Share Name Share Symbol Market Type Share ISIN Share Description
Sylvania Platinum Limited LSE:SLP London Ordinary Share BMG864081044 CMN SHS USD0.01 (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  -2.00 -2.51% 77.80 1,881,866 16:35:20
Bid Price Offer Price High Price Low Price Open Price
77.00 78.00 79.50 77.00 79.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 92.11 45.17 220
Last Trade Time Trade Type Trade Size Trade Price Currency
17:06:13 O 100,000 77.00 GBX

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Date Time Title Posts
04/12/202018:49Sylvania Platinum 3,971
16/8/202013:26SLP Website doesn't respond14
03/3/202014:39GUARANTEED WINNER911
03/3/202012:33Sylvania Platinum (formerly Sylvania Resources - SLV)1,608
03/3/202012:32Sylvania Platinum8

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Sylvania Platinum Daily Update: Sylvania Platinum Limited is listed in the Mining sector of the London Stock Exchange with ticker SLP. The last closing price for Sylvania Platinum was 79.80p.
Sylvania Platinum Limited has a 4 week average price of 64.50p and a 12 week average price of 59.50p.
The 1 year high share price is 82p while the 1 year low share price is currently 25p.
There are currently 282,414,289 shares in issue and the average daily traded volume is 1,113,554 shares. The market capitalisation of Sylvania Platinum Limited is £219,718,316.84.
mr stephens: I know it’s not SLP but look at IC tip at Tharisa. I’m in awe as they are trumpeting the basket price of $1700 and SLP was over $2200 and current SLP is $3400. This is before smelting Then look at profits. In q2 SLP will be on or ahead of the whole of last years profit. I estimate $44m to $50m net after tax. Also $80m plus in the bank Read below and smile and be cheerful. We will come good Platinum group metal (PGM) miner Tharisa’s (THS) operating profit more than tripled to $88m (£66m) for the 12 months to 30 September as sales went up and costs went down. Platinum Group of Metals (PGM), including palladium and rhodium, traded at record prices this year because of demand in the automotive industry. Tharisa’s profit growth was driven by its basket price – effectively an average selling price for its PGM products – which jumped 58 per cent on last year to $1,704 per ounce (oz). On top of the palladium price strength, rhodium’s heady price rise took it to just over half of Tharisa’s PGM revenue from 29 per cent last year. Averaging around $8,300/oz in the company’s financial year, the metal is now over $16,000/oz, driven by new vehicle emissions standards in China. The company’s other product, chrome, had been a drag on first-half earnings, but this was more than covered by PGM strength. Chief executive Phoevos Pouroulis said he expected stainless steel demand to push up chrome prices in the coming year. Investors will be hoping this is right – Tharisa has restarted work on the Vulcan plant, which will increase chrome concentrate production by a quarter from 2022. The company has brought back its payout after not handing out an half-year dividend to investors because of Covid-19 uncertainty. This payout level – barring any magical new source of palladium and rhodium appearing – will likely not be short-lived. Buy.
thelongandtheshortandthetall: Good stuff. share price only just starting to reflect SLPs PGM basket price IMO. 🎩🎩👍👍
mr stephens: Bid on platinum has now broken through $1000 if it holds and moves interesting to see the impact if any on SLP price. It is after all sylvania platinum even though the majority x 4 times of the income is from rhodium. I don’t care as long as as we get near to a sensible price
kennyp52: On pure fundamentals this only needs some momentum and increased dividend to start realising a more realistic MCAP Imho . The basket prices have risen nicely , cash in the bank , decent production ... EPS is reported at 14.63c per share or 10.65p ... 14.2% ...and the business has moved on significantly from y.e. 30/6/20 . If you are wondering why some commentators are indicating it is undervalued I then it really is not rocket science ... it’s staring us in the face . The only thing holding it back Imho is recent risk on driving mining stocks down . When we get the predictable poor results from companies and investors realise the gravity of the problems in the world economy due to Covid then yields will be non existent for some sectors of the market ... while precious metals are delivering substantial margin premiums at the moment and if prices hold will lead to substantially increased profits and cash . For companies without debt that should mean increased dividend / yield making the share prices look very cheap . All Imho . Good luck all holders .
