Thoughts from Simon
- Sibanye (SGL) is buying unwanted Anglo Platinum (AMS) mines for R4.5bn. This is R1.5bn up front and a further minimum payment of R3bn based on free cash flow generated. This is good for AMS, but we’ll have to see if it’s good for SGL. Can Neal Froneman (CEO of SGL) make profits where others couldn’t? Certainly that is his reputation, but this is not going to be easy. Also, SGL shareholders now have a gold/platinum company when they initially bought a gold mining company. Will that matter to shareholders?
- Sasfin (SFN): more great results form them. They’re trading on a price to book (P/B) of around 1.5x. For them that’s reasonable.
- Santova (SNV) have issued a cautionary. I have no idea what it is about, but I would think it is about an offshore deal rather than local. Management have been commenting that offshore is their future and they’ve recently surpassed half their profits coming from offshore (Hong Kong, Europe, Australia and UK).
Q&A with Warren Peacock from TheTradersPlace.co.za
- Thirty minutes of Q&A with Warren as he answers questions on trading, specifically:
- What to trade
- What time frames to use
- The two different types of volatility
- Managing trade and portfolio risk and more
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