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I'm another firm believer this is far too cheap. I've been trying to understand why miners are not going up in value right now and the main problem I see is that many have got lazy and let their costs grow out of control. If you're a gold miner with AISC around $1500 now then the prospects are worse than a couple of years ago when you contained your costs to $1000-1100.
THS seems different and my personal guesstimate of our fair market value is around £820m ... I might take some profit at around 175p but this is a long term hold
Me too Viable, just amazing that footsie miners like Centamin and Hochschild are on forward PE’s so many times higher than THS with much less growth, or rather the opposite, in prospect. Of course truth will eventually out but what a wait!
A step change will come at some point. I feel a damn sight more confident here than with Sukari and its west wall . . . and am at least familiar with its area of operations.
Problem is our shares are almost dead; today just two trades so far, one of those tiny, while Centamin, for instance, has had nearly 1000, we are so very unloved except by ourselves, but it should mean if ever buyers or sellers entered we could move fast up or down.
Share far too cheap IMO. MCAP only £360m at current share price. NAV last September declared at roughly £340m. The company has grown since then so NAV will now exceed MCAP. This company is growing fast, in a key sector, with a ridiculous PE. Not that I'm complaining. Been invested over a year now and only recently added another 50% to my stake. The current 5% ish yield is handy, but the yield on my investment a year ago is far higher.
The timetable for the dividend declaration is as follows:
Declaration and currency conversion date Tuesday, 30 November 2021
Currency conversion rates announced Thursday, 24 February 2022
Last day to trade cum dividend rights on the JSE Tuesday, 1 March 2022
Last day to trade cum dividend rights on the LSE Wednesday, 2 March 2022
Shares will trade ex-dividend rights on the JSE Wednesday, 2 March 2022
Shares will trade ex-dividend rights on the LSE Thursday, 3 March 2022
Record date for payment on both JSE and LSE Friday, 4 March 2022
Dividend payment date Wednesday, 16 March 2022
No dematerialisation or rematerialisation of shares within Strate will be permitted between Wednesday, 2 March 2022 and Friday, 4 March 2022, both days inclusive. No transfers between registers will be permitted between Thursday, 24 February 2022 and Friday, 4 March 2022, both days inclusive.
I'd been looking up the dividend info myself, so from the annual report, here's:
ORDINARY RESOLUTION NUMBER 8
Final dividend
“RESOLVED THAT a final cash dividend in the amount of US 5.0 cents per ordinary share is declared for the financial year ending 30 September 2021, such dividend being payable to shareholders registered on the register of members of the Company as of close of business on the record date, being Friday, 4 March 2022.”
Additional information in respect of ordinary resolution number 8 The Board has proposed a final cash dividend of US 5.0 cents per ordinary shares for the financial year ended 30 September 2021.
If approved by shareholders, the recommended final dividend will be paid on Wednesday, 16 March 2022. Shareholders on the principal Cyprus register will be paid in US dollar, shareholders whose shares are held through Central Securities Depositary Participants (CSDPs) and brokers and are traded on the JSE will be paid in South African rand (ZAR) and holders of depositary interests traded on the LSE will be paid in sterling (GBP). The currency equivalents of the dividend will be based on the weighted average of the South African Reserve Bank’s daily rate at approximately 10:30 (UTC +2) on 30 November 2021, being the currency conversion date.
The Ex dividend date is set at the AGM on 23rd Feb as far as I'm aware.
Yes Ilja is unbelievably helpful and better than any other company I’ve come across, which bodes well for Tharisa if employees are that good. On another note can anyone confirm next ex dividend date is 2nd march as for some reason I had it written as 27 Jan?
Hi Viable,
Not sure about that as a strategy, I followed BXP a pharmaceutical company in Bangladesh duel listed here and there the disconnect was massive traded way higher in Dhaka than here, the gap never closed while I was following, but it is interesting to note and follow the differing prices for the same company.
Wonder if your broker would allow you buy on JSE trade might cost more but you would get more shares for your buck.
https://www.jse.co.za/jse/instruments/3949
Shall continue to add for the next few weeks, and for as long as the arbitrage differential remains as it is with the JSE.
I also check the tweets daily as someone (Ilja?) is on the ball. As a result it cuts out some of the requirement for some extra research.
Good to Pt price breaking $1k, with Pd breaking $2k its been a while for both and Rh with $100 nudge in the right direction prices for PGMs on the rise?
2021 FY net asset increase of 37.5%, revenue increase of 50% and a profit increase of 130%. Est EPS for 2022 37c/27p is a 20% profit yield on the current valuation, with 2023 30p 23%. The Vulcan plant is coming online this quarter plus news on Karo platinum, very low valuation possibly because 67% of shares are held by insiders and 9% institutions. This company is going places whether the middle men want to value it properly or not.