[miningmx.com] – LONMIN is considering a sales of its shares in order to refinance nearly $600m in debt and was heartened by the successful rights issue of rival Impala Platinum, said Bloomberg News citing two people familiar with the situation.
Shares in the company have been volatile but gained 34% in London on October 7 amid confidence generated by Impala’s R4bn rights offer, issued at a 12.7% discount, and the purchase of platinum mines by Sibanye Gold, the newswire said.
“We are unable to comment on market speculation, but as we have said previously the company is working very hard on strategic, operational and financial plans which will protect shareholder and stakeholder value and stabilise the environment going forward,” James Clark, a spokesman Lonmin, said by e-mail in response to Bloomberg questions.
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