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Spot palladium touching $2,100 now.
Platinum also up a bit.
Definitely worth holding for the results AND the dividend announcement!.
I think the Q4 results, due soon will be better than expected even with over a full month of production lost!
I had two Targets set before the Covid -19 market crash 60p and 80 - 100p.
SLP forecast for the next two years looks very good from what I have been told!
GL
These are definitely worth holding for the results, especially if the cash balance has increased. How many weeks are the payments delayed? Would Feb price action fall in this Quarter? $2300-$2800 for palladium. Not sure on Rhodium prices for Feb.
BB
Palladium back through $2,000 again - $2,021 as I type.
Platinum also showing welcome signs of life - maybe catching a bid from gold.
Overall basket price not as good as Q1, but very healthy.
My take on it is that the final results and the dividend announced with them (in August) will really shake things up, and cause a rerate.
(IMO, the Q4 results due soon won't do it. They will come out about break-even; which isn't bad at all, considering that a full month of production was lost, and then the plants had to be ramped back up. But the market will simply shrug its collective shoulders at them.)
I can understand new investors not believing this company's numbers at first sight. Frankly, they are incredible - debt free, cash pile of c. 30% of market cap, EPS of over a third of its current share price, etc...
I'm hoping audited numbers convince them that they are not just seeing things!
Lol and yet we linger at kid 40s.
Never mind hopefully a good dividend this year.
Rhodium makes up 50% of SLP income now, the Rhodium quarterly average price is down about 15% on Q1 ($10,298) v ($8,280) and production was down due to CV19 for 2 mths (15%). So a basic calculation from previous quarterly income is. $43m (q1) minus 15% off half income = $39.77m, minus 15% for downtime (CV19) = $33.8m or £27.48m minus expenses/tax = £10.99m net profit or £43.97m pa. Divide by 272m shares = 16p EPS x 5 = 80p.
Calculation on my spreadsheet using today's PGM prices which do see stable, gives a basket price of $2137 oz on 68,000 oz, so 17p EPS. again 80p easily, probably 100p with $47m cash+. Interesting to see that some other PGM miners are currently trading on a price to free cash of 7, they have considerably less cash, pay no dividend, and will need to raise more funds, so short term IMO this is the one that screams cheap cash to me.
“Platinum could play a big role in batteries, but we need to thrift out the other metals to make it viable,” said Mike Jones, CEO of Platinum Group Metals, which is working on battery design with Amplats.
The firms have invested up to US$4 million in Lion Battery Technologies to find a way to use platinum to keep batteries cool and create lighter batteries that last longer. The aim is to have a commercial prototype available in three to five years.
This was 13.08.2019, I wonder have they made any breakthroughs in this technology?
Hi, I am new to this chat, but invested in SLP, as for repressed, how can you keep a good horse down!... this will be big IMO , I also hope South Africa get over this as quickly as Where I am from "Scotland" seems back to normal!
https://apple.news/A35p67d71TZymmOb_IfASCQ
Perhaps their South Africa base of operations is keeping this share price repressed?
In addition to holding some SLP shares I also opened a long position on Palladium in my spread betting account last week. Doing very well today with Palladium prices going through the roof.
I haven't been able to find out why? Apart from the effect of covid on mines in South Africa. Bear in mind Palladium was at over 2500 before covid hit. Commodity traders have been saying it will trade within $2,000 - $2,100 this year but I wouldn't be surprised if we have another bull run before the end of the year. Especially if new car manufacturing picks up in China.
Watch this space.
Correction: palladium is now back above $2,000 / ounce - $2,000 / oz as I write.
Happy days...
Meanwhile palladium spot price is close to $2,000 again.
Platinum also doing reasonably well.
'Head and shoulders' then off to the barbers.
Just give it a few more weeks.....
C.
hopefully this will stretch to 47p fairly soon and then form a nice head and shoulders pattern around there, then get back rightfully to the 50p+ area
O2B, SLP were up 56% on last results and cash was up about $14m in a quarter if you allow for the share buybacks. JLP cash has gone up about £4.5m in 6 months. There are reasons for this but there is a significant difference in free cash generation here. I think JLP looks fair at 4p but good for much more in 2021+
Demand for the PGM metals from china is looking promising with manufacturing and sales now at Sep 2019 levels https://tradingeconomics.com/china/car-production https://tradingeconomics.com/china/car-registrations
JLPs earning are up 54%.
What is coming up for SLP?
It must also be time for more share buy backs....
All that money in the bank does not earn much.
C.
Check out JLP and their 6 months report.
Now work that back for SLP.
The 200 day MA is now heading in the right direction.
This sp will surge all of a sudden once they release that news.
The money in the bank is mounting up fast.
A time to get in early before that RNS.
C.
