Plastics Capital Share Discussion Threads

[maximoney1] 15/11/2006 20:18

Ash, i'm still getting to grips with EW, thought the following might be plausable counts, what d'ya think???

maxi :-)

[mr ashley james] 15/11/2006 18:58

Yikyak,

I am now predicting a minimum Platinum price of US$2,409.00 to US$3,709.00 by 21st December 2012 BTW

All IMHO, NAG, DYOR etc

Cheers

Ash:)

[yikyak] 15/11/2006 16:34

Back-test completed. Expecting a boost soon as Lewins is spending the week doing presentations.


free stock charts from ADVFN.COM

[mr ashley james] 15/11/2006 14:37

Jules/Charlie, reckon revised NPV of AU$1.40 to AU$1.55 on ASX:PLA is going to come in AU$1.81 to AU$2.05 at current PGM Prices easily.

With production costs circa US$210 to US$225 per toz, say composite US$225 to be on safe side, versus a Basket PGM Price increasing from say US$790 per toz to US$900 toz on KALPLATS versus US$210 per toz operating cost, or say a Basket PGM Price of US$1,117 rising to US$1,225 on Smokey Hills versus US$225 operating costs, the increase of say US$110 per toz should increase your Gross Profit from say US$580 per toz to US$690 per toz ie by 18.96% on KALPLATS and your Gross profit from US$892 to US$1,000 on Smokey Hills ie by 12.11%, because of the relative production targets, ie KALPLATS 280,000 toz pa versus Smokey Hills 95,000 toz pa out of overall 415,000 toz pa including Panton you are probably going to end up around 17.23% to 17.50% increase in a discounted NPV at these type levels of PGM Basket prices discounted at 7.50%

Suddenly an NPV of AU$1.40 to AU$1.55 should become AU$1.65 to AU$1.82

As I expect Platinum Miners to trade at valuations above NPV, and to trade on PER Ratios from 30 to 60 x in bull markets, and as the value of the underlying assets in the ground also increase my EW Targets I think short term of AU$1.81 to AU$2.05 short term is very likely.

If I am right about KALPLATS 72,399,000 toz PGE for example at US$900 basket price and using average 11.40% Valuation in the ground, I am going to be very close to US$7,428,137,400 100% Valuation ASX:PLA have 50% approx with ARM 50% approx

Big numbers indeed, and when the Reserves/resources are delineated along a 50km strike Massive Upside IMHO.

All IMHO, NAG, DYOR etc

Cheers

Ash:)

[mr ashley james] 15/11/2006 13:05

Feature Story Date: November 03, 2006

Listen To The Oracles Of The Outback: Forget The Sage Of Omaha.

By Our Man In Oz

"The boom goes on... The boom ends tomorrow ... The boom goes on ... The boom ends .... ever had the feeling that you've played a game like that some time in your youth. Back then it was usually done by plucking petals off a daisy, accompanied to the words of: "she loves me, she loves me not." Today, the science of selection has not advanced far, only the question has changed, though no-one really knows the answer to the boom-continuing question. But, to assist investors suffering an uncertainty attack, Minesite thought it time to consult a pair of Aussie oracles who continue to place big bets on the mining sector, largely because they sit at the epicentre of the boom, and suffer all its privations – such as struggling the find a table for lunch, or a car park in boom-central, the Western Australian capital, Perth.

Mark Creasy, Australia's richest prospector (but secretly an Englishman to his bootstraps), is in no doubt. "It continues," is his succinct summation to the question of the future of the boom. "Three billion Asians want the same lifestyle that we've got, and they can't be wrong." Creasy's optimism is backed by a private gold and base metals prospecting business estimated to absorb A$4 million of his fortune annually, plus a share portfolio which the last time it was searched covered a three-page print out and consisted almost entirely of small-to-medium mining and exploration stocks, much like a punter at Ascot betting on the field. More about Creasy's portfolio later, but first the second oracle.

