Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Not a comment on Chrome but Platinum which has just touched its lowest ever level when priced against gold, opinion is of the mind that the gap to due to close based on charting if believe or follow those methods, hopefully they are right and Platinum starts to rise again.
Hopefully if chrome prices hold together with a combination of slightly higher Pgm prices,the share buy back program with a more favorable political situation in SA we might see a shareprice of £1 if production targets are meet
Swings and roundabouts. General direction looks positive.
Had a call from CT today. Many batteries have gone flat after nearly 24 hours off grid. May progress on Redox One be going well.
Pricing is spot on, and yes, stainless steel pricing has weakened but supply inquiries to us have not
• While many physical markets have weakened over the past month, chrome ore has bucked the trend with spot assessments rising to $320/t CIF China. This is now 5% above the peak level seen in 2023, and comes amid strong ferrochrome output gains in China. However, stainless steel prices have weakened recently, which may act as a near term cap. Chrome ore inventories at Chinese ports are currently around 2.6Mt according to latest Fastmarkets assessments, which is low compared to historical norms.
Dividend stands, and yes, there as a correction to tax treatment that we issued for RSA residents, payment dates and most important quantum, stand
Thank you for clarifying
So the stock is now exdividend?
I don’t know what HSBC was on about
As 2fatcatz has said there was a correction issued on 24th May, but this appears to be for SA tax residents. There has been no other communication from THS, or my two UK brokers, so the dividend stands as far as I can tell.
Ex Div: 13th June
Payment: 26th June
UK 1.17869p
I have had nothing from my broker. A correction was issued on 24th May, so HSBC may have gotten their wires crossed. If the divi had been cancelled then an RNS to that effect would have had to be issued.
Hi all
I have received two letters from HSBC invest direct one saying the amount of interim divi dated May 24 the other dated a day later saying the divi is canceled!!
Is that correct has the company cancelled the interim divi?
Please if anyone knows let me know
Many thx
PGM basket down this week but hopefully offset by the new ever so slightly record high chrome price.
. . . hoping management sleep easier and Steenhuisen et al (W Cape) can knock some sense into Ramaphosa.
Our logistics are running as smoothly as always, we continue to use Maputo and RB for the bulk of our material, and Durban is ruing smoothly. As you know, DP World is pending large sums of capital in Maputo and this we believe this will only enhance the opportunities to export c=via Maputo, although under the new leadership of Transnet they are working hard to restore the ports optimal functionality. Beira is far, I suspect they will look to Zim for chrome export although with the ban in place, not too sure how much will come out of Zim, for nw for us, everything as per normal , as for Saldanha, dedicated harbour, Walvis prohibitevely expensive from where we are
> PS Ilja can comment on WalvisBaai as a possible conduit or even Saldahna. As a final resort both could be an ideal solution. I'd forgotten Sishen/Saldahna functions very well.
Reference to the port was for the future. I keep random tabs on a few sailings, the most recent being Ardennes and JagRishi. It's not anywhere near a hopeless situation as seven carrier operators are using the port. Not long ago I was also keeping tabs on Shabaab who were slaughtering villagers around Cabo Delgado . . . getting closer to WEN gas interests in which I had a few bob.
If Ilja says LM/Maputo is functioning quite well that's okay by me . . . JacobZ and JuJu (plus paymasters) can potentially create mayhem in Kwazulu. Alternative routes are a prerequisite.
https://www.freightnews.co.za/article/beira-increases-chrome-storage-area-0
Fortunately my activities are elsewhere these days . . . like chatting to clifftop retired RN officers at the lookout along the Jurassic re illegal rubber boats and checking on my favourite Parex Kimmeridge well still chugging away since 1965.
V - when last have u been down the Beira corridor and seen Beira - I will be in Beira Sept and can tell u it is a mess the Pungwe is restrictive of shipping size - Mozambique It is a shambles Beira area politically as for Maputo good luck with that - you would be far better off the Bots/Namibia route for shipping - longer route but no problems - the Chinese in and about Nylstroom Bush Veld area are use Containers and Durban all under the books chrome fines leaving SA by the 20 ton load.
Time u put ur bush hat on and done a stroll
Hxulcolrdoh, even if Karo starts producing, at current prices chrome will still account for over half of turnover.
Chrome pricehas increased again this week.a
Ian.B, this article is 3 years old.
It mentions global new EV car sales reaching 10% by 2025 but we are already up to 14% in 2024.
There's a great deal to chew over here and a lot would have been discussed in the boardroom.
Unsure of the road transport route to Richard's Bay (? N3 in part) and bearing Zuma's MK presence any disruptive Kwazulu actions have to be considered. The Maputo effect is therefore all the more welcome. And the Beira quayside grows ever larger (assuming Zim exports are cheaper over that distance).
Offhand I'd say chrome has a big future and PP's comments support steps already in train. At some point Limpopo would have been considered for expansion but Ngezi became a safer option.
Interesting that Phoevos highlights the resilience of the 'co-product' model.
If and when Karo comes to fruition that will be the end of the 'co-product' model. Chrome might carry Tharisa at present but it is not going to carry Karo as well.
At that point it will be boom or bust.
Hoping for a coalition between the ANC and the DA with the EFF kept out.
Any coalition involving the EFF would be very bad for the mining sector -although may not even get combined vote of over 50%
Raxfactor, thanks for this article. Some very interesting comments although I do not agree with some of his assumptions and some of the Tharisa/Karo numbers are now well out of date.
If we accept the stated recent Johnson Matthey PGM demand/supply numbers then there is clearly a deficit in 2023 and 2024 for Pt/Pd/Rh. But this does not take into account the build up in stocks during 2021 and 2022. So for platinum stock increased 1135k in 2021, increased 472k in 2022, decreased 518k in 2023 and estimated to decrease 598k this year, but between 2021 to 2024 the cumulative figure is still an increase in stocks of 491k oz. So for me we still need to see a continuing deficit to the end of 2025 to see a big price increase. In his interim report comments, PP noted "the PGM price is ignoring the schism between supply and demand". I agree but the market sentiment seems to be sceptical of the reported deficit and stored stocks are not fully known (Russia has been a big seller to China/India in the last 2 years) while ICE demand over the next 10 years is highly unpredictable so PGM prices will require further undeniable evidence before a substantial price improvement happens but when it does the increase could be sizeable. For me we will have to wait until next year for that and between now and then further painful production cut backs will inevitably take place.
The oak bloke has put out this article today
Stellar review of Ths versus the rest with ths coming out on top, all areas of the business are looked at well worth your time to read.
https://open.substack.com/pub/theoakbloke/p/ths-might-be-a-good-time-for-ths?utm_source=share&utm_medium=android&r=5hab1