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STOCKS SLIDE 4% AS RETAILER EARNINGS, FED WEIGH
Walmart, Target results show inflation 'is not going to abate anytime soon': Analyst
Sibanye Stillwater Limited (SBSW)
NYSE - Nasdaq Real Time Price. Currency in USD
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Sibanye-Stillwater could offer unions “a back door” to end 10-week gold strike, says CEO
By David McKay - May 17, 2022
To give Sibanye Stillwater their dues, I did send a few of top people a rather harsh message, saying they just have to solve this Union matter or they would lose many shareholders. Even they TOP people responded, which shows me they are not deaf to shareholders.
I guess we’ll have to prove tomorrow that our 4% drop wasn’t SBSW related and only part of a larger market movement
At the company I work, we use a lot of PGMs. In the US, Palladium supply is beginning to dry up.
Sibanye-Stillwater (Tickers JSE: SSW and NYSE: SBSW) is pleased to announce that it has reached a significant milestone on 5 May 2022 at its SA PGM Marikana K4 project, when it hoisted the first tonnes since the resumption of the project.
The Marikana K4 project at the SA PGM operations is a largely pre-developed and equipped, high return project, which will access both the Merensky and UG2 reefs to produce on average, approximately 250,000 4Eoz per annum at steady state over a 50-year life.
Both the main and vertical shafts have been pre-developed and equipped to depths of 1,332m and 1,078m below surface respectively. Associated surface infrastructure is to a large extent in place, with only minor refurbishments required. In addition, the K4 concentrator is already fully operational with a nameplate capacity of approximately 130,000tpm (tonnes per month) of UG2 and Merensky reef.
Marikana K4 project will create significant value for all stakeholders for many decades, providing more than 4,000 direct jobs over its operating life and meaningful opportunities for local businesses, development of small and medium enterprises, as well as ensuring significant local economic development and skills transfer for local communities.
Neal Froneman, CEO, commenting on this milestone, said: “The K4 project is an unrivalled, top tier project in the PGM industry, which will deliver significant value and benefits for all stakeholders for many years. We are investing approximately R4 billion in the future of Marikana through the development of this world-class project, confirming the ongoing commitment to the sustainability of our company and its stakeholders.”
As their latest presentation highlighted, SBSW has outperformed the Gold, PGM and other indexes since listed in 2013. 2013 to 2022, the total return is 402% even at today's price. It has expanded and growth with diversification and quality management. Ii is a stock to hold for the long long term as it is expanding into Li, Cobalt, recycling and other green metals mining with differentiating ESG leadership.
SOUTH AFRICA TAKES AWAY CONTROL OF MINERS UNION BANK DUE TO BAD DECISIONS AND IMPROPER LOANS.
(Bloomberg 5/16/22) -- South Africa placed Ubank Ltd., a lender partly managed by mine workers, under administration.
Finance Minister Enoch Godongwana appointed KPMG South Africa as curator of the bank because of concerns about the lender’s corporate governance, a high number of internal-control weaknesses, and a lack of sufficient capital to ensure the viability of the bank, central bank Governor Lesetja Kganyago told reporters Monday in an online briefing.
Ubank was created more than four decades ago to serve as a savings fund for mine workers. It converted to a commercial bank in the early 1990s and is now owned by a trust that is managed by trustees elected by entities including the National Union of Mineworkers and the Minerals Council of South Africa lobby group, according to its website.
This should go to 29 with over 100% reward.
It seems to me RU sourced Pt & Pd should be included within the scope of Conflict Materials. If this RU incursion into UKR isn't a conflict, then what is? If that happens, that should depress RU Pt & PD exports especially to auto companies and their suppliers filing ESG reports which document the use of conflict materials Ref. "Conflict minerals as defined by the US legislation, currently include the metals tantalum, tin, tungsten and gold."
the market cap is only 8.8 billion, the last time i checked they had
30 billion cash, and how much in assets, stock price is way low.
Do you have to pay foreign income with this stock since its not base in the US?
Looks like a day to either buy some more or not to look at it at all.
I had 3000 shares at $17.82, today I bought 1000 more shares at $10.975, I can't go wrong, this is the best Company of the kind of the all world, the money is there, gold is gold and platinum and the rest too, we must be patient, like Buffet always say: Stocks are the transfer of money from impatients to patients. Good luck long.
Supply/Demand imbalance should push PGM prices
Like to share this with the share holders here, stillwater has become
a big company, they have alot of cash on hand probable more than 30 billion
now, with this market sell off and possible recession brings more opportunity's
for stillwater buying up distressed company's maybe other gold metal company's
with no unions, who knows but with whats happening today could bring tremendous
growth for stillwater and the share holders, they are not worried at all, i bet they got something in in the cooker right now, I think they had enough of africa bs trying to strong
arm them, this is the perfect time for them to sell those mines and get new ones
free of union government control, or just hold out till they give in and
and add more more company's as this is a perfect storm to take advantage of and they know it, what do you guys think, am i right.
just wait and be patient. all gold mines and pgm will mint money. you have to look forward to next year.
Daily Maverick "Sibanye CEO Froneman explains R300m remuneration package"
Ed Stoddard, May 15, 2022.
And as, Timo points out , Froneman says some serious discussion now being had on wages:
'The two sides met last week and Froneman said “it was probably the first constructive meeting where there were engagements you could do something with”. Another meeting is scheduled for this week and he said, “Let’s see.” '
Some interesting info in this article about how Froneman justifies his share incentive bonus, questions the transparency of union leader pay (in robust terms) and describes the need for reducing the gold operation should the company concede to union wage demands.
people are selling this for what? to buy it cheaper. It wont last. buy now and sit and relax. hyperinflation just started.
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