Member Info for EdwardSeaton

shadow1234 - why would you not assume it will be the same as last year (which you can see on the diary tab above)?

Yuri.F - what are you talking about? They don't have bank borrowing. And if they did, it would form part of net cash.

pedro61 - yes - we are ridiculously close to a point at which an enormously profitable company is worth less than its cash.

My best estimate is that it currently holds 815pps of cash, so the business is currently valued at 200pps, or £270m.

They said cash was £19.8bn ZAR as of 30th November, so around £930m/$1.1bn.

I think that is a much too euro-centric explaination of what is happening, Beza.

China alone consumes 15 times more coal annually than the whole of Europe.

India consumes 3 times more than Europe.

If there is any one thing that is knocking the price of coal at the moment, it is that the Chinese economy is very very much weaker than the ludicrous official CCP figures suggest.

A Price/Earnings of 2 is funny.

A price/dividends of 2 is... I don't know what the word is.

With a Market cap barely above cash, you could now buy the whole company for nothing.

Who would have thought that you would be able to buy a share at a price you would recover through dividends in less than two years?

I've never come across such a remarkable situation before.

You do understand, AlexHodler, that the delivery problems have been caused by striking employees of State owned Transnet? And then by gangs of thieves stealing railway track?

I can't begin to see what Thungela are supposed to be doing about that?

For the sake of amusement, go on then AlexHodler - how is a private company supposed to invest in a state owned railway company?

Perplexed. What mistakes do you believe the management has learned from?

Alexhodler - I have to ask what on earth possessed you to invest here?

There is nobody on here who thinks any of the miners earn the benchmark figure each day. I don't know why you think otherwise?

Pedro - for the good of your health, you need to cut out the background noise.

The thing of interest is what this will do for us over the next 12 months plus, not what will happen between now and 5pm tomorrow.

Really this is a forum for believers that this is one of the most spectacularly mis-priced shares in history.

We've already had £3, so I'd say £4 would be a bit disappointing.

But yes, it is insane - possibly too insane for people to comprehend.

I wonder what the nearest equivalently crazy share is?

(Bisichi plc is much more absurd on a PE basis, but yet to unleash the dividend that it could easily afford)

Pedro - with nerves like yours, I strongly suggest staying far away from South African mining companies.

I might suggested a building society savings account.

If you are worried about Thungela costing you money, I seriously have to ask - what doesn't worry you?

Come dividend payment time in May, they will have maybe £1.3bn in the bank.

£5 would cost £670m, so yes, perfectly possibly.

An £8 dividend off an £11 share - hilarious.

On the contrary - the lower it goes, the more spectacular the dividend gets.

Imagine a sub-dividend share price. We're not far off.

pop31 - you are getting yourself unnecessarily sad.

As of June 30th, they had 15bn ZAR in the bank.
As of November 30th, post dividend, they had 20bn ZAR in the bank.
By your calculation, at 31st December, they had 22bn ZAR in the bank. I agree with that.

For what it is worth, I don't think the markets have any idea how to rationalise such enormous dividends, so categorise them as 'too good to be true', even though they are true.

As it is, we can pretty much guarantee to be buying a 25% dividend in May on any share bought at today's price. So if the share price goes absolutely nowhere over the next 6 months, that is a quite incredible return.

pop31 - you keep saying that the cash pile is only valid until paid out at the next dividend, but this self evidently not true.

They do not pay out all their cash via dividends. The last dividend was paid out in October 2022. At the end of November, they had £940m sitting in the bank. By the time they pay the next dividend in May, Christ knows how much there will be.