|Bid||55.00 x 444900|
|Ask||65.20 x 140500|
|Day's Range||58.00 - 60.40|
|52 Week Range||55.75 - 120.50|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 14, 2018 - May 18, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1.04|
Investors are always looking for growth in small-cap stocks like Lonmin Plc (LSE:LMI), with a market cap of UK£182.22M. However, an important fact which most ignore is: how financially healthyRead More...
When Lonmin Plc Chief Executive Officer Ben Magara announced in December that Sibanye Gold Ltd. had agreed to buy the platinum miner, he was visibly relieved.
Lonmin Plc (LSE:LMI), a metals and mining company based in South Africa, saw a decent share price growth in the teens level on the LSE over the last few months.Read More...
Sibanye Gold Ltd. will consider moving its primary listing to North America from Johannesburg to allow the miner to tap capital in that market and help fund future deals.
South African miner Lonmin (LMI.L) announced a $1.1 billion impairment charge on Monday due to weaker platinum prices and a firmer rand, plunging it deeper into operating losses ahead of its planned takeover by rival Sibanye-Stillwater (SGLJ.J). Sibanye agreed in December to buy Lonmin for about $382 million (274.80 million pounds) to create the world's second-biggest platinum producer to try to ride out depressed prices for the metal. It said it planned to cut a third of Lonmin jobs.
Platinum miner Lonmin (LMI.L) (LONJ.J) has received a further waiver on its debt agreements from its lenders, preventing a default, the South Africa-focused company said on Thursday. London-listed Lonmin, which is being bought by Sibanye-Stillwater (SGLJ.J), has been battling liquidity issues caused by combination of low platinum prices, a strengthening local currency and soaring costs. Lonmin's lenders had granted the company a waiver of compliance with a loan agreement that required its net worth to remain at a minimum of $1.1 billion, the company said.
LONDON/JOHANNESBURG, Dec 14 (Reuters) - South Africa's Sibanye-Stillwater agreed to buy troubled miner Lonmin for about 285 million pounds ($382 million) to create the world's No. 2 platinum producer in a bid to ride out depressed prices for the metal. Sibanye, whose CEO is called "Mr Fix It" for turning his firm from a spin-off with three old mines into a global precious metals player, said it would cut a third of Lonmin's employees and deliver savings of about $112 million a year by 2021. Lonmin, the world's third biggest platinum producer, has burned through $1.6 billion in cash which was raised from investors since platinum prices plunged 60 percent from their peak in 2008.
European shares lagged their U.S. peers and closed in negative territory on Thursday, as a busy day of central bank meetings failed to provide momentum even though the European Central Bank raised its growth and inflation forecasts. Europe's STOXX 600 ended the day down 0.46 percent, while U.S. stocks climbed higher in morning trading, boosted by news that a long-awaited tax cutting bill should face final votes in Congress before the year-end. "The only reason for U.S. stocks to overperform today is the hope of a tax reform", said Nicolas Cheron, head of research at Binck, adding that investors were typically cautious at this time of the year before often heading into a "Christmas rally".
Britain's top share index slipped on Thursday, weighed down by losses among financial stocks, while miner Lonmin soared after a rescue takeover bid. The FTSE index fell 0.46 percent to 7,462 points, with scarce impact from the Bank of England's decision to keep benchmark interest rates on hold. The decision was widely expected, with the economy slowing amid uncertainty over the country's exit from the European Union.
LONDON/JOHANNESBURG (Reuters) - South Africa's Sibanye-Stillwater agreed to buy troubled miner Lonmin for about 285 million pounds to create the world's No. 2 platinum producer in a bid to ride out depressed prices for the metal. Sibanye, whose CEO is called "Mr Fix It" for turning his firm from a spin-off with three old mines into a global precious metals player, said it would cut a third of Lonmin's employees and deliver savings of about $112 million (£83.4 million) a year by 2021. Lonmin, the world's third biggest platinum producer, has burned through $1.6 billion in cash which was raised from investors since platinum prices plunged 60 percent from their peak in 2008.
LONDON (Reuters) - Retaining jobs has to be a priority following Sibanye-Stillwater's (SGLJ.J) takeover of platinum producer Lonmin (LMI.L) (LONJ.J), the South African mining minister said on Thursday. ...
JOHANNESBURG (Reuters) - South Africa-focused miner Lonmin has sufficient liquidity until precious metal group Sibanye-Stillwater concludes a $382 million (£284.2 million) takeover, the London-listed firm's ...
Sibanye Gold Ltd. plans to buy Lonmin Plc, marking the end of the smallest and most financially stressed of the world’s three biggest platinum miners.
JOHANNESBURG/LONDON (Reuters) - Troubled platinum producer Lonmin plans to cut spending on social and labour projects and freeze "non-critical" recruitment, part of an array of measures to save cash, according to an unpublished presentation reviewed by Reuters. The South African miner, not for the first time, is facing an uncertain future after earlier this month delaying annual financial results pending conclusion of a business review, a move that sent its shares down 30 percent in a single day. In the presentation to stakeholders earlier this month, the company signaled it would stop all discretionary spending and save 250 million rand ($18.3 million) via energy and water initiatives.
Workers employed by Lonmin's (LMI.L) community shareholder Bapo Ba Mogale are protesting that they have not been fully paid, causing minor disruption at two of the platinum miner's shafts, the South African-focused firm said on Thursday. Lonmin, grappling with soaring costs and low platinum prices, briefly shut the two shafts earlier this year when community members held protests to demand jobs. "We are experiencing minimal challenges as some buses to our E2 and E3 shafts are running later than usual," said Lonmin spokeswoman Wendy Tlou.
Every day, Lonmin Plc sends thousands of miners hundreds of meters below ground, where they use drills, diggers and explosives to extract about 40,000 metric tons of rock laden with precious metals.
South African stocks ended higher on Monday with Lonmin in the spotlight amid growing concerns about the future of the platinum miner. Lonmin's share price plunged on Friday after it delayed its financial results because it could not give a specific figure for the impact of an ongoing business review. Its shares, which are also listed in London, slumped a further 6 percent to 13.28 rand on Monday, bringing the cumulative decline to just over 32 percent since the start of Friday.
The threat of a strike in South Africa put renewed pressure on Lonmin (LMI.L) on Monday as Chief Executive Ben Magara sought to reassure investors that the platinum miner's underlying business was robust. The South African firm, not for the first time, faces an uncertain future in the wake of a 30 percent plunge in its share price on Friday after it delayed annual financial results because it could not yet give a specific figure for the impact of an ongoing business review. "There is no risk of closure," Magara told Reuters on Monday, adding that the disposals of non-core greenfield projects and downstream processing capacity were on the table.
MOOINOOI, South Africa (Reuters) - Skilled workers could go on strike at Lonmin (LMI.L) (LONJ.J) as early as next month in a union recognition dispute, South African trade union Solidarity told Reuters ...
MOOINOOI, South Africa (Reuters) - Lonmin (LMI.L)(LONJ.J) has adequate liquidity and is not at risk of closure, the platinum mining company's chief executive told Reuters on Monday. "There is no risk ...