Sign up with GoogleWell, if it was her, she is f**ked. Closed at 21c. Tomorrow we will see 18, 19 and 20c ranges.
Good for those who sold at 22 and 23c today!
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The LONMIN share price thread
- Thread starter snoopdoggydog
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- lonmin shares
Well, if it was her, she is f**ked. Closed at 21c. Tomorrow we will see 18, 19 and 20c ranges.
Good for those who sold at 22 and 23c today!
To be honest, me too. But the coincidence....
theratman
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It's also not quite 100k,would've gotten more shares with 100k even if you take a broker fee into consideration.
You are wrong. Depends on who she used. This is very possible that this was a single 100k transaction. Not saying from her though.
The volume average was 23c, so the purchase price would have been around 96k. 4k broker fees and all the other fees is not impossible on a 100k transaction.
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theratman
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Was about to quote you on your initial response with "Someone that is paying 5% plus on broker fees for 100k needs a new broker"
But your second paragraph does make more sense to me.
Just as well. As I expected we would have seen the 21 / 20c mark today still. Just did not think it would close on 21c. I think tomorrow we will see new lows for Lonmin. I think this downward trend will continue for the rest of the week. I look forward to seeing where it will end.
Thor
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Quick question....
Spread trading....
In Spread trading it's all about speculation right?
Meaning you never actually own the share...
Since we know the price will be R21 after consolidation...
Would it not be possible to take out a long trade on lonmin in GT247 and make the risk say R5 per point...
From 22 cents to 21 Rand should be a hefty spread?
Spread trading....
In Spread trading it's all about speculation right?
Meaning you never actually own the share...
Since we know the price will be R21 after consolidation...
Would it not be possible to take out a long trade on lonmin in GT247 and make the risk say R5 per point...
From 22 cents to 21 Rand should be a hefty spread?
DeathStrike
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Wait where did you see the price will be R21? If that's the case I need to invest more money.
Polymathic
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Sounds too good to be true to me
That's after consolidation, meaning after they convert every 100 shares to 1 share. So if you had 3000 shares you would end up with 30 shares. Also I would imagine that R21 is just an estimate but it should be around that figure.
Drifter
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Lonmin (LSE: LMI) is one of the worst performers this year, with its shares having lost 99% of their value over the past 52 weeks. Platinum prices, at a seven-year low, are largely to blame. But, even before this year's decline in commodity prices, the platinum miner lagged behind many of its peers, indicating its problems are actually a combination of structural and cyclical factors.
Labour disputes and rising costs have made it difficult for Lonmin to mechanise production, and a significant proportion of its production had been sold below cost price. The miner has a lot further to go in cutting costs, as well as reducing the size of its 36,000-strong workforce. City analysts aren't optimistic, with forecasts that underlying pre-tax losses will be $46 million in 2016. Unless commodity prices make a spectacular recovery in 2016, Lonmin is unlikely to bounce back soon.
https://uk.finance.yahoo.com/news/drax-group-plc-59-aberdeen-105326753.html
Labour disputes and rising costs have made it difficult for Lonmin to mechanise production, and a significant proportion of its production had been sold below cost price. The miner has a lot further to go in cutting costs, as well as reducing the size of its 36,000-strong workforce. City analysts aren't optimistic, with forecasts that underlying pre-tax losses will be $46 million in 2016. Unless commodity prices make a spectacular recovery in 2016, Lonmin is unlikely to bounce back soon.
https://uk.finance.yahoo.com/news/drax-group-plc-59-aberdeen-105326753.html
Drifter
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Lonmin (LSE: LMI) is one of the worst performers this year, with its shares having lost 99% of their value over the past 52 weeks. Platinum prices, at a seven-year low, are largely to blame. But, even before this year's decline in commodity prices, the platinum miner lagged behind many of its peers, indicating its problems are actually a combination of structural and cyclical factors.
Labour disputes and rising costs have made it difficult for Lonmin to mechanise production, and a significant proportion of its production had been sold below cost price. The miner has a lot further to go in cutting costs, as well as reducing the size of its 36,000-strong workforce. City analysts aren't optimistic, with forecasts that underlying pre-tax losses will be $46 million in 2016. Unless commodity prices make a spectacular recovery in 2016, Lonmin is unlikely to bounce back soon.
https://uk.finance.yahoo.com/news/drax-group-plc-59-aberdeen-105326753.html
Labour disputes and rising costs have made it difficult for Lonmin to mechanise production, and a significant proportion of its production had been sold below cost price. The miner has a lot further to go in cutting costs, as well as reducing the size of its 36,000-strong workforce. City analysts aren't optimistic, with forecasts that underlying pre-tax losses will be $46 million in 2016. Unless commodity prices make a spectacular recovery in 2016, Lonmin is unlikely to bounce back soon.
https://uk.finance.yahoo.com/news/drax-group-plc-59-aberdeen-105326753.html
Just read back a few pages, there are article references. But, it is not as easy as 'it will be R21'.
There will be a consolidation. They will convert every 100 of your shares into 1 single share and that share will be worth R21. So, if you had 1000 shares, you will now only have 10 shares, each valued at R21.
So, everyone who bought at more than 22c a share, will suffer a loss when the process finalizes on the 17th.
Only thing I am wondering about now is that Lonmin shares hit the 21c mark and I expect it to fall below the 18c mark by the end of this week. In fact, I will not be surprised if the shares will hit the 10c or below mark. Will the new share price after the consolidation still be R21 per share? Or, will that amount decrease as well? Thus, can they change the offer they made of 21c per share (which is converted to R21 after the 100:1 consolidation) in their rights offer?
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Thor
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Can we quickly come back to this please^
I suspect that the Lonmin share price will drop below 21c this week. If this happens, I do not see them proceeding with the rights issue, which was offered at a cheaper rate than the share price. This may actually lead to the JSE suspending trading in Lonmin and subsequently a delisting request by Lonmin. I think delisting may be happening very soon, as fast as this week still should their share price continue to drop below 21c.
I still think, those who still have shares left, get rid of them if possible.
I still think, those who still have shares left, get rid of them if possible.
Thor
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Was thinking this too
i dont know much about spread trading, but i guess your shares will be consolidated like a normal trading account.
thus gain (or in this case Loss) will be amplified when consolidate happens, (eg 10,000 shares @ 35% exposure will change to 100 shares still with 35% exposure.) Only after that will the change in share price be considered.