Member Info for 100notout

Well done Ta and Db.
I do agree with parts Rastuss but with regards to the going concern I personally think that is scare mongering tactics from the Board to encourage shareholders to vote in favour of the merger.

Yes, Rastuss I understand that but the mkt cap of £120m is ridiculous. The platinum price is low and has been for sometime but the other PGM's have been quite strong of late. The bp is rising and Lonmin's cost seem to be under control. Maybe the 'levers' they are pulling are finally beginning to materialise. Lonmin can survive far longer than 3 months...

Yes, Whatamess, The takeover is not needed. Lonmin has potential with the right leadership. I think most of us on here could a better job...

I did write on here before that the Spire situation was comparable with Laird. The shenanigans that went on with Laird have been repeated here. Guess who took over Laird if you didn't know already?
The share price has been attacked for a takeover imho...

It was necessary for Lonmin to obtain other means of finance in case the deal fell through. It may be expensive but it doesn't have ridiculous covenants attached which insist that the book value doesn't fall below £1.1bn. The previous conditions were harsh and tenuous to say the least especially for a company thats market value was a fraction of its book value.
Albeit expensive financing it was the right thing to do. If they hadn't Rastuss I would imagine that you would be constantly going on about the covenants if the deal were to fail. You can't now can you?

Considering Lonmin have recently sorted out financing on better terms albeit at a higher interest rate and have managed to bring costs down the share price would be a lot higher than where we are today if we were not tied to SBGL.
The management of Lonmin need to go back and ask for better terms or go it alone... The current mkt cap of £120m is ludicrous... Its quite clear that SBGL strategy has worked by purchasing PGM produces as their gold outfit is struggling. The PGM basket price must be looking a bit better today.

FCA are useless. But in all fairness what can they do if shareholders lend their shares out to be shorted.
Lets say you want to take a company over what will you do. You will get some 'friends' to short it and keep it at a low price until you are ready to put the offer in.

The price rise was probably due to shorters closing positions rather than the Berenberg note. Shorters no doubt will carry on closing their shorts as they will not want to get caught with their trousers down as Spire at its current price is vulnerable to a takeover imho...

To me with a bit of luck...

What are the shareholders (the owners) supposed to get Rastuss? You have some pretty messed up views...

I bet Rastuss is a big fan of that dubious group who call themselves the mining forum of SA. How are Lonmin supposed to pay their 30,000 workforce if the mining licence is suspended? Let alone pay for more houses etc. Apparently they were after salaries from Lonmin but obviously for good reason they told them where to go. In my opinion the only interests they serve is for themselves. Court should fine them and make them pay for costs...

You obviously think short term and that is your prerogative. If you seriously think that the private hospital is intensive care why waste your time here?

It is far to early to say if the Board made the wrong decision with not accepting £3.15. At the moment it would appear that they did as the share price is low but the share price is at these levels because it has been manipulated. The strategy of the Board is not a one year plan, they will be looking at a five year strategy. If the share price is £7.00 in four years the Board made the right decision. It's just a matter of time...

Yes one would have thought that the starting price of a takeover would be north of 225 for SPI. The fall has been exaggerated by the fierce orchestrated shorts. They work on the psychology of the human mind just as say lawyers do. A divorce lawyer won't send a letter at say 10.00am on Friday. They will send three letters at 4.50 on Friday. These organisations work on fear. One has to remind themselves in this case why they choose to invest in SPI in the first place and if those fundamentals haven't changed then why sell for the benefit of the hedge funds.

Yes it is half term but probably the majority have children who have left school already. If that is the case they are not going to want to go away for a holiday when hotels are packed with children are they...

FCA are next to useless. Governments are equally to blame with regards to hedge funds. How much money do the political parties receive from them? They will do nothing apart from when it will affect them i.e. stoping the shorting on banks.
Similarly to you Mulder I was informed of meetings but this has since turned into being told that they are away...
If Mediclinic don't act soon others will imho...

Seems just a matter of when. I have tried to contact certain directors and they are away.
I wonder what they are doing...

# Me too.

Marshall Wace have reduced their short as of the 19 Oct to 1.28%.

Marshall Wace have reduced their short as of 18 Oct to 1.34%.