|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||72.60 - 78.80|
|52 Week Range||38.86 - 85.60|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||5.11|
|Earnings Date||Jul 8, 2019 - Jul 12, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.55|
Earlier on Tuesday, Sibanye-Stillwater said 87% of its shareholders backed the all-share offer, which it revised last month to value the struggling Lonmin at 226 million pounds ($286 million), 60 million pounds less than originally proposed. Lonmin was hit hard by the drop in platinum prices and has had to cut spending and jobs in order to retain a positive balance sheet, a condition of Sibanye's proposed offer. Shares in London-listed Lonmin were up 5.2% at 1131 GMT, while Sibanye's were up 5.8%.
(Adds company news items and futures) May 10 (Reuters) - Britain's FTSE 100 index is expected to open 22 points higher at 7,229 on Friday, according to financial bookmakers, while FTSE 100 futures were ...
South Africa's Sibanye-Stillwater will explore changing its primary listing in a bid to access more capital as it explores growth opportunities outside its home market, chief executive Neal Froneman said on Wednesday. The precious metals producer, which has both gold and platinum mines in South Africa and platinum group metals (PGM) operations in the United States, said it was looking into opportunities in gold and the battery metals sectors. "In the future we will probably have to look at our primary listing from the point of view of accessing capital more efficiently and we don't know where that will be," said Froneman on the sidelines of an industry breakfast without providing detail on the listing.
The London-listed company, crippled by soaring costs and subdued platinum prices, has been cutting spending to conserve cash and retain a positive balance sheet required by conditions of South Africa-based Sibanye's offer. AMCU, which has been on strike at Sibanye-Stillwater's gold operations since mid-November, wanted to extend the strike to at least 11 other companies including Anglo American's gold and platinum operations, Harmony Gold and Lonmin.
Platinum miner Lonmin will face protesters at its annual general meeting in London today as its long-drawn out takeover by South African peer Sibanye-Stillwater rumbles on.
Moody's Investors Service ("Moody's") has today downgraded Sibanye Gold Limited's (Sibanye-Stillwater) corporate family rating (CFR) to Ba3 from Ba2 and probability of default rating (PDR) to Ba3-PD from Ba2-PD. Concurrently, the ratings on the senior unsecured notes due in 2022 and 2025 issued by Stillwater Mining Company and guaranteed by Sibanye-Stillwater have been downgraded to Ba3 from Ba2. Today's rating action reflects Moody's view of increasing downside risks for Sibanye-Stillwater's credit profile as a result of challenging operating conditions in South Africa and increasing refinancing risks for the company as its ZAR6 billion revolving credit facility (RCF) matures in November 2019.
Lonmin also said on Thursday it expects Sibanye's deal to close early next year, but cautioned that some uncertainty still exists over its completion, which is subject to certain conditions. Lonmin shares rose as much as 9.3 percent to 47 pence after its results for the year ended September showed an operating profit of $101 million, compared with a more than $1 billion loss a year earlier. The London-listed miner, crippled by soaring costs and subdued platinum prices, has been cutting spending to conserve cash and retain a positive cash balance, one of the conditions upon which South Africa-based Sibanye's takeover is contingent.
Struggling miner Lonmin shored up its finances with a $200 million (£153.1 million) boost from China on Monday as it awaits a rescue takeover by South African rival Sibanye-Stillwater.