brucie5: Plat, just thought I'd sit through a recent video from Ed Croft on Stocko. He does highlight the beneish score which as you would know is tucked away rather invisibly under the heading of 'm-score' within the Earnings Manipulation risk. SLP comes out with 'low risk' though sales growth of 1.6 crosses the box marked 'is sales growth excessive?'. A further look at what this means, comes out with the following: "In Beneish's study, the average Sales Growth Index for companies that were not manipulating earnings was 1.134, as compared with 1.607 for manipulators." I don't regard this as a red flag, btw, and as stated, already hold SLP within a low churn income folio. But I'm foxed by the failure of the share price on the given value and growth metrics. PE 3.8; PEG .3; and Stocko gives a whopping 14% dividend. They must be rolling forward to include a special payout?
risa5: There are some exhibits with this report... Sylvania's Q3 2020 Results - I Love It When The Plan Comes Together Oct. 29, 2020 3:44 PM ET Summary Sylvania booked revenues of $41.5 million and EBITDA of $29.7 million and is currently valued at just 1.3 times annualized EV/EBITDA. The stellar performance can be attributed to strong rhodium prices, which are set to remain high over the next few years. Sylvania plans to distribute a metal price windfall dividend after June 2021, which I think could surpass $80 million. Introduction On October 28, Sylvania Platinum (OTC:OTC:SAPLF) posted its production and financial results for the first quarter of its 2021 fiscal year, which ends on June 30. They were nothing short of stellar with EBITDA of $29.7 million and cash generated from operations before working capital movements at $29.8 million. What’s more, Sylvania confirmed it plans to distribute a windfall dividend after the end of FY21 as high rhodium and palladium prices keep filling its coffers. Production and financial results With operations restarting in May, Sylvania managed to produce 17,972 ounces platinum, palladium, rhodium and gold (4E PGMs) in the quarter ended in September. While this is 14% lower year-on-year, it’s still in line with the company’s FY21 production target of 70,000 ounces. As Sylvania warned in its FY20 financial report, scale-down of operations at the host mines at its Mooinooi and Lannex operations will lead to lower volumes over a period of 12-18 months. As a result, 4E PGM production will be likely down by 10-15% during this period. As a reminder, Sylvania retreats tailings from chrome mines and among its partners is Samancor. This means its fortunes are tied to the chrome sector in South Africa. Earlier this month, the country’s Cabinet announced plans for an export tax on chrome ore, which should force some chrome ore buyers to purchase alloys production instead. The initial reaction to the proposal was a revived sentiment and a halted slump in ore prices, which is good news for the local chrome sector. Still, I think the government is making the mistake of focusing on the symptoms and not the cause. The reason South Africa’s ferrochrome and ferromanganese producers have their backs against the wall is an increase of electricity prices by over 500% since 2010. Back to Sylvania’s results, revenues, EBITDA and cash flow soared as its PGM basket price rose to $2,834 per ounce compared to $1,654 per ounce a year earlier. The main driver of this is rhodium, which could be the metal of the decade. The company’s cash balance rose by just $5 million during the quarter and this is mainly due to an increase in trade and contract debtors as a result of the increased production compared to Q4 FY20 when operations were disrupted due to COVID-19. Payments from the smelters which Sylvania uses come in around four months, which leads to the buildup of a large amount of rolling trade receivables. Rhodium and Sylvania’s zenith Around 90% of mined rhodium in the world comes from the upper group two (UG2) orebodies, which predominantly exist within South Africa's Bushveld Complex. It's a by-product of palladium and platinum mining and is used mainly to control NOx emissions in motor vehicles. With supply remaining stable and demand increasing due to tightening global NOx emission standards, the rhodium market has entered a structural deficit and prices have skyrocketed to record levels. There’s no viable alternative to rhodium in autocatalysts and higher loadings in motor vehicles could push gross demand to around 1.4 million ounces in 2025, which provides strong support for prices. It’s very hard to forecast prices when structural deficits exist, but I think it’s safe to say rhodium is likely to remain volatile and sell for over $5,000 per ounce in the near future. This means that South African companies with strong exposure to the metal will reap record profits in the coming years. As I mentioned in my previous article on Sylvania, the metal accounts for around 13% of the company's production compared to 5-7% for the major South African companies in the PGM sector. The windfall dividend Windfall profits are