The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
Yes freedom diversification in metals is great, though Karo will make us more PGM again. However it is not so great when both Chromium and PGM are drifting down in tandem
Probably your imagination as there is nothing yet to suggest the two year trend down has reversed, far more likely a bounce in the misery, but here is hoping you are unlikelyly right
Thanks, a bit out of day as basket value is nearly a third more than the current price. what is base metal blended price of $15099 which is little more than Karo basket
Sells for now?
With falling prices rh is down to 40% of the basket ie 20% of overall profits v roughly, with chromium highest followed by platinum/palladium combined
Well the price isn’t down as much as I feared so if we can stay here with this bad news I think the future bodes well. My worry is how much the market has priced in the Inmaculada compromise. And my question is making over $200m at these kind of prices ex tax etc why profits are so low and if that is because of Maria Rosa capex in which case we will be reaping the rewards in just a year.
A tale of two companies: Yes Prof, I expected a 10% hit to Hoc this morning, also reporting today, and a flat Centamin. I wonder how wrong I will be. I am pleased with Cey because results as expected, and the full year at these gold prices should be nice, hopefully we shall begin to rise a bit more now, on the other hand,Hocschild has cut its dividend to nothing with hardly any profit, it’s main mine permit will be resolved but with what they imply will be a nasty, profit hitting compromise. so Cey the jam is beginning to finally come today, Hochschild is very much tomorrow. Even Cey didn’t stop its dividend at its toughest moment.
Thanks Prof, Bushy has been equally unpleasant over on the Hoc board but I have to say that there like here other members have been most decent and supportive, touchingly so after a very hard medical week, (which might use up the house money so maybe lucky couldn't build due to key collapse) giving one faith in humanity. Most people are decent, particularly on this board but also on the smaller Hoc. The Hoc results are delayed by two months finally out on Thursday which is scary.
silver has finally reached our hedge price, I have to say one thing management did get right was hedging a third of silver output a couple of year ago as silver has rained below their hedging prices since, despite criticism here at the time, though sadly although designed to keep expensive Pallancata breaking even it was not enough as Pallancata costs soared over $30, however another $10 on silver and it might even reenter profit when hedge is over
but chromium now descending tho nothing like as fast as rh, I bought more Cey around £1 with the intention of letting them rise, then selling to buy more lower THS. I am waiting a bit longer
Thanks Bushy, I think I remember you from the school playground. “ Only 4,000 individuals (less than 1% of the population of day traders) were able to consistently profit, net of fees.”. Most short term traders also lose. As a holder overall I have gained, Cey well back in the black and Hoc up over 50%. So please be tolerant of those with different outlook than yours. Luckily most of the world is not a school playground even….
And it remains true that a good permit result will be great for the shares, a bad one awful but what is likely is a compromise who knows? Anyway respect to you and your trading success just not everyone can easily double their money trading Hoc as evinced by most of those here. Love and kisses
Well the market was annoyed around 6% first thing now a bit less annoyed,
Thanks, so pgm ounces mined down 20% quarter on quarter, due to adverse weather, and total forward guidance down 10%, wonder how much the market will mind
Paul one of the wonders of Centamin is a large proportion of profit has been paid out in the dividend rather than being invested in more holes, however the management have said that the dividend will now become a reduced amount of profit and I imagine continue to fall until profits are substantially higher
Gosh Owl if your purchases are such a good leading indicator, does this purchsase presage another fall, maybe on the results which will be poor or maybe on the permit which might be dire? Ever heard of the expression five times bitten, sixth shy, or not for you?
What Brazilian asset, we floated the rare earth and retain a small stake but it is stalled environmental permissions having been removed and. Or Volcan they have been trying to sell and is a speculation on the future
Yes Prof basket down below $1800 and Karo $1550 with hefty borrowings to pay back. You could say the metal prices are catching up with the share price that looked so very very cheap but was anticipating this. You could take solace that the share price stopped falling a while ago anticipating that the basket would flatten out or not fall much further. However as I see it Rhodium two year into a bear market so Ibhave no idea where it will end. I am just hoping that PGM’s break even, that Chromium remains very profitable and that Rh turns in a year or two to save Karo that could be wishful depending on how the electric revolution goes and if third world ice demand increase outstrips China Europe and U fall
Prof why should it be temporary? The saying is the trend is your friend and this has been going on two years so not sue where the temporary is. Pretty worrying for Karo which must be entering loss territory. Another near 10% tumble today
Bushy I am not bitter, quite happy but just yelling it as it is and reporting what the company has been saying for a while, the company is not bitter either tho could communicate more. I remain ever hopeful, just today not a bit of a surprise xx