going back to june 2008

http://www.fatprophets.com.au/Member%20Area/Product%20Landing/Report%20List/Report%20Page/Article%20Page.aspx?id=0263fb2f-c74b-4758-9bd5-80cae2099bbb&product=Australasian%20Mining&pt=paid

I have gone back to 2008 to assess market view on Platinum Australia. In June 2008 this had a price target abive A$3 and that was mostly on the basis of Smoky Hills and development prospects for Kalplats.

Since then we have had the GFC, slower progress at Smoky Hills and a funding debacle with the Chinese equity stake. We are now starting to move away from the GFC, funding issues have been sorted and PGM prices are starting to move back up strongly although there is a way to go still.

I am confident that Smoky Hills will hit its targets by end 1Q 2010 and now we have also;

a) A much lager Kalplats resource which is subject to further signiifcant upgrade in the BFS, especially if the 50% extension area proves to have broad based PGM mineralisation.
b) PLA have baught in and are now assessing the Rooderand project which allready has an assessed PGM resource that needs to be updated.
C) The Jogmec deal illustrates that there is international interest over the Kraaipan Greenstone belt where PLA hols signiifcant ground and could support multiple new PGM mines in the future.
D) Admittedly an outsider but if Palladium prices do settle at a permanently higher level of up to US$ 600/oz then this will be economical and will add to PLA valuation.

Fore those prepared to buy in and hold for the long term this share should go well past the A$3 of June 2008 (maybe even double of this?)

BR
Max