StockMarketWire.com - Lonmin shares slumped badly after the company announced production losses due to recent strikes.

Following the dismissal of workers involved in illegal industrial action at its Karee mines in South Africa, Lonmin has largely completed the process of recruiting new employees and production has resumed. The unprotected industrial action at Karee followed a period of poor safety in March and April, which had resulted in lost production in these months.

Lonmin had expected to recapture this lost production during the second half of the 2011 financial year. A large portion of this catch up would have come from Karee. Management has now completed an assessment of the impact on production of the industrial action taking into account the disruptive effect the action had on the business as a whole and the need to restore normal operations while being cognisant of the heightened safety risk associated with the restart.

The company has concluded that full year sales guidance will be negatively impacted by around 30,000 platinum ounces. Consequently, Lonmin is reducing its full year guidance for the year ended 30 September 2011 to sales of around 720,000 platinum ounces.

Unit costs will be negatively impacted due to the lower production, and the guidance of an 8% increase in unit costs for the full year will be exceeded.

Angel Mining has raised £2,182,000, before expenses, through the placing of 109,100,000 new ordinary shares at 2p apiece.

Angel Mining - a gold and zinc/lead mining company with two active mining projects in Greenland- says the proceeds will enable it to:

* Continue to progress the construction of the cable car connecting the mine entrance to the mine camp at the Black Angel zinc/lead mine.

The lower terminal at the mine camp has been completed and good progress is being made on the construction of the upper terminal for the main entrance.

* Expand production at 100% owned Nalunaq gold mine, which had its first gold pour following final commissioning of the processing plant on 27 May and is targeting an optimal production rate of 24,000 oz per annum during the second half of this year.

* Provide general working capital for the company.

Minera IRL Limited the Latin American focused gold mining, development and exploration company, welcomes statements from the newly elected government confirming that the current economic model in Peru will be maintained and extended in order to improve the economic well-being of the communities in the countryside.

"We believe that Peru will maintain its exceptional economic growth and continue to be an important focus of investment in Latin America." said Courtney Chamberlain, Executive Chairman of Minera IRL Limited. "We have consolidated exceptional opportunities in South America and are well funded to continue the advancement of these as quickly as practical."

Minera IRL will continue with its stated business plan of operating the successful Gold Mine Corihuarmi and the pre-feasibility study at its flagship Ollachea Project, both in Peru, as well as the Don Nicolįs feasibility in Patagonia, Argentina. The Company also has a very active, plus US$10 million exploration program in Peru and Argentina. Nearly 1,000 Peruvian investors are shareholders in Minera IRL. At 4:07pm:

(LON:AMI) American Investment Trust share price was -14.25p at 501.75p

(LON:AQP) Aquarius Platinum share price was -12.05p at 328.05p

(LON:BEM) share price was -1.25p at 41.5p

(LON:BKY) share price was +2p at 28p

(LON:CEY) Centamin Egypt Ld share price was -1.85p at 119.15p

(LON:CHL) share price was -2p at 48p

(LON:CZA) share price was +0.63p at 76.13p

(LON:EGU) European Goldfields share price was +5p at 752.5p

(LON:FDI) Firestone Diamonds share price was +0.75p at 31.5p

(LON:FRES) share price was -33.5p at 1383.5p

(LON:GEMD) share price was -3.75p at 265.25p

(LON:HOC) share price was -3.75p at 484.25p

(LON:KMR) Kenmare Resources share price was -0.85p at 45.65p

(LON:LMI) Lonmin share price was -82.5p at 1461.5p

(LON:VED) Vedanta Resources share price was -66p at 1978p



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