PMA relisted at 10am this morning after an 18mth "holiday". Its no coincidence that a general meeting on 3 March will see two new directors join the board and Pilmer and Wall leave.
Windimurra was closed in Feb 2003 at a vanadium price of US$1-70. Todays vanadium price quoted by Metal Bulletin is an impressive $5.25/lb. A level not seen since Windimurra was given the go ahead in 1998.
Xstrata PLC released its 2003 accounts on Tuesday 24/02 but said littlke about their plans for Windimurra see www.xstrata.com. Interestingly Xstrata have two vanadium mines in RSA (plus Windimurra). They closed one of their two mines (vantech) on 1/01/2004 due to the ore body running out. They attribute the leap in V price to this plus soaring Chinese demand.
PMA has a 15% royalty over Windimurra so it could benefit from a re opening.
I have heaps of PMA
PMA
precious metals australia limited
pma is on again
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