No news. Falling platinum prices. All looks like mm games to me. Recon we'll just come back down tomorrow. Fwiw I recon platinum prices won't properly recover until the EU gives up trying to fix Europe through austerity. In the meantime, the industry is going to have to continue closing pits and selling up to the Chinese for pennies on the pound.
Just when I bought this months stock allowance - the price goes up 7%... I timed that well & got in just in time. Then... the price of Plat falls by $ 20.00 USD... dont expect it to be in the blue by the morning... Still a cheap stock IMHO
Platinum producers launch trade body to attract asset investors. The world’s top platinum producers have joined forces to launch an industry promotional body on Tuesday in an effort to increase demand for the precious metal as an investment asset. The World Platinum Investment Council will be based in London and funded by Anglo American Platinum, Impala, Lonmin and three smaller mining companies.
Platinum Producers Plan to Polish Up Precious Metal Move Follows Sharp Fall in Platinum Prices in Recent Months LONDON--Six of the world’s major platinum producers have banded together to drum up interest in the precious metal as a financial investment.
The World Platinum Investment Council aims to develop an active investment market for platinum and make it easier for a “wide array of investors around the world” to invest in the precious metal, the group said in a statement.
The price of Plat and the Bond issue is keeping this low IMHO. I note the board have requested a further 1B shares to be available at the meeting later this month. I can only assume this could be used to cover the outstanding bond if they cant refinance. Not a huge amount of good news coming through. But, and this is only my take on this... we are the most mechanized Plat producer producing approx 350kper annum across the mines. The cost per oz produced inc stay in business investment is around $ 900.00 USD, that still means we are making approx $ 300.00 per oz produced or $105m per annum. With a market cap of $200m she is looking a little undervalued. Happy to have anyone point out any errors in my back of the fag packet equations... Oh and I like the fact the board are taking salaries in shares, they too are sharing our pain. I'll top up again later this week to bring the avg down. GLA
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