Yes, IMO too early. With eventual rising interest rates in US do you thing that EUR will reach parity with th USD. It is now 1.10. The EUR sinking to 1.00 would cause a decline of $60/oz in PD with all other things being equal (supply/demand , investment etc) I don't like buying into that sort of headwind. At $600 SWC cannot make money much less at $540. And there is still unresolved labor issue. On the plus side SWC has a lot of cash.
As far as Russia goes, they can still produce nickel and stockpile it, while selling the Pd. ANd who really knows how much PD Russia really has. Rumors of stockpile depleted have been around for years. And projected (J&M) PD deficit has been shrinking. There may be a deficit but no shortage right now.
I could see $500 PD in 18 months.
Fisher or fishee? SWC last report not as bad as it seems on the surface. IMO principal problem is low PGM and BP prices. Not much they can do about that. I would not take the bait until there is a recovery in PGM prices, something I don't think will happen. Not in the short term and IMO not in the long term. The 580-620 support area seems to be holding. Fortunately they have a strong balance sheet. With these PGM prices any hope for a div or buyback is minimal.
Last split was Dec 1999 !! Price just before that 3:2 split was 100.19
Back well above that now. Maybe they will wait until the next div raise (November?) and announce both at the same time. So a long range (November) prediction - 3/2 split with .46 div/qtr on the new shares.
" The "shorts" on this forum are living proof that these rosey outlooks were clearly happening as each and every quarterly release and press report was countered by the likes of bellbell, funtrader, and others"
To keep the record straight I was never short. My comments were not an attempt to drive the stock down (as if I could anyway). My analytical side just had to respond to what clearly was a difference between what they were saying and what the numbers showed. The one I remember in particular was Pdt saying "All the trends are in the right direction" but if you looked at the report 4 out of 5 key metrics were in fact going in the wrong direction. Too bad so many lost so much.
A glooming peace this morning with it brings.
The sun, for sorrow, will not show his head.
Go hence, to have more talk of these sad things.
Some shall be pardoned, and some punishèd.
For never was a story of more woe
Than this of NAP and her CEO.
With apologies to Will.
Implied price of new shares is now about 5.60 just below the exercise price of 5.97. Weirdest re-org I have ever seen.
Current shares were under .01 earlier - where a number of us said they should be,
"Didn't we hear that NAP was beginning to bring up more than 5K from underground ..."
recall on a cc that PdT said that they exceeded 5000TPD on several days in the quarter.
That can be quirk of UG timing and logistics.
"During the quarter underground production averaged slightly more than 4800 tons per day which may averaging just over 5000 tons a day a record for the segment."
??? Not sure what that means but 5000+ on a regular basis does not seem to be happening yet.
If no lawyer has come forth yet I don't think one will. Usually these guys appears within hours of something they think is fishy. The re-org has been known about for a long time.
You are confusing TPD from the shaft with TPD going thru the mill. The shaft TPD is about 5000TPD. Under normal operations 3400 TPD of low grade surface stockpile is added to raised ore giving the 8400TPD. While the mill was closed (but mine/shaft still operating) they created a large surface stockpile of UG ore which now will also add to the mill mix until stockpile is used up. The 11500 TPD is 5000 TPD from shaft + 3400 TPD fromlow grage stockpile (they call it RGO) + 3100TPD from UG ore stockpile. 11500TPD is within the mil capacity but can the TMF handle it right now?
Note that this will make Q3 look artificially better since the cost of building the UG stockpile was incurred in Q2 but revenue will be in Q3. Probably Q4 will be the first business as usual qtr (assuming the UG ore stockpile is all gone by the end of Q3. Whether they will show profit in a BAU qtr at the current metal prices is problematical. We may never see a Q3 or Q4 report as BAM may buy out the remaining 8% and take NAP private. Holding 92% they probably vote to take it private anyway.
As at June 30, 2015, the Company had cash and cash equivalents of $21.2 million compared to $10.4 million as at March 31, 2015.
On June 18, 2015, Brookfield made available a US$25 bridge loan to fund short term liquidity requirements related to the recent mill shutdown. The bridge loan is available in two tranches, matures on September 15, 2015 and bears interest at 16%. On June 19, 2015, the Company drew down the first US$15 million tranche of the bridge loan and on July 14, 2015 drew down on the second US$10 million tranche.
Without the bridge loan they would have no cash at all.
So can they mill the stockpile fast enough to keep above water. But with PD at 620 about 140 less than their realized price last qtr does it matter?
And the result of the vote was ????????? Maybe they will reveal it on cc.