Member Info for the_shareminator

I tell a lie in fact, just checked the Rhodium market price and it swung higher on the 12th and 13th from a base of $765 up to $800. That's where it was 2 days ago and assuming $800 still our basket price is around $853/oz

Is that the HSBC article from February this year or a more recent update? South African PGM mining costs are marginal at current levels like you've read. Coupled with under-investment in replenishing old supply and steady demand it should lead to larger annual deficits. Movements like today add pressure to the majors to further trim their costs and more than likely reduce production. What we really need is to see improving demand quarter on quarter, not reducing supply. Trump's infrastructure investment plans should have a knock on effect in 2017 and perhaps by 2020 we will see $1300-1400/oz platinum. SLP will have cash costs of around $400/oz throughout assuming they don't add on Project Echo expenditure to the bottom line, instead keep that separate as a group cost and recoveries remain broadly unchanged. Precious metal prices have tumbled off the back of the announcement by the FED that there will be up to three rate hikes in 2017 at a time of weak inflation. But despite falling our PGM basket price is $844 which was a similar level seen in June of this year. The quarterly average thus far is higher. We remain profitable and cash in the bank will continue to rise. Managements decision not to issue a dividend just yet at a time of capital reinvestment and PGM volatility has proven correct. Too many are all too eager to question the helm but they have the most experience sailing through choppy waters. http://www.platinuminvestment.com/files/WPIC_PR_Glaux%20Metal_290116.pdf

You've lost the plot haha there is only one of me here to correct your false statements. Somehow your logic of bailing to a share that has fallen 42% since results but paid a 1% dividend is a better decision than sitting it out here in SLP and being break even? And not to mention that decent 25% swing you could have banked profits on... Wage negotiations are settled for the time being, the big three announced similar a few months back. Production is trending higher as per the quarterly results stating record production lol not falling so there's another two false statements. Minimal capital investment to continue operations for the next 10-15 years is a breathe of fresh air compared to some of the other stories on AIM and reducing operational costs you forgot to mention. I've only seen Audley reduce their position and most here know of the reasons why so who are the other institutional investors 'bailing'? Oh you've mentioned the old '40 million' quote again, didn't you say 40 million shareholders last time around haha SLP look nice and secure with current margins and as you've just said, you're looking to buy back at some point so I take it your nonsense post is just another tantrum. Put your dummy back in on the way out!

Agree that is the reason and at a time of weak inflation, offers no quarter to those long on gold. Not the time to buy IMO

Eish - It's that and many other things :) Different rules apply for doing business in such a jurisdiction and while locality risk is high, management have a good track record dealing with the authorities and it's staff. I hope you're sat on the sidelines currently. dougal66 - I tend to agree, sentiment drove this up and it will pull it back down regardless of the positive outlook for developing it's output. There's a good chance gold will reverse and trend higher in 2017 once some indicators point to slower than expected growth and further delays to rate hikes but not betting the house on it. In the meantime better to sit it out and watch events unfold. It's what keeps me interested but not invested right now.

Expect a tumble to fresh 10 month lows here IMO

Gold slips 2% in early trade as rate hike confirmed. But the real news is the Fed's announcement there will be three likely rate increases next year, in addition to today's boost. Just look at Pt and Au trading today as a comparison. If you can sit it out here, then good luck but the obvious thing to do is exit now with a view to buying lower. The USD is expected to benefit next year as President-elect Donald Trump plans to cut taxes and ramp up spending on infrastructure. Treasury yields are up around 2.576% touching levels last seen in late September 2014, so this gives some idea of current sentiment. Why do people believe OMI will rise in the coming months against this backdrop, which wasn't exactly a surprise. Today was just confirmation which most analysts had expected, barring ofcourse the declaration there are expected to be three additional rate hikes in 2017.

