onedb1
09 Nov 2017
Little update took a small Long at 65p once it bounced off support and an oversold RSI No advice intended , its risky , I have a stop and if l lose I lose . Its part of being a trader .
onedb1
08 Nov 2017
Re: Stopped out Hi RipAt the moment RSI is at 33ish getting oversold , without looking at potential support levels my thinking is that if this does not fall beyond a value of 26 on the RSI and does not form a lower low RSI we may possible get a Bullish divergence .( divergence being Higher low on RSI yet price is giving a lower low.) Previous low with 65.75 reached 26 RSI , now at 65 we have 33. Risky but if it finds support at 65 or even just below it, we may be at a turning point. Tomorrow's price action gets interesting . Lets see if buyers come back on board. As for Palladium it had a great day touching 1021 ! But if my EWs count is correct it may correct now doing a ABC . Potentially only to the 990s so still very high levels and good for Lonmin Platinum good day in the $930s and Rand stuck in the 14.1s usually rallies to 14.22 over night . Pattern that I have noticed of late. Still well above the last quarter 13.17 of the last reported quarter. Just wish we had that impairment issue sorted . This will matter more than any divergence or other TA issue .
Ripley94
08 Nov 2017
Re: Stopped out Put in another limit buy order in @ 65p .. lifted @ 16.35 must of been in the auction period lowest of day i think.
onedb1
08 Nov 2017
Palladium $1010 ! Rallying Whilst the equity gets beaten up the underlying PGMs (especially Palladium are looking great) Ok Platinum could do with going over $1000 too but given the devaluing Rand its good news Quarter on quarter we have had improving cash flows and I am expecting another improvement. So this CEO better deliver some cost cuts and no significant impairment . I can't imagine what old holders must be feeling . Hoping this bases for those in . But at least the underling deltas are not tanking . That is a big positive .
onedb1
07 Nov 2017
Re: Found support today Jey am not in for now ! but if the review is positive or ok , this will rebound to 100p in no time . Its found support after the bearish drop ! Are bears exhausted for now ? I got stopped and dropped all my profits pretty much , I was disappointed must say . I am extremely competitive and totally dedicated so when I make an error I really hate myself lol ! I even went for some rare pints on Friday ! The trick worked as I shrugged the disappointment off quickly ! Plus with strong Brent am enjoying the improvement in my portfolio . Must say I enjoyed the pints ! But they taste better when I win .
forwardloop
07 Nov 2017
shares reverse early gains as CEO tries to reassure investors Share [link] Plc (LON:LMI) shares fell following earlier gains after comments intended to reassure investors.The miner lost almost a third of its value on Friday after delaying annual results amid an ongoing business review.READ: Lonmin plunges as miner delays full-year accounts while it finishes operational reviewChief executive Ben Magara, speaking at a ceremony in South Africa, claimed that “underlying operations are continuing to perform very well”.Lonmin shares rose 3.74% to trade at 74.69p in early trading but fell 2.08% in the afternoon session to 70.50p.Delayed resultsBack in August, Lonmin announced plans to slash costs amid concerns about the platinum mining industry in South Africa.Given that the review “continues to demand management’s undivided” attention, the group said it would “not be appropriate” to publish its annual results on November 13 as previously planned.Although the preparation of the accounts is ongoing, Lonmin said initial indications are that its tangible net worth at the financial year-end would be around US$1.1bn, which would potentially leave it in breach of one of its covenants.The company managed to get its lenders to postpone testing the covenant on September 30, although talks are ongoing about what will happen further down the line. The outcome of those discussions could have a “material bearing” on the preparation of the full-year report.
jey80
06 Nov 2017
Re: Found support today Onedb1- just be careful.
shugg1e
06 Nov 2017
Re: Found support today more likely to settle in mid to low 60s again for a while if the results have no shocks
onedb1
06 Nov 2017
Found support today Was surprised as when one sells or is stopped there is always that sneaky willingness to see it go further down and buy back cheaper. But it found support , posting a classic doji candle stick , signalling market indecision but certainly not another dark candle ie not another bearish one . The negatives we know . But the positives are once again a good strong Palladium value over $1000 today , Platinum up at $930 ( I remain bullish so long as these equity markets are rallying and corporates booming) and Rand is above 14.1/14.2 levels . 1 point above the average of last quarter. Its significant IMO Its a plus that the CEO had/or is having presentations today ( they should sell the trophy vanity assets though , give back to the community ) I sense that a lot of bad PR comes from those sources who have a vested interest . THat was BASF's concern too As we know the cash loans remain untouched so far . So they must have been doing well enough in the past 2 quarters and the current one should be even better and follow the trend . Cash levels are about half the market cap of Lonmin without adding the loaned value ,so liquidity can't be an issueI would like to recommit but want to see the review results too. Commodities and PGMs are rallying this pm ! Will be interesting.
Nice to Michu
06 Nov 2017
Re: Ben to be speaking today Interesting piece crystalbank. Thanks for posting. Government meddling is one of my biggest concerns here...I sold down 60% of my position here last week and I'm hoping to not sell anymore now but am going to watch how things play out for a few months before looking to buy back in to any meaningful extent.. My instinct is that there is a lot of politiking going on here in and around radical strategic changes that management want to effect and not publisihing accounts may help as many as possible of the desired changes have best chance of being allowed happen by government, unions, shareholders etc.....What Ben M says today might push this back up a bit but that likely won't tempt me back in ..What would tempt me back in, ironically, is if it went into 50's p but i'd only buy a small amount then but perhaps bigger again in 40's p .. I'd be surprised if it goes into 50's p and very surprised if goes into 40's p though..I still think this business is very slowly and painfully turning itself around as opposed to dying.. but there is of course a chance that it could still in some shape or form die, alas. This share again shows itself to be for hard core players only.
