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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Platmin | LSE:PPN | London | Ordinary Share | CA72765Y1097 | COM SHS NPV (CDI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 17.25 | - | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
21/5/2009 17:25 | TIDMPPN RNS Number : 6867S Platmin Limited 21 May 2009 ? NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE SERVICES PLATMIN ARRANGES PLACEES FOR GBP39 MILLION OF NEW COMMON SHARES May 21, 2009 TORONTO: Platmin Limited ("Platmin", TSX/AIM: PPN) announces today that Platmin and GMP Securities Europe LLP have arranged for placees to purchase GBP39,008,087 (approximately C$69 million) of new common shares (75,015,552) common shares) on a private placement basis at a price of 52p (C$0.92) per share. The placing price represents a discount of 5.45% to the aggregated 30 day volume weighted average trading price of the Platmin common shares on the TSX and AIM as of the close of trading in Toronto on May 15, 2009. The proceeds of the private placement will be used for debt restructuring and for working capital purposes. Closing of the proposed private placement will take place on May 22, 2009. Admission to trading on AIM of 65,215,552 shares will take place on May 22, 2009 and application for admission to trading of the remaining shares will be made for admission on May 28, 2009. The TSX has conditionally approved the issuance of the new common shares, subject to its customary conditions. Following completion of the private placement Platmin will have 445,018,352 issued and outstanding common shares. About Platmin Platmin is an explorer and emerging platinum group metal producer whose four key projects host mineral resources and reserves: Pilanesberg, Mphahlele, Grootboom and Loskop. All of Platmin's projects are located in the Bushveld Complex of South Africa, which is estimated to contain approximately 90% of global platinum mineral resources. For further information Keith Liddell, Chairman +27 12 661 4280 Wayne Koonin, Chief Financial Officer +27 12 661 4280 Fiona Owen, Grant Thornton UK LLP (Nominated Adviser) +44 207 383 5100 Jeremy Wrathall, GMP Europe +44 207 647 2800 Marion Brower, Russell & Associates +27 11 880 3924 This information is provided by RNS The company news service from the London Stock Exchange END MSCCKDKKOBKDPPB saffy.. | safman | |
21/5/2009 13:30 | monhearme well said I'm confident that in time AQP will realise the value in RDG's Sheba's | laserdisc | |
21/5/2009 12:06 | Made my move into PLAA in February......and the recent resource upgrade has given me even greater confidence in the company's long term prospects. Speaking of opencast mining, I'm confident that in time AQP will realise the value in RDG's Sheba's Ridge....so I'll be holding on to the bulk of my RDG. Not yet taken the plunge PPN; that spread has put me off all the way from 45p! LOL | monhearme | |
21/5/2009 10:24 | Opencast mining will result in lower costs, like with PLAA. Hence, I think PLAA and PPN offer better prospects. I recently sold my RDG stock having been in them for several years. | the metal man | |
20/5/2009 21:31 | TMM - thanks. This week's share price move suggests could be looking at a placement price in high 50s imho. Topsliced some RDG held for 7 years recently and thinking of getting in here. Opencast production appeals. | monhearme | |
20/5/2009 15:54 | monhearne, On the placement price, that's hard to say. As Pallinghurst have a significant holding as well as representatives on the Board, I would think that they will take up any allocation and mop up. They will also hold on to them. Dilution would not be in their interests so we should not expect a big discount. If the placement is to replace a debt then I would think that any dilution would be muted by the savings made from the costs of servicing said debt. Add that to production being ramped up to 250k oz per annum then there remains plenty of upside IMO. | the metal man | |
19/5/2009 22:23 | With the ZAR350 million (C$48 million) bridge loan facility expiring 31 May it shouldn't be long before we find out placement price for this C$45 million to C$55 million (plus option of further C$15 million) fundraiser and so can work out the share dilution that goes with it, guess on direction of share price in short term etc. What is the probability of the private placement being done at a discount to market price especially given the recent run up in the share price? That said the previous placement was done at a significant premium to market price. Any thoughts? TIA edit: I'll get my coat...... | monhearme | |
12/5/2009 18:24 | Looking good guys, Metal Man, thanks for your continued postings along with Safman they are very helpful. Haven't really got to much to add so I don't say anything here. Only have a smallish holding in this one, I agree that this is looking good as a 1 bagger. Chartsmart - In terms of platinum producers what about CHX? They look a nice outfit to me. | jonny flame | |
12/5/2009 15:25 | Cheers Saffy. Looking good this afternoon. Chartsmart, you'll need to change your % figure for PPN already. | the metal man | |
12/5/2009 12:25 | > the metal man - no need to apologise whatsoever.. a bit of humor is good on the board. saffy | safman | |
12/5/2009 09:33 | Saffy I 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. | the metal man | |
12/5/2009 08:54 | "This board is very poor so maybe we can breath some life into it! " lol.. there are a few of us you know.. saffy.. | safman | |
