RE: Skullduggery on the London Stock Exchange15 Dec 2023 23:35
Agree with the downbeat sentiment of the FTSE but the SA JSE market is hardly better, worse in fact so at least this should match that!
A new government next year in the UK will I believe bring a change in sentiment and 'hope' whilst washing away bad memories of the Tories terrible, overlong and chaotic tenure since 2010. Not saying Labour will work miracles but for the outside world a change is good and kicking out the divisive party that arranged Brexit etc. may be a good for the UK markets and attracting outside investment. 'New Labour' under Blair etc. is the model Starmer is now following.
In terms of success stories you dont need to look too far. SA based mining company. We actually sold Phoenix to Sylvania Platinum.
SLP rose from 30p to 140p in 2021-22.
Was similarly priced at a ludicrously low P/E, not sure it ever got as low as 3 though.
FWIW I forecast EPS here for the year ending June 2024 assuming a relatively stable gold price from here at around 4.5p; that is also post tax.