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NORTHAM PLATINUM HLDGS LTD

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Our opinion on the current state of NORTHAM(NPH)Northam (NPH) is a fully empowered platinum mining company that operates in the Bushveld complex. In the current difficult legislative environment, where the 3rd mining charter is regarded as unfriendly from an investment point of view, Northam is probably the only mining house that is buying up new properties. It has come to an arrangement with Anglo American to exploit a property adjacent to its Zondereinde mine (the deepest platinum mine in South Africa). It has also bought Eland Platinum from Glencore for R175m, which it intends to re-start at a cost of R2bn. On 29th October 2019, the company announced the acquisition of Maroelabult for R20m, which is west of the Eland mine with an analogous ore body. This has accelerated the bringing to production of Eland and required very little capital. With the Eland mine, Northam got a concentrator plant that can process up to 250,000 tons a month. In return, Glencore got the right to market all of Northam's chrome. At the same time, Northam has recently commissioned a new smelter to try to process its backlog of platinum ore, which is estimated to be worth about R2.5bn. Zondereinde is a deep-level mine that has all the problems associated with mining at depth, while Booysendal is a shallow mechanised mine that is much easier to manage. Both mines are profitable, but the empowerment structure results in Northam always reporting a loss because of the preference dividend that must be paid. Once Booysendal is complete, the company should generate strong cash flows. The appointment of Mcebisi Jonas (former South African Minister of Finance) and Jean Nel (previously CEO of Aquarius Platinum) as non-executive directors will significantly add to the strength of the board. The company has the stated intention of doubling its workforce as it strives to become a major PGM supplier in the world. With plans to increase production of PGMs over the next few years to 1 million ounces, this is probably one of the better options in the industry. The company has also sold its Impala shares for R3.1bn. The PGM industry is currently navigating significantly depressed PGM prices and high inflation, together with a raft of global geopolitical uncertainties and, locally, Eskom load curtailment events. In its results for the year to 30th June 2024, the company reported revenue down 22.2% and headline earnings per share (HEPS) down 81.6%. In a production update for the six months to 31st December 2024, the company reported refined PGM production up 3.7% and chrome production up 7.5%. The company said, "PGM production from Zondereinde remains on target, despite a stoppage during November as a result of a failure of a primary Eskom feed substation. Chrome concentrate production has benefitted from increased UG2 milling and further incremental improvements in chrome recovery." In a trading statement for the six months to 31st December 2024, the company estimated that HEPS would fall by between 44.7% and 54.7%. Since April 2021, there has been a steady decline in the share, which has seen it fall back substantially. Despite this, we see a good future for this company in the longer term, but it remains a volatile commodity share. We recommend waiting for a clear break up through the downward trendline before investigating further.
JSE:NPH
by PDSnetSA
NPH.JSE Northam Platinum Prints a Cup & Handle PatternNortham Platinum Prints a Cup & Handle Pattern which is Bullish. The Target Zone has been Project Up to show a Potential Upside of +- 19% Remember these Patterns are only on average about 75% correct, and need Patience and Conviction to play out. As always, please get a few outside Expert's Advice before taking Trade or Investment Decisions. Should you appreciate my Chart Studies, Smash That Rocket Boost Button. It's Just a Click away. Regards Graham.
