Hints and tips:
...“I am pleased with Lonmin’s return to profitability and that we are making a first payment to our Employee Profit Sharing Scheme,” Lonmin chief executive Ben Magara said....
...Shares in Lonmin were unchanged at 53p on Monday....
...South Africa’s Competition Commission has set tough conditions to approve the takeover of ailing platinum miner Lonmin by rival Sibanye-Stillwater....
...Lonmin has been hit hard by soaring costs and weak platinum prices....
...London-listed Lonmin revealed on Monday that its cash position has fallen to $17m in the six months to March from $75m in the same period a year ago....
...The deal to save Lonmin, the struggling platinum producer, is facing another hurdle....
...Lonmin has been hammered by weak platinum prices and rising costs in South Africa....
...Corporate earnings out on Monday include Lonmin, Dignity and Centrica. The economic calendar is also quite brief (all times London): 08.00: Turkey current account balance 08.30: Sweden house prices...
...In December, Lonmin recommended a $285m all-stock offer from Sibanye, an acquisitive South African company....
...Lonmin said it expected to sell 650,000 - 680,000 ounces of platinum this year....
...Yes, but the company [Lonmin] was about to implode,” said Mr Froneman....
...Lonmin pays its employees in rand but receives payments for its metal in the US currency. Shares in Lonmin were down 0.75p at 85.65p....
...Under the terms of the offer Sibanye, a deal-hungry company run by Neal Froneman, is offering Lonmin shareholders 0.967 new Sibanye-Stillwater shares for each Lonmin share....
...Under the terms of the offer, the deal-hungry Sibanye is offering Lonmin shareholders 0.967 new Sibanye-Stillwater shares for each Lonmin share....
...Sibanye’s all-share deal values Lonmin shares at around £1. That is still a healthy 57 per cent premium on Lonmin’s closing price on Wednesday....
...Lonmin says the objective of the review is to come up with a properly funded viable business plan....
...Shares in Lonmin rose more than 20 per cent on the news to trade at 76.75p. Following completion of the acquisition, Lonmin shareholders will own 11.3 per cent of enlarged company....
...Shares in Lonmin rose 9.5p, or 13 per cent, to 83p....
...Sell: Lonmin (LMI) Incredibly, the market was starting to warm to Lonmin prior to its recent update. That bullish assessment looks threadbare, writes Alex Newman....
...The last time the industry suffered a tragedy on a similar scale was in 2012 when South African police fatally shot 34 striking workers outside a mine owned by Lonmin....
...in Lonmin’s mines....
...Shares in troubled platinum miner Lonmin picked up from their recent record lows on Monday morning, as the company reported a “much improved mining performance” in its third quarter....
...Jacob Zuma’s resignation as South Africa’s president has lifted selected miners and Johannesburg dual-listed stocks such as Old Mutual, Lonmin and Glencore....
International Edition