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This is why I rarely post lol
And if people are really determined to short something I'd be looking at TED, bit of a dangerous game to try it here.
Also to note - JLP are restarting operations (see their rns today for details)
Statement from Sibanye
Sibanye-Stillwater (Tickers JSE: SSW and NYSE: SBSW) notes the announcement by Anglo American Platinum Limited (Anglo Plats), regarding the temporary shutdown of its converter plants and confirms that it has received written notification of force majeure regarding the toll agreement between Anglo Plats and Sibanye-Stillwater’s Rustenburg operation and the Purchase of Concentrate (PoC) agreement with Sibanye-Stillwater’s Kroondal and Platinum mile operations. Sibanye-Stillwater’s Marikana and US PGM operations are not affected and will benefit from the commensurate short-term commodity price increases due to the Anglo Platinum supply disruption.
Anglo Plats has indicated that its converter plant will be unavailable for at least eight weeks, during which period the force majeure would remain in effect and it would be unable to fully process the Rustenburg, Kroondal and Platinum mile concentrate.
Sibanye-Stillwater has significant spare PGM processing capacity at the Marikana operations and at the Precious Metal Refinery in Brakpan and will be assessing how best to utilise this capacity. We are engaging with Anglo Platinum with respect to the various alternatives and will provide a further update once we have clarity.
Statement from Simanye
Sibanye-Stillwater (Tickers JSE: SSW and NYSE: SBSW) notes the announcement by Anglo American Platinum Limited (Anglo Plats), regarding the temporary shutdown of its converter plants and confirms that it has received written notification of force majeure regarding the toll agreement between Anglo Plats and Sibanye-Stillwater’s Rustenburg operation and the Purchase of Concentrate (PoC) agreement with Sibanye-Stillwater’s Kroondal and Platinum mile operations. Sibanye-Stillwater’s Marikana and US PGM operations are not affected and will benefit from the commensurate short-term commodity price increases due to the Anglo Platinum supply disruption.
Anglo Plats has indicated that its converter plant will be unavailable for at least eight weeks, during which period the force majeure would remain in effect and it would be unable to fully process the Rustenburg, Kroondal and Platinum mile concentrate.
Sibanye-Stillwater has significant spare PGM processing capacity at the Marikana operations and at the Precious Metal Refinery in Brakpan and will be assessing how best to utilise this capacity. We are engaging with Anglo Platinum with respect to the various alternatives and will provide a further update once we have clarity.‘
I have no idea - would be interesting to find out
This might explain it
https://uk.reuters.com/article/anglo-platinum-outlook/anglo-american-platinum-declares-force-majeure-cuts-2020-outlook-idUKFWN2AZ0HC
TBTT - Can you pop on here every other day or so and mention Platinum not doing so well? Up over 3.5% since you posted that!
I'm not sure that car manufacturers closing for a month would have much impact on the price of Rh / Pd as there is a forecast deficit for the year, it would probably be bought into by traders to stockpile to feed into the market when it is needed.
Any prolonged problem would obviously have an effect and Pt would also be hit (as indeed it is at the minute) as there is a forecast slight surplus.
China also have a history of propping up their economy when needed, I can envisage car mountains piling up over there!
Volume looks very low for this kind of fall.
I managed to pick up a very small amount, but was difficult.
Re Rh from the broker note (joker note as I like to call it)
‘More good news for JLP is that its ore contains more Rh and Ru than typical Merensky reef ore. Happy Days.’
I believe Merensky reef ore IR around 4%+ Rh so draw your own conclusions from that statement. (Some actual figures wouldn’t hurt)
Anyone figured out why they were in a rush to get the second ball mill up and running yet?
Still, should be ok if gold holds at this level or higher, they manage to get to decent LOM upgrades from the drilling and they don’t f up Dugbe.
Pd just hit another all time high, basket for Feb is going to be mega, also eskom have been putting out some positive tweets about the power situation in SA.
Roll on the next q results
I still hold a small amount of HUM, bought back before the last update after having sold up on the big slide down. I’m still not convinced about management there (nor the Dugbe vehicle) but it hopefully will start moving up a bit now, seems to have a bit of interest.
’May be they are both fairly valued at this moment‘
Maybe they are both undervalued at the minute. I haven’t gone in depth here (which looks quite difficult & time consuming) as I only have a relatively small holding at the minute but I’m far more familiar with SLP and (in my opinion) it’s still undervalued even after the recent rise.
Visitor - absolutely agree and thanks for clarifying the basket mix re other shares.
I (personally) was very overweight here and simply needed to move some cash for risk management purposes, I think this is still very cheap looking at my forecasts and I still have a very healthy holding.
Cheers Ragnar - Certainly look murky compared to SLP but I've had to take some off the table here for risk management (still hold a lot)
Cheers TBTT
Well I top sliced SLP yesterday and stuck a little in here for a starter position, so my timing was slightly off looking at SLP again this morning but still, cant complain.
Despite the fact that there seems to be alot of distrust of the BOD and that they are alot more diversified surely there should be some bounce here from the massive rise in PGM prices?
Whats holding it back? Or are you expecting people to sit up and take notice when some (understandable) numbers come in ala SLP?
Sorry to go off topic but TBTT you strike me that someone who may have an opinion on JLP
Cursory look says there is alot to dislike, but they also have had absolutely zero benefit SP wise from this rise in PGM prices.