Regular readers will know that we have been bullish on Lonmin in recent months, see blog posts here or the tab to the right –
http://www.spreadbetmagazine.com/blog/lonmin-looks-to-be-gearing-up-for-an-assault-on-300p-another.html
http://www.spreadbetmagazine.com/blog/heavy-take-up-of-lonmin-rights-looks-like-it-could-be-the-sq.html
http://www.spreadbetmagazine.com/blog/risk-free-profit-opportunity-in-lonmin.html
Soc Gen must be living in a parallel universe or their “anal”yst is short sighted and omits zero’s after his numbers. Look at this here by Mr Shukla!!!
It absolutely amazes me how these guys remain in a job. How on earth can the numbnut stick out a Sell recommendation when the stock was trading slightly below tangible book, the major investors supported the rights issue, the platinum price continues to improve and capacity is being taken out in the industry. And not just any old Sell call but one with a price target of 38p!!! Beggars belief…
I am also absolutely thankful that the investment community continues to be riddled with such patently useless excuses for “anal”ysts as it continues to presents us with opportunity to profit and assisted us in delivering a 120% return on our Titan Macro fund!
I guess these guys here also are sat scratching their heads at the price action in Lonmin given their short positions. SBM wins again!
Here’s our position in the stock –