The Evil Diaries: Lonmin and Churchill Mining
An unusual opportunity has arisen at Lonmin (LMI). It is raising circa £300m at 1p per share. The issue is underwritten. Curiously the nil paid (LMIN) stand at 0.03p offer, which, added to the 1p subscription price, gives an all in cost of 1.03p. This contrasts to the 1.25p or so at which the ordinary…