Member Info for artrader

The unwavering support from the two major shareholders is a letter that expired in June2021. !!!!!!! THIS IS NO UNWAVERING this has wavered away months ago.
“The Directors are satisfied that the two major shareholders have demonstrated their intention and means to provide this funding as and when this is required. This has been represented to the Directors in a letter of support, at the time of the publication of the Group's Annual Report and Financial Statements 2020, from the two major shareholders in the Group confirming their financial support for 12 months from the date of signing the annual financial statements 2020, being from 30 June 2020.”
Where’s the new letter of unwavering support?

Look at this another way they are buying new business at the cost rate of £5.41 for every £
SALES £173,000
C.O.S £165,000
ADMIN £771,000
LOSS £763,000.

Is it me or have this made a mistake?
Sales increased by £173,000 and the cost of these extra sales were £165,000 so they made just £8000 gross BUT the cost of admin increased by £771,000 so for the paltry increase in sales of 173k it cost an EXTRA £944,000 …. This cannot be correct - This needs more explaining

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.

Hang on until the 1st quarter figures as even at todays PGM values they are well in profit imho

Cash and receivables at year end June totalled $174.75m add the last 2.5 months and it should be around $200m so thats Arbitrage isn’t it?

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."

Not producing???? What about the 188,000 Tonnes a month PRODUCING ......... thats a small f****g mountain
1 out of 6 for effort ...... 1 dump operation is temporary closed the other 5 are not.
Note temporary

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.

Sales adjustment for 4th quarter was reason for lower profit. Nothing at all to worry about. The 4p dividend says everything and the ship is on great shape.

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

Quick calc guide for the year
Revenue $202.44m
Operational profit $96.48m
Net interest $ 2.32m
Pre Tax Profit $98.80m
Post Tax Profit $72.64 m
Dividend paid $14.3m
Cash $101.1m
net assets $212m

I loved that scene when Paul Newman was throwing his baseball against the wall just to kill time……. bit like here today waiting for the great escape.
P.S I’m always get my Paul’s and Queens mixed up

I loved that scene where Steve McQueen went for a slash "Shaking the Tree Boss" ..... "Still Shaking it!"
I've added a new bit it goes "Topping up here Boss"

TSG perhaps or SHG