Member Info for minted1day

Got Ya

Wheres Jamie these days . Wasnt he into QPP i seem to remember him posting up that he kept adding there . Was it him ?

The number of Jobs is really irrelevant its the amount of shaft closures and the amount of platinum they stop mining that will determine sentiment . IMO

JOHANNESBURG (Reuters) - Anglo American's platinum arm, under pressure from South Africa's government, could announce a restructuring plan as early as Thursday that will sharply scale back job losses as it tries to balance out cost cuts and the threat of labour unrest. Anglo American Platinum had planned to slash 14,000 jobs and mothball two mines to pull back to profit but industry sources have told Reuters that the final plan would be pared back, with as few as 5,000 jobs cut.

Platinum appears poised to spike in coming weeks, as supply problems in South Africa continue to escalate. Often called "rich man's gold", platinum is one of the rarest metals in the world. This metal along with others from the platinum group have important industrial applications and hence their price is determined more by economic trends than by their safe haven status. Correlation between platinum and gold has been volatile, ranging from nearly 100% to negative, but has mostly been positive, averaging about 60%. This year, they have been trading close to each other; currently platinum is trading at a slight premium to gold. Apart from the improvement in broader global economic outlook, rising demand from auto-manufactures and supply problems in South Africa are pushing the platinum price up. The vast majority of the world's platinum demand is driven by auto-catalyst and jewelry production, which accounted for 39% and 31% total gross demand in 2011, respectively Read more: http://www.nasdaq.com/article/time-to-invest-in-platinum-etfs-etf-news-and-commentary-cm244614#ixzz2SiYKkIsT

Any thoughts on GKP @ £1.27 seems cheap but thought that last week lol Todds RNS selling hasnt helped it more to go down or wirth a punt in your humble ??

Lets hope Anglo come out with at least half the job cuts my call 7,000 job losses and 2 shafts closed

Well the Aussies carried it on overnight closed up 10% equates to about 47p so should see us on a blue start think we may be breaking out of that downward trend . Hopefully we will get a comment from Randy or Trades re the charts but they must be looking better after the last couple of trading days . Lets see if London can keep those gains . GLA Cov that 42p buy wont be looking to shabby at 8am my friend

The likelihood of strikes this May and June by workers in South Africa's strategic mining sector may curb output from the world's largest supplier of platinum, presenting an upside risk for the precious metal, analysts said. The catalyst for any upswing may come as early as this week when Anglo American Platinum (Amplats) - the world's top platinum producer and a unit of Anglo American - reveals the outcome of talks with the government and unions about restructuring plans that may involve cutting up to 14,000 jobs and mothballing two mines in South Africa http://www.cnbc.com/id/100709290

Well maybe just maybe that downward trend we have been in will get reversed hoping so !!!!

Just need AAL to come out with some decent numbers re the cut backs this week and we could be knocking on the door of 50p again . The SA Govt need to realise if companies are profitable its good for the economy taxes etc . You cant take much tax from loss making companies . They released their unemployment figures yesterday though and it rose to over 25% ouch

Nice chunky buy at just gone 9am 450k shares just shy of £200k in money terms and went through nearly a penny above the ask at the time . Good to see

Well nice night in Oz overnight equates to 43.5p and were closed today lets hope it holds those gains tonight for a nice blue Tuesday after the bank holiday enjoy peeps

Pathetic

Lol Viko is a beauty revervse tipster of iii lol

A GROWING number of Impala Platinum’s (Implats’) shafts are making losses, or barely scraping by, because of the weak platinum prices, and the company warned on Thursday it was assessing the viability of these shafts. This warning about the dire straits that the platinum sector finds itself in is the latest from a major platinum producer concerned about the effects of rising costs and weak metal prices. Implats, the world’s second-biggest platinum producer, said costs at its mines had ballooned by 23% to R15,957 per platinum ounce in the nine months to end-March 2013.

Decent come back today considering it closed overnight in Oz at around 38.8 . We need Booysendal for longevity and Everest but for once SA govt might have given us a blessing in dusguise as we should now be able to re negotiate better terms on the deal as the current deal has lapsed . Still my money is on a possible merger with Northam anyway and maybe todays news may push that a bit closer

Update on the sale of Booysendal South 2 May 2013 Northam confirms that the termination date for the fulfillment of certain of the conditions precedent to the implementation of the sale of Booysendal South to Aquarius Platinum (South Africa) Proprietary Limited, a subsidiary of Aquarius Platinum Limited ('Aquarius') expired on 30 April 2013. These conditions included the amendments of the relevant mining rights to effect the transfer of Booysendal South to Aquarius in terms of Section 102 of the Mineral and Petroleum Resources Development Act. Booysendal South is important to the development of Aquarius' Everest Mine. Accordingly, Northam has been advised by Aquarius that it will remain in contact with the Department of Mineral Resources and Northam in connection with the proposed transaction.

Aquarius Platinum Limited advises that the Sale Agreement concerning rights at Booysendal South entered into with Northam Platinum Limited and its subsidiaries has terminated. The condition precedent that Section 102 approval be granted by the Department of Mineral Resources prior to close of business on 30th April, 2013 had not been fulfilled.

In the context of the gold-price drop, other precious metals have also been affected, such as platinum and palladium. But palladium is attractive on a 12-month basis due to rising demand for catalyst production, as car sales are increasing in the US and China. For platinum, we also expect growing market demand.