Member Info for artrader

Why the worry?
Rhodium price in June over the past 5 years (excluding the 2021 curved ball)
2017 $981
2018 $2254
2019 $3161
2020 $8475
2022 $13450
Now thats what I'd call inflation

I keep averaging down ....... but so does the sp

Very strange decision as I was taught this at school ….If you take a negative (-) and add another negative (+) (-) the negative overrides and the original number will become a higher negative number.
So if you take one loss making company and add it to another loss making company you get less than half of nothing…. rather than all of nothing so I think we’re all better off?

WOT NO buy backs yesterday - they are trying desperately not to move the SP until they've vacuumed the floor (pun intended).
bonker - talking of fuel cell production I've been acquiring CWR from 1200 to 570 waiting for the big day when this turns again into everyones favourite just like SLP

I agree with hedged $27m net profit - basket average to date approx $3300 although currently nearer $3000 giving a quarterly average of $3224 (67 x 3300 + 24 x 300 divided by 91 days). If the basket remains at the current level of $3000 then its also looking good for next year as production will be much higher than this year. No worries here and a sure dividend to come. Theres approx 3.5m shares still left to purchase in the buy back programme if they continue to buy so it should be interesting to see if there are any purchases today now its 92p.

Quiggers- Net current asset value per share at 40 pence ?
What about the £150m in cash !!

The fact that the sp has not risen above .89 since the buy back began demonstrates that this is currently the ceiling, however it has fallen to .87 and during this low level very few shares were bought back by the company therefore they made no attempt to prop up the SP but others swooped in at that price (including me).
I'll take your floor of 50p and raise you to a floor of 87p

Chat - Don’t you mean what will happen once the artificial ceiling is removed?

There’s no benefit in raising the SP at the moment to make the Company spend more of our cash as the assets. would be reduced. It is better for the Company to pay less than the shares are worth and that once they have spent the $8m then the SP goes up and up which I am sure it will at the end of June. At the end of June taking into account 4th Quarter profits of $25m less share buy back the net asset value of each share will be approx $1 and that doesn’t include what’s in the ground. So let them buy at 89p and look forward to £1.25 in July.

I think they will definitely have knowledge of the increase in production that they've been diligently informing us about
''PGM feed grades in ROM material remain at a lower level at the Mooinooi operation during the quarter: Investigation of potential solutions undertaken in conjunction with the host mine have proven positive. Preferred ore sources have been identified which have led to improved ROM feed grades post quarter end. This is expected to improve PGM grades and therefore production and output in the coming months'' and 'Production is expected to increase significantly during the next quarter due to progress at Lesedi and the improvements identified post quarter end at Mooinoi'' and ''SDO cash costs are expected to improve during Q4 based on higher projected ounce production." and finally "I am expecting a strong operational performance from all operations during the final quarter of FY2022 based on initial positive results at Mooinooi to improve ROM feed grades in collaboration with our host mine, and at Lesedi, where production is expected to increase significantly during the next quarter as feed is stabilised and the MF2 circuit optimised. This should enable us to achieve the target production of 66,000 to 68,000 ounces for FY2022 as communicated earlier."
Let me know if you still need further hints.

Interesting how the share buy back is unfolding, they have approx £5m more to spend having purchased and cancelled 1.87m shares since the 9th May. What strategy would you apply to spend the £5m? remembering you have to play by the rules ; you cannot exceed 25% of the daily trading volume and your buying price must be higher than the last trade and you have up until 30th June to spend the £5m.
Alternatively how as an investor would you try to manipulate the Company into increasing the SP? (Its for fun and I'm not asking anyone to actually manipulate the SP) but I'm thinking leapfrog.

It wouldn't take a lot and I'm thinking of buying it myself. I'd borrow all the money as I'd be getting a cash pile of £150m in the deal so so I'd be able to finance a loan for ten years and have £50m coming in every year. I could buy EUA on day one too!

''The purpose of the Share Buyback is to reduce the share capital of the Company. The Share Buyback will be done under the terms and authority of the Company's Bye Laws and all Ordinary Shares purchased will be cancelled''
This means that the net asset value of each share will be worth approx $1.00 at the end of the year with approx 264m shares it was 73cents at the year end but with the reduction in shares and the $70m+ net profit this year added it make this a takeover target of arbitrage proportions at 87p.

Won’t the shares bought in be cancelled meaning less shares in the company meaning higher actual value for shareholders.

Maybe someone is taking this opportunity to convert some of their holding to cash whilst given the opportunity not to lower the SP?

This is a repeat of the past and it achieved everything it set out to do. Besides making $20m a quarter what else could they do to stop someone snapping up this cash cow. Directors also have an SP target to achieve to earn their extra shares I think their next ones vest at 115. Should be an easy target when the 4th quarter shows $25m-$30m net profit. All things being equal.

Takes me back to Laura Ashley days; I believed in the brand and followed it to the bottom. Meanwhile Next rose from the ashes after George Davis was replaced and got back into what they knew best. Which way will Joules go? Will it ditch the tacky expensive garden pots and do a Next?

I like the confidence that Q4 will bring in $60m of net earnings. Production of 18,000oz @ a basket price running higher than Q3 - Prinsloo has obviously seen Aprils production figures and we know that the PGM basket price is running higher. Rh in q3 was averaging $18061 and in April $18,900.
Who else is thinking that PGMs are too low at the moment ?

Velo
Feed sorted
''Investigation of potential solutions undertaken in conjunction with the host mine have proven positive. Preferred ore sources have been identified which have led to improved ROM feed grades post quarter end.''
Lesedi reopened in March so more to come.

6p a share earnings in a quarter and they will do better.!!!!!’