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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 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 07/7/2009 13:19 by macca42 perhaps making keith liddell Executive Chairman a few of weeks ago did not excite the investors,you only have to look at some of the other companies he was involved in that went out of business, |
Posted at 12/5/2009 10:33 by the metal man SaffyI don't mean to be disrespectful and I know there are plenty of other PPN investors who will no doubt read the board. I am merely comparing it to other boards such as RDG, AQP and PLAA where contributions with opinions and up to date information are almost daily. There can be weeks in between postings here, that is not necassarily a fault but, it can be described as 'poor' if you compare. I would not want you to feel offended as I know you are one of the main contributors here and apologise to you if I have done so. |
Posted at 05/5/2009 15:32 by safman spread has been a problem on PPN. Either it stops investors from buying or selling. More perhaps the case of MMs milking it n the spread. PPN certainly part of my commodity port. saffy.. |
Posted at 19/4/2009 13:32 by alfodd As a newbie and potential investor - like the story,but can you tell me why there always seems to be such a huge price spread. Can't fathom why such a spread. Any help appreciated. Thanks |
Posted at 02/4/2009 12:14 by the metal man laserI believe this stock is extremely cheap. The problem from the Aim perspective is the spread and volatility. I am sure it puts potential investors off. |
Posted at 19/2/2009 15:14 by raylecouteur I have also bought a few here ..... the price has come down so far. Before Christmas they were seriously running out of money. They have now been refinanced to the tune of $175million and when all the shares have been allocated have a market capitation of around £100 million at 30p(amazingly, less than the investment).They have huge reserves (>14 million oz PGM? This really attracts me as it is value in the ground.)and are about to commence production with the aim of 250,000oz Pt per annum by the end of this year (for 16 years) at a price of $400 per oz Pt which means they should still be in profit if Pt price drops 40%. No-one seems to have noticed the refinancing .... they seem to be priced as if they could go under. Unlike Ridge they are unlikely to be taken out cheaply due to the high % owned by the new investors. Downside ........ complicated share structure (I think the above is correct) and Jacob Zuma as new SA president. |
Posted at 30/11/2007 11:30 by hoylek Proactiveinvestors.cPlatmin South Africa's next independent PGM producer. True or False? By David Rowland Article Date: 30-11-2007 Additional: Information Market: AIM Sector: Mining News: Latest Market Data: Additional Charts Web Site: platmin.com # Other Articles: 30-11-2007 Platmin claims that it will be South Africa's next independent PGM producer. It is well placed to be the next producer but will it manage to stay independent? "South Africa's next independent PGM producer" is the title Platmin gave to its last corporate presentation just a couple of months ago at the Africa Down Under conference. That's an attention-grabbing assertion; you might even call it flirtatious. Yet Platmin seems to attract a remarkably low level of interest from private investors both in Canada and the UK, certainly if silent bulletin boards are anything to go by. This odd mismatch begs for closer inspection. |
Posted at 21/8/2006 10:07 by cpurser Platmin Limited is a platinum exploration and mining company operating in South Africa. Through its South African subsidiary Boynton Investments Pty Ltd, Platmin owns a portfolio of platinum group metals (PGM) projects in the key platinum-producing area of South Africa - the Bushveld Complex, the source of 75% of the world's annual platinum supply.Peter Ruxton, CDC Capital Partners' mining specialist, commented: "We are delighted to be supporting the Platmin team in its expansion plans and to increase our investment exposure to platinum, at a time when demand is forecast to outstrip supply on the back of strong jewellery and autocatalyst demand, driven by ever tightening emission control legislation to reduce global vehicle exhaust pollution. "Platmin has an extensive knowledge of the South African PGM industry and geology to add to their excellent ground position within the Bushveld Complex. Their highly experienced and committed management team have moved quickly to address the key issue of black empowerment involvement required by the new South African mining legislation. This injection of new capital will enable Platmin to fast track evaluation drilling and feasibility studies on their more advanced projects, prior to a planned listing in 2004." Four Key Project areas make up Platmin's primary mineral properties. These are the Pilanesberg, Grootboom, Loskop, M'Phatlele and other minor projects. These properties are located on the Bushveld Complex in north-central South Africa which hosts more than half of the world's known PGMs, and more than 90% of the world's platinum resources. The flagship project, Pilanesberg, is located on the Western Limb of the Bushveld Complex and approximately 60km to the northwest of the city of Rustenburg , which is the major centre for the platinum mining industry in the surrounding area. By March 2007, the management's development plan envisages delivery of a feasibility study on the Pilanesberg Project while progressing exploration, resource delineation and feasibility work on the other Key Projects. The Pilanesberg Project hosts significant PGM mineralisation over a strike length of approximately 20km. The mineralised reef package, which outcrops at surface, typically comprises the Merensky Reef, Pseduo Reefs and UG2 Reef. The vertical distance between the top and bottom horizons of the reef package varies between 20m and 30m where the sequence is fully developed. Importantly, the Merensky Reef to UG2 Reef interval in the Pilansberg area differs markedly from elsewhere in the Bushveld Complex where this interval may