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The Oracle is quite right, Hochschild is now a gold miner with a bit of silver
Also interesting that THS PGM basket’s biggest constituents now are, by my fallible calcs, Platinum 36% rh 31% iridium 15% and palladium only 13%. While Karo basket has Palladium and Platinum as biggest both at just over a third followed by gold 16% and then rhodium. So Karo basket has been recovering a bit faster this week. Remains to be seen if Palladiumnis a dead cat bounce or proves real
15% up in just a few days, I don’t call that sluggish but rather wonderful the last few days
We usually have them a couple of years out, they have proved very useful over past few years enabling us to sell silver at $26+ which has been v useful when Pallancata silver so expensive to get out and prevented even bigger losses from that mine. This is a nicely electric share when it works
The RNS looks interesting though more years of jam tomorrow as they continue to invest heavily in building output back to replace the underinvested worn out mines they ended up with, however at least that huge problem was recognised, is being addressed and the future looks bright for the family and those happy to stick with the shares long term. In the meantime the gold and silver prices will hopefully help out though of course some of our output is hedged
Money man, thanks for the gentleness and being a such a gentleman, looking back through the figures you are right and maybe PGM’s have found a bottom, though a bit worse for Karo where Palladium is getting on for half I think. Also the basket is up a bit today so you are even more right. However PGM profits are down over the last couple of years along with the share price that seemed so cheap then but maybe expected this.
What about the hedge, and the Pallancata shutdown?
Money man, unfortunately the profits may fall as much as the share price with the continuing falls in PGM’s so the PE may remain around where it was. The world’s largest car market continues to increase the share of pure ev’s, already nearing 30%, even a small drop in demand for PGM’s can reduce the price a lot unless supply falls too and this is just getting worse. Luckily we have the chromium as long as this price stays up, but it seems to have halted for now while still plenty of inflation. Just as long as it doesn’t do a nickel. So the price seems fair to me for now with the Karo worry on top. It isn’t a great time to have a lot of debt and a capitalisation now just £144m. I wonder what they’ll say in the next report, they seem rather defensive now which I find a bit worrying, though all this is only my totally uninformed and unprofessional opinion as these bulletin boards are used and I certainly don’t suggest doing anything though I am still holding.
According to gold website the metal has just hit an all time high in sterling. What we need now is it for it to make an all time high ex inflation, ie in rel terms, to take account of increased costs, and bring the share price back to an all time high in real terms which is about 3 times what it is now
Mr Tibbles thanks for posting this; it is impressive if frightening how successful the fake news proponents have been in tarnishing the 4th estate, the 4th pillar of democracy, so that now made up news is thought by many to be truer than the real thing. Undermining psb’s is a key part of this, and a great success story for Moscow, although it has a long history from Octavian falsely smearing Anthony for his affair with Cleopatra to Lord Northcliffe Goebbels and Stalin, however never has there been technology like this to disseminate falsehoods so successfully, as the St Petersburg troll factories did in recent elections. It is becoming hard to know even when what we read about Cey is true when so many believe what they read on the net that tarnishes those working so hard to give us the truth. So I may not agree with you but thank you especially when you talk about Centamin from an honest if not always informed viewpoint like most of us.
Kind of you to remember, dividend probably 2c or if we are lucky 2.5c, ie halved since 2022 and worse since earlier, so sadly the house now just a dream, I feel very guilty to my spouse, and tharisa to which I moved some Cey has been even worse with lousy prospects. Each time gold gets to this point….it seems to fall back again, the price in real terms is down over many periods while costs of course rise.
Tibbs, gold is within £5 of its a time high, now the company is more steady as she goes methinks the share price is far more affected by the swells of gold that mining a few more or less punces etc, I remain hoping…have a gt weekend
Sadly I have remained fully invested only adding over the years, I still haven’t sold a share, other than a very few last autumn to help buy a new car. I was unaware of the Karo share purchases posted here with notes to accounts, it is not me who posted these and the questions, so criticize them if you want. I have never claimed to have the sort of knowledge many on this board have, which is partly why I am keen Ilja explain what all this actually is, as I expect there may be a simple company accounting explanation and they do not rally value Karo at over a billion when buying shares, he is usually so forward so a bit worrying on top of the somewhat scary posts. I still have all 542501 which have halved. Have never shorted wouldn’t know how. I correct only on things I know about like world ev sales and how marginal changes can have a multiplier effect on PGM prices. I have been right about falling PGMs but hold for the wonders of chromium that has so far survived the Chines slowdown well. Just want Ilja to explain the posts that have come this week to me as beyond my knowledge level. All best and I appreciate all views and questions here, this board is not just to ramp shares but for the knowledgable who have posted this week to illuminate us about worries too, and for Ilja to comment on these as well as the positive. Thanks and good luck all