Member Info for MatrixObserver

Another thing that appears to be unnoticed is the eating through the pre-mined stock. LMI used to have 24months.. now 15months... Shafts being shut, all low hanging fruit gone.. Either no-one will want/need PGMs or something will give... SLP pretty well positioned, small but ready. MO

PGMs in ZAR are having a GOOD day... Pt over 13k, Pd over 14k, don't have Rh real-time, but around 17k at yesterdays close. Will keep an eye on LMI, but not think about entry for at least another 2 3/4 months... Much happier in SLP MO

Just out for End of Oct... Slight reduction of 0.01%... They'll probably need to settle prior to our hopeful ex-divi date, or will have to repay loaner the divi amount... At little ahead of oneself... ;-} Last few months (%) - Jun: 1.46 - Jul: 1.01 - Aug: 0.9 - Sep: 0.97 - Oct: 0.96 Good luck MO

In fairness... SLP have been very shareholder friendly, in comparison to peers... i.e. Lonmin, Massive dilution, JLP loans galore... Matrix has held both... Summary � Significant industry experience and proven track record in development and operations of tailings re-treatment operations � consistently delivering on operational promises � Shareholder-friendly corporate strategy � Operations generate positive free cash flow � Disciplined capital allocation and funding of expansion program from internally generated funds � No equity issuance since 2009 in a very difficult price environment, unlike various other PGM producers in recent years � Energetic and competent leadership � Low cost producer with one of the highest industry margins � Lower risk business model than primary miners due to nature of surface projects If you havn't gathered, matrix likes SLP :-) Good luck all

LOL... 66m GBP Market Cap... "PGM production increased 67% to 41,013oz (24,605 in FY10)" SLP have invested a lot of doe since 2007/8, hopefully the machine has been constructed, now time to deliver to stakeholders... Matrix liked SLP for a number of years now... Happy with his little position, will be holding and hopefully be rewarded for patience... Best wishes all SLPers

Ragnar, also agree with you on the share buybacks... Not a nice as a divi, but some buybacks make divi more affordable... and promotes improved SP. Matrix happy to see continued SLP buybacks and if continued PGM price strength, realised basket > 13,500 ZAR, then maybe little divi. Best wishes MO

Today's spot basket price (matrix always uses ZAR) : 13,883.64 On 30-Sep-2017 was: 12,661.83 (an increase of almost 10%, very dynamic PGM prices), I really think patience is needed for the divi and more realistic valuation... If basket stays around this price, I would also be disappointed if no divi FY2018. Good luck MO

Ragnar, One other important factor needing to be considered... ZAR v USD http://www.xe.com/currencycharts/?from=USD&to=ZAR&view=2Y Early 2016, was nearly 16 ZAR to 1 USD, recently 12 to 1, currently 14 to 1 The high rate helped mitigate low PGM prices early 2016. Best wishes MO

Good evening ragnarlothbrok and the_shareminator Thanks for the input... 22 months ago (Jan 2016), Pd was a lowly $500, Rh was < $800, Pt was < $900 Another thing that I have observed is the high Rh content in Chrome tailings (SLP = 13.5% versus Typical PGM miners, UG2 of 10% and Merensky of 3.4%), suppose it's best to have the highest percentage of the most valuable :-) SLP fairs off slightly worst in the Pd percentages in Chrome tailings, I suppose it all depends on what bit of the meteorite landed where.. Have a good evening all, MO

LOL was in Rands not USD ;-} MO

Good day ragnar... Realistic PGM royal flush for SLP would be Rh @ 20,000, Pd @ 18,000, Pt @ 16,000 Matrix would be happy with any combination price of the above. Think might get special divi then :-) Best wishes

IF anyone's wondering why South African Rand is called ZAR... It's because south in Afrikaans is zuid, learnt that when working there... Best wishes MO

Agreed Korg... PGMs are very dynamic... Pt and Pd both up today > 1%... Yesterdays numbers, updated (all bid priced)... Plat as of 30-Sep-17 was 12,336 rand, 31-Oct was 12,962 rand... NOW 13,108 ZAR Palladium 30-Sep 12,580 rand, 31-Oct was 13,753 rand... NOW 13,946 ZAR Could go either way, but liking the current direction... Best wishes

Ragnar, I found quite a big list lol... Some I've never even thought about... https://www.buzzle.com/articles/common-uses-of-platinum.html MO

I was also going to suggest possible military uses too... Only problems is, if you use it for ballistic penetration everyone will be saying shoot me, me, me... ;-} hoping to survive to collect the spent ballistics MO

Spot on ragnar with the calcs... Platinum is more than cat converter, ;-} Amazingly strong and clean, lots of medical uses, also hydrogen fuel cells... Jewellery for the more discerning wearer. Had heard the rumour South Africa might start producing fuel cells, look a bit chunky for car, but trains etc and power stations possible too... only discharge is WATER !!! One thing for certain PGMs very rare... Take care MO

Not sure if you've read the Aug investor presentation... But based on total PGM production, the prill spilt (%) of PGMs+ listed as follows: Au 0.2 Rh 13.5 Pd 24.2 Pt 62.1 I won't bother with Gold (Au) only accounts for 35oz per qtr, so put in XMAS fund for staff party.. Plat accounts for almost 5times the Rhodium production, so much more sensitive to increase... Plat as of 30-Sep-17 was 12,336 rand, right now is 12,962 rand... Palladium 30-Sep 12,580 rand, now 13,753 rand Swings and roundabouts, be nice to have a PGM royal flush, Rhodium and Palladium have had very good runs. Best wishes MO Basket as

Good evening ragnar... Stock on loan data includes shorts < 0.5, i.e. CFDs etc, seems very reliable but only aggregated once per month (for free)... Shorters will tell you it's bunk, but it's not, it's holy grail lol You usually get the previous month end data with a week... (may need to click login as guest, nothing else required, go to Sep 2017, Find Sylv Plat (about page 20)), Oct out within a week I use Euroclear... https://my.euroclear.com/apps/en/monthly-stock-loan-data.html#month=eq:9&year=eq:2017&limit=0&search=1 Hope this helps MO

Good day Korg... and SLPers I wonder if the secret SLP shorter(s) have bought any back ?? As of end of Sep approx 2.6m on loan, did see a strange 2m transaction immediately prior to SLP's 3.3m buyback, literally minutes before, could have been to fill the SLP trade or short related. Should see October number soon, the updated on loan data usually released early in month... Since June (in %) - Jun: 1.46 - Jul: 1.01 - Aug: 0.9 - Sep: 0.97 Good luck all

Fewer shares in issue means a better share of a divi too... When aus shares are cancelled, will equate to approx 2% of SLP shares gone in a few months !! Hopefully this time next year, sooner if plat soars we should have our first divi.... May seem a while away, but when divis start, SP should be worth considerably more. SLP's not really a short-term trading share, has swings and biorhythms but feel with SLP buybacks not far from bottom, but miles from top. (obviously IMO) Best wishes