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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Platmin | PPN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 17.25 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 17.25 | 17.25 |
| Top Posts |
|---|
Posted at 03/10/2011 14:01 by topinfo DJ Platmin Limited Cancellation of AIM Listing TIDMPPN RNS Number : 4275P Platmin Limited 03 October 2011 CANCELLATION OF aim LISTING ON November 1, 2011 October 3, 2011, TORONTO: Platmin Limited ("Platmin" or "the Company"; TSX/AIM: PPN; JSE: PLN) announces the cancellation of the trading of its common shares on the Alternative Investment Market ("AIM") of the London Stock Exchange, to take effect from 7:00 a.m. (GMT) on Tuesday, November 1,2011 (the "Cancellation Date"). Platmin's board of directors has decided that it is not justified for a company of Platmin's size and with such relatively low trading volumes to maintain three stock exchange listings. Following the cancellation of the AIM listing, Platmin will be listed on the Toronto Stock Exchange ("TSX") and the Johannesburg Stock Exchange ("JSE"); as a result, shareholder consent for the cancellation of the AIM listing is not required under the AIM Rules for Companies. Prior to November 1, 2011, shareholders may continue to trade their securities on AIM. On or after November 1, 2011, shareholders may continue to hold their securities electronically in CREST. If shareholders wish to trade their securities after November 1, 2011, their CREST nominee would need to do so on the TSX/Canada and/or JSE/South Africa. The securities may be moved from CREST to Canada by the UK nominee instructing CREST to deliver the securities to a CDS nominee (Canadian Depositary for Securities). Once shares are in CDS, they may be moved to South Africa, for trading on the JSE via a Register Removal Request instructing Computershare Canada to remove the shares from the Canadian share register onto the South African share register for re-issuance into STRATE (South African CSD). About Platmin Platmin explores for and develops and operates platinum group metals (PGM) deposits in South Africa. The company's principal current focus is the Pilanesberg Platinum Mine, which is building up to full production. In addition, it holds platinum interests on the eastern limb of the Bushveld Complex. Platinum's long term goal is to become a significant producer of PGMs. For further information: Charmane Russell Russell & Associates +27 11 880 3924 |
Posted at 02/2/2010 17:25 by the metal man Not sure about the Lonmin stake, I thought it was diluted down to 6% or so, after Pallinghurst ploughed money into PPN. To try and understand Pallinghurst's intentions you have to get to know about them. They are essentially an investment vehicle that aims to buy up stakes in mainly resource companies with growth potential or, even distressed assets with potential. They might actually be quoted on the JSE and are on the Bermuda exchange. I think they started off with an issue of 169,316 shares at $1000 each with an initial subscription requirement of $300,000. They have stakes in other Aim listed companies, Tanzanite One, Gemfields and also the ASX listed Jupiter Mines. Brian Gilbertson is a dealmaker and was responsible for bringing Billiton to market in 2001 and merging it with BHP. He even tried to merge the new BHP Billiton with Rio Tinto (which has been attempted again recently by the current board). He brought Vedanta, which was an Indian mining company, to the LSE in 2003. He does have other interests as do Pallinghurst. Therefore, I don't think there is any question of PPN being sold off unless there is maximum leverage, which means organic and acquisitive growth. Just my opinion. |
Posted at 02/2/2010 09:41 by the metal man PPN would certainly look attractive to a bidder, however, Pallinghurst hold all of the cards here and the BEE partner at Pilanesberg is the same as at their Magazynskraal project. Soon the BEE partner will exchange their holding in Pilanesberg for a direct holding in PPN, giving PPN a 100% stake in the project. |
Posted at 27/1/2010 21:41 by the metal man PillionI agree, although it's usually a bit slower to react so it's easier to pick up the trend by watching the others, IMO. tiger60 Not optimism, just facts. Let's see where platinum is in April along with PPN. I'm also happy to use market volatility to my advantage whether it's PPN or not. Where investing is concerned, there's no room for sentiment. Those holding for the long term should be rewarded, all IMO, DYOR. |
Posted at 23/1/2010 21:15 by pillion I've followed PPN for yonks but not boughtThe spread is wide Lonmin & Xstrata weekly chart -- so similar -- much smaller spread than peepee-en free stock charts from www.advfn.com |
