Stephen Roelofse Quotations

I think in time they will probably make an offer (for Western Areas). I can't see them taking a passive stake in the company like that.

Anyone that wanted to make an offer probably decided it wasn't worth it after the run up in the price.

You can't expect ARM to have control over the whole business. It's a good deal for ARM. The assets have cash flow and energy is quite topical at the moment.

The industry's profit margins have widened considerably despite the strength of the rand against the dollar. The benefits of restructuring and consolidation are now coming through. I just hope the industry doesn't let costs slip again.