Member Info for picstloup

Just sold for £5.85 the 4000 extra I bought last September at £3.65 and reinvested in 350 extra Valterra shares at £68.34. Sorry to miss the Schroder divi next month, but I believe the final results in a fortnight for Valt are going to shoot the lights out.

Anglo probably could have done better, but Anglo shareholders got the benefit as they got Valterra shares. And those of us who thought Valt undervalued when we got out allocation last June benefitted by the opportunity to top up.

In my case, I added on 7 occasions between June 13th and 15 December, at prices between £26 and £58, averaging £33, most trades posted on the Valt board in real time.

According to my calculations (back of envelope), based on PGM/oz prices realised at $1517 for H1, $1916 for Q3 and $1852 for full year, they should have got over $2400 per ounce in Q4. And in January prices have continued to rise (so far, on average 30% up on Q4 2025) with platinum hitting an all time high of $2775/oz today.

The lacklustre H1, and Anglo stripping Valterra of an exorbitant final divi, will drag down headline full year results for 2025. But assuming PGM prices remain at this level, or even at Q4 2025 levels, H1 2026 is going to shoot the lights out again.

Last month, when Valt was nudging £60, I predicted £80 for these in the run up to results (Feb 28), and £100 shortly afterwards. I was told that was "not realistic". Looks pretty plausible to me now.

Dunno. It was a big fall. All the miners are down today - Aal's other spinoff Valt -6%. But mostly from multi-year or all-time highs, unlike TGA, and mostly only ~2%.

I'd be topping up if I had any cash, but I don't - and anyway I'm probably already over-exposed to miners, with Valt and TGA among my largest holdings, and Rio and Aal not far behind.

Up 25% you. Very nice. Glad I made a modest top up back in September @£3.64. Probably further to go, as nav will be revised upwards too.

Platinum up 120% yoy.

Next stop all time high? ($2290 in March 2008)

Today's dividend safely dripped. $763 minus $114 NRA withholding tax got me another 6.0121 shares at $107.88. 19.6% up on this time last year. Very respectable: 14% from the increase in the divi, the rest from the extra 27 shares dripped this year.

Still feel that a buck a quarter divi for next year would be more than affordable, so looking forward to results on Feb 18.

Final top up before results. Another 112 @£58.6623, taking my total, and average up to holding to 1400, and average up to a bit over £33.

Platinum currently just nudging $1800/oz.

Flogged mine from ISA with ii (£3.99 phone fee as still can't sell online, for some reason). Bought back in my SIPP (HL - can trade online). So I now have 226 in my SIPP: one small holding rather than two tiny ones.

With S&P's positive rating for Valt, I would expect a further rise when Wall St opens in 15 mins.

I'm holding, and hoping for £80 in the run up to results in March, and £100 shortly afterwards. Assuming platinum holds at over $1500/oz (as it has for 10 weeks, currently $1770), palladium still high (now over $1500), and rhodium holding at $8250, results are going to be spectacular.

I was expecting this to drop as small holders and trackers sold out, but it doesn't seem to be happening (yet).

Anglo sold its remaining shares in Valterra for $2.5b in early September.

It would be good if some of that found its way into Woodsmith - the reason I originally invested in AAL in early 2020, mostly at about £12.50. Since then I've made far more than I lost on Sirius in AAL, TGN and now VALT (currently 60% up and rising).

Joining S&P SmallCap600 (up to $37 after Wall St close). Glad I've held my nerve these last few years. Next stop $50?

Indivior PLC’s stock reached an all-time high of 33.72 USD, marking a significant milestone for the pharmaceutical company. According to InvestingPro data, the stock is now trading near its 52-week high of 33.64 USD, with technical indicators suggesting it has entered overbought territory. This achievement comes as the stock has experienced a remarkable 197.95% increase over the past year, with an even more impressive 178.07% gain in just the last six months. The surge in Indivior’s stock price reflects investor confidence and positive market sentiment surrounding the company’s performance and future prospects. With a healthy gross profit margin of 83.81% and net income expected to grow this year, Indivior appears well-positioned in the pharmaceutical industry.

Indv joining S&P smallcap 600, up 6% after close (to $37)

Indivior PLC’s stock reached an all-time high of 33.72 USD, marking a significant milestone for the pharmaceutical company. According to InvestingPro data, the stock is now trading near its 52-week high of 33.64 USD, with technical indicators suggesting it has entered overbought territory. This achievement comes as the stock has experienced a remarkable 197.95% increase over the past year, with an even more impressive 178.07% gain in just the last six months. The surge in Indivior’s stock price reflects investor confidence and positive market sentiment surrounding the company’s performance and future prospects. With a healthy gross profit margin of 83.81% and net income expected to grow this year, Indivior appears well-positioned in the pharmaceutical industry.

A profit's a profit, as they say. I'm holding, and will probably top up when some divis arrive next week, as I think Valterra is seriously undervalued and about to pay an eye-wateringly large divi. With 11 months of the year almost gone, refinement of 3.4m oz seems pretty well in the bag. Q3 price realised for PMGs was $1916, up from $1517 in H1. So far in Q4, the price is around 20% higher yet (lurching up in late September, and holding, so far). Platinum, for example, holding at over $1500 since then, up from ~$1000 all of last year and up to May 2025, Palladium similar, and rhodium up 80% yoy (hitting $8000/oz today, up from well under $5000 all last year). With extraction costs remaining static at under $1000/oz for PGMs.

Today's 8.7% rise could be just the start.

Over £30 at opening? Yum.

Well, LAS having lost 50% of its value today, and BISI owning 42% of LAS means BISI will have lost well over £1m today (42% of £3.4m). Which technically should have meant a 10% drop here, but didn't.

The Hellers not giving a collective fart about the co-owners of "their" companies, makes me worry that BISI might also be tempted by the alleged £350000pa savings found in de-listing. Not to mention the much (much) less onerous regulations.

It's sad to see rampant greed like this, but that's the market, and it all seems to be legal. Fortunately my remaining stake is so small I'll just sit it out, expecting both companies to wither to nothing until the brothers have nothing left to milk.

Yesterday's divi safely reinvested: $758 minus $113.70 NRA tax = 6.342 new shares at $101.60. Up from 6.049 @ $90.55 this time last year. A respectable 17.7% yoy, roughly 11% the increase in the divi, and the rest from the extra 27 shares dripped over the year.

I somewhat wish at least part of the extra billion going to buybacks had been put to increasing the divi - half would increase it by $1.84 per quarter, assuming we're now down to ~68m shares.

I'm sure the divi wll go up next year, but probably not even to a buck a quarter.

Beginning to wonder whether to top slice, although still believing a bid will come.

Will probably hang on for $30, despite niggling worry this may crash down (yet) again.

Market seems to like it.