JSE:NPHLong
by hitchcoxg
4
Our opinion on the current state of NORTHAM(NPH)Northam (NPH) is a fully empowered platinum mining company operating in the Bushveld Complex. In the current difficult legislative environment, where the third mining charter is regarded as unfriendly from an investment point of view, Northam stands out as the only mining house actively acquiring new properties. It has come to an arrangement with Anglo American to exploit a property adjacent to its Zondereinde mine, which is the deepest platinum mine in South Africa. Additionally, it has purchased Eland Platinum from Glencore for R175m, with plans to re-start operations at a cost of R2bn. On 29th October 2019, the company announced the acquisition of Maroelabult for R20m. This property, located west of the Eland mine with an analogous ore body, has accelerated the production timeline for Eland and required minimal capital. With the Eland acquisition, Northam also gained a concentrator plant capable of processing up to 250 000 tons a month. In return, Glencore secured the right to market all of Northam's chrome. To further enhance its processing capabilities, Northam recently commissioned a new smelter to address its platinum ore backlog, estimated to be worth about R2,5bn. Zondereinde is a deep-level mine that faces challenges typical of mining at depth, whereas Booysendal is a shallow, mechanised mine that is easier to manage. Both mines are profitable; however, Northam consistently reports losses due to the preference dividends that must be paid under its empowerment structure. Once Booysendal is complete, the company is expected to generate strong cash flows. The appointment of Mcebisi Jonas (former South African Minister of Finance) and Jean Nel (previous CEO of Aquarius Platinum) as non-executive directors strengthens the board significantly. The company has expressed its intention to double its workforce as it aims to become a major global supplier of PGMs. With plans to increase PGM production to 1 million ounces in the coming years, Northam is seen as one of the better options in the industry. It has also sold its Impala shares for R3,1bn, bolstering its financial position. The PGM industry is currently facing challenges, including depressed PGM prices, high inflation, global geopolitical uncertainties, and Eskom load curtailment events in South Africa. In its results for the year to 30th June 2024, Northam reported revenue down 22,2% and headline earnings per share (HEPS) down 81,6%. However, in a production update for the six months to 31st December 2024, refined PGM production was up 3,7%, and chrome production increased by 7,5%. The company noted, "PGM production from Zondereinde remains on target, despite a stoppage during November as a result of a failure of a primary Eskom feed substation. Chrome concentrate production has benefitted from increased UG2 milling and further incremental improvements in chrome recovery." Since April 2021, the share has experienced a steady decline, falling substantially. Despite this, Northam has a promising long-term future but remains a volatile commodity share. Investors are advised to wait for a clear break above the downward trendline before considering further action.
JSE:NPH
by PDSnetSA
Our opinion on the current state of NORTHAM(NPH)Northam (NPH) is a fully empowered platinum mining company operating in the Bushveld complex. In the current difficult legislative environment where the 3rd mining charter is regarded as unfriendly from an investment point of view, Northam is probably the only mining house buying up new properties. It has come to an arrangement with Anglo American to exploit a property adjacent to its Zondereinde mine (the deepest platinum mine in South Africa). It has also bought Eland Platinum from Glencore for R175m, which it intends to re-start at a cost of R2bn. On 29th October 2019, the company announced the acquisition of Maroelabult for R20m, which is west of the Eland mine with an analogous ore body. This has accelerated the bringing to production of Eland and required very little capital. With the Eland mine, Northam got a concentrator plant which can process up to 250,000 tons a month. In return, Glencore got the right to market all of Northam's chrome. At the same time, Northam has recently commissioned a new smelter to try to process its backlog of platinum ore, which is estimated to be worth about R2,5bn. Zondereinde is a deep-level mine which has all the problems associated with mining at depth, while Booysendal is a shallow mechanised mine which is much easier to manage. Both mines are profitable, but the empowerment structure results in Northam always reporting a loss because of the preference dividend that must be paid. Once Booysendal is complete, the company should generate strong cash flows. The appointment of Mcebisi Jonas (former South African Minister of Finance) and Jean Nel (previously CEO of Aquarius Platinum) as non-executive directors will significantly add to the strength of the board. The company has the stated intention of doubling its workforce as it strives to become a major PGM supplier in the world. With plans to increase production of PGM's over the next few years to 1 million ounces, this is probably one of the better options in the industry. The company has also sold its Impala shares for R3,1bn. In its results for the six months to 31st December 2023, the company reported sales revenue down 25,5% and headline earnings per share (HEPS) down 92,5%. The company said, "Disposal of Northam’s investment in RBPlat into the Implats Mandatory Offer for R9.0 billion in cash and 30 065 866 Implats Shares, significantly strengthening our balance sheet and liquidity position. The PGM industry is currently navigating significantly depressed PGM prices and high inflation, together with a raft of global geopolitical uncertainties and locally, Eskom load curtailment events. For the 6-month period ended 31 December 2023 (H1 F2024), the ZAR 4E basket price achieved decreased by 42.3%." In a voluntary production update on the year to 30th June 2024, the company reported a 10,4% increase in the production of refined 4E metals and a 7,3% increase in total metals sold. The company said, "The current price environment may endure for some time, and this, combined with higher general inflation, continues to exert pressure on the entire PGM sector. Given our UG2 dominant resource base, well-capitalised mining assets and proactive balance sheet management, Northam remains well-positioned." Since April 2021, there has been a steady decline in the share price, which has seen it fall back substantially. Despite this, we see a good future for this company in the longer term, but it remains a volatile commodity share. We recommend waiting for a clear break up through the downward trendline before investigating further.
