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
  -0.75 -2.04% 36.00 497,080 16:35:17
Bid Price Offer Price High Price Low Price Open Price
36.00 36.50 36.75 36.25 36.75
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 55.56 19.22 103
Last Trade Time Trade Type Trade Size Trade Price Currency
17:15:37 O 241 36.00 GBX

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Date Time Title Posts
07/12/201918:48Sylvania Platinum 1,565
25/10/201908:24Sylvania Platinum (formerly Sylvania Resources - SLV)1,607
03/10/201920:47SLP Website doesn't respond11
07/9/201206:38GUARANTEED WINNER908
28/1/201213:14Silentpoint - Roaring buy4

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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 36.75p.
Sylvania Platinum Limited has a 4 week average price of 36.25p and a 12 week average price of 30.75p.
The 1 year high share price is 45.50p while the 1 year low share price is currently 15.75p.
There are currently 285,515,137 shares in issue and the average daily traded volume is 459,527 shares. The market capitalisation of Sylvania Platinum Limited is £102,785,449.32.
redtrend: CLAIM 3: “Questionable” Transactions – Sylvania 2005 Agreement Full afadavit submitted by AMCU (written by Samancor ex-director making claims) is here: hxxps:// Bits relating to Samancor-Sylvania Agreement of 2005 (yes 14ys ago) start on PDF bottom of page 15. The claims are: 1) Samancor-Sylvania deal was unfair against Samancor (complete rubbish – anyone with half a brain can work out this isn’t true and the Affadavit statements contradict the applicants’ own argument! Its laughable and no wonder he was sacked in 2009/2010 if this was the quality of his work) 2) Sylvania deal benefitted Samancor Majority Shareholder (Kancor and chums) over the minority shareholders, with SLP shares awarded to Samancor entity/ intermediary “Portpatrick” as part of the deal. Both are complete “nothing burgers” in terms of operational or commercial impact to SLP or SLP involvement. I wont 2nd guess PR impact in short-term of panicky PIs. SLP Claim 1) Samancor-Sylvania Agreement: the deal itself is clearly a fair one. If anything it is far more heavily in favour of Samancor. a) Samancor get processed chrome back for free and their tailings treated helping them out on long-term liabilities front. The chrome processed for free by SLP and the $100s of millions to Samancor over the last 14yrs will be truly staggering. All Capex paid by SLP. - The Applicant writing the Affadavit doesn’t even realise his own statements are contradicting his “claim” the SLP arrangement becomes more favourable to SLP!!! It really is laughable – it become more beneficial to Samancor! I urge everyone to carefully read items 56 & 57 on pdf page 16 if they have any doubts on this. - Initial 2006 commercial agreement allows SLP to resell the processed chrome concentrate back to Samancor on sliding scale at the low values of ZAR 49.99 - 72 ($3-4 per ton, when Chrome concentrate is $180+! In period sometimes reaching $400). The higher threshold of course being better for SLP. - One year later in 2007, this Agreement gets WORSE for SLP not better, whereby the upper threshold is completely removed and SLP can only resell at the lower ZAR 49.99. - In 2008 the agreement again gets WORSE for SLP, whereby SLP provide the treated chrome concentrate back to Samancor for a nominal ZAR 1 (i.e. for free). b) On top this Samancor appear to get v.small % of PGM revenue (and as reminder Samancor have never had mineral rights to PGMs!) c) Samancor received large share of SLP back in 2005 - 2006 (hugely beneficial to Samancor - see next post for the issue at hand here is if the Samancor's director's committed fraud against their own company and Portpatrick was not for the benefit of Samancor shareholders as a whole) d) The deal was struck in 2005 when SLP was around 30p share price. SLP have used their expertise, spent huge amounts of Capex and SLP shareholders have waited until 2018 (13 years!) to begin to see a tiny return on SDO (if you compare apples to apples). That doesn’t sound like a deal unreasonably in SLP’s favour to me – in fact it sounds like the opposite! Waiting 13yrs for a measly return if you’re a SLP shareholder of 13yrs (1st dividend last year). Compounded for inflation, it’s significant negative return! How much money has Samancor made over 14years of getting Chrome processed for free and selling concentrate?! It will be millions of tons of chrome concentrate. SLP took the risk/reward of relying solely on PGMs, bidding for Samancor job to process chrome and securing the PGM minerals rights themselves. Only now and finally with PGMs high, will SLP benefit from a deal 15 yrs later when dividends should finally become more substantial in 2020. Samancor has benefitted from last 14yrs and will continue to benefit, for doing jack.
frazboy: With you on that Bazzer - but the company must be aware of the share price action so they simply need to issue a statement denying (or otherwise?) the allegations.
