Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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owned*
Obviously the ETF would have been the better move from back then, but now the price has already taken off surely an ETF is fully valuing its assests at this price level? Sure it can continue to follow it up, but I like the idea of a company that's value has yet to be reflected in its share price and is lagging where we are now, it still has to rise to reflect the upcoming profits, and has more downside protection if the price takes a tumble, but perhaps I'm missing something, never own or looked at ETF's in great detail.
" As a publican of 30 years standing I can also tell you that equinox's, alongside full moons, bring out the worst in people's behaviour for no obvious reason. Police and A & E staff will tell you the same. "
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- Could also add ladies longer hem lines being seen ( maxi skirts ) as a predictor of a bear market too :)
In the absence of yesteryears lift operator bell boys, Taxi drivers taking up the mantle of authoritatively offering stock market tips is reckoned to be another imminent bear market sign :)
See what you mean C/Kai about SBSW.
Buy for $2 in the summer of 2018 and today a 9-bagger ;) And still trending bullishly!
Mind you I know of 2 posters on here with buys @ 6p and 8p so they're sitting on a 20-bagger and the other on a 15-bagger!
Want better?
Coincidentally, just been looking at cutting out the middleman and investigating an ETC (Exchange Traded Commodity) of buying physical Rhodium (they store it in bottles in your name; so fees apply) and it's called XRH0 ( Xtrackers Physical Rhodium ETC )
- It's even listed on here, on this site! LSE
https://www.lse.co.uk/SharePrice.asp?shareprice=XRH0&share=Xtr-P-Rhod-Etc
Not a single post on that forum.
Buying it at 65p back in late 2015/early 2016 would have resulted in a 38-bagger today! Of course you had to know that in 2016 Rhodium was set to fly :)
So a £27k buy, at the v beginning of 2016 would have resulted in £1m value today - in just over 6 years later :)
It too, is still trending bullishly.
XRH0's chart is the only one that more closely mirrors SLP's chart performance pattern for the same 6 year period.
end of April normally here for 3rd quarter results
Jeez I made a right mess of that!
Still...... ??
Would some one be kind enough to tell me when next "Rhodium infused" set of SLP financial update gets released to the market.
Thankyou
Velocity
Your thoughts on this do bare weight. From an investment point of view I own 9 stocks, all 9 are down today of which 7 have reported buys significantly ahead of sales.
Heyho.
As a publican of 30 years standing I can also tell you that equinox's, alongside full moons, bring out the worst in people's behaviour for no obvious reason. Police and A & E staff will tell you the same.
I dont own any Tharisa although they also appear to have a bright outlook, but I found their latest presentation had very useful comparisons of all the PGM miner prill splits and valuations, they left SLP out of the share price upside as technically SLP arent miners (plus they likely have more upside than Tharisa), but they did have SLP on an EV/EBITDA ratio where SLP does come out slightly ahead.
I was also pleased to see however that Sibayne Stillwater was the only share that beats Tharisa in terms of potential share price upside at recent share prices, again SLP is excluded from the list, but independant analysts reckon Tharisa has 157% upsdie from the price a few weeks agoat those spot prices, but Sibayne has 191%!
I already have SBSW so I'm talking my own book, but even Tharisa's own presentation admits SBSW have significantly more share price upside at strong PGM prices, so if you're able to trade on the NYSE they might be one to consider if you're looking for some diversification, while still playing the PGM theme.
The SBSW listing is an ADR of 4, which just means youre getting 4 normal shares for every ADR share you buy on the NYSE.
I'll try not to plug Sibayne again, I'm also hoping to add to them in the new ISA season if they havent taken off yet so dont buy too many please! ;)
But the rising PGM tide should lift all the PGM miners boats, some will execute better than others so Tharisa could end up being the star but SLP is still my favourite and biggest position by far of any of them, just to get back on topic.
With the quarter coming to an end, anyone have an estimation of net profit for Q3 2021 (end Mar 2021) for SLP?
My estimation is around $33M (£24M) or an increase of around 60% versus the last Qtr. The increase in profit attributed to the increase in basket with most, but not all of the revenue adding to bottom line. Would be interested to know if others have the same ball park estimate? I see immense value at this price and for a company with no debt, nice cash balance and beating forecasts year on year, believe we are simply too cheap.
I'm still tracking many Hydrogen/Green stocks and ETF's and they were great to be in a year ago, with an easy 100% increase in many of them. The majority of appear to have gone down hill since the 1st February as they have had their run for the moment. QGREEN the NASDAQ OMX Green Economy Index is a good overall indicator. I'd assume they will come back again once the real infrastructure starts to happen, which will be good for Platinum group metals, though best to sit out for the moment imo. "The Hydrogen Economy" is a good board on the other site if you wish to follow what's going on.
Once again another equinox is upon us.
- spring equinox this weekend (tomorrow, Sunday).
There is a small (v small) industry on the "coincidental "? effects around equinoxes and the stockmarket indices in particular.
The mantra goes something like this:
Whatever the prevailing market trend leading up to the equinox, it often goes into reversal around/just before/just after each equinox.
Hmm...
I originally had March down as a barely different close to what the month opened at
- before I removed March 2020 from historic seasonality charts and it jumped to single digits (6%+) increase for March, so just over 125+ Close? (month ends, not intra-month highs and lows).
Anyway, the SP was shooting up to 134 intra-month or something, and abruptly changed track and now back to lower 120's
That was the period leading up to this equinox, so is the SP doomed to close the month well down from that previous 130's?
- or could the hoodo voodo equinox mean the current low 120's are about to revert - to much higher?
