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If they are in takeover discussions they will not be able to buy shares...

Rastuss, do you really think that SGL would still want to takeover LMI if the bp was low. Likewise if LMI hadn't got out of the covenant situation it is conceivable that SGL would have negotiated a discount to the previous offer. Make no mistake Jabba is a hard nosed dealer. Look at how he is handling AMCU. He would have treated the LMI board with less respect. If the current Board had any balls they would back out. Having said that it may well be taken out of their hands... Jabba knows what LMI is worth to him. SGL need LMI more than LMI need SGL now... He is not having my shares.

Yes, I agree Ta but if LMI were not aligned to SGL the share price would be considerably higher. Under the present circumstance LMI are being taken over at a huge discount rather than a premium. LMI are in a much better position now than they were this time last year. SGL then offered 100. With all the positives that have occurred in the last year the offer is way out of kilter. The LMI board are in a precarious position right now as the offer is not in the best interests of the shareholders. They need to consider this position very wisely...

Maybe there are others out there who see it as I do...

Well there are a few things up in the air but I doubt the courts would rule against LMI as it really is not in the interests of S.A. Petrozim money is not yet in but will be in this new financial year which will go straight on to the profit line as the asset was valued at zero. So $22m profit for not even getting the shovels out...
As we both know LMI has the potential to skyrocket if the PGM's carry on up and the Rand stays where it is or weakens. There are a few if's but I believe LMI could pull through... As you are probably aware I am not keen with the current management. They need to go as they have had their heads buried in the sand and been weak. These points are Ali imho...

It has been a year since the announcement of the takeover offer by SGL. The LMI price is lower pre offer despite the fact that the covenants are no longer an issue, the bp of PGM's have increased and lets not forget they made $100m.
Shareholders should vote against the offer as it does not reflect a fair offer. SGL should be offering at the very least 3 SGL shares for every LMI share. As Rastuss previously pointed out the offer was no more than a I year option. SGL would have pulled out if it suited them. This is a horrendous deal for LMI shareholders.
Don't forget the proceeds from the Petrozim sale is pure profit and if things are potentially as bad as the directors are pointing out its rather strange that they haven't sold off other non core assets. IMHO the directors if they are intelligent enough to realise are now in a precarious situation and are walking on eggshells...

Good to see some new funds coming on board Ta. Makes it more interesting don't you think?

Rastuss - LMI is up 1.8p when it goes up 25p I would say that is sharply higher. I am not to concerned about the court cases as LMI will not be shut down as it employs to many people. SA can't afford it, you know the potential consequences...
I hear that Papa Smurf is getting geared up with his little merry Smurfs so it could get quite interesting at LMI.

It's being controlled. Somebody doesn't want to let it go up. I wonder who that could be...

Well I still think LMI should go it alone. If LMI weren't aligned with SGL the share price would be triple the current price and that would be the start. Yesterdays rewards for the directors is the writing on the wall. I don't trust them. They should be sacked as they seem to be self interested and they have bitten the hand that has fed them. A decent team could make LMI back into a £1b + company.

Who to the Mongolian monkeys or the directors? The directors would probably think its a telephone...

Yes there are quite a few decent candidates there Rastuss... Choices, choices, choices.

A huddle of blind monkey's from Mongolia could have got Lonmin cash positive with the current bp. Yes, Rastuss is probably having a heart attack as I am in agreement on this occasion, probably something to do with the festive season...

Absolutely taking the p**s... What the hell have they done to be rewarded so handsomely. They should be absolutely ashamed to be rewarding themselves with so many shares after they have pi**ed away billions. It's bordering on the criminal... I am all for rewarding those who achieve but this is absurd.

While LMI near ATL... Ridiculous.

Issued overnight on SPI today. Onwards and upwards...

Thanks Ta - I better get off down to the scrap yard and pick up some old exhausts in that case...

Don't you think pt is a better bet than pd Ta?

LMI has hard assets... Its probably on the lowest pe ratio out there.
This time last year virtually all brokers were saying LMI would break its banking covenants, have another rights issue and be unprofitable. Goes to show what a bunch of muppets these brokers are doesn't it..

Yes Dimi - I wonder who that could be! Does it ring any bells because I am sure that somebody on this board knows everything...