The LONMIN share price thread

Lonmin is flying today, almost hitting R15......there might still be hope for you guys needing R30 :D
 
From this discussion it seems some people keep selling what is busy taking a share thats taking a dive, and buying something that's climbing. Inevitably they buy near the peak, and keep on buying just before it tanks. Keep buying high and selling low :D
 
Yip. I bought today, against my better judgment, just as its increase slowed. Went down just after and then slowly rose a bit. In the end I made 6% off lonmin today. Hoping tomorrow will see some rise again. Wonder if this increase is somehow due to the mining indaba at the CTICC
 
DeathStrike said:
Yip. I bought today, against my better judgment, just as its increase slowed. Went down just after and then slowly rose a bit. In the end I made 6% off lonmin today. Hoping tomorrow will see some rise again. Wonder if this increase is somehow due to the mining indaba at the CTICC
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Platinum is up to $924
 
no doubt the platinum price is driving the price increase

probably also got something to do with the fact that gordon met with the big players and now Zuma is going to meet with them as well.
 
DeathStrike said:
Yip I am bouncing off my chair right now so excited... I just can't hide it... Sorry just had to throw that in there.
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I dont see the beginning of the recovery in platinum when everyone is saying that it still needs to get a lot worse in 2016 first BEFORE it will get better....

Would certainly be nice though!!! :D
 
http://af.reuters.com/article/southAfricaNews/idAFL8N15O2QB

Lonmin CEO says will not shy away from merger or takeover

By Olivia Kumwenda-Mtambo

CAPE TOWN Feb 9 (Reuters) - Lonmin will not "shy away" from a merger or takeover but for now the company was focused on its plan to survive tough market conditions, its chief executive said on Tuesday.

"We are continuously looking at options to maximise value for our shareholders and all other stakeholders. Should it be of benefit to our shareholders and stakeholders it's not something we would shy away from," CEO Ben Magara told Reuters in an interview at a mining conference in Cape Town.

Magara said the company was for now focused turning cash positive in a low price environment - which involves closing high-cost shaft and cutting jobs.

"That's what I am worrying about. The investors have given us money and we must deliver. Investors are asking if we are going to deliver on this," Magara said.

Hurt by a prolonged 2014 strike, rising costs and a plunging platinum price, Lonmin raised $400 million through a cash call in December.

"I have no doubt that there will be pressure on us when we finally start making money. Will we go and put it in a project first or will we pay investors?" Magara said.

"I think it's important that investors will get their money back first. They deserve it."

Lonmin has said it will continue to review its services and reduce costs, mainly through cutting jobs, as the slide in the price of its main commodity bites further.

The price of platinum has fallen about 30 percent year-on-year, forcing miners to sell assets and cut production and jobs. Around two-thirds of the industry, whose mines were damaged by the five-month strike in 2014, are making losses. (Editing by James Macharia)
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currently trading at R16.50
 
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