Clive Donner (secretly a South African to his strap of biltong) runs the Linq Resources investment fund, which is essentially the re-badged Rothschild Golden Arrow fund. Donner too is an optimist, though without the verbal flare that Creasy brings to the job of predicting the future. "A lot of what we're seeing is supply driven," he says. "Stockpiles in some commodities are virtually non-existent, and when you factor in continuing global growth it's hard to see supply catching up with demand in the short term." Donner says it really doesn't matter how many small mines are started they will be "a drop in the bucket" of demand. "The high level of demand we're seeing is not a one-off wonder."

Linq's investment portfolio, unlike Creasy's, is a public document, though there is a time factor at work which means that what you see reported today might not be what the fund holds tomorrow. But, even given that Donner can buy and sell as he pleases it is worth noting that in the September quarter he was a buyer of shares in freshly-floated South African-focused Platmin, and a participant in the A$18.7 million raising by emerging north-west Australian gold producer, Wedgetail Exploration. The top three holdings at September 30 were Queensland copper stock, CopperCo, in which Linq had a holding valued at A$28.9 million, or 16 per cent of its portfolio, followed by Wedgetail (A$17.1 million, 9.5 per cent), and the southern African coal producer, Riversdale Mining ($A13.9 million, 7.7 per cent). Other big holdings were in Oilex, Elkedra Diamonds, Independence Group and China Gold Mines. Of the future, Donner said he remained a buyer, more than a seller. "Sustained high demand and critically low LME stockpiles continue to drive prices."

Creasy, who is understood to be an investor in Donner's Linq fund, has a much more eclectic range of interests as shown in a search of his holdings earlier this year. Investments, either held personally or through his company, Yandal Investments, were spread across more than 30 mining companies, with big positions in Lion Selection, De Grey Mining, Apex Minerals, Regis Resources, Platinum Australia, Tanami Gold, Albidon Investments, Dominion Mining, Dioro Exploration and Helix Resources. Not everyone is a winner, even Creasy was a holder of Croesus Mining when it went belly-up with his stake listed as 24.5 million shares, once worth a lot but now worth a lot less.

The man himself rides the bumps. In a wide-ranging conversation with Minesite he described himself as an optimist, and questioned whether the market, in its many forms, had reached a peak. "There are a number of peaks to consider," he said. "There's the peak of production, the peak of the stock market, and the peak of commodity prices. I don't think we've reached the peak of any of them. We're nowhere near the peak of production, that's decades in the future simply because of demand from Asia. In terms of share and commodity prices, I don't think either is anywhere near the peak."

Creasy, a mining engineering graduate from the Royal School of Mines who "escaped" to Australia in the late 1960s, said there was no doubt that capacity was rising in a number of commodities. "You've only got to look at iron ore production coming out of Australia and Brazil," he said. "That's a good example of how production of bulk commodities in particular is rising. But it's a very different picture in the base metals. There is a big difference between the bulks and metals such as nickel, copper and zinc. In the bulks there was a huge amount of excess capacity in the known ore deposits. That's not the case in the base metals. There is no spare capacity in the known deposits, we have to find new deposits, and bring them on stream."

It's the challenge of developing new mines, butting headlong into Asian demand, which gets Creasy most animated. "It's just amazing to think that Western Mining Corporation, in the 1960s, discovered and developed the Kambalda nickel project in just over 18 months," he said. "In iron ore it was a similar story with exports from Mt Tom Price in the north of Western Australia taking little more than two years from a start on development to first shipments. We simply can't do that today. Just to get through native title claims takes 12 months, if you're lucky, then come environmental approvals, and it's the same story in Canada and the U.S."

What makes the shared view of Donner and Creasy about the outlook for resource to interesting is that they fall into the bleeding obvious category. There is something terribly simple about their assessments. The stockpiles are low (we know that!), Asian demand is high (we know that too), new mines are hard to find and slow to develop (ditto), therefore it will take years to close the gap between supply and demand. If only getting an answer to the rest of life was an easy as plucking those petals!

[mr ashley james] 15/11/2006 02:53

Charlie,

Platinum and Palladium Charts looking very strong again IMHO ie Pennants, Ending Diagonals and Engulfing Formations.

My gut feeling is Platinum could go to US$1,351 and Palladium to US$359 or US$386 on next surge, which could happen pretty quickly.

Here's to believing!

