Our live Investing Matters Podcast Special which took place at the Master Investor Show discussing 'How undervalued is the UK stock market?', has just been released. Listen here.
Also, Tharisa make it very clear that the dividend will be rapidly moving, depending on the price of PGM and chromium, and always be a little bit above 15% of the profit from them. When you buy this Share, one should be aware that the dividend moves wildly, it comes to the same in the end, just higher dividends in good years lower in bad and with mining good and bad can be very different
Mike, just what I expect 1.5c divi, but the nub as you suggest is going forward. The PE is 3 in the rear view mirror. Next year if this share price was maintained profits could well be half making the PE 6 which is not amazingly low given Karo risk a lessening pgm demand. The dividend tells the story 9c 7c 4.5c accounting for a share price halving with a bit more baked in for next years profit fall. If halves again and we get a divi of 2.25 then presumably share price will again. However with most profit now from chromium the ke for me is if that continues to decline. If it turns back up then we shall be fine….if
Well half the ‘gold expertsk should be randomly right although the proportion doesn’t seem to be. Maybe as so many sell it too or just as too unpredictable. We should have a team of monkeys with darts. However I sincerely hope he is right and remain ever hopeful…a triumph of hope over experience. But thanks for posting
Moneyman, the concentrate 42% was over 300 in Sept and near 310 in May but has been paused just last few weeks on its apparent staircase down at 282.5
However HC Feerochrome 50% has come down from near 330 earlier in the year to 255 on the THS weekly figures, and down nearly 2% just in last week probably halving profit from this? The big question is whether the trend of this year continues but I see no reason not, while rhodium has hopefully found a floor (though not platinum or palladium)
So will final divi be down to 1.5 c? PE looks below 3 but looking forward that will increase and if chromium continues to fall further by quite a lot unless the share price fall further? We are in the hands of pgm and chromium prices
What we have to hope8# that gold repeats its rise of many years from Nov to spring/summer, so far so good, these are rises from end Nov (ie as now) all approx
2015/16 +20%
2016/17 +13%
2017/18 +20%
2019/20 +30%
2022/23 +15%
No impediment at all to taking over Centamin(at the right price) as Endeavoir tried (but not thought enough) but as I was saying and you point out they only get half of Sukari which they have to share with Emma which might put off many large miners? So we quiet agree