Member Info for ragnarlothbrok

You are forgiven Matrix, although I'm not sure for what :-). I would never take anything personally written on these walls. 100% agree with you on the buybacks. Dividends are nice but buying back shares on anything below a 5x P/E is a steal. I hope they are putting some cash away in a USD bank account for this purpose as the rand is looking pretty precarious...

Right at the bottom, well done. Rhodium has tanked this week and is in a technical bear market.. But the ZAR has also tanked so the ZAR basket is flat compared to last week

After a 50% increase in such a short period of time and the sudden departure of the CEO some profit taking was inevitable. Good to see that its bouncing back. I guess all those looking for a quick profit from the run since June have moved on. Volumes have picked up over the last week suggesting a new round of buyers or core investors topping up. I particularly like the single digit P/E, the asset-light business model, an outstanding ROE (seriously have a look), the fivefold increase in the dividend over the last 5 years and no acquisition upside reflected in the share price. GLA

I haven't touched SA platinum since getting burned on Aquarius many years ago. Maybe another 50% price fall and a further plunge in ZAR and I'd consider it... good weekend

When you look at it in the context of today's Lonmin result if you really want to be in PGMs then SLP is the place to be. Downside risk is relatively low in the context of the PGM producing market

This stock is so predictable I love it! Any small profit taking retrace is followed by a surge up. Though at nearly 30 times 2018 earnings I don't think it will be as smooth a ride up to �40 as the �20s were. Hopefully �30 is a new support level and we will never look back

This will pave way the way for M&A with one of the large UK players who don't want any exposure to unregulated markets. However any tie up will most likely be delayed by the FOBT issue dragging on and on.

Cheers J777. Its true patience is key. I wouldn't say that the company is a relative unknown, they've been doing the same thing for over 10 years, have been listed on both the LSE and ASX and have pretty much gone nowhere. Check out this old presentation from 2011 when EBITDA was less then today but in a completely different price environment market cap was double. https://www.rns-pdf.londonstockexchange.com/rns/2689P_-2011-9-30.pdf

Hi Matrix, so it seems that prices are considerably higher than 2 years ago. I wonder when higher prices become sustained enough in order to warrant shareholder returns. I will become very annoyed if this doesn't start next year. Sitting on such a large cash pile and being debt free for such a long period of time shows an inherent lack of confidence in either mgmt, the business and/or the market. I would really like to see a 10% on market share buyback to start next year, reduce the book value of equity and increase the measly ROE. And throw in a small dividend as the cherry on top. Rant over RL

Refreshing to read something completely contrarian to everything else in the media foretelling the doom of platinum versus bullish long term gold price trends. Regardless of the demand issues there MUST be a point in time when supply starts to fall off more significantly given the pressure the SA miners are under. The Anglo Platinum interims are a good read (although I would never invest) http://www.angloamericanplatinum.com/~/media/Files/A/Anglo-American-Platinum/interim-results-presentation-2017.pdf

I was very tempted to bail on a high note today after the recent carnage but right now silver and gold are around the same level where HOC was when it started its fall from over �3. Implies a lot of upside if you follow the ratio of HOC SP/silver or gold

Very true LW. You may take some heavy hits for a while as it amplifies whats happening in other parts of the market, but it inevitably roars back to life and can wipe out 2 weeks of losses in a single day. Silver up +2%, HOC +6%. This is easily the most volatile non AIM stock I have held

Matrix I believe you may be looking for a basket under which we will all be millionaires

So who knows why PMs are all up today? I can't really see much happening out there at the moment

Good day indeed. I never thought I'd see the day again when Pd and Pt would both go up 1%. Looks like we should hold off starting that platinum jewellery business Matrix... Its a shame SLP is not more liquid otw we would see a good upward movement like the other PM miners today

If fuel cells take off that will change the dynamic for PGMs completely. My research team tells me that the converter requires 10 times the normal amount of metal.

I sure did read the presentation. I'm assuming the prill split is based on production so that if production is 70koz, then Rh production is 13% of 70koz = 9oz. Based on this assumption Rh contributes over 20% of revenue and a lot of the recent basket increase. I can't see all three having a good run and I have given up on Pt, if it stays above $900 I'll be happy. EVs, shift from diesel to petrol etc will lead to platinum's long term decline but will support Rh and Pd. Or maybe if the price differential is great enough there may be some substitution between Pt and Pd.

Cheers Matrix had no idea there open shorts. What's the source for this? According to LSE there were no buys today yet price didn't change at all, I find this a little suspicious, what do you think? Murky world of AIM? Rhodium taking a breather. Down 11% from the peak last week. Nickel looks to be the flavour for this week

WHP, may be something to do with the below. Gan and Playtech also go a boost https://www.onlinepokerreport.com/27196/pa-legalizes-online-poker/

Cheers Matrix and good luck to you