Lonmin Share Discussion Threads

[philanderer] 20/8/2012 08:54

25% of miners have turned up for work today - BBC R5 live business.

[jumpenjim] 20/8/2012 08:36

same pattern as friday down 50p and slowly back up again !!!

[cassiopeia] 20/8/2012 06:16

Blood Money.

[insails] 19/8/2012 09:10

Julius Malema turns up to stir the pot.

"Organise yourselves and form a militant union. We want leaders who will not sell you out. We thought we can give NUM a chance, but NUM has proven itself that it has no intention to defend the workers".

[insails] 17/8/2012 15:54

BBC
The miners, who are currently earning between 4000-5000 rand ($484 - $605), say they want their salary increased to 12,500 ($1,512).

In May 2011, the company sacked some 9,000 employees after a strike.

[kasman] 17/8/2012 12:49

Basically - Shoot the crippled soldier if you wanna set an example.

[gardenarc] 17/8/2012 12:45

100 years of plat looks sound on a 5y veiw...

[kasman] 17/8/2012 12:39

There's the issue of compensation. Families of dead miners have been interviewed here on e-news in South Africa and it wouldn't surprise me if this company tanks on the amount of law suits heading its way. The SA government is not gonna foot the bill for this. Lots of other mining companies need a happy government here in SA. My money is on Lonmin being the fall guy. Just the way this industry works.

[davius] 17/8/2012 12:26

When grubbies like skanks turn up you know there's a trade to be had (doing the reverse of whatever he suggests). In at 606, out at 639. A happy day indeed.

[sanks] 17/8/2012 12:18

Yep Dusseldorf..that was the intr day knocker bounce from 5.92...atleast we know its destined for that target again!

What worries my cajones is the banking convenants..that alone should see it drip towards my 72p level 4 target

Hope this helps

[dusseldorf] 17/8/2012 12:15

Sanks - was that the knocker bounce? Further production will be lost, costs up revenue down. All this weighing on banking covenants.

Until they address the issue I think this will also continue to decline.

The rate of decline depends on whether they got a viable work force back today

[sanks] 17/8/2012 10:46

..nothing more then a titty bounce i suspect...easy drip target below £3 imo, will wait till i hear the knocker bounce from the floor

Hope it helps

[sanks] 17/8/2012 10:46

maybe they're not! post 862 LMI thread

[mike24] 17/8/2012 10:43

maybe reactions to strikers are a deliberate ploy? post 383 AAL thread

[mike24] 17/8/2012 10:43

see jo'burg "the star" newspaper workers to warriors

[sanks] 17/8/2012 10:38

I remain a shagger on LMI with a 72p level 4 target

[typo56] 17/8/2012 10:05

Makes Arthur Scargill's efforts look very tame

[cumnor] 17/8/2012 09:58

Leaving aside the humanitarian one could you invent a bigger PR disaster than watching police with semi automatics opening up on workers at the entrance to a company's workplace.

[typo56] 17/8/2012 09:53

It may be (have been?) a big producer of platinum, but they've got a lot of debt and are set to breach covenants. Judging by the amount of stock on loan there would appear to be a lot of interest riding on it going down. One wonders how far some shorters might go to help get it there.

Dusseldorf, I suspect that was a little British understatement!

[dusseldorf] 17/8/2012 09:51

insails - 3000 striking workers, no production output at their largest mine and 20 dead I hardly call 'labour relation issues' - it's a disaster. Factor in the fact they're overheads are likely to go up to appease workers and th goldman position on debt makes sense

[insails] 17/8/2012 09:30

FT.com, yesterday

Goldman Sachs, which added Lonmin to its "conviction sell" list, said the company would have to recapitalise its balance sheet next year. It forecast the company's debt to be five times operating earnings by September 2013, which would breach all its debt covenants. "This situation could cause the syndicate of lending banks to request action in our view, which would squeeze the equity holders," the broker warned.

Since then I hear they have had some labour relations issues.