Lonmin Share Discussion Threads

[graham2405] 18/11/2015 08:33

"er Graham ... why nothing in the Prospectus, that was my point."

REGARDLESS, you should of worked out that the Ex-rights could not happen before a vote was counted and announced!

So, the Muppet handle sticks..... ;-)

[graham2405] 18/11/2015 08:32

The result of the vote should be announced tomorrow!

Probably during the meeting, or after markets close on Thursday

[elvisrocks] 18/11/2015 08:30

Der Graham ... why nothing in the Prospectus, that was my point.

[careful] 18/11/2015 08:30

losing money here.
but i did get one thing right.
i guessed that 'they' would drive it down to about 10p.
dumped a lot in the mid 20's then bought back at 10p.
still well underwater though.

investing in these markets is all about guessing the behaviour of the market riggers.
i even guessed the price of platinum would be shorted down.

we shall see, i may lose the lot, who knows.

[graham2405] 18/11/2015 08:30

Mid December (11th) is when they announce how many took up their rights.

i.e. How successful was the RI.

[graham2405] 18/11/2015 08:29

Then how the hell could that happen without the vote, so you are a muppet!

[elvisrocks] 18/11/2015 08:27

Not a muppet Graham, I read the Prospectus. I had realised they go ex rights on Friday morning. Der ....

[elvisrocks] 18/11/2015 08:25

Graham, so they make an RNS then sometime on the 19th afternoon (that wasn't in the Prospectus) then the mid December announcement is just the hard stats on Yes / No etc.

What sort of announcement is expected tomorrow, just a one liner by Lonmin not through RNS?

[graham2405] 18/11/2015 08:24

They trade Ex-Rights on Friday.

This Friday!

[graham2405] 18/11/2015 08:23

How the hell could they go ahead without the vote, what a muppet........

[graham2405] 18/11/2015 08:22

Elvis, it all kicks off on the morning of the 20th (Friday)

Vote will be counted tomorrow.

[careful] 18/11/2015 08:22

is that true. about mid december.
how long does it take to count votes?

i must check the timetable on the lmi website.

[graham2405] 18/11/2015 08:20

"why are people getting excited about an announcement when the result doesn't get announced to mid December?"

Elvis, the rights issue cannot go ahead until the vote is counted.

[elvisrocks] 18/11/2015 08:17

Can I ask two questions please, don't take this p... answering.

I thought today was closed for trading to allow SA/UK registers to combine. Why is there still trading, what benefit will anyone get?

Also the vote, why are people getting excited about an announcement when the result doesn't get announced to mid December?

[elvisrocks] 18/11/2015 08:11

Especially for you Graham with your first fetish for Barclays. Underweight at 25p. Cor Blimey.

And at "today's" platinum prices too!

hxxp://www.octafinance.com/barclays-capital-reaffirms-a-underweight-rating-on-lonmin-plc-lonlmi-and-gbx-25-50-target/

[elvisrocks] 18/11/2015 08:02

I have Graham, from the LSE site you love to frequent:

[graham2405] 18/11/2015 07:57

"Problem is, their ain't no fire."

Wake up!

[elvisrocks] 18/11/2015 07:48

Graham and Mikemaxm.

I have come to the clear conclusion after what me and Kojak posted last night that you both want to be firemen. "Fire, fire". Problem is, their ain't no fire. Go re-read last night posts.

[careful] 18/11/2015 07:43

why quote these derivative driven numbers.
someone is dumping piles of 'paper' contracts just now.
hard to work out why.
possibly related to this LMI rights issue.

They will close and it will bounce.
A coordinated attack.

Ignore share price and platinum price for a few weeks.
by about January/Feb things should settle.

[graham2405] 18/11/2015 07:27

Platinum $850 per oz.

....and Lonmins consensus numbers are:

Low = $1072 per oz.
Median = $1450 per oz.
High = $1500 per oz.

So, their idea of 'low' consensus is $1072 per oz.

.....interesting

[graham2405] 18/11/2015 07:15

hxxp://www.iol.co.za/business/companies/lonmin-boss-faces-tough-battle-1.1946877#.VkwkhvnhCHs

Oh that wonderful new CEO......

"Since he joined the company, Lonmin’s share price has fallen by 94 percent."

...and that oh so supportive 'investor'?

“Not supporting Lonmin would put the company at risk and it could potentially be harmful to the industry and the communities where Lonmin operates as well as the economy at large,” the PIC said last week."

They are effectively paying for jobs. This does not appear to be a financial decision.

[graham2405] 18/11/2015 07:10

"The rights issue is really being done at the behest of the banks – to mitigate their risk. Of the $407m in gross proceeds raised, only $369m will actually be for the use of the company. So Shareholders will pay half a billion rand ($38m) for the pleasure of the bankers being able to parlay their risk. That’s extortionate in my mind. Of the $369m the company will actually receive, $135m will go towards paying down debt facilities, leaving the company $234m it can actually apply to things like operating and capital expenses."

Those supportive banks.........

"The banks – JP Morgan, HSBC and Standard Bank – hold all the cards, but are demanding compensation that is excessive."

Oh, those very supportive banks.

[mikemaxm] 18/11/2015 06:55

"""The weakest company will go first. Net debt per ounce of PGM production in 2018: 1. Lonmin $310 2. Implats $335 3. Sibanye $1090"""
I dont know what to think about Sibanye.
Their agreement with Amplats is kinda strange.
If I recall correctly if their pt mines make a loss Amplats compensate them 300 mln Rand a year for five years.