Bright interims, better output lift Lonmin share price

The share price of platinum mining company Lonmin rose sharply on Monday on net cash generation, higher platinum sales and the expectation of platinum demand from the automotive and chemical sectors remaining firm. Lonmin’s share price rose 17.57% to R42.56 a share in early JSE trade after Lonmin CEO Ben Magara reported that net debt of $185-million at end September had given way to $114-million cash after capital expenditure (capex) as at March 31.