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Amazing today we are back to the level at which we raised �250k back in October last year. It's amazing because we only held 217.125m shares Calidus Resources at the time which was 22.58% of the Calidus' then issued share capital. Now we have received a further 241.25m Calidus shares after acheiving the first performance milestone. I believe Calidus has a market value of more than �35m today and the value of our 458,375,000 Calidus shares are now worth approximately double the current market cap. There is now a 541,000oz Indicated Resource at Calidus' Klondyke Project with a further 171,000oz Inferred. Calidus are fully funded having recently raised AUD$10 million via a heavily oversubscribed placing of shares in Australia and intends to carry out further significant drilling this year. Calidus has the capacity to continue building upon the current resource both down dip and along strike and has said they plan to convert some of the large number of satellite targets to resource status during 2018. They will then deliver a pre-feasibility study before the end of this year, after which the third and last tranche of performance shares will be issued to KRS.

Nice comparison Visitor, plain as day for anyone looking in and hopefully there are new investors looking into Sylvania. It's very difficult to place a valuation on any company but it's much easier to spot those lagging behind when their fundamentals have improved massively! It's not an exaggeration to say this is incredibly cheap right now. In Dollar terms the basket price is now $1099/oz according to the formula but expect it to be well above this given the growing premium we have seen in the past 6 quarters so it's possibly closer to $1200 (this is the current quarter to March 18) In January 2016 the basket price dipped as low as $723/oz and costs were higher then! Phoenix may have a small impact on the basket price but those ounces will feed straight into the profit generated from the group operations. How much EBITDA did they generate last quarter and how much more will it be this quarter? I'm guessing around $6.6 million rising to $8.2 million based on creeping production and the rising basket price. Working capital made a big dent to our cash savings last quarter and should reverse this quarter somewhat which will further enhance the last quarter figures. Wuffle your point about the gold / platinum ratio seems to be playing out too. Platinum has bounced well following the dip below $900 and this could be attributed to golds strength. Dollar weakness is driving the overall picture but as it goes higher I would expect the gap to close partly for the reason you've stated :)

Is it time?

RBR speaks logic, this isn't a buy and hasn't been for quite some time. People must surely know this in their gut. I have bought into stocks because of potential in the past knowing deep down it wasn't the right time. Why risk your hard earned on this? The current forecasts from Larry which were revised down as we all know will push the company down additional placings in the near future. GL anyone riding it out

Agree with ragnars last post, it bodes well looking beyond the next quarterly result. We are sat very nicely in this with palladium up another 1.5% today alone, up to $1075/oz! With you Visitor, I don't think we are going to see the enormous gains seen at the height of the 2008 bubble just yet but we are looking at 2000-3000/oz this year if the trend continues and like you've mentioned, consecutive annual deficits are beginning to take their toll. I have the basket below $1,100 currently but as we've been witnessing their has been an increasing premium paid on the basket price each quarter for the past year or more. So if we factor in the biggest premium to date given the strength of the basket price being at it's highest we should be well over $1,100 going into Q318. We are due results for Q217 (covers up to December) at the end of this month

Just to add to these thoughts which I apologise are not presented very clearly nor in a concise manner but with Phoenix being brought into the fold production is expected to increase from 70,000 ounces this year to around 75,000 ounces. In the 3 remaining quarters that's an average jump of 17,800 ounces to 19,500 across each quarter. This will be weighted towards the back end almost certainly so one might expect 17,500 this quarter and 19,000 in the following and potentially more than 20,000 in the fourth quarter. Add to that the comments last quarter regarding Millsell and Doornbosch MF2 which are factored into the 70,000 ounce forecast due to be commissioned in the current quarter - "I look forward to seeing an increase in production and recovery efficiencies which will bridge the gap created by the scheduled Steelpoort plant closure."

Thanks for the explanation, I can see how you've come by that figure which sits between the listed unit cost (Q1: $496) and group cash costs (Q1: $519). Regarding the exchange rate being 12.5 remember these reports take the average not the quarter end report so I wouldn't expect such a huge shift but rather a trend over this quarter and the following if the dollar doesn't clawback some losses - "The functional currency for SDO is SA Rand and the exchange rate shown is the average over the period indicated" Something you've not mentioned which is very important and the reason why costs increased so much last quarter is the link between unit costs and ounces produced. We saw production fall 8% on the previous quarter from 17,954 to 16,589 ounces and this was the primary cause of cash costs rising - "The cash costs for the SDO in Dollar and Rand terms have increased 18% and 17% respectively from $422/oz (R5,572/oz) in Q4 FY2017 to $496/oz (R6,541/oz), primarily due to the lower PGM ounce production for the quarter." We know production is due to pick up in the following 3 quarters and this should significantly cut unit costs despite initially higher cash costs projected from Phoenix which are expected to reduce in the latter quarters of 2018. Unless there is a poor quarter of production we will see cash costs fall in Rand terms. The USD:ZAR exchange has only recently turned on it's head and should not make a huge difference to figures this quarter as they are averaged across the 3 months.

