Good Afternoon,
The market has finally woken up to the large short courtesy of Glencore (GLEN) with a drop of near 40% drop in any LMI value that was there. LMI at this rate will be a penny dreadful. Today, LMI has hit the target price for EMC to close short positions and review. EMC LMI GLEN Short. One expects photos of certain analysts eating their hats as the price went sub 115 pence!
Connaughty (poor I know) FCA statement (Connaught Statement). and finally, something useful for even the most savvy of analysts getting the country of operations wrong. Listed AIM Companies main country of operation and incorporation (LSE)
Atb Fraser.
Fraser- Niiiice call re LMI- they have been forced to issue an update, which isn't entirely positive. Some day LMI will be a Buy but GLEN really need to slot their stake first. The chart looks horrid from around £3 a year ago- then again they have many issues stacked up against them so good luck to any remaining LMI longs.
ReplyDeletehttp://www.investegate.co.uk/lonmin-plc--lmi-/rns/operational-update/201503101350140616H/
Cheers. The Leggie