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Hanré Rossouw, CFO of Royal Bafokeng Platinum (RBPlat), last year produced a show-stopping demonstration of "tears by bedtime" market pessimism. The meteoric rise in platinum group metal (PGM) prices had, in his view, given rise to dangerous expectations.

"This does feel like the early stages of another bull market cocktail party," he said at RBPlat’s interim results presentation in May. "And we’ve all been to such a party before, with alcohol — sorry, I mean cash — starting to flow freely and the DJ playing old-time favourites such as Champagne Supercycle and What Doesn’t Kill You Makes You Stronger … For Longer."..

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