There is no doubt a short term bubble, but prices might remain elevated enough, for long enough, to make Sibanye very attractively priced. Management wants to use a portion of the current massive cash generation to diversify the business into other areas (more gold and green energy metals) to sustain future dividends. Sibanye wants to be a dividend leader, but it appears that short term holders (which characterise the marginal investor in resource companies) just want cash back as dividends (more than the promised 25-35% of normalised earnings) or buybacks and the default view seems to be that any cash spent on new ventures or acquisitions is toxic. This despite the fact that Sibanye's current cash flows would pay for ALL historic acquisitions in 6 months – a truly remarkable outcome and an indication that the company is among the best in the market in capital allocation, if measured by historic success.