| Date | Subject |
|---|
25/3/2021
12:03 | robers98: THS presentation worth a look over.
htTps://www.tharisa.com/pdf/investors/presentation/2021/20210301-this-is-tharisa-march-2021-bmo-global-metals-and-mining-conference.pdf
htTPs://www.tharisa.com/pdf/investors/presentation/2021/20210310-this-is-tharisa-march-2021-ir-presentation-imc.pdf
|
10/3/2021
08:00 | robers98: ESG news anyone come on auditor.
Major pension funds that own assets worth £870bn, including those of the Church of England, Lloyds Banking Group and the National Grid, have committed to cutting the carbon emissions of their portfolios to net zero by 2050 or earlier, in another sign of big investors’ increasing focus on the climate crisis.
Pension providers Scottish Widows, Royal London and Nest and a clutch of public sector pension funds from the UK to Scandinavia and New York were also among the investors that have pledged to align their portfolios to the Paris climate goals of limiting global temperature increases to 1.5C.
The pledges were coordinated by the London-based Institutional Investors Group on Climate Change as it launched a set of tools that lays out how investors can achieve net zero portfolios following months of work.
The United Nations and the UK government backed the scheme, which is also being adopted by leading investor climate action groups in North America, Asia and Australasia. In a written foreword, Prince Charles said he hoped large investors would publish detailed plans for net zero.
Increased focus on the climate crisis from clients and governments has forced investors to confront the carbon emissions of the companies that they fund. Some investment leaders have already promised to aim for net zero emissions, including a December pledge by some of the world’s largest asset managers such as Legal and General Investment Management and UBS Asset Management.
|
27/2/2021
11:14 | moneyman50: Eblitz1-discussing cars is sort of relevant because the higher the JLP shareprice goes the more expensive car some investors here can afford if they chose to sell some of their shareholding.
If metal prices continue at their present level or increase further it will not be long before Jubilee will have to seriously consider paying a dividend-for investors holding a few million shares a 1p dividend per share would be a very tidy sum (1p dividend would cost the company circa £20 million perfectly feasible if the company makes circa £80-£100 million after tax.)
|
17/2/2021
10:16 | yangou: To:you Details
Having trouble viewing this email? View in browser
Capital and Conflict
16 Feb 2021
.
Canary in the commodity mine
BOAZ SHOSHAN
ABERDEEN, SCOTLAND – Any ideas what this is?
It’s a pretty straightforward chart, that’s for sure:
I know plenty amongst the Capital & Conflict readership like their metals, so I suspect that chart may be familiar to some of you.
That’s a chart of the platinum price. After years of misery following Volkswagen’s dieselgate scandal, gold’s denser sibling is finally having a good time. If we zoom out, it looks like platinum’s crash last March marked a fundamental change in trend:
Exchange-traded fund (ETF) holdings of platinum (which reflect demand from large investors) are now at an all-time high – though that should be taken with a grain of salt as ETFs are a relatively recent innovation. When I say “all-time high”, that’s using data that only goes back to 2007 – had platinum ETFs been available to investors when the metal had a spectacular rally in the 1970s, the record may have been different.
Looking more recently, it seems some investors got crazily bullish on platinum a year too early – while the bull run finally began in March last year, there was a massive surge in platinum holdings at the beginning of 2019:
“Better three hours too soon than a minute too late,” as the saying goes. But I wonder what it was that spurred that demand in January 2019. Perhaps platinum just looked unsustainably cheap back then – after all, the price was damn low.
Whatever the case, platinum finally appears to have bottomed. As somebody who bought it back in 2016, this is good news (albeit a lot later than I’d have liked).
But I think this change of fortune for a commodity that has trended down for a decade sends a more important signal. I think this is yet another indicator that commodities are at the beginning of a strong rally – and this is inflationary. Not only do commodities rise in price when investors believe their currency is being devalued, higher commodity prices in themselves lead to higher inflation, as the products they are used in become more expensive.
Platinum probably isn’t the best example of this, as higher platinum prices will only be passed on to a small niche of industries (diesel car manufacturers and jewellers, amongst others). But the backdrop to this five-year high in platinum prices is a surge in the oil price, which has a much broader effect – effectively making energy in general more expensive.
I will try to post the charts mentioned.
|
06/2/2021
09:43 | gsg: Northam Is Said to Consider Bidding for Bokoni Platinum Mine
5 February 2021, 13:06 GMT
Northam keen to add more assets as platinum metals rally
Anglo Platinum says process to sell Bokoni mine advanced
Northam Platinum Ltd. is considering making an offer for the mothballed Bokoni mine as it seeks to expand output and capitalize on a rally in platinum-group metal prices, according to three people familiar with the plan.
South Africa’s fourth-biggest platinum producer has evaluated a bid for Bokoni but no final decision has been taken and the company is yet to conduct due diligence, said the people, who asked not to be identified as the proposal hasn’t been made public. Bokoni is jointly owned by Anglo American Platinum Ltd. and Atlatsa Resources Corp.