The coding has since changed, indeed what I quoted was for a different company but the RNS came on the 15th http://www.lse.co.uk/share-regulatory-news.asp?shareprice=PET&ArticleCode=apeo2715&ArticleHeadline=Settlement_Agreement

Yes we do. I was not referring to another company. Petrel put out an RNS on the 15th, go read. The share price shot up in the lead up to that announcement popping up after a long quiet period. The day before the announcement the share price peaked before falling on news. I am certain the rise was linked to the announcement and it should make us all wonder how traders get wind of deals and the insider trading that takes place.

Platinum for example is at 6 month lows 11,360 there abouts

All positive as we lead up to the year end ragnar! Basket price has never looked so rosy. Could you go into a little detail on how you've calculated cash costs to come in "well over $500/oz next quarter" Operational costs are 96% ZAR based before Phoenix was added to the mix and I would imagine it's similar so the big move in the Rand this past month will look worse on paper but the exchange move doesn't affect us too much. The basket price has increased nicely in dollar terms BUT I believe it's here that the Rand will punish us. Receivables are predominantly Rand based and due to the exchange movements metal prices have suffered this month.

"To support any application to the TSX, Landore will be required to submit an updated NI 43-101 Technical Report on Landore's Junior Lake property to include all of the previously reported mineral resource estimates as well as the BAM East Gold Deposit. Accordingly Landore has engaged Roscoe Postle Associates Inc. ("RPA") of Toronto, Canada to complete the Landore Junior Lake Technical Report which is scheduled to be finalised during Q4 2017. The Technical Report will include resource upgrades on the following: - The BAM East Gold Deposit: February 2017 Mineral Resource Estimate of 301,000 ounces gold plus upgrade to include 11,060 metres of additional drilling in 2017. - The B4-7 Nickel-Copper-Cobalt-Platinum-Palladium Deposit: January 2013 Mineral Resource Estimate of 2,695,000 tonnes at 1.24% Nickel equivalent (NiEq) in the Indicated category for 33,248 tonnes of contained metal, plus upgrade to include 16,910 metres of additional drilling in 2013/2015. - The VW Nickel-Copper-Cobalt Deposit: January 2010 Mineral Resource Estimate of 3.73 million tonnes at 0.49% NiEq in the Indicated category, and 0.72 million tonnes at 0.49% NiEq in the Inferred category giving a combined total 21,760 tonnes of contained NiEq metal. The Technical Report will also include a review on the following: - The Lamaune Gold Prospect: Exploration Potential of 40-50,000 ounces gold. - The Lamaune Iron Project: Exploration Potential of 300-500 million tonnes at 25% to 35% Fe.

Before that I believe they are compiling a full JORC standard report for all projects currently under LNDs control. This will add significant value for the reasons stated in the more recent updates. Recommend scrolling through them if you're not clued up already. Should be 3p by now.

Well we know now why the share price shot up in recent days. Typical AIM, news leaks early. In this case it looks positive. They are going after Tin, Tantalum and T... (I forget the third T) plus the two Cs (not the rude one you're thinking but) Copper and Cobalt. Early revenue path is something so many companies claim in order to entice the unwary but it may be a fair bet in this case as the previous company trading with this licence were generating sales. Impossible to know the scale of this though. For now it's enabled PET to raise a serious sum of cash and if used sparingly could propel the company further. Lot's of new shares going to hit the market however and that's the update out of the way so I'm not convinced this will rise much further short term. GLA

*Correction* https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvTDYC5Qu1yheZo%2FZwke92GA%3D%3D Confirmed! And also just to add what an incredible jump! We have 712,000 ounces of gold confirmed now, a 74% rise but more importantly 541,000 ounces are confirmed Indicated category!

https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvTDYC5Qu1yheZo%2FZwke92GA%3D%3D Confirmed! And also just to add what an incredible jump! We have 712,000 ounces of gold confirmed now, a 74% rise but more importantly 512,000 ounces are confirmed Indicated category!

Strange time for an offer to come in, almost seems orchestrated but hey ho it's not a bad offer considering the pressures facing LMI. I said last year Sibanye would likely make an offer and with palladium outperforming, easing concerns over the Stillwater merger it will allow them to swallow up the 5th largest PGM producer in the world which should place Sibanye in the top 2, possibly the number 1 PGM producer. I don't expect the offer of £1 share equivalent will be reached, Sibanye stock movements will see to that but can't see why the share price isn't up to 90p+ given the liklihood of the deal succeeding

This is certainly worth reiterating, the price action in the past two weeks is very encouraging, $60k/tn up to $75k/tn https://www.lme.com/Metals/Minor-metals/Cobalt#tabIndex=2

20p that's some discipline! I'm sure for many of us if we hold to that level it will be a life changing sum but I am quite risk averse these days so honestly speaking I intend to drip feed 5k at certain intervals to derisk along the way. Buying back larger amounts if there are dips which there surely must be at some point

The other end of the order is revealed :) So that's £140k mopped up at 14p yesterday to add to the £67k mopped up at 13.45 a day or two earlier. Now the waiting game begins again as the big background buyer(s) seek more shares. Happy enough to be vindicated there was a big trade brewing at 14p but a little disheartening to see people sucked into selling at todays prices. We are well on the way to 15-16p and as Dan the Man says, should be much higher