Sylvania Platinum Share Discussion Threads

[nimrod22] 07/5/2020 16:24

Highest demand for Platinum Eagles in 21 years

[nimrod22] 07/5/2020 16:23

China's car sales surge 40% in April.
hxxps://news.metal.com/newscontent/101107138/caam-china%E2%80%99s-car-sales-surged-40-in-april

[maxplus2] 07/5/2020 16:15

Have SLP started production?

[nimrod22] 07/5/2020 15:46

Palladium up over 3% today

[1jbrisky] 03/5/2020 12:20

Doh
SLP page at LSE

[1jbrisky] 03/5/2020 12:18

Neil
Re funds
Without reposting the whole discussion have a look at the LSE page over at LSE.
Main point obviously being that a persistent seller is keeping the price down. Also depends, (again, obviously) which site has the most up to date share register.

[1jbrisky] 03/5/2020 12:18

Neil
Re funds
Without reposting the whole discussion have a look at the LSE page over at LSE.
Main point obviously being that a persistent seller is keeping the price down. Also depends, (again, obviously) which site has the most up to date share register.

[earwacks] 03/5/2020 12:14

Various sites have different info on largest shareholdings. From what I can deduce on Stockopedia they are a bit out of date with Majedie holding 4.8%. This appears to be incorrect as they have no holdings now in SLP. Part of the problem is it appears sometime recently rules changed about notifiable holdings from 3% to 5%. Stockopedia shows overall large holders as 56% whereas SLP has fewer individual holders 8 instead of 9, but the overall major ownership is up 4% at 59.8%. Some times investment companies get a new manager in so they like shuffling shares about to justify their new position, or in the case of brokers to make themselves money while loosing their customers!

[neilunderwood] 03/5/2020 11:10

With regards to funds off-loading, can you give some examples, the best I can find is Premier Miton buying 5% of the company on the 24th Feb when the price would have been around 57p.

[felchandbart] 02/5/2020 17:19

Now that the SA mining sector is starting to get back to work this should have a positive effect on the share price. We've lost between 25-30p on the back of the lockdown. This should now start to be redressed imo.

[petewy] 01/5/2020 23:10

By Jammer?

[1jbrisky] 01/5/2020 22:35

Decent info regarding funds off loading over on LSE SLP BB. May go some way towards explaining the current indifference regarding the share price

[risa5] 01/5/2020 22:05

Despite having piles of cash SLP only started paying nominal dividend for the past 2 years.
Let's hope the new management will do a better job than the previous one and start paying proper dividends.

[1jbrisky] 01/5/2020 19:53

Mr Stephens, I'm with you, incredible 3rd Q results & 3 down days since.
To my mind SLP has always been, to a greater or lesser degree, undervalued but the market has taken that to a new level this week.
All kinds of mitigating circumstances given for the underperformance but they have to be in the price at these levels.
I'm fairly sure a ST piece will give us a nudge early next week and then I'm hoping for a definitive dividend policy announcement with the year end results.
Assuming no further covid related dramas we can afford 10p or close to 25% of today's share price on a regular basis, should get the herd's attention and put us where we ought to be.
Share buybacks clearly aren't doing the job, SLP needs a regular dividend.

[mr stephens] 01/5/2020 11:31

Help me to understand how is “the chart looking good” but the share price is tumbling? I need help just don’t get it
Market cap is almost 50% covered by cash
P/E ratio just with current profits To date is just over 2
I’m truly lost

[mr stephens] 01/5/2020 09:33

Shares in circulation now 272m down from 288m

[epicsurf] 01/5/2020 08:00

1 May 2020

 

Sylvania Platinum Limited advises that as at 30 April 2020, it has acquired 137,971 Ordinary Shares, representing approximately 0.05% of the Company's issued share capital, at Aus$0.9195 per Ordinary Share. This relates to the buyback of up to 1,650,339 ordinary shares of USD0.01 ("Ordinary Shares") from all certificated non-UK shareholders who hold 175,000 shares or fewer in the Company ("the Plan"), as advised in the Company's interim financial results on 17 February 2020.  The shares will be placed into Treasury. To date, a total of 436,603 Ordinary Shares have been bought back under the Plan.  