Northam is seeking to boost output amid a bullish outlook for the metals, which are used to extract pollutants from vehicle exhaust fumes, said the people. Siyanda Resources Ltd. was also looking at buying Bokoni. Business Day earlier reported the interest of the two companies.
Rhodium and palladium prices have surged with demand for the metals rebounding to the levels it was at before the coronavirus outbreak as China’s economy gains momentum.
Platinum metals surge renews investors' interest in closed mines.
The interest in Bokoni may suggest that higher metals prices are rekindling investors’ interest in reviving some of the mines in South Africa that were shut as producers struggled to contain costs. Six platinum group metals are found in the seams mined in South Africa including rhodium, the world’s priciest precious metal, as well as some gold and base metals such as nickel.
The unit of Anglo American Plc placed Bokoni on care and maintenance in 2017 as it sought to wind down and sell older and less profitable operations to focus on more mechanized mines. The process to sell the Bokoni mine is “advanced,” said Jana Marais, a spokeswoman for Anglo Platinum. The sale process is “well progressed,” Chief Executive Officer Natascha Viljoen said in an interview on Wednesday.
Https://www.bloomberg.com/news/articles/2021-02-05/northam-is-said-to-consider-bidding-for-bokoni-platinum-mine
|
28/1/2021
16:47 | robers98: Jubilee Metals hails growing institutional presence on share register
Jubilee Metal Group PLC (LON:JLP) has hailed the growing numbers of institutions on its share register with Jupiter Asset Management the latest to declare a notifiable stake in the tailings specialist.
Jupiter holds 3.65% of the shares in issue, taking the total shares held by significant institutional investors to 45%.
Jubilee added that a holder has also agreed to exercise 4mln warrants at 3.4p share or value of £136,000.
Leon Coetzer, Jubilee’s chief executive, said: " The continued support we are experiencing from institutional investors is extremely encouraging and again highlights the successful implementation of our strategy to date and more importantly the opportunity for investors going forward.
"We have experienced a very positive start to 2021 operationally including the construction of a new 80 000 tonne per month chrome operation adjacent to Inyoni's PGM operation which is on track to commence with commissioning during Q1 2021.
"This expansion of our South African operations together with the targeted significant ramp-up of our copper operation in Zambia is expected to continue to grow Jubilee's record H2 2020 earnings."
www.proactiveinvestors.co.uk/companies/news/939765/jubilee-metals-hails-growing-institutional-presence-on-share-register-939765.html
|
28/1/2021
13:58 | robers98: Jubilee announces that further to the announcement on 15 January 2021, it has registered the new institutional investors onto its share register, including Jupiter Asset Management Limited which now holds 3.65% of the Company's shares in issue. The total shares held by significant institutional investors in Jubilee has reached 45% of the total issued capital, reflecting strong institutional support.
|
18/1/2021
17:31 | billyboy2fromiii: Hi,
A few bits from the Webcast, My line was not great but here is my understanding of what I heard....
BLUE CHIP INVESTORS
Important to establish a new platform level for valuation.
Obviously very excited about the NEW institutional investor. Very much sounded as though the "name" was too good to turn away. Leon said name will be disclosed in TR1. Colin referred to them being "small cap specialist".
Colin also referred to the other EXISTING institutional investor that has added to existing share holding as being a "recent" investor.
SOUTH AFRICA
PGM
Inyoni (our own plant) continues to increase the % of the total amount of PGM produced due to its efficiencies. Averaging 3,000 oz per month at Inyoni for Oct (I think that was stated) and Nov and Dec.
28k Oz PGM for 6 mths to 31/12/20 despite Windsor PGM being shut down (planned by JV partner) for MOST of December.
CHROME
Looking at 600k oz per annum, well ahead of target 450k oz.
The 6mths figures are distorted due to the higher than normal levels of stock held due to COVID border issues. This will be reflected in next 6 months figures.
TJATE
Discussions have been held. Interest in "acquiring, partnering, getting access" to Tjate. News will follow if discussions gain more traction.
ZAMBIA
COPPER
Another copper deal (4th) to be announced soon ???
Elephant construction starts late 2021, a 9 to 10 mth construction phase.
Lots of refining capacity in Zambia to take up our excess.
ZINC
40-45% construction complete. Recommence this quarter. Fully complete Q3. Will use historical tailings and fresh ore (approached by several Companies).
VANADIUM
Delayed due to price by can respond quickly to market conditions.
2021
Priority to consolidate existing projects. Unlikely to start new projects this year. However, Australia mentioned more than once as regards next possible location. Nickel mentioned.
COLIN
Plenty of life left in him yet, despite being 77. Will listen to the Board and JLP shareholders when the time is right to step aside.
So, all told a very positive update with lots to look forward to in 2021 and beyond. A small top up in my sons Junior ISA today.
BB2.
|
19/12/2020
05:54 | billyboy2fromiii: Also, this is some info regarding Slater Investments....
Institutional investors will have strict parameters in which they invest.
This article from Shares Magazine on 3rd Oct 19 explains a little about Slater Investments....
