PGMs flying, but not the miners? (#445)

Simon Shares

• Purple Group* (JSE code: PPE) now has 1million clients across all platform. A wowzer number.

What an incredible milestone achieved today. Across all platforms & partners we've reached 1 million registrations. @CapitecBankSA @SATRIX_SA @BidvestBankSA @EasyEquities hard to describe how grateful I am to all you #invstr legends that challenge us to rise each day. 🙏🙏🙏

— Charles H Savage (@CharlesHSavage) May 5, 2021

 

• Combined Motor Holdings (JSE code: CMH) full year results. Second half saw decent cash flow, back to profit and dividends.
• Metrofile* (JSE code: MFL) are cancelling 4.18628% of their treasury shares.
• MTN (JSE code: MTN) first-quarter update, good numbers with group EBITDA +21.3%. Forward PE of around 11x is decent as it's being priced as a utility, albeit was even better back at 6000c when forward PE was c8x.
• Revego (JSE code: RVG) cancelled the listing.
• Tax Tuesday: Tax obligations for global citizens

* I hold ungeared positions.

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PGMs Flying, miners not so much

Palladium above US$3,000 (all-time high)

[caption id="attachment_26363" align="aligncenter" width="888"] Palladium weekly chart[/caption]

Platinum above US$1,200 (six-year high)

[caption id="attachment_26365" align="aligncenter" width="888"] Platinum weekly chart[/caption]

Rhodium above US$29,000 (all-time high)

PGMs are considered a 'green' metal in that they help reduce CO2 emissions.

Demand remains above supply.

• But production will increase.
• Scrap is increasing (especially with iron ore at records)
• Rand is strengthening and will likely continue to do so

But the listed miners are languishing nowhere, why?

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