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SLP Sylvania Platinum Limited

0.10 (0.15%)
30 Nov 2023 - Closed
Delayed by 15 minutes
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
  0.10 0.15% 68.10 240,230 16:35:20
Bid Price Offer Price High Price Low Price Open Price
66.00 69.00 68.75 67.50 68.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Miscellaneous Metal Ores,nec USD 127.04M USD 45.35M USD 0.1724 3.92 177.57M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:20 UT 39,000 68.10 GBX

Sylvania Platinum (SLP) Latest News

Sylvania Platinum (SLP) Discussions and Chat

Sylvania Platinum Forums and Chat

Date Time Title Posts
29/11/202316:40Sylvania Platinum 8,385
13/10/202311:28Sylvania Platinum9
30/11/202110:44Waiting game-
16/8/202013:26SLP Website doesn't respond14
03/3/202014:39GUARANTEED WINNER911

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Sylvania Platinum (SLP) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-11-30 16:35:2068.1039,00026,559.00UT
2023-11-30 16:28:1768.385,0003,419.00O
2023-11-30 16:23:3368.3814699.83O
2023-11-30 16:23:1266.00650429.00O
2023-11-30 15:41:1768.401,461999.32O

Sylvania Platinum (SLP) Top Chat Posts

Top Posts
Posted at 30/11/2023 08:20 by Sylvania Platinum Daily Update
Sylvania Platinum Limited is listed in the Miscellaneous Metal Ores,nec sector of the London Stock Exchange with ticker SLP. The last closing price for Sylvania Platinum was 68p.
Sylvania Platinum currently has 263,060,263 shares in issue. The market capitalisation of Sylvania Platinum is £177,565,678.
Sylvania Platinum has a price to earnings ratio (PE ratio) of 3.92.
This morning SLP shares opened at 68p
Posted at 10/11/2023 20:25 by belluci
Market cap 172 MCash 126 MFixed assets 102 MThis is not risky , yes the share price is low during a pretty nasty bear market. But when growth returns companies will need metals. Good luck all.
Posted at 25/10/2023 08:44 by ddubzy
This company have a great BOD, however than cannot control the price of PGM. It's a pure commodity play, hence why the management are diversifying. As soon as PGM prices start rising the share price will follow. It's a HOLD and buy dips for me.
Posted at 16/8/2023 07:42 by 888icb
John Rossier who runs a portfolio in IC gave his update for July today. He added to his existing holding in SLP at 70.2p on July 5th. This was his comment on SLP:
“ Sylvania Platinum fell due to the weak rhodium price. It was down 16 per cent during the month and is back to levels last seen in September 2019. Fourth-quarter results to 30 June steadied investors' nerves. Production exceeded guidance, and year-end net cash amounted to more than half of the market capitalisation. It's cheap on around five times earnings per share and, after stripping out cash, four times cash flow. While inexpensive, platinum group metal prices probably need to recover to get the share price moving. The forecast yield is 7.9 per cent for the year just ended, falling to 6.2 per cent in June 2024. On Stockopedia, it passes no less than 13 of its "guru" screens covering all bases – quality, value, growth and income. It has been a long-term holding, and the total return is 73 per cent. Again, I expect my patience will be rewarded.”
Posted at 07/7/2023 09:25 by deme1

It looks like the buyback was the one thing holding the share price up.

Have SLP finished the buyback? No RNS for the last few days. If so then there is no one to absorb the sells, share price drops sharply and unfortunately stops will get hit. I don't think this is manipulation, it's more to do with the cost of metals being trashed especially rhodium which was a BIG earner for SLP
Posted at 07/6/2023 23:15 by doctorbird
Thank you scrwal for the Edison report. It draws attention to two factors weighing on the share price, Rhodium and running costs. Only recently have I realised the importance of the basket price. The success of the 2020 run up trades in SLP were not so much down to me as to the metals prices. It has been more difficult in recent times and the Rhodium price is cratering. As it is likely to be a while before it steadies and even longer before there is improvement, I have been reducing positions. It is likely that Edison has underestimated the potential for the Platinum price but even so I am doubtful about SLP in the short to medium term. I have no complaints on the results of my many trades to date. I should be interested to know the details of the basket calculations. It is all very well SLP maintaining or exceeding production but the metals prices may relatively devalue results. As for valuation of their mining terrain, is SLP serious about going into high-risk mining? It may be better for it to stick to what it is good at. I shall probably be increasingly into Platinum now. Good luck to all.
Posted at 03/5/2023 15:31 by haywards26
IMO Buybacks are very subjective and many variables impact whether they are a good use of company funds or not (financial performance of entity, debt levels, dividend yield, share price level etc). It is easy to see in hindsight whether a buyback was a good idea, but very difficult to gauge at the time.

