Member Info for Sotolo

if iridium rises by over 50% to $10k only increases the basket by a bit over 3%, if Rhodium increases by just 5% it does more, and maybe it is readying for another assault on $30k. But if rhodium falls 5% if obviates the 50% rise in Iridium. So although the Iridium is lovely the rhodium is much lovelier, just bought some more

Amazing Hoc is down again

Arfur, I think the real key is if gold can make it back through the old high around 1930, you are quite right however that we have no idea if this is a bounce in the bear as many commentators claim, or the real thing, depends a lot on real rates. Whatever at least we are finally getting the bounce we were hoping for a month ago and I though should take Cey to near 130, then decision time. Of course results may help if we get som news on W Africa and concessions but both seem to take for ever

Our basket seems to be level pegging a little above $4000, now $4170. Also Lucky for us that Ruthenium, that now contributes 2/3rds of PGM profit, oz mined only fell 5% in this bad weather quarter compared to last, while Palladium which only contributes a tenth of profit, oz fell 4 times more, 20%.

Tiger, given the different miners you recommend, just wondering is it time to return to Centamin? This quarter may be better than expected, news coming on concessions and W Africa, two year outlook very good as ounces rise in 2023 and costs tumble, just a thought as the price has halved on the recent problems that look like being overcome by decent new management?

Thanks Bhargav, your views are always appreciated as you have such knowledge; just it is helpful if everyone here is not a bull as there are obviously sellers in the market and very helpful to know how and why they think too. I for one am also very pleased that Brad has stopped over hyping as Salazar did when the company was Uruguay minerals sucking in investors who lost 100 fold, I want Brad’s your and Webbs’ honest opinion, and appreciate respectful debate here from all, if respectful debate is still possible in Britain where so many have given up one of our greatest and most important historic virtues.

Well Webb’s you are currently most accurate at predicting on this board, it was a dead cat bounce, but will we find a triple bottom or plunge on down. Webb really appreciate your comments as seem the likeliest here to be right, as so often with shares the contrarian view so often wins out. I will remain holding as I have through all the vicissitudes of Omin I have held most of this century

Well my unfounded optimism certainly put everyone off this board, perhaps they know that when I sound optimistic the share is ready for a tumble. I shall return to being Cassandra as miss you all

Let’s hope you are right and he is wrong but we are all guessing so unfortunately I think he is quite likely to be right, I would say 50/50, so no more a fool suggesting this is a dead cat bounce than any of us who think it will rise, let’s just hope we are right, but getting likelier he is

Lynny I like Tiger am buying more at this price even tho I am topped up. Although production is down so costs up, more than usual last quarter we are still churning in the cash and this quarter should be very good. However as some pointed out yesterday we will have to wait a bit longer for this to reflect in share price. Hopefully May figures will help and we will not be hit by other impediments

Thanks, tho very sad market taking the same disappointed view as me, wish I was very wrong and they would soar as we hoped today, roll on May, as said however just when all the stars align in mining hubris is always hit, this time our (smallish) nemesis seems exceptional weather, but there is so much else hence I think the price

Yes, this quarter always bad weather but this time worse, Phoevos talked of the headwinds of extreme weather conditions, which impacted production more than usual, so only repeating what he said. Thanks

Thanks for that, also interesting Mail Midas article pushing Fxpo this am

Gosh even on this so civilised board any reporting even of what a chairman says is considered deramping so just to emphasise I am not a subtle deramper, sorry if profit and PE will be a bit higher than I thought (well actually v pleased) but as said written on quickest glance and thanked wise Visito; even so will not be as high as many of us expected. However I reami a V keen on Tharisa as the heavy capex comes good, taking more advantage of the good prices; have bought more last week, and am now up near 250k shares which is quite a lot for me, I am just slightly disappointed for the reasons given and that Mr Pouroulis isn’t more upbeat. However I remain very excited, as many have posted for the May financials, just a shame production was down which pushes up costs per ounce this quarter

Thank you, still disappointing to see PGM oz down near 10% (tho luckily rhodium down near 5%, tho Palladium off 20%) at this time of such high prices, and chrome down too. This time weather, always something that pulls miners back. What do you see share price doing this am, level pegging?

On quick scan seems PGM production down 9% on first quarter, chrome more expensive transport and it looks like cash went up $31m which on an annual basis would be a PE of about 5 compared with over $ 50m giving PE of 2.5 many of us had been predicting. This PE is about where our share price gets at the peak of the cycle. Let’s hope it stays here and doesn’t fall a bit on these.

I have to say I was relieved to be filming shoes in Northampton (Kinky boot factory) rather than making them on repetitive lines inhaling the glues etc, getting aching limbs and stress from boredom. 50 years ago people spent far more on shoes than TV, now we mostly have too many shoes and don’t want leather and we spend more on TV subscriptions than shoes hence the move in labour, reduction in factory accidents and another contributor to lengthening life expectancy, tho I have to say alcohol is a danger in TV. Specialising in services from financial to advertising and TV and of course buying and selling gold rather than the horror of mining it and working in factories making shoes seems to me a plus and has made us richer. More and more automation will help the world move more to services. Look at reductions in car and farm workers as services have soared

Yes that is so, if you stopped the heavy capital expenditure and paid 100% of the profit in dividends rather that 17%, but we keep investing most of the profit now to improve future profitability which lowers the share price now but hopefully raises it in the future, if Zimbabwe Vulcan etc deliver as they are supposed to and metal prices stay up imho

Thanks Impecunious, I am on tenterhooks after last but one made us double, and last one halve

Sorry that is a reply to us becoming tier 1, which we are definitely aiming for. As said:
Currently need to get output over 500k oz, with aisc under $966, so output needs to rise about 20% and costs fall a fair bit more but than that, but that is what we are aiming at for 2023