Tharisa Share Discussion Threads

[deadly] 29/1/2021 12:28

The results from SLP today might have a read across here, hence the small fall in price.

[davebowler] 27/1/2021 13:29

Liberum has upped its target price for Sylvania today from £1.40 to £2

[daniel levi bmd] 25/1/2021 11:47

FYI

Zenith Energy. Congo Update!

Dan
x

[deadly] 21/1/2021 13:14

Why has this thread been given a special status at the top of the discussion list today?

[bunz3] 21/1/2021 12:22

John ,have you seen video out ggp

[mfhmfh] 21/1/2021 01:07

They are undertaking an initial exploration programme to look at the commercial viability of Salene.

If they have until 31st March to complete the deal they must be close to completion and will likely soon release an RNS detailing the results.

All IMHO.

[deadly] 20/1/2021 20:18

Tharisa extends the option to acquire 90% shareholding in Salene Chrome Zimbabwe (Pvt) Limited to 31 March 2021.

Don't know if this is positive, neutral or what.

[mfhmfh] 19/1/2021 15:37

surely this will break higher soon?

[basem1] 18/1/2021 12:28

Obviously not

[basem1] 18/1/2021 11:57

Wonder if ST tips this today ?

[mfhmfh] 18/1/2021 10:55

once the seller clears this will fly to 200p.

just look at SLP flying.

IMHO.

[scubadiverr] 15/1/2021 16:40

Can anyone point me in the direction of a good thesis evaluating THS vs SLP?

[martinfrench] 13/1/2021 14:20

thanks retrend, informative

[redtrend] 13/1/2021 12:57

Hi Martin - from the THS Annual Results Overview, they confirmed guidance for FYE Sept 2021 as follows:

"Guidance
FY2021 production guidance of 155 koz to 165 koz PGMs (6E basis) and 1.45 Mt to 1.55 Mt of chrome concentrates."


From the FY Q1 Report issued yesterday they're clearly on track to meet the middle of both guidances.

They are currently working on Vulcan Fine Chrome Project which will increase Chrome to the 2Mt for FYE Sept 2022, they should hit this target.

For PGMs, to push past 165K Oz figure, there are a number of optimisations THS are working on and it's THS "aspirational target" to achieve 200K PGMs in FYE Sept 2022 (this is by no means formal, but was stated as an aspiration in the last investor telecon with THS). From my notes from the investor call, the 200k target is dependent on increase in feed grade from open pit and increase in PGM recoveries to 85% (achieved 80% recovery FYE Sept 2020). To assist with this target THS mentioned 1 or 2 optimisation tweaks in flotation circuit as examples.


The original target of 2MT chrome and 200K PGMs dubbed Vision 2020 still mentioned on website was pushed back - COVID19 put a spanner in works not just from operational standpoint, but from financing the Vulcan Fine Chrome Project. With the explosion in PGM prices, they are now funding Vulcan Project organically from cashflow. Even with this additional capex for 2021, they've just turned Net Cash and seem to be improving their Net Cash position by $26m per quarter. That was when PGM basket was at $2,400. It's now at $3,000 Oz.

[martinfrench] 13/1/2021 12:22

as i just posted over on lse, isnt it a little unclear the amount of pgms going to be produced in 2021 ? or can someone clarify

[catsick] 13/1/2021 05:04

Rhodium fixes this am at 20k the profits at the moment will be insane, 40 year mine life and trading at around 1 times the current cash generation run rate

[napoleon 14th] 12/1/2021 22:49

BUBLOO - "trading at eps of around 2 if prices remain the same"

You mean a P/E of 2, surely?

[deadly] 12/1/2021 14:12

The XD date is 25th Feb. for 3.5cents.

[redtrend] 12/1/2021 13:20

Bubloo - apologies your right, although Tharisa's mine is next to mining town of Mooinooi, which itself is 2km from Gauteng.

[bubloo] 12/1/2021 11:13

based on todays prices ths is slated to to make ebidta of around 350 to 400 million dollars.
If you had listented to phoevus webinar he said the chromium profit margin was around 28% when chrome was in 130's and the aisc for pgm was arounf 588 dollars. If you look carefully at last years results it is clear that any increase in revenue largely goes into gross profit as this is I think a largely a fixed cost mining business with marginally variations.
my own calculations suggest it is trading at eps of around 2 if prices remain the same.
I have an eps of betwenn 50 to 60 cents at the least

all opinions welcome

[bubloo] 12/1/2021 11:06

tharisa mines are in northwestern province with low infective rates and not in gauteng