Good week

Financial Mail - - BETWEEN THE CHAINS BY SIKONATHI MANTSHANTSHA -

Just when some thought Lon­min would be the first casualty of de­pressed plat­inum prices, the share lifted al­most 15% to R12.86 af­ter CEO Ben Ma­gara re­ported “a pleas­ing op­er­a­tional per­for­mance all round . . . even at cur­rent low

PGM prices and a strong rand” in its third quar­ter, thanks in part to cost con­tain­ment. Net cash im­proved, it has com­pleted the pur­chase of its stake in the Pan­dora mine, and is re­build­ing re­la­tions in Marikana — all of which leaves Lon­min in a stronger po­si­tion to se­cure its vi­tal loans.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.