All eyes will be on Sibanye-Stillwater in the next two months as the company tries to conclude a "streaming" deal involving pre-payment under fixed terms. It hopes this will cut down its debt to about R13-billion depending where the rand is. The company took on the debt when it bought US-based palladium mine Stillwater in 2017 and investors have been anxious about how CEO Neal Froneman plans to slash the company's debt given the fast deteriorating conditions of its South African gold assets, halts in production due to safety stoppages, the strong rand, and weak gold and platinum group metal (PGM) prices. While the market has been expecting another rights issue to raise capital to reduce the group's R23-billion debt, Froneman was still adamant the company was not going to go that route and that the streaming deal would help. Ideally, the company would be comfortable with its debt at R10-billion. Streaming is when a company, such as Sibanye, makes a deal with a buyer to supply them wi...
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