I have started a small position in Umicore, a belgian recycle specialist with unique assets trading at historicaly low valuations. They recycle Pt, Pl and Rh and many more.
What would you think about adding a recycle specialist to the portfolio of miners? I know, it is quite a different game, but the prospects of this one seem compeling. I think it could offer a multibagger potential by limited downside potential. Thank you for your answer.
Thank you for your answer...I have read The Analyst call from April...I think it provides all the essential information you need...once again, thank you for your work...appreciate it
Do you know if there’s a way to play via land/mineral rights players? Have exposure to copper, nickel, gold, hydrogen via OTC mineral rights plays. But looking for precious metals and rare earths.
This is a fairly conservative bet. One of the world’s largest refiners and recyclers of PGMs. It profits from all stages: sourcing, refining, fabrication, and resale. Also offering direct exposure to PGMs demand across auto, hydrogen, and industrial sector
£JMAT is a catalyst manufacturer and PGM trader. It operates on wafer-thin margins (~2%), similar to grocers, but with little cash (£500M on current liabilities of £3B), moderate debt (~ 50% debt/equity), and without the strong cash conversion cycle of a grocer. I don't see that it benefits from a commodity cycle in the same way as a miner, because it is constantly replenishing it's PGM stock - it is an arbitrage play to me, but one without deep cash reserves.
Thank you very much for your write up.
I have started a small position in Umicore, a belgian recycle specialist with unique assets trading at historicaly low valuations. They recycle Pt, Pl and Rh and many more.
What would you think about adding a recycle specialist to the portfolio of miners? I know, it is quite a different game, but the prospects of this one seem compeling. I think it could offer a multibagger potential by limited downside potential. Thank you for your answer.
I will take a look at it, it has less leverage to PGM prices but it could be interesting.
Thank you for your answer...I have read The Analyst call from April...I think it provides all the essential information you need...once again, thank you for your work...appreciate it
Loved this. Valterra was the primary reason why I bought £AAL years ago - glad I can now own it in its own right
Well done! Excellent write up.
Do you know if there’s a way to play via land/mineral rights players? Have exposure to copper, nickel, gold, hydrogen via OTC mineral rights plays. But looking for precious metals and rare earths.
Not that I am aware, you will have to invest through a miner or tailwind processor. Happy you enjoyed the article!
I just own Some South African more quality assets which will ultimately benefit.
It's a great job. You didn't mention Johnson Matthey. Don't you see any potential in it?
Do not know about it, any context before I take a look at them?
This is a fairly conservative bet. One of the world’s largest refiners and recyclers of PGMs. It profits from all stages: sourcing, refining, fabrication, and resale. Also offering direct exposure to PGMs demand across auto, hydrogen, and industrial sector
Yes, know I remember, it is an interesting opportunity but I prefer to invest via miners, I think there is more upside.
£JMAT is a catalyst manufacturer and PGM trader. It operates on wafer-thin margins (~2%), similar to grocers, but with little cash (£500M on current liabilities of £3B), moderate debt (~ 50% debt/equity), and without the strong cash conversion cycle of a grocer. I don't see that it benefits from a commodity cycle in the same way as a miner, because it is constantly replenishing it's PGM stock - it is an arbitrage play to me, but one without deep cash reserves.
Thanks for the idea
Great Analysis, thoroughly enjoyed that.
Any quick thoughts on Eastern Platinum $ELR and Platinum Group Metals $PLG?
Do not know about them, some context before I take a look at them?
Just sent you a DM with some analysis