Member Info for artrader

Rhodiums exploding lol

Just thinking aloud... if I was the owner of an AI enterprise and I'm already half way there as Ive just purchased the car number plate which is AI LLM, wouldn't I therefore go the whole hog and buy a PGM producer for the same price as 120,000 oz of PGMs at $3000 an oz? and then all the PGM's thereafter would only cost me the price of running the company. In 10 years I'd get 1m ozs for half the price as my competitors ........ doesn't £1.17 sound cheap?

Its a Sheffield Wednesday thing 'We're All Wednesday Aren't We' even though tragically they're going down unlike SLP today!

Wawa means goodbye in Sheffield but see you again in a season or two

3p is a good guess

If you look back to Q3 March 2021 a dividend of 2.25p was declared on similar revenue

Quote

· "Sylvania Dump Operations ("SDO") delivered 17,420 4E PGM ounces in Q3 (Q2: 18,363 ounces);

· SDO recorded $74.2 million net revenue for the quarter (Q2: $43.7 million);

· EBITDA of $58.7 million (Q2: $29.1 million);

· Net profit of $41.3 million (Q2: $20.3 million);

· First payment made to employees under the Employee Dividend Entitlement Plan ("EDEP"); and

· Cash balance of $102.1 million (Q2: $67.1 million). Post period end, the Company paid a one-off Windfall Dividend of $14.3 million."

They say that history repeats so I'll go for 2.25 too

Yeah my boots were full at £116 but I've bought another pair .....

Did I mention not only is Q3 on for $75m revenue but expect a nice dividend too

If you look at the messages from Quiggers and Matm Q gave you a link to Matthey and M the breakdown of the 6E prill split

So take the average figures over a given period from Matthey and multiply them by the split;

Average prices 1/1/26 to date Pt 2367 Pa 1837 Rh 10266 ir 6018 Ru 1409

6E prill split is Pt 52%, Pd 18%, Rh 9%, Ru 16%, Ir 5%

.52 x 2367 + .18 x 1837 + .09 x 10266 + .05 x 6018 + .16 x 1409 = $3011

So yes I absolutely agree $3000 you cannot disagree with the Math or most forum posters

Next take production of say 30,000oz at $3011 and you get a gross revenue of $90m x 74% for fees and you get $66.6m 6E revenue add the Chrome production and it gets to you up to $70m add $5m sales adjustment because the basket price is up so we are currently looking at $75m revenue Q3

Whats not to invest in? last Quarter $54m Q3 $75m Optimistic? No I've used actual figures

https://matthey.com/products-and-markets/pgms-and-circularity/pgm-management

If you are quick you may get on at £1.07

Thanks SeisNav

I wondered why Jaco sounded so confident only 25,000 tons a quarter to go but I still think he should move the workforce onto the iridium and rhodium production lines lol!

What I noticed about the Chrome info, or lack of it, was that in the Q1 report 4,545 tons were produced but not delivered so at $250 a ton that's the 1st $1m of revenue which should have shown in Q2. However the revenue was $0.649m but more concerning is that there appears to be no production in Q2 did Jaco put all his hands to work on digging out the Rhodium?

I'm not worried about this in the least as Jaco says all is OK and intends to produce 60,000 - 90,000 tons in H2 adding at least $15m revenue in the 2nd half year.

And just like that Ruth jumps her usual 100 a day and Rhod skips up another beat to 10.6k . The manufacturers have found out they can't do without Rhodium and it's oversold on paper and physical. The metal traders are on the scent as Chinese window makers tried Rh alternatives but they failed the test of time. It could go anywhere!

Average basket price for Q2 period was lower than todays price at around $2300

You will find when the basket price rises after the end of the quarter an adjustment to the invoiced price is made for those who haven't paid you will see it on the report as sales adjustment and is included in revenue (Q1 was = $4.654m)

On the other hand when the price drops they have to give a credit.

Interesting discussions re Q2 and one thing I've learned about is 'Payability' which is deducted from the gross basket price to get the net price and in the case of SLP it ranges from 70% to 74% over the last 3 quarters.

So my calculation for Q2

20,000 oz 4E at $2,300 x 71% gives a 4E revenue of $32.7m this added to By products of $14m and the adjustment of $6.2m gives a Net Rev of $52.9m and EBITDA $28m

Thanks as always for the figures SeisNav

I'm wondering if the 30,000 oz was inflated by buying in 'material' in the Q1 report it explained why the AISC had risen because of tax and quote "The main contributors to the increase were the increase in external material purchased to capitalise on better material grade" They may or not continue using external supplies but wouldn't be surprised if the production falls but the AISC reduces but I'm basing my expectations on 24,000oz with the usual AISC plus increased staff costs and higher electricity. If people are basing Q2 results on the current PGM prices they will be disappointed as the basket now is over $3000 and Q2 is an average of $23000 and I think that's why the SP hasn't caught up to your PGM line yet.

I've seen a few negative comments here about institutions selling, floods and results not being as good as expected its a funny old share and I'm hoping for a drop back on Q2 results to gather up more for the later dividend and then patiently wait for the 30,0000ozs at $3000 and $45m EBITDA

I had to wait to be able to buy for the last hour is this usual for this stock?

Oh! soz

Its looking good this morning in anticipation of the 2nd quarter results underlining the transformation of this share and of course the new life of PGMs pushing the price through 2026 to new highs.

GLA

Sorry smellmypen it was a very poor attempt at adding some humour to your negative post which coincidently was posted at the same time as another so called holder posted 'platinum tanking again' it looked like a collab to rock the SP but obviously not and I'm ready to hold my hands up and apologise yet again onwards and upwards

Why are you worrying about sales? they could be for all sorts of reasons: Blackrock's last sale was in October at 90p and the SP 3 months later is £1.13 they have no more idea than you and I (mainly you±) it could have also been Sheffield who could be cashing in to buy Sheffield Wednesday Fc WOOOOWA (Good long term hold if you can live longgggggg enough).

Newbies are always welcome but please remember we all know the price of PGMs and can see buys/sales .... this sp aint gonna be moved by sudden drops in Platinum or £125k sales its fundamentals are embedded in all long term holders .

Blackrock got it wrong

Its holding up because the 6E basket price is over $3000 oz with a quarterly production of 20-30,000 oz you do the math

Figures for Q2 due out in 10 days the basket was then circa $2300 most holders are not afraid of the daily swings and certainly not long term holders who are looking forward to the Christmas dividend payment.

Rhodium is keeping all its gains and if you are interested in buying metals take a piece of Rh

Perhaps it should have read

'Thanking platinum a gain'

The reckless comments always come back to bite BoRidly that said this will never get to a £1

but where are they now?

The basket is full and if Platinum goes any higher then JaneMtc go join BoRidly and Stand in the corner. Platinum is currently 2.5% up today 7.58% up this week 28% this month and a mere 164% up this year...... what's the antithesis of Tanks?

Baket calculations

Spot 4E .65 x 2390 +.23 x 1900 + .12 x 10100 = $3202

spot 6E .50 x 2390 + .18 x 1900 + .10 x 10100 + .17 x 1425 + .05 x 5700 = $3074

Rhodium continued upwards since my last calc breaking 10,000 as Luna predicted - now based on these prices 12p is a low estimate