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 Shares Traded Last Trade
  -1.50 -1.7% 86.50 87,087 15:48:00
Bid Price Offer Price High Price Low Price Open Price
85.00 88.00 89.50 86.50 89.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 279.02 9.08 3.25 28.9 231
Last Trade Time Trade Type Trade Size Trade Price Currency
16:06:06 O 1,000 87.00 GBX

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Date Time Title Posts
27/11/202010:34Tharisa - PGM Producer in South Africa262
25/5/200022:02GRowth Stocks Investors - May/June 2000.3
29/4/200005:56Tal. Hs. Can chart be posted, hic.3
14/12/199917:27Talisman House1

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Tharisa Daily Update: Tharisa Plc is listed in the Mining sector of the London Stock Exchange with ticker THS. The last closing price for Tharisa was 88p.
Tharisa Plc has a 4 week average price of 69.50p and a 12 week average price of 69.50p.
The 1 year high share price is 89.50p while the 1 year low share price is currently 37.50p.
There are currently 266,610,951 shares in issue and the average daily traded volume is 357,050 shares. The market capitalisation of Tharisa Plc is £234,617,636.88.
mfhmfh: Interesting numbers regarding THS: They are quoting 16-17c EPS for the whole year which is about 12p. But they only made 3.6c by the half year which is 2.69p. So in the 2nd half they made around 9p EPS. If they make 9p EPS for the first and 2nd half of next year that gives an EPS of 18p. A PE ratio of 12 gives a share price of 216p (18 × 12). But the 2nd half was impacted by mine closure due to Covid-19 and PGM prices are higher so they should make more than 9p EPS for both halves of the year. 200p should really be a baseline share price and even then it would be discounted. All IMHO. Friday last day to buy before results.
paleje: So 12-13p/share through a difficult period. Reasonable to think that might improve as the global economy recovery from the pandemic gets underway. Too cheap.
ukgeorge: News out, earnings expected to be 16/17 cents per share up 300/325% from the previous year.
sharpshare: Rhodium price today USD 13500 per oz per THS produced 13,5000 oz of rhodium in the last financial year. At today's prices that is worth about USD 182.25 million As THS produces a concentrate they get about 81%? of this value. This year the guidance is for about 14% more PGM's so about 14700 oz of rhodium. Bonanza time! THS is wisely using some of the extra cash flow to pre strip the open pit and upgrade recoveries to reduce costs, increase revenue and boost profits in the future.
sharpshare: The Vulcan plant will turn a waste stream of chrome tailings into a revenue stream of chrome concentrate. So when the Vulcan plant is operational we can expected extra annual revenue of about 380,000 tons at USD 140 per ton meaning USD 53,200,000. opex 380,000 tons at about USD 4.16 per ton for USD 1,580,800 Transport costs to customers in China around USD 63 per ton costing USD 23,940,000 So extra gross profit per year from this plant around USD 27,680,000 Open pit life about 12 years, then underground of over 20 years (depending on prices then) So gross profit from this one investment over next 12yrs is about USD 332,160,000 Market cap today at 77p is about USD 266,000,000 If we apply a multiple of around 5 on this extra profit it is worth about USD 138,400,000 or about 40p per share extra. The Vulcan plant will increase margins significantly and reduce the risk of mine closure if chrome prices drop so enhancing the value of the entire mine.
davebowler: End July -Tharisa Plc THST.L : Peel Hunt raises target price to 165p from 155p
mfhmfh: Vulcan plant is the key to increased revenue/profitability. currently suspended due to Covid-19. medium to long-term should be a huge boost to THS. from the video: good to see chrome prices higher. also investment in fleet/equipment over last 18 months which affected profitability over that period of time now starting to pay off with these last quarter results.
