Lonmin - What do people think

techead said:
I must agree with Thor187 on this ANC & Lonmin issue. They cannot afford for 35,000 miners to lose their jobs.

I'm going all in.
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Good Point.

Also, apart from the fact that government simply cant afford to lose 35 000 jobs, Lonmin is/or was the 3rd largest platinum producer in the world. If push comes to shove and government cant bail them out to keep the 35 000 jobs, surely the Chinese will jump in and save the day.

I dont think you will make a quick buck with Lonmin, but if you are patient, and wait a few years, that 28c per share could turn into R10 a share again.
 
Wesleigh said:
still down?
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This is the mail they sent me when I enquired about this same issue previously:
Good Day Warren Buffet,



Thank you for your query.



Please note that some securities are closed at that particular time because of the auction that takes place for certain instruments. This occurs because of the limit and liquidity issue that affects those particular instruments. Kindly be advised that you are able to place trades telephonically through our trading desk however, additional charges may apply. You can contact the trading desk on + 27 87 940 .6101/6102. Please bear in mind that we can only assist in execution and are not authorised to give trading advice.



Kind Regards
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Oh, When i got that message I pressed the greyed out confirm button, then it was not greyed out and I pressed it again and it let me buy.
 
Tman* said:
Good Point.

Also, apart from the fact that government simply cant afford to lose 35 000 jobs, Lonmin is/or was the 3rd largest platinum producer in the world. If push comes to shove and government cant bail them out to keep the 35 000 jobs, surely the Chinese will jump in and save the day.

I dont think you will make a quick buck with Lonmin, but if you are patient, and wait a few years, that 28c per share could turn into R10 a share again.
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Or even more.
 
EE quotes Lonmin at 30c but Google shows 29c. If I buy on EE now, which price would I be paying per share?
 
Tman* said:
Good Point.

Also, apart from the fact that government simply cant afford to lose 35 000 jobs, Lonmin is/or was the 3rd largest platinum producer in the world.
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We can't afford to lose those jobs, especially in one go but it is likely to end up being unavoidable.

Tman* said:
If push comes to shove and government cant bail them out to keep the 35 000 jobs, surely the Chinese will jump in and save the day.
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Why would the Chinese jump in?
 
So you guys with Lonmin shares planning to use your rights options then I take it?
 
icyrus said:
Unless you don't live in SA, you really really don't want to lose 30 000 plus jobs in one go.



Relevance to Lonmin?
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The Chinese need more people here, buy Lonmin dump the 35K blacks who are overpaid and stike all the time.

Bring in 50K chines who works 16 hour shifts without complaining.
 
Thor187 said:
The Chinese need more people here, buy Lonmin dump the 35K blacks who are overpaid and stike all the time.

Bring in 50K chines who works 16 hour shifts without complaining.
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Firstly, there isn't any chance of them doing that and getting approval from the government. Secondly, if they were planning on doing that why would they bother buying Lonmin as a legal entity and not rather just picking up their assets once they go bust? China is not going to rescue Lonmin's shareholders, they will go down with the ship.
 
icyrus said:
Firstly, there isn't any chance of them doing that and getting approval from the government. Secondly, if they were planning on doing that why would they bother buying Lonmin as a legal entity and not rather just picking up their assets once they go bust? China is not going to rescue Lonmin's shareholders, they will go down with the ship.
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China owns our government.

Regardless China will own SA within the next 10 years.
 
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