The run at the start of the month was probably related to this announcement. The run was quickly quashed with an ASX price inquiry. Speculating, we are about to be notified of a capital raising or a discounted private placement probably why Northcape has left, or the mine has not performed and they are considering closing operations or the Chinese are going to make a silly offer or settlement with the mining contractor has finalised, Rooderand has been granted a mining license. All guesses. Interesting that Patersons gave PLA a speculative target of 28c in May. They have a good quantity of cash on the balance sheet, holdings in resources (Rooderand/Kalaharoi) and an operating mine whose performance is at this stage unknown. All set against an average PLA price, QE3 has not eventuated.
PLA Price at posting:
6.7¢ Sentiment: ST Buy Disclosure: Held
