PLATINUM PRODUCTION
Lonmin shares rocket 42%, but are still down on the year
20 July 2017 - 06:03
Platinum miner Lonmin’s share price gained as much as 14% on Wednesday, extending a three-day rally that has returned some of the market value it has lost in 2017. On Monday, Lonmin posted improved production figures for its third quarter, safeguarding it from a potential breach of a loan covenant with lenders. At the close of the market on Wednesday, Lonmin’s share price was 10.2% higher at R15.98 — a gain of 42.68% for the week, but it is still down 32% for 2017. The JSE’s platinum index has fallen 3.25% for the year.
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