bradders51: Investors Chronicle article. May 22nd Even a global pandemic couldn’t halt the skyrocketing palladium and rhodium price, which saw Tharisa’s (THS) earnings for the first five months make up for the shutdown in operations in March. The miner’s basket price – which covers its platinum, palladium and rhodium products all rolled up together – climbed by almost 60 per cent in the six months to 31 March, compared with the year before, to $1,612 (£1,320) per ounce (oz). But big investment in reshaping the open pit at its Tharisa mine, and spending $20m on its mine fleet, kept a lid on cash flows – cash from operations dipped 8 per cent to $41m. The run of spending is slowing after a year of mine renewal. Capital expenditure for the rest of 2020 is guided to be $21.9m, down from $47.7m in the first half, which should boost free cash flow in the back end of the year. Chrome prices remain a drag on earnings, however, with a 15 per cent drop in the concentrate price to $138 per tonne (t) in the first half. The company said prices had already hit $155/t this week because of improving demand from the Chinese stainless steel market and destocking at ports in the country. Chrome provided 40 per cent of Tharisa’s revenue in the first half. As we’ve noted in the past, the platinum group metal (PGM) price explosion came at a good time for Tharisa because it was deep in a high-capex phase. While this means the benefits of the record prices have not completely flowed through to investors, it does mean that the spending is out of the way and the mine is in better shape. Buy.
paleje: What a palaver to get information. Seems to me they're doing ok, profits up with pgms remaining strong and chrome improving. Nothing astounding but nothing nasty either imo. From the (massive) report:- Chrome market update The reporting period was defined by weak chrome prices. As at the end of 2019 there was an overhang of ferrochrome inventory particularly, resulting from the excess of imports into China during Q2 FY2019. The market contracted at the end of 2019 when China responded to COVID-19, in part, by shuttering production. This was exacerbated by Spring Festival late in January 2020 owing to seasonally adjusted production and demand cuts. This coupled with supply chain disruptions elevated port inventories of chrome ore in China which peaked towards the end of April 2020 at over 4.2Mt. From March 2020 there was a de-stocking of stainless steel in China spurring price. Similarly the resumption of normal production levels of stainless steel in China has been met with a corresponding demand for ferrochrome and consequently chrome ore. The domestic price of ferrochrome has increased by RMB250/ per tonne and chrome ore by 25% or RMB 0.04/ dmtu post the reporting period. At the time of writing the report seaborne prices rebounded to above US$155/t CIF main ports China. Supply from South Africa has dwarfed demand and will remain interrupted for some time. The price of chrome is expected to have support at higher levels for the remainder of the financial year. PGM market update Fundamentals for the platinum group metals remain robust. Tharisa believes that while demand has slowed, particular in autocatalysts as they are directly linked to economic activity and manufacturing supply chains, supply will remain interrupted for longer than anticipated as mines, in particular in South Africa, deal with complex recommencement of operations and COVID-19 related disruptions. Data from Johnson Matthey sees an interesting dynamic, where autocatalyst demand is expected to fall by at least 15% to 20%, while in parallel PGMs supply will slow by more than 20%, as mines shut and network disruptions lead to a slowing in recyclable material coming back to the market. SFA Oxford have stated that mine closures are set to cut South African supply by more than 20% this year. The World Platinum Investment Council meanwhile said in its most recent update that while COVID-19 naturally has a negative effect on the demand for platinum, the latest result for Q1 CY2020 demand was less impacted than expected, maintaining a positive outlook for the remainder of the year. Tharisa believes in the unique properties of PGMs, which will mean the long-term demand for the metals remain healthy, coupled with reduced and disciplined producer supply of new ounces into the market, will underpin the balance and ensure prices remain strong for the next 24 months at least. Delays in projects, together with tighter capital markets for new developments from proposed new entrants, will mean new supply will be delay
paleje: Bit disappointing and April before next quarterly but I think we're overlooked. Worth noting SLP share price has risen by ~50% since reporting results last week. We should get a rise from pgm's too in spite of the lacklustre chrome price which they don't believe is sustainable and might start improving by Q3. Last FY pgm's and chrome accounted for roughly the same amounts each of gross profit, but in the last quarterly report pgm production increased more than chrome so the benefit of pgm price strength should outweigh chrome weakness. Particularly if that trend continues in the current quarter and no reason to think it wouldn't as management are up with events.
Tharisa share price data is direct from the London Stock Exchange
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