Lonmin (LMI) - Recommended all share offer from Sibanye
Long suffering Lonmin shareholders are being put out of their misery by a recommended all share offer by fellow South African Platinum producer Sibanye-Stillwater (SGL-JSE). The terms are 0.967 new Sibanye for each Lonmin. Lonmin shareholders will end up with 11.3% of the enlarged group.Lonmin is engaged in exploring, mining, refining and marketing platinum group metals (PGMs). Platinum is Co.'s principal product. Co.'s mining operations are located on the western limb of the Bushveld Igneous Complex in South Africa. Co. has one operational segment: PGM Operations, which comprises the activities involved in the mining and processing of PGMs, together with associated base metals, which are carried out entirely in South Africa. This segment also includes exploration and evaluation activities involved in the discovery or identification of new PGM deposits and the evaluation through pre-feasibility of the economic viability of newly discovered PGM deposits.
Whitman Howard is an independent institutional stockbroking and investment banking business focused on servicing the needs of our corporate clients and institutional investor base.
The company began trading in 2011 with a team of highly experienced market professionals and the goal of building a leading capital markets business in an entrepreneurial environment.
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