PTS is a diversified commodities stock, its shareholdings in WPG is about $15mln in value which is already more than 70% of PTS current market cap. It definitely worth a look considering it is holding many tenements at advanced stages, especially its iron ore tenement in NSW which I expect some news to come through soon.
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The past year has seen significant changes in PlatSearch and the way it conducts its business. Building on both its technical and commercial strengths, the Company now achieves greater benefit from its exploration activities by the following means: • The strategic alliance with Minotaur Exploration is proving to be a constructive relationship and has underpinned PlatSearch’s funding for new project generation. • PlatSearch’s investment in Western Plains Resources has increased substantially during the year and this increased asset backing has enabled the Company to expand the range and scale of its exploration activities. • A subsidiary company, Eastern Iron Limited, was formed in July 2007, to hold most of PlatSearch’s iron ore interests in western NSW. • A subsidiary company, Bluestone 23 Limited, was formed in August 2007, to hold certain of the Company’s resource industry investments and to seek other investment opportunities. • The appointment of an experienced full-time exploration manager, Peter Buckley, has added strength and impetus to the PlatSearch team.
PTS Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
