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I simply had to sell some, after the recent run SLP got to 45% of my portfolio.
I must say that Tharisa intrigues me, especially now that it is 10% cheaper today. The chrome millstone is no doubt holding it back, and it has some fairly chunky capex coming in this year but which is feeding some explosive growth. There must only be about 10% free float which means it will move fast either way. I'm not sure about investing in Zimbabwe but it does appear cheap if they can deliver.
Samancor/SLP and Tharisa sit right next to each other on the Western Limb and are mining from the same reef with very similar prill splits, yet Tharisa has plummeted recently...perhaps that warrants another look. SLP Mcap today is only a little under Tharisa which is interesting
Been holding a fair chunk of these for about 5 years and, like others, finding it tempting to take some profits but for the moment hanging on. My other largest long term holding is SOLG which I believe has huge potential
I still hold a small amount of HUM, bought back before the last update after having sold up on the big slide down. I’m still not convinced about management there (nor the Dugbe vehicle) but it hopefully will start moving up a bit now, seems to have a bit of interest.
Hi barnaberible - in short term and in hindsight looks like right play - anyone who sold at 66p can now no doubt buy in lower.
My "good" problem is I'm significantly overweight in SLP, but also even more overweight in gold miners (mostly HUM, but few others too). In fact SLP is the only stock I own outside of gold miners. So if I do sell, I would probably just keep it on the side lines waiting for lower re-entry. As when I compare SLP versus my gold miners, all in my opinion have huge upside, but SLP currently pips them on this PGM basket price.
Coronavirus is a case in point and one that is very hard to play - it's one factor along with recent surge in SLP sp I wouldn't fault anyone for selling. I would have guessed that this should have brought the PGM basket crashing down a long time ago by now. Yet Pall and Rh have ploughed on up, providing a significant bullish buffer even if there is now a retrace. Rh is at a buy price of $12,700! Additionally if ZeroHedge articles are to be believed China is injecting record levels of new debt and pumping money into autos too. Hard to know where all this money will go what will win out - Coronavirus slowdown versus easy money.
Visitor - absolutely agree and thanks for clarifying the basket mix re other shares.
I (personally) was very overweight here and simply needed to move some cash for risk management purposes, I think this is still very cheap looking at my forecasts and I still have a very healthy holding.
I new a pull back was coming but was not sure when so did not sell, don’t regret it too much as I could have easily messed it up and ended up at the wrong end of a SP increase.
For the time being whilst my total investments are so small I will hold stocks for long term
AAZ then announced meaty dividends, went from strength to strength and is now at £1.40. Maybe SLP will repeat such history. Who knows when next positive curve ball not priced in will occur - Volspruit news, anticipation of meaty dividends, PGM basket price staying at these levels for longer than anticipated as sp still hasn't priced this in etc. etc.
It's always very healthy for long-term holders to sell out, for pull backs to happen and to allow new investors in, so don't fault any of those for selling recently. I've done it in the past, but I just can't find another share at present that beats the SLP undervaluation, even with the recent surge in sp. Even amongst mine gold miners. But in short-term I don't doubt there could be pullbacks as run up has been pretty swift.
I hope you looked at their current Net Debt metric ($12m), their huge Capex requirements this year ($117.2m) and need for additional financing for Vulcan fine Chrome Project of this Capex which is $52.8m (i.e. more debt or equity/ placing) before you dived in.
I also scanned THS but thought it's far too early, but fortune favours the brave I guess. If there is any update on the monster Zimbabwe Karo Resources Platinum Project (update was due in Jan), that could give a welcome boost to the THS sp. But at present the Chrome side will offset the positive news on the Platinum side and doubt it will do as well as SLP in the medium term. Chrome is at $135/tn and not a pretty place for THS or JLP who recently double downed at chrome at the wrong time.
I remember when a lot of people bailed out of AAZ after a great run to the 60-70p region
sliced a small amount in here and added #THS