Sibanye Gold's Mr Fixit in a fix as debt rises and rand strengthens

Nairobi

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 per cent last Thursday after the company warned that it may consider selling assets, metals streams and - only as a last resort - new shares, if the recent strength in the rand persists.

Sibanye is under pressure to reduce debt after a rapid-fire series of deals transformed the company from a staid and steady gold producer to a diversified precious-metals miner with both southern African and US assets.