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THS Tharisa Plc

75.00
2.00 (2.74%)
17 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Tharisa Plc LSE:THS London Ordinary Share CY0103562118 ORD USD0.001 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  2.00 2.74% 75.00 74.00 76.00 75.00 73.00 73.00 307,441 12:14:46
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Miscellaneous Metal Ores,nec 649.89M 82.24M 0.2743 2.52 206.86M
Tharisa Plc is listed in the Miscellaneous Metal Ores sector of the London Stock Exchange with ticker THS. The last closing price for Tharisa was 73p. Over the last year, Tharisa shares have traded in a share price range of 47.25p to 94.00p.

Tharisa currently has 299,794,034 shares in issue. The market capitalisation of Tharisa is £206.86 million. Tharisa has a price to earnings ratio (PE ratio) of 2.52.

Tharisa Share Discussion Threads

Showing 1726 to 1750 of 1950 messages
Chat Pages: 78  77  76  75  74  73  72  71  70  69  68  67  Older
DateSubjectAuthorDiscuss
26/4/2023
13:17
The chrome price seems to be drifting upwards and even rhodium is up slightly according to metals daily-as long as no significant production cuts due to loadsheding should be a good quarter-shareprice appears deeply discounted and ignoring the consistent high chrome price.Karo also appears to be on target and staying within budget.
moneyman50
21/4/2023
11:28
I think the problem here is partly that the chromium price is drifting down too now
sotolo
13/4/2023
14:19
THS Summary from Tamesis analysis not following todays update.

- From an EBITDA perspective this mark to market pricing for chrome more than offsets the production downgrade leaving us forecasting $233m vs previous $225m.
With our updated model we expect chrome to contribute $416m (or 60%) of total revenue

ianb5004
13/4/2023
09:42
Hi Stemis!
I agree with that. Not a great update in itself, and the market won't like guidance being cut by 10% in the shortish term, but overall Tharisa is still an excellent prospect.
The section in the RNS on metals prices is interesting. The rhodium decline is blamed on ONE seller - under the circumstances, this can only mean the Russians (Norilsk Nickel / Russia itself) selling off their reserve stockpile of Pd and Rh. It's a "one and done" event, so (logically!) prices should recover later in the year.

tigerbythetail
13/4/2023
09:04
Disappointing to see the fall in Q2 PGM production which, coupled with the expected fall in basket price will have substantially cut PGM profits. However will be more than made up for by the increased chrome contribution.

In FY I have underlying PBT of ~$167m (stripping out something for minorities) which would put THS on a historic EV of ~2.3 x earnings.

Prorating turnover by the changes in ouput and prices in H1 (and assuming all other things being the same) I'd have PBT up by roughly 15%.

Still ridiculously cheap

stemis
13/4/2023
08:31
Berenberg raises Tharisa price target to 290 (270) pence - BUY
ianb5004
13/4/2023
08:31
Wide spread this morning too
lennonsalive
13/4/2023
08:19
A nice opportunity for a top this morning
scubadiverr
13/4/2023
08:09
Bargepole, good luck simps!
scepticalinvestor
13/4/2023
08:04
I can see a bid coming in from some bigger players. very undervalued based on RBPlat takeover price.
bubloo
13/4/2023
08:02
good dividend yield at this price. I will likely add at end of day
bubloo
13/4/2023
08:01
Only marked down a bit, more of buying opportunity for those who have a long term interest with Karo
lennonsalive
13/4/2023
06:47
Sadly numbers are out and PGM ounces down 20% on last quarter and forward guidance on total ounces down 10% which of course increase costs per ounce. Mining is a fickle business and Thevos can’t control the violent weather. Still cash has risen slightly
sotolo
11/4/2023
18:30
SteMis - I agree re sales over the past few months. Perhaps an opportunity to clear the rest has arisen as I described above.

Anyway it could be the overhang cleared - some good numbers for Q2/1H might see a reversal of the recent downward trend. I would perhaps be a buyer except that I already have toooo many! My 1H estimate is 20.2p eps - see details in a previous post from last week
nai SJ

sailing john
11/4/2023
18:07
I'm not that upto date with the history but aren't these the original minority shareholders in Tharisa Minerals that were bought out for shares in Feb 2022? Looks to me like they've been selling ever since. Suggestion on twitter that it's to settle their tax liabilities. Would explain some of the weakness in the share price...

