Lonmin - What do people think

R13... said:
I think Glencore might be worth buying, they're unlikely to go into liquidation which I think is likely for Lonmin. Lonmin will not survive a prolonged period of low commodity prices.
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Possibly, but you never know the bottom and therefore when to buy is tricky.
 
Galactica said:
Possibly, but you never know the bottom and therefore when to buy is tricky.
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Of course, it is a risk you have to calculate and decide. But my point is their value long term value, even if they continue to fall, is likely to be a lot higher than where they now sit.
 
R13... said:
Of course, it is a risk you have to calculate and decide. But my point is their value long term value, even if they continue to fall, is likely to be a lot higher than where they now sit.
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That's true, one just needs to be careful...maybe staggering the investment. Being a long term investor will help.

Investors put in $2.4bn in Glencore less than 2 weeks ago...half of this value has been wiped out already...
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Ok all I failed again purchased more shares in the ailing giant. I purchased at R3,40. If they do survive the debt restructure great if not it was a fun lesson in how to be a Investing Idiot.

Glencore I would be very scared of as they trade commodities and while they are low they may not have real value vs a mine which at some point will be sold or mothballed. My new weighted share price is now R4.95, come on Lonmin you can get to double digits.
 
Dr Who said:
Ok all I failed again purchased more shares in the ailing giant. I purchased at R3,40. If they do survive the debt restructure great if not it was a fun lesson in how to be a Investing Idiot.

Glencore I would be very scared of as they trade commodities and while they are low they may not have real value vs a mine which at some point will be sold or mothballed. My new weighted share price is now R4.95, come on Lonmin you can get to double digits.
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I took that class and all I have to show for it is a t-shirt and 36500 ABIL Shares(Which i didn't pay 31c for):(

I know two other guys that both own over 200 000 ABIL shares
 
This could be the new get rich quick thread or the hall of stupid. Should be fun.

Lonmin at R3.91 @13:28 today. So far made 50c on the new shares and reduced my loss over-all. I feel like a Zama Zama just the legal kind.
 
Dr Who said:
This could be the new get rich quick thread or the hall of stupid. Should be fun.

Lonmin at R3.91 @13:28 today. So far made 50c on the new shares and reduced my loss over-all. I feel like a Zama Zama just the legal kind.
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Lol I have just made an offer on Lonmin. 60 shares @3.89
 
All in all there are some good bargains to be picked up following this slump. A lot of the bigger solid companies are more than 10% lower than where they ought to be. Sasol is below 400, if you have the cash you can buy and sell for over 400 in a few weeks for sure.

Edit: I see Sasol have recovered from the 370s and now back up in the 390s.
 
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Lonmin on the move again, now its R4.15 per share, closing in on my BEP ( break even point ) of R4.95.
 
in my view there is no strong upside to this share

commodity markets are in huge difficulty, basically no demand for the products mines produce
 
Looks like there should be some happy faces ( for all those who bought after me ) now we just need to edge closer to my BEP of 4.95 and then smash it.
 
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