The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Good presentation, with an updated document, the 6E Prill split is handy and useful for potential investors, as is the commitment for the interim dividend, margins on Chrome at $180/t are adding to an already healthy free cashflow
JSB1989, thanks for the figures, which ever way you cut it, that's certainly a healthy cash build. This weeks webinar will hopefully highlight this, although its looking like we will have to wait until the Q2 update or even the interim results before the market takes this on board and we get a re-rate. With the updated presentation we should also get some more information on the Zimbabwe projects which could be an interesting use for the cashflow.
I'm sure its been answered before but what percentage of iridium makes up our Prill split, it may well give Rhodium a run for its money eventually, its getting close to doubling in price in 2021, and even at lower quantities will help support the basket price.
Blimey , has the share price still got a heart beat!
One of the best aspects is that Tharisa's costs, in common with most miners are substantially fixed so a large part of the rise in PGM basket rates ($2,500 to $4,000 in a matter of months) flows directly to the bottom line, which should provide enough capital for production growth projects, establishing if the projects in Zimbabwe are viable and..... an interim dividend. The only share price drag seems to be the seller and as there appears to be no information who it is, we really have no idea how long the selling will persist.
Well, I've added another few to my holding, still small beer compared to many of you, but THS has now climbed into the top ten of my portfolio! Further to my previous post the share price gets more bizarre by the day, at this basket price THS will match last years 12 month revenue in this years first 6 month period, maybe they are planning on taking the following 6 months on holiday!
I did email after the last webinar, and Ilja Graulich did confirm the principle of interim and full year remains firmly in place, so as you say hopefully they will pay a healthy dividend which may widen the company interest to some investors, although with most other companies with revenues from PGM's seeing substantial share price appreciation, we need to follow suit while the basket price is so high.
This lack of share price movement when all the underlying constituents seem to only be going one way to an improved outlook is making me question my research, am I missing something that warrants this depressed share price when profits must be going through the roof with Rhodium +$25k /oz, expansion initiatives in progress (Vulcan), potential expansion/diversification being progressed, stable production, and good labour relations (4 year wage deal), there seems to be very good support for the current high PGM basket price. Is the background seller the only reason the share price remains parked?
It does seem that all the pgm basket elements are heading in the right direction and seem to be supported by future demand/supply balances,and after doing some brief research Tharisa, does seem to be very under valued at the current share price, so how's the time to buy.
Does anyone have a view on the possibility of an interim dividend when the first half figures are announced?
I think the hedging has been quite costly, but at least its completed now, as I believe the hedge ran until 31/12/20, as you say the rand exchange worked against us during this period, but I suppose its swings and roundabouts, and nothing can be done about it . Only a few weeks and all will become clear, all in all assuming the gold price plays ball, the second half should be very profitable.
Its certainly proved to be a good way for them to cash in their shares without disrupting the share price too much, think of the carnage if they had sold 30million shares between into the market! Hopefully when the new investor is established on the register they will be able to release a few exciting RNS's to give take the share on its next leg up.
On the bright side, at least its put a line under the risk of further dilution, there are a few buys coming in now, so maybe its been this that has been putting off any support for a rise in share price.