12/5/2009 08:48 | Chartsmart, I can't agree more. I think around $400 oz costs are about right for PPN. Don't get me wrong, as a holder of PLAA I think the prospects for both companies are excellent given their transition to producers and the quality of their project pipelines. The spread on PPN is very off putting which makes it a higher risk investment and certainly a long term one. It means you have to really do your homework and try to see the picture 6 - 12 months down the line. With a stable Pt price and expected ramp up of production to around 250k oz (PPN 180k approx) the investment case is compelling when you compare the figures against their peers. AQP production is likely to be back up to around 500k oz when they swallow RDG but, their overall costs will be much higher due to their maturing projects. PPN's projected profit is around $C43m for Feb 2010 and around $C83m the following year, although I am not sure what the assumed costs and gross earning figures were. AQP profit projection is around £43m for June 2010 (PPN on a par with that 7 months later). The projections could ultimately be wildly wrong but, allied with what we already know they do allow us to draw fair comparisons. This board is very poor so maybe we can breath some life into it! | the metal man | |
11/5/2009 13:52 | Hi The Metal Man, I confess to not having looked too closely to PPN when I bought them on breakout but having had some more time I will be sticking with them. Excellent management, good projects and cheap Oz. ~$400 at Pilanesberg? The chart here certainly looks excellent. I have followed PLAA since conception and having spoken with JL in the past feel it is in the safest of hands. Kalplats still excites me probably only because I have followed it so closely. Both of them look like excellent plays in the PGM sector. | chartsmart | |
11/5/2009 11:07 | chartsmart I used to have CLIO in my portfolio. As a holder of PPN and PLAA, I believe PPN has the larger resource and potential upside. Like PLAA their projects are near surface and low cost. I still think they look cheap compared to their peers. | the metal man | |
11/5/2009 06:56 | The spread is terrible on some of these AIM cos which is why it is useful to find a DMA service and get the most for your money. I see that Cape Lambert has just bought up the Copperco assets which includes a large chunk of PPN. | chartsmart | |
05/5/2009 14:32 | 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.. | safman | |
19/4/2009 12:32 | 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 | alfodd | |
15/4/2009 10:04 | murrayteller The spread has always been the problem. Even in the 20's it was ridiculous. I have been buying in small volumes again up to 54p recently and again yesterday at just over 55p. With a stable pt price and strong cash position, PPN has a clear route to ramp up production. With projected 250k oz (PPN 180k approx) that is a healthy output to reach in year 1 and higher than many small pgm producers. With other projects to come on line and a total resource of some 34m oz (including inferred) PPN has huge potential IMO. However, not to lose sight of the here and now, achieving current production projections with a stable pt price is the aim and that should only serve to improve the share price but, anything can happen as we all know and that's the calculated risk we take. | the metal man | |
15/4/2009 09:19 | Here's a link to the March 23rd presentation on the Platmin website, it might explain everything more clearly. It does show the expected projections and proves that PPN will be one of the lowest cost producers. Incidentally, as the report shows the Chairman of Platmin, Keith Liddell, has over 25 years experience in the platinum industry and was former MD at Aquarius Platinum. | the metal man | |
15/4/2009 08:41 | Many thanks for that Metal Man. Can't fault it apart from the ridiculous spread, the inability to buy any volume, and the swift rise from 43p. Hoping for a retrace to my original interest level of 50p | murrayteller | |
15/4/2009 08:06 | steady upward movement.. lets it continues in the same fashion with some sort of recovery in the industrial commodities sector.. saffy.. | safman | |
14/4/2009 08:48 | murrayteller, The fund raising of $175m was aimed at paying off the bridging loan and that leaves a substantial cash balance. Pallinghurst paid 45p a share when the market price was in the mid 20's. Apart from the facility from Standard Chartered I am not aware of any other large commitments. PPN hold just over 72% of Pilanesberg as they do Grootboom and Loskop, with Mphahlele at just over 54%. Pallinghurst are an investment company specialising mainly in what they consider to be undervalued pt assets. It would not surprise me if they had eyes on the whole company but, with Investc Bank and Lonmin as holders of PPN, I would think they would have to pay fair value. However, I believe that as an investment company themselves they would want to leave managing the company to those that know best how to do it, and have representation at board level. I can't see them selling out unless they are offered a subsatantial premium. They have invested heavily in the company as they see the potential. All IMHO. | the metal man | |
10/4/2009 12:16 | Metal Man, sorry to trouble you but can I put a few questions to you re PPN? Apart from the bridge loan, do you know how much debt they have? What percentage of Pilanesberg's profits are they entitled to? What are Pallinghurst's intentions? Are they long-term or would they sell if the right buyer came along? Thanks in advance | murrayteller |
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