Edition:
India

Sibanye Gold Ltd (SGLJ.J)

SGLJ.J on Johannesburg Stock Exchange

2,581.00ZAc
18 Oct 2019
Change (% chg)

31.00 (+1.22%)
Prev Close
2,550.00
Open
2,560.00
Day's High
2,672.00
Day's Low
2,555.00
Volume
21,400,452
Avg. Vol
18,729,322
52-wk High
2,672.00
52-wk Low
820.00

Latest Key Developments (Source: Significant Developments)

Sibanye Gold Commences Internal Restructuring Process, Creates New Holding Company
Friday, 4 Oct 2019 

Oct 4 (Reuters) - Sibanye Gold Ltd ::SIBANYE COMMENCES INTERNAL RESTRUCTURING PROCESS, CREATING A NEW HOLDING COMPANY AND LISTINGS FOR THE GROUP.FIRM INTENTION IN RESPECT OF AN OFFER BY SIBANYE-STILLWATER TO ACQUIRE 100% OF ISSUED ORDINARY SHARE CAPITAL OF SIBANYE GOLD.PROPOSED DEAL FOR CONSIDERATION OF 1 (ONE) SIBANYE-STILLWATER SHARE FOR EACH SGL SHARE HELD.SGL BOARD RECEIVED OFFER FROM SIBANYE- STILLWATER TO ACQUIRE ENTIRE ISSUED SHARE CAPITAL OF SGL.PROPOSED DEAL FOR CONSIDERATION OF 1 SIBANYE-STILLWATER SHARE FOR EACH SGL SHARE WITH NO ENTITLEMENT TO CASH.PER PROPOSED DEAL TERMS, SIBANYE-STILLWATER ADSS WILL BE LISTED ON NYSE, SUBJECT TO NYSE APPROVAL.SGL WILL BECOME A WHOLLY-OWNED SUBSIDIARY OF SIBANYE-STILLWATER.PER DEAL, ADS DEPOSITARY WILL SEPARATELY CALL FOR SURRENDER OF ALL OUTSTANDING SGL ADSS ON A MANDATORY BASIS.PER DEAL, UPON SURRENDER OF SGL ADSS, ADS DEPOSITARY TO SEPARATELY DELIVER, ON 1-FOR-1 BASIS SIBANYE-STILLWATER ADS.NEW HOLDING COMPANY WILL REPLICATE CORPORATE GOVERNANCE STRUCTURES AND POLICIES OF SIBANYE GOLD.NEW HOLDING COMPANY WILL BE CALLED SIBANYE-STILLWATER AND GOLD SUBSIDIARY WILL RETAIN NAME SIBANYE GOLD.  Full Article

Sibanye Announces Wage Offer For Marikana & Rustenburg Operations
Wednesday, 25 Sep 2019 

Sept 25 (Reuters) - Sibanye STILLWATER ::SIBANYE - WAGE OFFER FOR MARIKANA OPERATIONS CONSISTS OF INCREASE OF R400/MONTH FOR YEAR 1, R600/MONTH FOR YEAR 2 & R800/MONTH FOR YEAR 3.SIBANYE-STILLWATER - WAGE OFFER FOR RUSTENBURG OPERATIONS CONSISTS OF INCREASE OF R700/MONTH FOR YR1, R750/MONTH FOR YR2 AND R800/MONTH FOR YEAR 3.  Full Article

Sibanye Stillwater HY HLPS 54 South Africa Cents, Sees Lower FY Capex
Thursday, 29 Aug 2019 

Aug 29 (Reuters) - Sibanye Stillwater ::RESULTS FOR THE SIX MONTHS ENDED 20 JUNE 2019.HY US PGM OPERATIONS' ADJUSTED EBITDA 36% HIGHER TO US$208 MILLION (R3.0 BILLION) - STRONG PERFORMANCE IN Q2 2019.SIBANYE-STILLWATER - HIGHER TO R2.1 BILLION (US$145 MILLION) - STEADY OPERATIONAL PERFORMANCE.FOR THIS FINANCIAL YEAR, WE MAINTAIN FULL YEAR GUIDANCE.POST-STRIKE PRODUCTION BUILD UP AT SA GOLD OPERATIONS SAFELY ACHIEVED – OUTLOOK FOR H2 2019 SIGNIFICANTLY BETTER.HY HLPS 54 SOUTH AFRICA CENTS.MINED PRODUCTION FOR 2019 FROM THE US PGM OPERATIONS IS NOW FORECAST AT BETWEEN 625,000 2EOZ AND 640,000 2EOZ.FY US PGM AISC IS FORECAST TO BE BETWEEN US$740/2EOZ AND US$755/2EOZ.HY 2E PGM PRODUCTION 284,773 OZ VERSUS 293,959 OZ.FY CAPITAL EXPENDITURE IS EXPECTED TO BE AT THE LOWER END OF GUIDANCE OF BETWEEN US$235 MILLION AND US$245 MILLION.STILLWATER HY 4E PGM PRODUCTION 627,991 OZ VERSUS 569,166 OZ.  Full Article

