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That's because they are so short sighted they can't find a more productive use of the cash.... buying back shares should be the last resort of any company.
There is a buy back program underway at SLP presently accounting for a chunk of daily volume recently imo and lifting the share price a fair chunk.
More potential re-structuring in the PGM space.
reuters.com/markets/commodities/implats-weighs-3900-job-cuts-south-africa-price-rout-takes-toll-2024-04-26/
If the market was forward thinking with JLP then I think 9.5p would be in the offing, but it's hard to think forward when the goalposts keep getting moved further into the future. Let's hope that's the last of the Roan delays. It will re-rate when folks are certain.
Cheers Nelson - very hopeful she will recover fully - on the JLP bus - I think you might be right - try not to be too clever. The shares in a clear uptrend unless it fell all the way back below 5.5p which is highly unlikely so maybe not be greedy and just get back on as funds allow. There is a chance that this is the bottom anyway but it's not confirmed. I'll buy what I can for now and stop thinking about it.
All the best to your other half wish them a speedy recovery.
That is why I go off gross margin not earnings Kalan.
You could earn 400 million but if your gross margin is only 2% there isn't much there
I think the sp is maybe a little undervalued at the moment. I make it around 2p for pgms and copper plus 5p to 7p for chrome at current production and prices
The market should be forward looking and if they were they would see Chrome giving it an uplift. Copper increased production we are waiting for.
Shuvlin what sp do you think it should be and why?
Hi Kalan,
My best wishes to you and your other half and obviously hope all turns out as well as it can do.
In terms of JLP SP entry points etc, imho, sometimes if you've identified the right bus, its better to ensure you are on it first and not worry too much in relation to what seat you take prior to that.
Wish you well,
NtD
the sp should be exactly where it is. all of the investment world has access to everything that's out there and this is the conclusion the market has come to. a drop to the 200 day moving average (then at 6.5p) was always on the cards from the recent peak, the 1 year chart was absolutely clear on this when it peaked at 7.5p ish.
there is strong support from this moving average which is now at 6.6p and the sp is hanging onto it. the long term downtrend (remember that) which we broke out of on the last rise is now down at 6.1p to 6.3p depending on which line you choose (i know it can be vague can't it). when i was a forced seller due to my circumstances a couple of weeks ago at 7.35p, there was another asset i could have liquidated, but comparing the two charts it was obvious jlp was going to drop. i'm now in a position to buy some of my shares back and maybe all of them some time next week (need to check with the other half first and she's in surgery). my mind is a bit all over the place at the moment but was thinking of buying a first tranche about 6.4p if i can get them and then adding around what i hope will be the bottom over the next week, averaging in.
anyone else looked at the charts and indicators who could help me out - please, please no ****ging off or name calling - i've come on here to distract myself and don't need any more hassle. any positive help would be welcome.
(as an aside - chrome production and price is up and copper is being produced at an increased selling price, pgm down marginally - in terms of revenue(leon's favourite word) that's looking better but have folks factored in costs and thought about profit? from memory staff costs were up about 15% last year and fuel about 47% - just from memory, not lying if that's wrong, read it about a month ago.) the fuel costs are going to be addessed with solar on the waste rock project so these costs must be at the forefront of his mind.
Perhaps we can hope that IBC will take a more detailed and understanding view as to where the sp should be rather than Cannacord
Cannacord just reiterated their buy target at 10p.
Don't know gotreal and don't care. I know we are just have to look in the accounts not hard.
Why are people repeatedly claiming that we are not producing copper?
Thanks, LJS
There are a lot of excellent posts on this thread. While, as I said, Colin did an excellent job getting JLP where it is today I also believe that he had taken it as far as he could and a change was overdue by the time he left. The company, under the new management team have taken it to new levels as stated by NTF, gotreal and MS.
NTS - just for clarification. In my previous post I agreed with Charles432 that Leon is an engineer who enjoys solving technical problem. At no time have I stated that he was " Just an engineer". I invested in this company because of Leon many years ago when he was running Braemore.
If I have have given you that impression, I apologise.
We are producing copper, just at a lower rate than we hope to see after the full commissioning.
The point I’m making is that combined earnings from chrome and PGM’s should be in the same ball park as last year and that isn’t reflected in the SP yet because the market doesn’t know about it, whereas the individual investor who puts a bit of effort in to work out the numbers can see that.
Trouble is no Copper, just delays, no SP benefit!
Look identical to me too. I don't see copper having much affect at the moment Seisnav the delays probably having too much drag on it so probably want to see numbers improve or just Roan in full flight but the market definitely hasn't picked up on Chrome yet.
I track SLP share price in my spreadsheet because they are (currently) still a pure PGM play so it's a good indicator in my view of how the market views Jubilee....
https://tinyurl.com/yn3bzp8x
Do you see any evidence of chrome or copper affecting the share price? To my eye they are tracking pretty much identically.
That explains it thanks Seisnav.
Thutse was only fully ramped up for Q2 so that's why the earnings jumped during the second half of H1
RNS in March so not relevant.
Just noticed on the Chrome figures Seisnav published the second quarter price was down and yet the gross margin increased from $10 to $23. I wonder if they got a better margin for the 40% toll processing. Forgot when it was renegotiated.
Give it a rest gotreal or the board will end up in another slanging match with multiple posts being deleted like last night. It disrupts good discussion.
Seisnav post was interesting with the figures he posted.
Why do you let buttermilk wind you up so much?
Back behind the sofa for me:)
I expect earnings to come in somewhere close to last year, which is not bad when you consider that most of our (so called) peers will be reporting a drop of around 70% or more due to the fall in PGM basket.
Definitely Gray, if they grow the copper on this platform, earnings will be jumping, especially if the copper price keeps jumping as production jumps.
$15M, would certainly be a land mark Seis! Seems to me, most people expect the price of copper to keep rising.