Edition:
United States

Lonmin PLC (LMI.L)

LMI.L on London Stock Exchange

43.90GBp
12 Nov 2018
Change (% chg)

-0.10 (-0.23%)
Prev Close
44.00
Open
42.66
Day's High
44.24
Day's Low
42.66
Volume
72,286
Avg. Vol
400,485
52-wk High
91.80
52-wk Low
36.00

Latest Key Developments (Source: Significant Developments)

Lonmin Undertakes Refinancing, Enters $200 Mln Metal Purchase Agreement
Monday, 22 Oct 2018 02:00am EDT 

Oct 22 (Reuters) - Lonmin PLC ::LONMIN UNDERTAKES REFINANCING.SAYS TO ENTER INTO A US$200 MILLION METAL PURCHASE AGREEMENT WITH PANGAEA INVESTMENTS MANAGEMENT LIMITED.LONMIN PLC - UPFRONT PAYMENT WILL BE AMORTIZED OVER THREE YEARS.LONMIN PLC - FOLLOWING COMPLETION, AND SUBJECT TO SIBANYE-STILLWATER BECOMING A CO-OBLIGOR, PIM WILL RELEASE ALL SECURITY OVER LONMIN'S ASSETS.LONMIN PLC - WILL SETTLE ITS PRE-EXISTING TERM LOAN OF US$150 MILLION AND CANCEL ALL ITS OTHER PRE-EXISTING UNDRAWN FACILITIES.LONMIN PLC - FACILITY COULD ENHANCE LONMIN'S CASH POSITION AS IT REQUIRES ONLY PARTIAL SETTLEMENT OF BETWEEN $60 MILLION AND $80 MILLION UPON COMPLETION.  Full Article

South Africa's Competition Tribunal To Hear Sibanye Gold, Lonmin Merger On Oct. 18, 19
Tuesday, 9 Oct 2018 06:45am EDT 

Oct 9 (Reuters) - SOUTH AFRICA'S COMPETITION TRIBUNAL::DATE SET FOR SIBANYE GOLD LTD AND LONMIN PLC MERGER HEARING.WILL HEAR PROPOSED MERGER BETWEEN SIBANYE GOLD AND LONMIN PLC ON 18 AND 19 OCTOBER 2018.  Full Article

Eric Sprott Buys Wallbridge Mining Shares From Lonmin
Monday, 1 Oct 2018 09:09am EDT 

Oct 1 (Reuters) - Lonmin PLC ::LONMIN PLC - ERIC SPROTT ANNOUNCES HOLDINGS IN WALLBRIDGE MINING.LONMIN PLC - ERIC SPROTT AGREED TO BUY 24 MLN OUTSTANDING COMMON SHARES SHARES OF WALLBRIDGE MINING HELD BY CO.LONMIN PLC - WALLBRIDGE SHARES WERE PURCHASED FROM LONMIN BY ERIC SPROTT AT $0.165 PER SHARE FOR TOTAL CONSIDERATION OF $3,967,077.68.  Full Article

Lonmin Reports Fatal Accident At K3 Shaft
Monday, 1 Oct 2018 05:04am EDT 

Oct 1 (Reuters) - Lonmin PLC ::SAYS DEATH OF TEMBELANI MANYANA, A TEAM LEADER, IN FALL-OF-GROUND ACCIDENT AT CO'S K3 SHAFT ON SEPT. 30.  Full Article

Lonmin Reports 2.6 Mln Total Tonnes Mined During Q3, Down 3.1 Pct
Friday, 27 Jul 2018 03:00am EDT 

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 10:31am EDT 

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 02:00am EDT 

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 05:00am EDT 

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 02:08am EDT 

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 07:06am EST 

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

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 .