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Palladium price is still going up but platinum price is flying, with the share buy backs we will see 65p soon and 70p by friday.
The increases at the moment are being driven by the share buy backs, offsetting sells. The problem is, once the buyback is completed (was it £3m in total?) I fear the price may drop back again.
After that long duration downtrend......the outlook,looks like a trend reversal..imo...especially when the fed start dropping rates,pushing the dollar lower
Give the rise in PGM prices and the company hoovering up a large % of the shares being offered to buy, this rally will hopefully have some legs.
I agree when you look at the absurd valuations in most other markets especially Tech .. a company with this much cash and what seems like a turn in the commodity after a bear market .. is worth looking further into.. Gold is tearing higher and not long before the other PMs start to follow..
Reality is knocking on the doors...
Platinum is over 900 and the momentum is building, we should see over 60p this week, mind you NAV is 58p with no debt and share buy backs is continuing.
Yes, looks like things are starting to recover nicely.
That's huge.
Platinum up strongly also.
SLP's basket price is set to rise in the second half and looking at the reasons behind the recent commodity price movements could run faster than forecasts, which for speculators happy with the £80m cash in the bank, values the annual cashflow of circa $20m with ongoing dividend yield of 8% at just £60m.
On the point of buybacks at the current share price, this is arguably the most the best route to retaining value assuming the cash and liquid assets are maintained at around $100m and margins having bottomed now begin to improve. If you believe the price is heading to 40p then you will hold a different view, however I'm of the opinion precious metal producers are due a rebound.
This buyback is a waste of time in my opinion also, I really don't see the point right now with all the uncertainty. I had previously sold all my holding until things have settled down once more but I just can't see it yet.
Edison 26/2/24 expects $19.1m or $16.7m in H2....down here SLP cannot generate much more than $18m a year, they should have done $8-9m in H1 according to my numbers but that didn't happen so I'm wondering where the profit is going. A mining business producing a product that isn't very fashionable now with a reasonable amount of cash IMO would trade on a low PE sub 5 cash adjusted 2-3 is reasonable and that is 43-49p. If the broker wastes the $3m on buybacks above 50p and pushes up the price then it is wasted cash once more. Use the month to defend and add stability to the bottom creating a solid POC, if prices rise then add another $3m.
**22/2/24** Page 3 broker financial model........net income 2024 $33.1m.
H1 2024 is over with $3m done & the broker still thinks $30m in H2 is possible & IC/ST is sharing this target in a paid-for article. Fluff or reality you decide what you read.
Most of published 'research' does not qualify as independent.
Maybe the BOD could explain as to why these services are necessary?
Not that I don't think that the company is well run. Au contraire!. But is this distraction (and expense) necessary?
The basket price is pretty much at the bottom, there's only one way to go from here. Happy that they retained a dividend and comforted by the cash pile.
A target price of 96 pence given the current basket price is delusional. This share starts to look like fair value in the low 40s.
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.