Edition:
India

Lonmin PLC (LONJ.J)

LONJ.J on Johannesburg Stock Exchange

842.00ZAc
18 May 2018
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Latest Key Developments (Source: Significant Developments)

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 responds to Mining Forum comments
Thursday, 26 Oct 2017 

Oct 26 (Reuters) - Lonmin Plc :‍NOTES COMMENTS QUOTED IN MEDIA ATTRIBUTED TO MINING FORUM SOUTH AFRICA AND BAPO BA MOGALE INVESTMENTS​."‍A NUMBER OF GROSSLY INCORRECT STATEMENTS HAVE BEEN QUOTED AND REQUIRE CLARITY"​."‍COMPANY'S COMPLIANCE WITH ITS SOCIAL AND LABOUR PLAN (SLP) IS OF ABSOLUTE IMPORTANCE TO LONMIN".‍WILL CONTINUE TO ENGAGE AND REPORT ON ITS SLP ACTION PLAN WITH DMR​.‍WILL CONTINUE TO ENGAGE WITH BAPO BA MOGALE AND ALL OTHER STAKEHOLDERS THROUGH OFFICIAL AND RECOGNISED CHANNELS THAT HAVE BEEN JOINTLY SET UP​."IN CONSULTATION WITH EMPLOYEES ABOUT NEED TO PROTECT EMPLOYMENT OF MAJORITY OF OUR WORKFORCE BY REDUCTION OF SOME 1,139 CONTRACTORS, EMPLOYEES".  Full Article

SA's Solidarity says Lonmin plans to cut 1,139 jobs
Monday, 23 Oct 2017 

Oct 23 (Reuters) - SOUTH AFRICA'S SOLIDARITY::SOUTH AFRICA'S SOLIDARITY - ​ ‍LONMIN HAS INFORMED SOLIDARITY THAT COMPANY IS PLANNING TO REDUCE ITS WORKFORCE BY 1 139 WORKERS BEFORE CHRISTMAS​.SOUTH AFRICA'S SOLIDARITY - ‍LONMIN SAYS THAT PLATINUM SECTOR IS UNDER PRESSURE DUE TO LOW PLATINUM PRICES AND RISING COSTS THAT NECESSITATE RETRENCHMENTS​.  Full Article

lonmin secures $50 mln funding for tailings project
Thursday, 18 Aug 2016 

Lonmin Plc : Lonmin secures $50 million funding for tailings project . First tranche of project funding of $9 million has now been received and work has already started on project . BTT project involves re-mining of Lonmin's easterns tailings dam .Project is part of Lonmin's business plan and is expected to produce lowest cost ounces in lonmin portfolio.  Full Article

Acacia Mining buys minority stake in West Kenya JV from Lonmin
Monday, 1 Aug 2016 

Acacia Mining Plc :Consolidates minority stake in West Kenya JV from Lonmin Plc for $5 million.  Full Article

Lonmin Q3 mined platinum ounces up 3.3 pct to 166,581 ounces
Monday, 1 Aug 2016 

Lonmin Plc : Total of some 243,000 tonnes of production lost in q3 due to section 54 safety stoppages compared to 260,000 tonnes in q3 2015 . Q3 mined platinum ounces up 3.3% to 166,581 . Unit costs for quarter were contained to r10,596 per pgm ounce, a year on year decrease of 2.2% .Expect to achieve platinum sales guidance of 700,000 ounces for year. Capital expenditure guidance remains unchanged at $105 million.  Full Article

PLATINUM WEEK-Sibanye CEO confident of Lonmin takeover despite cash burn

LONDON, May 18 Sibanye-Stillwater is confident its planned purchase of Lonmin will go ahead, but the struggling platinum producer must slow its cash burn, the South African firm's chief executive said.

No consensus analysis data available.