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Rastuss: I do not think it is a propaganda, that said, i do think Mr Froneman may have struck himself in the foot by pointing to the importance of PGM to their operations/profitability. If this fellow did not know where to hurt him most, he surely now does. In one of your post with market analyst commentaries on the effect of the strike, the commentator concluded that the effect of the strike on SGBL will be minimal because of the relative low weight of gold to their other business.
Who or what is Ruffer.
Can you tell me how many companies have suffered the faith of being taken over and ran by the state of SA and or community unions. A company that is worth over £120M, ceded to some community union, i really cannot see that. Besides, how then do you explain the institutional investors buying Lonmin's shares of late. And for the courts, i see their slowness as being driven by the need to be seen to be independent, detailed and fair
Evidently the state will do; as they have consistently done to date, what it needs to do to get the SA economy growing again. At every stage of the takeover, approval has been given, and i am with no doubt that the appeals will be won eventually. The president is a successful businessman, he knows what it would mean to cave in to union demands.s
This AMCU fellow has repeatedly threatened to extend the strike to the platinum belt, i wonder why he hasn't done that.
The only risk to the takeover is if Frontman gets tired and pulls the plug. AMCU's appeal against the takeover is not enough to torpedo the deal, i don't think the state will allow that union fellow to get away with calling the shot at that level. At any rate, we should know soon when the appeal will be heard
Rastuss,
You are right,, the Lonmin discount is widening. Any idea why.
So what happened to Mr. Mathunjwa appeal against the decision of takeover tribunal panel.
Rastuss thank you.
Sibanye is up 3% again this morning, i wonder what that means. Will soon find out
GLA
What time are we expecting the figures to be published
Rastuss thank you for the link. It looks like everything with Lonmin will remain grounded until the Sibanye strike is resolved.
Things seems to be quiet at Sibanye, i have not seen any news on the effect of strike today. Could be because Sibanye have obtain court order to protect non striking workers.
https://www.fin24.com/Companies/Mining/sibanye-stillwater-obtains-court-interdict-against-unions-20181123
Any thoughts
AND WHAT IS THE MINING FORUM'S INTEREST IN THE TAKEOVER
https://www.businesslive.co.za/bd/companies/mining/2018-10-22-lonmin-and-state-oppose-mining-forums-court-bid-against-takeover/
Appeal not filed yet,
https://www.iol.co.za/business-report/companies/violence-flares-up-at-sibanye-18230614
Just need to work out if Lonmin share price is at a premium or discount to Sibanye at this current level.
i do not know for sure but i would imagine the assets are based in the same region as where the AMCU supposedly rules. Whatever the view, i cannot imagine that the Chinese would want to risk losing or tie down $200 million in an unyielding asset. There must be more to the investment than what is being suggested. I am not in the know and to that extent, i cannot refute anything, but as i said before, time will tell. Hopefully very very soon
The management of Jiangxi Copper Company Limited must see something worthwhile in Lonmin for them to enter into the streaming deal, $200 million loan irrespective of the coupon rate is a lot to put into a region that potentially could implode, thanks to the union's power and might. I guess time will tell
having the deal with the union matters, same way as the issue of health & safety and the death of the miners at the gold mines was sited as a point of reference.
It is a good thing that Sibanye has a deal with the gold miners. surely that is PR gain for Sibanye. Hopefully news will be out next week and we can move all to dealing with the next challenges
Thank you for posting the link to the news. it is as expected, sensibly the Tribunal is trying to address the concerns of stakeholders regarding the potential job losses. What i am more concerned about is the comment of the union leader. can they really stop this happening, do they have the strength and wherewithal to challenge the state. You are obviously quite knowledgeable about the state of things in SA, any thoughts.
Your postulations are so extreme, they verges on the side of absurdities. First the High Court will not deliver a judgement that would effectively make all of the workers redundant & decimating the local economy,. The judge did say that the postponement was to give the parties the opportunity to dialogue. i agree that the president has a chequered history with the miners and unions but i do not see the president abdicating his responsibilities to securing the greater number of jobs that can be saved. The Commission's recommendation is the kind of fudge that government employs on the face of economic realities and political necessity. The point is, approval is given..