I bought at 8.85p pasak but got out a couple of days ago as the sp was failing to break through resistance. I see this as a geared play on platinum - buy when the platinum price is low and sell when it is high - unfortunately the purchase of replacement capacity is muddying the waters and seems to have put folks off.
As for Ironveld - the recovery is after a big slump due to the placing - the prospects look good - but they have to raise more money - worth trading but I would wait for a pullback - for a longer term investment I think I will wait until they are fully funded through to production. Haven't really dug that deep in my research and Dan knows far more than me.
Just think this lot could have bought JLP and gathered up Hernic for a pittance.
Then sold off DCM (Chrome),Tjate ( now with license), Leinster(Nickel), Conroast etc to pay for the deal.
Plus they could have used JLP previous years tax losses to offset millions of Rands worth of taxes, as well.
Instead they buy a Phoenix.
Does it show a lack of ambition to be number 1 in the Platinum tailings league?
Progress on all fronts DAN - even licences and appeal going SLP's way - $422 per ounce is impressive. Two new projects from cash looks good.
JLP had a shocker today - I think it's just misleading / poor communication but damage has been done all the same.
All to the good Dan - JLP also in a sweet spot at the moment - chart looks set for the start of a relentless rise IMO - we will see. I think SLP will be a little more volatile as usual and with bigger spreads. Invested in both but also trading JLP.
The SDO 'cash cow' and its Echo should roll on nicely...
A new JV chrome beneficiation project was mentioned in the last quarterly report, plus Chrome from Grasvally.
Then we have Nonnenworth, La Pucella and Altona Platinum Exploration
Sylvania previously reported that they had rights to mine copper, gold, nickel and PGMs.
Diversification or another JV deal, plus why spend money on mining Volspruit with these low PGM prices at the moment? Just wait it out.
Will the Executive Council for Economic Development, Environment and Tourism rule on Volspruit ( regular local jobs or infrequent tourists )?
Increasing again today - with lots of chunky buys. the 20 day moving average is threatening to cross the 50 day moving average which would be very bullish - all looking promising with miners back in favour.
From a charting point of view SLP has a wonderful pair of descending tramlines (I know - not so wonderful if you have held through the decline).
What happens next well % wise we are looking at further declines with the next move down to 7.5p. However, if the sp holds at 9p for a while or even raises a tad to 9.25p it will break out of the tramlines. The trends your friend but it's only a trend until it ends. This week and interest expectations in USA could be pivotal.
My gut feeling is it's on a knife edge - positive dollarnews will send SLP to 7.5p and negative dollar news could see SLP break out and start wending it's way upwards - watching closely.
Trouble is nat - SLP is the purest play on pgm prices you can find and the upward movement in pgm's keeps going into reverse. I would take 8p again and wait for the next pgm rise. SLP are having to invest more money to keep the production at the same levels whilst the price of product is falling again - the sp is reflecting fundamentals but as usual the market may well overdo it and give us a nice bargain - watching and waiting.
Ironveld has reported details of the Sylvania Loan Facility.
At the time of the acquisition of the assets for the Project from the Sylvania Group ("Sylvania") in July 2012, the Company entered into a loan facility of R15 million with Sylvania Metals Pty Limited (the "Loan Facility"). Under the terms of the Loan Facility the Company undertook to grant Sylvania warrants as a guarantee. The Loan Facility, which now bears interest at 4% above the South African prime rate, was repayable no later than 30 June 2016, subsequently extended to 31 December 2016 and then to 30 June 2017. The Company has agreed with Sylvania an extension on the repayment date for the loan to 25 July 2017. The Directors' intention is to pay off the Loan Facility from the proceeds raised through the Conditional Placing.
The SLP bank balance will be looking good.
Now a controlling interest of JLP may cost about £20m.
Consolidate and merge?? Make money on tailings not mining. They have the know how....
Perhaps they examining a reverse takeover strategy or something sililar?
Better still hold onto that cash and wait a while... See what unfolds.
Remember Volspurit news must be due Will it be a good investment at present?
The DMR know about SA's need of jobs but Investors watch out for that crazy ownership Mining legislation......
Just look at JLP with that license signature with Volspurit just waiting.
Will SLP put in a bid for JLP while it is in the lowly 6ps. Merge and consolidate?
It looks a real bargain and not only will they get that Tjate license, they will get hold of conroast, and Hernic etc.
A time to talk finance with Samancor and do a deal,,methinks, unless this BoD have all gone back into hibernation mode. Also check out your crowdfunding opportunities....
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