Edit: See above

stemis
11/4/2023
17:56
"TigerByTheTail11 Apr '23 - 17:37 - 1679 of 1679
RNS out - substantial sales of shares by insiders - c. 1 million shares in all.
Hard to put a positive spin on that!"

Well here's my attempt!!!


"dealings in securities attributable to an associate of directors of a major subsidiary to settle the tax liability arising from the BEE transaction announced on 16 February 2022 is disclosed:"
Looks like multiple and large transactions in excess of 1.3m shares at around 22 Zar roughly 97p

The most interesting thing is who has bought them?
My guess/hope is that it is that Northam taking an opportunity to build a stake in THS after they pulled out of the competition (vs Implats) to buy RBPlat recently, They hold a large position in their target RBPlat that they might end up selling to Impala which would give them a bundle of surplus cash to invest. I've not really researched cash position of the 3 players so just speculation and wishful thinking perhaps!
All fingers xxd
SJ

Edit - The Northam decision to pull out or RBPlat bid was just 5 days back on the 5th April. Coincidence that we then have this transfer of shares!? Hmmmm

sailing john
11/4/2023
17:37
RNS out - substantial sales of shares by insiders - c. 1 million shares in all.
Hard to put a positive spin on that!

tigerbythetail
06/4/2023
14:50
Looking a bit more lively at last Sellers cleared Mr Market maybe starting to think 6 months ahead ?
basem1
05/4/2023
11:29
Karo is still 15 months for production and the rhodium price could be a lot higher.-most professional views expressed in articles published on metals daily seem to support this view.
Also do not discount all the professional opinions which point to upcoming large yearly deficits in platinium -which much logically lead to higher platinium prices.
The so called large borrowings for Karo represent less than one years free cash flow at current Pgm and chrome prices -it is a long term project
Don’t ignore the current power problems that are affecting Production in some PGM mines in South Africa and the Russia situation-both could boast PGM prices as China recovers
Finally the high chrome price currently cancels out the lower rhodium price.
Chrome price has virtually doubled from its low and freight costs have fallen -that’s an awful lot of extra profit.

moneyman50
05/4/2023
07:33
Yes rh makes up just 4% of the basket but even at these heavily reduced rh price, it is still nearly 25% of the profit and was over 50% before it’s tumble, hence why it matters,?the stressing and a share price that looks way undervalued in the rear view mirror but may not be with Karo basket already dropped to around $1500 and falling fast
sotolo
31/3/2023
22:01
Have reviewed the Karo presentation and rhodium only represents 4.1% of the basket.
So not over material in the context of Karo.
So don’t really get this over stressing about the Karo basket which is not on line for another 15 months-platinum and palladium deficits predicted so prices maybe significantly higher in 18 months time -also price increased predicted by most experts.

moneyman50
31/3/2023
15:20
Half year end and we appear stuck around 100p ish as Mr M nervous about commodity prices. However, I think Tharisa will have another good year even with some cautious forecasts for 2H in my model.

Beyond 2023 who knows and I'm cautious about Kiro but encouraged by the fact that the Directors own over 40% of THS and so far haven't put a foot wrong afaik. I'm assuming when they have built the business to include Kiro they will be open to offers that reflect the NPV of the two mines which is likely to be a lot more than 200p! Haven't they previously developed and sold?

Here are my forecasts (Q1 is actual)
PGM koz... 43.. 45.. 45.. 45
PGM price 2360 2100 1800 1800

Chrome kT 383..450..450..450
Av. Price 223..280..250..250

My model output at $1.24 xr

1H eps 20.2p
2H eps 17.3p
FY eps 37.5p
PE circa 2.7
Divi circa 6p - yield 6% at 100p

Interested in any other views
SJ

sailing john
30/3/2023
16:47
Sorry shoul read down escalator
sotolo
30/3/2023
15:34
Rh on the Dow escalator again, and basket nearing $1800. There can’t be a takeover as long as the family keen on holding. The dividend is likely to be reduce as unlikely to increase the approx 17% share of profits and profits will be down despite chromium as that too is toppy.
sotolo
28/3/2023
16:43
Sorry should read $12 million re cost of dividend
moneyman50
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