Sylvania Platinum Share Discussion Threads

[pugugly] 03/10/2019 20:46

Only place I can remember in Kansas is the town of Oberlin where we were snowed in for some 6 hours when driving from Boston to ski in Aspen - Will never forget seeing the Rockies grow out of the prairie from the size of a white molehill to the mountain range as we moved west

Any luck with the Sylvania web site? - Was invested there very many years ago but moved on as they never seemed to be going anywhere but down at that time.

[ssmall1] 03/10/2019 20:36

Pugugly - I am located in the Kansas City area.

[pugugly] 03/10/2019 20:06

ssmal1 - Just noticed your post - If not already sorted.
No peoblems from Europe (not UK) Suggest your link might have got corrupted - This is currently working -


Which part of the States - If I may ask?

[eentweedrie] 03/10/2019 20:00

fair enough. but you will lose out on making good profit on stocks like this.

[bookwormrobert] 02/10/2019 12:59

The full quote is "follow the trend - until it ends".
Which, when you think about it, is pretty useless investment advice.
I think I'll stick with fundamentals, rather than trading on momentum.

[eentweedrie] 02/10/2019 10:29

follow the trend....

[bookwormrobert] 01/10/2019 12:52

Crazy post. If this went back into the 20s I'd sell my entire portfolio and stick the money in here.
Palladium and rhodium prices very high and steady. Platinum has dipped but it is still high on a medium term basis. Company performing very well and seriously undervalued on an EPS basis.
Looking forward to Q3 results, which should be very strong.

[eentweedrie] 01/10/2019 10:50

next stop 33p imo. reset down to the 20's if downtrend continues dyor

[ssmall1] 30/9/2019 23:17

I have no issues with other websites.

[eentweedrie] 30/9/2019 22:41

pay your broadband bill?

[ssmall1] 30/9/2019 21:31

I am a shareholder of Sylvania Platinum shares & I live in the United States. For some time now I have been unable to access the sylvania platinum website. Any ideas or suggestions?

[zangdook] 26/9/2019 21:12

alan
yes, that's my understanding. I agree it's better to do it this way than to issue new shares, but I have grave reservations about the use of share awards of various sorts. If people are paid part of their salary in shares, that's different, but directors handing out the odd percent or more of the company which employs them as a gift to themselves or their colleagues and chums is a phenomenon I find troubling.

[redtrend] 24/9/2019 17:16

Agree with danger - the best method to cover already existing share options allowances (my understanding is these were approved by shareholders in various previous AGMs) is through buy backs, not dilution. Employees and Directors should be rewarded for exceptional performance linked to Company's prospects and share price (i.e. shares rather than monetary bonuses), to align with shareholders. As long as it's not for simply "meeting" expectations, but exceeding expectations.

I also agree that SLP are partly over-capitalised in the circumstances and more cash should be used for dividends, but in addition to these buybacks, not instead. Both can be easily funded.

There is of course need for a "war chest" and rainy day fund etc. etc., but to go too far and be overly conservative to detriment of shareholders and share price is another thing.

After this last buyback, SLP is now at a stage where dividends, not buybacks are most beneficial to shareholders - both for share price appreciation and yield. It is commensurate/proportionate dividends that will provide significant re-rate to SLP, so what you are discussing is a rather "chicken and egg" scenario. Additionally when the share price is low, the dividend yield of course can be higher, thereby benefitting shareholders and enticing new ones.

The board has acted in a professional manner to date, steered the company in the right direction and have earned investors trust. A special dividend should be expected for Grasvally sale. If it is not forthcoming however, questions will need to be asked. As it would with next year's annual dividend too if it is once again not proportionate.

I'm surprised at how passive both IIs and Private Investors can be to these issues. I've been to many AGMs where IIs hold significant holdings and sometimes they don't even have representation. 5 IIs hold 50% of SLP shares and I'm not sure how active or passive they are to be honest. Have to admit I haven't been to SLP's AGM in Bermuda yet, but plan to next year.

Depending on whether or not we receive a special dividend once (if) the Grasvally sale is formalised for the full Net amount, an open letter to the 5 IIs holding 50% wouldn't hurt, to see how passive or active they really are. It wouldn't be too hard to get contact details.

[meanreverter] 24/9/2019 14:43

dangersimpson2 — I agree: keep buying back as long as the shares are on a low PE. Meanwhile pay a small proportion of earnings per share as dividend. When the the re-rate comes and the PE jumps, let the dividend rip. Even if a low PE seems never-ending, that way you still get a rapid growth rate in dividends, which will eventually wake the market up for a re-rate.

[dangersimpson2] 24/9/2019 13:46

I know that buybacks can be controversial but with a prospective P/E somewhere in the region of 4 I'd rather have buybacks than an increased dividend at the current price and I certainly wouldn't want them issuing shares on a P/E of 4 to satisfy management options in order to keep the cash for an increased dividend.

[canigou2] 24/9/2019 12:55

"arguably overcapitalised at the moment and probably don't have a better use for the cash"

A better use for the cash would be to increase the dividend. The increased yield would make the share more attractive to investors and fund mangers and the share price would likely ascend!

[dangersimpson2] 24/9/2019 12:46

That is exactly what they are saying. Normally companies just issue the additional shares for bonuses and dilute holders, in this case the buyback is a way of funding these bonuses in cash rather than shares. So if you consider the company to be undervalued at the current price then this is a small marginal gain. If you consider the shares to be overvalued this is another reason to steer clear. The share options are already awarded (subject to performance conditions) so you can argue the pros and cons of the share awards but it is a separate issue to whether they should effectively fund them via cash or new shares.

I personally prefer the cash via the buyback to being diluted because I consider the current price significantly undervalues the company in the current PGM pricing environment but others may have a different view. Also, they are arguably overcapitalised at the moment and probably don't have a better use for the cash unless Suncor open new mines and SLP decide to add ROM PGM processing to the new mines.

[alan@bj] 24/9/2019 12:11

zangddok - I think your interpretation about the share buybacks is the same as mine, but I'd be grateful if you could confirm - or disagree. My understanding is that the shares, being bought with the company's surplus cash (which is an asset of the shareholders generally, surely?) will be held in treasury for the time being, but then distributed to the directors and any other employee benefitting from a share bonus award or share options. Seems like a neat way of robbing Peter to pay Paul?

[petewy] 24/9/2019 07:45

Looking good
Revenue up 20% to £12,711,000 (2018 H1: £10,554,000); up 22% atconstant exchange ra Operating profit up 40% to £1,746,000 (2018 H1: £1,250,000)
Adjusted operating profit* up 20% to £2,138,000 (2018 H1: £1,784,000)

Divi up as well/

[dangersimpson2] 23/9/2019 23:42

Think it's right to challenge the options package but not the buyback. They could just issue new shares if they wanted to so the buyback avoids this potential dilution when the company is particularly cash-rich at the moment.

Given the volume today it does appear there was maybe a small overhang - and more than the non-PDMR employees. I can see why employees might want to get their hands on the cash given the rise, but with SLP's 4E basket now up 37% in ZAR in this quarter then I'm in no rush to follow them.

[zangdook] 23/9/2019 21:20

I don't mind a buyback for cancellation, but a buyback to hand out the shares to the directors gets up my nose.

[eentweedrie] 20/9/2019 09:01

quite large buys coming in

[basem1] 20/9/2019 08:27

Certainly gets well bought this stock

[frazboy] 19/9/2019 12:40

I still don't understand the minimal dividend payment - it's making me reluctant to add.

[basem1] 19/9/2019 12:06

It always tends to overshoot on the way down