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Palladium has moved up significantly over the past couple of days may go much higher on Monday

Anglo Eastern going into the FTSE 250, do you guys have any idea as to what amount of Anglo shares will be acquired by FTSE 250 tracker funds etc

Hello people, maybe some bullish news for palladium shortly, Sibanye filed anti dumping and CVD claim to US DOC in regards to Russian palladium. Check it out may result in duties on US imports of Russian palladium, rerouting global supply along with other factors contributing to a rise in palladium spot price. The first important date is the 15/09/2025 for the ITC prelim.

Very good annualised net cash flow over the years relative to mcap, not many fundamentally sound companies on the market ,never mind fundamentally sound companies that you can buy cheaply like Anglo Eastern, decent rise in share price over the months and good business with effective management yet the forum is very quiet, maybe the stock needs highlighting ie bringing to the attention of investors.

Thankyou Huxl, is it possible to find the outstanding value of the deferred stripping asset (waste costs capitalised).

Thank you Hxul,can you also help with this,

Question 1 ; What costs to acquire the $200m mineral right have been capitalised .

2; Why Karo share purchase never listed as cash outflow on cffa.

3; Should they really be capitalising borrowing costs and is this indicative of excessive capitalisation?

Question in relation to depreciation, 2025 interim page 34 note 11 (ppe) H125 depreciation of 21m and FY24 of 54m, yet page 30 note 8 ( other operating expenses) depreciation for H125 2m and FY24 3.4m. Can someone explain the difference,shouldn't all the depreciation be reflected in the latter.

Question 2; Page 35 refers to capitalising borrowing costs ( really) opinions on such please and the deferred stripping assets ( capitalised costs) has anyone looked into whether they are being depreciated properly and if so can you point this out.

Thanks for the information and response.

Hello people, my analysis indicates that any entry below a market cap of £56.5m or 26.4p is good value. If we look at pfp over the past 5 years we have an annual average of $12.5m and average net cash flow of $6.36m, ( ncf defined as cash increase/ decrease on the scf with dividend payments added back in and any net borrowing proceeds removed) mid point between the two is $9.43m, convert that into gbp we get £6.97m, discount that by 20% we get £5.85m, times it by 10 equals £55.8m and to that figure make a upward adjustment of £0.74m to account for the net cash. Business has a strong balance sheet with current assets covering total liabilities by around 150%. We also have high insider ownership resulting in incentive to run the business properly. The business is just facing difficult conditions may the company successfully manoeuvre these difficulties and may the conditions become more favourable. Opinions on analysis and evaluation please.

The great times are now before us, peace very soon,then elections in Ukraine Zhevago is a great guy, Ferrexpo is a great company, no concerns over cash because if necessary many funding sources available, and soon we will see annual pfp of 870m just like we did in 2021.

Here is my analysis of CBG valuation please give your opinion and any adjustments you would make and why : Average four year pfp of 134m, average net cash flow plus dividend of 129m, the mid point is 131m ( PNCF), discount by 20% equals 105m (DPNCF) if the company was trading at a P/ DPNCF of 10 the mcap would be 1,050m, discount from this figure the 220m net debt ( net debt takes into consideration proceeds from AM and WF, and 110m FCA payout entirely covered by FY25 profit) gives us a value of 830m, any buy below a 830m mcap is great value. If we look for a fair price to sell at we look at P/ DPNCF of 15 ( 1,575m) minus adjustments 220m equates 1,355m. Give opinion's please.

An investment in Ferrexpo is an investment in peace, very good times ahead very much peace no more dead.

Correction to numbers in earlier post:

$65m is $60m, 650m is 600m, 971m is 871m, 1.24b is 1.17b.

Hello people, looking very closely to determine warranted business value and what follows is my most great and helpful analysis: Four year average pfp (attributable shareholders) of 67m, minority holders entirely bought out in 2023 so on that basis average pfp 77.1m, if we annualise and include the recent H1 pfp we have average pfp of 80.9m, equating to a 809 mcap if trading on a 10 PE. The second metric to look at is what I term net cash flow (defined as annual net cash increase/ decrease in cash and Ce with the dividend payment added back into this figure) therefore average net cash flow over recent 4 year of 31.4m, if we add back in the 90m spent on buying out minority we have average NCF of 53.7m, if we annualise and include recent H1 NCF we get an average of 67.8m equating to a 678m mcap if trading on a NCF of 10. If we discount both the average pfp and NCF by 20% we get 55m and 74m respectively and the middle point between the two is 65m, therefore from an owner's perspective nobody should be allowed to buy into the business for less than 650m, furthermore we must add the 244m cash and 27m investments assets to that figure equating 971m, therefore it makes no sense for an owner to sell below 971m. If we price the business on a PE/ NCF average of 15 and include the cash and investments figure we end up with a valuation of 1.24b (a fair price to sell considering great balance sheet) . Please give your opinions on this analysis.

Hi guys great news, great opportunity here, if we look at annual profit over the previous 5 years, it averages $70m / £51m and therefore if the company was trading at a 10 PE according to that average, the sp would be 1207p. In addition to this Anglo eastern has the best balance sheet i have ever come across ie total liabilities make up 7% of total assets and 14.7% of acid test current assets and there is no debt goodwill or intangibles, the company is sitting on a significant cash pile and the majority of shares are held by a few individuals and it appears that the companies properly aligned with the shareholders. Enjoying the recent rise here and according to fundamental analysis a much higher share price is justified.

Monday share price predictions 600p?

Excellent update Half Year gone up 17% this morning

5 August

Analyst call 1600 in July, month full of announcements supportive of UK housebuilders and BOE rate expectations to be updated to be lower than previously expected.

Platinum breaks 1400, very happy would like to see bull run in PGMs, and if so Tharisa sp 130+. And Karo pays off .