JSE:NPH
by PDSnetSA
Our opinion on the current state of NPHNortham, identified by its ticker NPH, stands out as a fully empowered platinum mining entity operating within South Africa's Bushveld complex, navigating through a challenging legislative landscape marked by the introduction of the 3rd mining charter, viewed as less favorable for investments. Despite these hurdles, Northam distinguishes itself as possibly the sole mining house actively acquiring new properties amidst these conditions. It has negotiated a deal with Anglo American to exploit a property adjacent to its Zondereinde mine, recognized as the deepest platinum mine in the country. Additionally, Northam has taken a significant step by purchasing Eland Platinum from Glencore for R175 million, with plans to restart operations at a projected cost of R2 billion. On 29th October 2019, Northam expanded its portfolio through the acquisition of Maroelabult for R20 million, located west of the Eland mine, featuring a similar ore body. This strategic move has expedited the production timeline for Eland with minimal capital expenditure. The acquisition included a concentrator plant capable of processing up to 250,000 tons per month, while in exchange, Glencore secured the rights to market all of Northam's chrome production. Concurrently, Northam has initiated a new smelter to address its backlog of platinum ore, valued at approximately R2.5 billion, enhancing its operational capabilities. Northam operates two primary mines: Zondereinde and Booysendal. Zondereinde, a deep-level mine, faces challenges inherent to deep mining, whereas Booysendal is a shallower, mechanized mine, easier to manage and contributing to the company's profitability. Despite this, the company's empowerment structure results in reported losses due to preference dividends. The completion of Booysendal is anticipated to generate significant cash flows for Northam. The addition of Mcebisi Jonas, a former South African Minister of Finance, and Jean Nel, former CEO of Aquarius Platinum, as non-executive directors, is expected to significantly strengthen the company's board. Northam aims to double its workforce as part of its ambition to become a leading global supplier of Platinum Group Metals (PGMs), with plans to elevate PGM production to 1 million ounces in the upcoming years, positioning it as a favorable investment in the sector. The sale of its Impala shares for R3.1 billion underscores Northam's strategic financial moves. However, Northam reported a 25.5% decline in sales revenue and a 92.5% decrease in headline earnings per share (HEPS) for the six months ending 31st December 2023. The company's financial position has been bolstered by disposing of its investment in RBPlat into the Implats Mandatory Offer for R9.0 billion in cash and over 30 million Implats shares, enhancing its balance sheet and liquidity. The PGM industry faces challenges from depressed PGM prices, high inflation, global geopolitical uncertainties, and local issues such as Eskom load curtailment events, which have impacted the ZAR 4E basket price by a 42.3% decrease. Since April 2021, Northam's shares have experienced a steady decline, reflecting the volatility of commodity shares. Despite these challenges, the long-term outlook for Northam remains positive, suggesting potential for investors willing to wait for a clear upward trend before engaging further.