I can't see anything other than it now being a good time for SLP to carry out a buyback program, given the recent share price fall, robust financial performance and dividend pay out yield etc. The cancellation of the shares and not having to pay the approx 9% divi out on these shares is a good use of funds..

As a comparison a company completing a buyback program at share price highs is likely to be seen as a poor decision and not a good use of company funds. In very simplistic terms
Posted at 03/5/2023 10:49 by zangdook
The misunderstanding about buybacks is that their purpose is to increase the share price. If you once get that idea out of your head and see them for what they are, a way to increase each remaining holder's proportional interest in the company, then the "oh no, the share price has gone down" argument falls away, except if framed as "the share price has gone down so they could have waited and got them cheaper".

It may be, if there is selling pressure, that a buyback will help to reduce the effect on the share price by absorbing some of the overhang.

If you account for your investments as a share of a business, rather than as a number on a share certificate, you may see value in buybacks provided the company doesn't overpay (or reissue the repurchased shares as bonuses to directors).
Posted at 02/5/2023 15:27 by kenmitch

I won’t respond after this as you clearly have limited understanding of buybacks as have a lot of posters on the lower quality ADVFN bulletin boards.

For starters of course I wouldn’t claim that all lower share prices are related to buybacks? Of course they aren’t and that you can ask such a stupid question speaks for itself. Loads of shares fall that haven’t bought back at all.

And Whitbread for one is not a rubbish Company. They just made a mistake with their buyback decision. And on that WsM812 then made the erroneous claim that Companies only buyback if they think the share is undervalued. The sensible Companies like Next Do do that, but there are multiple examples of Companies buying back without considering that so important point.

Facts on share buybacks include:-

1. They reward those who want to sell as there is a willing buyer; the Company buying back their shares.

2. Buybacks increase eps.

3. Director bonus pay is quite often based on eps. So that’s a reason why sometimes Company bosses are so keen on them!

4. Buybacks reduce the number of shares in issue, so dividends, if paid are being paid out on fewer shares and so at less cost.

5. IF…as so many bb posters wrongly assume…..all buybacks = higher share price, all investors would have to do to guarantee share price gain would be to buy shares in those Companies. If only that WAS true.


I had already pointed out that Next knew how to manage buybacks and that they’ve halved their share count as a result of them.
Posted at 02/5/2023 08:16 by kenmitch
Buybacks don’t “put a floor on the price for sure,” as there are multiple examples where they haven’t. E.g Aberdeen ABDN started buying back in 2017 at £5 and have bought back every year since and share price now around £2.

Hopefully the SLP share price is already so depressed that there might already be near the floor.
Posted at 28/4/2023 08:38 by davebowler