be separated by well over 100m (eg Western Limb from Impala Platinum Mines to Brits and most of the Eastern Bushveld). This close alignment of the reefs at Pilansberg means that open pit mining can recover both reefs concurrently. The Grootboom Project is situated 5km southwest of the town of Steelpoort in the Mpumalanga Province. The Loskop Project is located some 60km north of Witbank and Middelburg. Witbank is a long standing centre of mining activities. The project is currently subject to a joint venture with Lonmin plc. An initial resource estimate is targeted for 2006. The M'Phatlele Project is located approximately 50km south east of Polokwane, the capital city of the Limpopo province. The project is adjacent to the operating Messina mine recently acquired by Lonmin plc. The M'Phatlele Project hosts significant PGM mineralisation over a strike length of up to 8km typically comprising the UG2 and Merensky reefs dip at approximately 50 degrees to the south. The deposit outcrops near surface with the mineralised horizon known to extend to 2,000m and below. Platmin has reported a total JORC resource of 21.7 million platinum group metal ounces (platinum, palladium, rhodium, plus gold "3PGE+gold") contained on the projects. The PGM resource that is directly attributable to Platmin is 13.7 million ounces. Importantly, all of Platmin's projects at Pilanesberg, M'Phatlele, Loskop and Grootboom have the main target mineralisation outcropping at surface. Platmin's attributable resource is 13.72 million oz at 4.4 g/t (3PGE+Au) clients.westminster- Posted: '02-FEB-07 14:19' GMT © Mineweb 1997-2006 BUSHVELD COMPLEX (Mineweb.com) Junior Platinum Group Metals (PGM) miner Platmin aims to become a mid-tier producer as its primary project - Pilanesberg - advances to bankable feasibility stage and exploration efforts are now focused on its promising M'Phatele undertaking on the north-eastern limb of the Bushveld complex. Ian Watson, chief executive officer of the company listed on both the TSX and AIM markets, said, during a site visit to the M'Phatele project, the company would grow into an organisation that would offer investors similar returns to Aquarius Platinum. Platmin is now accelerating the development of its "good resources" (3.3 million ounces measured and indicated) in order to generate cash flow and returns on investment as soon as possible. This comes as the company completed its dual listings last year and recently finalised the required black economic empowerment (BEE) shareholding. Watson alluded to the fact that Platmin experienced some difficulty with finding a suitable BEE partner, as the company sought a shareholder that would remain committed to the company up to production. He said the M'Phatele project had a number of attributes, such as clear, consistent Merensky and UG2 reefs, which implies that the ore bodies can be processed with one plant. This reduced capital expenditure and enabled the use of economies of scale. The resources that run along parallel strikes of 8 kilometres on its property are shallow and will be mined with two declines from between 30 metres and 500 metres underground. The grade of the current resource is 4.5 g/t for 4PGE and gold. Watson emphasised that this would result in earlier production at M'Phatele as vertical shaft construction could take several years on a deep mined project. "We believe we can mine as deep as 500 metres with declines," he said. Platmin plans to start production at M'Phatele in July 2010, while its Pilanesberg project on the western limb of the Bushveld is currently undergoing a bankable feasibility study and is expected to start production in 2008. Platmin has the benefit of owning its own offtake, while some juniors are obliged to give their offtake to the majors. "We are free to smelt ourselves and have a choice of offtake arrangements," Watson added. The company's potential production is sufficient to warrant the building of its own smelter on the eastern limb, but it is currently talking to Northam Platinum about sharing and pooling facilities. Northam does currently have extra smelting capacity. Platmin has started a pre-feasibility study on M'Phatele to ultimately upgrade inferred resources of 87.9 million tonnes from inferred to measured and indicated. A mine here would produce 260,000 ounces of 3PGE and gold and have a life of 18 years, according to its scoping programme. Challenges that "a determined Platmin team" will face in realising its plans, include a steep dip of between 3 and 50 degrees on the M'Phatele reefs that could make for more difficult mining. The availability of water is also a problem in the region, but the company has currently secured "expensive" supply from a nearby developing water scheme, while it is drilling for water. A London-based fund manager said he was confident that the M'Phatele project would succeed as the project had many attributes and the company could easily employ the right mining methods to exploit the steep dip of the reefs. A second investor on site said that "everybody was now interested in PGMs as the future of platinum is 'light'". Platmin will go to the market to raise money for the development of M'Phatele in October this year. The company also has exploration and drilling activity underway at two additional projects on the eastern limb, namely Loskop and Grootboom. -------------------- Estimates a 2008 P/E of 9; here's the headnote: "Platmin, a company recently floated on Toronto and AIM has ambitious plans to become a significant producer of platinum within four years. Senior management have done it before can they do it again? 1: The stock is trading at a significant discount to other platinum producers. The pricing discount is somewhat offset by the early stage development nature of the company. 2: Partially mitigating development risk is the plan for a relatively simple, open pit mine at Pilanesberg. The GMR model suggests it is the key project within the Platmin stable of developments. 3: On balance, GMR considers potential reward to outweigh risk and initiates coverage with a BUY." |
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