UK 22:13 Thursday, 5 November 2026
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You may think I am mad in tipping Lonmin (LMI) but here goes. Platinum had a terrible year in 2015 when it’s price dropped by around 27% and now sits at just $850 an ounce. The precious metal had already seen a decline to below $1000/oz, but the drop in more recent months can at least in part be attributed to the Volkswagen scandal over emissions from its diesel cars being falsified – that news alone led to a 4% fall on the day it was announced back in September.
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Comments
AbandonHope
“Since then it has indeed had a rights issue at a price of 1p at 46:1 to raise net proceeds of $369 million, and this resulted in the maturity of its debts being extended until May 2010”
Don’t think so somehow.
wildrides
Garys forgotten to put the mosquito net up again ………. nurse ………. Ice pack on Garys forehead please .
Gary Newman
Abandonhope,
Apologies, that was a typo and was actually supposed to read May 2020!
Wildrides,
All comes down to some sort of recovery in commodity prices and I’ve outlined my reasons why i think that platinum will rise from here. In addition we will start to see supply drop off quickly at the current price as higher cost mines close – there are plenty in South Africa that aren’t economic at below even $1000 sort of area.