Posted at 23/1/2010 21:04 by tiger60 'Although western economies are still somewhat jittery it is not so with China'I admire your optimism - China is the next bubble and even they can see it with last weeks request to demand increased capitlisation of their banks balance sheets. Property prices are growing too fast and inflation is a matter of time. Strengthening the Yuan is a formality against the dollar (next month) but too late. And although inflation is not necessarily bad for the plats, sentiment will be knocked worldwide as the one remaining hope disappears... But like all bubbles they go on a lot longer than they should. Ride Plat stocks til April then ditch them all and lock the door...only my opinion but happy to discuss in April/May. I am in and out of PPN at the moment but any retreat Monday I am back (at least for a couple of months)... |
Posted at 14/1/2010 17:50 by the metal man I agree about the throughput as we expected 30-40k oz this quarter, to put us on target for the 160k oz pa. They say that will not now be achieved until year end 2010, with 250k oz pa at the end of year 2011. Where that leaves the peak 290k oz pa, who knows. They have given some reasons for the delay, such as the recent strike and lower than expected grades.As regards raising more finance it is a two part explanation. Firstly, because of the above the cash flow will not be as high as expected but also the costs of running the operation were higher. They will also have to alter the running of the mine to access the higher grades. The intriguing part is the second, and the statement makes reference to both. "The delay of approximately one year in achieving full capacity and anticipated corporate activities in a consolidating industry will require additional funds". That to me intimates at an acquisition. It could also be reference to the statement which says they will be creating a new division exclusively for exploration and development initiatives. Both of the statements require more clarity IMO, in particular the second one. If the fund raising eludes to a 'new division' or not, is said division to work for the benefit of PPN? It's first task as an 'exclusively exploration and development division' would be to carry out a BFS on a prospective 20m oz Pallinghurst owned project. Is this Pallinghurst using PPN as a vehicle to raise cash to carry out the BFS or, will it be an earn in arrangement on pretty much the same basis? Either way there should be more on Mphahlele as PPN's next priority in terms of 'development' and use of funds because that is where the near term production is. PPN is 51% owned by Pallinghurst hence such a proposal requires absolute clarity and so far, they have not proved to be proactive as far as investors are concerned. They are answerable to minority shareholders afterall. |
Posted at 12/1/2010 18:11 by the metal man The latest quarterlies on production output should easily equate to 35 - 40k oz throughput on an attributable basis, disappointing if not as we should soon be up to 62.5oz attributable (when BEE assets become part of PPN via equity). I'm guessing the gross margin will be around the $400 oz mark. Working on January's pgm prices alone, the current margin should be around $500 - $550 oz using historic prices as a median for the current basket price. Great if the current pgm prices can be maintained or, improved upon. Either way, although not by any means the lowest cost producer, PPN probably is when compared to peers with a 200k oz pa + production profile. |
Posted at 12/1/2010 11:50 by orgasmicbeef Pt broken thru 1600USD$, so yes, I agree, the portens very positive all round, but PPN has a long way to go before getting back to a reasonable price level? If production getting throughput up to 35-40k ozs/ qtr then annual results could give a better picture in medium term? Margin about 400-500/oz? |
Posted at 04/1/2010 19:54 by the metal man bulldog 30Unfortunately any purchase that keeps the individual holding below 5% does not have to be declared. That said, I can understand your thoughts on the lack of news flow. However, we do know that the PPN interest in Pilanesberg will soon be 100% when the BEE partner Moepi swap their 26% for PPN shares. We also know that production is being ramped up to 250k oz pa. Also, the year end has changed to end of December as of 31/12/2009. Perhaps there will be nothing more to report until the next quarterlies but, I would agree that we should have some update on progress. Given the current Pt price, projected figures and the movement in price of some of it's peers, PPN is looking very cheap if we are to assume that everything is on track. |
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