I would expect its due to the recent dip in PGM prices.
Another thing that struck me is that they compared the SP increase from 2017 in THS / SLP / JLP but then went on to discuss the issues with the mine THS had in 2019, which accounts for the disparity to an extent, also comparing apples to different variety of apples as THS is actually a miner, with the added risk and reward / security of being so.
Still worth 40 minutes of your time I suppose.
It is actually a good video and well worth a watch, but agree with Visitor that they should have picked up on the BEE & refiner costs points.
Just started watching that video now, one of the first facts stated is that THS share price has not risen like the other PGM producers (SLP & JLP).
Share Price change 1/11/20 to 1/6/21
THS - 70 to 150 (+114%)
SLP - 65 to 140 (+115%)
Off to a good start!
Heres a link to an article Gold Panda wrote on Seeking Alpha in Jan 2020 rating SLP as a sell (I thought I recognised the name). SLP's share price was 38p at the time.
https://seekingalpha.com/article/4319791-sylvania-platinum-surge-of-palladium-and-rhodium-wont-last
SLP will produce around 100k oz on a 6PGE basis (they report their oz target in 4PGE) so not quite half the production of THS
Re SBSW & Hydrogen - I believe SBSW have just signed a strategic partnership with Johnson Matthey (JMAT) to provide materials for Green Tech research, both might be a good addition to a portfolio?
Re Full moon & equinox - spookily it was also a Triple Witching day on Friday!
Also to note - I hold SLP and THS and like both but tend to think THS is probably more undervalued at present, but IF that Ir number is accurate it means that SLP out performs THS on % of Rh and Ir in the 6E PGM basket.
Yes, they were literally fag packet calculations based on that document and the 6PGE Oz expected to be produced from the last half year report, the doc is obviously quite old but I think that split should be in the ball park.
Howdy TBTT, hope all is well. Yes I agree, it would be good to get some details from SLP on the ‘by products’ particularly as they are becoming a more relevant part of the basket as prices rise, could be argued that the Au is actually a by product at these prices!
Interesting document - I make it roughly 5.5% Ir, So a very rough 6E split would be along the lines of Pt 45k oz, Ru 22k oz, Pd 18k oz, Rh 9.5k oz, Ir 5.5k oz - Total 6E production of 100k oz PA
Re Rhodium price - might be that auto makers are stock piling which is what is driving the price up. Surely if (eg) Nissan decide they need (x) Rh for the year they might be buying it now to ensure they have the stocks in case of another Covid outbreak & possible supply disruption. IF this is the case then surely when they have their stock pile for the year they will stop buying & price will retrace.
Just a theory
Hi L2 - The list was floating about on Twitter but unfortunately I don’t have a copy
IG are increasing margin to 100% for a large selection of shares on leverage accounts (SB/CFD)
SLP is one of them, combined with results/divi announcement may be an interesting day.
I think they are angling to develop Volspurit, I have thought this for a while but permits seem to be slow, I don’t think they will announce it until they are ready to go but I think that’s why they are hoarding the cash and the language in the Q reports seems to be putting more descriptive details into Vol. If this Is the case then I wouldn’t be surprised at a smaller special dividend, but if it is a reduced dividend then I think they really ought to announce their intention at the same time (whatever it is)
I’m also not sure how the market would react to a large project and the risk that comes with it (I would be happy personally)
Great, thanks Visitor
Has anyone worked out the AISC for both the commodities. They don’t seem to report it as a headline figure.
‘Consultants have been appointed to undertake specialist studies in order to update the EIA and thus obtain the Water Use and Waste licenses for the project. Once the planning phase for these processes has been completed, key dates expected for the main deliverables will be shared with the market.’
To be honest I've just added and gone long on a spreadbet.
Is it great news? Obviously not but I don't think nationalising mining or higher taxation will be first on the list if the coup is successful.
However I do swear that this share is cursed.
At least we know why Dan hasn't been buying shares in HUM hand over fist, hes been savi6his pocket money up.
Great result for Betts.
Not for the first time this BOD has completely rode roughshod over PI’s, I’m disgusted but not surprised