I think only PLA itself can make that informed call. What totally frustrates me is that they have completely glossed over this possibility in the rights issue documentation. Surely at this stage they have enough info on their mine and workforce to see if it worth pouring any more cash into a bottomless pit or not? I have to say that I'm amazed they raised so much cash from "sophisticated investors" in the recent placement without anyone wanting to know what the risks were. I'd certainly not recommend anyone take up the rights issue unless a lot more information on the viability of Smokey Hils was forthcoming.
PLA Price at posting:
11.0¢ Sentiment: Hold Disclosure: Held
