SLP are one of the lowest cost platinum producers in the industry and these results next week could be exciting indeed as platinum has had a lovely rally this year so I guess the average sale price will be significantly higher however how much has been sold will be closely eyed.
Also will a maiden dividend be paid? Will there be share buys instead? Will be watching closely indeed.
Been here for a while now and sitting on tidy profits already but mid to long term I am a very happy holder, just wished these sellers would not keep a lid on prices, we broke above 8p before and then back down, we need news to really break out in my opinion and the catalyst will be results, just hope it's a sustained rise.
The nice thing to see here is that we are all helping each other out and sharing views and thoughts in a constructive manner. And best thing is there are no pump and dump day traders on here from what I see which is good for a sustained rise.
I hope all holders do well in our investment in SLP. :-)
Some other notes on the chart and in the context of the forced/distressed seller you guys think is in play here:
She bounced perfectly off the weekly RSI @ 50 last week to set up what could be a rise lasting some months.
There's also terrific looking RSI divergence on the daily since January implying that the pressure the seller is applying is having a weaker and weaker effect (not visible in the SP movements during that time) and I would suggest that has been demonstrated by those large "sells" yesterday where they're now getting a higher price, almost regardless of the size of the trade, as the buying pressure is now being seen to overhaul the selling pressure resulting in a higher SP, despite any forced/distressed selling going on.
This is precisely the scenario that techs like RSI are supposed to tip you off on.
At some point, the changing of whip hand from the seller to the buyer(s) will result in a seismic shift in SP ("breakout") via "capitulation" trades/sells and imo the proof of that will be a successful "test" of the 10p area soon.
If that goes then I can see a straight-line move to as high as 16p and then, imo, you're into the recovery phase proper and with the macro/micro ducks continuing to line up over the next year or so you may see 30s again with that rising MA50 constantly forcing her up ...
If they spend some of that seemingly overflowing war chest on other resources for growth (which is what the market wants to see ...), perhaps on a late-stage explorer or early-stage producer, then you could see a lot higher than that down the line of course ...
Looking forward to next week with SLP already. But I wont be wishing my weekend away. Anyway, interesting trades yesterday, I think the seller Miton was still about dumping in the usual 100k, 75k & 50k tranches. However after 4pm we had a big dump of 500k, I really hope that is the last of them or perhaps they are going to hold off until after results. With results next week and the seller almost cleared out we become more and more attractive investment. Not to mention Platinum price is still holding up well above $1050 which will only add to our cash reserves. Big rerate next week I predict.
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