MARC ELLIOTT INVESTEC
Lonmin took a lot of pain last year and operationally they did brilliantly in these results. The long-term outlook for the firm should be pretty positive, as platinum is an industrial metal, used in the automotive industry. Once supply tightens, metal prices will go up and boost Lonmin further.
NICK HATCH WESTHOUSE SECURITIES
The results were very good and better than the market had given them credit for. The sales figure was higher than recent guidance. But labour tensions are always in the background in South Africa. The larger producers there, American Platinum and Ampala, usually lead the way with union talks.
CAILEY BARKER NUMIS
Lonmin’s full-year results were positive. 751,000 ounces of platinum was produced, up 11 per cent year-on-year and the highest in six years. Sales of 696,000 ounces exceeded 660,000 guidance. Despite the problems encountered this looks like a good finish to the year.