This is apparently correct, they must still be preparing material and in discussions with Goldman, so outreach should start in the next month I'd expect, they seem very circumspect in discussing any firmer timing.
The presentation was interesting, some good points, some not so.
A 90+ year mine life is impressive.
And it will go a long way if the directors step up this time, and for a decent chunk as well.
However, I expect Sibanye were looking at things like an IRR of 15% and a pay-back time of 8 years, and a 3 year build time after FID, and an almost $2 billion capex (given contingencies), and the list of potential risks with the project described at the end of the presentation document today ran for 7 pages, very comprehensive and lengthy, and some of them being quite interesting indeed.
10 cents is an appealing price though, so I'd expect the raise to be successful, and I might add a few myself, after having off-loaded two-thirds my holding at 17 cents some time back. It will be interesting to see if it can hold above 10 cents in the coming 6 months, since given previous experience, I would not expect an announcement on a partner until the end of this year, but probably early in CY 2026.
Gw
INR Price at posting:
11.0¢ Sentiment: None Disclosure: Held
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(20min delay)