20 | $42.68 | $463.8M | 10.82M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 13572 | $42.68 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $42.70 | 457 | 1 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| BHP (ASX) Chart |