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Reuters reported Lonmin (LSE:LMI) asked shareholders to support an $817 million cash call, saying without a balanced budget the company will be more vulnerable to Xstrata (LSE:XTA).
Reuters reported Lonmin (LSE:LMI) asked shareholders to support an $817 million cash call, saying without a balanced budget the company will be more vulnerable to Xstrata (LSE:XTA).
As quoted in the market news:
Lonmin, at the center of a wave of South African mine strikes that left dozens dead, last week detailed a discounted rights issue aimed at repairing its balance sheet, meeting conditions set by its lenders as debt swells, and funding a recovery.