JSE:NPH
by PDSnetSA
Our opinion on the current state of NPHNortham Platinum, a fully empowered platinum mining entity operating within South Africa's Bushveld complex, stands out for its strategic acquisitions amidst a challenging legislative environment influenced by the 3rd mining charter. Its proactive approach in expanding its asset base includes securing rights to exploit land adjacent to its Zondereinde mine through an agreement with Anglo American, acquiring Eland Platinum from Glencore for R175 million with plans to restart operations at a cost of R2 billion, and purchasing Maroelabult for R20 million to expedite the production at Eland with minimal capital expenditure. Northam's strategic acquisitions have not only expanded its operational footprint but also enhanced its processing capabilities, as evidenced by the inclusion of a concentrator plant capable of processing up to 250,000 tons per month at the Eland mine. Furthermore, the agreement with Glencore to market all of Northam's chrome production, coupled with the commissioning of a new smelter, underscores Northam's commitment to optimizing its platinum ore backlog, valued at approximately R2.5 billion. The company's portfolio, featuring both deep-level and shallow mechanised mines, presents a diversified operational profile. Zondereinde's deep-level mining poses challenges associated with depth, whereas Booysendal's shallow mechanised nature offers a more manageable and profitable operation. However, Northam's empowerment structure has historically led to reported losses due to preference dividend obligations, with expectations for improved cash flows upon Booysendal's completion. The appointment of notable figures such as Mcebisi Jonas and Jean Nel to the board signifies a substantial enhancement to Northam's governance, aligning with its ambition to double its workforce and emerge as a leading PGM supplier globally. With plans to increase PGM production to 1 million ounces in the coming years, Northam positions itself as a compelling option within the platinum mining sector. For the fiscal year ending on 30th June 2023, Northam reported a 16.1% increase in sales revenue, although HEPS decreased by 7.5%. The sale of its investment in Royal Bafokeng Platinum Limited and Impala shares significantly bolstered Northam's balance sheet and liquidity. A production update for the six months ending on 31st December 2023 highlighted a 10.6% increase in refined metal production and a 19.9% rise in total production, reflecting the company's focus on mechanization to enhance operational efficiency and position on the cost curve. Despite a projected significant fall in HEPS for the six months to 31st December 2023, attributed to a decrease in sales revenue and the 4E ZAR basket price, Northam's proactive management and strategic positioning suggest a promising future. However, given the volatility associated with commodity shares and recent share price trends, prospective investors are advised to await a clear upward trend before considering investment, to capitalize on Northam's long-term growth potential amidst industry challenges.
JSE:NPH
by PDSnetSA
Our opinion on the current state of NPHNortham (NPH) is a fully empowered platinum mining company which operates in the Bushveld complex. In the current difficult legislative environment where the 3rd mining charter is regarded as unfriendly from an investment point of view, Northam is probably the only mining house which is buying up new properties. It has come to an arrangement with Anglo American to exploit a property adjacent to its Zondereinde mine (the deepest platinum mine in South Africa). It has also bought Eland Platinum from Glencore for R175m which it intends to re-start at a cost of R2bn. On 29th October 2019, the company announced the acquisition of Maroelabult for R20m which is west of the Eland mine with an analogous ore body. This has accelerated the bringing to production of Eland and required very little capital. With the Eland mine, Northam got a concentrator plant which can process up to 250 000 tons a month. In return, Glencore got the right to market all of Northam's chrome. At the same time Northam has recently commissioned a new smelter to try to process its backlog of platinum ore which is estimated to be worth about R2,5bn. Zondereinde is a deep-level mine which has all the problems associated with mining at depth, while Booysendal is a shallow mechanised mine which is much easier to manage. Both mines are profitable, but the empowerment structure results in Northam always reporting a loss because of the preference dividend that must be paid. Once Booysendal is complete the company should generate strong cash flows. The appointment of Mcebisi Jonas (former South African Minister of Finance) and Jean Nel (previously CEO of Aquarius Platinum) as non-executive directors will significantly add to the strength of the board. The company has the stated intention of doubling its workforce as it strives to become a major PGM supplier in the world. With plans to increase production of PGM's over the next few years to 1 million ounces, this is probably one of the better options in the industry. In its results for the year to 30th June 2023 the company reported sales revenue up 16,1% and headline earnings per share (HEPS) down 7,5%. The company said, "The sale of Northam's investment in Royal Bafokeng Platinum Limited subsequent to 30 June 2023 has presented an opportunity for Northam to significantly strengthen the group’s balance sheet and liquidity position." Since then the company has also sold its Impala shares for R3,1bn. In a production update for the six months to 31st December 2023 the company reported refined metal production up 10,6% and total production up 19,9%. The company said, "We have targeted increased mechanisation to grow production whilst lowering operational risk and improving our relative position on the industry cost curve." Northam's share price rose sharply on higher platinum group metals (PGM) prices during 2019, then fell in March 2020 due to the coronavirus pandemic. After that, it tracked up steadily reaching an all-time record high in April 2021. Since April 2021 there has been a steady decline in the share which has seen it fall back substantially. Despite this, we see a bright future for this company in the longer term, but it remains a volatile commodity share.
