Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Platinum prices fell to a six-year low on Monday on concerns over growing supplies of the precious metal. Platinum for July delivery, the most actively traded contract, closed down 0.8% at $1,088.60 a troy ounce on the Comex division of the New York Mercantile Exchange, the lowest settlement since March 18, 2009.
Bargain......some buyers are really lucky to be getting these so cheap!
Today in the sp......need to get through the 8.4/8.5p mark
Shares in Lonmin (OTC:LNMIF) fall 5% in London trading(12/06/15) after Glencore (OTCPK:GLCNF, OTCPK:GLNCY) handed over its stake to its shareholders this week, highlighting investor concern over South Africa's platinum sector.Glencore had inherited a 23.9% stake in Lonmin through its 2013 purchase of Xstrata but announced in February its intention to distribute the shares to investors; analysts had expected some selling pressure on Lonmin, anticipating many investors in Glencore, a diversified commodity player, would ditch the Lonmin shares because they were unwilling to bet on platinum.Platinum has lost ~43% of its value from a 2011 peak of more than $1,900/oz. and its outlook remains cloudy.
Thomson Reuters recently released its GFMS Platinum & Palladium Survey 2015, and in it, noted that the platinum market to be in a deep deficit last year "(prior to inventory movements) of 1.02 million ounces, singularly owing to major strike-related production stoppages in South Africa." The 2014 deficit comes on the heels of surplus in 7 of the last 8 years; the deficit is expected to continue. Meanwhile, palladium has been a market in deficit since 2007. The GFMS team estimates "the palladium market deficit last year at 1.58 million ounces, representing the most severe market imbalance for more than a decade." GFMS Platinum, Palladium Price Forecast According to the survey, the average platinum price is forecast to fall by 16% year-on-year, averaging $1,170/oz, about 5% higher than May's closing price on the MetalMiner IndX. Analysts indicate that this suggests a closing of platinum's discount to gold. The average palladium price forecast is broadly flat year-on-year at $800/oz, not too much higher than current prices.
Took out the stops and we bounced back above 8p. For A Friday I should be happy.......next week we should hopefully get going the right way
Any thoughts on why the broker has given this target ? Presumably at least, year end. This has been the lowest figure, looking at a 17 year chart & if some of the original long term holders are still holding, this may be the reason. My guess is that this latest exercise has been for all concerned to average down. Question is, what’s the ‘Fair Value’ for this stock & is the present price massively over sold ?
Watch when we get a run of buys to the sp it can't wait to rise........sure sign this has bottomed
Here very confident of a strong bounce
Export ban removed and Zim platinum tax resolved.. http://www.iol.co.za/business/companies/harare-breaks-ground-with-sa-firms-lifts-export-ban-1.1870016#.VXmHtEZGSEg
My assessment - - Platinum currently ~$1136/oz and appears to have bottomed vs production costs of $800/oz & shareprice was between 16-20p when platinum at $1213/oz (8% drop in income vs 45% drop in share price) - ZAR/USD was 10:1 when between 16-20p now ~12:1 (~20% improvement in income) - Price/ Book of .53 = a valuation of 17p a share, - Positive sale of mining assets generating 450M (ZAR) - Cash flow positive $141M (USD) (undervalued company) - price appeared to double bottomed & then found support (for now) - AQP 'appears' to still be the 5th largest platinum producer globally even though suffering a reduced last quarter (market share) - Vehicle manufacturing numbers have increased again despite reduced global growth, personal spend per capita is increasing (demand), - China recently reduced interest rates again to spur growth whilst shutting down local metal refineries due to pollution levels (demand) Zimbabwe Mimosa mine - 50% owned with Implats who, separately are refurbishing a refinement site to comply & remove the 15% local raw material tax implications - theory being Mimosa (& AQP) will be able to use this site in the future and so not have the 15% tax implication also. - 15% tax is not being applied as all Zim platinum miners had ceased raw material export (since Jan). Since the decision to suspend the tax in late May, AQP & all Zim producers will be shifting in-bulk raw material onto the market hence any drops in price may be attributed to this event. - Implats do not wish to invest in expanding Mimosa whereas AQP does (risk to expansion unless AQP goes it alone in Zim) I'd suggest AQP is a take-over target (challenge being the ~24% local ownership which triggers duplicate payment from a foreign perspective) or given the cash levels to either share buyback, wait and hold as commodities are still depressed or acquire additional licenses and diversify into other commodities. anyone have more Information on the debt or remaining bond to be paid later this yr; I understand the bond was mostly repaid thru the dilution of shares in early 2014 when the sp was around 20p.. Immediate negatives being the 1.5BILLION shares out there making over supply & share price growth difficult, Zimbabwe pushing for a 51% local ownership stake, Bond repayment later this year. Late June production report, Late July End of Financial year report.. Anything else out there to add or amend to my thoughts?
http://www.investegate.co.uk/aquarius-platinum--aqp-/prn/director-pdmr-shareholding/20150602144516P57CF/ ....are not silly.Sir Nigel Rudd made an astute purchase at 8.58p for 1 million shares - he knows what will be happening!
http://www.platinum.matthey.com/prices/price-charts We are seeing a bounce in prices, which goes hand in hand with spring/summer as it is wedding season and demand increases. Not to mention the increase in car sales.......catalytic convertors. I expect that the sp will climb accordingly
Will look to break up this morning, so need this to get through 8.5p.......then we are away
I think the move through to 10p will come floor has been set over the last couple of trading days......big buys filled
Is the 200 day moving average. A rise up to that over the next few weeks would be brill. Results out end of July, so plenty of time.
Finish on the cards.......this is about to go boom in my opinion
To warm up here - a break upwards expected........going the right way
Agreed and what we have here for the sp is another bottom that has been hit and the bounce back will be strong. I would advise all to look at buying as I expect a strong recovery
Appears to have put in a double bottom, recently falling to $1088.00 & now $1114.00. AQP end of financial year, June 30th.
Now that's very unlikely isn't it.......personally a return to double figures for me very likely. Bottom is being cemented......next move up and 9p-10p seems sensible
Confirmed - https://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=AQP.L Nice when other systems agree with you, but certainly a winner at these levels - some really large buys this morning, which the MMs wanted to fill. Will see this above 8.6p come lunch and hopefully double digits by next week
Filling this is a treble bottom - expecting a massive rise here after everyone has mopped up!
Agreed, but when this goes it goes very quick. Market was down yesterday, however this held its gains - I think the floor has been set now to break through the ceiling
Agreed, with the Directors purchase this should now be sitting at 9p, excluding the general market drop. My gripe is that the Pro’s sell off for such minute profits & don’t let stocks rise. The only way to over come this is large buying until their holdings are exhausted.