Volume is well above the average, but non of the trades look like institutional buying. Looks like there may be good news out there. Lets hope the momentum continues throughout the rest of the day. I will be interested to see what the NAV for SLP will be when the quater results are in. I suspect that they will be better than expected in a 'bombed out' sector.
At this rate the MC of the company will be worth the same as what they valued the iron ore side of the business last year. MRP is right. Defies logic. Spot price of platinum has fallen, but it is still a precious metal. The large producers will limit the amount being mined for production so it does not exceed demand. The market, particularly AIM on prices in the here and now. We need the quarterly results to confirm the company is still keeping their extraction costs down and an update on the MRG deal.
The price of platinum has been falling again of late so that can't help but you have to wonder how much lower this can go. I'm also awaiting the trading update in the hope it will provide a bit of support. Longer term we need to see a solution to the over supply problem. Disappointing to read comments from Aquarius last week that they felt others in the industry weren't acting to address this issue as they had.
Down again today... MM's allowed to drop the bid to 12.50 with no buying pressure whatsoever. Well, just over two weeks away from the completion of the IO disposal to be tied up. We should also receive a quarterly update to 30th June in the next couple of weeks too. Lets hope we get some positive news!
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