Higher prices for a basket of Lonmin's metals and a weaker South African rand helped the London-listed miner to an annual pre-tax profit in 2018, its first since 2013.
Ivanhoe can now finance Kakula and Kipushi mine to commercial production, and significantly advance, or achieve, production at the company’s Platreef Project in South Africa.
Moves gives Aussie miner access to the Moose River gold complex in Nova Scotia, Canada, which comprises one producing open-pit and three other development projects.
The company recorded net income of $3.3m on $36m in revenue during the past quarter, compared with a net loss of $3.5m on $37m in revenue during the year-ago quarter.
Sailingstone, its second biggest investor, flagged its vote in an open letter last month, citing governance issues and the board's lack of engagement with minority investors.