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DB from here targets the ATH @ 140s nicely BTW.
Platinum looking like it's about to test a critical TA pivot around $970 - big +- move will come from there IMO.
Yes, a good time to buy also because, in terms of TA we are at a key support level. Hopefully it will bounce from here.
True that the price of PGM is depressed, but we are still making good profits and we have a huge pile of cash so I am happy to keep holding and pocketing the fat dividend
It looks likely to me the company are buying back some shares today and at a price below 80p a share I consider that this is good business for the company and the shareholders.
Hopefully not ;)
Luna, what?!! You don’t think they’re scouring these comments for direction to make a strategic decision??!
I would hope that they are sensible enough not to listen to purchase requests on this forum and apply good judgement as to when there is a good entry point.
Regardless of price movements, I still think this operation is well managed by the board.
Sentiments oscillate.
Looks like they understand the market and are rather candid in their approach.
Has my vote (still)
Looks like they were listening. They bought some below 80p and that hopefully is a new floor
If not more now.
Should be some support around 79p.
Loggylogbot Thanks for your posting. I am aware that there were a number of stipulations in the RNS regarding the Share Buy Back but I can see no reason for them to have failed to buy back any shares. If my memory is correct the average price paid for the shares in last years buy back was around 85pence yet they are now not even prepared to pay just above eighty pence for the shares. I make the dividend closer to 13% but in any event its a massive amount is it not.
Hi SheffOwls, there were a number of stipulations in the RNS regarding the Share Buy Back - it may be to do with the 25% of volume rule or something?
Dividends work out about 14% from this buy in price, you would think this would be an incentive for some buying pressure.
I find it amazing and concerning that one month after announcing that the company intend to buy back shares that they have failed to take up the opportunity to purchase shares in the market even though they could have paid a price in the low eighties. I can only presume that the company and its broker expects that the price has further to fall which is not good news at all for shareholders.
Using T3m basket net now is around $29m or pe of 9.1, if you want to adjust for cash it's 4.2, neither seems cheap as some have said with Rh still falling. Still no signs at all of any buybacks. QED
I think PGM metals will grow down for some time. Inflation is slowing down. Money supply shrinking. Until they start printing again which is a matter a time share price will I think go down. I am down on SLP but I believe I company and I should rebound unfortunately I think I may take 2 years or more
Interesting article, Nutmegmilk, but I would take the claimed lifetime range of 4 million km based on 4000 charge cycles and a range of 1000 km per cycle with a pinch of salt. Battery capacity degrades with time and is typically only about 80% of the “new” capacity at the end of the useful life of the battery. Nevertheless, such a significant increase in the range per charge would make a big difference to the usability of battery electric vehicles.
Https://www.independent.co.uk/tech/electric-car-battery-life-record-b2345504.html
Dividend payments have nothing to do with the share price, but based on adjusted free cash flow.
The Board has reviewed the Company's Dividend Policy and effective 1 July
2022, the New Dividend Policy will be able to pay out a minimum of 40% of
adjusted free cash flow for the financial year. Where annual dividends are
declared, these will be paid in two tranches with an interim dividend equating
to one third of the forecast full dividend and the final dividend equating to
the remaining unpaid balance of the minimum of 40% of actual adjusted free
cash flow. The payment of dividends remains at the discretion of the Board.
Trouble is the PGM basket price continues to fall and SLP have no other product to sell.Tharisa for example produce a lot of chrome whose price has increased while PGM prices fall and Jubilee have some chrome exposure and are ramping up copper production.
Nearly all experts are predicting large platinium deficits but the current platinium price is not reflecting this or the current production problems encountered by miners in SA due to load shedding.
The danger is, as the share price continues to plunge, the Directors will ask themselves whether they need to pay such a high dividend. If the divident were halved to yield about 5%, the yield would still be relatively attractive. What would such a dividend cut do to the share price, though? Given that the share price seems to be on a bit of a downward spiral at the moment, the answer might be "not a lot - the spiral will just continue". How can the spiral be arrested? Well, the only way to encourage buyers is to increase the dividend, which seems unlikely to happen, or to provide some news that the market finds attractive. Let us see which, if either, happens.
Nice find! 10% yield at current share price, almost (and soon to be) inflation beating :)
Looks like 350k bought today
Did someone say the broker won't buy any shares at the current price as it's not good value and if they do spend money it will be for staff buybacks..........alternative is to get ST to feature it and provide liquidity to the seller in the way of IC readers.....nice one pr people ....QED
Yes, ST normally give this a kick once a year on the PE
Heading down.......