JSE:NPH
by PDSnetSA
Northam Hinting at Bearish 2024 First HalfNortham price has gone lower than 10 November low seeming to confirm a cycle failure, this puts the share in intermediate decline. We also see price action carving a rising wedge that is yet to break but has a higher confidence in breaking to the downside. We therefore look at the bearish Pitchfork and the retracement lines in how they interact with price & time for guidance on when likely the weekly cycle reaches a bottom. The weekly cycle ranges from 20 weeks, short and 30 weeks on average.
JSE:NPHShort
by runyamhere
Bullish Northam price Action analysisNortham Platinum Holdings Limited (JSE: NPH) 1.Price Formation: The price has broken out from a W(a falling wedge) price formation on a daily chart. 2.Moving Averages: The 7-day moving average (MA) is above the 21-day MA, which is a positive sign indicating bullish momentum. 3.200-day Moving Average is below the Price. 4.Thus, Mas 7>21 5.Relative Strength Index (RSI): The RSI is > than 50, indicating bullish momentum and potential further upward movement. 6.Price Target: 1st target = R200 and 2nd target =R250 Northam – the company Northam Platinum Holdings Limited is a South Africa-based company engaged in mining, refining, and marketing platinum group metals (PGMs), including platinum, palladium, rhodium, and gold. The company operates primarily in the Bushveld Complex in South Africa, known for its high concentration of PGMs. Northam's key activities involve mining ore, processing it to produce concentrate, and then refining the concentrate to produce precious metals. The company is recognized for its significant contributions to the global supply of PGMs, with a focus on sustainable and responsible mining practices.
JSE:NPHLong
by Sahle
1
$JSENPH - Northam Platinum: Will 9482 Hold? Hard To SaySee link below for previous analysis. The larger structure wave count for Northam is a bit tricky with a couple of probable counts. Looking at the decline from 21246 to 9482, I see a five wave decline with overlaps hence I am updating the count as a leading diagonal or alternatively an ending diagonal. A break below 9482 will confirm the leading diagonal which implies more downside. I do not have much conviction that a bottom is in at 9482 so I will sit on my hands for now.
