Member Info for Mike1959

Another big uncrossed purchase at the end of the day.

The traded volume in S Africa on Friday was 23 million shares, more than 3 times the average level , although we do not know the actual buys and sells which adds to the confusion.

Likewise enjoy the weekend!

WE 19/06 is a Thursday and it is not a public hol in S Africa today. So based on today's chrome price Friday 20/06 the price is $267.5, down $20/tonne from yesterday/ last week .

Again the share price failed to go through the 50p level today. But a massive 6 million purchases today, mainly due to an uncrossed 4.87 million purchase right at the end of the day so we should be testing that 50p again on Monday and one of these days, stay north of that figure.

Rob, yes, unfortunately chrome is down $20/ tonne today to $267.50/tonne.

Hi Sam,yes, overall sentiment appears to be slowly recovering so fingers crossed for the numbers in July.

Sometimes a director can sell shares for personal reasons such as buying a new house, a wedding in the family or topping up their pension, but for 3 directors so do so almost at the same time is demoralising particularly as we have not seen a director buying shares in years.Fortunately with the recent momentum and increase in Pgm basket is looks like the share price should shake this off.

Hi Mulder, I do not expect gross profit to be quite as high as $500 million for 2026 but it just depends which numbers you use.

In last week's presentation PAF used an average exchange rate for H2/2025 of 18.50 but i expect it to be nearer 18.4 which will very slightly increase the AISC.

Otherwise the market is needing further firm evidence that the business is growing as planned for the next big step up in the share price.The 2025 PEG is around 0.1 and the 2026 PEG below 0.05 so still alot of room for the share price to grow if the business delivers on the promised numbers and the gold price does not collapse.

BSHI has hit a new 2025 high today.

Waterloo, don't beat yourself up it is a simple error we all make.I appreciate your valued opinion which adds value to the board.

Likewise I agree...it actually says " there will be an update early this month " so hopefully we will get the announcement this coming week and assuming it is positive it is enough to push the share price through 50p and beyond.

Got mine yesterday in HL.

Purchases double the level of sales today, that is another nail in the coffin for anyone shorting this.

Since Moodys downgrading US debt on 16th May this has only reinforced the sentiment for gold.

Gotabesirius, we still need to secure the external funding. In the 22nd May interim results presentation first ore in mill was "15 months after financial close " but at the April Joburg indaba, our CEO , PP, mentioned 24-36 months" . For the funding a USD50-100 million gold stream was mentioned with terms received which I assume is an upfront payment secured against a certain volume of gold at a discounted price and also a "strategic investment"of USD 100-150 million described as "progressing".

Sotolo, with gold at USD 3365 and Johnson Matthey showing platinum at USD 1146 today I make the Karo pgm basket USD 1470 so very close to the USD 1500 I think we need to generate a reasonable return at the bottom end of the scale (and assuming the Zim government stick to the original agreed terms for the Special Enterprise Zone) . It is also worth remembering that Karo will get paid around 84% of the pgm basket while the number has historically been nearer 80% payable at Tharisa although in H1 this improved to nearer 83% ,presumably as we are now selling some of that pgm as semi-processed matte rather than concentrates. This explains the recent impressive improvement in the share price and hopefully news of a financing deal would push this up further even though FOIM at Karo could be the end of 2026 at the earliest or even into 2027 and it would be another 6 months plus, before production is increased to a profitable level.

Waterloo, I agree. The short is a relatively low level and just another trader trying to find an angle to make some money plus the borrowed shares will eventually have to be returned. If the short was 5%+ then I might be concerned but at this tiny level let us look at the bigger picture which is the fundamentals .

Moneyman, agreed.

Shareminator, yes, happier faces on the board hence the increase today. I think we will just fall short of producing 80k oz pgm in H2 but that chrome will be over 900k tonnes.

Current prices bode well for H2. In my opinion another $50/oz on the current Karo pgm basket price to around $1500 would be enough to start production at Karo if it stays there. In the company presentation yesterday the potential BMR , IF it works, at increasing production within a few years from 220,000 oz/month to around 350,00 ozs/ month would be a total game changer.

Exactly, hopefully they have listened to shareholders and upped the 15% dividend payout or it might just be they are very confident for H2.Likewise on the buy back.

I like the interim dividend.

Hi shareminator, glad that we agree of this! Based on the prices today I make the Tharisa pgm basket around $1550 which is the highest sine May 2023!