First post on PGM thread in recent years. Although, I have...

First post on PGM thread in recent years.  Although, I have invested in PGM and ARV many years ago.  I like the PGM situation and bought into a position today.

Firstly, my apology if this has been discussed and answered in the history of previous PGM discussions.

I note that as part of the PGM-ARV JV in 2015, that ARV issued 100,000,000 shares in ARV to PGM.   ARV consolidated its shares in Jan 2017 on a 1:20 basis.  So this shrinks the 100,000,000 to 5,000,000 shares post consolidation.

The following is noted in PGM's Annual Report 2017 for period ending 30 June 20017, that was released to the market on 29 Sept 2017:


"1. During the period, Platina disposed of part of its shareholding in Artemis Resources Limited (“Artemis”) for gross proceeds of $190,816 and recorded a gain of $110,816 on the sale. The balance of Artemis shares held at balance date have been marked to market with$49,000 being the fair value change to the carrying amount of the investment in Artemis. Refer Note 12.

2. During the prior period, Platina entered an agreement with Artemis for Artemis to earn a 70% interest in the Munni Munni project in WA. Consideration to Platina on completion of the Agreement, recorded in as other income, was $143,734 plus 100 million Artemis shares (valued at $0.001 per share)"

ARV shares closed at $0.069 on 30 June 2017.  So $49,000 at 30 June 2017 equates to approx. 770,000 ARV shares.

Unless PGM has sold the remaining shares since the 30 June 2017, this means that PGM's investment is rising as ARV share price is rising.  Another good reason to watch what is happening with ARV shares price in addition to the 30% we carry for the JV.