Sylvania Platinum Share Discussion Threads

[stemis] 27/7/2021 13:43

I would guess the difference is fx loss or another provision against an exploration asset. Last year the board booked a £9.5m provision against Aurora.

If it was a provision or write down, it wouldn't go against ebitda. Forex is possible. It would have been nice to know though...

[martinfrench] 27/7/2021 13:24

river,

i think they pay it twice a yr and gets booked against this qtr, would be my complete guess

[jon4567] 27/7/2021 13:16

I would guess the difference is fx loss or another provision against an exploration asset. Last year the board booked a £9.5m provision against Aurora.

[riverman77] 27/7/2021 13:14

Does anyone have further detail about this 35m tax charge - is this just a one-off as it is obviously pretty large relative to their earnings?

[stemis] 27/7/2021 12:14

It would be nice if they actually did a proper reconciliation of profit. According to the figures they've provided; sales = $48,446k, direct operating costs = $14,929k and admin costs = $636k. That would give $32,881k. However the ebitda is $28,741k. There is a missing cost of $4,140k.

[lostabillion] 27/7/2021 11:57

30k for me :—)

[rabiddog] 27/7/2021 11:43

Piece in IC will bounce this back today…

[adejuk] 27/7/2021 11:34

way overdone
got 10k at 102.46

[cordwainer] 27/7/2021 11:30

I wondered if civil war had broken out in SA when I saw the share price this morning, but apparently everything is getting back to normal.

[tonytyke2] 27/7/2021 11:11

Just bought more now at 99.44p, reported as a sell. I am now selling another investment to create funds for further adding here.

Good luck to you all!

[stemis] 27/7/2021 10:45

Even on annualised Q4 depressed results, the valuation is only 2.4 x ebitda.

[tonytyke2] 27/7/2021 10:29

Brokers headlines on latest report states, 'Hitting guidance, no disruption'

I think we all must have followed the Rhodium price coming off its recent highs and it should have been no shock to any investor, (due to the skew Rhodium does have on the basket), to see the latest quarter, lower than the previous record quarter. You need to however continue to keep looking at the bigger picture here.

The share price has now dropped around 50% from it's highs and looks IMO well overdone. Great EBITDA, debt free and a huge cash pile is telling me to find some more cash to add here.

Good luck with your investments!

[plat hunter] 27/7/2021 09:42

Imagine if SLP had been spending all that cash on a hair brain 0.40% per tonne copper dream.Can't beat cash in the bank, watching and waiting for my entry again. Like I said the other day "very smart company"

[cappajumping] 27/7/2021 09:32

Mkt Cap right now £272m, Cash at bank no debt $100m before dividend and full year EBITDA is very very strong circa $150m - thats still pretty good especially as CoVID wave fears are overdone as the world now recovers, of course there will be setbacks (look at Australia) if vax rollout is slow. Biggest worry is the RoM grade drop-off which may give a few tough recovery quarters. New vehicle orders are very strong and once the chips resolve production lines will fly re-introducing spikes in demand for all PGMs. SA riots have dissipated with political risk reduced. Strong Buy for me adding to my position, seems logical investment value to me.

[johnhemming] 27/7/2021 09:03

johnhrxx99 - however, I would not expect the house broker to be that far out as I would expect their forecast to have been seen by the company and I would expect the company to complain to them and explain why they may be wrong if their are materially wrong.

[plat hunter] 27/7/2021 08:58

well I did say several days ago basket prices have been falling

[slopsjon2] 27/7/2021 08:36

Figure 1:
FY21 results vs Liberum estimates
Actual Liberum diff (%)
Production (koz)70,044 70,513 -0.7%
Revenue 208 217 -4.2%
EBITDA 149 157 -4.6%

[farnesbarnes] 27/7/2021 08:36

New Liberum note:

[johnrxx99] 27/7/2021 08:28

johnh - good for you. Consensus is the average so if you've seen 207.8m someone has seen 220+ :-)

[bigberty99] 27/7/2021 08:23

It's crazy that eua Mcap is way higher and produces nothing

[johnhemming] 27/7/2021 08:19

I have seen a figure of 207.8m for 2021 turnover.

[johnrxx99] 27/7/2021 08:17

Lovely jubbly

[johnrxx99] 27/7/2021 08:04

Well there you go, lol

[johnrxx99] 27/7/2021 07:59

Perhaps it gives a good opportunity - focusing on quarters could give a downswing until year on year is published. Of course the professionals already know that.

Consensus for 2021 is $213.6 T/O