Sylvania Platinum Share Discussion Threads

[deme1] 28/10/2020 18:51

France going to announce a lockdown at 7pm

[deme1] 28/10/2020 18:42

Another drop tomorrow.
Dow showing weakness
Germany going into a 4 week lockdown
no doubt the rest of Europe will follow

[plat hunter] 28/10/2020 17:33

MM's got burned then

[nimrod22] 28/10/2020 17:15

More buys than sells

Vol. Sold 1,097,607
Sold Value £724.42k
Vol. Bought 1,167,062
Bought Value £770.26k

[ksplatformsales] 28/10/2020 16:40

Wowzers, what a day, what a time to be alive.


Chill out guys, no one cares how big your willy is. Good luck tomorrow chaps and chappetts, those results were stonking aye?


Roll on 105p

[plat hunter] 28/10/2020 15:38

Deme.. There's only you here that's stalking people from board to board.

[deme1] 28/10/2020 15:17

15p

yeah right, your such a clown.
no wonder you swear at everyone, must be so frustrating to loose money at the rate you do

[plat hunter] 28/10/2020 15:13

4.7% spread though

[risa5] 28/10/2020 14:30

Sylvania achieves solid first-quarter production, financial performance

Aim-listed Sylvania’s Sylvania Dump Operations (SDO) produced 17 972 oz of platinum, palladium, rhodium and gold (4E) platinum-group metals (PGMs) for the quarter ended September 30 − the first quarter of Sylvania's 2021 financial year.

This was higher than the 9 055 oz of 4E PGMs produced in the quarter ended June 30 but lower than the 20 797 oz produced in the first quarter of the 2020 financial year.

"After a steady return to full capacity production following the outbreak of Covid-19 and the [South African] government-imposed industry shutdown, I am pleased to report that the SDO produced . . . a solid performance given the challenges we faced during the period.

"While all the plants are now running at full capacity after the ramp-up of operations post lockdown and plant efficiencies have normalised, the reduced mining operations of certain host mines continued to impact on feed grades as expected and consequently [the quarter's] production decreased approximately 14% on the corresponding quarter of the 2020 financial year," CEO Jaco Prinsloo points out.

The SDO recorded $41.5-million in net revenue for the quarter under review, compared with revenue of $13.2-million in the preceding quarter and $31.2-million in the first quarter of the 2020 financial year.

Group cash costs decreased to $652/oz, compared with $983/oz in the preceding quarter and $573/oz in the first quarter of the 2020 financial year.

Prinsloo says the company continues to enjoy the benefits of a strong PGMs price environment, with a 31% quarter-on-quarter increase in the gross basket price having assisted in boosting Sylvania's cash reserves.

"The company remains in a robust financial position with sufficient cash reserves to fund capital projects which will help mitigate any rise in costs and the possible reduction in future cash inflows due to the ongoing uncertainty relating to Covid-19," he adds.

The company recorded a net profit of $21-million, owing to the increased production, while its earnings before interest, taxes, depreciation and amortisation were $29.7-million.

Sylvania says it expects to reach its production guidance of 70 000 oz of PGMs for the full 2021 financial year.

Meanwhile, Sylvania reports that the new Lannex mill and spiral upgrade project to improve processing efficiencies and profitability are ongoing.

The design of the Lesedi secondary milling and flotation module is also advancing, while the Mooinooi chrome proprietary processing modifications and optimisation project is in execution phase and expected to be commissioned during the third quarter of the 2021 financial year.

[deme1] 28/10/2020 14:24

^^^^^^^^^^^
Plat wrong again

[plat hunter] 28/10/2020 14:10

Stupid game, this is....

[corrientes] 28/10/2020 10:33

GDP is also in the PM recovery business and seems a better bet. I looked at it, and thought this one had better credentials. What do I know !

[risa5] 28/10/2020 10:32

Sylvania posts leap in net profit for first quarter as PGM production revives

SYLVANIA Resources said its operations had been largely restored following Covid-19 lockdowns in South Africa.

The company reported first quarter production of 17,972 platinum group metal (PGM) ounces, lower than first quarter ounces last year but an improvement on the 9,055 PGM oz registered in the fourth quarter of its 2020 financial year.

This puts the company on course for its previously guided full year production target of about 70,000 PGM oz.


Pricing for palladium and rhodium have elevated the overall rand-denominated price deck and laid the foundation for solid earnings before interest, tax, depreciation and amortisation (EBITDA) of $29.7m for the first quarter.

The resilience provided by higher pricing is evident considering EBITDA in the first quarter in Sylvania’s 2020 financial year, at a higher production of 20,797 oz was $19.2m.

Net profit for the quarter totalled $21m (Q4: $2.2m) owing to the increased production in the quarter.

Nonetheless, the company said that an increase in Covid-19 cases in South Africa raised the risk of a higher level of lockdown being implemented by Government. President Cyril Ramaphosa was quoted by BusinessLive today as saying there were no plans to increase the lockdown level so far.

“Our management and technical teams continue to explore further opportunities to increase both feed grades and recovery efficiencies across operations that could add value in the near term and also continue to engage with various consultants to evaluate the potential of the longer-term mineral asset projects,” said Jaco Prinsloo, CEO of Sylvania.

“The company continues to enjoy the benefits of the strong PGM price environment and the 31% increase in gross basket price from Q4 has assisted in boosting our financial performance and cash reserves,” he said.

Sylvania reported a cash balance of $60.9m at the close of the first quarter compared to $55.9m reported at the end of the firm’s financial year on June 30.

The cash balance at the end of the first quarter last year was $26.6m partly demonstrating the impact of higher PGM pricing.

[whitefish] 28/10/2020 10:21

A 10p dividend at a cost of circa GBP25m would move the share price.

[plat hunter] 28/10/2020 10:19

Tree shake plus those getting in during the week hoping to carpet bag a special dividend, hightailing I suspect.Back to 72p on the offer by cob

[corrientes] 28/10/2020 09:40

I'm no expert in these things ,but it seems to me like the company's valued like a building society. Low yield/dividend for shareholders with one third of cap in cash, and maybe getting higher.

If today's value can't be realised when PGM prices are high, but dividend income is meagre, then what's the point of holding ?

I'm not interested in being a bit less poor than the next man in a stock market collapse on account of a healthy cash balance. I'd still be poorer.

Don't think this company will ever realise its realistic worth as it stands just now, so what would it take to see a more positive valuation ?

[carcosa] 28/10/2020 09:26

McConnachie retired from the company

[plat hunter] 28/10/2020 09:25

Cash at hand not as much as i was expecting either but I wasn't accounting for the new spirals.

[plat hunter] 28/10/2020 09:24

Zho... Directors are remunerated with share bonuses, check the mem&arts along with accompanying rns notifications.

[stemis] 28/10/2020 09:24

Ebitda ($29.7m) was significantly higher than I expected on output lower than I expected, although $4.1m was a revaluation of concentrate previously delivered.

Cash ($60.9m) was also a bit lower than I was forecasting due to $25.3m increase in working capital due to high sales level. If Q1 sales were only to be replicated in Q2 then there's no reason that should be repeated, which could push cash up to around $85m.

Current valuation is about 1.6 x ebitda. I guess the market is discounting a substantial fall in prices. The longer they hold the more upside for holders.

[farnesbarnes] 28/10/2020 09:16

April tax bill?