If you chart Mark Slater’s run as a fund manager back to the start of 2000, you will see a significant outperformance versus his peer group over the subsequent years. According to financial data group FE, collectively across his funds Slater has delivered more than twice the amount of returns to investors than his peer group (400% versus 145% respectively).
The son of the late Jim Slater, a famous financier and author of best-selling investment book The Zulu Principle, Mark now runs three funds focused on growth and income. His asset management business Slater Investments also manages a hedge fund and portfolios for pension schemes, charities and high net worth individuals.
THE SEARCH FOR GROWTH
The flagship fund is Slater Growth (B7T0G90) which invests in UK stocks and which has been running since 2005. It adopts the same principles discussed in Slater senior’s book, namely having a tight focus on something rather than trying to do everything.
‘Our tight focus is having a methodology to find growth companies using value filters,’ explains Slater junior.
The PEG valuation metric is used as a starting point to find shares which have a proven track record of earnings growth and which are inexpensive. The metric compares the price-to-earnings ratio with a company’s earnings growth.
‘We use PEG as a screening tool, not as a share selection tool,’ says Slater.
Once the PEG screen has helped to reduce the investable universe, other measures are then overlaid such as cash flow screens. The fund manager also looks for companies with a competitive advantage such as a high market share, as well as positive signs in recent trading updates and directors preferably buying rather than selling stock.
TAKEOVERS GALORE
The growth fund typically has a concentrated portfolio of between 25 and 50 stocks, primarily in UK equities. This year alone has seen six portfolio holdings receive takeover offers including media content specialist Entertainment One (ETO) and insurance services group Charles Taylor (CTR).
A second fund called Slater Recovery (B90KTC7) has approximately 80% of the same holdings as Slater Growth. The name is a bit misleading as the manager isn’t targeting broken businesses which could be fixed, as per the normal definition of a recovery fund. Instead, the name relates to the period in which it launched.
‘It started in 2003 where we hoped for a recovery in share prices in the wake of a bear market. It isn’t about looking for deep value,’ he explains.
Slater Recovery fund differs from Slater Growth in that it also holds very small growth companies, such as £200m fire and safety expert Marlowe (MRL:AIM). Slater Growth tends to hold stocks in the upper end of the small cap space and mid-caps. ‘Since the financial crisis most growth opportunities have been found outside of the FTSE 100. We’re looking for double digit earnings growth, but the large caps may only have single digits.’
The third fund is Slater Income (B905XJ7) which only uses the PEG valuation metric to help construct a small part of its portfolio. The majority of its holdings are dictated by cash flow appeal and yield. Like the other funds, blue chips are rare in this product. ‘Ninety percent of the opportunity set for equity high income is outside of the FTSE 100,’ says Slater.
CONSISTENT PROCESS
The fund manager attributes his long-term outperformance to having a consistent investment process. He says other managers are easily distracted when their style is out of favour and they foolishly change their process to try and catch up.
It is widely appreciated that UK stocks are trading on low valuations relative to history and other parts of the world, and that overseas investors aren’t interested in the country’s stock market opportunities because of Brexit fears.
Slater believes the companies identified by his investment strategy aren’t really talking about Brexit and, like many consumers, ‘they are just getting on with the job’.
He is confident that the UK market will attract more interest once there is a resolution to some of the Brexit issues. ‘Capital will then start to flow back into the market. Valuations are attractive and if you take a three to five year view the outlook is pretty good.’
The fund’s investment committee met at the end of September and had a longer potential ‘buy’ list than stocks it wanted to sell, illustrating confidence despite a difficult market backdrop where the political noise is loud and the economic data (around the world) often disturbing.
Slater believes his approach is very effective and calls it a ‘sleep at night’ strategy, implying that anyone owning his funds shouldn’t have to worry about their money every day.
‘We’re investing in real businesses, we get to know them very well, and we hold for a long time.’
Regards, BB2.
|
16/11/2020
13:03 | robers98: Seema Shah, chief strategist at Principal Global Investors, says Moderna’s vaccine trial results will boost hopes of an economic recovery from the pandemic next year, despite the alarming increase in Covid-19 cases in recent weeks.
“The global population couldn’t have asked for more from the Moderna vaccine. With an almost 95% efficacy and more acceptable logistical and storage dynamics, today’s news should solidify the market rally that has been in play since last week. Visibility towards a return to normality is increasing, and this should provide more fuel to the reflation rally, with small caps, value and cyclicals clear beneficiaries.
“Of course, there is still a tough winter to get through, and mobility numbers suggest that lockdowns in Europe are clearly taking their toll on economic activity. In the US, rising cases and even deaths suggests that mobility may soon also start to wane. Yet, today’s vaccine news should make investors more tolerant of the surging virus cases, permitting them to look through to the strong dynamics that seem to be taking shape for 2021. Easy monetary policy, fiscal stimulus, recovering economic growth – there are many reasons for investors to be optimistic as we move closer to the end of this awful year.”
|
PLUS1
