Lonmin Share Discussion Threads

[elvisrocks] 19/11/2015 16:05

Good to see, as ever rackers, a well rounded post on the merits and demerits of Lonmin, wouldn't expect anything less from you.

A little tip, don't make out you are some Mr. kind hearted, considerate, salt of the earth guy. Your posting history let alone filthy/vulgar language shows you for what you really are.

[togglebrush] 19/11/2015 16:03

Major shareholder sale ... Old Mutual down from 34 million to 3 million shares

[n73] 19/11/2015 16:00

X-mas bonus for the ones who just got into Lonmin with this rights issue.

[rackers1] 19/11/2015 15:53

my hand oaf is in your back pocket - still nicking all those £50 notes out of em

cheers shag - you been most generous. oaf

[elvisrocks] 19/11/2015 15:51

rackers .... still waiting ...... still waiting ........

[togglebrush] 19/11/2015 15:48

ACTION FOR Qualifying CREST Shareholders only (simplified)
‘
Existing Shares marked "ex" by the London Stock Exchange 8:00 a.m. on 20 November 2015
‘
Nil Paid Rights credited to stock accounts in CREST (Qualifying CREST Shareholders only)
8:00 a.m. on 20 November 2015 … possible EPIC LMIN
‘
Nil Paid Rights and Fully Paid Rights enabled in CREST 8:00 a.m. on 20 November 2015
‘
YOUR BROKER will require payment before this date if held EPIC becomes LMIF
‘
Latest time and date for acceptance, payment in full and registration or
renunciation of Provisional Allotment Letters 11:00 a.m. on 10 December 2015
‘
Results of the Rights Issue announced 7:00 a.m. on 11 December 2015
‘
Dealings in New Shares, fully paid, commence on the London Stock Exchange 8:00 a.m. on 11 December 2015
‘
Record date for the Consolidation 6:00 p.m. on 17 December 2015

[brahmsnliszt] 19/11/2015 15:29

if i could cut and paste my bbg chart here i would.

[elvisrocks] 19/11/2015 15:25

Bit too late to vote now bouleversee!

rackers, I'm still here with my hand up. Try reading Post #6141. I read the accounts, Prospectus and important media. You probably dismiss it as trash.

So give us your important view then rackers. Your Shorty pants are now up, Lonmin balance sheet written down to "bare" minimum, profit and cash flows, Pt price, competitive position have been talked about at length on this Board. The kitchen sink has been thrown at the numbers, strong capital in place to stop shoty pants like you attacking it, starter "value" put out at $1.6bn against $100m closing market cap today.

Like I say my hand is up. Lonmin effectively re-IPOs from tomorrow.

Where is your hand? On your dummy and rattle?

[brahmsnliszt] 19/11/2015 15:24

for what its worth pt here is at the very bottom of a downtrend channel and rsi oversold. expecting a recovery personally.

[rackers1] 19/11/2015 15:14

the fact that elvis has been rampantly bullish here since 25p says it all bouleversee.
has called this horrendously wrong since he hijacked this thread and hasnt the decency to hold his hand up.

[bouleversee] 19/11/2015 15:11

I wonder what proportion of shares are held in nominee accounts where the holders won't bother to vote at all; too much hassle. I admit I shall probably be among their number since Selftrade hasn't offered to vote on my behalf. I don't suppose it will make any difference, not to me anyway as I've lost most of my money whatever happens. Wish I had Elvis's optimism.

[elvisrocks] 19/11/2015 15:01

90 minutes to go until the lights go out on OldCo Lonmin .....

[ravenna23] 19/11/2015 14:40

November 2025. South African media are astonished that the erstwhile directors of Lonmin have evaded prosecution regarding the failed $100m PIC investment in Lonmin. The FCA are out to lunch and have no comment. Apparently the ex directors cannot be charged as they all live in the Cayman Islands. The Rowland shaft is now a popular tourist attraction admired by visitors from across the world as the ultimate money pit.

[lazyhisnibs] 19/11/2015 14:39

I'm genuinely surprised how well the share price has held up in to a discount that created dilution worthy of the records books. The PIC getting knee deep in to the underwriting had a fair amount to do with that I guess. Also, PI's banking on being able to sell a lot of their rights.

PGM prices also not doing anything dramatic today suggesting that Lonmin's continuation makes less difference to their price trajectories as many might think. That also came out of an analysts on screen discussion four or five months back.

[graham2405] 19/11/2015 14:38

No FT, No Comment......

"But its newfound wiggle room will be short lived. On top of risks beyond its control — such as South Africa’s uncertain power supply and pricing, changeable mining regulation, poor productivity and unpredictable labour relations — Lonmin will slide back into its familiar pattern of debt in no time. Net debt at end-October was $284m, leaving $85m in net cash from the rights issue plus the refinanced bank facilities. Assume the platinum price stays put, earnings stay flat and the miner sticks to planned capital spending of $430m in the next three years. Add all that together, and it could be back into debt in a year. Lonmin claims it will break even at the cash flow level by the end of next year (after capex)."

[kojak78] 19/11/2015 14:33

Life goes on. Sold my Sibanye position that I bought as an insurance against a no-vote.

[elvisrocks] 19/11/2015 14:19

Straight copy and paste from the iii site. Sounds reasonably convincing that this individual was at the GM this morning. No doubt posters here will make their own mind up whether what was seen was authentic or just an easy PR stunt to pull off.

"Despite a negligible holding this was the only show in town. The resolutions were all passed but with about 12% vote against. The board members acquited themselves well and even had an applause at the end of the meeting.The CEO proved to be able to answer my questiins very well. The chairman has immense experience and industry knowledge. They were suitably cgastened by recent events and emphasized the adverse future pgm pricing in their pkans. Overall they were reasobably cinvincing. Will stop now as its hard work using my phone!

The Buzz"

[graham2405] 19/11/2015 14:01

Funny, I think of the following song when conversing with Lonmin shareholders....



;-)

[elvisrocks] 19/11/2015 12:45

Poetic careful as you noted y'day.....

[careful] 19/11/2015 12:44

when you slag off Graham, I think,
'don,t be cruel.'
..only forget the bit about...'to a heart thats true.'

[elvisrocks] 19/11/2015 12:41

Elvis is still here Careful but lol on that one, can't see it!
Do you have a favourite Elvis track?

[careful] 19/11/2015 12:40

if the share price closes at 20p today,
the ex rights price should open at 1.4p.
value of rights 0.4p.

quite possible.

[elvisrocks] 19/11/2015 12:36

Careful, would you see essentially what buying is left today as essentially buying the "right to the rights" for tomorrow etc. What do you make of UBS' 0.40p?

[careful] 19/11/2015 12:35

i did not vote but will take up my rights.

seems as though elvis is about to leave the building at last.
..or maybe he already has.
all of that typing for nothing.

[elvisrocks] 19/11/2015 12:34

Which means that PIC will get their extra 25%, flog it to black entrepreneur(s) with their own stake bought, likely takeover or other deal in 2016, "carefully structured Business Plan..." and all that.

Bye bye Lonmin as a Plc.