Deals
Deal Wizard of South African Gold Mining Is Scaring Investors
- Persistent strong rand may lead to asset sales, streaming
- Sibanye needs to pay down borrowings taken on for M&A
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Investors might be running out of patience with Sibanye Gold Ltd.’s colorful chief executive, Neal Froneman.
The South African miner’s stock plunged by a record 16 percent Thursday after the company warned it may consider selling assets, metals streams and -- only as a last resort -- new shares, if the recent strength in the rand persists.