I hope in time Sibanye can leverage expertise they have into the business and put pressure on Patrick to focus on the New Century Mine. He’s failed to provide clarity regarding operation of the Jameson Cell etc. It may just be the case that this is a very operationally challenging business but from where I’m sitting we’d benefit from a focus on operations at New Century and give the market confidence that new cap raises will definitely not be required anytime soon. Is Patrick the right man for the job? Is this job big enough for him or does he need to be leading a diversified multinational like BHP or RIO? Sort out operations, stop hedging below market rates and stop hitting up shareholders for cash then we might stand a chance of getting out of the teens. I hope Sibanye light a fire under these guys.
NCZ Price at posting:
$1.90 Sentiment: Hold Disclosure: Held
