Member Info for Cartmelmare

Just had another grab for the falling knife (22.97)

I believe so and have acted accordingly. Looks like a combination of lazy market pricing and the tree getting a shake. Belluscura is off 8% so let’s dish out the same treatment to Tek. Except the spread on 1 is under 1% but over 4% on the other. So maybe Belluscura is only really down 3%? Who knows. Anyway I can’t be @rsed valuing the other 3 primary investments so I won’t bother considering them. Just give the tree a shake anyway. And guess what. I got myself some fruit!

Director / Investor loan account to the Company? They don’t have to pull the cash immediately?

Already given it hasn’t he? SP went from 88 to 103 on the back of it.

Germany is getting its beach towels ready:
https://www.miningweekly.com/article/southern-africa-part-of-germanys-platinum-boosting-green-hydrogen-strategy-2021-08-02/rep_id:3650
With November’s summit looming, Southern Europe on fire & Northern Europe flooding on a daily basis PGM prices are headed one way only. I also think that the rhodium price has found its new floor for the medium term and that the $ price will begin with a 2 within the next 10 days. GLA

Thanks for the clarification Chatmandu. Sincere apologies for my misplaced scepticism.
The way I see this share is that rhodium can only go up in the next 12 months. Climate change has to be tackled urgently. Economies have to reopen - we can’t hide from COVID forever. However I must admit I thought the game was already won back in Feb/March. How wrong was I….

Would you care to tell us a bit more about yourself? No pressure. Your profile just doesn’t add up for me. You’re clearly very intelligent & knowledgeable. You joined about 4 months ago. Made 1 very ambiguous SLP post re buys /sells. Then off the face of the earth for 3 months. Rhodium tumbles, SA unrest and boom - there you are. From non poster to alarmist activist.
You do indeed have skin in the game. By my standards a whole body’s worth! No other holdings? No other posts in respect of those other holdings? Yet fastidious (& precise!) with all your recent SLP postings. Always calm on your part, but with a negative & cautionary undertone. Just doesn’t add up IMO. Care to enlighten?

IC152 - hang in there if you can. SLP has a rare asset that the world (car industry) needs. Unfortunately those pesky chipmakers threw a spanner in the works but that has just delayed the inevitable.
Chatty (French pronunciation) - tbf you’ve certainly upped your game. Pathetic initially but much improved now. How you kept a straight face when you said “cards on the table” I will never know! Appreciate it if you come clean once the fun and games are over?
If necessary, (hopefully not) I’ll have another go at catching the falling knife at 89p.
GLA.

I didn’t say they are worth £2 at present. I believe demand and supply of rhodium post the November Climate Summit will push the price back over $25000 in the next 9 months. This in turn should, all other things being equal, move the share price towards £2. In my opinion, last weeks events in Germany were far more relevant to the SLP share price than events in South Africa. No spreadsheet. Just an opinion.

For anybody who might be questioning their holding - a quick summary of where we are:

Troubles substantially reduced TICK
Troubles never came near our house. Nor will they. TICK
Global warming worsening TICK
Rhodium in very scarce supply TICK
Rhodium essential to reduce vehicle emissions in short to medium term TICK
We’ve got p00loads of it TICK
Rhodium price stabilised at a beautiful $19000 TICK
RECORD annual results due imminently TICK
Significant favourable exchange rate shift TICK
World Climate Summit in 3 months TICK

SLP shares are worth way more than a quid. The only think that DELAYED an inevitable assault on a SP of £2 was a shortage of vehicle microchips. So if you’re feeling feint hearted HOLD. For the brave amongst us who have a bit of spare down the back of the sofa GO IN again. One things for sure - you won’t be buying any for a quid at the start of next year! :D

Last 5 days:
JLP +1%
THS -1%
SLP -12%
Is our gear easier to steal?

Why is SLP getting beat up so bad but THS & JLP not so much? Is it cos SLP stocks are more “accessible”?

The consistent pre-tax profits recorded over the past four financial years also highlights the value creation for shareholders. In the 2020 financial year, Tek recorded a 23 per cent return on invested capital (ROIC) and 27 per cent return on assets (RoA).
Moreover, if you mark the stake in Belluscura to market value and factor in the recent post-money fundraises for Salarius and Lucyd, Tek is set to report another record NAV at the forthcoming interim results to 31 May 2021. I estimate NAV of $47.3m (including intangibles of $0.8m), or 25p a share, buoyed by $8.8m of investment gains on Belluscura and $1.7m uplifts on the holdings in Salarius and Lucyd.
NAV could be even higher as I haven’t factored in any revaluation of Guident which could prove to be a conservative assumption.
Tek Capital's portfolio fair value estimate
Portfolio company
Carrying value 30 November 2020
Estimated carrying value 31 May 2021
Value per share
Proportion of shares held
Guident
$22.1m
$22.1m
11.9p
100%
Lucyd
$2.7m
$3.8m
2.0p
100%
Salarius
$3.6m
$4.2m
2.3p
97%
Belluscura
$2.1m
$12.6m
6.8p
15%
Smart Food Tek
$0.04m
$0.04m
0.0p
100%
Portfolio fair value
$42.7m
23.0p
Convertible loan notes held
$0.8m
0.4p
Net cash
$3.0m
1.6p
Total net tangible NAV
$46.5m
25.1p

Hi DJ - I don’t like to post full Alpha reports as I don’t want to pee full IC subscribers off. However happy to give you snippets of 20 page doc. Sure somebody will post in full here in next 24 hours.

Target price 25p
There is a compelling case to be made that Tek Capital should be trading in line with NAV given the management team’s outstanding track record of value creation over the past four years, and the strong likelihood of further significant valuation gains materialising from portfolio companies. The forthcoming half-year results in mid-August are likely to act as a strong share price catalyst to narrow the unwarranted share price discount to book value. Strong buy.

Tip (Simon Thompson IC Alpha Research)

Just issued a STRONG BUY recommendation and raised his target price to 30 British pennies.

Is the bottom line that it is just up to us to smash the *******s out of this thing?

SLP puts on 40% whilst Cinders doesn’t go to the ball?

Enough is enough. All indicators are positive.Rhodium has stabilised. Rhodium price could lose another 30% and all is good. The world needs our short supply metal. So let’s bulldoze them MM ******s, grab what ever stock they think they are in control of and move on.

Buy until you’ve run out of cash and can buy no more.

It’s our party. Let’s own it.

Hang in there Lucky. Patience will be rewarded. It looks like even the rhodium tide has turned. The seller must run out at some stage and if Rh goes back to 30k we’ll clean them out!

ST’s online SLP article never made it into the actual publication a couple of weeks ago. However it is finally in tonight’s digital edition. Fingers crossed it will be in the actual physical copy tomorrow.

Firstly Tharisa a big thank you for posting the results on here. Great communication with investors.
Secondly very well done on these excellent results achieved during extremely trying times.
Personally I am more than happy with both a 2% interim dividend and an ever improving balance sheet.
What’s not to like? Keep up the good work!