Member Info for raxfactor

Guidance was achieved and increased significantly from 2019, revenues increased reflecting the 34% improved production although profit for the year was down 1% compared to last year.
Cash flows increased to €59m from €37.9m, cash at year end stood at €37.8m.
All reasonable considering the crash in commodities due to covid then the bounce back recovery.
The stand out though is the increase in operating costs by 52.1% to €176.3m due to higher processing rates, 14.8Mtpa against 10.5Mtpa in 2019
With copper now way above $2.72/lb average realised price at around $4/lb
I think the drop today seems harsh, if the market is forward looking like people say we should be up 7%.

When considering prices on all products was down on the previous year, covid to deal with, add in the major move of plant and still turn a significant profit even though well down on the previous year while increasing dividends is encouraging.
Increased prices this year along with production suggests we are in for a good year considering all the major capex is behind us that's another tailwind, all we need is for covid cases to decrease.

Tweeted by THS article charting Iridium rise to all time high
https://www.miningmx.com/top-story/45660-iridium-rises-to-all-time-price-high-as-market-confidence-swells-among-sas-pgm-producers/

A headline profit instead of a loss due to right downs makes a nice change albeit due the GSK monies, it's looking like that saga is finally over although they still have the supreme court option available, although it should be noted we have always been profitable just the accounting from Skypharma merger clouding that.
VEC's transition being put in place as they change their direction only very small revenues generated at present, but will increase.
Backed by steady existing revenues to allow this transaction, pity about the special dividend I would of liked to see an acquisition, but I will accept the cash.
Steady as she goes although the market seems underwhelmed when a lot of comps are adjusting their banking covenants left right and center is baffling.
Hope to see some tick up as the days pass by and our results sink in and some jop on board for the Divi.

Article tweeted by Tharisa, although we know Rhodium is contributing half of companies revenue nice to see the message being pushed by THS, it's talking about SA major producers of which we are one.

https://www.miningmx.com/top-story/45622-soaring-rhodium-price-will-contribute-half-of-total-sa-pgm-company-revenues-in-2021/

Excellent news to have the Astor situation put behind them only interest payments on the sum to be sorted, decision may be they there isn't any, how many investors will have been put off by this ongoing saga with Astor when researching ATYM.
Pleased to see market reacting in a positive way, great news for all invested here.

Sometimes you may wonder why FXPO sp is valued so lowly compared to its reach in its chosen market, operational success and cash generating capabilities, we know about our dethroned major shareholder, so what else?
Well there is still the conflict in Ukraine by my reckoning about 250 miles away or 6 hours by road, so what's Ukraine like as you approach towards the front line through the towns and what is life like for the Ukrainians.
Great YouTube vlog worth your time and an entertaining and interesting watch.

https://m.youtube.com/watch?v=2bNzjBJF_G0&t=14s

Good luck with your future investments Greeno.
As for trouble in the north, it is still ongoing as this recent report from the BBC describes the horrors in detail, however I note there is development of oil fields in the area with the army present as protectors, sad that they can protect that but not the people.

https://www.bbc.co.uk/news/world-africa-56373651

Great rise today and special thanks to Klaus Schwab without whose meddling this wouldn't be happening.

2021 will be the year when every major government, as well as broad private-sector coalitions, commit to a “net-zero” target for greenhouse-gas (GHG) emissions. This means that, rather being stuck in a race to the bottom and fearing a continuous “free-rider” problem, the world can benefit from a virtuous cycle of decarbonization.

With the added knock on effect to catalytic converters and emission controls which we here are thankful for.

Interesting, I know we don't produce much Monazite each year.
In 2019 we also successfully introduced a new concentrate product to the market, providing us with an avenue to generate revenue from monazite, a mineral containing Rare Earth Oxides (REOs) used in a range of applications including renewable energy, thus expanding our margins.
Other than the above I haven't seen another ref to it, nor the revenue generated.

Rollover until next meeting on April 1st, hope that's not an omen.

Notes on the meeting today which decided to maintain the status quo, all good for JSE and the oil price, next meeting April 1st

https://www.opec.org/opec_web/en/press_room/6375.htm

We import our coal from Indonesia

I believe the Chinese are now sourcing their coal requirements from SA, so perhaps not an issue here at the moment.
News on the hedging front would be good and safeguard us from any price shocks in that direction.

The recent cold snap in Europe has depleted their stored gas reserves which stood at 100% at the beginning of winter to 30%+ today, this will support the gas price in the quieter summer months when they will be buying to replenish their dwindling stores, some good news for gas prices.

The recent cold snap in Europe has depleted their stored gas reserves which at the start of winter was at 100% and is now languishing in the 30's which means they are going to be a significant buyer of gas in the quieter summer period to replenish their dwindling stores some good news for support of the gas price.

Sometimes markets make no sense a couple weeks back ATYM was on tear up while here CAML went backwards, last week ATYM re-traced and is still going in that direction while today we are making good, no logic what's so ever as both are sound companies.

From S&P Global Platts

What's happening? Rhodium base prices have surged above $25,000/oz for the first time. The precious metal has been on multiyear bull run, rising forty-fold since mid Aug 2016 when it stood at $625/oz. The latest rally was caused by supply shortages from South Africa, which accounts for around 80% of global rhodium mine supply; an existing deficit; and strong buying from China and Europe due to stricter auto emissions regulation. Nearly 80% of demand for rhodium comes from the global automotive industry, for catalytic converters to control emissions of greenhouse gases and pollutants.

What's next? Rhodium is a by-product of platinum group metal mining, and there is talk of projects in the sector that have been abandoned or cancelled, such as Stillwater-Sibanye's K4 project, coming back into play. However, market sources say mining restarts and new projects can take years to reach full production. Given the volatility of rhodium prices, analyst have suggested the increase in prices to continue in 2021.

By the metrics that inflation is measured by unfortunately at present there isn't any, in fact by all the numbers which are considered its slightly deflationary.
With all the people furloughed coming to an end probably a lot will not be going back to the job they once had, a lot of companies are smaller now than 12 months ago with all this uncertainty will folk spend?
This boom may or may not turn up, just like inflation everybody and his dog is saying it will but as yet its not here.
Food for thought QE has been going strong for over a decade with supposedly inflation a certainty but where is it, we never had interest rates so low and they are hardly on the rampage now.
How will it end I have no idea, but for inflation we need economic growth and the banks lending a lot more than they are.
Most economies are flat lining bordering negative, contracting even how is inflation going to be generated from that?
I am thinking Japan is the example the world seems to be following debt to GDP 250% and they have been struggling for decades.

Its good to see JSE will still be maintaining a conservative approach going forward to maintain a strong balance sheet.
After battening down the hatches recently and putting a hold on infill drilling this will be reversed as they look to spend US$85—95 million, including drilling the H6 infill well and conducting workovers on the Skua SK10 and SK11 wells at Montara.
Production guidance is 11,500-13,500 bbls/d, average production costs US$25.5-29.5, although year end production all being well will be approx 18,000bbls/d.
The dividend to be maintained with hedging also in the mix to guarantee stability from unforeseen wobbles in the oil price.
Good to be back on track as far growth is concerned with further acquisitions a possibility to bolster ongoing opportunities in Vietnam and Indonesia.