Soros seems to have got it right with the investment in Discovery Metals which is developing a copper resource in Botswana (Kalaharo Copper Belt). The BFS there is finally out and is very encouraging with huge potential for futher production expansion and resource upgrades.
PLA Kalplats has some similarities to Discovery;
1. Open pit mining
2. Deposits open at depth and along strike
3. Multiple additional development opportunities.
4. Wider Kalahari mineral belt
5. Significant Soros related investment
PLA progress recently has been disappointing being held back by production problems at Smoky Hills. Soros is still in so I remain confident that this could have a positive turn in 2011 just as Discovery has had in 2010.
PGM prices have held up rather well through the recent economic slow down. We could however allready be turning to more sustainable growth again and China automarket seems to be strengthening again. Things could get much brighter going forward.
BR
Max
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