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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Lonmin Plc    LMI   GB00BYSRJ698

LONMIN PLC (LMI)
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Real-time Quote. Real-time Cboe Europe - 06/18 01:44:30 pm
44.7 GBp   -4.41%
01:13pLONMIN : Form 8.3 - Lonmin plc
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01:13pLONMIN : Form 8.3 - Sibanye Gold Limited
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12:18pLONMIN : Form 8.5 (EPT/NON-RI)Sibanye Gold Ltd
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Sibanye Dismisses 'Unwarranted' Debt Fears, Backs Lonmin Deal

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05/31/2018 | 01:55pm CEST

By Adam Clark

Sibanye Gold Ltd. (SGL.JO) said on Thursday that its liquidity remains sound and it is assessing options to reduce debt, following a fall in its share price.

The South African gold miner said it believes that a "significant drop" in its share price and market value has been driven by unwarranted concerns over its leverage and its proposed acquisition of Lonmin PLC.

"The group debt maturity profile has been carefully structured, with major debt repayments only due from mid-2022," said Sibanye in a statement.

The miner said it continues to target a net debt to adjusted earnings ratio of 1.0 times, down from 2.4 times at the end of March, but said it has "no intention" of issuing equity in order to reduce its debt.

Sibanye said its most likely financing options is raising up to $500 million via a streaming arrangement, which involves an upfront purchase of future production, or the financing of recycling inventory from its U.S. operations to release $100 million of working capital.

Sibanye also said its proposed acquisition of platinum producer Lonmin is proceeding according to plan, and it remains confident of the rationale for the deal. Sibanye agreed an all-share takeover of Lonmin in December, which at the time was valued at 285 million pounds ($380.1 million).

The deal has subsequently been questioned by analysts due to cash outflows at Lonmin. On Thursday, Sibanye said that mine restructuring and merger synergies will reduce operating costs at Lonmin.

Write to Adam Clark at [email protected]; @AdamDowJones

Stocks mentioned in the article
ChangeLast1st jan.
GOLD -0.11% 1279.36 Delayed Quote.-1.80%
LONMIN PLC -5.91% 7.8 End-of-day quote.-44.56%
LONMIN PLC (ADR) 3.47% 0.6355 Delayed Quote.-45.68%
PLATINUM -0.52% 883.32 Delayed Quote.-4.68%
SIBANYE GOLD LTD 0.00% 8.6 End-of-day quote.-46.28%
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Latest news on LONMIN PLC
01:13pLONMIN : Form 8.3 - Lonmin plc
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01:13pLONMIN : Form 8.3 - Sibanye Gold Limited
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12:18pLONMIN : Form 8.5 (EPT/NON-RI)Sibanye Gold Ltd
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11:58aLONMIN : Form 8.5 (EPT/RI)- Lonmin plc
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11:03aLONMIN : Form 8.5 (EPT/RI) - Sibanye Gold Limited
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10:33aLONMIN : Hsbc Bank Plc - FORM 8.5 EPT/RI) - Lonmin Plc
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06/15LONMIN : Form 8.3 - LONMIN
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06/15LONMIN : Form 8.3 - Lonmin plc
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06/15LONMIN : Form 8.3 - Sibanye Stillwater Ltd
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06/15LONMIN : Form 8.5 (EPT/RI) - Lonmin plc
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News from SeekingAlpha
12:29aDespite Favorable Long-Term Outlook, I Wouldn't Bet On Sibanye In 2018 
05/23LONMIN : Red Flags Persist 
05/18REUTERS : Sibanye CEO confident of Lonmin takeover despite cash burn 
05/15Sibanye-Lonmin deal to face U.K. competition probe 
05/14Lonmin's (LNMIF) CEO Ben Magara on Q2 2018 Results - Earnings Call Transcript 
Financials ($)
Sales 2018 1 237 M
EBIT 2018 -46,8 M
Net income 2018 -49,7 M
Debt 2018 5,16 M
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019
EV / Sales 2018 0,15x
EV / Sales 2019 0,24x
Capitalization 175 M
Chart LONMIN PLC
Duration : Period :
Lonmin Plc Technical Analysis Chart | LMI | GB00BYSRJ698 | 4-Traders
Technical analysis trends LONMIN PLC
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 10
Average target price 0,67 $
Spread / Average Target 7,6%
EPS Revisions
Managers
NameTitle
Bennetor Magara Chief Executive Officer & Executive Director
Brian Richard Beamish Non-Executive Chairman
Barend Johannes van der Merwe Chief Financial Officer & Executive Director
Jonathan Charles Alexander Leslie Senior Independent Director
Varda Shine Independent Non-Executive Director
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