Lonmin Share Discussion Threads

[ravenna23] 20/6/2017 15:28

I lost a considerable amount of money on this share prior to the last rights issue. I cut my losses. It has already become part nationalised via its largest shareholder. The SA government will not allow it to fail as so many jobs are at stake. However hope is pinned on a higher platinum price. There will not be another public fundraising, I doubt it would receive any non SA institutional support. For example Standard Life have moved on. My guess is it will be taken over by the state.

[pjm1162] 20/6/2017 12:45

Based on technical analysis53 is my bet Can't predict timing, but who can

[careful] 20/6/2017 12:37

down from 180p to 65p in 6 months.
another huge crash here.

I guess none of us could see this coming.

[kulvinder] 20/6/2017 11:29

I can't deny you called it correct up to now, so what is your 53p target based on - some insider knowledge?

[pjm1162] 20/6/2017 10:41

New 1 yr low again 63.5 You keep telling me I am wrong Blinkered C ya at 53p

[pjm1162] 19/6/2017 16:41

67Drip drip

[pjm1162] 19/6/2017 15:30

Years of experience tells me miners doing business in certain foreign countries = disaster in the end....Simplzzzzzzz

[technowiz] 19/6/2017 15:02

back above 67p 👍. has the share price turned??

[mikemaxm] 19/6/2017 12:58

Platinum miners will rise only if there is increase in demand for pgm or reduction in supply. There is no signs that demand will increase. As far as supply is concerned more production from PTM, Northam and Ivanplats is expected.

[careful] 19/6/2017 12:53

the money seems to get squandered mikemaxm.
all of that talk by the ceo about being cash flow positive was hot air.

[careful] 19/6/2017 12:51

We are all asking the same question as PMJ.
Is LMI going down altogether after its forth rights issue a while back.?
I remember clinging on to KAZ all the way down to about 180p.
There were PMJ's there and was being shorted.
It turned around quickly and rose 4 fold.

[mikemaxm] 19/6/2017 12:49

Careful you keep saying about 400 mln from rights issue. Tell us how much lonmin have in cash and where all this money have gone? You must know that over the last 10 years Lonmin raised about 1.7 bln usd in cash. Where those money have gone?

[kulvinder] 19/6/2017 12:40

The fact is still in free fall so the shorts are still winning, no sign of it breaking, maybe PMJ does know something that us mere minions don't.

[careful] 19/6/2017 12:38

comparing with RRS the gold miner.
last year the turnovers were similar.
RRS $1200. LMI $1118
RRS profit $400m.
RRS market cap £6617m.
LMI market cap £185m.

makes us think.

[careful] 19/6/2017 12:28

rights issue raised about $400m.
company is valued at well below that today, 18 months later.
a charitable donation.

[careful] 19/6/2017 12:18

It is difficult to rightsize this business.
local communities are aggressive and demand more jobs.
after the shootings and killings of the recent past they are still angry.

Run properly, Lonmin should be a great business and could make decent profits even at todays PMG prices.
..but it is impossible to manage.
everyone praying for an increase in PMG prices to bale them out.

[careful] 19/6/2017 11:56

unions already own a chunk of this.
they paid about 100p if I remember correctly.
only 150,000 shares traded today.

they need to get the cost of production down to about $160/0z.
a turnover of $1100m should be able to produce a decent cash flow and profit.
but can the unions be managed here.?

[pjm1162] 19/6/2017 11:43

New 1 yr low of 65.75But non of you believe me when I sayC ya at 53I always laugh last

[investment dave] 19/6/2017 11:35

This is going bust

[harry_david] 19/6/2017 11:22

Dealy, according to my calculations at todays prices the cash position is reducing at the rate of $2million a week. this gives them some time but the unknown is the restriction on drawing down their loan facility. If that is tied up the position could become precarious.
The other unknown is the labour position. Inflation is bringing forward problems and we recently saw two shafts closed down for this reason.

[technowiz] 19/6/2017 10:16

take a dog to know one 😋

[targatarga] 19/6/2017 08:35

I'm giving pjm the thumbs up.... I should know as I've held dogs like these previously!

[harry_david] 18/6/2017 23:47

Dealy I am concerned that current platinum prices and the firmer rand will be causi,g cash burn despite the higher palladium price.

[pjm1162] 18/6/2017 18:38

I am thilthy richArrogant, patronising, don't care for losers, only think of my self, never guilty about anything, etc etc, the list goes on. But I love myself I love lonmin too, because I am even richer shorting it when idiots buy this dog Best of luck to you though.I bet if we sat down together over a bottle of bubbly or 4 you would love me to. Inside track That's me ?au ?au

[dealy] 18/6/2017 08:12

PIC would surely meet the black ownership criteria so in that regard Lonmin is fine imo. No need to raise additional capital because the company has net cash and did not burn cash since the last capital raise.