Resilient Lonmin beats guidance, ups cash

November 5, 2017

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The board of platinum mining company Lonmin has decided to extend the date of the publication of its 2017 financial results to afford management the opportunity to give undivided attention to the group’s operational review, which is targeting a viable business plan based on the possible raising of new debt capital, continued lender support and the potential disposal of assets. The company’s decision to extend its reporting date to beyond November 13 coincides with an improved production performance by the resilient London- and Johannesburg-listed company, which has lifted sales for the financial year to September 30 to 706 030 oz, well above guidance of between 650 000 oz and 680 000 oz.

Category: General