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Platmin Share Discussion Threads
Showing 226 to 248 of 250 messages
|DJ Platmin Limited Cancellation of AIM Listing
RNS Number : 4275P
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).
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|
|Seems logical... america sinking faster than a lead titanic THUS sell platinum miner.
I see car sales have increased again in China, SAfrica and India.
Not as if the world needs platinum... oil... a f clue... more cheese... americans that can do joined-up-thinking, one supposes!!!
I must admit to noticing platmin has a deep and abiding temptation sidling her seductive way toward my seated form in her figure-hugging shiny neglige!
greg the grinch
|No advice intended|
|taken from recent results,
For the twelve months ended December 31, 2010 the Group incurred a loss of US$65.442 million and as at December 31, 2010 had an accumulated deficit of US$90.419 million. The Group is dependent on the successful completion of the Pilanesberg Platinum Mines ("PPM") to generate cash flows in order to fund its operations and pay debt as it becomes due. Such circumstances may cast signifcant doubt as to the ability of the Group to meet its obligations as they become due and accordingly the appropriateness of the use of the accounting principles applicable to a going concern.
of less concern is the i "left out of significant|
Too many conflicts of interests here and weak management in my view.
Best outcome would be a take out at around £1. This was a $10 stock once and we are in the middle of one of the greatest booms in metals ever ! Enough said !!|
|I have my 1st tranche
Seems like a good recovery play...1st nibble.|
greg the grinch
Just look at the price of platinum and palladium over the past couple of months.I look forward to mid November for an update on progress at the mine. That would be the September Qtr.|
|I know I am talking to myself on this board but 61 looks an incredible entry point. THis will recover and quickly.|
All in the public domain but basically Scarborough Minerals (AIM Robert de Crespigny) and Mineral Securities (KL) merged to form company with large number of projects worldwide. MineralSecs had debt with Macquarie Bank. Next move was Copperco (KL and also debt with Macquarie Bank) acquired Minsecs.
Combined debt then rather large and Macquarie bankers got nervous and would not extend loan to Copperco group hence administration and liquidation looming until Cape Lambert bought the Macquarie debt and became the "liquidator" and seems to done incredibly well in the process !!
Whilst all this was going on KL was fiddling around with Platmin and no more needs to be said on that subject except that the shares traded over C$10 per share in July 2008 ? before he handed control over to Pallinghurst (Brian Gilbertson) at an 88% discount a few months later.
Strange but true.|
|Bulldog..........Interested in your views on Keith Liddell,Copper Co etc.|
|June quarter actually released yesterday pm. The company has outlined reasons why pgm production was below expectations mainly due to items outside its control such as adverse weather conditions in April and problems at the refinery. Hope that they get back on track in the September quarter.
Made positive noises re FY2011 which looks very positive if the price of platinum stays above $1500 per ounce.|
|Just checked that the last quarterly report was issued on 14th May (March Quarter) so would expect the June Quarterly to be issued on Friday or Monday ?
It will be interesting to see what the new CEO has to say.|
|time to enter? Cad 1 - looks like this may be bottom - worth a shot.|
|Heard on the grapevine that six directors/senior management turned up for the AGM and apart from Pallinghurst the interest in London was so high that only 2 other shareholders made an appearance. Farcical.|
|Sadly amongst the BOD is one Keith Liddell who screwed up a lot of shareholders in Scarborough Minerals , Mineral Securities and Copperco.
BIG NEGATIVE FACTOR|
|I'm still here - sadly! Plat up to 1700 US$ plus other PGM's sky rocketing in price and on course for 250,000 ozs in 6-9 months, what is holding down the share price? Why do they need to raise further finance? Diluting everyone including Pallinghurst. Should achieve high positive cash flow very soon, cannot understand this stock anymore. Should be getting to 3$ Can. but stuck in a rut. Perplexed I am. IMO etc|
|Anyone left here?
Although slowly going in the right direction other shares are eclipsing the marginal gains here - Is there reason to hope for better things in the short term mindful of the present climate in SA?|
|Cant see Pallinghurst giving up any of Platmin soon.
Too much upside yet to be appriciated.
With 3 other projects yet to be started and with PGMs on the rise, theres more money to be made in keeping the project than in selling.|
|I would agree that Platinum demand should underpin the price in these volatile markets. Any undue pullback due to market sentiment would soon be corrected by the bigger picture.|
the metal man
Yes of course, the dilution was high. You're correct. My thinking is if Pall was offered a good price they would give up control. Thanks the further info. Useful. Platinum will be in short supply I believe the end of this year and onwards. IMO.|
|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.|
the metal man