kerry stokes mining interests
The Complete Guide to Planning For Your Retirement, Setting up an SMSF: 10 Things You Need to Know Before Starting, 3 easy steps to building your ASX share portfolio for an early retirement, 4 tips on how to pick winning stocks for your retirement share portfolio, This is the best asset to own to start saving for your early retirement, Commonwealth Bank of Australia (ASX: CBA), Flight Centre Travel Group Ltd (ASX: FLT), Vanguard Australian Shares Index (ASX: VAS), Why the Unibail (ASX:URW) share price gained 5% today, How the Saracen (ASX:SAR) share price stoked Kerry Stokes’ multi-billion dollar wealth, It’s not just Aussie Millennials driving the Afterpay (ASX:APT) share price to new records. © 2009 - 2020 The Motley Fool Australia Pty Ltd. All rights reserved. This article contains general investment advice only (under AFSL 400691). Queensland Premier Annastacia Palaszczuk has defied criticism about her border policy and been returned for another term in office after Saturday's election. The Motley Fool Australia does not guarantee the performance of, or returns on any investment. Former Labor deputy premier Jackie Trad is the biggest casualty in the Queensland election. See how you can find out the name of this stock. We still believe in the value of the integrated model and the value of The West and the opportunity for cross promotion between television and print," he said. SGH also has interests in Westrac, which sells Caterpillar earth moving equipment, especially within the iron ore, coal, lithium and nickel mining industries in WA and NSW. Financial Services Guide | But it certainly wasn’t the Seven West Media share price that saw Stokes’ wealth balloon. Following several years writing about the tourism industry in the Caribbean, he moved to The Netherlands to cover the EU’s booming commercial real estate markets. COVID-19 has had limited impact on heavy machinery provider WesTrac to date. Seven West’s share price is down 58% over the past 12 months. Queensland Premier Annastacia Palaszczuk said Labor would be able to form majority government. Stokes is far more widely associated with the media. 12 Stocks To Buy in 2020 (Including 2 Every Investor Should Own), Everything You Need to Know About Tech Investing, The Beginner’s Guide to Investing in Gold. Australian Capital Equity has 61% of Seven Group Holdings (SGH), which has 41% of Seven West Media. Mr Stokes said Seven West Media had been prudent in responding to interest in its West Australian Newspapers business, but poured cold water on a sale. Saracen is part of the S&P/ASX 200 Index (INDEXASX: XJO). In this FREE STOCK REPORT, Scott Phillips just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. "We have seen a big step down in oil demand. Mr Stokes said comments from Prime Minister Scott Morrison that "everyone who has a job in this economy is an essential worker" were an important indicator of continued support for the resources, infrastructure and construction sectors. Saracen shares hit their own peak on 27 July, at $6.48 per share, an all-time high. Win at Retirement Louise Kennerley. Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The company forecasts it gold production will increase from some 500,000 ounces in this financial year to more than 600,000 ounces in the coming financial year. ASX 200   |   A     B     C     D     E     F     G     H     I     J     L     M     N     O     P     Q     R     S     T     U     V     W     X. Kerry Stokes-controlled Seven Group has withdrawn guidance as its media and Beach Energy interests feel the brunt of coronavirus shutdowns and a plunge in the oil price. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Please remember that investments can go up and down. The Motley Fool has a disclosure policy. Our latest articles and strategies for the post-work life you want. It remains to be seen how ASX gold shares will perform over the next 12 months. Kerry Stokes’ interests run far and wide. Terms of Service | Trump is still playing catch-up in the polls, as the country braces for the possibility of violent fallout. Rather, as the AFR‘s Rich List revealed, Stokes made hay from his Saracen shareholdings. Please refer to our Financial Services Guide (FSG) for more information. So if you’re looking to get your finances on track and you’re in or near retirement – we’ve got you covered! A gain of 25%. Mr Stokes said the ability to keep key industries operating where possible was essential to financial stability and Australia's capacity to recover from the worst of the pandemic. Stokes is one of the richest and most powerful men in Australia, with interests in mining, construction and media, and an estimated net worth of US$2.4bn. Sign Up for Take Stock For more information please see our Financial Services Guide. Now if you’re like me, when you think of Kerry Stokes gold mining won’t be the first thing that comes to your mind. This Service provides only general, and not personalised financial advice, and has not taken your personal circumstances into account. Infrastructure-aligned Coates Hire's revenue is up 3 per cent despite losing the events segment of market. Subscription Terms of Service, ACN: 146 988 052 | Australian Financial Services Licence (AFSL): 400691, The Motley Fool Australia, PO Box 4635, Ashmore, Qld 