All IMHO, NAG, DYOR etc

Cheers

Ash:)

[mr ashley james] 14/11/2006 20:48

Jules,

Eagle Research calculated Net Prevent Value at 7.50% Discount Rate at AU$1.40 to AU$1.55, obviously since the release date 24th October 2006 Platinum Price has gone up from US$1,052 to high recently of US$1,237 ish per toz a US$185 per toz or 17.59% Jump meaning the NPV will have gone up massively IMHO.



I am going to be redoing my numbers using 167,102,170 shares in issue per recent Anglo Pacific Plc LSE:APF RNS and correctly working out exact Net Present Value on this number plus options.

The Basket Price I will be using is going to be based on Smokey Hill exact model I have recent valuation putting 4 PGE Basket price at US$1,117 per toz Valuing Smokey Hills NPV at US$200m to US$247m at October prices before recent PGM Price increases for a 95,000 toz pa PGM Operation.

The Really big Value in ASX:PLA is going to be in KALPLATS Projected 280,000 toz pa PGM Mine Capital Cost estimate US$110m and est operating costs est US$210 per toz October Basket price circa US$790 per toz

Remember KALPLATS strike extends over an additional 38km at least so as I said I believe this deposit is enormous, I reckon circa 50km long by 20 metre wide orebody at 3 g/t openpitable to 250 metres with lowish strip ratio.

For example 50,000 metres by 20 metres by 250 metres would be 250,000,000 cubic metres, each cubic metre is normally circa 1 M3=3 Mt so circa 750,000,000 Mt at 3 g/t say 2,250,000,000 grammes ie 72,339,126 toz PGE

An enormous Global deposit if so.

Panton is circa 40,000 toz pa to add on

We are going to have Smokey Hills producing 2007, and in full production as will Panton by 2008 forecast, with KAPLATS coming in 2009.

By then I am expecting ASX:PLA to be producing with JV partners 415,000 toz pa PGM (95k, plus 280k, plus 40k).

My 100% Valuations at say US$5,000 per toz of production is likely to be US$2,075,000,000 for 100% of these projects, although the enormity of size of KALPLATS Resources by then is likely to make me exceed those numbers when Resource delineated over 50km strike.

As soon as ASX:PLA breaks AU$1.51 we are away.

Backtest of previous Resistance now support AU$1.155 to AU$1.16 completed last night ie Wave I height so now we should take off again.

I think we can safely conclude ASX:PLA will be taken out by one of the Majors to get KALPLATS by 2009 anyway at multiples of the current levels.

All IMHO, NAG, DYOR etc

Cheers

Ash:)

[mr ashley james] 14/11/2006 03:24

Jules,

Wave A of B 55c to 105c Length 50c C of B start 82c at equality 132c exceeded 137.50c

Impulse point 138.20% of A ie 69.10c at 151.10c

When that broken we should have big climber IMHO

All IMHO, NAG, DYOR etc

Cheers

Ash:)

[mr ashley james] 13/11/2006 03:01

Jules,

IMHO AU$1.81 next stop we are I think about to see the Perth/Sydney/Melbourne Institutions that could not be accomomodated in last financing at AU$0.95 be able to buy in market in AU$10m blocks, I am hoping UK Institutions ex Smith Newcourt and Anglo Pacific makes shares available.

I am hoping LSE:RAB out by now of their holding!

They appear to be a drag on so many mining and Oil and Gas Shares, taking too much then being forced sellers trading on huge Margin post last BOE Meetng ROI Increase!

Not investors certainly, looks like they will have needed to cut back massively on gearing, so thankfully ASX:PLA do not have very much with RAB Capital Plc the Kiss Of Death in NR Circles IMHO!

