Tharisa Share Discussion Threads

[sotolo] 28/8/2022 15:06

The board are not investing more by creating cheap shares but using the huge current profit for an investment that they think will have a big payback, ultimately increase our profit considerably and make us more in demand raising Our PE, as big shareholders I think they have similar interest to ours

[rjmahan] 28/8/2022 13:40

I'm irritated by Karo investment.

You own/manage a company trading at a meagre PE / PB - so what should you do ?

Invest in another, similar project trading over the border in a location notorious for expropriation.

There is no logic to investing more when you are this lowly valued - get the value of current assets up before even considering to invest more.

Shareholders insane to allow this.

[mjneish] 28/8/2022 11:22

Thanks. It's a fair amount. In 2021 it was just under $120 million. That is,

FY reported revenue: $596.3 million
Calculated amount from production figures: $718,157,200.

If they could halve that (say) it would make a big difference.

[sailing john] 28/8/2022 08:05

It's 3rd party final refining costs. (smelting) Something that the company are looking to reduce. Either through diy or a significant reduction in the contract charges. I think they are up for renegotiation this year. Others here might have more detail.

[mjneish] 27/8/2022 23:07

I have a question that I hope a mining buff can answer.

Reported revenue for H1 2022 is $334 million.

If I try to work this out given the production figures for Q1 and Q2 2022 I get rather more than this. Can someone explain why? Namely:

Q2 2022

PGMs: 44.1 koz @ $2806 per oz gives $123,744,600
Chrome: 374.9 kt @ $177 per t gives $66,357,300

Q1 2022

PGMs: 47.7 koz @ $2394 per oz gives $114,193,800
Chrome: 401.8 kt @ $161 per t gives $64,689,800

Total: $368,985,500, which is just under $35 million more than reported revenue.

Thank you for clearing up my complete ignorance.

[sotolo] 27/8/2022 08:44

Whitehunter. I am not very worried about this quarter or the final half, think they will still be creaming it in, even if a bit less than the last couple of years; it is next half and year or two that are worrying, as will they still be churning out all the cash that Karo etc need, at least Vulcan is paid for and at least as you say they only return us a paltry 17% of profits preferring to invest for the long haul. I always think investors slightly misunderstand this company, just as Hoc was a silver miner with gold but now the reverse is true, but market hasn’t noticed, so with THS unlike its rivals in PGM{s, Chromium is becoming increasingly important. Anyway both of us are hanging in here despite what could be a pretty nasty share price hit and even a lethal one if SA spins into revolution, but should become really good and we hope eventually be bought up for £, as teh family’s previous venture

[whitehunter] 26/8/2022 14:05

As I understand it a large part of the investment in Karo has been funded through excess cash (rather than letting us shareholders get our greedy hands on it). So in the longer term, if/when this investment proves fruitful I am hoping that it gets reflected in the market capital of the company. To date this investment is not really reflected in our share price which is fair enough at this point. Being an extremely illiquid stock, fairly tightly held the share price can oscillate significantly with negative sentiment. So rightly or wrongly I prefer to react to how the company tells me they are doing. So it will be interesting to see how much money they can make in this challenging qtr/half. I believe the demise of the ICE is greatly exaggerated and the demand for Tharisa’s commodities will outlive this period of turbulence that we are subject to presently.

[sotolo] 26/8/2022 09:01

At least I post here, without my bothering to write, as I see it, there would only have been 7 posts in a month, or without replies to mine only 5, so my honest posts are keeping this board alive, more views please and I welcome any apart from the slagger offers. Why is it negative to ask why SLP has been falling faster and whether we would begin to catch up which we may be beginning to? Yes White we could become a takeover target, the family have sold out before, however the price and demand depend a lot on what PGM’s and Chromium do which depends a lot on ICE demand against winds of recession, chip shortage and faster BEV take up, and chromium on Chinese economic problems and lockdown. However you are looking at longer term which is why I continues to hold! Let’s hope Karo launches into higher prices not much lower, but I rate this family

[whitehunter] 25/8/2022 18:35

Thanks for that. Another negative post. What about the prospect of Tharsia becoming a takeover target once it has got its new mine up and running with the great cash flow it has enjoyed over the past year and a half at least.

