Sylvania Platinum Share Discussion Threads

[rbento] 29/7/2016 10:48

With $400 margin how come the cash flow generated is so low?

[nick rubens] 29/7/2016 10:33

cheers OT and wolsten. That makes sense of it. I'll take another look then.

[mick113] 29/7/2016 10:16

Tax is the reason the profits went towards. Still holding and will buy more.

[wolstencroft] 29/7/2016 09:57

Nick - if you look in the previous annual reports from the website as On Target says the income tax is a 28% tax on corporate profits. They've paid this before. To me it looks like they are earning cira $10m profits per annum.

[dogberry202000] 29/7/2016 09:43

I suspect the institions got wind of this quarters results and sold off a portion of their holdings in expectation of a drop. I would be surprised that some of the larger buys today are these same institutions buying back some of their shares and at at the expectation of retail investors sucking up losses. None of this can be proved, of course, but the fundamentals of a rising platinum price and the longterm chart showing a break out of platinum against gold augers well for platinum companies such as this one. I've added today at a goodish price because the company's share price is likely to be a lot higher by the end of the year. Short term investors will get nowhere here.

[on target] 29/7/2016 09:41

Yes corporation tax is referred to as income tax in SA.
Obviously a company doesn't pay the income tax on their employees' wages - the employees do!

hxxp://taxsummaries.pwc.com/uk/taxsummaries/wwts.nsf/ID/South-Africa-Corporate-Taxes-on-corporate-income

[nick rubens] 29/7/2016 09:26

wolsten

"Well paying tax is a sign of making profits."

Can you clarify at all, as I could only find 'income tax' paid, that normally means wages and not company profits, unless the countries they operate in define income tax/corporate tax differently from the uk? Cheers NR

[donald trumpton] 29/7/2016 09:22

Shocking ramping here:

mick113 29 Jul'16 - 08:32 - 435 of 450 0 0

50% rise today on good results!

[wolstencroft] 29/7/2016 09:20

They've paid 28% income tax in previous years and I think they also paid 0.8m in December?

[michaeld] 29/7/2016 09:13

Some of these mining companies forward sell a proportion of their output in order to guarantee a certain level of income in future. I hope that SLP haven't sold too much that way?

[michaeld] 29/7/2016 09:06

The results were pretty good, I thought and bode well for the new financial year. It is only in the past few weeks that the price of platinum has really taken off and so we should see a healthy cash balance at the first quarter results? Selling overdone imho and probably a last chance to top up at low prices. Time will tell.

[wolstencroft] 29/7/2016 08:55

Well paying tax is a sign of making profits. Perhaps some don't know what the T is EBITDA is?

[canigou2] 29/7/2016 08:55

Not quite as expected.Basket price static? Seems strange considering rise in pop. This qtr will surely be different.$1m to repay a loan.. good news.$2.7m in income taxes??Result, cash down $0.5mPositives, record production & continued disciplined cash control (& further share buybacks). But none of this appears to have helped the bottom line which is disappointing.

[yasx] 29/7/2016 08:52

Wolstencroft,

The reaction is overly harsh, but I think the expectation on the part of the retail holders was for cash levels to increase. Something about the recent price behaviour did not pint to that picture, as I pointed out several days ago.

[yasx] 29/7/2016 08:52

Wolstencroft,

The reaction is overly harsh, but I think the expectation on the part of the retail holders was for cash levels to increase substantially. Something about the recent price behaviour did not pint to that picture, as I pointed out several days ago.

[wolstencroft] 29/7/2016 08:49

I can't buy in any volume. I guess they dropped the price to entice panic sellers.

[yasx] 29/7/2016 08:49

Be that as it may, i have just taken a few back that I recently sold.

[yasx] 29/7/2016 08:48

The price action was the clue here - platinum was rising, this was not and the funds were bailing.

[effiert] 29/7/2016 08:46

Sold the last lot of my trading portfolio here. Money gone into TLOU.

gl chaps but not the best read when cash is under pressure. Likely to be no news for several months now.

[sylvia plat] 29/7/2016 08:46

Beware the rampers!


mick113 29 Jul'16 - 08:32 - 435 of 437 0 0

50% rise today on good results!

[nick rubens] 29/7/2016 08:45

Lots of statistics but did they make a pretax profit?

[woodaldo] 29/7/2016 08:42

Surprised the basket price stayed the same, considering the POP increase. However surely will be much higher next qtr. More tonnes mined and updates on grasvally. A mixed bag.

[mick113] 29/7/2016 08:32

50% rise today on good results!

[rbento] 29/7/2016 08:24

I just spoke to nomad and u r right.