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BUZZ-Lonmin: Soars as H1 reassures investors

Mon, 16th May 2016 08:22

** Platinum miner Lonmin's shares up 15 pct, topperformers on FTSE Small Cap index, after reporting H1core profit of $36 mln vs $6 mln loss a year earlier

** Co says cost-cutting ahead of schedule, adds now in netcash position vs net debt at Sept. 30

** "The results reflect considerable progress concerningcost cuts, yet some weakness in operational performance that islargely seasonal and should be caught back," Investec analystswrite in note

** Lonmin's shares fell 96 pct in 2015, hurt by rising costsa prolonged slump in platinum prices, and priced a $400 mlnrights issue at only 1p (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)

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