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Lonmin PLC (LMI.L)

LMI.L on London Stock Exchange

46.00GBp
6:57pm IST
Change (% chg)

-0.80 (-1.71%)
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46.80
Open
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Volume
389,785
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510,152
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109.50
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36.00

Latest Key Developments (Source: Significant Developments)

Lonmin Reports 2.6 Mln Total Tonnes Mined During Q3, Down 3.1 Pct
Friday, 27 Jul 2018 

July 27 (Reuters) - Lonmin Plc ::2.6 MILLION TOTAL TONNES MINED DURING Q3, DECREASED BY 3.1 PCT YEAR ON YEAR.UNIT COSTS REDUCED BY 11.5 PCT TO R11,781 PER PGM OUNCE IN Q3.PGM SALES INCREASED BY 2 PCT TO 352,128 OUNCES FOR QUARTER AND PLATINUM SALES OF 176,121 DECREASED BY 2.3 PCT .MAINTAIN OUR FULL-YEAR SALES GUIDANCE OF 650,000 TO 680,000 PLATINUM OUNCES.MAINTAINS GUIDANCE FOR UNIT COSTS AT UPPER END OF R12,000-R12,500 PER PGM OUNCE RANGE FOR FULL YEAR.MAINTAINING REVISED CAPITAL EXPENDITURE GUIDANCE FOR CURRENT YEAR TO BETWEEN R1.2 BILLION AND R1.3 BILLION.PROPOSED ACQUISITION BY SIBANYE-STILLWATER ON TARGET TO CLOSE IN SECOND HALF OF THIS YEAR.  Full Article

Lonmin To Sell 50 Pct Stake In Petrozim For $14.8 Mln
Friday, 29 Jun 2018 

June 29 (Reuters) - Lonmin PLC ::LONMIN PLC TO SELL ITS 50% INTEREST IN PETROZIM.TO SELL ITS 50% INTEREST IN PETROZIM.DEAL FOR GROSS CASH CONSIDERATION OF USD14,750,000.STANDARD BANK OF SOUTH AFRICA HAS ACTED AS FINANCIAL ADVISER TO LONMIN IN RELATION TO TRANSACTION.LONMIN WILL RECEIVE USD8 MILLION IN FORM OF SPECIAL DIVIDENDS FROM PETROZIM.TRANSACTION FORMS PART OF LONMIN'S ONGOING PROGRAMME TO DISPOSE OF NON-CORE ASSETS.PURCHASE PRICE AND SPECIAL DIVIDENDS WILL BE PAID IN CASH ON COMPLETION OF TRANSACTION AND WILL BE USED TO IMPROVE COMPANY'S LIQUIDITY.SUBJECT TO FULFILMENT OF CONDITIONS PRECEDENT, DEAL IS EXPECTED TO COMPLETE IN Q4 OF FY2018.  Full Article

UK's CMA Says Decided Not To Refer Acquisition By Sibanye Gold Ltd Of Lonmin PLC To Phase 2 Investigation
Thursday, 28 Jun 2018 

June 28 (Reuters) - UK's CMA::DECIDED NOT TO REFER ACQUISITION BY SIBANYE GOLD LIMITED OF LONMIN PLC TO A PHASE 2 INVESTIGATION.  Full Article

Sibanye-Stillwater Receives South African Reserve Bank Approval For Acquisition Of Lonmin
Tuesday, 15 May 2018 

May 15 (Reuters) - SIBANYE-STILLWATER - :SIBANYE-STILLWATER RECEIVES SOUTH AFRICAN RESERVE BANK APPROVAL FOR PROPOSED ACQUISITION OF LONMIN.PROPOSED TRANSACTION REMAINS SCHEDULED FOR CLOSURE DURING SECOND CALENDAR HALF OF 2018.  Full Article