They normally mean the indices undergo abrupt change and not specific stocks in particular (but who tells the equinox to ignore specific stocks :)
Hi Velo!
Investing in PGMs ahead of the coming "hydrogen economy" is an excellent idea, I think. I expect iridium, ruthenium and platinum (in particular) to perform exceptionally well through the 2020s. IMO, this is a fairly "safe" investment.
Investing in "hydrogen stocks", though, is flat-out dangerous. There have already been two big scandals - Nikola (fuel-cell) trucks and just a few days ago, Plug Power. As usual, the pumpers and dumpers and hype and scam artists are attracted to the "big new thing". As for our own ITM, its valuation seems incredibly high for a company with almost no income.
Obviously, big money is going to be made in this sector in the next decade. Hydrogen fuel cells are ideal for heavy transport such as buses, trucks, ships, and trains - and even possibly aeroplanes. Batteries (given current technology) just can't cope with the power-weight ratio.
But which company is going to make that big money? Who will be the winner whose share price goes up a thousand times whilst dozens of its competitors fail? No, I've got no idea about that. If anybody on this board does, I'd be happy to learn more!
As nice, a succinct precis of SLP as I've seen, TigerBTTail.
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Keep bumping into mentions/email spam of these as you say:
" coming 'green hydrogen' economy. "
Have you come across any specific stocks in that area that have caught your interest and are perhaps worth looking into for further DYOR? As each new spam email throws up yet another promoted stock in that industry.
Hi Clever Thoughts!
Well-managed, debt free, cash rich, dividend paying, low cost and highly profitable platinum group metals producer.
Industry leading basket price (due to high % of rhodium in their concentrate).
Honest and trustworthy reporting.
Platinum group metals (PGMs) prices booming due to mandated increased use in catalytic converters (worldwide emissions control regulations tightening), and due to excitement about the coming "green hydrogen" economy (PGMs play a key catalytic role in hydrogen hydrolysis).
Still undervalued according to most normal metrics. SLP's share price increases, but it never seems to catch up with its ever increasing profitability!
All in all, great company.
I think that covers the basics. (Invested here since 8.2p).
CleverThoughts
Have a look at how well capex is managed over, say, the last 6 years.... It tells an interesting story and shows how well this company is run.
PGM prices weren't this high back then, and yet the Management still turned a handsome profit and growth.
Current valuation is ridiculously low, whichever way you look at it. For a company with an ROE of 30+% this screams undervalued.
Eventually the market will wake up to this.
I'm not one of the experts but I've been in since 38p. There's a massive upside here, if anything I think undervalued still, and also if you compare to Jubilee.
I'll let the BB experts fill you in, this is just my opinion.
I have just stumbled across SLP. Can you please give me a quick brief on SLP? Before you all shout DYOR, I am conducting my own research but be good to hear a different perspective and hopefully hear anything useful I wouldn't find out by just reading RNS.
There isn't many shares you see having a continuous upward trend like this. Do we expect it to continue?
Thanks in advance to all the helpful responses.
Licence to print money.
And some more. Are we expecting news soon??
Some chunky buys gone through!
On the subject of the actual rhodium price, JMAT have it up strongly at $27,600 today. Palladium is soaring, JMAT are quoting $2,626.
I'm sure that's the effect of Norilsk Nickel's flooded mines and production cuts kicking in. Personally, I'm not convinced by Norilsk's plan to save the two mines, so I'm half-expecting the palladium market, in particular, to get very stressed indeed.
Hi Expart!
Thanks for sharing your parallel calculation for iridium and ruthenium content in the SLP 6E prill split. Given today's prices for the "minor" PGMs, your post really shows how lucky SLP is to be processing UG2 and not Merensky reef ore. (No, I don't think Terry foresaw the current situation all those years ago when he set up the Dumps Operations!)
Taking your numbers, they imply that if SLP hit their guidance of 70K 4E PGM ounces, that would equal production of almost exactly 95K of 6E PGM ounces.
Of these extra ounces 4,845 ounces would be iridium. And 20,140 would be ruthenium. These are in the same ballpark as Barna's numbers yesterday.
Spot price iridium today: $5,900 (up again). Spot price ruthenium today: $390 (up again).
So, if you annualise today's spot prices you get "extra" revenue of $28.6m from iridium and $7.9m from ruthenium = $36.5m total for the "by-products".
To give an idea of the revenue growth now coming from the by-products, using the average prices for calendar year 2020 and similar production, you get to (4,845 oz iridium x $1,622 average price = $7.9m) + (20,140 oz ruthenium x $264 average price = $5.3m) = $13.2m.
So, if you assume today's spot prices for the by-products will be this year's average prices, that makes an improvement in revenue of $23.3m! And remember, SLP calculate their AISC on a 4E basis, so these ounces come for "free" except for the smelting and refining charge (allow a conservative 20%) and profit taxes.
An alternative approach to caculating Ru and Ir content follows.
The below are the average ratios (from US Geological Survey data / company reports):
Entity Pt/Rh Pt/Ru Pt/Ir
UG2 5.3 3.3 13.6
THS 5.8 3.8 12.9
SLP 5.0
Merensky 18.2 8.7 47.4
Thus the typical Ru/Ir ratios for UG2 are 4.1 (for one UG2 based tailings dump a ratio of 4.7 was reported by USGS).
Based on the 4E/6E ratio of 73.7% of the latest SLP report, one would assume 21.2% Ru and 5.1% Ir. This is similar enough to Barna's fag packet calculations based on the document. So should be as close as we can get to use the basket numbers TBTT calculated.