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%

So no one got the 'fish on the hook' in post 73?

It escaped :))

LOL.

I see hooked and upwards. Whats for heading South. lol

There you are Bb fish on the the hook advice, my advice (lol) your going to be worth a fortune.

Just trying to keep up with you DC..... lol

Amplats, majority owned by Anglo American, is to shed 14,000 jobs in South Africa, mothball two mines and put another up for sale.

Two mines in Rustenburg - Khuselka and Khomanani - would be put on long term care and maintenance, while the Union mine would be sold. The company said the plans were vital to save the company.

The decision to cut back follows a drop in the price of platinum and soaring costs. But it could provoke another series of strikes following violent protests last year, even though the company said it hoped to create as many jobs in the area as those lost under the restructuring.

Anglo American, which owns 80% of Amplats, recently announced Mark Cutifani would take over as its chief executive from Cynthia Carroll in April.

Investors seemed to welcome the news, with Anglo American's shares currently 10.5p better at £20.47.

Johnson Matthey - which refines and recycles platinum group metals - added 55p to £22.98 as it said it would consider the implications of Amplats' plans on its relationship with the company. Credit Suisse said:

We calculate a total 15% cut on Amplats production (400koz) will hit [Johnson Matthey] by around £2m due to lower marketing commissions. We believe the net effect on refining will be neutral with less mined volumes (14% inputs) but more recycled product (75% inputs).

But [this will be] offset by positive pricing impacts: A 10% increase in the basket of precious metals has a £8m or so benefit on earnings before interest and tax.

The news has lifted other platinum producers, with Lonmin up 15.9p at 348.5p and Aquarius Platinum adding 7p to 72p.

My 4% gain yesterday gone, taking a rest before the next leg up........i hope.,.

That will be the barb on the hook!

having sold 50% whilst sp was resting and not taking advantage (greedy) of the drop to 316/15p have had to buy back a bit smartish this am with great rns issued.,.

heading for 10% rise this am.,.

don't you just love it when a plan comes together....352p yyyyyeeeeeesssssss!

14% up today..... yyyyyeeeeeehhhhaaaa

Well done, Bb.

next stop £5.,. oh happy days :))

on a bit of a run again.,.

Seems to be holding above the 50 MA as previously noted by Chris Carson for the last two years whenever the sp touched or just went over 50MA it had dropped back. Could this be the start of SP recovery ?

SP Could pick up from here on in
89 SMA now broached [fib prime]
dyor

taking a bit of a rest till the next step up.....£4.,.

On the move again with good production and smelter working overtime. Very happy holding this one.

Lonmin produced total platinum metal in concentrate of 198,428 ounces in the fourth quarter to the end of September - an improvement of 6.4% from the previous three months.

Platinum sales were 288,280 ounces driven by good smelter performance in the quarter after the Number Two furnace forced shut down in Q3.

For the 2013 financial year, the company said it achieved 750,942 ounces of platinum metal in concentrate, the highest amount since 2007.

The company said: "We maintained the overall operational momentum built since the labour disruptions and achieved an impressive performance in the fourth quarter with 3.2 million attributable tonnes being mined reflecting an improvement of 9.5% against Q3 2013.

"This represents an increase of 1.5 million tonnes or 94.0% on the prior year period when production was affected by the labour unrest and Events at Marikana.

"Total tonnes lost in Q4 due to Section 54 safety stoppages, management induced safety stoppages (MISS) and industrial relations issues were 69,000 tonnes less than Q3.

"Momentum was interrupted in August following the fatality at Saffy shaft and the associated safety stoppage but the operations recovered resulting in the exceptional performance."

At 8:01am: (LON:LMI) Lonmin PLC share price was +9.25p at 337.35p