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Ah you're right Malvolio - I stand corrected.
Either way, a sizeable tailwind!
More like 4.7 million shares - dollars not pounds
Hi Rich, best you check your figures, you are wildly out
£3 million, giving approx 6 millions shares, representing approx 4.5% of the listed shares. And all bought (potentially) before the expiry at the end of April?? That’s only forty or so trading days.
Let’s see what happens now.
It’s about time. All that cash and a low sp. It’s clearly oversold as are most of the miners and explorers at the moment.
I bought in after a ST tip previously; he has continued to push this. I was lucky enough to listen to Bangrak on here and do some further research and sell at about even after the price had been pushed up a bit. Since then it has dropped by about 35%. Thanks Bangrak for making me delve a bit deeper and not trust the IC or house brokers.
Tipped today by ST in the IC, as a recovery buy with a Liberum target of 96p
7 June 2024, this will hit 40p and then I will buy in - with mucho, mucho greed :)
Edison provide paid for research - so don't get too excited!
SLP have paid for their independent research.
On the face of it this seems oversold.. The cash position alone is over $100M alone..
From Edison brokers I should have mentioned …
Not sure if this has been posted already but a positive view …
26 February 2024
Metals and mining - Mcap: £136m - Price: 51.8p - Update
Sylvania Platinum
Sluggish PGM prices affect forecasts
Sylvania’s Q224 and H124 results were overshadowed by a lower PGM basket price, which resulted in a 10% reduction in revenue. With the delay in the PGM price recovery we expected, we have pared back our forecasts, particularly for platinum and rhodium. This, combined with Sylvania’s weaker-than-expected Q224 results, has resulted in a 30% reduction in our FY24 EPS estimate to 7.4p, with cuts of 23% and 14% for FY25 and FY26, respectively. Our new valuation is 118p/share, down 13% from our previous 135p/share. With exploration assets valued at book value and conservatism in our Thaba joint venture (JV) valuation, our valuation offers upside as projects graduate from exploration to production over the coming years.
Yesterday's company presentation was very good as well.
https://www.youtube.com/watch?v=VHkAR3yYUss
GLA
Yes sends out a strong signal.
Good to see a director buying
Yea peanuts, which does more harm than good.
I've not posted on here for a few years but have doubled my holding yesterday. Long term holder having bought most sub 10p, albeit top sliced a few at £1.20. Now primed, and ready for the climb back to £1 as metal prices recover (unless we get snapped up before...) Fill yer boots..............
60,000 shares.
IC is usually way too early with their "tips". I remember they were tiping CMCX at 170p last year with a "Strong Buy" and it ended up bottoming around 95p
Indeed Quiggers,
Let's see where this bottoms out. They've been operating successfully at these levels before. I don't mind if other miners pack it in.
Am happy with that divi. Better than anticipated.
Best
Investors’ Chronicle is pushing this as a recovery play with recovery in PGM prices just around the corner. A bit like Rishi Sunak telling us higher economic growth, lower inflation and improving public finances are just around the corner. I’m sceptical.
Https://www.investorschronicle.co.uk/ideas/2024/02/22/sylvania-platinum-looks-like-a-recovery-buy/
GLA
Sylvania are expected to yield 6-7% assuming they continue with their previously announced dividend policy to pay the initial third at half year and basket prices hold up. PGM prices have already collapsed and with regional uncertainty surrounding the future of marginal mines in South Africa we can probably say with some degree of confidence the basket price won't drop another 50% from current levels.
Dividend Policy - effective 1 July 2022, the New Dividend Policy will be able to pay out a minimum of 40% of adjusted free cash flow for the financial year. Where annual dividends are declared, these will be paid in two tranches with an interim dividend equating to one third of the forecast full dividend and the final dividend equating to the remaining unpaid balance of the minimum of 40% of actual adjusted free cash flow. The payment of dividends remains at the discretion of the Board.
Would be no surprise if a takeover offer came in over the coming days. Highly attractive company with no debt and lots of cash.
The highest volume since sep 2021 but it's down 7%. You ignored the warnings its 40p