Indianna Jones you sound terribly angry, it was a 25% rise from the level which you jumped ship and a nice little trade that was too, but that's by the by... The 'trolling' as you put it is a product of your own creation considering you chose to deramp one stock and ramp another on the basis of trust and rewarding shareholders. But if you cared to remove your emotions from the picture you wouldn't have caused yourself the anguish. No point paying a dividend if the stock prices tumbles more than 40% on awful trading results, that's for sure! MB_AIM - I wouldn't worry, the short-term traders know results will be out in January and interest will come as we draw closer. Capital expenditure is set to rise in the coming quarters with MF2 production to begin in May 2017 so I wouldn't expect an interim dividend at this critical juncture even if the cash balance is flush. Further out with cash-costs projected to fall below $400/oz and less than $0.9m per quarter required up until 2019 falling to $0.65 in the following two years in order to extend the life of the project to 2027 - 2032. This will be one stock worth following in the years ahead when PGM prices do bounce. Final Dividend 2017 highly possible

I_J talking of holes, how deep is this investment burning now? Did try to warn you but you name-called and wouldn't listen. At least you're going to dig yourself out of this one by buying all the way down and reaping another 1p dividend..

Interesting theory about Odey but they would have to declare and so far just silence. Also consider KEFI's fall to be a mixture of domestic unrest and the lack of progress with regards Financing. Its a 50/50 punt whether your money will return money or not there. Here we seem to ride sentiment led by a falling gold price but that can change quickly. Further out we have much to look forward to when we stop pumping so much into CAPEX and begin to reap the rewards. Easy buy and hold

Wrong, I sold, then gave my reasons why I don't want to be holding a stock with previous of having no urgency to inform investors of the financial picture at a time when further capital is required. It's really that simple. You just don't like the fact it's now 25% lower.

cookiecrew - Would agree there's always the off chance a t/o offer could come, it's positive for the sector on a number of levels that majors are splashing their cash now to take out their rivals (call it what you will) and monopolise an important sector

No surprises, you didn't understand what I was saying. Demand for WRES shares, nobody mentioned demand for bags lol, how hard is it to understand this sentence - "If demand was there the share price would be steady, but it has fallen 25% from peak." The tailings project like I said before was "a project forecast to last well into 2017 but was instead abandoned without any prior reasons" That's 100% accurate. WRES did not release any financial data until 10-11 months after commissioning began and at this time abandoned the project. There was NO PRIOR REASONS mentioned in the time it was in production. No prior guidance issued to the market. Get it? Tungsten price during those 10-11 months did not collapse, it fell steadily by around 20% as I have highlighted before, margins were not that tight and why was no guidance given during the period, financial or otherwise? Why are you so eager to cover up for the WRES management? Sold at 0.61, check your facts first and yes I'm not afraid to highlight the negatives staring me in the face even if you are.

Given margin squeeze here and likely cash burn in the following quarter at current Au spot price this should fall a lot further in the coming weeks unless USD suddenly weakens...