[sotolo] 25/8/2022 15:32

White Hunter, why ‘allegedlyR17;. Happy to email you my sto broker account if you send address, but why on earth would I waste my time with rude people on this board if I didn’t own them. Even the most pig headed here couldn’t really believe their armchair views on BEV v I E market, coming recession etc could affect the THS market which will ultimately just be affected by profit. All the best and please keep all views coming, even at the annoyance of some, as they and mutual respect are what makes these board so valuable. Don’t shoot the messenger, I am not responsible for the 33% pullback

[whitehunter] 23/8/2022 09:05

Why do you always seek out negativity in shares you allegedly own. Tharisa has more eggs in its basket and is probably more undervalued already.

[sotolo] 23/8/2022 08:15

No one here?
Why is SLp falling much faster than ths, as PGM’s fall? Will ths shortLy catch up?

[sotolo] 18/8/2022 07:45

Sadly as expected the bounce in PGM’s seems over as rh descending along with chromium

[basem1] 08/8/2022 16:24

Looks like the overhang has cleared There was a 100k dump last week and what looked like a 35k sell this morning

[ukgeorge] 08/8/2022 09:39

looks like it is about to spike

[basem1] 08/8/2022 09:17

Well bought this morning Should see a nice run to 120p

[moneyman50] 01/8/2022 16:03

HSBC are still refusing to pay my Tharisa dividend to me-still claiming they can’t find the payment from Tharisa-Absolutely disgrace-how long does it take to make a phone call to the Tharisa registrar to resolve the matter?.Everyone else I know have received their dividend from various other stockbrokers.

[plat hunter] 24/7/2022 13:07

That's mental

[moneyman50] 23/7/2022 14:56

Anyone else still waiting for HSBC Investdirect to pay their Tharisa dividend due on the 29/6-they have “apparently221; lost the payment from Tharisa

[haywards26] 20/7/2022 16:26

Nice Rhodium price increases!

JMAT $15,250 - a 10% increase over 6 days!

[sotolo] 14/7/2022 17:00

Yes Moneyman THS is still very profitable even at current prices, however PGM’s are falling and Chrome has begun to, if there is a world crash presumably the falls will accelerate hence the share price anticipating this. Tiger, in the end I didn’t follow you and buy more on results day as I remember that if you wait the price is always lower in a bear market. I wish I could bring myself to sell but I can’t. Interesting that over last 3 months ths is down by about 40% and SLp only 10% and the latter is actually up today so thinking of selling them?
On another note Tiger if Egypt defaulted how (and how much) would that affect Centamin?

[moneyman50] 14/7/2022 16:28

Total induce “panic tactics” now been played out making people think they should sell shares in healthy companies when they don’t need too.-the world will not stop because of a recession
PGMs will the first to be in short supply and are required for the Green economy which will happen even if there is a period of recession -maybe even in shorter supply if companies with weak fundamentals go to the wall.
THS very profitable even at current prices,ridiculously low P/E and healthy dividend -chrome prices still up $100 per ton compared to last year

[ukgeorge] 14/7/2022 15:38

Interesting thoughts on CEY, the Arab spring was started by high wheat prices so it could be a bit of history repeating itself.

I'm steering clear of these currently just because of the falling pgm prices driven in the main by the negative macro picture.

[tigerbythetail] 14/7/2022 14:30

Hi Sotolo!
(Off topic) BTW, it's worth keeping an eye on Egypt's stability, re: Centamin. It's sovereign debt is beginning to indicate signs that a default may be in the works. That's what happens when the dollar is surging, and oil and food prices are rising as well, and you've got few natural resources or sources of dollar earnings, and a large and hungry population. See Sri Lanka's current troubles for a worst case outcome.
I've bought a few Tharisa shares now because I believe in this company and the shares are well-backed by dividends, but I'm still mostly staying out of this market. All the investment books say that "it is time in the market that matters". But, in my experience, what really matters is the time you spend out of the market. Like in February / March 2020. And (IMO) now.