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Very pleased with today's update. To be sure those late orders helped steer this to breakeven. Net debt up as working capital is stretched but that should fall in the coming years whilst the business grows. Assuming we aren't taken over next week... GLA 60p coming in the not too distant

You're right about assuming it is solely related to the charge and stockpiling hasn't distorted prices. In the quarter to September it's around $185/oz and the last quarter came in at $257/oz. I am expecting around a $60-65/oz increase to the basket price and it's worth noting also that those PGM penalties which hit gross revenue were unusually high according to the company and included a negative price adjustment. Also let's remember that despite despite the lower basket price last quarter and those higher refining costs SLP generated positive cash inflows of $1.6m to increase its cash balance to $12.7million. Realistically one might expect cash generated from operations before working capital movements to haven risen to $4 million and the cash balance to rise to $14.5 million

Hello familiar user :) I wasn't expecting any noise here until June haha but this has certainly rocked the boat.

Wow is this really happening! LOL

gotabesirius - I've done the daily estimates for a while now but last quarter my basket price predictions were overly pessimistic and quick far wide. The basket price received was much better than I had expected. Metal prices were volatile so perhaps the company received payments at the opportune time later in the quarter thereby ignoring some of the lows. I'll post something on this next week. If anyone has a more accurate approach than the daily average spread across the month and quarter I would be keen to read about it

The US has carried out a missile attack against an air base in Syria in response to a suspected chemical weapons attack on a rebel-held town. The Pentagon said 59 Tomahawk cruise missiles were fired at 04:40 Syrian time (01:40 GMT) from destroyers in the eastern Mediterranean. In a televised address, President Donald Trump said the base was the launch point for the chemical attack.

12p paid this morning. Possible new year high in the next 2-3 weeks :)

There we have it, they hold a 16.48% stake all told. Has anyone bothered to tally up the rest? The longer this offer takes to come we may hope for further price appreciation but it appears like most of the big holders have declared now and in such short space of time as obliged to do might the offer now be announced this week.

You two play nice! :D

Well I wasn't pleased when it was announced but we are back towards a more appropriate level and no deal confirmation in sight. Perhaps the update was to spark some interest among our influential cornerstone investors to take up some more HAYT stock and deny AVG the chance of a cheap bid. Still hoping refinancing will be sorted before any offer is finalised.

Great post flundra! The heavy buying continues 56p on the ask

Sorry I wasn't thinking, let me correct two points. So, any appreciation of the Rand against the USD results in an exchange GAIN, INCREASING the Dollar value cash position as was mentioned in the Interims. With the Rand tumbling Q4 cash position will take an FOREX related hit. I was thinking in terms of cash held in Dollars as that is what most of them do.

Visitor - Yes incredible turnaround and a boost for us invested. The Rand performed strongly for most of Q316, certainly stronger than the previous quarter. For SLP it isn't too bad as cash costs are so low anyway, the cash-build continues. Interestingly and unlike some of the majors operating in South Africa, the majority of the cash generated is in South African Rand and the company retains Rand as the account currency. So, any appreciation of the Rand against the USD results in an exchange loss, reducing the Dollar value cash position as was mentioned in the Interims. It will be interesting to note if the company begin to take measures to protect against wild currency swings, for dividend purposes also perhaps but moving money to USD or better yet GBP (unlikely). With the Rand tumbling Q4 cash position will receive a welcome exchange related boost should this trend continue. For reporting purposes the company use the USD and so therefore the rising Rand last quarter will have minimal impact on cash costs but I assume negative. Lower PGM production unit costs from as a result of the secondary milling and flotation technology should even out the exchange loss I would have thought. Treadstone - Points well made! I am following closely but have no idea how this will play out. Escalation to the point of the army being called up will raise tensions but I think that may happen if what you say plays it's course. Removing him from power will be much harder than what transpired in South Korea, but like you say he needs to be replace for the good of the country. On a salient point, and completely selfish I know, whilst this debacle continues it is a welcome boost for SLP and LMI, especially the latter which is a marginal producer. Atb guys and gals

Tread - Since our conversation less than three weeks ago the rand bubble has begun to implode. Like you mentioned at the time loony leadership being the trigger with the dismissal of respected cabinet members. The cause as I mentioned at the time "the Rand is nearing 2 year highs against an already very strong Dollar. I have seen nothing recently to support such Rand strength" Good for SLP and LMI (I'm posting quite a bit over there). Ready for the next swing up. Results due soon

45k of block buying at 47p soaking up the sells. Predictions why not, I'm going to predict 70p but hoping for more. This company should be trading up there based on forward earnings and future cash-flow potential. Refinancing out the way would be a major boon.

Precisely! You're spot on and with today's surge on news there will no doubt be heavy buying from 'interested' parties, even those closely associated which is key to achieving shareholder votes from my previous experiences. Expect this to move higher as this interest is now in the open. Offer around 70-80p would be a steal considering long term revenue generation potential and increased capacity. A shame if this happens

I think you misunderstood my post. RBS agreed to extend a number of times and repaying the short term loan only became an issue once HAYT made clear it wanted to renegotiate terms. The official reason given was not one of a merger. In that time the share price fell dramatically. Now I am suggesting, this fall was unwarranted. I wonder who is connected, how familiar our board members and largest shareholders are with those in AVG. The news of an interested party should have been released months ago if they were involved in discussions of inter-company debt! Therefore it seems unlikely they were privy to such talks. I am suggesting we continued to delay repayments to allow for certain parties to buy low. Would not be surprised to see institutional holdings up in the few days. There is a suggestion of related party interest if it turns out AVG are working with one or more of these institutions to mop up cheap stock.

Ridiculous! Should not be discussing any offers until the uncertainty of financing is removed and this is back to trading on a normal platform based on forward earnings! This feels like an orchestrated takeover on the cheap, over-promise and leave the company exposed to short term refinancing and in come the vultures. This is not the time to be merging.

Interesting market update, worth a read whilst we await news https://www.poundsterlinglive.com/eur/6451-pound-to-euro-exchange-rate-to-fall-to-parity-db-analysis

Looks like a nice walk up exercise for the director who had his deferred salary paid in shares. £30k thereabouts worth approx £120k, good for him. Don't think this company warrants current market cap of £14m, excitement surrounding growth but we are yet to see how profitable the year was