Sibanye Stillwater $SBSW has been in a deep slumber. It’s a $4.0B mining stock from South Africa.
But when SBSW wakes up, we take notice.
Because this name doesn’t move alone—it trades nearly tick-for-tick with a pair of metals that have been coiling for years, Platinum & Palladium. It’s also correlated to the South African Rand.
And when commodities trend, they really trend. That’s why we’re trying to get in on this reversal just as it's happening.
Let’s zoom out to the prior-cycle highs.
This chart shows just how close the ties are between SBSW and these two metals. Sure, it mines others—but platinum and palladium are the drivers. And right now, both are pushing toward the upper bounds of multi-year ranges, with volatility compressed to an extreme low.
That’s the kind of setup that often precedes major trend shifts.
For most investors, getting exposure to these metals through futures isn’t feasible. ETFs like $PPLT and $PALL exist—and they’re fine if you want clean exposure.
But if the goal is to maximize upside from a resolution higher, we prefer a levered expression of the theme.
That’s where SBSW comes in. Here’s what it did last cycle:
SBSW also acts as a leading indicator, which is why we’re looking to trade it:
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