Morning Mumble: LGO's common-sense, Court Transcripts...& blaming the Chinese

I'll get to the mining section and Anglo's clear attempts to start the 'sales process for the wonderful platinum assets' that guidance is reduced a mere 7-10% pending which way you turn your screen. They do add the 'caveat' that his guidance for production may change. Sorry to say, but if that strike continues the guidance will reduce exponentially as feedstock is massively reduced. If AAL could get rid of the crap they'd be laughing...

First and foremost was the categorical and absolute events announced by  Leni Oil & Gas Update, whom omitted to point out their first appeal had been refused. As per Mediterean Oil & Gas's announcement that LGO strangely forgot to mention 'when they were considering an appeal' that the first appeal attempt had been refused...3-0 MOG, and perhaps even some compensation as well save for LGO being wise to agree not to appeal on the basis no further monies are sort? Surely common-sense?

For clarity, I have some spreadbet's Longs in LGO, purely based on Trindad and for no other reason, there was not an investment case in my view without this. Albeit long-term shareholders will now be some 75% underwater. Its makes for an interesting read if you compare the production rates of Spain with the 'revenue's and the correlate that with the price of oil at the time, or say 3 months after from 2008 onwards. Either way, its no wonder there were issues with the sale.

So on to the title, I am led to believe by Ian has done what he said in terms of contributing and applied for the court transcripts for LGO. So Ian you're now formerly compelled to get your arse into gear and produce an Eastender's worthy edition. We have a bet of a case of Hendricks or a Case of Bolly on whether he does or does not, either way, I'll be happy! This is not for an investment case more some drama, we all love a bit of drama, albeit I'm led to believe they're not pretty for certain individuals. 

Kenmare Resources gave an Interim Management Statement update to day, and it's 'not as bad as expected' (depending on whom you read), but certainly not worth a rush to buy "yet." Things appear more bullish and they're actually selling what they mine / produce, I can hear the cheers already. Perhaps the Iofina holders may realise that when producing something sales are essential, their current cash situation implies they are not selling at a viable rate that covers the costs/interest payments. (I'll perhaps cover the rumours in due course.) 

So, as the Broker's point out and I eluded to awhile back, one would be wise to await the figures from Tronox. There's a strong argument for some higher risks monies in Kenmare now and maybe increasing as the news flow proves more beneficial to their set up. So for the first time in years, I'm not negative on Kenmare, but the moaners and misguided risk assessors best wait for a better headwind in the sector. 

Now Centamin Egypt's market update appears that all their problems are solved. Now from a common-sense perspective, if the powers at be have stopped parties being able to challenge Government Contracts/Licenses etc in this way, what other means are there? My concern for CEY is that this problem won't just disappear but turn into a different issue, alas the company is doing well, and at 61 pence ish, longer term it might just bode well for the "long-only" brigade...why you didn' buy in the 30's 40's I'll never know.

The Chinese Government are getting involved in the Commodities prices. I'm starting to sound like my In Laws in America that blame the Chinese for everything, however this is more noteworthy rather than whom shot who! The Chinese Government are in essence buying bonded commodities, whether they're being tipped out the back door at a "small loss" is to be seen but one would imagine so with the amount of "second hand fire sales around at the moment." 

Nickel and Copper reacted positively to Reuters news flow (albeit it has been known for some time). What parties should note is, with more of this 'transparency' around the stockpiling, it does bode well for the longer term. So, in the interim and the Chinese action, it would be wise to have some longs in Commodities such as Copper and Nickel, as China attempts to allegedly take advantage of lower prices; the question for me is, when they have never informed the market of much before why tell them now? Could it be to stave of a house of cards for the Chinese Banks promoted to provide finance via security of "Copper etc..." (aka the bonded element? Some very good trades in copper coming up for those inclined to do the obvious...

With Facebook and Apple, for the first time I took a conviction to long both stocks, most in part due to how facebook use is transforming and how Apple's figures were underpinned by Arm. Quite surprised, but I would not say I'm fully conversant with playing with the big boys! 

Finally, adding a caveat of "BS", its rumoured that IOF are considering a delisting to sort the issues out, raise funds via the larger shareholders and come back with water permitting and the like sorted. In reality it would make common-sense, assuming one has significant enough backers to get the situation resolved quickly. Perhaps even start selling inventory? 

Atb Fraser