A definite fact. Accepted by the board.
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The LONMIN share price thread
- Thread starter snoopdoggydog
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- lonmin shares
A definite fact. Accepted by the board.
Drifter
Honorary Master
Consolidation sounds like a total loss to me.
If it's all doom and gloom for Lonmin, why is there still such a strong buy consensus?
If it's all doom and gloom for Lonmin, why is there still such a strong buy consensus?
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Yes, it will be a loss to anyone who invested the past couple of years.
samrai.jck
Expert Member
OK, so I got out of lonmin a few daya ago when the going was good, now my colleague at work still has R500 worth of shares, I have not been following it any more and he is asking advice, what would it be, should he sell it now at what it is?
If Lonmin had been a company that has not been plagued by so many problems, this would not have been a problem. Fact is, their mining business in SA is over. That share price will fall tremendously again.
Way too much risk.
Sell as soon as you can.
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Sorry oom
theratman
Honorary Master
My current shares:
Do I cut my R67.14 loss or just ride it out seeing as it's so little (relatively speaking)?
At that investment level you are not looking at much of a loss(Rand wise), simply because the invested amount is so small. You might as well gamble it out and see where it goes. If you had a few thousand it'd be different.
I've put in a few hundred rand and I'll see where it goes, I'm a sports bettor so the money is already written off as a loss to me. If it hits 50c I'll sell if not then so be it.
My current shares:
Do I cut my R67.14 loss or just ride it out seeing as it's so little (relatively speaking)?
I do not see Lonmin share go back to 70c December.
Also, come the consolidation, you will in any event be down on your investment.
I would say, if you do not mind losing your money (I suppose it was R100?), hang on and see what happens until the 17th of December. But, if you do want your money back, or at least some of it, sell it right away.
Yes it was R100. This might seem like a very noob question and it probably is but anyways... Just want to check if there's any chance that I or any other shareholder will have to owe money if Lonmin goes bust?
Solitude
Executive Member
I for one am in it for the long haul. I put in money that I don't mind losing. It's a gamble and I'm waiting until next year.
theratman
Honorary Master
http://www.moneyweb.co.za/news/comp...ppens-to-shareholders-in-a-de-listed-company/
You'll basically have a share in nothing as it'll delist.
marco79
Expert Member
I will hopefully sell off 10k shares early next week and leave 4k in until end Jan/Feb 2016. As it stands I am down R550 on close to 14k shares.
And, you will be down substantially more when the rights issues are finalized. Good luck.
Thanks for the link.
Drifter
Honorary Master
What makes you so sure Toothless? Historical data?
The consolidation of the shares to make it less 'volatile' will already ensure a drop in the value of your shares. As for historical data, looking at Lonmin the past 8 years, it is clear the company is falling. Lonmin has not fallen suddenly, something from which it can recover, but its fall has been gradual, indications of a company in trouble. In fact, it has fallen so much that there is virtually no more chance for it to recover. No serious investor will invest in Lonmin for the long run.
I would never have invested a single cent in Lonmin. The only reason I did was based on a gambling urge. As the company is dying and on its way to delisting, I knew there would be volatility and one can make good money on this volatility in the short run. It seems I was a bit too late for the ride, but good for those who cashed in the past week or 2.
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