large, unexpected gains resulting from lucky circumstances. Such profits are generally well above historical norms and may occur due to factors such as a price spike or supply shortage that are either temporary in nature or longer-lasting. - Investopedia What sets apart Sylvania from many PGM producers is its lack of debts. The company currently has a cash balance of $60.9 million plus a significant amount of receivables. There are no significant capex plans for FY21 and Sylvania wants to distribute a large "metal price windfall dividend" after June 2020. If rhodium and palladium prices remain close to these levels, I think the dividend could be higher than $80 million. Sylvania has 286,845,657 issued shares, but a total of 15,368,967 shares are held in treasury. This means that the number of shares is actually 271,476,690, giving the company a market capitalization of £182.4 million ($237.9 million). If my dividend expectation are met, the dividend yield is set to be over 33%. Conclusion The next few years should be stellar for rhodium, which means that Sylvania Platinum and PGM miners with strong exposure to UG2 will likely reach their zenith in terms of revenue and profits. Sylvania also plans to distribute a large part of its windfall profits as a dividend sometime in the summer of 2021. At the moment, Sylvania has an enterprise value of $177 million but I think you can decrease that by at least $20 million in order to account for the large sum of receivables from smelters. With annualized EBITDA standing at $118.6 million, this means that Sylvania is valued at just 1.3 times annualized EV/EBITDA. I think this one is a value investor’s dream. Keep in mind that the main listing on Sylvania is on the LSE and that volumes in the USA are low.
mr stephens: Why Sylvania Platinum is a trader’s dream Why Sylvania Platinum is a trader’s dream By Michael Taylor Sylvania Platinum (SLP) is a company that I have followed throughout my whole trading career. It has been an inspiration to me to see what can be achieved if one follows a company’s results and not a share price. I’m often told that being a trader must be difficult, as it requires discipline to buy and cut one’s losses quickly. That is true, and there is also the necessity to continuously generate new trading ideas. But to hold a company for several years through big share price drawdowns must also require nerves of steel. How often have you held a company’s shares and logged into your account to see a falling share price, and decided that now is a time to either bank profits or get out, only for the share go quickly recover its losses and post further gains? I would be willing to wager that this has happened at least once to all of us. Recency bias places importance on events that are freshest in one’s memory, but of course not all these events are so important in the longer term. In the example of a mining share, a short-term blip in production may see a dramatic price fall, but over the course of a year or several years it fails to register on the share price chart. We can see an example of exactly this in Anglo Asian Mining (AAZ). On 15 July 2020, the company announced its latest production and operations review. It was a decent update, but for some reason the stock fell from 142p to 129p on large volume in early morning trading. Granted this is not a huge move, but the size of the volume and sharpness of the drop may have been enough to spook many investors and shake them out of their positions. Investors may have expected a larger drop and waited to add on a dip, yet just two weeks later the stock had recovered and was punching through its highs. Recency bias likely caught those who were wishing to add out. In the case of Sylvania Platinum, investors may now be getting used to these grinding and gyrating. They’ve certainly had plenty of dips to get used to it. But this volatility has also been great for traders – because the stock can move relatively quickly there have plenty of potential profits up for grabs. SLP:LSE Sylvania Platinum Ltd 1mth Today change 5.17% Price (GBP) 61.00 Looking at Chart 1 we can see that in the middle of the chart, May 2016, there appears to be a turning point. I’ve marked this with an arrow, as we begin to see a crescendo of volume sparking life into the chart. To the left of this arrow, we can see that the price of the stock would not move for several sessions, and it would gently drop down on low volume every now and again, barely ever catching a rally. This is typical of a stage 4 capitulation stage stock. We want to avoid the losers, and be long stage 2 advancing stocks. The only justified exemption for buying a stage 4 downtrend is if you are struggling for liquidity and need to use the falling price to build a position. If one is buying a large number of shares then this indeed may be the reality. But by doing this one is nailing the flag to the mast and it will be impossible to exit without a large loss. This can be a very profitable strategy for the trader but it is high risk. It’s better, at least generally and in