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Member Info for lemmink


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Member Since: Sun, 20th Sep 2009

Number of Share Chat Posts (all time): 1,075
Number of Share Chat Posts (last 30 days): 16

Last Posted: Today 12:46


Post Distribution over the last 30 days




Today 12:46

Not sure I have calculated (guessed) the TERP correctly?
Today 12:43

Bought 10k @ 75.3589 p each ... holding 80k (30k in Isa) ... possibly feeling over confident but I think / feel that its a given now that this will be trading over 90p imminently ... because that is roughly what the rights issue generated net of issue costs and progress updates are satisfactory and the share price has changed direction significantly ... so I think a rational / reasonable market would treat 90p as a "safe floor" with gross RI costs (£1)and the TERP (£1.20) as a more serious price range to explore.
Tue 12:43

Limit orders expiring 14/03/16 set to buy 5k @ 65p(non Isa) and 60p(Isa) ... holding 70k (40k non isa & 30k Isa)
Mon 13:27

possibly about 63p ish, thanks, hope you are doing well ... lunch break over .. GL
Mon 13:09

Bought 15k @ 68.515 p ... holding 70k ... possibly being a bit greedy?
Sun 22:10

Taken from the annual report for the year ended 30/09/15 *

Page 9 :- Pie chart analysing revenue of $1,293 million and where it went ... 52% was paid to employees 43% to Suppliers 5% to others. *
Page 131:- Income Statement ... shows underlying EBITDA of $21 million *
Page 134:- Cash Flow Statement ... shows cash flow from operations of $15 million *

*** COMMENT ***
Ignoring massive impairments etc, Lonmin broke even for the year. Shortly after the period it did a rights issue injecting circa $370 million cash to the balance sheet, which may have restored the group to a state of underlying profitability or cash generation to some extent? ... Subsequent platinum price movements (platinum accounting for circa 60% of revenue?) and changes in the USD/ZAR exchange rate will be impacting on underlying financial performance, but I do not know to what extent (or if positive or negative !!) ... The group has also made changes to its business operations and staffing levels fairly recently.
Fri 13:08

Bought 15k @ 63.77 p each (inc dealing costs) [to ISA] ... holding 55k (30k isa) ... suddenly feeling a little sick!
29 Jan '16

... starts now!
28 Jan '16

Book value is in $ so equity is approx. £3 a share ... which looks nice ... but I think the main issue is cash flow being neutral or negative? ... The RI was relatively large at 90p a share in current structure terms, with the TERP at approx. £1.20 by my calcs.
28 Jan '16

Bought 15k @ 60.78 ish p each ... holding 40k ... Watching the game yesterday was painful for me, but it feels like a safeish position today?? I hope!


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