Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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I agree, bangrak.
It may be a while away, but when Ivanhoe brings phase 2 of this project on line, that could be a significant driver of global PGM supply.
https://m.youtube.com/watch?v=jbb-O6KOFbQ&feature=youtu.be
Ben @ Liberum said this on the 25th Oct which was 2 quarters ago, Rh was $4700....
"We believe that the rhodium price will lift substantially in the coming quarters (Commodity priceDECK (61 pgs)) as destocking by glass fibre and automaker OEMs comes to an end. There is further upside risk from supply disruptions in South Africa and Russia"
That seems to justify Ben maintaining a ridiculously high net profit for 24 which IMO has been impossible to attain for 6 months without $13k RH for the last 6m. In Q4 and FY it will be interesting to see how they cover this. When the net comes in below $10m and you have given $33m you look incompetent and also untrustworthy, a bit like that bloke at IC.
I expect a profit marginally higher than Q1 or Q2, but only marginally (on account of Rh having nudged up a little).
Profit for the year is heading for around USD8m, bar any exceptionals.
This is a pretty easy share for which to estimate value.
It's going ok.
Read the 4th March buyback note for the various restrictions Liberum have to abide by.
Just need the basket prices to keep on rising.
I believe it would be fair to say that the directors of the company are in the best position to know the true value of the shares of Sylvania Platinum hence its a little concerning to me that the board does not appear to believe that the shares are worth more than sixty pence a share hence they have only made share buy backs when the shares have been below that figure.
Appears to be a industrial recovery underway in China and USA which will help boost the value of companies involved in PGMs. I'm up 20% since buying back-in on 20th March. SLP, JLP, and THS have all started upwards since 4th March. Non UK companies such as Anglo American AAL and Sibanye Stillwater SBSW are behaving similarly.
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Not surprising with the buy backs going on supporting the share price.
The underlying RH price looks stable at 4,750 or thereabouts.
Be nice to have some news on the projects as that is the only internal catalyst that can move the needle here IMHO. SLP have sat on those assets for over a decade now. Perhaps Jaco realises that exploiting those commercial rights is the only way for growth, the recent history (spike in Rh) simply being a distraction albeit a welcome one, it was only ever going to be a white swan event.
Time will tell...
Earlier this week we have broke out from the descending channel. Yesterday retest to the trend line and today we are bouncing off. Very nice. This could move up quite a bit over the next few weeks, unless PGMs retrace.
Cash plus 4-5 times projected FY24 net profit gives a share price in the low-to-mid 40s. Add 5 pence for sound management and potential growth in ounces produced. Deduct 5 pence for country in a big political and financial mess. I still end up with FV around 43-45 pence.
That's one opinion, another might be that buying back shares when the SP is significantly below NAV is good for shareholders.
Rhodium might never spike over 20k again, but it has done suddenly in the past (more than once), so you never know.
You pays your money and you takes your choice.
Good Luck to all holders.
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