The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Whatamess - Unfortunately for Rastuss his or hers vanity has been knocked as LMI are still going and should continue to build its cash pile in the second half. I have picked up a few more today as this price seems far too low... Some holders must surely vote against this deal now.
Rastuss - They made a loss of $32m for the first half of 2018 yet made a profit for the year. Did you not notice they have net cash of over $70m. I was under the impression that you thought LMI would not be in a net cash position at this point. LMI are still operational and will be in years to come. I am happy to hold LMI and wait for the inevitable rise in Pt.
Davde - I agree that LMI should be making more money but lets not forget the first half is traditionally the weakest. I wouldn't call $70m profit for 6 months marginally profitable for a company that is valued at £185m. I presume you are being sarcastic...
The last thing that LMI needs is this takeover from SGL. What LMI needs is a new Board...
According to Reuters LMI tumbled down 6.1% due to a revision. So they will probably be on a PE ratio of 3 instead of 1. How many other mining companies are valued as lowly as LMI...
Marginally profitable when they should be raking it in, to me this reinforces need for takeover, sooner the better in my view!
Rastuss agree conditionals high and I am aware of Jabba's track record! All mining is impacted by metal prices and yes investment in other PGM producers could be more beneficial but we will see!
The Board are useless. They couldn't even organise a piss up in a brewery. Like I have said before they should be making the current mkt cap of circa £200m in profits. The problem is in todays market is that the bankers want to throw huge sums of money at the likes of Uber which are loosing billions. Its a bloody joke...
The tone is depressingly downbeat, it is no surprise that morale is very low and the associated costs to such an atmosphere is evidenced by the increase in cost guidance. The impending takeover and a board that have quite clearly lost an interest in the company is the problem.
Rastuss - I am afraid you are wrong yet again, for the sake of your vanity you must look at the facts. LMI have made a profit and have net cash. The LMI Board have as previously thought painted the bleakest picture they possibly could in order for the SGL takeover to succeed. Transparent idiots...
Rastuss agree not profit but the underlying figures look not too bad if you take view gold will get back on track, agree risk there, the pgm operations are understated and guidance remains same. Also agree SBGL figures need careful examination as they are always well spun! My rationale re dividend is assuming PT talks have good outcome and and no production losses then SBGL will have cash and he will pare down debt, but Jabba wants to restore dividends asap firstly to keep Institutional investors happy and make them more relaxed so secondly making further acquisitions (funded by placing/rights issue, not by debt) easier as he the builds empire. Jabba's strategy is sound and he needs luck re metals pricing cycle! He has not made a major mistake yet we know about and luck on his side and institutions like dividends! Would not be surprised if he makes further
major acquisitions next year if he thinks deal good to be had and it could be any metal anywhere!
Will be taken aback if LMI results good, tomorrow will tell!
Not a bad set of results for SBGL, the underlying profitability is good in PGM operations and no change.in guidance for these. Re gold operations we will need to wait and see. Still think they will declare a dividend at year end assuming not to much turbulence with PT negotiations! For LMI tomorrow it maybe a different story but tend to agree with other posters BoD will dramatise position!
Good show cannot wait, interesting the mention of takeover as they had no need to do so! I was thinking marginally profitable but maybe worse! We will see soon, discount rate circa 2%!
I think you all know how I will be voting!
These are due out in next couple of weeks 14th last year. Given the March update said they were still expecting high COP to persist of 14,795 zar, unless the PGM bp has increased significantly above first Q of 15,384 zar then at best they will be marginally profitable! Institutional investors may decide a shotgun wedding better than no wedding! We will find out soon enough.
Whatamess - I agree, its rather disappointing to make one's advantage for others misfortune especially when lives are potentially at stake. The problem here is that LMI is yet again being punished for no fault of its own. The share price would have been at the very least double where it is right now if the Board hadn't got us into this terrible marriage with SGL.
Looks like they are being taken out safely and no injuries reported so all good hopefully.
Last quote in this article is the most telling, article trying to exaggerate situation in my view, yes Uncle Joe could create havoc but unlikely he will, political noise yes, but he will comply with rules in the end otherwise he will be in deep doo doo! Sooner election over the better!
AMCU should comply with their own constitution. A statement saying they will do so with timescales, will end the matter! Any other course of action, in my view looks like you have something to hide! Lets see the accounts Uncle Joe your members will be interested and if there is nothing to hide why fight it!
Another interesting week ahead I suspect, as election counts down!
Rastuss it may take longer and it will be noisy! Uncle Joe may have a credibility issue with membershi, if he is not squeaky clean. Even the cadre that support him may waiver! We will get a feel for it sooner rather than later, he has a lot of options the question is what route he takes, that will be informative, if he had sense he would be asking his lawyers about his personal liabilties and culpabilities!
Interesting response from Uncle Joe he is clearly rattled! I had not appreciated his actions re pension funds last year and it reminds me of a certain "Captain Bob"! Hopefully resolved quickly as think Uncle Joe now on thin ice!
He certainly has lost face on this one imho he is a opportunist socialist Marxist after all
Sure Uncle Joe will be defiant! Still think the bait has been taken by EFF as this move is politics by Cyril who must be confident of outcome given timing, we will see!
Yeah right Neil lol
Good interview here:
https://www.youtube.com/watch?v=-3BDdvlJiBA
Rastuss it will be interesting, if Uncle Joe has any weakness e.g. salary/benefits/nepotism he will be dumped, its now overtly political, EFF have taken bait!
Amplats definitely a better investment a year ago, think they peaking in terms of sp. SBGL probably has more potential now!