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26/11/2020
18:56 | mfhmfh: Interesting numbers regarding THS:
They are quoting 16-17c EPS for the whole year which is about 12p.
But they only made 3.6c by the half year which is 2.69p.
So in the 2nd half they made around 9p EPS.
If they make 9p EPS for the first and 2nd half of next year that gives an EPS of 18p. A PE ratio of 12 gives a share price of 216p (18 × 12).
But the 2nd half was impacted by mine closure due to Covid-19 and PGM prices are higher so they should make more than 9p EPS for both halves of the year.
200p should really be a baseline share price and even then it would be discounted.
All IMHO.
Friday last day to buy before results.
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12/10/2020
08:38 | sharpshare: Rhodium price today
USD 13500 per oz
per
http://www.platinum.matthey.com/prices/price-tables
THS produced 13,5000 oz of rhodium in the last financial year.
At today's prices that is worth about USD 182.25 million
As THS produces a concentrate they get about 81%? of this value.
This year the guidance is for about 14% more PGM's so about 14700 oz of rhodium.
Bonanza time!
THS is wisely using some of the extra cash flow to pre strip the open pit and upgrade recoveries to reduce costs, increase revenue and boost profits in the future.
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10/7/2020
07:38 | mfhmfh: Vulcan plant is the key to increased revenue/profitability. currently suspended due to Covid-19. medium to long-term should be a huge boost to THS.
from the video:
good to see chrome prices higher.
also investment in fleet/equipment over last 18 months which affected profitability over that period of time now starting to pay off with these last quarter results.
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27/6/2020
11:59 | bradders51: Investors Chronicle article. May 22nd
Even a global pandemic couldn’t halt the skyrocketing palladium and rhodium price, which saw Tharisa’s (THS) earnings for the first five months make up for the shutdown in operations in March. The miner’s basket price – which covers its platinum, palladium and rhodium products all rolled up together – climbed by almost 60 per cent in the six months to 31 March, compared with the year before, to $1,612 (£1,320) per ounce (oz).
But big investment in reshaping the open pit at its Tharisa mine, and spending $20m on its mine fleet, kept a lid on cash flows – cash from operations dipped 8 per cent to $41m.
The run of spending is slowing after a year of mine renewal. Capital expenditure for the rest of 2020 is guided to be $21.9m, down from $47.7m in the first half, which should boost free cash flow in the back end of the year.
Chrome prices remain a drag on earnings, however, with a 15 per cent drop in the concentrate price to $138 per tonne (t) in the first half. The company said prices had already hit $155/t this week because of improving demand from the Chinese stainless steel market and destocking at ports in the country. Chrome provided 40 per cent of Tharisa’s revenue in the first half.
As we’ve noted in the past, the platinum group metal (PGM) price explosion came at a good time for Tharisa because it was deep in a high-capex phase. While this means the benefits of the record prices have not completely flowed through to investors, it does mean that the spending is out of the way and the mine is in better shape. Buy.
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26/5/2020
11:46 | mfhmfh: Capex in first half was $47.7m for re-shaping the open pit and investing in mining fleet. Whole organisation now in better shape.
Capex exepcted to be $21.9m for second half.
THS has not yet felt full effects of strong/increased PGM/chrome prices in first half due to Capex.
Should see the benefits of increased profit, cash flow, etc. in the 2nd half.
Competitor mines are struggling somewhat.
All IMHO.
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24/3/2020
11:29 | rougepierre: Buy buy buy...
Sales priced in dollars...costs in ZAR...
Palladium up 22% in 24 hours and 9% in one hour....
THS hasn't moved...plenty of cash...just doubled up...average 44p...
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19/2/2020
08:12 | fillipe: RNS today - holding doubled.
https://www.investegate.co.uk/tharisa-plc--ths-/rns/notification-of-major-holdings/202002190800094443D/
Significantly so.
f
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02/12/2019
08:06 | fillipe: THS being wanted from the off today.
f
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11/4/2019
08:53 | newtothisgame3: #THS Tharisa now ‘on track’ to meet its 2020 production targets https://twitter.com/smallcappick/status/1116263057699819520
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25/11/2017
16:04 | novicetrade68: Results due this week so we can see how well they're doing...
http://www.proactiveinvestors.co.uk/companies/news/187689/tharisa-shareholders-to-get-substantially-increased-dividends-with-introduction-of-interim-payout-187689.html
Tharisa shareholders to get substantially increased dividends, with introduction of interim payout
S
11:00 23 Nov 2017
The South Africa focused chrome miner said that based on improved earnings, its directors are recommending a final dividend for full year 2017 of 5 US cents per share
Chrome mining
Tharisa said it also intends to introduce the payment of an interim dividend
Tharisa PLC (LON:THS) has announced plans to reward its shareholders by recommending a substantially increased dividend and an improved dividend policy, including the introduction of an interim payout, helping boost its share price.
The South Africa focused chrome miner said that based on improved earnings, its directors are recommending a final dividend for full year 2017 of 5 US cents per share, reflecting a material increase on the maiden distribution of 1 US cent declared a year earlier.
READ: Tharisa to report sharp increase in earnings on the back of improved chrome concentrate price
Furthermore, Tharisa added that its dividend policy for full year 2018 will be changed to provide for a payout of at least 15% of consolidated net profit after tax, an increase from the previous stated dividend policy of at least 10% of consolidated net profit after tax.
The company said it also intends to introduce the payment of an interim dividend.
Phoevos Pouroulis, the group’s chief executive said: "Tharisa has had yet another strong year operationally and, despite relatively flat PGM basket prices, has benefitted from improved prices for chrome concentrate.
“In view of delivering strong growth, it is Tharisa's stated strategy to not only maintain but also improve returns to shareholders and provide more regular returns during the course of the financial calendar."
Analysts noted that the proposed dividend is over twice the level expected - based on a previously communicated 10% payout policy – which they take as a sign of the strong cash flows that the group has generated over the last 6 months or so.
WATCH: Tharisa on the lookout for opportunities after excellent year of production
Tharisa said it is currently preparing its financial statements for the financial year ended 30 September 2017, with the results expected to be released on or about 30 November 2017.
In late morning trading, Tharisa shares were 5.8%, or 5.5p higher at 100.0p.
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PLUS1
