Platinum and Palladium both up 10% YTD so Q3 should be stronger than H1. |
According to Edison the forward P/E is around 7. Cash adjusted P/E even lower of course. |
Decent update today. We really need to see a marked uptick on the rhodium price and some results from the JV. |
They've been doing a Share Buyback for up to $1.6 million since December...
Don't you read RNSs...?
PS JLP is no longer a platinum share... |
Re the dividend - they intend to weighted 33/67% between interim & final, so in theory should be about 1.5p final, giving projected 2.25p total. This compares to a total divided of 3p for FY 24 (split as 1p interim, 1p final and 1p special). One could argue it is 2.25p current year vs 2p last year. FWIW I don't think they will repeat the special dividend this year, but it's possible. |
Cutting the divi is harsh though |
Great work.I'm not a fan of Ebitda but see businesses being bought for multiples of 6 to 8 times.Even if we said 4 times here then that implies a share price much higher than current. Looked at a few valuation sites: simply wall street fair value 2 pounds |
Current mkt cap = $152.4m, less $77.5m cash gives EV of $74.9m.
Ebitda's 2019 - $30.2m 2020 - $69.6m 2021 - $144.9m 2022 - $82.8m 2023 - $66.0m 2024 - $13.5m
So valuation is 1.1 x average ebitda of last 6 years, with nothing in for Thaba. |
Maybe they can use that for mine improvements....earnings enhancing |
Why cut the dividend, just to save $820k, when you have $77.5m in the bank? |
yes, last year was 1p |
Yep...1p down to 0.75p...
Cash balances recovering...
23p/share...
When the capital programme is complete this will look like a cash machine...especially if platinum prices break out... |
Is that a small cut in the first dividend? |
The results show the company is profitable, safe and efficient. And chrome production will add to the cash and profit stream. I hold around 60k shares; I normally dont disclose my positions but for two years I've waited for metals to pick up: patience is a virtue! This year is showing signs metals are finally moving. I bought more Sylvania last week and I'll buy more on any share price weakness. |
A good set of ressults |
 Revenue and profits up with a positive outlook..
Outlook
· FY2025 production guidance range increased to 75,000 - 78,000 4E PGM ounces (previously 73,000 - 76,000 4E PGM ounces) on the back of solid HY1 FY2025 production;
· With the new host-mine run of mine ("ROM") plant commissioned at Lesedi during the Period, higher grade current arisings are expected to achieve steady state operation towards the end of Q3 FY2025, which will boost PGM ounce production and profitability at the Lesedi operation;
· Construction of the centralised PGM filtration plant at Lesedi is progressing well and is on schedule to be completed during Q2 FY2026;
· Thaba JV project is on schedule to commence first production by May 2025 with all phases of construction of the chrome and PGM beneficiation plants progressing well;
· The operational readiness phase of the Thaba JV will continue during Q3 FY2025; and
· The Group remains debt free and continues to fund capital expansion projects and process optimisation projects from cash reserves and aims to support growth initiatives in order to unlock value for shareholders. |
Mkt cap 120 millionNet profit estimated at 11million for the yearCash at bank 55 million.Great results |
Dollar flat on a 2 month low...
But S&P; Nasdaq; DJIA all at or close to ATHs...
(What happens when big investors and funds cash their massive gains...where do they reinvest...?)
So gold, silver, platinum, copper beaten down up to 6% (plat) from Thursdays high...
Just as: silver, copper and platinum were breaking out...
Manipulation?
Or a temporary hiatus while metals Bulls refuel to drive prices higher...
Have a look at what happened in 2010/11...
Metals boom...miners boom...Juniors boom...M&A frenzy...
Tick tock... |
Interims tomorrow, should be a dividend declaration with them. |
Absolute no brainer - same as ATYM, ALTYN, PAF. dyor but guys after being in these stocks for upwards 15-20 years they coming home to roost. Many of my gold stocks folded so im no master investor but these are coming good. |
SLP lagging especially Platinum and Palladium on a 1 year timescale. Platinum:
Palladium:
Rhodium:
Will could do with a Chrome chart as well as we are getting closer to Chrome production. |
Thanks for that, interesting article. |
hxxps://moneyweek.com/investments/silver-and-other-precious-metals/will-platinum-and-palladium-rise |
Commodoties are booming - forget about just being undervalued - SLP is a top buy and I piled in more last week. |