Platinum Mining Of India Share Discussion Threads

[nickcduk] 31/1/2008 09:18

Closed the last of my short in PMCI out this morning at 11.5p. That pump and dump upto 40p had to be the short of the year last year. It was absolutely crazy. Still have no idea who or what triggered it but am just grateful that it occurred. About fairly priced around current levels imo.

[superdonkey] 31/1/2008 08:30

Platinum Mining looking at other platinum opportunities after Boula mine setback




LONDON (Thomson Financial) - Platinum Mining Corp of India PLC said that,
while the recent setback regarding the Boula mine is disappointing, it is
determined to maintain the right to mine there, and in the meantime will be
looking at other platinum opportunities and awaits the results from the drilling
campaign at Naboom in Souh Africa.
Last August, Platinum Mining was informed by its Boula joint venture partner
Ferro Alloys Corp Ltd (Facor) that the Indian federal authorities believed the
Boula mining site lay within a designated wildlife zone and ordered it to
terminate its mining activities at the site.
Platinum Mining said last week the court has granted a status-quo order
permitting Facor to "continue mining operations without hindrance" and was
optimistic a final court decision in favour of Facor would be reached.
With the group's strong cash resources and the backing of SUN Mining, the
company is well positioned to take advantage of other opportunities, Platinum
Mining said in today's statement.
Regarding trading for the 17 months ended Dec 31 2007, the company said it
has accrued no revenue in the period. Its cash position at Dec 31 was 9.29 mln
stg and the only source of income has been interest from the group's cash
balances amounting to some 679,000 stg.
Platinum Mining plans to release preliminary results for the 17 months
period by Feb 27.
[e-mail]
lam

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The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.

[superdonkey] 24/10/2007 17:03

Wakey Wakey everyone:

Platinum Mining to buy 20 pct stake in Majormatic for 1 mln usd




LONDON (Thomson Financial) - Platinum Mining Corp of India PLC (PMCI) said
it has agreed to buy a 20 pct stake in Majormatic167 Ltd for 1 mln usd which
will be re-invested in an exploration programme.
The company said Majormatic has been granted the prospecting rights over the
Naboom Platinum Deposit in South Africa. Majormatic will use the investment to
fund the first phase of exploration at this deposit which will start in
October/November.
If results from this exploration are sufficiently promising, the share
subscription agreement allows PMCI to increase its stake to 51 pct by investing
a further 3.5 mln usd in more extensive exploration.
The investment will will be funded by PMCI's own cash resources.
Chairman Philip Adeane said the investment will diversify the company's
asset base. It expects the initial exploration to be completed by the year end.

[superdonkey] 08/8/2007 11:41

nick,

Agree, bad news. I thought the Indian authorities were changing their attitude towards inward investment, obviously not. however, whats another year!!!

[nickcduk] 08/8/2007 11:34

Todays news is grim. Wouldn't be surprised if it goes back towards 15p again. Indian courts take a long time to work through and if they have to appeal against the environmental issue it could be at least another year of delays.

[golikethewind] 23/7/2007 13:58

Why such a large spread?

[superdonkey] 23/7/2007 10:36

Still life in this old dog...

[nickcduk] 20/7/2007 15:09

The shares would have to halve and then some for the director to lose money on his purchase. A statement is unlikely. I rang the company up earlier to be told the company secretary is on holiday for 2 weeks. I would imagine not a lot is likely to be going on with him off on holiday. The lady who I spoke to said she had no idea why the share price had gone up. No news was in the pipeline as far as she was aware. Im not sure what triggered the heavy buying this week but im waiting for a little burst higher before selling a few more.

[superdonkey] 20/7/2007 14:57

I agree that short term gains may be gained from going short with PMCI. However,
this is a very high risk strategy since nobody knows (except the mgt) how close we are to an annoucement being made. The evidence suggestes that something will happen sooner rather than later and i'll be surprised if the Director who purchased £50k worth of shares will lose money. Also, the company which owns most of the shares are massive ( Sun Corp.) and are used to making big returns on most of their deals. I think their MD gained his experience at Goldman Sachs. Watch this space. No advice intended DYOR.

[mikehardman] 20/7/2007 14:57

'bout time for an RNS along the lines of 'the directors notice the movement in the share price...', innit?!

[qs9] 20/7/2007 10:30

looks like we will see 40p before 20p again: closed short, now long!

[nickcduk] 20/7/2007 09:54

Opportunity was too attractive not to get back on board again. Short once more and ready to add if we get another spike.

[lewis winthorpe] 20/7/2007 09:07

Do some research into ACC while with some of your profits from here. Interims next week 12p fair value currently 6p.

LW.

[lewis winthorpe] 20/7/2007 09:07

Do some research into ACC while with some of your profits from here. Interims next week 12p fair value currently 6p.

LW.

[nickcduk] 19/7/2007 12:04

Glad to see the laws of gravity still hold true. Ive closed out my short now. It could go slightly lower but with such a wide spread its best to get out when there are plenty of sellers around. Good luck to those holding and I hope you get some good news in due course.

[qs9] 19/7/2007 09:17

15p soon....

[superdonkey] 18/7/2007 21:46

Time will tell...

[superdonkey] 18/7/2007 18:33

This stock is very illiquid, the owners own over 90% of the sahres therefore any small trades will obviously have a significant effect on the share price However, I revert back to my previous post, why would a 74 year old director spend £50k of his own money on these shares. Not rocket science, because he knows something is about to happen. Watch this space. No advice intdended, as i stated before i am in the dark, just an (un)educated guess.

[qs9] 18/7/2007 10:05

surely not to justify a move from 12p to an intra-day high of aruond 47p in 3 days?! 4X has produced a raft of sellers and heading back to 20p as I write.....perhaps PIs got carried away and chased it too hard for no reason????

[jon389] 18/7/2007 08:34

You think this share has rocketed for no reason? Some one knows something in my opinion.

[jon389] 18/7/2007 08:34

You think this share has rocketed for no reason? Some one knows something in my opinion.

[qs9] 18/7/2007 08:32

starting to fall now.....

[qs9] 18/7/2007 08:20

nickcduk I agree, no justification for rise or current market cap at all IMO, looking for

[nickcduk] 17/7/2007 11:56

Its surprising how even companies with this sort of market cap can be pumped as hard as it has been. I would expect it head back towards 20p over the coming weeks. I think you have to be certifiable to consider going long at current levels. Currently 32.5p to buy which is below 33.5p mid and offered in lots of 75k. Large sellers have woken up to the lunacy are trying to get rid of as much stock as they can at current levels.