I had been a long term PLA holder... until I couldn't see how the SH mine was going to produce net cash any time soon. When I saw Soros start to exit, I used the inexplicably rising sp to make my exit.
I am still watching keenly, and as the sp drops further, I study harder. The thing that bothers me, is that I still can't see how SH will ever be able to approach the cost numbers from the BFS. With the current PGM prices they should be able to make roughly $30m or so a quarter.
Oh well, maybe this weekend I will crunch all the numbers to see if, even in the best case senario, the BFS figures can be reached.
PLA Price at posting:
45.5¢ Sentiment: None Disclosure: Not Held