Sibanye Says 3,450 Jobs Affected By Restructuring
Wednesday, 5 Jun 2019 

June 5 (Reuters) - Sibanye Gold Ltd ::JSE: SGL - CONCLUSION OF S189 CONSULTATION PROCESS AND 2019 SA GOLD OPERATIONS PRODUCTION GUIDANCE.SIBANYE - DUE TO S189 CONSULTATION, JOB LOSSES WERE NEARLY HALVED, WITH ABOUT 3,450 EMPLOYEES FINALLY AFFECTED BY RESTRUCTURING.SIBANYE-STILLWATER - NO VIABLE ALTERNATIVES FOUND FOR BEATRIX 1 SHAFT, DRIEFONTEIN 2, 6 AND 7 SHAFTS, AS WELL AS BEATRIX 2 PLANT.SIBANYE-STILLWATER - CAPITAL EXPENDITURE FOR 2019 IS FORECAST AT ABOUT R2,350 MILLION AT SA GOLD.SIBANYE - DRIEFONTEIN 8 SHAFT WILL REMAIN IN OPERATION FOR AS LONG AS IT MAKES A PROFIT, ON AVERAGE, OVER ANY CONTINUOUS PERIOD OF 3 MONTHS.SIBANYE-STILLWATER - FY ANNUAL PRODUCTION FROM GOLD OPERATIONS SA INCLUDING Q1 AND Q2 IS FORECAST AT BETWEEN 24,000KG TO 25,000KG (772KOZ TO 804KOZ)..SIBANYE-STILLWATER - BEATRIX 1, DRIEFONTEIN 2 SHAFTS WILL BE PLACED ON CARE AND MAINTENANCE.SIBANYE-STILLWATER - DRIEFONTEIN 6 AND 7 SHAFTS AND BEATRIX 2 PLANT WILL BE CLOSED.SIBANYE - ADDITIONAL COST REDUCTIONS ARE ENVISAGED THROUGH RATIONALISATION OF SINGLE ACCOMMODATION UNITS, TRAINING FACILITIES.  Full Article

Sibanye-Stillwater Chairman Sello Moloko To Resign
Wednesday, 29 May 2019 

May 29 (Reuters) - Sibanye Gold Ltd ::RESIGNATION OF GROUP CHAIRMAN, MR SELLO MOLOKO AND APPOINTMENT OF DR VINCENT MAPHAI.APPOINTMENT OF VINCENT MAPHAI AS CHAIRMAN DESIGNATE EFFECTIVE FROM 1 JUNE.  Full Article

Sibanye Qtrly Total Gold Production From SA Gold Operations Of 4,456 Kg
Thursday, 9 May 2019 

May 9 (Reuters) - Sibanye Gold Ltd ::JSE: SGL - OPERATING UPDATE QUARTER ENDED 31 MARCH 2019.SIBANYE-STILLWATER - QTRLY ADJUSTED EBITDA OF R1,819 MILLION (EXCLUDING. RUSTENBURG) FROM COMBINED PGM OPERATIONS RESULTED IN POSITIVE GROUP ADJUSTED EBITDA OF R176 MILLION.SIBANYE-STILLWATER - QTRLY ALL-IN SUSTAINING COST FOR SOUTHERN AFRICA GOLD OPERATIONS R914,590/KG VERSUS R513,829/KG.SIBANYE-STILLWATER QTRLY ATTRIBUTABLE 4E PGM PRODUCTION FROM SA PGM OPERATIONS (INCLUDING MIMOSA) OF 263,508 4EOZ.SIBANYE-STILLWATER QTRLY TOTAL GOLD PRODUCTION FROM SA GOLD OPERATIONS OF 4,456 KG (143,278OZ), INCLUDES 1,130KG (36,330OZ) OF PRODUCTION FROM DRDGOLD.SIBANYE-STILLWATER - TOTAL CAPITAL EXPENDITURE FOR YEAR IS GUIDED AT BETWEEN US$235 MILLION AND US$245 MILLION FOR YEAR.SIBANYE-STILLWATER - GUIDANCE FOR SA GOLD OPERATIONS WILL BE PROVIDED ONCE WE HAVE SUFFICIENT CLARITY OF PRODUCTION BUILD UP..  Full Article

