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The FYTD net basket is $1031 according to my sheet, if I use the current prices i get $1052.
The AIC was $1037. That is not much cash flow. RH needs to move significantly, small movements in other PGMs don't make a huge difference. I see the trade but don't see the fundamentals to support this level. let's see if the broker chases it up more. My view is that buying above 60p is wasting SLP shareholder cash and they should save this money for the reversal.
Well, Its fair to say I regret selling at 55p! I thought it was being held up by buybacks, but seems to have gone crazy this last week. Typical! Not sure what to do now, I like the management (another world compared to JLP) and wanted to get back in, but really not sure if I have missed the boat or if this is a bit of a spike? I remain cautious re long term Platinum demand.
For me fundamentally 60p is generously fair on the current basket, technically 69p is as much as you should be considering at this stage if you do charts. Been driven up by the broker defending the 20 day, traders and systems have done the rest. 51p to 69p is enough for me. Gains everywhere
It's a good job we are backed by 260M of net assets including 100M of cash then.
And I appreciate the dividend even though basket prices are poor at the moment.
...have rather a long way to catch up with the share price.
Increased basket prices = increased free cash flow = increased dividend
They aim to pay dividend for the year equal to a minimum of 40% of free cash flow
I hope these rises will filter down to us via an increased dividend. Next div cut from 3 to 1, was a shock.
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Buyback total now 1,879,000 shares and they've used approx. $1,327,379 of the $3m total.
They've been spending an average of $73,742 per day.
There are 21 trading days left of the buyback, so if they are to use the full $3m then the daily average spend needs to rise to $92,528 - quite a rise. Obviously that rise will be either through buying more shares, or buying at a higher price - probably a combination of both :-)
They started buying at 51p.
All looks well set for the future . very safe and super div , added yesterday
They've now bought back 1,288,000 shares and have spent approx. $901,837, so approx $2.1m left if they use the full $3m.
They were paying 51p per share when they started. Yesterday they paid 59.26p per share.
Platinum and palladium starting to go up again following gold and silver prices.
Yes, it looks to be creeping back
Rhodium and platinum prices are also rising steadily, if sp goes down i will just buy some more.
Of the maximum $3m allocated for the buyback, they've currently used approx $647,000 buying 930,000 shares.
They've been spending an average of $92,000 per day.
There are 27 trading days left until the 30th April (when the buyback ends), and $2,353,000 left in the pot. Averages around $87,000 per day - so pretty much seems like the buyback running at the same rate as currently if they do use the full $3m.
Averaged $4,200-$4,300 over the prior 6 months.
$1072/ounce !! Rising nicely
Expect this to continue.
1/ spot pricing will rise further, ignore short term volatility.
2/ Impact of gold and silver rising, will translate in general to most other miners, to some degree irrespective of their basket.
I believe slp are well placed to rise further.
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...