Platinum & PGMs

after reading the MD&A, key takeaways for me are the rand strength is hurting realised prices even though spot's decent, and cost inflation on labour and power is eating margins. impala's got decent liquidity which matters given load-shedding keeps squeezing production, but the dividend yield at these levels is still attractive if you believe pgm demand holds through the cycle. anglos doing better on cost but IMP's got better reserves, so it's a patience game imo.

sitting on imp at r198.84 and honestly the rand weakness is helping but the real story is palladium and rhodium prices staying decent while platinum grinds. if we crack r200 and hold it could be lekker for the next leg. production costs are still eating them though, load shedding is a bliksem for any miner right now.

Platinum cycle is brutal but impala's got real assets in the ground, not vaporware. Yeah close was R198.84 but if you can't handle volatility in a cyclical commodity stock maybe equities aint for you. palladium autocats still need supply, rhodium spreads are fat, this company prints cash when the cycle turns. Long holders will win, I'm not worried.

strikes at R200 looking thin tbh

Sitting just under R200 here. PGM cycle is still weak but IMP's got the balance sheet to ride it out, unlike some of the smaller producers. Real question is when automotive demand picks up again, that's when this moves, simple as that.

Platinum's dead money till China wakes up.