Nice to Michu
06 Nov 2017
Re: Ben to be speaking today Interesting piece crystalbank. Thanks for posting. Government meddling is one of my biggest concerns here...I sold down 60% of my position here last week and I'm hoping to not sell anymore now but am going to watch how things play out for a few months before looking to buy back in to any meaningful extent.. My instinct is that there is a lot of politiking going on here in and around radical strategic changes that management want to effect and not publisihing accounts may help as many as possible of the desired changes have best chance of being allowed happen by government, unions, shareholders etc.....What Ben M says today might push this back up a bit but that likely won't tempt me back in ..What would tempt me back in, ironically, is if it went into 50's p but i'd only buy a small amount then but perhaps bigger again in 40's p .. I'd be surprised if it goes into 50's p and very surprised if goes into 40's p though..I still think this business is very slowly and painfully turning itself around as opposed to dying.. but there is of course a chance that it could still in some shape or form die, alas. This share again shows itself to be for hard core players only.
Nice to Michu
06 Nov 2017
Re: Ben to be speaking today Interesting piece crystalbank. Thanks for posting. Government meddling is one of my biggest concerns here...I sold down 60% of my position here last week and I'm hoping to not sell anymore now but am going to watch how things play out for a few months before looking to buy back in to any meaningful extent.. My instinct is that there is a lot of politiking going on here in and around radical strategic changes that management want to effect and not publisihing accounts may help as many as possible of the desired changes have best chance of being allowed happen by government, unions, shareholders etc.....What Ben M says today might push this back up a bit but that likely won't tempt me back in ..What would tempt me back in, ironically, is if it went into 50's p but i'd only buy a small amount then but perhaps bigger again in 40's p .. I'd be surprised if it goes into 50's p and very surprised if goes into 40's p though..I still think this business is very slowly and painfully turning itself around as opposed to dying.. but there is of course a chance that it could still in some shape or form die, alas. This share again shows itself to be for hard core players only.
shugg1e
06 Nov 2017
keep well clear for now Until the picture is clearer best to keep well clear of this much more downside potential than upside after last weeks warning.If they try to raise more funds it could tank back to 5p then another 1 for 100 FFS!!!!.Avoid I am just glad i got out with about 400 quid profit at 84p
Crystalbank67
06 Nov 2017
Re: Ben to be speaking today Lonmin’s shares slid 30 percent on Friday* Company will unveil social projects on Monday* Company has fallen short in the past on its social obligations* Lonmin has a history of being pulled from crisisEd StoddardJOHANNESBURG, Nov 5 (Reuters) - Embattled London and Johannesburg-listed platinum producer Lonmin will unveil new health and road projects in South Africa on Monday in a ceremony that will be overshadowed by its latest share price collapse.Lonmin, not for the first time, is facing an uncertain future after its shares lost 30 percent on Friday when it delayed annual financial results due this month pending the conclusion of a business review.The company said it had adequate liquidity to fund it through a review that could include the sale of assets, job cuts and the renegotiation of loan agreements.There has also been speculation about a deal to combine with fellow South African miner Sibanye-StillwaterLonmin, one of the world’s top platinum producers, has been in the doldrums for years due to low prices and soaring costs and has been to shareholders for rights issues to shore up its balance sheet three times since 2009.Investors have not been rewarded for their support. Lonmin’s share price the past five years is down 97 percent.Monday’s ceremony will be held at Lonmin’s plush conference centre and game farm, a location that sets it up for a potential public relations “own goal” as the trade union Solidarity has urged the company to sell as it moves to cut over 1,100 jobs.“It is insensitive to retrench mine workers ... whilst enjoying the luxury of a game farm,” Lonmin General Secretary Gideon du Plessis said.It will at least offer Chief Executive Ben Magara a platform to deliver his first public comments since Friday’s meltdown.SOCIAL OBLIGATIONSThe latest crisis comes after Lonmin said in September that South Africa’s mines ministry had informed it of failure to meet some of its social and labour obligations, but it did not think its operating licence was in jeopardy.South African mining companies must comply with a number of social and labour regulations, including providing proper housing, to help a mostly black labour force that was exploited and ill-treated under apartheid.Lonmin has fallen short here before. A probe into the police killing of 34 miners in 2012 during a violent wildcat strike at its Marikana mine found Lonmin had failed in its pledge to build 5,500 houses, with only three erected.On Monday, the company plans to show how it is now meeting its social and labour obligations, an added cost in a tough environment for all platinum producers.According to South Africa’s Chamber of Mines, 65 percent of the country’s platinum operations are loss-making as the industry grapples with soaring costs and depressed prices.Those that are performing well - such as African Rainbow Minerals and Implats’ Two Rivers JV and Anglo American Platinum’s Mogalakwena mine - are mechanised, shielding them from steeply rising wage costs and giving them productivity boosts.Lonmin several years ago abandoned a failed and costly attempt at mechanisation in the face of an unforgiving geology - one of many missteps that have cost it in the long run.On a range of fronts, Lonmin is battling. It posted a first-half operating loss of $181 million, knocked by a fall in production and rising costs.The company last month agreed a pre-emptive loan covenant waiver for the period from September 30, 2017 to March 30, 2018. The waiver was to prevent a breach and allow the company to acquire the Pandora JV from Amplats and Northern Platinum .The loans comprise a $150 million term loan and revolving credit facilities totalling $70.8 million from international banks. The loans are committed until May 2019, with a one year extension option. (Additional reporting by Tessa Welsh in London; Editing by Keith Weir)
Crystalbank67
06 Nov 2017
Ben to be speaking today [link]
