Valterra Platinum Limited (VALT) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone. We'll realize probably around 200,000 answers of PGMs. Leroy Mnguni, Leroy Mnguni which is completely different to everyone else in the industry. So we split base metals and PGMs because this local process post the converter plant and that creates an enabler for us that doesn't create any capacity constraints but a lot of optionality on how we run our PGM flow and our base metal flow. So to Craig's point there is no capacity constraints and Sunslot doesn't have and Impact, in fact, on a downstream processing capacity. There's lots of optionality in our flow sheet, as you can see from the results that Craig and Sayurie actually presented as well. Thanks. Thanks, Ajit. I think it looks like there's a couple of questions on the call. If we could please cover those. Thank you. First question comes from Kateko Matonzi of Investic Bank. Please go ahead. Good morning. Thank you for taking my call and congratulations on the good financial numbers. My question, I'm going to follow up from the question that Steven Friedman actually asked. Thank you very much. Thank you. Second half on metal in concentrates. Why are we still guiding at 3,000 to 4,000? Because essentially, if it's more even, we should be looking at 3.4 or even a little bit above. And a big congratulations to Agit. He continues to optimize that pipeline and squeeze that pipeline. Is there still more room for more inventory liquidation? That has continued to actually surprise me. And then second question, how are you thinking about buybacks as one of the methods of retaining value to shareholders? You have a very bullish outlook, at least for the next few years, if you look at your deficits, your metal deficits. Where your stock is trading right now, how are you thinking about potential buyb...