All IMHO, NAG, DYOR etc

Cheers

Ash:)

[mr ashley james] 09/11/2006 16:08

Jules I missed this put out on Pirelli LSE:PLA Ticker Code not LSE:PLAA Ticker Code

Platinum Australia L Platinum Australia sees start of Smokey Hills mining in early 2007
LONDON (AFX) - Platinum Australia Ltd has confirmed it expects to begin
construction and mining operations on the Smokey Hills project in early 2007,
with plant commissioning starting in late 2007.
During the initial phase, which is depended on the issuing of the necessary
permits, the company proposes to mine ore for toll treatment through a nearby
plant to generate early cash flow.
Platinum Australia has agreed Smokey Hills Platinum Ltd in a staged
acquisition.
It has acquired an initial 74 pct stake in SHP by paying 3.4 mln usd for an
80 pct stake in the Smokey Hills PGM project. The balance stake will be acquired
for 15 mln fully paid shares in PLA, the statement said.
[e-mail]
tfn-mum-jro/tfn-mum-jro/tfn-mum-jro/rar

COPYRIGHT

Copyright AFX News Limited 2006. All rights reserved.
The copying, republication or redistribution of AFX News Content, including by
framing or similar means, is expressly prohibited without the prior written
consent of AFX News.

AFX News and AFX Financial News Logo are registered trademarks of AFX News
Limited

[mr ashley james] 08/11/2006 10:35

Up 8.70% on ASX 6.10% so far in London

[mr ashley james] 08/11/2006 04:22

Yikyak,

The good News appears to be that Energyi is out.


Should be no one pumping and dumping this share, nor badly ramping it without doing any research holding it back now and more serious professional players turn up.

Next stage AU$1.81

Not sure why he felt he needed to tell us he was selling or had sold.

All IMHO, NAG, DYOR etc

Cheers

Ash:)

[mr ashley james] 08/11/2006 02:41

Jules,

AU$1.215/AU$1.22 to AU$1.30, we made 8 cents net tonight versus a AU$0.005 Risk Spread, no Stamp Duty, Reasonable Aussie Brokerage Fees no brainer, we won 16 times our Risk into the Trade in a single day.

All IMHO, NAG, DYOR etc

Cheers

Ash:)

[mr ashley james] 06/11/2006 03:46

Jules next stop AU$1.81 IMHO

[hammy davies jnr] 06/11/2006 02:05

Blimey, wot a fred header.

[mr ashley james] 06/11/2006 01:46

Next Wave AU$1.81 IMHO

[mr ashley james] 04/11/2006 15:01

Jules,

Spread in Australia just AU$0.005 ie half a cent roughly 0.20 of a penny or at AU$1.22/AU$1.215 just 0.0041%

Can't see why more people don't trade ASX personally.

All IMHO, NAG, DYOR etc

Cheers

Ash:)

[mr ashley james] 03/11/2006 03:07

AU$1.81 next stop IMHO

[mr ashley james] 02/11/2006 10:07

Jed yes, and if the Thread Header isn't then I would certainly think that the Internal Rate of Return of 672% on Smokey Hills is!

1st Quarter Results

RNS Number:2615L
Platinum Australia Limited
31 October 2006


PLATINUM AUSTRALIA LIMITED

ACN 093 417 942







3rd Floor, 18 Richardson Street, West Perth PO Box 1083, West Perth
Western Australia 6005 Western Australia 6872


Telephone: [phone] Email: [e-mail]
Facsimile: [phone] Website: www.platinumaus.com



Our ref: ASX0692JDL:30.5:JD



For full document associated with this announcement, please follow the link
below:







31st October 2006



QUARTERLY REPORT FOR THE PERIOD

ENDED 30th SEPTEMBER 2006



HIGHLIGHTS



Green Light for Smokey Hills PGM Project from Bankable Feasibility Study



Platinum Australia Limited (ASX: PLA) (AIM: PLAA) announces that the final
results from the Smokey Hills Bankable Feasibility Study confirms that the
project is extremely attractive and very robust and able to generate returns of
over 70% on the Base Case assumptions and in excess 600% using July average
metal prices and exchange rate.



New Order Right Cession for Smokey Hills PGM Project



In September PLA announced that it had received ministerial approval for the
cession of the New Order Prospecting Right covering the Smokey Hills PGM Project
to PhokaThaba Platinum Pty Ltd ("PTP"), the Joint Venture Company in which PLA
is earning an 80% interest.



New Order Right Issued for Kalahari Platinum Project



In September PLA also announced that a New Order Prospecting Right had been
issued for the Kalahari Platinum Project. The company commenced drilling during
the month and currently has three drill rigs working on the site with a fourth
rig due in the near future.



