Lonmin Share Discussion Threads

[careful] 12/11/2017 12:16

I am holding.
Hoping that Ben Magara will in fact tackle the overheads in his upcoming operational review.
He is in a difficult situation but seems to know what he is doing with regards to labour relations.

He must have known during the last rights issue that his restructuring was just tinkering and that the cash would soon run out.
..and praying for a surge in PMG prices was a miracle that was unlikely to happen.

The business must be rightsized around todays PMG prices.

[dealy] 12/11/2017 12:04

But operational performance and cash flow have not been worse than expected. This is why I believe fears are overblown

[careful] 12/11/2017 11:48

Who would have thought that the need to raise more cash and breaching covenants would possible less that 2 years since the last rights issue.
Even the most pessimistic would not have guessed that outcome.

[careful] 12/11/2017 11:45

Lonmin stated that 60% of its overheads are labour costs.
They dare not take on the unions.
33,000 direct employees plus contractors.
This number needs to be drastically reduced.
The 11,000 employed by Randgold, probably needs some capital investments to achieve but seems about right.

Asking shareholders yet again (already been tapped for $1.1bn in recent years) is just a wast of time. We would just be subsidising overstaffing.
Selling assets after granting last years 7% pay rise just buys time, another slow death.

They should be able to make profits at todays PMG prices.What a disaster this investment is, we shareholders are suckers. The cash we contribute is atonement for centuries of exploitation some would argue.

[dealy] 12/11/2017 09:56

No new news in that article.

[suncanaria] 12/11/2017 09:13

The mail are suggesting another cash call

[glenkaz] 11/11/2017 19:26

Wishing you guys luck 🤡✌A039;

[dealy] 11/11/2017 16:02

I reckon we will get the update on the TNW calculation on Monday and any impatient on the facilities. They can then come out with the final results by end of month

[carbon man] 10/11/2017 17:10

Notice trolls absent, will be doing their darnedest to rattle the private investors out around Sunday pm . Watch this space and see greed at its worse.

[master rsi] 10/11/2017 15:46

Platinium is rising again +$3.6
Share price ready to move higher from this point 65.25p ( 65 v 65.50p ) after yesterday rise and today retrace.

Intraday Platinium price

[mister md] 10/11/2017 13:35

Shorting is for losers. Sounds like you're kind of thing then

[mister md] 10/11/2017 13:35

Shorting is for losers. Sounds like you're kind of thing then

[mister md] 10/11/2017 13:17

Shorting is for losers. Sounds like you're kind of thing then

[mister md] 10/11/2017 13:04

Shorting is for losers. Sounds like you're kind of thing then

[mister md] 10/11/2017 12:55

Shorting is for losers. Sounds like you're kind of thing then

[mister md] 10/11/2017 12:35

Shorting is for losers. Sounds like you're kind of thing then