Lonmin Share Discussion Threads

[dr_ex] 07/7/2014 14:23

yeah me too, this little sub wave down (last 2 days) should hopefully get us a new wave up back to 260p.

[mj19] 04/7/2014 18:09

Dr I am still holding... can we get above 248... and hold

[dr_ex] 30/6/2014 12:55

if it falls below that 225 area it could tank pretty far.

im feeling confident we will bounce from here, it will create a triple bottom on the chart so should provide some support.

fundamentally, i duno, i never can figure fundamentals of mining companies, cos the share price seems to random stuff compared to the actual fins of a company.

[mj19] 30/6/2014 12:05

ok just me and you. Hope there is no suprise like the need to raise capital?

[dr_ex] 29/6/2014 21:25

bought few at 233. stop at 224. hoping 300ish

[mj19] 29/6/2014 13:58

Anyone buying or just me

[mj19] 26/6/2014 18:06

Now just going down no production till sept ! Will they need to raise cash?

[mj19] 24/6/2014 14:43

strike agreement signed..

[bouleversee] 24/6/2014 11:15

Didn't last long!

[ch1ck] 24/6/2014 08:26

Nice breakout!

[leecoyote] 23/6/2014 20:21

300p tomorrow?

[mj19] 19/6/2014 15:03

when will the strike end...lol


Amcu: Demands are not new
56 minutes ago

Last Updated: 19/06/2014 at 03:14. Prices are delayed by 15 minutes. Source: McGregor BFA




Johannesburg - Amcu's demands in response to the in principle agreement were not new, Amcu national treasurer Jimmy Gama said on Thursday according to the SABC.

"All the in principle conditions that we have forwarded to the employers are related to the demands which we put forward last year," he said.

He said it was general practice for issues dealing with return to work to be raised "when parties are about to sign an agreement".

Meetings between Anglo American Platinum [JSE:AMS] (Amplats) and the Association of Mineworkers and Construction Union (Amcu) will continue on Thursday.

"We had a meeting yesterday [Wednesday], and we are having another one today," Amplats spokesperson Mpumi Sithole said.

Amcu and Amplats, Impala Platinum [JSE:IMP] (Implats), and Lonmin [JSE:LON] reached separate "in principle" agreements earlier this month.

Amcu then submitted written responses to Lonmin, Amplats, and Implats, with new demands.

The companies said the additional demands would involve extra costs of around R1 billion in aggregate.

Spokesperson for the producers Charmane Russell confirmed that the additional demands included a R3 000 return-to-work payment for each striking worker, withdrawal of criminal charges against Amcu members arrested during the strike, and a moratorium on retrenchments.

Implats spokesperson Johan Theron said his company had been communicating with Amcu, but had yet to hold a meeting with the union to discuss developments.

"We have been in telephonic contact, and communicating with them at the mine level. We haven't been able to sit across the table."

He said Implats had been holding board meetings over the past two days, but intended to meet Amcu soon.

"We are trying to meet with them as soon as possible, potentially later today [Thursday] or tomorrow."

Past meetings

Russell said the three mining companies had frequently met Amcu separately in the past, in addition to their joint meetings, and would continue to do so.

"While they share a common approach there are specific differences between companies and, ultimately, each company will finalise an individual settlement.

"The producers remain committed to finding an affordable, sustainable negotiated settlement," she said.

Lonmin and Amcu could not immediately be reached for comment.

Amcu members at Amplats, Implats, and Lonmin went on strike on January 23 demanding a basic monthly salary of R12 500.

Talks facilitated by the Commission of Conciliation, Mediation and Arbitration (CCMA) stalled in March after the CCMA ruled that the parties were too far apart.

[gary38] 18/6/2014 15:44

MMs might be taking out some stops.

[gary38] 18/6/2014 13:56

Sold on no deal ,dont want to be caught in a sell off.

[gary38] 18/6/2014 11:36

Thanks Tom

[pictureframe] 17/6/2014 21:20

Striker back to work this week.

[gary38] 17/6/2014 08:50

Brought £20,000 as signs of a deal looks promising and wanted to be in now just in case deal goes through.