cost are in rand and fall as rand depreciates, page-4

rand currently 11 to 1 against the US$, so mining costs are more like US$200/oz, add $100 smelter cost and you still make money.

PPT have no choice but to sell, if unitholders within their various funds continue to pull money out and park that cash in a bank.

What you are seeing right across the board is forced redeemptions.

0.45 is a medium to long term bargain, but that is not to say it won't or can't go lower. Depends on your time frame. If it is short i would stay away from this market.