Tharisa Share Discussion Threads

[indalo] 27/3/2023 13:52

Agreed. Very positive and removes a lot of refinancing risk. At 200p this still looks cheap, but more visibility on enhanced distributable earnings will solve that.

[tigerbythetail] 27/3/2023 09:25

I'm taking the finance as good news - THS could just about have funded Karo from internal cashflows, as long as there wasn't a major world recession (= commodity price crash). This both insures against that and increases flexibility.
I'm assuming the price dumped to 92p because there were concerns about an equity raise. So this should bounce back now.
Glad I bought more at around the bottom. Still holding for 200p medium term - the undervaluation here is crazy, even allowing for SA and Zim risk.

[ianb5004] 27/3/2023 09:11

£130mil finance secured. Ths could be on the up.

[wingrove4] 24/3/2023 08:02

Tipped by Moneyweek today

[tigerbythetail] 22/3/2023 17:47

FWIW, I bought a few today, and I'm thinking to buy more. Though slowly, perhaps, as I'm not sure:
a) where rhodium will settle, and
b) how bad the (likely) coming recession will be, because that will inevitably hit all commodity prices hard.
I believe (but with fairly low confidence) that the Russians have been dumping rhodium and palladium from their reserve stocks onto the market because they are in such dire economic straits, and that the current glut of product is temporary. It's also worth noting that SA deep mine production will come down gradually. I'm not sure we've found a bottom yet for the two metals, but it's there somewhere. Barring a humdinger of a world recession, demand should be strong enough.

[sotolo] 22/3/2023 06:16

Never mind? Rhodium now I free fall with decline accelerating and nothing to stop it, down 70% now in a couple of years and PGM prices hurtling towards beak even and loss, makes Karo investment a big question unless this turns as currently building a loss making mine. Big question is will chromium stay up and make up for PGM losses as those fall, and will THS have to borrow more to build it? Explains the rear view pe of 2 as going forward we could be 10 20 or more. Mi es are of course cyclical as is chromium but the PGM decline may be secular

[frizzers] 20/3/2023 12:49

never mind

[dunns_river_falls] 02/3/2023 16:43

Really good day today when considering it went ex div. Good volume too. Assuming that some people sold in the days before the div and bought back today.

[mfhmfh] 02/3/2023 08:58

From VTU today:

'Signs of new car supply improving after extended period of disruption...'

[nakedmolerat] 02/3/2023 08:47

exdividend today dont forget

[sotolo] 01/3/2023 22:16

strange, on my favourite site chromium is a little off, hopefully just a breather from a great rise which has been just about making up for PGM fall….so far

[pecuniarum copia] 01/3/2023 10:39

Chinese business activity blows past pre-COVID levels in Feb - PMI

[mfhmfh] 01/3/2023 07:24

China’s factory activity reading rose to 52.6 in February, its highest level since April 2012.

[sotolo] 28/2/2023 11:20

I think maybe the market has been anticipating the rhodium tumble, with electric vehicle sales taking off and expected to reach a third of vehicles within 5 years. If that really happens would be a massive hit to PGM’s and in Karo we have put a big further bet on them. However this would still be fair value on quartered profits imho

[lennonsalive] 23/2/2023 16:40

You say jam tomorrow but look at all those companies that come and gone like spacs, oilers, techs etc no value at all. This has growth and dividends. It's just frustrating the market doesn't recognise this at the moment.

[loglorry1] 23/2/2023 16:24

It's much more tax efficient for the company to reinvest and grow with free cash flow than return it via divis.

The problem is that they might screw it up and loose the cash they invested. However returning the cash to me might suffer the same problem. I may also screw it up!

[whitehunter] 23/2/2023 15:49

It would be nice to look back and find that this was a great entry point. However I take your point that it could be a long hold. Dividends are not too bad atm.

[martinfrench] 23/2/2023 15:22

tharisa will never get near SLP until they start to do a lot less jam tomorrow projects and get a better balance with shareholder returns

you can only re-invest for so long. they need a period of great dividends and / or buybacks and then the share price will fly

until then there is no movement, and dead money. i have a decent amount and have 3 far better prospects to invest in, so why would you sit and watch paint dry until karo kicks in ?

[moneyman50] 21/2/2023 11:39

Also need to take into account significant fall in shipping freight costs and rand/dollar exchange rate.

[moneyman50] 21/2/2023 10:28

Yes PGMs are done but are forecast to increase-everyone seems to forget the price of chrome is nearly double that of the price this time last year-this should more than outweigh the recent weakness in PGM prices

[sotolo] 20/2/2023 11:31

NTV basket still falling, now down to $2175 at this rate it may eventually make the share price seem fair value, unles the share price falls with the basket

[ntv] 10/2/2023 09:47

Rhodium appears to be creeping back up too

[ntv] 10/2/2023 08:24

Chrome price up to $298 according to twitter
They must be raking it in