Pointless in playing the market if you have no faith. The platinum is still there, they have had their set backs, either by bad luck or bad management.
I think JIC will want to prove their credentials.
Who is going to participate when its trading under the offer price is a good question.
The underwriters (I wouldn't be surprised that a hedge fund or two are not part of this underwriting) they will pick these up for 0.56 and flick to the nearest institution for 0.59.
I have added today slightly more than what i would have got via the SPP.
I will jettison the same amount as a tax loss later in the financial year to offset against booked profits.
PLA Price at posting:
55.0¢ Sentiment: None Disclosure: Held