Lonmin Says Q2 Overall Total Tonnes Mined Decreased By 4.6%
Monday, 14 May 2018 

May 14 (Reuters) - Lonmin PLC ::QTRLY TONNES MINED FROM GENERATION 2 SHAFTS WERE 1.7 MILLION TONNES, AN INCREASE OF 1.5%..QTRLY OVERALL TOTAL TONNES MINED DECREASED BY 4.6% TO 2.2 MILLION TONNES.QTRLY PLATINUM PRODUCTION (METALS-IN-CONCENTRATE) WAS 143,374 OUNCES, AN INCREASE OF 3.9% ON PRIOR YEAR PERIOD.QTRLY PGM PRODUCTION (METALS-IN-CONCENTRATE) WAS 274,941 OUNCES, AN INCREASE OF 3.5% ON PRIOR YEAR PERIOD.UNIT COST FOR QUARTER WAS R13,308 PER PGM OUNCE, 12.4% HIGHER THAN PRIOR YEAR PERIOD.UNIT COSTS ARE ANTICIPATED TO IMPROVE DURING H2 2018 TO WITHIN UPPER END OF GUIDANCE RANGE.SECTION 189 PROCESS COMMENCED, RESULTING IN 1,993 EMPLOYEES AND CONTRACTORS BEING IMPACTED DURING YEAR, OF 3,700 JOBS EXPECTED TO BE IMPACTED IN CURRENT YEAR.  Full Article

Lonmin Updates on Impairment and Waiver
Thursday, 18 Jan 2018 

Jan 18 (Reuters) - Lonmin Plc ::LONMIN - ‍HAS OBTAINED AGREEMENT FROM LENDERS FOR FURTHER WAIVER OF COMPLIANCE WITH CONSOLIDATED TANGIBLE NET WORTH DEBT COVENANTS UNTIL EARLIER OF OFFER CLOSING​.LONMIN - SEES ‍IMPAIRMENT TO REDUCE GROUP'S CONSOLIDATED TANGIBLE NET WORTH SIGNIFICANTLY BELOW $1.10 BILLION MINIMUM REQUIRED UNDER DEBT COVENANTS.LONMIN - ‍DETERMINATION OF NON-CASH IMPAIRMENT TO CARRYING VALUE OF GROUP'S ASSETS FOR YEAR ENDED 30 SEPTEMBER 2017 IS SUBSTANTIALLY COMPLETE​.  Full Article

Revised Sibanye-Stillwater Business Plan Could Affect A Further 890 Staff
Thursday, 14 Dec 2017 

Dec 14 (Reuters) - Lonmin Plc ::LONMIN TO PUBLISH ANNUAL FINANCIAL STATEMENTS IN JANUARY 2018- SIBANYE PRESENTANTION.SIBANYE SAYS EXPECTS COMPETITION CLEARANCE TO BE OBTAINED IN H2 2018.LONMIN SHAREHOLDER APPROVAL AND COURT MEETING EXPECTED IN H2 2018.SIBANYE-STILLWATER SHAREHOLDER APPROVAL EXPECTED IN H2 2018.LONMIN CEO SAYS BELIEVES OFFER IS IN THE BEST INTERESTS OF LONMIN, LONMIN SHAREHOLDERS AND OTHER STAKEHOLDERS.LONMIN CEO SAYS LONMIN CONTINUES TO BE HAMSTRUNG BY LIQUIDITY CONCERNS.SIBANYE-STILLWATER REVISED MINE PLAN SEES JOB CUTS OF APPROX 12,600 EMPLOYEES OVER THREE YEARS AS LONMIN GENERATION ONE SHAFTS REACH END OF LIFE.REVISED SIBANYE-STILLWATER BUSINESS PLAN COULD AFFECT A FURTHER 890 STAFF.  Full Article

Sibanye-Stillwater proposes to acquire Lonmin in deal valued at 285 mln pounds
Thursday, 14 Dec 2017 