PLA Mandates Standard Bank to arrange Funding for the Smokey Hills Project



In early October PLA announced that Standard Bank of South Africa had been
mandated by the company and its South African subsidiary, PhokaThaba Platinum
Pty Ltd ("PTP") to arrange the Project Debt Financing for the Smokey Hills
Project. The debt funding to comprise of a ZAR220 million facility for PTP. The
balance of ZAR60 million of capital required to develop the project to be
provided as equity by PLA and its joint venture partners





OPERATIONS



PLA operations were focused on the Smokey Hills PGM Project and the Kalahari
Platinum Project in South Africa. In Australia Sally Malay Mining ("SMY")
continued to work on updating the previous BFS on the Panton PGM Project as part
of PLA's joint venture with SMY.




Smokey Hills Platinum Project



The Smokey Hills PGM Project is located on the eastern limb of the Bushveld
Complex in the Limpopo Province of South Africa, 300 kilometres north east of
Johannesburg. The Project is adjacent to and up dip from the existing Modikwa
Platinum Mine owned by African Rainbow Minerals and Anglo Platinum.



PLA has signed a formal Sale Agreement with Smokey Hills Platinum (Pty) Ltd ("
SHP") to acquire up to 80% of the Project through the staged acquisition of 100%
of SHP. PLA acquires an initial 74% interest in SHP by providing $3.4 million
for SHP to fund the purchase of an 80% interest in the Project. The balance of
26% in SHP will be acquired for 15 million fully paid shares in PLA. The balance
of the Project is held 5% by the local community and 15% by Corridor Mining
Resources, a Company owned by the Limpopo Provincial Government.



PLA commenced a resource definition drilling program on the project in July 2005
and a Bankable Feasibility Study ("BFS") in October 2005. The BFS was completed
during the first part of the quarter and a full summary of the results are
provided in Table 1 below while the underlying assumption relating to metal
prices and exchange rates are provided in Table 2.



GRD Minproc (Pty) Ltd are the Lead Engineers for the BFS, while Snowden are
responsible for the Resource Estimate and Mining Study, SRK Consulting for
Tailings and Hydro-geological studies and Africa Geo-Environmental Services for
the Environmental Study.



Table 1. Summary of Results from Smokey Hills BFS


Base Case Ave July Prices

Production 4E PGM approx. 95,000 oz/annum
Plant Recovery 85%
Project Life 7 years
Cash Costs 4E PGM US$226/oz US$226/oz

Basket Price 4E PGM US$677/oz US$1,117/oz

Capital Cost
Initial US$ $40.5 Million $40 Million
Deferred US$ $14 Million $14 Million

NPV
10% US$ $79 Million $249 Million
15% US$ $60 Million $202 Million

IRR 74% 672%
Cashflow US$ $139 Million $396 Million
Payback months 20 months 3 months



Table 2. Metal Price and Exchange Rate Assumptions


Table 2 Rand/US Dollar Exchange Rates and Metal Prices
July Average Base Case
Exchange Rate ZAR/US$ 7.08 7.0
Metal Prices US$ ZAR US$ ZAR
Platinum Per oz 1,232 8,723 900 6,300
Palladium Per oz 321 2,273 300 2,100
Rhodium Per oz 4,622 32,724 1,500* 10,500*
Gold Per oz 633 4,482 450 3,150
Iridium Per oz 400 2,832 100 700
Ruthenium Per oz 172 1,218 250 1,750
Nickel Per tonne 26,500 187,620 10,000 70,000
Basket Price Per oz 1,117 7,906 677 4,736



* The Base Case Rhodium Price has been increased from US$1,000 used in the
preliminary figures to US$1,500 in the final figures as a result of review of
projected metal prices obtained from various industry sources.



The Company envisages commencing operations at Smokey Hills initially as an open
cut and then progressing to an underground mine. During the initial phase while
the plant is under construction PLA proposes to mine ore for toll treatment
through a nearby plant to generate early cash flow. This phase would last for
approximately 12 months after which ore would be treated through the on-site
plant producing a flotation concentrate for sale to any one of a number of
smelters in South Africa, the nearest of which is less than 100 kilometres
distant.



