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Posters criticising Bangrak should do themselves a favour and look back at his posts from the past few years on here. He has consistently called the share movement correctly and has supported all his views with solid analysis whereas most everyone else thinks the price will go up simply because it was higher a while back and Simon Thompson says it will.
Following his logic has made me and saved me significant returns and we should be grateful he continues to post here even if he is out of the share right now.
I exited all my holding at 70p this past week. It doesn’t mean I don’t believe in Jaco or the long term future of the company or the likelihood that pgm are likely to rise . It is only that I think the chances of me being able to buy back in at 55p are infinitely higher than they are of selling out at 85p in the next few months.
Thanks Bangrak for your extremely gratefully received posts here.
Agreed
I really do not understand the negativity here when SLP in a depressed market still manage to turn out 13% net profit margin. In tech, that would be the EBITDA target in certain sectors!
I will happily take the £500 divi and reinvest the lot here, for the long term.
Well-managed stock with trustworthy Directors are like rocking-horse sh*** in my experience and this factor gets completely ignored.
Ignore the naysayers, trust Jaco and Team and think long term is my suggestion.
But each to their own.
Thank You again SLP - you continue to impress!
If you not invested why are you losing your time on this board? You life must be a disaster :) Get a holiday :) or find a hobby :)
you are complaining and moaning since it was 50p and now is over 70p , you could make a 40% gain really easy but it seems you lost the train ; stock market does not wait for you!!
These results included the February industrial action also remember.
PGM prices have intact risen along with rhodium in the past 6 weeks or so.
These results included the February indu
Are you invested here bangrak? If you are, I hope you exit today and cease with the moaning.
When the SP was 50p you were insisting on waiting for it to go into the 40's but it never did and now it's reached 70p despite the poor basket price and AISC margin. I hope not too many people were put off investing because of your doom and gloom. This is a well run and managed company with positive cash generation and a pile of cash despite the current low basket price.. think of the opportunities and the potential share price when PGM's start rising again.
Costs are increasing look at the margin on AISC in relation to the net basket, they are not making adequate reductions in costs. This will make no more than $8m net this year placing it on an EPS of 2.5p, it's trading on a PER of 28. It's not cheap and its got pumped up by inaccurate broker guidance of $33m and trading systems, I'd seriously have a think about waiting for this 1p, unless you trade the entire lot you're not going to gain anything here. Right how many run for the exit today?
Pretty good results considering the basket price and the strike. And really refreshing to see the company return cash to shareholders by way of a special dividend. Good on you Sylvania!
A special dividend of 1p, that's good. Great cash position, full year output guidance maintained. GLA
I thought Q3 earnings are today?
Agreed, bangrak. I'm an investor in both BHP and AAL.
I like metals and oil & gas. London listing in that space finally getting a little bit of love.
I'll certainly reconsider buying here too, maybe you might too. Just with ex-cash PE at about 15 and the strong possibility of a dividend cut to zero, this is far too richly valued right now. It's a single-strategy commodity processor in SA, after all. Great exit price here before the Q3s drop.
Hi CYB,
The structure of the BHP AA offer indicated where you should be invested in the commodity sector. The parts of AA not wanted says it all to me and confirms my view that the transition metals are the place to be.
6.98% rise today. This SP used to be in the 100s with a decent dividend not too long ago
SP on the up ahead of Monday's qtr 3 update, bodes well IMHO.
GLA
I agree, bangrak.
It may be a while away, but when Ivanhoe brings phase 2 of this project on line, that could be a significant driver of global PGM supply.
https://m.youtube.com/watch?v=jbb-O6KOFbQ&feature=youtu.be
Ben @ Liberum said this on the 25th Oct which was 2 quarters ago, Rh was $4700....
"We believe that the rhodium price will lift substantially in the coming quarters (Commodity priceDECK (61 pgs)) as destocking by glass fibre and automaker OEMs comes to an end. There is further upside risk from supply disruptions in South Africa and Russia"
That seems to justify Ben maintaining a ridiculously high net profit for 24 which IMO has been impossible to attain for 6 months without $13k RH for the last 6m. In Q4 and FY it will be interesting to see how they cover this. When the net comes in below $10m and you have given $33m you look incompetent and also untrustworthy, a bit like that bloke at IC.
I expect a profit marginally higher than Q1 or Q2, but only marginally (on account of Rh having nudged up a little).
Profit for the year is heading for around USD8m, bar any exceptionals.
This is a pretty easy share for which to estimate value.
It's going ok.
Read the 4th March buyback note for the various restrictions Liberum have to abide by.
Just need the basket prices to keep on rising.
I believe it would be fair to say that the directors of the company are in the best position to know the true value of the shares of Sylvania Platinum hence its a little concerning to me that the board does not appear to believe that the shares are worth more than sixty pence a share hence they have only made share buy backs when the shares have been below that figure.
Appears to be a industrial recovery underway in China and USA which will help boost the value of companies involved in PGMs. I'm up 20% since buying back-in on 20th March. SLP, JLP, and THS have all started upwards since 4th March. Non UK companies such as Anglo American AAL and Sibanye Stillwater SBSW are behaving similarly.
.
Not surprising with the buy backs going on supporting the share price.
The underlying RH price looks stable at 4,750 or thereabouts.
Be nice to have some news on the projects as that is the only internal catalyst that can move the needle here IMHO. SLP have sat on those assets for over a decade now. Perhaps Jaco realises that exploiting those commercial rights is the only way for growth, the recent history (spike in Rh) simply being a distraction albeit a welcome one, it was only ever going to be a white swan event.
Time will tell...
Earlier this week we have broke out from the descending channel. Yesterday retest to the trend line and today we are bouncing off. Very nice. This could move up quite a bit over the next few weeks, unless PGMs retrace.
Cash plus 4-5 times projected FY24 net profit gives a share price in the low-to-mid 40s. Add 5 pence for sound management and potential growth in ounces produced. Deduct 5 pence for country in a big political and financial mess. I still end up with FV around 43-45 pence.
That's one opinion, another might be that buying back shares when the SP is significantly below NAV is good for shareholders.
Rhodium might never spike over 20k again, but it has done suddenly in the past (more than once), so you never know.
You pays your money and you takes your choice.
Good Luck to all holders.