Sylvania Platinum Share Discussion Threads

[wsm812] 09/8/2023 08:33

I think this is great news, along with the market so far. However I wanted to fully understand the term "unincorparated". Below is the definition from HMRC:

An ‘unincorporated association’ is an organisation set up through an agreement between a group of people who come together for a reason other than to make a profit (for example, a voluntary group or a sports club).

You don’t need to register an unincorporated association, and it doesn’t cost anything to set one up.

Does anyone have a view on the meaning please?

[888icb] 09/8/2023 08:23

The market likes today’s RNS currently Up 6.9% at 71p on volume of 114000.

[bagpuss67] 09/8/2023 07:34

Sounds good!

[rabiddog] 08/8/2023 21:06

Management are first class, unfortunately they don’t control the price of PGM’s

[gaiusgracchus] 08/8/2023 20:57

What do you think mgmt are doing wrong? Honest question - I don't follow this one closely enough.

[kennyp52] 08/8/2023 09:47

I’ll do it myself ..

932 Q3
881 Q4
-5%
$/oz
All-in sustaining cost (4E)

[soilderboy] 08/8/2023 07:47

It looks like there are no figures out there as yet.

[kennyp52] 07/8/2023 22:28

What is the AISC of platinum?
Platinum Production Cost | Bunker Blog
The official platinum AISC was 760 US$ in 2021. However, the implied AISC from the financial statements of the major producers is 1076 US$/Oz. Additionally, the marginal AISC of the 10% more expensive mines stands at 1210 US$/Oz.

So what is it in 2023 ??

Can someone remind me what the AISC is of SLP

[masurenguy] 04/8/2023 19:04

Sylvania Platinum — Lower rhodium prices overshadow strong production

We have maintained the value of the exploration assets at book value at 13.8p per share, resulting in a total valuation for Sylvania of 118.2p per share.

[rcturner2] 04/8/2023 17:29

No it's not.

[justiceforthemany] 04/8/2023 16:26

Cash adjusted forward P/E is only 5 though

[dougmachin] 04/8/2023 12:14

It's with a sad heart I sold out today with divis received covering my capital losses!

Am moving money into CAML or Cu related stocks.

I just feel there's a lot going on with the Rh and PGM markets and I don't have the time to fully research/understand them.

Great, well-run company, but I think Cu will have the tailwinds.

GLA holders.

[slopsjon2] 04/8/2023 08:25

"Our FY23e EPS has been adjusted downwards to 18.3c, with FY24e and FY25e EPS reduced by 40% to 9.0c and 11.2c, respectively."

[stemis] 03/8/2023 19:44

Their forecast for 2024 is EPS of 7.1p (9c), dividend of 3p and cash of $135m (about 40p/share). It's paid for research so pretty much what management want the market to think.

[rcturner2] 03/8/2023 18:58

If the dividend in 2024 is 3p, then eps will be what 4.5p? And they think it will be rated at 118p.

Someone is on drugs.

[haywards26] 03/8/2023 18:13

Often broker forecasts should be used as counter indicators. When brokers are raising their forecasts it is time to sell and when they are reducing forecasts it is a contrarian signal to buy..

The Edison reduced target price is still significantly above the current share price levels, giving a good margin of safety..

[makinbuks] 03/8/2023 17:09

Their model clearly works in that you can understand why actual financial results differ from forecast by plugging in actual commodity prices. However, their ability to forecast those commodity prices is no better than anyone here. To support their valuation they expect Rhodium to recover in FY24 on average by c. 50% from where it is now and a further 25% in FY25. That sounds optimistic

[rcturner2] 03/8/2023 17:03

So even the Edison forecast is horrendous.

[stemis] 03/8/2023 14:41

New paid for research by Edison

"We have lowered our rhodium and palladium price forecasts for the next two years, because of predicted demand in China and some de-stocking from OEMs, and have also reduced our long-term assumptions to allow for the current uncertainty."

As a result big cuts in both forecast earnings and, not unaturally, dividends

"We expect ordinary dividends to reduce in FY23 to 5.8p per share, from 8.0p per share in FY22, and to 3p per share in FY24, before rising to 4.0p per share in FY25."

New valuation 118.2p.

[sheffieldowls] 03/8/2023 11:37

Thanks for your reply saltraider there are so many reasons why the shift from ICE to EV's will not happen in the proposed timetable. I believe that our Government knows this fact but they will keep up the pretense that only EV's can be purchased from 2030 and hybrid vehicles five years later.

[saltraider] 03/8/2023 11:19

Hi sheffieldowls ... by my reckoning then, you must have £1.8m or thereabouts invested in SLP. That makes you a much bigger fish than me. But you should be able comfortably to survive a much heavier hit than I could. Risk is definitely relative!

I have about 6% of my total portfolio in SLP, which is a relatively large shareholding for me. If it gets to be over 8%, I might trim a little just to avoid excessive concentration.

I got into SLP at a good time. Pretty much pure luck on that. It was part of a contrarian play aimed at buying shares that I thought could be undervalued due to a general lack of realism about the speed with which the world would/could transition to a low carbon economy (in this instance, to shift from ICE to EVs). Sadly, in terms of climate change, most of the purchases I made as part of that play have turned in very good results for me.

Anyway, I wish you good luck. I think you'll do alright.