Lithium again is still centre stage of many companies including Liontown Resources trying to complete their infrastructure plants and have refined lithium for sale. With a late bid by Gina Rinehart for Liontown Resource competing with the last bid of $3.00 by Albemarle, the outcome is still uncertain as to who will have control. Gina held 16.4 % of the shares on 4th October.
Our long-term sections overall have lost value by 3.2% for the month. Leading is Margaret W with NXT. We had a short look at two videos one of Bega Cheese, and BOE (Boss Energy) a uranium supplier as world supply is low and there are low inventories. The world is looking for a stable country for supply and Boss Energy in Australia may meet some of this demand.
After the break – Prompted by the publicity given to Qantas CEO Alan Joyce, the matter of excessive payments was bought up.
While the $20 to $24million payment to Joyce was condemned by the public and press, it is of interest to compare with other CEO payments of $59m, $37m, $32m and even one executive paid $32 m which was $9m more than CEO.
Core Lithium CXO was viewed as it rose by 19% after the release of the annual report.
September is a big payment month for dividends with BHP and CBA paying out $96 billion fully franked.
Performance of the top 20 revealed only two companies in the red for the 12-month period.
We finished this segment with a comparison of 12 month fixed term deposits between major banks and LaTrobe Financial.
Our Short Term selections also lost 3% for the month. Five members changed selections hoping for a turnaround in the next period. Good Luck.
The next meeting of Investment will be on Monday 6th November at 2.00pm in our U3A room No.1.
John Hanlon and Malcolm Sanders.