[fsawatcher] 01/5/2020 07:24

chart lookin good after a pause

that 67p high needs testing again

[dangersimpson2] 30/4/2020 16:24

Company hasn't given guidance for FY21. I've based it on similar plant feed to FY20 but 5-10% lower head grade due to a greater proportion of historical arisings to fresh arisings. Plant feed to PGM plant feed ratio has decreased over time for this reason so I don't see this shifting, but is just a guess without company guidance which won't come until FY20 YE at the earliest.

If they can significantly increase the plant feed rate or improve recovery then this may prove conservative, but previous guidance had recovery reducing over time to improve payability of the concentrate. Q3 increase I think was an anomaly related to temporarily shutting the plant down for lockdown.

[plat hunter] 30/4/2020 14:52

Covid shut down equalls lost production

[dilip40] 30/4/2020 14:40

why is 2021 guidance on 60k compared to 68k for y/e 6/2020

[basem1] 30/4/2020 13:35

It was the chart playing out yesterday SLP is pretty good to trade from a chart perspective. We had got a bit overbought and came back to 3 support levels It's a buy again now though

[risa5] 30/4/2020 13:11

Mr Stephens,

I did have some doubt about the contents of the article and the negative attitude of the author but thought it may explain why there was a 5% drop in the price yesterday and that article may be the cause of it.

[dangersimpson2] 30/4/2020 10:51

Happy to be proved wrong, but would be good to know where you see the undue pessimism for Q4.

The company is guiding 68koz 4E for FY, which with 60koz delivered Q1-3 is 8koz Q4. There would be another 2.7koz byproducts, based on historical 25% ratio.

Today's spot is off about 15% in ZAR vs Q3 average so gross basket would be about 28.8k, giving 4E revenue of ZAR158m and byproducts ZAR10.3m. Sales adjustments may come in around -ZAR40m based on a typical impact of a 15% move in the underlying on Q3 20koz production - but this is very much guesswork here. So Net Revenue ZAR128m.

Using the Q3 Operating costs/plant feed of 0.29 ZARk/T this would be ZAR70m of operating costs - note this is probably very optimistic - it assumes no economies of scale from running higher plant feed rates. G&A is running ZAR8.6m per quarter, which then gives ZAR50m EBITDA or $2.8m at 18ZAR/$.

FCF is probably about $1m on that EBITDA.

The other big unknown is how much of the working capital flows reverse, but given that the cannot get concentrate refined at the moment and are stockpiling it then a big reversal may be a brave call. Likewise earnings of $4-6m, it requires a production beyond current guidance or PGM pricing significantly above current levels.

One thing I agree on is that they should be returning capital via dividends despite the weak Q4.

No company should be valued on a single quarter, so the company shouldn't sell-off on a weak Q4 just as a strong Q3 shouldn't cause a meteoric rise. The market should look forward to FY21 and beyond. If PGM pricing remains at the current levels and they can maintain production at around 60koz or above this is still looking reasonable value, just not as good as it was in the recent past.

[mr stephens] 30/4/2020 10:04

Thank you Risa really interesting read but out of date This was prepared after the 1st half results and foes not reflect the latest q3 update.The author quotes the cash balance at $33m it is now well over $40m Now to Dangers post. Very downside. Realistically they will make about $4-6m profit in q4 which will bring them over the $50m for the year.There is also $9m trade debtors plus there is always a percentage if delayed invoicing so that is cash to add on the balance sheet which means cash will be between $50m and $60m. There is an issue with zar dollar exchange rate as cash held mainly in Zar so needs to be discounted by around 10%.Liberium have said there will be a special dividend. Assume it’s around 10p. That’s the minimum upside to the share price