Member Info for ragnarlothbrok

Per BASF catalysts website says price is $1,425... up 5.5% today

is $1011/oz. Rhodium up another 5.5% yesterday and after palladium's little hiccup is pushing back towards $1000. Rhodium is up over 42% in a couple of months. 2017 reported price was $$935. LTS: Fair enough, I've had a buy on at 10 for ages now, thought you might have snuck one in somehow. My highest buy is around 14, pretty much the most recent peak so I've still got a way to go

LTS the remarkable thing is the price. There hasn't been a buy at 10p for well over a month. I topped up a small amount at 10.08 1-2 months ago and there wasn't much lower than that - what's your secret?

However its calculated the P/E is extremely low for a business with a 10 year+ life. At current prices SLP will generate over $60m EBITDA/CFO over the next three years, and probably equivalent to its market cap after capex and acquisitions. Such a low price/FCF raises a compelling argument for a buyback or huge dividend when the BoD is comfortable Echo will achieve its goals. Speaking of which, we should be hearing some news about the (hopefully successful) commissioning of the first 2 plants soon

Could be any day now but they usually seem to report close to the last day of the month. Welcome aboard CJG and Mulder. Palladium is so far up another 1.5% today to over $1000oz and it looks like Rhodium is surging again!

I'm not surprised by this Shareminator. I know nothing about rhodium but all reports suggest that palladium supply is incredibly tight. There could be some variability to the prill splits due to the proportion of production at each plant over time. The western limb plants (Steelport/Lannex which are being shut down) have the lowest platinum % while the eastern limb (where phase 1 of Echo is happening) have a high proportion. I wouldn't be surprised to see this price gap closing as production shifts from west to east. I'd also be interested to see if and how the concentrate discount is changing for different splits over time if the market is so tight

... is going up. SLP closing basket yesterday was $1008 with rhodium at $1340(!) and palladium $996(!). My price for relevant quarters: Q118:$955, Q417:$917, Q117:$928. YTD up 4% against full year 2017. I'm estimating Q1 to be a record on every metric with EBITDA and cash from operations of >$5.5m. Looks like Echo/Phoenix investments covered by H1 cash flow with some change to spare. Q1 report expected in 2.5 weeks.

I agree. I'm predicting that at year end we will have a pretty similar cash balance at December to June, even after absorbing the investment in Echo, the Phoenix acquisition & the ASX buy backs. Palladium has surged this week back up to $1,000/oz, $60 more platinum which is languishing at the bottom of the metal pile. I can't believe you can still buy shares at 10.45p today. Time for the BoD to shower the loyal shareholders in dividends

We need a stonking trading update in January like last year which caused the SP to move up 50% in a month. If we get good results this will propel SPE into the ranks of dividend paying AIM stocks. Based on the order book I'm reasonably comfortable we will hit consensus but I think they need to do better so hoping they are negotiating some licenses as we speak...

Sorry creep in platinum price

Agreed DTM. Quarterly production due soon on the back of a surge in palladium (and creep of palladium) and drop in ZAR. Cash balance should be very healthy

Cash at year end has already been announced at �47m in the trading update. This will probably be lower right now heading into Christmas inventory build and investing more as announced in their strategy. And they have announced a �5m YoY reduction in rents, although this will be offset by wage pressure. At least get your facts straight and read the announcements rather than just staring hopefully at the chart.

Unstoppable! Great update today with so many double digit increases, I think this bodes well for earnings. These guys are born deal makers with lofty ambitions for FTSE 100 and are masters of extracting synergies so wouldn't be surprised to see this huge deal announced in the next month or 2.

Market cap is still not much above the cash balance so this must support the share price at some level. Charts imply support at 34/35. Liquidity is so low, MMs must be making a mint playing with this spread. A lot hinges on results next month; while sales have been better than expected we have no idea about costs, profit or how the cash balance will be spent.

Well done to those who bought this early on in the bounce. (Like BK) I got out after the overwhelmingly negative news flow after being dazzled blind by the diamonds for several years. I'm keeping my eye on this one and will return with positive net cash flow. For now the risk of more negative news and a surprise rights issue is enough to keep me away

DFS due any day now, this could be a company transforming event when we find out how much its going to cost to get 200koz PER YEAR out of the ground. In the meantime we have one of the lowest cost producers, paying a fat divi with a number of production enhancing projects in the pipeline to keep us entertained...

initiates coverage with Buy and target price at.... 4000p

Oh dear, bye bye dividend

Nice one Driving. I topped up a couple of weeks ago when I reminded myself of some numbers: - 2017 EPS: $0.032. At an exchange rate of 1.33 USDGBP this equates to a trailing P/E of 4.6 times; - 2017 Q4 EBITDA $5.0m. FY2017 EBITDA $18.3m. Implied 2016 trailing EV/EBITDA of 2.2 times (ignoring cash); - At a 40% payout ratio on 2016 NPAT a dividend would be $3.6m per annum equating to a 9% yield on current price; - The cash balance at June was $15.3m. I'm guessing this has increased by around $4m depending on timing of capex

Workings seem fine to me. New market cap will be £400m (£250m xplus new shares £150m). The new equity will be unlikely to change the pattern of trading, shares all going in blocks to instos, probably income funds, which are unlikely to be moving much stock around