Full Year Results 

Lonmin liquidity issues laid bare

Lonmin liquidity issues laid bare

Thank goodness for Sibanye-Stillwater. That’s the only conclusion Lonmin (LMI) investors can really draw from the platinum miner’s long-delayed results for the year to September 2017. Although bankers have agreed to waive the tangible net worth covenants with Sibanye’s takeover offer on the table, significant liquidity issues remain. If the acquirer walks away, the situation could be terminal.

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