Lonmin is the third largest primary producer of Platinum in the world, producing over 900,000 ounces of Platinum and a similar number of ounces of the other Platinum group metals such as Palladium and Rhodium. Its operations are located in the district of Marikana, near Rustenberg, in the North West Province of South Africa.

            Red = 25 day moving average.           Green = 200 day moving average.

SALES PER ACTIVITY (Data as of 30/09/2005)

Platinum extraction: 100%

A very good rise today after and early morning calm where I managed to get another lot at 83.25p.
Taking advantage of the large rise in Platinum of yesterday and again today

By 12.02pm the order book had signal a better price to come when the UT went to 85p

Looks like we are going to have a good finish, as the order book has just got strong

spread 87.25 v 87.50

DEPTH 56 v 33
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StockMarketWire.com
Lonmin's results for the year to the end of September will be delayed while management concentrates on the operational review announced on 7 Aug.

Lonmin said the objective of the review was to achieve a properly funded viable business plan based on potential disposal proceeds, new debt capital and the continuing support of existing lenders which may include obtaining their consents and waivers of any future potential covenant breaches and disposals.

It said the review, and the potentially significant outcomes, continued to demand management's undivided attention and, as a result, the preparation of the audited full year financial results had been delayed.

The company was due to publish its results on 13 Nov.

In an update, the company said the operating environment remained tough, and it was planning on the basis that it would remain so for the foreseeable future.

It said platinum sales for 2018 were expected to be between 650,000 and 680,000 ounces.

It said unit costs remained under pressure and were expected to be in the range of R12,000 to R12,500 per PGM ounce.

Chief executive Ben Magara said: 'Our principal focus for 2017 was to remain at least cash neutral in line with our short term strategic objective to be able to deal successfully with the continued low PGM pricing environment.

'Given the slow start to the year, we are pleased with the way our mining operations have performed throughout the last three successive quarters to compensate for the poor performance in the first four months of the financial year up to 31 January 2017.

'We have succeeded in making meaningful progress in this tough operating environment, by improving our production performance reducing capital expenditure to the minimum required for the safe and efficient running of operations, and maintaining operational and strategic flexibility.

'Our processing teams continue to deliver exceptional performance.

'Lonmin's Operational Review continues with the primary objective of preserving value for shareholders and safeguarding the long-term interests of employees and all key stakeholders.

'We are pleased with the progress made so far and will report the results to shareholders in due course.'

Lonmin said the mining performance improvement had been sustained from March.

Tonnes mined by its Generation 2 shafts increased for the fourth quarter by 7.5% to 2.3 million tonnes compared with the fourth quarter of 2016, providing a 2.3% improvement for the year to 8.3 million tonnes for the year.

StockMarketWire.com
Mining firm Lonmin (LMI) announced improved revenue on higher platinum group metal prices for the year to 30 September 2017 but a significant pre-tax loss of $1.17bn after a change in its business plan led to a $1.05bn impairment.

In an update on its first quarter to 31 December 2017, reported net cash of $63m reflected a reduction in the historical first quarter cash burn rate and the company revealed a fatality-free operating period.

The company is in the process of merging with Sibanye-Stillwater. Lonmin chief executive Ben Magara says: 'We believe Lonmin has an enviable mine-to-market business with great mining assets, projects and process technology and a resilient workforce.

'Despite this, Lonmin continues to be hamstrung by its capital structure and liquidity constraints. The announced combination with Sibanye-Stillwater will provide a stronger platform for Lonmin's shareholders and allow them and our other stakeholders to benefit from the long-term upside potential of an enlarged and geographically diversified precious metals group.'