| SLP LN | Market Cap £236.7m | 28 April 2023^ BUYTarget Price 125.0p Publication price 89.0p Sylvania Platinum* Guidance raised again *Corporate Broking Client of Liberum
Sylvania has raised production guidance by 2koz to 7274koz (Liberum est. 74koz), following another strong production quarter of 17.9koz. Even with the raise, guidance appears conservative: Q3’s typically weak, as mines are slow to restart post December’s break; final quarter only requires 15.6k-17.6koz of production. Note, production rates across the industry face the risk of more Eskom power disruptions (for revenues, any general fall in mine supply should be offset by corresponding price lift). Strong quarter of production with Tweefontein MF2 The company had a good quarter of production, and so remains firmly on track to hit our forecast of 74koz for the year. The multiyear positive trend in recoveries continues. Following the success of the MF2 installation at Tweefontein, the one at Lannex should be commissioned in the first quarter of FY23. Figure 1: Quarterly production (koz) and recovery rates (%) 30% 35% 40% 45% 50% 55% 60% 65% 0 5,000 10,000 15,000 20,000 25,000 Q1FY08 Q3FY08 Q1FY09 Q3FY09 Q1FY10 Q3FY10 Q1FY11 Q3FY11 Q1FY12 Q3FY12 Q1FY13 Q3FY13 Q1FY14 Q3FY14 Q1FY15 Q3FY15 Q1FY16 Q3FY16 Q1FY17 Q3FY17 Q1FY18 Q3FY18 Q1FY19 Q3FY19 Q1FY20 Q3FY20 Q1FY21 Q3FY21 Q1FY22 Q3FY22 Q1FY23 Q3FY23 Total 4E PGMsPGM Plant Recovery Source: company While this successful run could be hit by power disruptions ahead of the Southern winter, we believe that the price impact will offset volume losses.

Next events Q3 resultsApril 2023 Q4 resultsJuly 2023 Stock performance Summary financials & valuation ($m) Calendar year EV (CY)21A22E23E24E Market Cap295295295295 Net Debt/(Cash)(114)(136)(149)(155) Pension & other adj. EV182160146140 Valuation (CY)21A22E23E24E P/E (x) Div Yield (%) EV/Sales (x) EV/EBITDA (x) EV/EBIT (x) FCFe Yield (%)19.120.415.59.8 Price / book (x) Financial year (June year end) Financials (FY)22A23E24E25E Sales152123100102 EBITDA81.763.846.547.9 EBIT78.760.743.444.9 EBIT Margin (%)51.849.143.344.2 Net Interest1. PBT80.064.347.749.4 FD EPS ($) DPS (p) Net Debt/(Cash)(121)(150)(148)(162) Net Debt/EBITDA (x)(1.5)(2.4)(3.2)(3.4) Leverage (FY)22A23E24E25E Net Debt/Mkt Cap (x)(0.4)(0.5)(0.5)(0.5) Source: Liberum, Bloomberg All numbers are on a post-IFRS 16 basis (e.g. net debt includes operating leases)
Sylvania Platinum 28 April 2023 2 Feed tonnes were impacted in the quarter, as is typical for Q3, particularly higher-grade tonnes from current arisings and ROM material. Figure 2: Plant feed tonnes and grades (g/t) 1.0 1.5 2.0 2.5 3.0 3.5 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 Q1FY08 Q3FY08 Q1FY09 Q3FY09 Q1FY10 Q3FY10 Q1FY11 Q3FY11 Q1FY12 Q3FY12 Q1FY13 Q3FY13 Q1FY14 Q3FY14 Q1FY15 Q3FY15 Q1FY16 Q3FY16 Q1FY17 Q3FY17 Q1FY18 Q3FY18 Q1FY19 Q3FY19 Q1FY20 Q3FY20 Q1FY21 Q3FY21 Q1FY22 Q3FY22 Q1FY23 Q3FY23 Plant FeedFeed Head Grade Source: company EBITDA was down 51% on the quarter to $9.8m, but this was largely driven by the fall in the 21% fall in the gross basket price. We remain bullish on the rhodium and palladium price outlook (Commodity priceDECK - Changing tack, 28-Mar-23). Their spot prices have reported a recovery bounce recently, after Q1 falls. Figure 3: Sylvania basket price versus all in costs and share price (LHS) 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 0 20 40 60 80 100 120 140 160 Jan-18Jul-18Jan-19Jul-19Jan-20Jul-20Jan-21Jul-21Jan-22Jul-22Jan-23 Sylvania share price (p)PGM Basket (RHS, R/oz) Sylvania all-in cash costs (R/oz) Source: company, Bloomberg Exploration work on Northern Limb remains ongoing. We expect to have an updated MRE for the Volspruit project in Q1FY24.
Sylvania Platinum share price data is direct from the London Stock Exchange

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