Dependent on the issuing of the necessary permits PLA proposes to commence
construction and mining operations in early 2007 with plant commissioning
occurring in late 2007. The company commenced the preliminary engineering on the
project during the quarter to allow the long lead items, primarily the mills, to
be ordered in the current quarter.





Kalahari Platinum Project



The Kalplats Project is located 330 km west of Johannesburg and has an
established (Indicated and Inferred) resource of 3.4 million ounces 3E PGM,
including a high grade resource of 1.4 million ounces 3E PGM at a grade of 3.6 g
/t 3E PGM. PLA believes that there is significant potential to increase the
size of the resource as all deposits appear to be open at depth and along strike
and PLA have identified numerous targets from geochemical survey work and a high
resolution aeromagnetic survey completed by PLA in early 2005.



Under the Kalplats Joint Venture Agreement, PLA is earning up to 49% of the
Kalplats Project from ARMplats by completing a Bankable Feasibility Study
including further drilling and providing the right for the project to use the
Panton metallurgical process ("Panton Process").



PLA and ("ARMplats") have also applied for a prospecting right covering an area
approximately 20 kilometres to the north and 18 kilometres to the south of their
South African Kalahari Platinum Project ("Kalplats") area, increasing the total
strike length held by the parties to almost 50 kilometres.



PLA and ARMplats will each have a 50 percent contributing interest in the new
area and PLA will manage the exploration program which will target extensions of
the known Kalplats style of Platinum Group Metal ("PGM") mineralisation.



Following the issue of a New Order Prospecting Right covering the project in
September PLA commenced the PFS drilling program which will comprise
approximately 22,000 metres of drilling and by early October had three drill
rigs working on the site. PLA anticipates completing this initial drilling
program in early 2007 allowing an updated resource to be estimated by March/
April 2007. A further program of 25,000 metres will then be drilled to further
define and update the resource as part of the BFS due for completion by the end
of 2007."



PLA has appointed GRD Minproc as the Lead Engineer for the Kalplats Project and
expects to appoint further consultants in the coming month. An initial program
of metallurgical testwork has already been undertaken with results indicating
that a recovery of 80% can be achieved into a saleable PGM concentrate.



PLA believes that the existing resource will support the development of an open
cut project producing 200,000 oz 3E PGM (platinum + palladium + gold) per annum.
Further success from the drilling program could increase this to 300,000 oz 3E
PGM per annum, making it a truly world class deposit.





Panton Platinum Palladium Project



The Panton Project is located in the Kimberley region of Western Australia, 60
km north of Halls Creek and 60 km south of the Sally Malay site. The Project
has a (Measured + Indicated + Inferred) resource of 14.3 Mt at 5.2 g/t 7E PGM
containing 2.4 million ounces 7E PGM, including a high grade resource of 10.1 Mt
at 6.1 g/t 7E PGM containing 2 million oz 7E PGM.



Sally Malay Mining Limited ("SMY") are earning a 50% interest in an initial
parcel of 1.5 Mt of high grade ore by spending $750,000 to complete a Bankable
Feasibility Study to evaluate the mining of high grade ore from Panton and
processing it through the Sally Malay Plant to produce a high grade PGM
concentrate. The agreement may be extended to cover further parcels of ore.



Following the receipt of statutory approval SMY commenced refurbishment of the
exploration decline at Panton during the quarter and by late October had
completed 230 metres of rehabilitation with 20 metres remaining to be completed.
During the coming quarter SMY expect to mine a bulk sample of ore from the
decline had undertake pilot plant testwork on the sample.





Qualification Statement



We confirm that the exploration results and resources contained in this report
are based on information compiled by Tony Greenaway, Geology & Resources Manager
of Platinum Australia Limited, who is a member of The Australasian Institute of
Mining and Metallurgy.



Tony Greenaway has more than five years experience which is relevant to the
style of mineralisation and type of deposit under consideration and to the
activity which he is undertaking, to qualify as a competent person as defined in
the 2004 edition of the 'Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves'. Tony Greenaway consents to the inclusion
in the report of the matters based on his information in the form and context in
which it appears.



