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Author Topic: Sibanye (SGL)  (Read 18753 times)

jaDEB

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Sibanye (SGL)
« on: February 17, 2014, 05:22:06 pm »
Sibanye Gold declares significant increase in mineral reserves

Sibanye Gold Limited
Incorporated in the Republic of South Africa
Registration number 2002/031431/06
Share code: SGL
ISIN – ZAE000173951
Issuer code: SGL
(“Sibanye Gold” or “the Company”)

SIBANYE GOLD DECLARES SIGNIFICANT INCREASE IN MINERAL RESERVES

Westonaria, 17 February 2014: Sibanye Gold Limited (JSE: SGL &
NYSE: SBGL) is pleased to advise stakeholders that at 31 December
2013, its economically extractable gold Mineral Reserves have
increased by 46% to 19.73Moz (net of 1.48Moz depleted from mining
in 2013). This increase in Mineral Reserves will significantly
enhance and extend Sibanye Gold’s Life of Mine (LOM) production
profile. All of the declared Mineral Reserves are above current
infrastructure.
The Mineral Resources and Mineral Reserves, have been      revised
taking into account, inter alia, lower operating costs,   improved
efficiencies and improved mining quality factors           at its
operations.    This follows significant restructuring     and the
implementation of a new operating model.
Highlights include:
  -   Capex maintained at approximately R3-R3.5 billion per annum.
  -   Successful results from the economic and technical
      assessment of previously unmined areas.
  -   A maiden gold and uranium Mineral Resource declared at Beisa
      Reef Section at the Beatrix West Section.
  -   Positive results from the pre-feasibility study on the West
      Rand Tailings Retreatment Project and the Driefontein 1
      Shaft Pillar extraction project.


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jaDEB

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jaDEB

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Re: Sibanye (SGL)
« Reply #1 on: February 17, 2014, 05:41:06 pm »
I know, I know .....   luckily our HAR is doing some stuff..   :wall:  :wall:
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Neil

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Re: Sibanye (SGL)
« Reply #2 on: February 17, 2014, 06:01:26 pm »
the gold mining industry in south africa is a twilight industry (not rosy and limited future).

also gold has very limited industrial usage eg: jewelry and electronics. the primary reason gold goes up/down is because it is method of storing wealth (and a poor one at that, gold does not generate an income) it is seen as a safe haven for protecting wealth, thats why when any market goes down (by a fair margin) gold rises, its also the reason why gold did so well during the great recession of 2008, investors sold equity for safe haven gold. but the global economy is improving hence why gold is down now from previous highs.

I wouldnt buy gold companies. the only mining company I own is anglo american, because I got it at a good price, good turn-around strategy, and because resource prices will generally improve as the global economy improves hence demand is higher.
« Last Edit: February 18, 2014, 04:18:11 pm by Neil »
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Disclaimer:The views/opinions expressed in this post are that of the writer and are not to be interpreted as advice, nor as a indication to buy/sell any investment or equity. The writer will not be held liable for any profit or loss resulting from reading of this post by the reader in any form.

aae

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Re: Sibanye (SGL)
« Reply #3 on: February 17, 2014, 09:04:04 pm »
I started buying sgl at 12 as they had potential to get to 16 and went through steel ball stuff when they got to 8,5,  but bought more , stripped my moer when they got back to 9 as that was my cost then and sold as the loss had given me nightmares, so just wanted to get out, but bought most back at 9.5.

I think they are above value at current prices for their return in the next few years and there should be a correction , but then they have hit a momentum that I hope my exwife, I still live with will have in bed tonight.

Todays sens will just send them higher, But what are the market expectations.

Their results are out on the 20th I think, They will not warrant their current price. But then that is not the way the market works.

I am just gratefull I bought one of the momentum shares.
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jaDEB

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Re: Sibanye (SGL)
« Reply #4 on: February 18, 2014, 08:22:40 am »
@ aae "that I hope my exwife, I still live with will have in bed tonight."   :LHST:  :LHST:

@  griffin "Now I plan on doubling up to reach my new projected SP. Check the size of your b@lls before doing this lol "

 ??? , checked my b@lls, they are smaller than the anti depression tablets I have to take. Not that they are small, just that the tablets are huge. attached is graphs for my own use, got the trigger on my finger....
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jaDEB

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jaDEB

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Re: Sibanye (SGL)
« Reply #5 on: February 20, 2014, 10:37:03 am »
JOHANNESBURG (Reuters) - South African-focused bullion producer Sibanye Gold reported a 19 percent rise in operating profit for the six months to the end of December, despite a fall in the precious metal's spot price, as it reigned in costs and ramped up output.

The Gold Fields' spin-off, created last year, also approved a maiden final dividend of 75 cents per share for the period, resulting in a total dividend of 112 cents in 2013 and bringing its dividend yield to 5.5 percent based on its closing share price on Tuesday.

Sibanye has positioned itself as a company with mature assets that can generate solid dividends.

Production increased by 18 percent to 773,600 ounces over the period, which also saw a 15 percent decline in the average gold price compared with the previous six months.

But a weaker local currency meant that in rand terms the average bullion price was only 7 percent lower.

Total cash costs fell 10 percent from the previous six months to $804 an ounce.

Sibanye has cut costs by, among other things, trimming its workforce to 35,000 from 42,000, but in South Africa's tough labour environment, with growing union militancy, it may find it hard to make further big staff reductions.

Headline earnings per share were 195 cents but are not really comparable to the previous six months because the company only listed in mid-February last year.

This means that while it has 733 million shares in the previous period, the latest calculation is based on an average of 566 million shares and so is not really comparable.

Operating profit came in at around 4 billion rand from 3.37 billion rand, an increase of 19 percent
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jaDEB

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