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Thanks CDSI, I am inclined to agree with you as often cey doesn’t drop early as much as the divi plus this is a small one, so any market news or gold change will outshine it. However I already just did. Amazing get the same price on near 200k as 200. To be quite sure can I buy them back first thing tomorrow and I won’t get the divi, the owner after end of play today will? Thanks ps hate trading as so nail biting and doesn’t suit my character

Am I absolutely right that if I sell shares today and buy back tomorrow I will not get the dividend? I don’t really want to pay 37% tax on it. Prefer b&b cgt of 20%

Ps Lucky, I like ‘toady trading’, crawling from share to share rather than hopping about; I am certainly sticking with THS for now, rather than hopping off, and will secrete a foul tasting toxin from my skin glands if anyone tries to buy them off me. All the best toady trader

Lucky, you are both a wise and courteous person

Maybe it will move later today as big investors have their meetings. THS always seems to move like a staircase, staying flat a while, then making a jump. Tiger was I think right, saying that this should be near 200p a couple of months ago, and with continued high pgm prices the argument is even more compelling. At least let’s see 160 now and leave the 140’s fully behind

Spindler quite so, that sale by Eduardo Hochschild hardly showed confidence, especially without any other explanation, now does the hedging of silver

Interesting thought, our share price would be 140 at the exchange rate of a year ago. Wor the remembering that as we work in dollars our share price gained a lot on the pound’s initial fall on Brexit news, and then further falls as negotiations went on, but has regained 15% from the low. Of course our share price was 185 a year ago. But fall is not as bad as it seems , a real 25%,

I do think one of the challenges for the Ths price is that they reinvest so much of the profit. rather than returning it now, and historically many miners have reinvested profit at the expense of shareholder return, to grow companies, only to find it doesn’t work out as prices drop, mines fail, politics interferes etc. Just a thought on why the big divi payers are so much higher rated, and how the sector has recovered by not investing, which can of course be equally dangerous.

You are totally right Lucky, I was reading them too fast, phew! But why is the share price not reacting (yet) or does the market think the price is about right for the cycle peak, and with the chrome tax shadows? I know these figures are just what we expected, so nothing new, but even so to see it in print! Will there be any bigger reaction to the same news with the results next week, as there may also be good forward guidance which should be even 50% higher again at these metal prices, or plump dividend news, which should be around 7c at current profit and 10c going forward if these metal prices remain, .thought that is about 3.5% yield which is near half Centamin for instance… if my maths is any better than my reading!

Seems to be about $56m for the half year. So PE of 5 which is not far off where Tharisa usually is as Rhodium etc peak. However this is backward looking so as pointed out next half should be better. But why is headline earnings per share only around $10m for the half year?

This is a bit more like, may it keep going!

There is no advantage in buying a share before the dividend, in fact the opposite if you are not buying in an isa or sip. The share price should fall by the amount of the dividend the day it does ex div. (plus any changes for other reasons that would be happening anyway). You pay dividend tax on the dividend (unless within your allowance in which case also no cgt) but the cheaper price by buying after it means you become liable for cgt for that amount when selling, but this is at a lower rate or nothing if within your chunky allowance. Therefore buying in advance of the ex div date for the div makes no sense. Of course the divi makes big sense for long term holders but to shift to cgt I actually sell before exdiv date and buy back after tho scarier in a rising market.

That is definitely true!

Bonker why would someone take the other side of the hedge at the then current silver price and throw in a quid pro. We have enough capital for the rare earths so how could it be a quid quo pro for that. I am a believer in Occam’s Razor and the simplest explanation, so I believe our board, who say the did it to protect Pallancata viability in case silver dropped, as happened with our also expensive to mine Arcata mine that had to close. This is from the last quarterly
report “ On 8 February 2021, the Group signed agreements to hedge the sale of 4,000,000 ounces of silver at $27.10 per ounce for 2021 and a further 4,000,000 ounces of silver at US$26.86 per ounce for 2022. This is to protect cashflows from the Pallancata mine in the next two years with the existing resource base.” Shame they did next year too, unless silver tumbled. But nice to see share price up a bit as opinion polls show election narrowing. I still bet the farmer will win, and that he will manage to get some tax rise through Congress; as metals rise we are going to see more windfall taxes around the world, see Chile where we have the rare earths, and Argentina San Jose. Despite the hedge, hopefully rising metal prices will pay the extra tax and maintain our share price.

or both balanced meaning static price?

Bonker let’s hope this is what we have been waiting for and break through $30, shame a third of our silver is hedged but can we persuade them to ripen Arcata. The shame is that unlike us they have little faith in the silver price rising, hence the hedge, so will not be brace enough tho Arcata would be very profitable at this silver price. Why not hedge its sales for next year and reopen if they are that afraid.

Huge apologies meant rhodium not ruthenium

I think the Tharisa share price usually maxes out at the peak of the cycle at about 6, now it is probably around 4, however this cycle has been more extreme; ruthenium our main profit source has doubled since Christmas but our shares in rand have remained nearly flat so my view is the market doesn’t believe ruthenium is here to stay, if it keeps up we should rise, but it has had 5 goes at 30k and failed…. I would never put so much in one share, even the 40% I get to sometimes is crazy, anything can hit you left field including if or when the chrome tax comes, I have 15% here. As mentioned to Tige there a few weeks ago Cey might be a better bet right now, so far it is up around 15% while Ths is flat. Of course the financials may change things in less than a couple of weeks but they are backward looking and depend on prices Fromm 9 to 3 months ago the first half of which had ruthenium under half now (I think!)

Yes Forseti depends on the drilling results as you say so could be great and we will soar and if not tumble. I have about 4% of my portfolio here which seems about right as can afford to lose it all tho sad, but love the potential to double or treble. However I would say dangerous to hold more than 5 or 10% of your holding here as tho might miss a rise could lose it which would be awful if like someone who posted her you had 70%. Even in a company making regular profit that would be very dangerous. Imho. Ps sad not linked to gold price but next unknown results

Profits post exceptional in last two pre covid years were approx a rather miserable £25m and £50m. Let’s hope increased metal prices faster than rising costs obviate the increased tax in which case will remain at PE between 20 and 40, which is still quite steep? Shame a third of our silver is hedged and already at $1.5 below current price and reducing our exposure to further rises. Maybe the board could reopen Arcata to take advantage of these