Line wiped for crossing - same thing happened a few days before last rally to 22c leading into DFS
Seems to hit 18-19c before the algo manipulator sells a few thousand back down - happens like clockwork each time
Someone is short 3-5M+ and trying to shakeout whilst Platinum (14% holder) is finalizing the $100M finance and is in blackout - pretty easy to line up their substantial holder notices to see when they went in blackout
Forestry Approval is last remaining major hurdle. All sources say it is 'imminent'
Once they get that, Platinum out of blackout and can pick up remaining 6% on market, binding $100M finance ($3.5M already received) and mine build
US$82/t opex so at $120/t these guys are still clearing $20-30M after all fees, interest and capex repayments etc (rough figures)
These are what I like buying umizoomi at the bottom of the market. Profitable at the record low coal prices when majors are closing down mines. Should just be getting into production as prices turn and ride the rebound
The 100M warrants they received at 20c is the huge tell. Can pick up another 6% on market, or 30M shares. So with average holding price of 19.2c they can run it up to 40c, double their investment on paper whilst only increasing the average of their holding to just over 20c
Platinum supposedly in Australia this week so I'm thinking something is brewing - all too convenient given timing of Approval
