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THS Tharisa Plc

78.00
1.00 (1.30%)
18 Jun 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
  1.00 1.30% 78.00 76.00 78.00 77.00 76.50 77.00 82,537 16:35:13
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Miscellaneous Metal Ores,nec 649.89M 82.24M 0.2743 2.81 230.84M
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 77p. Over the last year, Tharisa shares have traded in a share price range of 47.25p to 84.00p.

Tharisa currently has 299,794,034 shares in issue. The market capitalisation of Tharisa is £230.84 million. Tharisa has a price to earnings ratio (PE ratio) of 2.81.

Tharisa Share Discussion Threads

Showing 1901 to 1924 of 1950 messages
Chat Pages: 78  77  76  75  74  73  72  71  70  69  68  67  Older
DateSubjectAuthorDiscuss
06/3/2024
15:32
It will be interesting to see the interims. Based on production and average basket prices in Q1 and Q2, turnover should be marginally ahead of the comparable period last year, with stronger chrome prices offsetting weaker PGM. Obviously I don't know about costs, however in comparable H1 last year company did EPS of 14p and generated (pre capex & dividends) $96m of cashflow, after a positive $23m movement in working capital.

At current share price that's an annualised P/E of 1.7

stemis
06/3/2024
15:10
Influential Twitter poster back in :

#THS I have bought back some. A 48p share price is just too low giving it a market cap of £144m and last reported net cash of $109m. Chrome prices are still really high c$290/t, shorts seem to be closing on Palladium and Platinum/Rhodium are due a move up. May not do much in the short term but I just can't sit outside at this price

nigelpm
06/3/2024
13:57
This really isn't a case of foolish PI impatience vs. wise management pursuing a long term strategy that will eventually reward patient shareholders.
The Karo (mis)adventure has the potential to go horribly wrong for Tharisa. It could drive the whole company into the ground.
That is why this company trades on a valuation that, on the face of it, seems derisory.
A reminder - just a few short years ago chrome traded at $120/t, not $300/t. If the chrome price drops and PGM prices don't pick up, then Tharisa will be in an unenviable position.

tigerbythetail
06/3/2024
13:12
depends what your strategy is

wait for growth, upward trend of share price, positive results

or just hold whatever the price because it looks a good buy or is cheap?

nakedmolerat
06/3/2024
11:34
100% Stemis. You see it regularly on these boards, twitter and LSE - so much short term impatience and gamblers barely looking in front of their noses.
nigelpm
06/3/2024
10:34
Directors usually have a longer time frame than most PI's, who just want to see the share price go up in the short term, take a profit and move on, even if it means liquidating the company. They are also closer to the market than most of us. I don't imagine the board of THS took the decision lightly to invest large amount of cash (42% of which would accrue to them) in Karo. If Karo is worthless, as the share price suggests, then a great chunk of the PGM mining industry is worthless and I find that hard to believe. But in the end we will see...
stemis
06/3/2024
10:25
When Tharisa invest cash in Karo, implicitly 42% of it is technically attributable to the largest shareholders so it is not as if they are bystanders. Though the prospect of a return on invest is harder to judge atm.
whitehunter
06/3/2024
10:16
It's also worth bearing in mind that THS management own 42% of the company so they are hardly indifferent to shareholder value.
stemis
06/3/2024
10:13
Bit of a misrepresentation, Sotolo

What Tharisa said was "I have reported such [comments] to the LSE, particular those referring to Tharisa as being corrupt or insinuating that we are not aware of our regulatory obligations wrt to disclosing information. We have also notified our legal team of these comments."

stemis
06/3/2024
10:08
Hi Sotolo!
I don't really know what to say - except I'm sorry that this has turned out like this (at least for now).
The recent share price drop here has shocked me. The Tharisa mine (in South Africa) is still decently profitable, thanks to chrome prices, but the market doesn't value that at all.
I do think platinum prices will eventually recover somewhat, based on industrial demand, but I also think that palladium may have further to fall. Platinum seems to have almost entirely lost its role as a precious metal / store of value. Gold is at all-time highs but platinum hasn't reacted at all.
IMO, the sensible course of action for Tharisa is to stop funding Karo immediately. But I don't think Tharisa's BoD are capable of making such a hard decision. Which means they will get dragged in deeper and deeper. I can't imagine who would lend them money for a project with such terrible economics without a guarantee from Tharisa itself. Indeed, I can't really imagine why anybody would lend them any money at all for Karo.
So here we are. I hope this is the bottom. It really should be, but I don't trust management to make the necessary decisions, so I'll steer clear for now.

