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Sibanye Gold SGL is JSE
Sibanye Stillwater is SBGL and is NYSE
ADRs are 4 jse shares converted to dollars
Best to split over jse and nyse
Jse depends on the gbp rate if that falls you gain value on fx conversation
ok, What's ADR? and have you managed to transfer yours?
Yeah...badly burnt! lesson for a new investor!
Have you transferred your LMI shares to Sebanye?
Just spoke to my current broker Share Centre to transfer and they said it's not Sibanye Gold! It's Sibanye Stillwater and it is a new company which will float on JSE on 7th of June so the opening price of shares is unknown!
I missed my window to transfer anyway! It was 2pm today.
Just hope I didn't miss out on a breaking even or profit making opportunity!
I'll be losing £2.5k based on current share price!
I'm on a losing streak for a long time, lost on Carrliioon, Interserve, Debenhams!
quick question everyone.
Just phoned AJ bell and they can trade on JSE and the current share price for SBGL is $3.40 which is around £2.65/share!!! It's a no brainer, unless I'm missing something? Please share your view. And be quick please, I've got 31 minutes before I can transfer!!!
An alternative view to LMI takeover is that many of the existing issues facing LMI will be negated. Future capital requirements may not be as significant due to co location opportunities, it should be possible to manage job reductions (if required and would keep AMCU on side assuming they still exist!) over both sites rather at just LMI, flexibilty in utilising processing assets, SBGL currently outsource some, whilst LMI currently has capacity. The synergies quantified in bid, related primarily overhead functions and not investment, operational mining requirements and asset utilisation synergies. I remain positive that within a year or so that the SBGL/LMI PGM operations will significantly reduce COP ensuring profitability even in a low PT price environment. The combined assets do offer some additional diversity due to the change in make up of PGM basket allowing the combined operations flexibility in managing future metal price changes. I am in an optimistic mood today!
Thank you all for your responses.
I'm not an experience investor and hence still not decided what to do? But If I want to transfer, I need to let my broker know by 14:00pm tomorrow! I'm losing around 50% here!
At this point in time, let us hope that SGBL share's will start rising and one can at least, get a decent price for Lonmin. Somehow i think Lonmin's fate is sealed
Same old negative rubbish as usual. LMI has a brighter future than most other listed companies. There are few companies which don't have debt. LMI has cash and is sitting on top of a PGM mine. One has to look past the short term to see the bigger picture. With regards to being right Rastuss you usually miss the mark by some distance. If you were right you wouldn't be posting the usual domesday scenario right now because according to you LMI would of been bust last year. I will give you full marks for persistence though...
Yes your Lmi shares get replaced by SGL stock
True about the fx charge and you need to be aware of the gbp zar and usd zar rates would cry about the £30 dealing charge though! ??
Japan tools sales very bad so macro imv
Rastuss it has been falling since its high, not close enough to understand reasons fully, just speculating that the reason maybe be more macro than micro!
I had a FTSE350 company with AJ Bell taken over by a Canadian company. When I finally sold the Canadian company it cost me a lot with a dealing charge of £30, FX charges of 1% but worst of all the price I got was about 10% less than they quoted it at, apparently due to the spread. In future I will sell my shares before the takeover.
As to selling at a loss this is probably one of the key lessons novice investors can learn, do not hold on to a loss-making share in the hope that it will recover, they rarely do.
Phone dealing only though! SBGL ADR,s online no problem with A j bell
Aj bell youinvest.co.uk ive dealt on the jse with them
Hi All,
I have received a letter from my broker re the acquisition of Lonmin by Sibanye but it will admitted on Johannesburg SE! (I didn't know about this!).
they have given 3 option as below.
1. Sell the holdings by 30th of May.
2. re-register holdings on my name (they will issue a certificate on my name and I'll have to locate a broker who can
trade on Johannesburg SE.
3. Default option of selling all the holdings if I do not take any actions.
Please can someone share their thoughts and whether it is worth considering option 2 as my average price is around £1.50/share and if i sell them I'll be making a loss!
Has anyone considered option 2 or know of a broker who can trade on Johannesburg SE?
Your response will be highly appreciated.
thanks.
More likely Chinese/US trade war caused correction!
Offers a good potential opportunity given location synergies, but price v benefits would need to be right to convince institutional shareholders, rights issue could be on the cards!
Competition ruling this week so hopefully a boost to SP coming!
Voted against.
Is a joke 120 mill - the $70mill nett cash @ a TNW of 600-700 million $
Its a no deal from me!
Strangely enough there is more negativity here now than ever before. Previously the concerns were the low bp basket price, banking covenants, the furnaces and the potential strikes. Oh and lets not forget the 15p broker target from that fool from Liberum. His vanity must have taken a bit of a knocking too...
There are no banking covenants to worry about, LMI has net cash, potential of Pt to rerate in the next 18 months and a reduced workforce to name a few.
The negativity banded around here will be for someones advantage. My guess would be SGL's. Pretty desperate I would say...
100notout not being sarcastic, unfortunately wish I was. LMI could only survive if PT price rises significantly before long term survival would be assured. Production guidance at lower end of forecast, COP higher than peers by some way, significant investment required to improve grade recovery, to many headwinds in my view to be sustainable as a stand alone company, although new management could turnaround possibly! Completely agree takeover value a bargain but its the only show in town, so still think takeover in best interest of shareholders but frying pan and fire spring to mind!
They are loosing their best middle management! Whom would that be Sithole, Nkosi and Dlamaini?
What bs are you going to come up with next. Really...