The mining sector is struggling in early trading this morning as platinum giant Lonmin unveiled its ...
The mining sector is struggling in early trading this morning as platinum giant Lonmin unveiled its $457m rights issue. London's blue chip index has opened the week marginally lower, down 12.54 points, or 0.28%, to 4,449.55 at 8.15am. Lonmin is among the heaviest decliners this morning after announcing it will issue 35m shares at 900p apiece in a 2 for 9 rights issue. The cash call comes as Lonmin posted a $196m pre-tax loss in the six months to March 31. Its share price has fallen 4.25% to £15.53 early. Fellow miners Eurasian and Vedanta are also behind, down 3.32% to 656p and 3.07% ...
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