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BUZZ-Lonmin: hit by Goldman Sachs downgrade

Reuters - UK Focus

** Platinum miner's shares down 2.7 pct, biggest loser on FTSE 350 Mining Index after Goldman Sachs (NYSE: GS-PB - news) cuts to "sell" from "buy"

** Lonmin "has no balance sheet or asset flexibility and we expect it to be forced to restructure" Goldman analysts say in note

** Goldman also expects platinum market to remain in surplus, depressing prices

** Broker does, however, upgrade Impala to "buy" from "neutral"; reckons co has the asset optionality & financial flexibility to restructure & bring its unit costs down the cost curve (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)