Member Info for sheffieldowls

MarginMiner I understand what you are saying about the company having a share buy back operation but it is a tax efficient way of returning money to shareholders. I would be interested to know if the company would ever consider this matter and are asked about this at the AGM. I have just looked at KEN I found it very interesting and informative. I find the daily share price movements to be quite unusual with quite significant differences between the daily high and lows.

Please will a shareholder who posts on these boards ask the company at the AGM if they would ever consider a share buy back program as a way of returning cash to shareholders?

Thank you Retired Banker and Daisan for your views. Retired Banker I have followed your advice and have purchased twenty thousand shares in the company. Sadly I did not buy these shares years ago because many people like you have made great profits. I found it interesting that my stockbroker had never even heard of the company. I appreciate your advice and guidence and am confident that in due course I will make a substantial profit. Just like you I have shares in Sylvania Platinum as well as Altyngold but our holdings are reversed in that my holding in Sylvania Platinum is many times the value of my holding in Altyngold while for you its the other way around.

Retired Banker

Please may I ask you why the share price has not moved in the way that you predicted to around 1500p . I think that the recent results were encouraging but the share price has hardly moved at all.

Artrader

I decided to follow you into buying more SLP shares today so I have just purchased 51240 shares at 101p.

Artrader That is not a very positive sign is it my friend.

Perhaps that's so but they had several days when the price was below one pound when they could have picked up some cheap shares. It looked a good day out last Saturday I would have liked to have been there but I am still in the USA.

Artrader

I am wondering why they have failed to buy back any shares for the last month when they could have purchased a significant number of shares at a price below one pound a share this makes no sense to me at all.

Artrader I would prefer the dividend with all my SLP shares being in my ISA.

LunaNera

What you are saying is thought provoking however we should remember that only just over one month ago two directors made substantial share purchases at a price in the low to mid eighties and as you said they know the business better than we do.

For most of the 20th century platinum was known as the rich man's gold as the price of platinum was more than the price of gold. The peak price difference was in 1968 when the price of platinum was 6.63 times more than the price of gold. It made a lot of sense that the price of platinum was significantly more than the price of gold as it is thirty times rarer than gold and has a lot of industrial uses. Everything changed in 2012 when gold became more expensive than platinum usually by 2.3 and 2.7 times. The interesting question for me is will the situation change in future with platinum once again being more valuable than gold and if so I imagine that the share price of SLP would increase significantly. Does anybody have any views about whether its likely that once again that platinum will be more valuable than gold.

Hi Velo

Thank you for the answer to my question most of us are anticipating that the share price will increase after the results are announced so I for one have been surprised that they have not being buying back their shares at these current levels.

Has the company told the market when the quarterly results will be announced please may I ask?

Bangrak

Thank you very much for your reply. As I believe you are aware I took your advice two or three years ago by selling my significant holding in SLP and investing the proceeds in RFX which doubled in price. I then returned to being a shareholder in SLP last August and September at an average price of seventy seven pence a share. I am indebted to you for your advice on this board bangrak.

I like share buy backs if the share price is low as it is at the present time and it is not being used to increase the share price with a view to enriching directors with their share option schemes. As mentioned yesterday why is the company not seeking a more significant buy back scheme than the one that has been announced with a maximum share buy back amounting to just two million dollars which at the current price of ninety three pence amounts to around just 1.6 million shares. The company has already announced the purchase of 905,000 shares and add to that what they probably purchased last Thursday and they may have already bought back over one million shares. This seems a wasted opportunity to me if as expected the share price improves at the end of the month when the next quarterly results are announced.

Bangrak

I am well aware that you are a highly respected poster on this board so please may I ask you if you were to choose just one company to invest in would it be SLP or ALTN?

Central Asia Metals a few months ago announced a share buy back of up to ten million dollars so why is our share buy back only up to two million dollars I am wondering with the share price being so low and with us having plenty of cash on our balance sheet.

RetiredBanker

Thank you for your advice about this matter.

MarginMiner

Thank you very much for this information about the company. I need to consider if I should sell more shares in Sylvania Platinum in order to increase my holding in Altyngold.

Retired Banker/Visitor

Thank you both for you postings if I am honest I had not even heard of this company until I read a posting from Bangrak on the Sylvania Platinum LSE site two days ago. I am going to spend sometime this weekend reading up about this company because after reading past reviews it seems a good buy at the current share price. Is there any possibility of a dividend in the near future please may I ask? What is the level of the family shareholding please may I also ask this board.