Good morning from paradise. This retraced to 38p on a 50% Fibonacci level so i don't ignore technicals but do balance them with fundamentals. Yesterday there was a Macd crossover of the signal and macd line indicating a strong change in trend. The volatility stop was broken at 43.4 indicating it’s in a new upward trend (my favorite). 20, 50, 100 ,200 day EMA were all passed and the rsi nearing 50 having broken above a descending trend from 28th may. It’s in a very clear channel now towards 66p imo in september, perhaps a new one has been carved out that wasn’t spotted by systems/traders before and that dip was perhaps many having the wrong channel? To me, it looks very good technically. Fundamentally the basket price is, and has been consistently above $2000 oz for months, so multiply this by 68,000oz take off about 60% for ease, divide by 272m shares and you have a PE of 16p. Add in the cash of $48m (14p a share) and this is really worth 87p right now on a dull PE of just 5 without cash (100p with). I’ve read several 30+ page broker notes on PGM miners this week and all state PGM prices to remain elevated for about 3 years. So SLP....Sell Volspruit for $40m, there will be $100+m in cash, announce a large special dividend of 20p then we watch the price rise considerably. Please do alert me to anything remotely like this out there, i do have a few i'm in but this looks special to me hence me being overweight in it. So a solid base at 38-40p with a target of 100% and this BB does seem intelligent, sensible, and well reasoned.
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SLP Currently -
Price to 200 day ma trend .= BULLISH! > New crossover
Long term trends . . . . . . . . = BULLISH
Medium term trend . . . . . .= BULLISH > New crossover
Intermediate trend . . . . . . = Bearish
Short term trend . . . . . . . . = Bearish
Ultra-short term trend . . . .= BULLISH
Hi Stoodio - Well you can certainly tell price ran freer once it humped over the 200 day average :)
Better still, all indicators have signalled they're now initially embracing a bullish outlook.
With Relative Strength now motoring dramatically to just over the midway 'healthy' line and into bull territory @ circa RSi53! leaving the danger of a looming oversold territory like as if it was a million miles away.
Checked back 5 years and more back to listing, and a high percentage of times that the Relative Strength for SLP has often as not, travelled on to overbought condition sometimes smartly, but mostly within 2 months or so.
Depending on how high the SP rises I intend a little trade if/should it reach that overbought level. However overbought condition is not on the cards at all in any way shape or form - just sayin' about previous historic behaviour after Oversold vicinity - although the SP did not cross over that threshold, it was just short of a near pin-pricking of it.
Only noticed tonight there was a GapDown on Feb 28th from 58p the night before, down to opening at 48p the next morning. What was all that about?
So although a 10p drop overnight, the next 3 days partially closed some of it, rising back up to 56p whereafter, the portentous Gap Down curse spilled over into the worldwide crash that followed on, making matters worse.
Nonetheless, that means there still remains an unfilled gap to be filled from 56p to 58p, so anyone who's thinking this bull run is good enough for at least 58p has my concurrence on that.
If nothing else, if not this run, then I feel 56 to 58 will turn up at some point in future proceedings. (Often when gaps get closed the SP goes steaming past, even further).
My daily existence revolves around the short term trend. All my troubles and mistakes have all 100% come from ignoring it, or foolishly predicting it's next move based on prior behahiours; so with that in mind all I'll say is that the short term trend has yet to join the party and is still bearish, but to me it is starting to flex and bend in the right direction.
I have made unbreakable discipline resolutions since the March crash - and that is; I ignore the short term trend at my own peril
- so until it actually confirms and crosses to the upside, I remain cautious but v optimistic.
One other thing. Volume was unaccountably below the long term average today. Little volume yet a big uncharacteristic single day move in the SP.
Might just be one of those things but best to stay alert on big SP movements on little to low volume moves. Accumulation/distribution metric is having none of it though, and is strongly bullish and well into accumulation mode. Just wish the recorded volume was backing it up. Probably nothing, but that's all for negatives.
--------------------------------------
State of trends to follow next > > >
Well the 42p 200 day moving average guy on here must be happy
I think this might be the beginning... velo, would appreciate your chart thoughts once again buddy. But please don't go out of your way to do so :)
Have a great weekend everyone. Stay happy, stay safe.
toptiger, I entirely agree but frankly this has been happening for well over a year now. I don't really know why, or how, but SLP is on more radars than one might think. Yes, it's manipulated to a point, but just for a characterful analogy, you can knock a gypsy down, but you can bet you bottom dollar they'll get back up and come at your harder and faster every time.
SLP Long? The direction can and WILL only be north, until such time true value is realised, or we are bought out. Or taken private....
1st time poster on this share , have been steadily accumulating since the low 20s, looking forward, as I think everybody on here is, to the update later this month.
Seeing high prices or higher transactions brings to mind what often happens in the watch collecting world.
A dealer may have 10-20 watches of a particular type , let’s say Rolex Sky Dwellers in stainless steel in a popular colour dial. The current price in the market is as an example £12,000. He puts up several of his examples at £15,000. Collectors or just a regular customer will think that’s a bit steep and keep looking. After a while the dealer advertises a couple more, this time at £20,000. Suddenly the watches at £15,000 don’t look that expensive anymore and people begin to think that is the new normal. The dealer only needs to shift a few to increase his margins dramatically.
I’m not saying that this is the case here although it may well be a variation but price manipulation is as old as the hills. Wherever you have supply and demand you’ll always have someone trying to get an edge.