The LONMIN share price thread

[Toothless]

I dont think that will happen. Cosatu heavy on their case and will get government to help Lonmin with a bailout. 35 000 jobs at stake.

If the UK holding company decides to close shop, that is that. With or without government bailout. The only thing government can do is probably to award mining rights to other companies interested, and hope many will be re-employed, as for the rest, blame the West.

That being said, I saw a number of articles expressing concern over mining in SA under current government rule. So, this will indeed be interesting to monitor.

 

[Bundu]

Good. Now one can only hope it will climb, although some experts believe it will crash down to the single cents level, after which the company will delist and subsequently close down.

The rights issue is coming up in 7 days, but the shares may be in the 10 cents level before then, so I am not sure what will happen then when they offered shares at 21c...

if they drop below 21c most people won't take up their rights

 

[Toothless]

if they drop below 21c most people won't take up their rights

100% correct, and when it happens, this is when Lonmin in the UK will cut their losses and close down SA operations.

Once this share goes below 21c, no single serious investor will invest in this share in any event. The share will be kept alive for a little while longer by speculators hoping it will climb, but the price will just keep tumbling from thereon forth.

As per earlier warnings on Lonmin, there are many many people on this forum who has lost money, and some a lot of money. Many have bought in at 40c, 50c, 60c,80c, 90c and their shares are now worthless. But, soon, even those who bought in at 20c, 25c (including me) will own worthless shares too.

 

[Thor]

Waiting for the SENS anouncement

MyBB owning more than the PIC

 

[d7e7r7]

What is a SENS announcement? What is PIC?

 

[Alton Turner Blackwood]

What is a SENS announcement? What is PIC?

Stock Exchange News Service - The JSE broadcasts company news through this
Public Investment Corporation - basically a government department

 

[Toothless]

What is a SENS announcement? What is PIC?

Stock Exchange News Service (SENS)

The JSE offers a service that provides the user with access to company announcements such as mergers, take-overs, rights offers, capital issues, cautionaries - all of which have a direct impact on the movement in the market. This service is called Stock Exchange news Service.

First news I suspect will be cautionary news.

After this, the company is likely to stop the offering and will then need to make an urgent decision in regards to their business in SA.

Depending on this decision, trading will first be halted in Lonmin, and then the subsequent delisting.

This will be followed by a few investors' suicide and then millions of pissed-off chancers

 

[Toothless]

Be as it may, Monday will start off badly for Lonmin. I suspect trading will open at around 19c per share.

 

[Bundu]

I see the plat price has been picking up the last few days - I wonder if it's in anticipation of LON folding?

 

[DeathStrike]

Wow. That sucks. And I just started investing in it. Only R200 as I can't afford it right now. December/January is tough on the wallet.

 

[Alton Turner Blackwood]

Be as it may, Monday will start off badly for Lonmin. I suspect trading will open at around 19c per share.

The opening price is always the closing price of the previous day.

 

[air]

fawling knivez, how many fingerz you need?

 

[Neo_X]

one thing i found interesting is the large amount of platinum that is produced in SA (almost 70%)
https://en.wikipedia.org/wiki/List_of_countries_by_platinum_production


Rank Country/Region 2014 Platinum production (kilograms)
World 161,000
1 South Africa South Africa 110,000
2 Russia Russia 25,000
3 Zimbabwe Zimbabwe 11,000
4 Canada Canada 7,200
5 United States United States 3,650
Other countries 3,800

 

[Thor]

The opening price is always the closing price of the previous day.

Except for today... The opening price was 20 cents O_O

 

[Thor]

Be as it may, Monday will start off badly for Lonmin. I suspect trading will open at around 19c per share.

Stock Exchange News Service (SENS)



First news I suspect will be cautionary news.

After this, the company is likely to stop the offering and will then need to make an urgent decision in regards to their business in SA.

Depending on this decision, trading will first be halted in Lonmin, and then the subsequent delisting.

This will be followed by a few investors' suicide and then millions of pissed-off chancers

Fck off with this negativity!!

I have 10K "invested" in lonmin.

Give a brother some hopes

 

[Alton Turner Blackwood]

Except for today... The opening price was 20 cents O_O

Not quite, the opening price was the close of yesterday. The first trade was a closed trade at 20c.

 

[Thor]

Not quite, the opening price was the close of yesterday. The first trade was a closed trade at 20c.

Yesterday was 40 something, today was 20 cents

 

[thehuman]

Speculation here . Could the overseas lonmin stock tanked overnight?

 

[Thor]

Speculation here . Could the overseas lonmin stock tanked overnight?

No, don't think so

 

[marco79]

One question I cannot get an answer to, do I still buy the rights offer shares? Or are the current shares good enough. I have 13k normal shares and the rights for a further 11k.