[miningmx.com] – LONMIN had been hit by a perfect storm of conditions including corporate and empowerment problems and a decline in the platinum price, said BDLive citing a report by Liberum Capital.
“In the short term, we do not see how much worse Lonmin’ s situation could get,” Liberum analysts Ben Davis and Richard Knights said.
It listed Lonmin’s problems as a “collapsing platinum price, accusations of tax evasion, a BEE (black economic empowerment) partner with funding shortfalls (and) its largest shareholder looking (to exit )”.
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