Sylvania Platinum Share Discussion Threads

[chrisatom] 09/10/2019 09:10

We are back to the volume 'ledge' at 35p, there's a low volume node below down to 31p, which would be a great entry IMO. It may settle here though.

[handyandy028] 08/10/2019 22:08

Portpatricks role needs clarity It really does

[eentweedrie] 08/10/2019 15:15

The company really needs to make a response imho.

[eentweedrie] 08/10/2019 13:50

I'm afraid after reading that and reading about the current labor climate in SA I consider this seriously risky for the price.Thanks for highlighting Andy and sorry for initially being a little obtuse.

[handyandy028] 08/10/2019 13:28

SA again off shore companies galore Think I will stick to Silicon Valley instead of second guessing litigation and whistle blowers

[dangersimpson2] 08/10/2019 10:25

The 74% ownership is due to the BEE laws relating to the mining charter. My understanding is that this applies only to mining companies though, so with SLP only processing mine "waste", not primary mining, most of their cash-generating subsidiaries do not come under the BEE legislation. Hence why there are no adjustments for minority interest on the income statement and it only features as equity on the balance sheet.

Not sure who their BEE partner is for the assets that are (or will be if they are sold to someone to develop) primary mining - but it is unlikely to be Koncar or others from Sunamcor, for obvious reasons!

[kaos3] 08/10/2019 08:45

several SLP grand dauther Cos (Mauritius part) are indeed 74 % owned. now I know why and who holds the balance.

[kaos3] 08/10/2019 08:37

from the main scandal actors youth in YU - 12 years in prison for the similar stuff

hxxps://www.tportal.hr/biznis/clanak/kralj-kroma-na-putu-da-postane-i-kralj-brodogradnje-tko-je-danko-koncar-foto-20180329

gt

He enters a more serious business by hiring at Jugoturbina Commerce, run by his cousin. He was immediately appointed director. The company had the authority to import and export various products for the needs of Yugoslav companies. Konchar's career flourished until on November 5, 1976, a police officer knocked on his door and took him into custody.
'I came out of prison like a broken man'

After months of trial at which he identified a large number of witnesses, not only from Yugoslavia but also representatives of British, Dutch, German and Italian companies with which Jugoturbina worked, Koncar was sentenced to 12 years in prison. He was found guilty of taking commissions, although prohibited, from goods sold by Yugoslav companies abroad via Yugoslavia.

[zangdook] 08/10/2019 08:17

dividend almost tripled.

[bookwormrobert] 08/10/2019 07:52

Thanks for posting the Samanacor court case info.
It's good to know (it's always good to know as much as possible about companies that you're invested in), but I don't think it adds up to very much. Even the court case is just a request to force open Samancor's books - no more than that. It's a huge leap to go from where things are today to thinking Sylvania have any liability for possible historic corruption at Samancor.
Anyway, that's my opinion.

[frazboy] 07/10/2019 21:55

Difficult to know. As far as I can tell none of the current directors were in situ at the time of the alleged offences (2008 ish?). Regardless, this may not absolve the company of some liability.

I previously voiced concern over the lack of a substantial dividend given the current production levels and prices. I’m now concerned about who the off-taker is given the 4 month payment terms - Doesn’t get much of a mention in the AR!

[eentweedrie] 07/10/2019 21:39

Exactly what I found. Doesn't sound very positive at all...

[frazboy] 07/10/2019 20:15

Anyone got a link to a simple, clearly articulated article? Best I’ve found thus far is this:



Look for the section titled Sylvania near the bottom

A statement from the company would be appreciated at this point

[eentweedrie] 07/10/2019 16:06

ok after reading through properly it does look a little worrying. It does not actually name any SLP directors though or have I missed something?

[eentweedrie] 07/10/2019 15:06

lol i wouldnt pay any attention. iffy at best imo

[kaos3] 07/10/2019 15:05

just when I was considering to buy my first lot :(

[handyandy028] 07/10/2019 14:35

Then check Spoor attorney. Samancor AMU union High Court Johannesburg. That's where I read it

[handyandy028] 07/10/2019 13:29

Just google it's all there

[leopoldalcox] 07/10/2019 12:33

Do you have an article?

[handyandy028] 07/10/2019 10:27

What is happening with Sylvania in South Africa makes for scary reading. Talks of major dodgy tie up with major chrome producer and unions filing law suits. Certain Sylvania directors mentioned and allegations are very serious if proven to be true. Watch this space!

[basem1] 04/10/2019 08:08

Nice entry point Sat on 2 support levels

[ssmall1] 03/10/2019 21:47

Apparently there is something wrong with my internet provider. Using a different provider I am able to connect to the SLP website. Interstate 70 across Kansas & Colorado gets closed by blizzards regularly - you are fortunate that you were only delayed 6 hours.