Lonmin taking a beating
28 August 2015 - 10:00
Lonmin , the worst performer on the London Stock Exchange All-Share Index this year, is still losing money at spot platinum-group metals prices even as it cuts spending and closes unprofitable operations. Lonmin's year-to-date cash costs were R10499 an ounce in July and will stay below its own R10800 forecast for the rest of the year, it said yesterday. Revenues are at R9473/ounce.Analysts said Lonmin remained significantly cash-flow negative. ..
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