Dec 14 (Reuters) - Sibanye-Stillwater ::‍PROPOSED ACQUISITION OF LONMIN BY SIBANYE-STILLWATER​.‍EXPECTS TRANSACTION TO BE NET ASSET VALUE ACCRETIVE ON CLOSING, EARNINGS AND CASH FLOW ACCRETIVE IN RESPECT OF SIBANYE-STILLWATER SHARES FROM 2021​.‍UNDER TERMS OF OFFER EACH LONMIN SHAREHOLDER WILL BE ENTITLED TO RECEIVE FOR EACH LONMIN SHARE 0.967 NEW SIBANYE-STILLWATER SHARES​.‍EACH LONMIN SHAREHOLDER WILL BE ENTITLED TO RECEIVE FOR EACH LONMIN SHARE 0.967 NEW SIBANYE-STILLWATER SHARES​.‍OFFER VALUES EACH LONMIN SHARE AT 86.3 PENCE AND REPRESENTS PREMIUM OF ABOUT 35 PCT TO CLOSING PRICE PER LONMIN SHARE OF 63.8 PENCE ON 13 DEC 2017​.REALISED R550 MILLION/ANNUM IN ANNUALISED OPERATIONAL SYNERGIES AS AT 30 JUNE 2017, SEES R1 BILLION OF ANNUALISED SYNERGIES BY 2018​.‍IDENTIFIED EXPECTED TOTAL PRE-TAX RUN-RATE SYNERGIES OF APPROXIMATELY R1,500 MILLION BY 2021​.‍ESTIMATES IMPLEMENTATION OF OVERHEAD SYNERGIES WOULD GIVE RISE TO EXPECTED ONE-OFF COSTS OF R80 MILLION, HEADCOUNT REDUCTION OF ABOUT 700​.‍IMPLEMENTATION OF PROCESSING SYNERGIES WOULD GIVE RISE TO EXPECTED ONE-OFF COSTS OF APPROXIMATELY R1,000 MILLION​.‍ASIDE FROM ONE-OFF COSTS REFERRED, DOES NOT EXPECT ANY MATERIAL DIS-SYNERGIES TO ARISE IN CONNECTION WITH ACQUISITION​.LONMIN BELIEVES IF LOW PGM PRICES PERSIST, REGARDLESS OF ACQUISITION IMPLEMENTED, POTENTIALLY IN EXCESS OF 12,000 JOBS IN LONMIN WOULD BE AT RISK OVER NEXT 3 YRS.  Full Article

Lonmin Says Completes Acquisition Of Pandora ​
Wednesday, 13 Dec 2017 

Dec 13 (Reuters) - Lonmin Plc ::‍Lonmin Completes Acquisition Of Pandora ​.  Full Article

Lonmin's FY sales of 706,030 platinum ounces above co's guidance
Friday, 3 Nov 2017 

Nov 3 (Reuters) - Lonmin Plc ::LONMIN PLC - ‍SALES OF 218,687 PLATINUM OUNCES FOR Q4 INCREASED BY 3.6% ON Q4 OF 2016​.‍UNIT COSTS FOR Q4 WERE R11,524 PER PGM OUNCE (6E BASIS), AN INCREASE OF 4.3% ON Q4 OF 2016​.LONMIN PLC - ‍SALES FOR YEAR WERE 706,030 PLATINUM OUNCES, EXCEEDING SALES GUIDANCE OF 650,000 TO 680,000 PLATINUM OUNCES​.LONMIN PLC - ‍UNIT COSTS FOR QUARTER R11,524 PER PGM OUNCE, A YOY INCREASE OF 4.3%, WITHIN REVISED GUIDANCE OF BETWEEN R11,300- R11,800​.LONMIN PLC - ‍FOR YEAR, UNIT COSTS INCREASED BY 8.9% TO R11,701 PER PGM OUNCE​.LONMIN PLC - ‍PLATINUM SALES EXPECTED TO BE BETWEEN 650,000 AND 680,000 OUNCES FOR FY 2018​.LONMIN PLC - ‍UNIT COSTS REMAIN UNDER PRESSURE AND ARE EXPECTED TO BE IN RANGE OF R12,000 TO R12,500 PER PGM OUNCE IN FY 2018​.LONMIN PLC - ‍CAPEX ANTICIPATED TO BE LIMITED TO A RANGE OF R1.4 BILLION TO R1.5 BILLION FOR EACH OF YEARS ENDING 30 SEPTEMBER 2018, 2019 AND 2020​.  Full Article

Lonmin's largest shareholder backs takeover by Sibanye-Stillwater

LONDON South Africa's Public Investment Corporation (PIC) said it will support a takeover of platinum producer Lonmin by precious metals producer Sibanye-Stillwater .