Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Re share buyback programme.... from the horse's mouth:
"Through the buybacks over the last six years we have been able not only to prevent the dilution from options vesting, but we have been able to grant around 12 million shares to senior employees and we have cancelled approximately 11 million shares. The Treasury holding now covers all historical awards and enables the Company to create the newly-launched Employee Dividend Entitlement Scheme for all junior and mid-level employees. "
Ta artrader
twirl - They have a share buyback programme I think its circa 1.6m but not sure where they are up to.
From Feb 21 RNS- Bought back 375,652 shares under the Share Buyback Programme, as well as 1,448,075 shares from employees, all transferred to Treasury;
artrader>> Do the Board have authority to buyback.
I think a week or two is needed here before it's safe to say it's game on again, a rise above $20.5k for Rh and some stability in car productions and registrations in china will help, i think that data is due next week. 103.9+ is indicating something moving might be worth watching that area.
Share buy back needed here and I’ve a feeling it’s happening .
I've bought 2450 @ 102p.
I will continue to monitor and will probably buy more.
Germany is getting its beach towels ready:
https://www.miningweekly.com/article/southern-africa-part-of-germanys-platinum-boosting-green-hydrogen-strategy-2021-08-02/rep_id:3650
With November’s summit looming, Southern Europe on fire & Northern Europe flooding on a daily basis PGM prices are headed one way only. I also think that the rhodium price has found its new floor for the medium term and that the $ price will begin with a 2 within the next 10 days. GLA
Not much has changed apart from price.
Is the business intact? yes
Is the board competent? yes
Is Rh supply in deficit? yes
Is the valuation favourable? yes
Have the earnings improved over last year? yes
Will the price hit xxx in xxx time? I have no idea, but the likelyhood is that the returns will be market beating over time.
Also, bear in mind that there is quite a bit of nervousness around many of government schemes stopping or scaling back their support for COVID impact. This can have negative impact on consumer confidence in the short term.
A global chip shortage is also a consideration. Again, a short-term impact but it led manufacturers to scale back production significantly. It won't have much of a long term impact though because
1 - chip production will catch up
2 - EV's are not a universal solution yet. The quoted ranges are for average speeds of 45 mph -- which makes it impractical for long distance travel or transport. Many will have to opt for hybrid at best.
When prices drop, fear often sets in when one has no thesis or done valuations of their own. It's worth to remember Ben Grahams words: "...in the short run, the market is like a voting machine--tallying up which firms are popular and unpopular. But in the long run, the market is like a weighing machine--assessing the substance of a company."
Patience is a virtue of every successful investor.
This will be £2 by Q4 2022 (calendar year) IMO.
Car supply chains should be up and running by then, the SA political situation will improve and FY22 financial year will be over for SLP. I would imagine the current £100m cash in the bank will rise to circa £150m at least, which means as a minimum market cap has to move by the equivalent cash balance.
Rhodium prices are settling around $17k-$18k but who knows, once global economy is in full recovery mode, price of rhodium may yet increase past $20k mark.
I for one would not mind if SLP stays at around 100p for the remainder of this year as I have other shares I am banking on giving me a good return which I plan to invest back in SLP.
BP
Down 33% from recent highs.
Be a long time before this is £2. Maybe in a couple of years.
I can wait.
"Investors have massively overreacted to the latest quarterly results from Sylvania Platinum (SLP:100p), a cash-rich, fast-growing, low-cost South African producer and developer of platinum, palladium and rhodium, marking the share price down 14 per cent."
Repetition. But straight facts. £2 chips all day.