Lonmin And Sibanye Agree Higher 226 Mln Stg Takeover Deal
Thursday, 25 Apr 2019 

April 25 (Reuters) - Lonmin PLC ::INCREASED OFFER , PUBLICATION LONMIN SCHEME CIRCULAR AND PUBLICATION OF SIBANYE-STILLWATER CIRCULAR.BOARDS OF SIBANYE-STILLWATER AND LONMIN HAVE REACHED AGREEMENT ON TERMS OF AN INCREASED RECOMMENDED ALL-SHARE OFFER.REVISED EXCHANGE RATIO REFLECTS AN INCREASE OF 0.033 NEW SIBANYE-STILLWATER SHARES PER LONMIN SHARE HELD AT EFFECTIVE TIME OF SCHEME.TERMS OF INCREASED OFFER REPRESENT VALUE OF 77.4 PENCE PER LONMIN SHARE AND £226 MILLION FOR ENTIRE ISSUED AND TO BE ISSUED ORDINARY CAPITAL OF CO.AFTER COMPLETION, CO SHAREHOLDERS TO HOLD ABOUT 10.9% OF ENLARGED SIBANYE-STILLWATER GROUP.LONMIN DIRECTORS INTEND THEREFORE TO UNANIMOUSLY RECOMMEND THAT LONMIN SHAREHOLDERS VOTE IN FAVOUR OF SCHEME AT COURT MEETING.INCREASED OFFER REFLECTS RECENT RECOVERY IN PGM PRICING ENVIRONMENT, BALANCED AGAINST FACT THAT LONMIN CONTINUES TO BE FINANCIALLY CONSTRAINED.LONMIN CONTINUES TO BE UNABLE TO FUND SIGNIFICANT INVESTMENT REQUIRED TO SUSTAIN ITS BUSINESS AND ASSOCIATED EMPLOYMENT.  Full Article

Sibanye-Stillwater Enters Into $125 Mln Gold Prepayment Arrangement
Thursday, 11 Apr 2019 

April 11 (Reuters) - Sibanye Gold Ltd ::SIBANYE-STILLWATER FURTHER ENHANCES LIQUIDITY BY ENTERING INTO A US$125 MILLION GOLD PREPAYMENT ARRANGEMENT.FUNDING EXPECTED TO BE ACCOUNTED FOR AS DEFERRED REVENUE UNDER IFRS, TO BE APPLIED TOWARDS REPAYMENT OF REVOLVING CREDIT FACILITIES.FUNDING IS EXPECTED TO BE ACCOUNTED FOR AS DEFERRED REVENUE UNDER IFRS.FOLLOWING EQUITY RAISE AND THIS TRANSACTION, CO HAS LIQUIDITY OF APPROXIMATELY R10 BILLION (US$700 MILLION) OF UNDRAWN FACILITIES.FUNDING WILL BE APPLIED TOWARDS REPAYMENT OF REVOLVING CREDIT FACILITIES.RECEIVED CASH PREPAYMENT OF $125 MILLION IN EXCHANGE FOR FUTURE DELIVERY OF 105,906 OUNCES OF GOLD DURING Q4 2019.CONCLUDED FORWARD GOLD SALE ARRANGEMENT, GOT CASH PREPAYMENT OF US$125 MILLION FOR FUTURE DELIVERY OF 105,906 OUNCES OF GOLD DURING Q4.  Full Article

Odey Asset Management Discloses 1.23 Pct Interest In Sibanye-Stillwater - Filing
Thursday, 11 Apr 2019 

April 11 (Reuters) - Sibanye Gold Ltd ::ODEY ASSET MANAGEMENT DISCLOSES 1.23 PERCENT INTEREST IN SIBANYE-STILLWATER - FILING.  Full Article

Sibanye Says Share Placing Raised Gross Proceeds Of About $120 Mln
Wednesday, 10 Apr 2019 

April 10 (Reuters) - Sibanye Gold Ltd ::108.9 MILLION NEW ORDINARY NO PAR VALUE SHARES PLACED WITH EXISTING AND NEW INSTITUTIONAL INVESTORS AT PRICE OF R15.50/SHARE.SHARE PLACING RAISED GROSS PROCEEDS OF ABOUT ZAR1.7 BILLION / US$120 MILLION.J.P. MORGAN SECURITIES PLC WAS SOLE BOOKRUNNER IN CONNECTION WITH PLACING.  Full Article

Sibanye plans to cut over 5,000 jobs in Marikana restructuring

JOHANNESBURG South African miner Sibanye-Stillwater said on Wednesday it planned to cut around 5,270 jobs, or about 6% of its workforce, as it restructures its loss-making Marikana operations that it acquired this year.