Jim Sutcliffe, a non-executive director at Lonmin, more than doubled his stake in the platinum miner yesterday, it confirmed today.
He bought 2,000 shares at 2,761 a share, paying a total of £55,220, and now has 3,712 shares.
Back in March, he bought 1,712 shares at 2,919p a time.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The following month, Lonmin cut its full year platinum sales guidance in line with market expectations to reflect production losses caused by power shortages in South Africa.
Lonmin said it now expects sales of platinum in its current financial year to be around 775,000 ounces. The company had previously indicated in January that it expected to sell around 860,000 ounces this year but downgraded that estimate as a result of power outages in South Africa.
Top Director Buys
Marston's (MARS)
Director name: Mr Derek Andrew
Amount purchased: 50,000 @ 155.80p
Value: £77,900
Lonmin (LMI)
Director name: Mr Jim Sutcliffe
Amount purchased: 2,000 @ 2,761.00p
Value: £55,220
Victoria (VCP)
Director name: Ms Nikki Beckett
Amount purchased: 21,500 @ 234.50p
Value: £50,418
Hansteen Holdings (HSTN)
Director name: Mr Morgan Lewis Jones
Amount purchased: 50,000 @ 85.00p
Value: £42,500
Hansteen Holdings (HSTN)
Director name: Mr Ian Richard Watson
Amount purchased: 50,000 @ 85.00p
Value: £42,500
AssetCo (ASTO)
Director name: Mr Frank Flynn
Amount purchased: 25,000 @ 140.00p
Value: £35,000
Invista European Real Estate Trust (IERE)
Director name: Mr Tom Chandos
Amount purchased: 40,000 @ 81.40p
Value: £32,560
Eurasia Mining (EUA)
Director name: Mr Christian Schaffalitzky
Amount purchased: 950,000 @ 3.30p
Value: £31,350
Hallin Marine Subsea International (HMS)
Director name: Mr Anthony (Tony) Prest
Amount purchased: 20,000 @ 149.00p
Value: £29,800
Twenty (TWE)
Director name: Mr Ian M Lancaster
Amount purchased: 450,000 @ 6.00p
Value: £27,000
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
