Sylvania Platinum positive update. SLP

Monday, Apr 29 2019 by
12


· 16,256 4E PGM ounces produced in Q3;

· SDO PGM plant recoveries improved 3% to 48%;

· Gross basket price increased 15% to $1,383/ounce quarter-on-quarter;

· Net revenue increased 23% to $18.3 million;

· Group EBITDA improved 55% to $8.2 million in Q3;

· Group net profit up 33% to $5.0 million for the quarter; and

· Cash balance increased 17% from $20.2 million to $23.7 million.

The error in calculating Altman Z score (see my previous post and discussion) will impact on the Stockrank which is 94 anyway. Share Price has increased 100% since January and there is more to come. Platinum group metals prices are up and there is a nice cash buffer in the bank.

Could it be a Minervini type stock?

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Sylvania Platinum Limited is a producer of platinum group metals (PGMs), including platinum, palladium and rhodium. The Company is engaged in extraction of PGMs from chrome dumps and arisings, as well as investment in mineral exploration. The Company's segments include Mill sell, Steelpoort, Lannex, Mooinooi, Doornbosch, Tweefontein, Exploration projects and Corporate/Unallocated. It is focused on the retreatment plants. The Company has over seven operational retreatment processing plants, as well as an open cast mining exploration project and a Northern Limb exploration project, which is in the exploration phase. Its assets include Sylvania Dump Operations, Volspruit, Northern Limb Projects, Everest North and Chrome Tailings Re-Treatment Plant (CTRP). The Company holds prospecting and mining rights for a number of PGM projects on the Northern Limb of the Bushveld Igneous Complex. The Company's operations include in Australia and South Africa. more »

LSE Price
39.38p
Change
3.6%
Mkt Cap (£m)
108.5
P/E (fwd)
5.1
Yield (fwd)
5.0



  Is LON:SLP fundamentally strong or weak? Find out More »


2 Posts on this Thread show/hide all

InvestorJohn 29th Apr 1 of 2
2

Certainly some positive momentum now with the price of Sylvania Platinum (LON:SLP) and also the significantly upwards revisions to the brokers target price (for what its worth) and the Platinum/ Pallidium prices

Lets hope it continues

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wilkonz 30th Apr 2 of 2
1

In reply to post #472661

Yes all very encouraging Nickwild (I hold). Recently, the price of palladium has fallen 14% to $1383 from $1600 in March so there's more to Sylvania Platinum (LON:SLP) than just its palladium aspect. And if the price of palladium goes up again - which seems likely as the Russians may be producing less for the next couple of years - Sylvania Platinum (LON:SLP) could well drift up past 35 towards 40. At least that's what I'm hoping. 

William

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