Pt has definitely come down to earth in the last few months to find support above US$800. As noted by others at this price (and the low Pd, Ni, Cu, Co prices), the lowest since 2003 where a significant proportion of PGM mines are losing money, closing and/or not expanding production which should support prices. However the new production expected this year and 2009 is a worry for me, would want to see further closures of high cost SA mines.
Also the 3 year chart of MMB shows two other significant bottoms in the 20-25c range during August 2007 and February 2008. At this current level MMB should find long term support again. Combined with this the likely base in Pt prices, rising gold price and strong well funded exploration appeal put MMB close or at bottom where long term value will emerge imo.
Further, see this a bit with tsx explorers in Canada, usually better to buy just before summer exploration season prior to any new results or drilling campaigns.
