Comment on Sibanye Stillwater

People have been asking me if I have any comments here

Sibanye Stillwater dipped below my entry price of $4.60 today. As I write this, there is a bid of 164,200 shares (just under $750k) on the bid.

So, to answer your questions.

Am I still bullish?


Why is the stock price falling?

Gold / palladium / platinum price is falling

When will gold / palladium / platinum stop falling?

I have no idea

What will the company do about this?

They started shutting down higher cost shafts / mines months ago

Do they have any balance sheet stress?



Cyclical companies are volatile. That’s just how it is. Either accept it or buy something that’s not volatile but may also carry a higher valuation and provide lower returns. There are a lot of risks in Sibanye. Balance sheet is not currently one of them. Basket pricing for their products and political developments in South Africa are the risks. I am comfortable with these risks.