Made a small investment in Sylvania Platinum (SLP.L) today at 82p per share. It will make up about 2.5% of my portfolio. They produce platinum group metals from mine tailings. They seem incredibly cheap - market cap about £210m vs profit last year of £35m, but with a whopping £100m cash on the books, and no debt.
If the price of platinum craters - e.g. because all cars go fully electric and we don't need to produce catalytic converters any longer - then they'll be in trouble. On the other hand, only 4 more years like last year and they've already got enough cash to justify the market cap. Is the electric car revolution really moving that fast?