South Africa’s Sibanye Gold to Buy Stillwater Mining for $2.2 Billion in Latest Platinum Push Gold mining company expands further into platinum group, diversifying away from South Africa Sibanye "is poised to become the world’s third-largest producer of palladium" They are paying a 23% premium to the Stillwater market price, a premium which illustrates the growing importance of a high grade Palladium deposit and processing facilities. Stillwater also holds the title as the world’s largest auto catalyst recycler, an operation that should give Sibanye strategic insight into the market. Norilsk has been buying back Palladium on the market this year through a fund and now we see the largest M&A activity in the sector for years! This is the beginning of the crunch in my view, profitable PGM operations are likely to become highly sort after as the supply - demand deficit widens in the coming years. "The moves illustrate the tectonic shifts recalibrating the global mining industry after the commodities bust." The author of the article suggest this is a "vote of confidence" in the platinum group of metals and how right he is. Majors gobbling up majors in multi-billion dollar deals is exciting! Palladium prices are sitting just off year highs, investment currently will not meet much needed expansion of PGM output by 2025. "Still, the cash earned from new U.S. operations “allows us to do so much more in the rest of the world,” Mr. Froneman said, adding that the company would continue to be on the lookout for attractive platinum or gold acquisitions." Bear in mind Sibanye acquired Aim-listed Aquarius Platinum AQP for $294 million two years ago. To my knowledge there are only three listed PGM plays on AIM should it consider expanding it's portfolio with LMI, JLP and SLP. SLP are a tiddler but they do boast one of the highest industry margins and a lower risk business model than primary miners due to nature of surface projects. No equity issues since 2009, cash rich with a sustainable and profitable outlook. Stripping out cash of let's say £9.5m ($12m) after our HY tax bill and continued group costs. SLP with a market cap of £22.3m looks like an incredibly cheap, earnings enhancing acquisition. Predicted EBITDA of £7.55m ($9.5m) at the HY Forecast of £14m ($17.5m) EBITDA for the full year currently. Production life being extended for the next 10-15 years at current 60koz output Expansion over next 4 years to costs $12m and internally funded through new cash-flow PGM basket cash costs of less than $425/oz Project ECHO ounces will come in below $300/oz! Incredible MF2 production to begin in May 2017 By 2020 approximately 30% of our produced ounces will come from the additional MF2 expansion. Higher recoveries are expected from MF2 according to company guidance http://www.wsj.com/articles/south-africas-sibanye-gold-to-buy-st

So you're repeating my rhetoric now? It is that simple, been saying that all along. If demand was there the share price would be steady, but it has fallen 25% from peak. The reason being people are well aware financials were not released in good time during the tailings operations so are quite rightly sitting it out and waiting to see the first indication of cash generation / cash burn.

I hate to be the one to break it to you Jones, but nobody cares what you think.. Put me on filter and then take me off filter... and you say I'm the one with emotional problems LOL well at least you're funny, although you don't realise. Shame you had to break the radio silence, you were doing so well. Just couldn't leave me alone. But seeing as how you addressed a post to me - "Piece of advice Sherminator" I thought well it's only polite to send one back. Great to see you're now covering up your investment decisions, might hold substantial losses or might have taken the substantial losses and be out. Either way you look like a plonker

Would you care to quote where I said "WRES has been in production two years", clearly you have enough time to look back. I do hope you understand what context means when I ask you to read the entire post in it's context... Is it that you don't like what I have to say about WRES and the way management handled production last time around? I don't see you detailed anything worthy about why the share price has peaked at a time when WRES are just entering production.

Zimbabwe articles worth a read in relation to economic stability and outlook. http://www.newzimbabwe.com/business-33637-How+bad+bond+notes+drive+out+US+dollar/business.aspx http://www.npr.org/sections/parallels/2016/10/11/497487307/the-u-s-dollar-is-zimbabwes-main-currency-and-its-disapperaing-fast http://money.cnn.com/2016/09/15/news/zimbabwe-own-us-dollar/ http://www.techzim.co.zw/2016/12/zimbabwes-formal-remittances-2016-decline-17-us780-million-blame-weak-rand-informal-routes/

Thank you for posting the reply, Interesting they would highlight management hold 2% of Caledonia's shares, this doesn't inspire confidence in me but perhaps that figure will grow during 2017, albeit as and when the South African exchange control restrictions allow. A shortage of US dollar currency in Zimbabwe is worrying regardless of the proposed bond note solution now being implemented. The sooner things are back to normal the better, risk profile is a major consideration for investors looking to park their cash over the medium term. The company announced something similar on the 1st December to calm investors I imagine following the recent introduction of Bond Notes by the Reserve Bank of Zimbabwe. This information I found reassuring, the fact that Fidelity receive all gold sold and pay within 2 days in US dollars. Of course for the people on the ground it's difficult to imagine what life is like. Has it become more unstable in the past few weeks? Time will tell. Current gold price weakness is testing investor confidence and I think no matter how many shares Directors buy (they are limited anyway), it will be gold price swings that drive the share price. That said for £43m market cap and going by 2021 projections this will return a handsome return in my view.