Media enquiries:
Sarah Allchurch
Allchurch Communications
[phone]
Media enquiries:
Ron Marshman / John Greenhalgh
City of London PR
[phone]

JOHN LEWINS
Managing Director




Glossary



3E PGM platinum + palladium + gold
4E PGM platinum + palladium + rhodium + gold
6E PGM platinum + palladium + rhodium + iridium + ruthenium + gold
7E PGM platinum + palladium + rhodium + iridium + osmium + ruthenium +
gold
Au gold
Ir iridium
Pd palladium
Pt Platinum
Rh rhodium
Ru ruthenium


* The six Platinum Group Metals (PGM's) are Platinum (Pt), Palladium, (Pd),
Rhodium, (Rh), Iridium (Ir), Osmium (Os) and Ruthenium (Ru).



Appendix 5B


Mining Exploration Entity Quarterly Report

Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001.




Name of entity
PLATINUM AUSTRALIA LIMITED


ABN Quarter ended ("current quarter")
99 093 417 942 30 September 2006

Consolidated Statement of Cash Flows

Current quarter Year to date
Cash flows related to operating activities (3 months)
$A'000 $A'000
1.1 Receipts from product sales and related debtors


1.2 Payments for (a) exploration and evaluation (492) (492)
(b) development
(c) production
(d) administration (739) (739)
1.3 Dividends received
1.4 Interest and other items of a similar nature 178 178
received
1.5 Interest and other costs of finance paid
1.6 Income taxes paid
1.7 Other (provide details if material) 7 7
(1,046) (1,046)

Net Operating Cash Flows

Cash flows related to investing activities
1.8 Payment for purchases of: (a) prospects


(b) equity investments
(23) (23)

(c) other fixed assets
1.9 Proceeds from sale of: (a) prospects
(b) equity investments
(c) other fixed assets
1.10 Loans to other entities (4) (4)

1.11 Loans repaid by other entities

1.12 Other (provide details if material)

Net investing cash flows (27) (27)
1.13 Total operating and investing cash flows (1,073) (1,073)
(carried forward)

1.13 Total operating and investing cash flows (brought (1,073) (1,073)
forward)

Cash flows related to financing activities

1.14 Proceeds from issues of shares, options, etc. 140 140

1.15 Proceeds from sale of forfeited shares

1.16 Proceeds from borrowings

1.17 Repayment of borrowings

1.18 Dividends paid

1.19 Other (provide detail if material) Fundraising
Costs

Net financing cash flows 140 140

Net increase (decrease) in cash held (933) (933)

1.20 Cash at beginning of quarter/year to date 24,013 24,013
1.21 Exchange rate adjustments to item 1.20 (38) (38)
1.22 Cash at end of quarter (refer note below) 23,042 23,042


Payments to directors of the entity and associates of the directors

Payments to related entities of the entity and associates of the related
entities


Current quarter

$A'000
1.23 Aggregate amount of payments to the parties included in item 1.2 (109)
1.24 Aggregate amount of loans to the parties included in item 1.10 -


1.25 Explanation necessary for an understanding of the transactions
Cash of $26,282,000, as reported in June 2006, included an amount of $2,269,000 which
represented a deposit held as security for a bank guarantee being held as consideration for
the acquisition of an interest in the Smokey Hills Joint Venture. Release of the funds was
subject to the transfer of a new order right to Phokathaba (Pty) Ltd in accordance with South
African mining legislation. Subsequent to the June quarter report, this amount was transferred
to other assets adjusting the closing cash balance to $24,013,000.

Administration expenses were higher for the quarter due to increased efforts on global
investor relations together with the sourcing of project debt funding.


Non-cash Financing and Investing Activities

2.1 Details of financing and investing transactions which have had a material effect on consolidated
assets and liabilities but did not involve cash flows

N/A


2.2 Details of outlays made by other entities to establish or increase their share in projects in which
the reporting entity has an interest

N/A



Financing Facilities Available

Add notes as necessary for an understanding of the position.


