Platinum Shuffle

I've got a day off today so am poring over the portfolio to see if there are any refinements I can make.

SLP:Sylvania Platinum has always been a frustrating share to own. It feels under-valued, but I'm not sure. The company is cash rich but has never hinted at paying a dividend, yet there are no signs of ambitious growth.

Compare that to JLP:Jubilee Platinum who have multiple projects about to generate healthy revenue, an asset worth billions and a new venture into Australian copper announced yesterday.

If I own shares in a platinum company, I want that to be Jubilee rather than Sylvania.

I sold my SLP:Sylvania Platinum shares for a £156.57 (27.7%) profit, added a teensy amount of cash from my current account, and purchased 17,540 shares in JLP:Jubilee Platinum at 5.65p costing £999.96.

Jubilee now constitutes 8.7% of my portfolio with a total of 127,846 shares. Despite the recent dip in performance, they are still my Star Share, with paper profit of £1,877.97, and at the moment there's great momentum only hampered by warrant sales. I think the main risk to long-term profitability is being taken over prematurely.

It's interesting to see my portfolio gradually consolidating as I weed out the companies that may have done well for me, but where I see an existing holding being a better option. I'm looking at several other shares I could sell, with a view to increasing my holdings in IQE:IQE and CWR:Ceres Power to 10% of the portfolio, but they are making too much of a loss for me to sell now.

There are also a few other shares I'm watching very closely.

ITM:ITM Power are gradually increasing their number of hydrogen fueling stations, and are receiving grants to do so. If public transport in cities switches to hydrogen powered electric fuel cells, then both ITM and Ceres could be significant players.

The other one I'm keeping an eye on is SXX:Sirius Minerals. After making 96.5% profit on my initial holding, the share price has halved so I could buy back in at about the rate I initially purchased. There's no doubt this one will do well long term, and it seems to be holding at the current price so may not drop much lower. A small investment will help me keep on top of news and be prepared to add more when it takes off.