Member Info for ragnarlothbrok

Hi Leas, Also noticed that Blackrock and Audley have disappeared from the register since the last update. Dont recall any holdings RNS. I will have a more detailed look at financials this evening, in the Alps now, heading out to hit the slopes

First impressions from results: - downgrade of full year production to as low as 71koz from 75koz. Could still hit full year target but there seems to be a few challenges so hopefully 71k represents full downside risk. 78koz production in 2019, seems a little risky to be putting this out there so soon; - power supply issues leading to delay to Echo 2. Not surprised; - no divi, no mention of a policy either - EPS came in 3% above my estimate, Annualised P/E of 5.9

I'm guessing that we crossed on HGM because you also look for dividend paying, lowest quartile cash cost miners with expansion opportunities. Invested in SLP a little sooner than I normally would given its valuation and near term cash flow potential. I don't like that its in SA but I like that's its not a miner, and compare it to CAML in that respect. If it performs half as well as CAML has I'll be very happy.

I think that the absence of a dividend announcement or at least a policy to start later this year will get a negative reaction. I have some dry powder and will take the opportunity to top up in the event of any adverse reaction to the results or strategy, despite being overweight this share, as I still think they are good value. So its win win either way

Laying my expectations out for H1 results to be released on Monday: Revenue: $28.2m (given) EBITDA: $10.4 (given) NPAT: $4.9m EPS: 1.3p I would like to see a dividend of $2m, equating to 0.5p per share, but I get a feeling we may have to wait until August for this. Here are the consensus figures, look a little out of date, though the price target is 26p with the latest revision in November 2017 http://www.4-traders.com/SYLVANIA-PLATINUM-LTD-7671108/financials/

All trades showing as sells today. Yet I can't sell anything for higher than 15.30 and a dummy buy for 15.5. All the trades are at 15.5 or higher leading me to think that all the trades today are buys, with the final few getting in before results on Monday

Here's the Reuters link with a touch more detail https://uk.reuters.com/article/uk-caml-acquisitions/central-asia-metals-pauses-for-breath-after-macedonia-mine-deal-idUKKBN1DD2DG

Someone on this board several months ago said this would fall to 30p. They were right

http://www.theafricareport.com/Southern-Africa/central-asia-metals-looks-to-enter-africa-in-search-of-copper-project.html

Not much really about them leas. Israeli hedge fund, looks to be run by a bunch of young guys. Just bought over �1m in SLP shares. Hopefully they buy more, they may have helped push the price up over the last 6 months

SLP is currently exempt from changes to mining legislation as its activities are not classified as mining activities. The metal processing industry has thus far not been part of the empowerment legislation. But who knows what they will come up with next and this is why SA trades at a discount to other countries. In the past protesters at the mines prevented SLP getting access to the tailings, not due to action against SLP but by unions against Samancor. SLP value is not tied to property or land but intangible rights to Samancor's tailings

I have updated my EV/Reserves and resources and compared to a selection of London listed gold miners which gives the following: Company: EV/Reserve/EV Resource/oz RRS: $571/309 HUM: $324/38 (inc Dugbe) CEY: $305/189 POLY: $234/121 SHG: $215 HGM: $186/55 POG: $107/42 Each company has its own reasons why it sits where it does in the table but this highlights how much of HGMs value is locked up in undeveloped projects. They tend to highlight this in each of their presentations and to me this indicates how HGM is a long term play with a 4-5% divi to compensate investors for the time value of money to get the projects off the ground. The companies with debt all tend to be valued at the lower end with POG the cheapest by this ranking (with a $600mn debt pile)

Looking forward to the results Rivaldo. I really like the low asset, high return model of this business. Good price momentum after the nice steady rise over the last 6 months.

Looks like our suspicions have been confirmed leas. I'm assuming that these have been bought on market given the absence of a holdings update from any of the other large shareholders. This means that over 50% of the register is comprised of institutions, which is highly unusual for a company of this size on AIM. We should find out if we get a new investor presentation next week what the register looks like. A quick google of our new shareholder tells us that they are a deep value hedge fund. They will no doubt have done extensive due diligence before making this investment. https://www.eden-alpha.com/

2.7m at December (after the 2.8m placing in mid December). Indicates that the bank accounts were pretty empty prior to the raising

Flavour of the day? https://investingnews.com/daily/resource-investing/critical-metals-investing/tungsten-investing/tungsten-outlook/

The announcement today talking about accelerating a program implies Thor is accelerating the spending. AIM is a pretty nervy show, any sniff of a raising and the traders run for the hills. Also agree with the Dibs on this one, its not news without some sort of time commitment. We already know that Thor is keen to get these projects off the ground as quick as possible.

Hey leas, been nice and dull for SLP lately after the slow and steady 20% rise this year. Good to see there is sufficient buying interest to absorb some of these large sells and support remains around 16p. I'm hoping for a $2m dividend, this would still give them a cash buffer of $10m at December, and a statement re dividend policy. Also interested to see if Phoenix has impacted the tax rate. Hopefully we get a new investor presentation confirming how Phoenix and Echo are progressing. Some good news around Volspruit or Grasvally wouldn't go astray either, though I think I've given up on anything ever happening there

2 X 100k trades is 1% of Mcap, I wonder who's hoovering those up...

Equilibrium has been restored to the PGM markets with Pt back over $1000 and the palladium premium increasing again. Rhodium a nice fat 1850