4214. Seven Group said it had a $300 million "crisis liquidity buffer" to support its operations through any government-mandated actions. For a limited time, The Motley Fool Australia is giving away an urgent new investment report outlining our 5 favourite stocks for investors over 50. "It is not something we are looking to do (sell WA Newspapers). Past performance is not necessarily indicative of future returns. "With those provisions in place those sectors should continue to function to support our economy as much as possible," he said. â ª The Official Opening of the John Howard Reading Room at UNSW Canberra. The company said COVID-19 control measures already put in place by governments had hit advertising markets and major sporting events and in turn its earnings referable to Seven West Media, while the plunge in the oil price will impact earnings from Beach Energy. In his free time, you’re likely to find Bernd at the beach or dabbling away on a new work of science fiction. The Greens could win as many as four seats. Mr Stokes said the oil and gas sector had been hit by a massive dislocation in demand caused by global industry shutdowns, particularly in transport. Hear our experts take on shares, the market & how to invest. Motley Fool Australia » Share Market News » How the Saracen (ASX:SAR) share price stoked Kerry Stokes’ multi-billion dollar wealth, Bernd Struben | October 30, 2020 5:59pm | More on: SAR SWM. We believe that is a thematic through this year but don't believe that is a structural thematic," he said. Remarkably, his holdings in the Aussie gold miner were worth more than the entirety of Seven West Media. Join our flagship membership service, Share Advisor. .fool-ecap.fool-ecap-id-19.fool-ecap-type-vanilla {background: #fff7c4;} aside section .fool-ecap-id-19.fool-ecap-type-vanilla h3 {font-size: 1.6em;} p.ecap-disclaimer {font-size: 0.6em!important;}div.fool-ecap.fool-ecap-id-19 form {position: relative;text-align: center;margin: .2em 1em;}.fool-ecap.fool-ecap-id-19 p.ecap-disclaimer {margin-left: 0px;} .fool-ecap.fool-ecap-id-19 p.above-email{ margin-bottom: 0px;text-align:center;} div.fool-ecap.fool-ecap-id-19 p {color: #464646;}.fool-ecap-type-vanilla.fool-ecap-id-19 h3 {color: #404040;display: block !important;}.fool-ecap-type-vanilla.fool-ecap-id-19 .ecap-disclaimer{color: #484848 !important;}.fool-ecap-id-19.fool-ecap-type-vanilla h3.title{display:none !important;} .fool-ecap.fool-ecap-id-19.fool-ecap-type-vanilla{ margin-bottom: 10px;}.fool-ecap-type-vanilla.fool-ecap-id-19 input[type="submit"] { margin: .5rem 0 .5rem !important;}.fool-ecap.fool-ecap-id-19 img {display: inline;}. Saracen’s share price has gained twice as much as the price of gold since this time last year, which saw gold go from US$1,495 per ounce to US$1,877 per ounce today. Despite the recent slide, Saracen’s strong performance helped billionaire Kerry Stokes add $570 million to his wealth. Privacy Policy | Authorised by Scott Phillips. Bernd Struben earned his economics degree in the US. Listen to Our Podcast Since then the share price has dropped 14%. He is most widely known as the chairman of the Seven Network, one of the largest broadcast repeating corporations in Australia. Read the day's news here. "We think once the world get through this, the demand profile will come back. He employs a combination of macro economics and company specific data to gauge what he believes are tomorrow’s best investments. ... Latest In Mining. Perhaps the EPA can tell us. He moved to Australia in 2010, where he transitioned to analysing the Aussie equity markets. According to the Australian Financial Review‘s Rich List, Stokes wealth grew 10.2% year-on-year, reaching $6.3 billion. While many factors continue to support gold prices, the World Gold Council reported that the world’s central banks became net gold sellers for the first time in 10 years in the third quarter of 2020. 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Michael West News has just published an article on Kerry Stokes regarding his links to former WA Premier Richard Court which also touches on Stokes using his media to push his business interests and says: While Stokes is publicly recognised first and foremost as a media mogul through his ownership of the Seven Network though Seven West Media Limited, most of Stokes’ wealth is derived … Seven Group Holdings managing director Ryan Stokes. By clicking this button, you agree to our Terms of Service and Privacy Policy. Each company boasts strong growth prospects over the next 3 to 5 years, and most importantly each pays a generous (and fully franked) dividend! The Saracen Mineral Holdings Limited (ASX: SAR) share price gained 50% over the past 12 months. The Motley Fool Australia has no position in any of the stocks mentioned. Hopefully as stimulus measures are put in place we'll see incremental opportunities and growth in demand.". Labor Premier Annastacia Palaszczuk's hard line on keeping Queensland's borders closed has been a major part of her strategy for re-election. Mr Stokes, whose father Kerry Stokes is chairman of Seven Group and controls a 61 per cent stake, said provisions had been put in place in the resources and construction industries to safeguard workers while allowing operations to continue.


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