Amount available Amount used
$A'000 $A'000
3.1 Loan facilities N/A -

3.2 Credit standby arrangements N/A -

Estimated Cash Outflows for next Quarter

$A'000
4.1 Exploration and evaluation (3,998)
4.2 Development -

Total (3,998)


Reconciliation of Cash

Reconciliation of cash at the end of the quarter (as Current quarter Previous quarter
shown in the consolidated statement of cash flows)
to the related items in the accounts is as follows. $A'000 $A'000
5.1 Cash on hand and at bank 1,408 1,491
5.2 Deposits at call 21,634 22,522
5.3 Bank overdraft
5.4 Other: Bank Guarantees - -
Total: cash at end of quarter (item 1.22) 23,042 24,013

Changes in Interests in Mining Tenements


Tenement Nature of interest Interest at Interest at
reference beginning of end of
(note (2)) quarter quarter
6.1 Interests in mining
tenements relinquished,
reduced or lapsed


6.2 Interests in mining
tenements acquired or
increased





Issued and Quoted Securities at end of Current Quarter



Description includes rate of interest and any redemption or conversion rights
together with prices and dates.


Total number Number quoted Issue price per Amount paid up per
security (see note security (see note
3) (cents) 3) (cents)
7.1 Preference securities
(description)
7.2 Changes during quarter
(a) Increases through issues
(b) Decreases through
returns of capital,
buy-backs, redemptions
7.3 +Ordinary securities 179,715,353 179,715,353
7.4 Changes during quarter
(a) Increases through issues 700,076 700,076
(b) Decreases through
returns of capital, buy-backs
7.5 +Convertible debt securities
(description)
7.6 Changes during quarter
(a) Increases through issues
(b) Decreases through
securities matured, converted
7.7 Options (description and Exercise price Expiry date
conversion factor)
3,581,776 3,581,776 20 Cents 30 November 2006
15,000 - 43.5 Cents 14 March 2007
270,000 - 22.5 Cents 5 November 2008
5,000,000 - 35 Cents 10 December 2009
2,500,000 - 20 Cents 11 December 2009
730,000 - 37 Cents 30 November 2009
100,000 - 83 Cents 30 April 2010
650,000 - 37.3 Cents 24 May 2011
400,000 - 70 Cents 30 June 2010
7.8 Issued during quarter 400,000 - 70 Cents 30 June 2010
7.9 Exercised during quarter 700,076 700,076 20 Cents 30 November 2006
7.10 Expired during quarter - - - -
7.11 Debentures

(totals only)
7.12 Unsecured notes (totals only)



Compliance Statement



1 This statement has been prepared under accounting policies which
comply with accounting standards as defined in the Corporations Act or other
standards acceptable to ASX (see note 4).



2 This statement does give a true and fair view of the matters
disclosed.


Sign here: .................................. Date: 31 October 2006
(Director / Company Secretary)

Print name: GILLIAN SWABY

Notes



1 The quarterly report provides a basis for informing the market how
the entity's activities have been financed for the past quarter and the effect
on its cash position. An entity wanting to disclose additional information is
encouraged to do so, in a note or notes attached to this report.



2 The "Nature of interest" (items 6.1 and 6.2) includes options in
respect of interests in mining tenements acquired, exercised or lapsed during
the reporting period. If the entity is involved in a joint venture agreement
and there are conditions precedent which will change its percentage interest in
a mining tenement, it should disclose the change of percentage interest and
conditions precedent in the list required for items 6.1 and 6.2.



3 Issued and quoted securities The issue price and amount paid up is
not required in items 7.1 and 7.3 for fully paid securities.



4 The definitions in, and provisions of, AASB 1022: Accounting for
Extractive Industries and AASB 1026: Statement of Cash Flows apply to this
report.



5 Accounting Standards ASX will accept, for example, the use of
International Accounting Standards for foreign entities. If the standards used
do not address a topic, the Australian standard on that topic (if any) must be
complied with.








This information is provided by RNS
The company news service from the London Stock Exchange
END

QRFFGMFGKMGGVZG

[jed tinsel] 02/11/2006 03:30

Suck me sideways! Surely that header is a contender for teh Guinness Book of Records.

AIMHO, DYOFR, VBRS, et cetera..

Cheers,

Jedley

[mr ashley james] 31/10/2006 05:46

Cor Blimey Wot A share!(;-)0



Worthy of a somewhat expansive thread header IMHO

Cheers

Ash:)