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Rhodium up last 5 trading days close to recent highs again.
SP currently lagging behind around the same price for the last 5 trading days. IMO just a matter of time before SP starts picking up again to reflect PGM prices uptrend, as we have tracked rhodium price trend quite well in the past.
The big increase in basket price and profits still to be priced in. Alot going for SLP at the moment for it not too, high PGM margins, low PE, record profits and % increase in profits, nice cash pile and windfall divi.
Liberum's updated expectations of $192 mil revenue (updated SP target of 200p) for the year are not unrealistic IMO. This assumes revenues are 35% higher for the 2H of the year versus 1H.
The SLP PGM basket price now is significantly higher than it was in Q1 and Q2 of the year, which will drive the increase in revenues assuming on average the same PGM output for the 2H of the year. Of course if the basket price can hold at current levels is to be seen, but the market remains bullish on PGM prices going forward.
Assuming the current basket price for 2H of the year, I estimate FY revenues actually exceeding $200 mil but prefer to keep expectations more conservative and hope to see the Liberum target met, which in itself would be an outstanding achievement for the company.
Holding up well today. Normally see some volatility for a day or two after a set of excellent results, before we continue on the uptrend again.
Has already had a pullback over the last week so would expect limited downside with todays results more than justifying the current valuation.
Nice to see Rhodium price holding steady today after falling consecutively over last 5 trading days, still up over last several months. Demand likely to remain strong and forecasts for 2021 are good, which should further boost revenues and net profit for SLP.
Glad to be back in here again after being out for a short while! Managed to buy a good few at 103/104 this morning. Could not get any quotes below that price for any decent volume.
Amazing fundamentals and making stacks of cash. Hopefully a retest of recent 121p highs soon enough! Listed on Aim behaves like a FTSE.
Many mining explorers with prospects only (not discoveries) are valued at £25 to £30 mil market cap. We have a possible huge Tier 1 discovery on our hands in an excellent mining jurisdiction!
Points to consider, taken from Tw and added to:
1-Bushranger located in only World Class Porphyry Province of Australia, known to host Giagantic discoveries! Cadia/N Parkes/Boda!
2-Drill already way past planned depth, continuous 900m+ Cu/Au hit (SOLG Porvenir (Tier 1?) 899m@0.53% CuEq).
3-Drill still ongoing!
4-Hole continues to encounter strong visible copper mineralisation even at current depth!
5-Higher gold grades at depth!
6-Wider porphyry body at depth!
7-Top jurisdiction!
8-Anglo buyout clause!
9-Quote in management presentation on Bushranger: "Multiple IP, magnetic and geochemical features indicate the potential for the project to host a cluster of copper-gold porphyry deposits, similar to CADIA-RIDGEWAY"
10-MasterInvestor article mentioning XTR as a potential GGP. MCap diff, GGP=£1,280 Mil vs XTR=£50 Mil.
11-XTR own 100% of Bushranger.
12-Bull copper (and gold) market, price and demand from EV expected to increase substantially over the years!
All the best holders!
Many holders were not happy when Colin ventured into Aus buying out Bushranger. The move now paying dividends.
Very well done Colin for playing such a blinder, having faith in the asset and proving what a great move it was!
Already a fantastic result from Bushranger with 100s of meters of mineralisation and still more to come, in a world class jurisdiction.
We are in the midst of several very big discoveries (Cadia 50Moz gold plus 9Mt copper, one of the largest in the world to give some perspective on the area) being operated by multi-billion dollar companies.
Anglo having a buyout clause will be paying very close attention! Interesting times for holders. Potential here really is huge!
QandL,
Do you really think hole 1 results will not have an impact on SP? I very much doubt you actually believe that. Its quite obvious your looking for a re-entry.
Read my message below (16:23): The DISCOVERY hole at Boda added £140 Million, yes thats 140 Million GBP to Alkane's market cap. MM's will not wait until all 3 holes are drilled to move this up!