JSE:NPH
by Loyiso_BlaqueSoros_Mpeta
1
Our opinion on the current state of NPHNortham (NPH) is a fully empowered platinum mining company which operates in the Bushveld complex. In the current difficult legislative environment where the 3rd mining charter is regarded as unfriendly from an investment point of view, Northam is probably the only mining house which is buying up new properties. It has come to an arrangement with Anglo American to exploit a property adjacent to its Zondereinde mine (the deepest platinum mine in South Africa). It has also bought Eland Platinum from Glencore for R175m which it intends to re-start at a cost of R2bn. On 29th October 2019, the company announced the acquisition of Maroelabult for R20m which is west of the Eland mine with an analogous ore body. This has accelerated the bringing to production of Eland and required very little capital. With the Eland mine, Northam got a concentrator plant which can process up to 250 000 tons a month. In return, Glencore got the right to market all of Northam's chrome. At the same time Northam has recently commissioned a new smelter to try to process its backlog of platinum ore which is estimated to be worth about R2,5bn. Zondereinde is a deep-level mine which has all the problems associated with mining at depth, while Booysendal is a shallow mechanised mine which is much easier to manage. Both mines are profitable, but the empowerment structure results in Northam always reporting a loss because of the preference dividend that must be paid. Once Booysendal is complete the company should generate strong cash flows. The appointment of Mcebisi Jonas (former South African Minister of Finance) and Jean Nel (previously CEO of Aquarius Platinum) as non-executive directors will significantly add to the strength of the board. The company has the stated intention of doubling its workforce as it strives to become a major PGM supplier in the world. With plans to increase production of PGM's over the next few years to 1 million ounces, this is probably one of the better options in the industry. In its results for the year to 30th June 2023 the company reported sales revenue up 16,1% and headline earnings per share (HEPS) down 7,5%. The company said, "The sale of Northam's investment in Royal Bafokeng Platinum Limited subsequent to 30 June 2023 has presented an opportunity for Northam to significantly strengthen the group’s balance sheet and liquidity position". Since then the company has also sold its Impala shares for R3,1bn. Northam's share price rose sharply on higher platinum group metals (PGM) prices during 2019, then fell in March 2020 due to the coronavirus pandemic. After that, it tracked up steadily reaching an all-time record high in April 2021. Since April 2021 there has been a steady decline in the share which has seen it fall back substantially. Despite this, we see a bright future for this company in the longer term, but it remains a volatile commodity share.
JSE:NPH
by PDSnetSA
NPH: further downside potential? A dip in price below 13900 provides evidence in favour of a bearish trend trajectory. This negative direction is further substantiated should a breakdown occur below the 13400 mark. A target price is set at 12000, with a stop-loss set firmly at 15100 to mitigate risk. A bearish MACD crossover is also applicable, reinforcing the negative forecast. In addition, the prevailing price action continues to follow a downward-sloping linear regression channel pattern, lending further credibility to the anticipated bearish trend.
JSE:NPHShort
by Peet_Serfontein
$JSENPH - Northam Platinum: Is A Bottom In At 11533?The last update on Northam was on 30.06.2023, link below. The stock traded a bit lower and caught a bid just above the lower trendline of the channel and then reversed aggressively from 11533, rallying over 30%. There has been key fundamental developments relating to Northam's interests in Royal Bafokeng Platinum also involving Impala Platinum. The market has responded positively to these developments. I am bullish above 11533 and buy the dips is the strategy.
JSE:NPHLong
by Loyiso_BlaqueSoros_Mpeta
NORTHAM PLAT - Close above key MAPrice has rallied well this week of the swing low of R115 and found support around the yearly S1 pivot. It has now closed above the down sloping 20ema. Bulls will need to defend R122.50 on any pullbacks to have an attempt at R137.50. A break above here could open the gate to a decent leg up towards the 200dma. Pivot points are a technical analysis indicator used to determine the overall trend of the market over different time frames. They are calculated based on the high, low, and closing prices of previous trading sessions. Pivot points are used by traders in equity and commodity exchanges to predict potential support and resistance levels for the current trading day
JSE:NPHLong
by Trader-Dan
$JSENPH - Northam Platinum: Approaching Key LevelsNortham is down 56% from its all time high. This bear market is over two years in the making and looks to be unfolding as a double zigzag. The first zigzag, ((W)) is much bigger in price and time than the current zigzag for ((Y)) which is not against the rules and guidelines. Focusing on ((Y)), the stock looks to be in the wave (C) which is approaching key price levels. Using Fibonacci extension guidelines, 11154 to 9397 represents the price zone where wave (C) is equal to and 1.236*greater than wave (A) and confluences with the lower support line of the channel. Short the rallies into this confluence zone.
JSE:NPHShort
by Loyiso_BlaqueSoros_Mpeta