redtrend: Agree with danger - the best method to cover already existing share options allowances (my understanding is these were approved by shareholders in various previous AGMs) is through buy backs, not dilution. Employees and Directors should be rewarded for exceptional performance linked to Company's prospects and share price (i.e. shares rather than monetary bonuses), to align with shareholders. As long as it's not for simply "meeting" expectations, but exceeding expectations. I also agree that SLP are partly over-capitalised in the circumstances and more cash should be used for dividends, but in addition to these buybacks, not instead. Both can be easily funded. There is of course need for a "war chest" and rainy day fund etc. etc., but to go too far and be overly conservative to detriment of shareholders and share price is another thing. After this last buyback, SLP is now at a stage where dividends, not buybacks are most beneficial to shareholders - both for share price appreciation and yield. It is commensurate/proportionate dividends that will provide significant re-rate to SLP, so what you are discussing is a rather "chicken and egg" scenario. Additionally when the share price is low, the dividend yield of course can be higher, thereby benefitting shareholders and enticing new ones. The board has acted in a professional manner to date, steered the company in the right direction and have earned investors trust. A special dividend should be expected for Grasvally sale. If it is not forthcoming however, questions will need to be asked. As it would with next year's annual dividend too if it is once again not proportionate. I'm surprised at how passive both IIs and Private Investors can be to these issues. I've been to many AGMs where IIs hold significant holdings and sometimes they don't even have representation. 5 IIs hold 50% of SLP shares and I'm not sure how active or passive they are to be honest. Have to admit I haven't been to SLP's AGM in Bermuda yet, but plan to next year. Depending on whether or not we receive a special dividend once (if) the Grasvally sale is formalised for the full Net amount, an open letter to the 5 IIs holding 50% wouldn't hurt, to see how passive or active they really are. It wouldn't be too hard to get contact details.
canigou2: "arguably overcapitalised at the moment and probably don't have a better use for the cash" A better use for the cash would be to increase the dividend. The increased yield would make the share more attractive to investors and fund mangers and the share price would likely ascend!
redtrend: To add to danger's list of other new updates from Accounts (normally released end of Aug, so could be this time next week): - Dividend: we also don't know final dividend, although have a rough indication from House Broker Liberum. So dividend yield may also be in the Directors Statements in the Accounts. Perhaps a yield at this current share price of 3-4%? - Presentation: normally accompanies release of Accounts with some key forecasts and overview. It normally has a forecast on production out to 3yrs, Project Echo status, Capex & EBITDA forecasts etc. Rhodium is now in touching distance of $4,000 (currently at $3,955), With Plat $840 and Pall $1,480, the SLP PGM basket is around $1,390 per Oz. AISC with ZAR at 15.2 is likely around $525 (fluctuates dependant on ounces produced of course). So once you take into account refining fees of circa 18%, the SLP margin is now a significant $615 per Oz. Net Cashflow for FYE June 2020 could therefore be: - 80,000 Oz x $615 margin = $49.2m. - Deduct $8m for Capex and $10m Taxes = $31.2m. With a market cap of £110m ($130m), normalising for $21.8m cash in bank and circa $24m+ trade balance in SLP's favour, SLP's market cap is only 2.7x Net Cashflow. So can see where Investor Chronicle and House Broker Liberum are coming from with their targets of 50p and 60p respectively.
gary1966: People may be trading off the indicators. RSI elevated to a level where historically it has retreated. Share price has performed strongly of late. RSI may cool off without the share price dropping, and it may well rise, but some people will trade the RSI and will feel happier re-entering, possibly at a higher share price, but with a historically low RSI reading.
thorpematt: Despite global trade concerns, commodity prices have been very favourable since the last TS. Yet the share price here has been lacklustre. Pd and Rd have both done significantly well. Unless SLP has failed dramatically to hit its production levels a positive update should ensue. Although the financial calendar is a litttle non-commited for SLP, I anticipated a notice of results shortly,with a TS at the end of July and results end of August. I have taken advantage of the weak price of late and topped up on my position over the last few days.
lukmanpatel: Another troll by the username lsehotdealz haha, share price is stagnant and there’s talks of fundraise at 10p on that board lol desperation has lead to going round posting on different board to prevent share price from dropping, usually ud stay quiet and average down and accumulate if you see huge potential lmaoo
thirty fifty twenty: hi mad foetus I initially felt the same about that purchase but then did some thinking..... although it was a PDMR there are maybe many (personal) reasons why they want to / need to sell. it was not a director so it would be unusual to think of al the top team it was a second tier of management that had the knowledge that the share price was very over valued / there were company problems. so I concluded that they 'needed to sell' the price was weak in the days before so maybe they were drip selling into an illiquid and nervous market. they had a chat with the directors and they said 'look if you need to sell a large chunk we will buy them back' - that way you get some sort of decent price and we get to avoid a share price fall on low volume. I think the fact that the company bought back the shares means for their insider trading rules that there is no new news. the company has stated its volume targets and CASH flow and we know that the price of their PGM basket has increased materially in the last 6 months (mostly thanks to Palladium) all IMHO DYOR + BoL SLP is in my top5 hldgs
redtrend: I'm somewhat pleasantly surprised the SLP share price has held up given Platinum's weakness in December, but of course circa 38% of our PGM Basket Price is Palladium & Rhodium. And Palladium is still $1,000 and Rhodium still $1,550. Also perversely and in the long-run, Platinum weakness could actually be of benefit to low-cost operators like SLP. This Platinum weakness will mean the likes of Lonmin coming under severe pressure - more than they're already under and could be straw that breaks the camel's back. This could mean steeper production declines and quicker correction to the supply-demand dynamic (with a deficit already being predicted next year). The other positive could mean "non-core" Lonmin assets at fire sale prices, although not sure if any would fit in to SLP's portfolio (both operationally and geographically)?
Sylvania Platinum share price data is direct from the London Stock Exchange
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