What a month it's been, especially last week!
We saw giant companies like Tongaat, Lonmin and Basil Read suspend their shares.
These are companies that have been around 30 to 127 years and now they're being taken off the JSE.
And despite this mass culling, the JSE is still rising to new highs.
In this article we'll briefly catch you up on what happened in June with the m... ››› more
The RMB/BER Business confidence index for 2018 Q1, rose sharply to 45, the highest level since 2015. A level above 50 is considered positive, but it's a move in the right direction.
As mentioned last week, improvements in investor, business and consumer confidence is the tail wind behind improving economic growth.
There are a few obstacles that could come in the way of increasing growth li... ››› more
More bad news for the Lonmin share price In 2012 Lonmin asked shareholders for R7.12 billion in capital to keep the doors open. At that stage the company was worth R8 billion. But investing in Lonmin was a bad idea.
By 2015 the company burnt through all of that money. Its value crashed, with the company being worth a mere R1.2 billion in November 2015.
And then, as the creditors came knock... ››› more
I can still remember the first car I ever owned. It was a 1.4 VW Golf Chico with 110,000km on the clock. I got it second hand when I went to university. My dad's deal was I had to maintain it. The little car did its job well and took me everywhere I needed to go, even through the Karoo during noontime in December without air-conditioning!
Through all the sweet memories I made, there are a few t... ››› more
On 9 November 2015 Lonmin revealed its latest $408 million grand plan save the company.
Shareholders "just" need to give the company, which has declined 97.87% in the past five years, nearly R6 billion through Lonmin's latest rights offer scheme.
Lonmin is currently worth a mere R1.2 billion.
Any investment in the company right now is throwing good money after badif you ask me…
But t... ››› more
Anglo Platinum soared 600% between 2005 and 2008. Impala Platinum was up 448% and Lonmin jumped 501% in the same time.
But here's the thing.
Just before those massive price raises, all three of these shares experienced a big 50-60% drop between 2002 and 2003.
Today, as you know, these platinum stocks are in the midst of a long downtrend.
Now, the question is, are these platinum stocks ... ››› more
Earlier today, Lonmin Plc announced its plan to raise $400 million through a rights issue.
The world's third largest platinum miner is taking steps to deal with the current commodity price slump, which has put pressure on its business.
Let's take a closer look at what's going on…
Lonmin is making changes to cope with the current climate
Lonmin [JSE:LON] wants to “raise $400 mill... ››› more
Lonmin is a producer of platinum and platinum group metals. The company has a listing on the Johannesburg Stock Exchange…
Full name: Lonmin Plc
Short name: Lonmin
Sector: Basic resources - mining
Five top facts about Lonmin
Lonmin employs about 28,000 workers on a full-time basis. The company also uses about 10,000 contractors at its operations.
... ››› more
Shares in platinum producer Lonmin have been under heavy selling pressure today following an announcement by major shareholder Glencore to divest out of the business.
Glencore says this is due to platinum not being part of its core business.
Shares plunged in earlier trade, but have recouped some losses, but they remain down over 5%.
Let's take a closer look at what's going on…
Gl... ››› more
Earlier today, Lonmin released its production report for its first quarter.
The platinum producer, which is the world's third largest, said it plans to keep output unchanged, but is cutting costs.
Let's take a closer look at what Lonmin revealed…
Lonmin plans to cut spending by 26%
Lonmin [JSE:LON] says it “will cut its capital expenditure” for this year as the near term prosp... ››› more
Yesterday, Lonmin Plc released its results for the full-year to the end of September.
The platinum producer revealed the full extent of a five-month strike that hit the sector between January and June this year.
But investors greeted the results well as Lonmin confirmed that it didn't need to raise more funds.
Let's take a closer look at what the results showed…
Lonmin points to b... ››› more
It's been a tough year for Lonmin so far. A five-month strike in the platinum sector hit its production.
Yesterday, reports speculated that the platinum miner had plans to let go up to a fifth of its workforce.
But the CEO of Lonmin, Ben Magara, says this is untrue. He says the miner is concentrating on increasing production.
Let's take a closer look at what's going on…
Lonmin foc... ››› more
Earlier today, Lonmin released its third quarter production report to the end of June.
The five-month strike hit the platinum producer hard, with no production taking place over the quarter.
But the company has reassured investors that it has the funds to get back on track and boost production.
Lonmin shares rallied on the news. Let's take a closer look at what Lonmin revealed…
Th... ››› more
After five months of strikes, yesterday Amcu signed the new wage agreements with the big platinum mining companies. This deal secured wage rates for the next three years.
And right now, this deal will be the catalyst for a massive profit opportunity for value investors.
Let me explain.
Platinum profits have been hit, but the value is still there
Although the strike has ended, a... ››› more
This morning, the Association of Mineworkers and Construction Union (AMCU) and the world's top three platinum producers resumed talks to try and bring an end to the near four month long strike. The market took the talks as a hint that the strike could come to an end soon with two of the producers rallying. Let's take a closer look at what's going on…
New wage talks began this morning
At 1... ››› more
Today marks the day Lonmin asked its striking workers to return to work. Following the Association of Mineworkers and Construction Union (AMCU) rejection of the platinum producers' latest offer, Lonmin gave its employees the option of accepting the offer and returning to work today. But will the move by Lonmin work? Let's take a closer look at what's happening today…
Lonmin is eager to kno... ››› more
Some workers are choosing to return to work as the strike continues. Lonmin offered its workers a new wage offer directly after the Association of Mineworkers and Construction Union (AMCU) rejected it. And it appears workers are taking up the deal and returning to work as Lonmin requested. But yesterday saw the killings of four Lonmin workers who were trying to make their way back to work. Tension... ››› more
Earlier today, Lonmin released its results for the six months to the end of March. The results showed that Lonmin is struggling to contend with the strike which began in January. The strike has decimated production. Let's take a closer look at what Lonmin revealed…
Platinum production figures plummet
The world’s third biggest platinum producer, Lonmin, “reported steep falls in output and... ››› more
After some glimmers of hope that the platinum sector strike was nearing an end, the Association of Mineworkers and Construction Union (AMCU) has formally rejected the latest offer. The platinum producers affected by the strike announced the news this morning. The strike is now in its fifteenth week. Let's take a closer look at what's going on…
The AMCU vows to continue with strike
This mor... ››› more
Yesterday marked 14 weeks since members of the Association of Mineworkers and Construction Union (AMCU) downed tools at the world's three top platinum producers. Before the long Easter weekend, the producers tabled a new offer to the AMCU. The producers then took their offer straight to their employees, bypassing the union. Now Lonmin has given employees a deadline to accept or reject the offer. A... ››› more
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