Platinum Australia Ld Share Discussion Threads

[apavlovic] 17/11/2010 22:23

Red,

Looks like we needn't bother buying in?

[red ninja] 12/11/2010 14:34

Apavolic,

TDWaterhouse will let you take up the entitlement. Reading the announcement document. The retail offer opens on 19th of November and ends 3rd December.

I still think you need to check iii as they may not be as flexible with foreign offers as TDW.

Will ring Jarvis later ...

Sg31

They certainly have not been on top of there Smokey Hill mining operations. The new contractors have to do the business for PLA.

Well I would say even if you decide to buy and sell it is probaly worth it as the retail offer is at 56c and the institution offer is at 59c. Nothing is certain, it could even go down, but there is probably a small profit in there.

[sg31] 12/11/2010 13:52

It raises the important question...Is it worth taking up the allocation.

They don't seem to be on top of things at present.Is it just going to be throwing good money after bad.I am well out of pocket on this one.

[apavlovic] 12/11/2010 08:11

Red,

Tx, and lep me know please.

[red ninja] 12/11/2010 05:52

Apavolic,

I think it will depend on your broker so best to check with them.

I hold through TD Waterhouse and Jarvis IM.

Assuming UK holders are allowed to buy I think it will be no problem with TD Waterhouse. I'm not quite so sure with Jarvis IM, but I hopeful they will allow me to, but they may have an extra charge.

I'll check my brokers hopefully later today.

[apavlovic] 11/11/2010 23:10

Red,

Sorry for daft question but not had the time to catch up on the news. Sincer PLAA left teh aim market I just left my shares with iii account. Presumably they are still held in the register somewhere? I need to look into this.

If we decide to take up our allocations how would that work. Would I need to open an account with a broker who can deal in oz shares?

Your advice would be most appreciated

[pecker1] 11/11/2010 19:14

Red,

This offering certainly explains the recent decline in the share price after things were looking up with the new mining contractor on site. I think UK shareholders should be entitled to subscribe, despite the AIM listing having been withdrawn. I'd be surprised if JL kicked us in the teeth.

I have to say that this has been probably the most disappointing investment I have ever made. Disappointing because the early days promised so much and JL exuded confidence and competence. Yet here we are struggling to make Smokey Hills profitable and Kalplats now looking as exciting as cowpats.

I see little point in selling as the unrelenting flow of bad news - the latest, a dilutive and discounted offering - is in the price. My one straw that I'm clutching is that Kalplats is being so downgraded that ARM might be persuaded to sell some of their holding to PLAA.

[red ninja] 10/11/2010 23:47

Looking at the ASX releases I cannot see anything that says UK shareholders cannot take up the 1 for 7 allocation ?

[red ninja] 10/11/2010 06:20

Apavlovic,

Well I believe the DFS was only done on Indicated and Measured resource.

Thus the larger Inferred resources does not figure in the results and I believe that is a larger part of the current resource. I also bear in mind it only covers 7 of 8 targets. I believe also that this may be one of those projects which when it get going there will be possible extensions.

I would hope those facts will mean the project will be more profitable than stated in the DFS. Presumably should do.

A little bit late, but I sold out the new shares I have bought this year for a small profit.

That still leaves me with my core holding.

I believe the market really wants to see Smokey coming onto targets before we see more PLA share price recovery. It would be worth looking to see if African Minerals have brought out a release in SA about the DFS.

I may consider the case for paring down my holding again...given the share price is drifting downwards.

[apavlovic] 09/11/2010 18:52

Red,

What do you make of Kalplats FS? I thought it was going to be much bigger then that - a company maker but far form it me thinks now.

Do not know what it would take to get it back to its peak days?

[red ninja] 01/11/2010 06:24

Well lets hope the new contractor is a lot better than Redpath.

[pecker1] 29/10/2010 13:47

New contractor starts mining on Monday:



Qrt report also available on company website.

[red ninja] 17/10/2010 12:55

A,

I have already decided to hold for the moment awaiting the news on Kalplats DFS and with the hope that Redpath will move off the Smokey Hill site.

Hopfully we'll have a better run in the next year...

[apavlovic] 15/10/2010 23:36

I think you should stick. Someone will eventually put them out of this misery. Cannot get any worse. Anyway I will stick with what I have and not downsize.

[red ninja] 14/10/2010 17:05

I'm being philosphical about it.

Rebound yesterday, but I'm guessing continued volatility till Redpath leave the mine, legal dispute is clear and the funding situation is clear.

Contemplated selling a chunk yesterday so far not selling has been the best move after the large initial drop that is...

[apavlovic] 14/10/2010 07:45

Agree and I am pleased at the pace of progress. they have obvioulsy known about this for some time. Disgusting really. We completely missed on PM price rises and had I invested money into say AQP would have seen some nice rewards.

To be honest I am hoping that they get Kalplats FS and someone buys them out. Still own a lot of shares here by my standards!

[red ninja] 14/10/2010 06:01

Lucky you downsized.

It will probably be another disappointing quarterly.

Hopefully Repath will withdraw and hopefully in the long term it will be positive.

I mean the lightening strike always looked like incompetence. New contractors appointed, but oviously can only get on site when Redpath withdraw.

New contractors seem to have been chosen on a safety first basis so hopefully a lot better.

[apavlovic] 13/10/2010 22:42

Aye, same here although I downsized before they withdrew from aim but sitting on a loss.

It will be another dissapointing quarterly report. Will see. I guess I am just worried thsi situation is not going to get resolved quickly. First the pot hole, then lightening strike, then this... what else is there?

[red ninja] 13/10/2010 20:31

Hi Apavolic

Hoping for news on Kalplats shortly.

There will probably be cash raising at distressed prices.

6-9 months. Can't tell really, could be less could be more.

I have too many PLA got carried away I guess.

[apavlovic] 13/10/2010 20:26

Hi Red,

Not good. Think this will take 6 - 9 months to sort out. No news on kalplats either.

I thought thsi was going to be a little gem but it proved a bit of a disaster.

[red ninja] 13/10/2010 20:14

Yes, unfortunately bought 20k more shares the other day so feeling mugged currently as this issue has obviously been going on for some time.

Long term it is probably for the good as Redpath seem incompetent.

However, short term we have to get them out, find someone competent and that will take time and money.

Also there will be a legal dispute with Redpath ...

Oh dear ...

[apavlovic] 13/10/2010 20:08

This is going form bad to worse.

[piedro] 07/10/2010 09:53

Will South Africa nationalize its gold and platinum mines?
The possibility of possible nationalization of South Africa's key mining sector rumbles on. Is this likely to happen? Julian Phillips looks at the politics behind the rhetoric.
Author: Julian Phillips
Posted: Thursday , 07 Oct 2010

[sg31] 13/9/2010 19:49

Piedro,It's no longer AIM listed so no UK prices or RNS.Probably a lot of UK holders have sold.Most comment now is probably on Hot Copper in Aus.

This thread is still on my favourites list at the moment.