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Read THE FULL YEAR
Paul Langworthy, CEO of 7digital, said: "Following a successful initial term, we are delighted to be expanding our contract with this global technology company on an extended term. This is a major validation of the global scale and reach of our platform, which makes it easy for brands and enterprises to deliver music anywhere in the world to millions of users and is helping to drive growth in the industry. Additionally, the longer-term contract provides us with improved revenue visibility going forward and contributes towards achieving positive EBITDA for the full year."
I’m on the running machine all morning with the sound off……
Nice easy to read summary showing that no 'Company is an Island' I'll go with the last paragraph because cars are still being ordered and for a lot of models there's up to a 6 months waiting list. 'Governments' are opening new Fabs from India/Thailand and Arizona and I believe there's a redundant Seimens factory in Newcastle, there's one in Grimsby too but that's a different kinda chip. The simple economics are people want cars and people want work, so employ more people to make semiconductors. To Governments is like the race to the moon only this time SLP will get the Buzz. read on from Business Maverick ''
“Rhodium accounted for 53% of total PGM exports in the second quarter of 2021, which was mainly destined for the US and the United Kingdom (UK),” Sarb said.
This is pretty astonishing when one considers that rhodium accounts for only about 7% of PGM production in South Africa.
Rhodium is a key ingredient in the emissions-capping catalysts used for petrol engines, and earlier this year available supplies were woefully short to meet demand that was going through the roof as the auto sector geared up for the global economic rebound from the pandemic-triggered meltdown in 2020.
Rhodium’s price in late March reached almost $30,000 an ounce, a record high which made it probably the most valuable precious metal in history. Four years before, it had been fetching less than $1,000 an ounce, according to data compiled by Johnson Matthey, a catalyst maker.
This is why, despite only comprising about 7% of the PGMs mined here in terms of production ounces, rhodium accounted for 53% of PGM exports in Q2. It certainly has been punching above its weight, and its price has played a significant role in the record surplus on the current account of balance of payments and trade surpluses that South Africa posted in the quarter.
This also explains why the rand was punching above its weight until its recent downturn.
But rhodium’s rave is now fading into a more subdued kind of party.
Its price is now around $14,500 an ounce, a little less than half of its record peaks. This is because of a short-circuit in global supply chains, which has resulted in a shortage of the semiconductor chips used in auto production. Less car-making means less demand for rhodium and other PGMs.
Once those supply problems get rectified, demand may well roar back, and rhodium will be in the spotlights of the rave once again. ''
Elpro
This however looks very handsome especially ir and ru compare todays price with last years 1st quarter price ad you'll see the basket price is actually higher;
Platinum, Palladium, Rhodium, Iridium, Ruthenium
Daily prices between 14 Sep 2021 and 15 Sep 2021
Platinum average: $954.00, Palladium average: $2,026.00, Rhodium average: $12,550.00, Iridium
average: $5,000.00, Ruthenium average: $685.00
Platinum, Palladium, Rhodium, Iridium, Ruthenium
Monthly Average prices between 01 Jul 2020 and 30 Sep 2020
Platinum average: $912.75, Palladium average: $2,191.99, Rhodium average: $11,118.97, Iridium
average: $1,645.00, Ruthenium average: $270.00
Average basket price 1st Quarter 30/9/19 $1654 =net profit $12.5m
1st Quarter 30/9/20 $2834 = net profit $21m
1st Quarter 30/9/21 $2978 =net profit $18.5m inc Lesedi shutdown
Todays basket estimate (PL $954 PD 2026 RH `$12500 ir $5000 RU $685) = $2311 so current profit $14m a quarter including Lesedi shutdown - due to reopen October.
and if Ed Croft says it
"Recent share price weakness comes as a result of softer palladium and rhodium prices (down 19% and 43% respectively on their record 2021 peaks), which have caused a drop in Sylvania’s average basket price on a quarterly basis. Importantly though, these markets are still forecast to be in deficit this year, the medium term outlook is favourable, and Sylvania remains hugely profitable at current spot metal prices. Its average basket price for FY21 was up 83% year-on-year to $3,690/oz - nearly five times group cash costs of $755 per oz.
There’s no doubt the shares look cheap - the forecast rolling PE ratio of 3.1x reduces even further after adjusting for cash to just 2x - but how certain can we be that SLP is in fact cheap, given the degree to which profitability is driven by commodity prices? The company has demonstrated that its results - and its share price - can be volatile in the short term but medium term PGM drivers remain positive and the group is forecast to generate nearly one third of its current market cap in free cash flow over the next year alone."
Doornbosch Producing 25,000 tonnes a month
Lanne Producing 36k tonnes a month
Tweefonten 25k t p/m
Mooinooi 60k p/m
Thats 188,000 tonnes a month and some say we're not producing - Lesedi is temporary stopped but that happens all the time til the water is cleared its a regular safety precaution - look at the history.
Sorry I calculated backwards from the cash position of $101m so including Dividend paid and Capital expenditure but as you say post tax is approx $97m
Q1 2021 Net profit of $20.1 million
Q2 2021 Net profit of $20.33 million H1 $40.43
Q3 2021 Net profit of $41.32million
Q4 2021 Net profit of $14.73 million H2 $56.05
Total Net Profit FY $96.48m
Perhaps the 9 years was taken from the Website, however it was put there as a positive giving investors a great outlook for at least 10 years and beyond. At $45-$100 million net profit a year without any exploration costs, they won't need to go exploring like a dog with a bone in a river. Quote from website
"The SDO (Sylvania Dumping Operation) has exclusive rights to reprocess mine arisings and tailings dumps at current host mines, with a profitable operational life of approximately ten years, depending on the operation, and with potential to significantly extend the operating horizon as mining resources are continuously being converted to reserves at host mines."
What they DID NOT say was
Investors there's nothing to see here please move along we've only got 9 years left
Just a few words about what happened recently to TSG, it was a well run profitable Company with increased profits year on year, making new discoveries and about to hit their biggest vein yet and suddenly had a disaster an accident involving death. Their shares tumbled far more than the Pi sell off deserved. The price collapse was based on fear, fuelled by speculation on BBs of massive fines . The mine reopened and the sp recovered somewhat but well bellow it’s value, it was sold and an offer was accepted at 17% above the price and what a bargain the buyer got. The fundamentals were there solid as gold but the pi’s were worried after the price collapse to fill their boots again and lost out heavily. When SLP recovers to £1 I think many will sell and keep this down and then if like the TSG buyer makes an offer of +10% it will look good. At 88p this is being looked at ……this stuff in the ground isn’t going to disappear and some countries take a long term view. I’ve been topping up at every fall down to 85p from 115 and will continue to top up following this up to 100….. and then wait for the offer or just collect dividends.