my own opinion, to wait for the trend to appear and jump on board when we see the green shoots starting to appear. Unless you are a hedge fund liquidity should not be an issue. Looking at the stock once the volume picked up, both average volume in the stock ramped up as well as volatility, with sharp rallies and equally as sharp pullbacks, with a gradual uptrend over the next few months.Volume here, even if the stock is not moving much, is very interesting as it shows shares changing hands. That means those who want out are being taken out by new shareholders – new shareholders who presumably want to sell for a higher price to see some profit. It would’ve been unlikely to have been shorts closing positions because the stock was so illiquid, but this is something to look out for on SETS traded stocks. Moving onto Chart 2, we can see the savage sell off that would test even the most resolute investor’s nerves. Even just last week, the stock sold off from 64p down to as low as 52p on heavy volume, only to rebound in the same day. However, for traders this is a sign of strength. Clearly the dip has well and truly been bought, boding well for a breakout trade at 67p. Some consolidation of the stock here would be ideal, as the best breakouts come from long bases with sudden spikes in both volume and volatility. Ideally, it’s best not to have too much hot money sitting on a nice paper profit, as any sudden moves can see supply of stock coming into the market. Rather, a nice gentle churn allowing them to exit now and letting other people take up the slack would be a positive thing to see. My colleague here at Investors Chronicle Simon Thompson still believes there is risk to the upside to his 100p target price (‘Manufacturing Gains’, 7 September 2020). Fundamentals are a nice thing to have, but traders should remain focused on the chart. At the end of the day, we are paid solely on the capital gains of our endeavours – not the undervaluation of the stock. I have made that mistake before and have no wish to repeat it. The price must come first.
mr stephens: Note palladium and platinum up today and rhodium sitting steady. PGM basket price for SLP sitting at $2900 which is around $2200 after smelting.As I keep writing the p/e at the current share price is 3.9 cash adjusted 1.8. At some point market economics will adjust. Liberiums target price of $1.05 puts SLP back on to an historic p/e of 6.0. I believe they will raise the target price for next year to around $1.35 if guidance for production is 78 to 80,000 tons
whitefish: Corrientes, I am a bit like Mr Stephens confused by people worrying about the numbers! From what I can see we already know FY Revenues, EBITDA, Net Profit and Cash balances etc? Therefore, we have a very good idea on EPS, PE EBITDA:EV. The information of most importance next week is: 1) Projected production to June 2021 2) Corporate Presentation Forecast EBITDA (and costs) 3) CEO commentary. Whilst the share price remains a bit of a mystery, this is not anything new with this share. I agree with many contributors, payment of a decent dividend (say 5p) and a share buyback of (say 20m plus shares) would significantly lead to a share price rise and be in the interests of shareholders, as the buy-back would boost future EPS. Assuming Production of say 76k ounces to June 2021 and EBITDA of >USD90m, then the Dividend payment and share buyback will be achievable alongside an increase in Yr end Cash. The only reason Management can really justify not doing the above is because they wish to fund either major CapEx or an acquisition. Lets not forget, over a 12 month or 18 month view the share price is trending in a very positive direction. Given Rhodium has been USD6,000 an ounce higher recently than a year ago (under USD4,000) and Palladium is up 40+ % YOY, we should be optimistic. History would also suggest if Gold continues to rise (as expected) this could start to lift Platinum, that many think will be in a new "bull" phase over around 1,050 $ an ounce. Furthermore, China Car production has recovered and South Africa PGM production is down!!
corrientes: Is this Samancor issue really finished or is it a case of guilt by association ? Do we have suspect directors (?) so that most of the big money won't consider this a suitable place to park their cash. Have the directors changed at all ? You'd expect to see a better share price following the commodities upwards movement, so unless this matter has already been clarified by the board, in some form or other, their (deliberate ?) lack of communication skills, suggests leopards don't really change their spots, so supressing the share price ie they couldn't care less. I sincerely hope not, but the results may turn out to be a non-event. At least the share price is bolstered by the high prices being obtained at the moment, so on the other hand, I don't expect a fall. If somebody can argue against my superficial case, then great.
Sylvania Platinum share price data is direct from the London Stock Exchange
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