Michael Homem

[LiveSquawk @LiveSquawk]

French HCOB Manufacturing PMI June P: 47.8 (est 49.8; prev 49.8)
- Services PMI: 48.7 (est 49.1; prev 48.9)
- Composite PMI: 48.5 (est 49.3; prev 49.3)

[Gwede Mantashe @GwedeMantashe1]

Draft #MiningCharter published for public comments

We urge members of the public to submit their comments, views and ideas in order to shape the Charter

[Michael Homem @MichaelHomem]

@mining_safrica I thought EXX were trying to move out of coal and diversify? Not buy more. But would be a good buy

[Marco Olevano, CFA @MarcoOlevano]

$JSE $NGPLT New Gold Platinum ETF breaking out of an inverted head & shoulder formation above R112.00. Watch for a second consecutive close above R112.00, breakout targets R118.00, could be a positive development for our Platinum stocks. 200 DMA sits at R120.00

[Gwede Mantashe @GwedeMantashe1]

We are going to invite owners of mining companies that have mines under care & maintenance. We will ask them if they want to use or lose it?

[Gwede Mantashe @GwedeMantashe1]

We will appeal a badly written judgement on the "Once empowered, always empowered". #KZNMiningIndaba

[Michael Homem @MichaelHomem]

Platts source: "The full bench of judges were divided on the declaratory order when it handed down the decision on April 4 and those who were in court believe government lawyers could exploit the rift to get the High Court to overturn the decision."

[Michael Homem @MichaelHomem]

According to Platts internal source: "It is true, there will be a court challenge launched by the government," the source said.
'Once empowered always empowered' ruling will be challenged despite Gwede Mantashes comments that they will not. " #miningcharter #DMR #Chamberof Mines

[Michael Homem @MichaelHomem]

The bar has now been set at 30% BEE, from 26%. The question is, will it stay at that level or increase over time? https://t.co/v2GwKzNpKc

[Gwede Mantashe @GwedeMantashe1]

There was no contestation on the target 30%. Problem was that there was no consultation before gazetting the Charter. We are consulting

[Roy Topol @RoyTopol]

"Viceroy’s founder, Fraser Perring, tells Euromoney he has done further research, not yet made public, on South African firms in mining, pharmaceuticals and health care." @viceroyresearch

https://t.co/1bxHtHFMg2

[Michael Homem @MichaelHomem]

@PCHtrades What triggered the selloff?

[Michael Homem @MichaelHomem]

@Innovate_power The ratio to keep an eye on is Net Debt/EBITDA which is important for debt covenants, currently 2.6x which is manageable but the ZAR at these levels making it difficult to get to their target of 1x.

[Michael Homem @MichaelHomem]

54% No vote to Lonmin deal. A lot tighter than I expected.

[Michael Homem @MichaelHomem]

Will Sibanye-Stillwater get 50% approval from their shareholders required to complete the Lonmin deal? AGM is on 30 May 2018 $SGL $SBGL $LMI $LON $GDX

[Michael Homem @MichaelHomem]

Will Sibanye-Stillwater get 50% approval from their shareholders required to complete the Lonmin deal? $SGL $SBGL $LMI $LON $GDX

[Scapegoat @AndiMakinana]

Just in:

President #Ramaphosa intervenes on the Mining Charter impasse and the Chamber of Mines postpones its court application in respect of the Reviewed Mining Charter.

[Michael Homem @MichaelHomem]

Missing Nico Muller... Impala's gained what Gold Fields has lost, lets see if this comes through at results on 1 March $IMPUY $IMP $GFI https://t.co/DqJQFuZH4L

[Miningmx @miningmx]

Gold Fields boss Nick Holland acknowledges lack of leadership is a key to the repeated failures of South Deep to meet its targets. https://t.co/ujJ1O19U6D

[Michael Homem @MichaelHomem]

Game of spot the similarities...
Gold = Orange
White = Fed Fund rate
Red = Inflation
Yellow = USD
2003-Increasing rates to cool down inflation, strengthened USD, then tanked, gold went up.
Opinion-We entering phase 2 of yellow
Conclusion- Long USD ST, Long Gold LT
$XAU $USD

[Michael Homem @MichaelHomem]

Reminder on proposed retrenchments in mining sector:
Anglogold 8500
Impala 2500
RBP 636
Atlatsa 3600
Sibanye (Beatrix* & Cooke) 7500
Lonmin 12600

*Later lowering by 1640 as Beatrix West is put on 3 month rolling review (Current ZAR price it will be closed)

[Michael Homem @MichaelHomem]

"African Bank Investments were wiped out in 2012 when strikes in South Africa’s platinum industry prevented its customers from repaying their loans. Recent volatility in the mining sector, the introduction of the new mining charter & a massive spike in unsecured credit defaults"