The LONMIN share price thread

Drifter said:
Watched an insert on Stock Watch on DSTV where they discussed shares in mining companies. The consensus from the panel is that shares in mining companies dont glitter anymore and it's perhaps time now to invest in different portfolios. They were all dumping their mining shares. A bit of doom and gloom for SA.
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The mining issues is not primarily restricted to SA, but it is internationally. However, that being said, while the mining industry may still look forward to future growth again, South Africa is definitely excluded from this. Our policies, with specific regard to BEE, AA and people's rights to wage demands and strikes is something that will prevent all future growth in the mining industry in this country. Lonmin as well as all other mining groups already seen this. Many started scaling down on operations, staff and much more.

Our future mining looks bleak. I am still of the opinion that our mining industry will consist of a few small chinese groups running small operations here and there. It will never be the same again.
 
Last week I bought R500 at 21c.
That's about 10 min at the blackjack table, so I think a fair amount for something like this.

Right about now I'm pretty glad I procrastinated at the R2 mark, the 60c mark and the 40c mark :)
 
Method said:
hmm...what could it be?

#ZumaDiedlol

:D
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The National Working Committee had a meeting late last night. The committee consists of about 6 highly placed ANC members. However, they are not the NEC and I do not think they have the power to make any decisions in regards to removing members. They can make recommendations to the NEC though.

That being said, I think they will try to justify the reason for Zuma's decision in the recall and new appointment of the finance ministers - a big mistake in my opinion. It may send the markets tumbling again.
 
Toothless said:
The mining issues is not primarily restricted to SA, but it is internationally. However, that being said, while the mining industry may still look forward to future growth again, South Africa is definitely excluded from this. Our policies, with specific regard to BEE, AA and people's rights to wage demands and strikes is something that will prevent all future growth in the mining industry in this country. Lonmin as well as all other mining groups already seen this. Many started scaling down on operations, staff and much more.

Our future mining looks bleak. I am still of the opinion that our mining industry will consist of a few small chinese groups running small operations here and there. It will never be the same again.
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This!
 
Drifter said:
No way they will remove Zuma, If they do, I am getting so pissed tonight!!!
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Same here!

Toothless said:
The National Working Committee had a meeting late last night. The committee consists of about 6 highly placed ANC members. However, they are not the NEC and I do not think they have the power to make any decisions in regards to removing members. They can make recommendations to the NEC though.

That being said, I think they will try to justify the reason for Zuma's decision in the recall and new appointment of the finance ministers - a big mistake in my opinion. It may send the markets tumbling again.
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Yep, if they are going to try and justify it (which they might as they usually do with obscure reasoning), then we're in for another market/rand drop.
 
Method said:
Yep, if they are going to try and justify it (which they might as they usually do with obscure reasoning), then we're in for another market/rand drop.
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Totally agree with you.

I really do hope, for those who have investments in the market, that this is not the case. But, I do not see anything else happening at 1.

The only way Zuma can be removed is if the NWC sent a recommendation to the NEC. And, then sometime after 11 last night or this morning, the NEC gathered and voted on this. I do not think this is the case.
 
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