tigerbythetail
05/3/2024
17:54
Well Tiger very prescient of you to sell. In the less than 4 weeks since the price has fallen by a quarter. I sadly held on, despite one huge danger sign, the company threatening its shareholders for posting on lse, really scary and brutal in my opinion, but maybe I am delicate in South African terms. At least it appears one can still post relatively freely here but not of course your post with a word to do with soda water that I cannot repeat despite it is in your post. If the company is that rattled I wonder whether it will raise the debt it needs for Karo given the lowly capitalisation now, you seem to have been prescient and wise. Now Inwish Inhad held on to Centamin and never switched here. Do you think it will recover or do you still not hold much hope for it?
sotolo
23/2/2024
17:50
Here's the last detailed update on Karos

hxxps://www.tharisa.com/pdf/investors/presentation/2022/20221012-tharisa-kmh-marketing-presentation-october-2022-final.pdf

At the time the cash cost was US$1 096/PGM oz (exc royalties & tax). Forecast production 194k oz pa. Company has a 5 year tax holiday from operations. Average PGM basket price in quarter ended 31 December 2023 was $1,344

stemis
23/2/2024
08:47
Clearly, all haven't 'dumped it' as otherwise it would have no shareholders. Amazingly, the same number of shares are owned now as were a year ago. Every seller has a buyer.
stemis
22/2/2024
23:44
the chart is awful, nobody has confidence in karo and money still seems to be thrown at a mine that will be lose making, unless prices return to where they once were

this is why all have dumped it, i have no confidence in the board at all

nakedmolerat
15/2/2024
19:46
Time will tell here but i do not see how anyone can predict what pgm prices will be in 2025.I hope they recover and karo is a success but i can not be sure and no one can.At the end of the day Tharisa will keep financing it and thats the gamble.PGM prices improve and Tharisa is worth multiples of what it is today.Karo fails and at least we are left with a circa 2million ton chrome producer paying 15%npat dividend.Remenber management have plenty of skin in the game here.GLA
andydaf
15/2/2024
08:44
Investors wonder why companies are reluctant to interact with PI's.

I'm not a great fan of LSE. In my (albeit fairly limited interaction - mainly DX., SQZ and THS) I've found it the source of some absolutely woeful analysis, which is then swallowed wholesale by gullible readers.

stemis
14/2/2024
20:09
Legal team have been notified also. Ouch.
nigelpm
14/2/2024
18:19
I've been reading the posts on LSE again. They are well worth studying carefully.
However you dice and slice it, it seems to me that the very substantial Karo investment has been horrendously misjudged.
I don't believe that a sudden boom in PGM prices will come to the rescue of the project. In particular, I believe that palladium prices will now stay down for years to come. And I don't believe that Tharisa will be able to attract external money to the project either; the economics simply aren't there.
So (IMO) it comes down to this:
a. Tharisa come to their senses, cut their losses, and freeze investment in Karo. (Which possibly leads to it being seized back by the Zimbabwean government, as happened to the project's previous owner).
b. Tharisa throw more and more good money after bad and end up funding the entire project. That would eat up the entire profits from South Africa for several years and depends on chrome prices staying high, which is uncertain.
All in all, it's a terrible position to be in.
In normal circumstances I'd say the CEO should walk the plank for an error of this magnitude, but that's not going to happen here. So most likely Tharisa will just go on stubbornly funding Karo and shareholders will go on suffering.
It's a pity, but IMO that's how it is.

tigerbythetail
08/2/2024
09:57
Thanks Tiger - much appreciated.

I'm sure if the outlook changes there will be plenty of time to re-invest - with something like Tharisa the upside isn't really going anywhere and I doubt it would jump on anything other than a bid approach and I'd see that as highly unlikely.

nigelpm
08/2/2024
09:22
I found this by chance on the JLP LSE board. I don't think this interview with the CEO at the mining Indaba been posted here before:

hxxps://youtu.be/qtPxqXQ0MRg?si=xDk-D4kg305jl5T1

I also note that palladium and platinum prices have crossed over this morning in the $880s - palladium reverting to its long term historical norm of being cheaper than platinum.

Anyway, good luck to all here. I hope I was wrong to sell and it works out for you!

tigerbythetail
08/2/2024
07:26
guy called affran whos' always pumping oilers and metals has chucked in the towel, seems his crew has followed him
nakedmolerat
07/2/2024
20:43
My sense also from here, LSE and Twitter is a load of PI's have given up the game at the very bottom of the cycle. May be some downside still but we'll see.
nigelpm
07/2/2024
19:07
Fwiw. Having spent sometime looking at this earlier I'm in complete agreement with stemis...
nigelpm
07/2/2024
17:42
Platinum’s consecutive market deficits could deepen as lower PGM prices increase mine supply risks

https*://platinuminvestment.com/files/855484/WPIC_Platinum_Essentials_December_2023.pdf

(without the *)

stemis
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