this will help platinum price, page-4

re: damn director sold! p*ssed off The director sold both parcels @ 79 cents and in my opinion not a big deal. he still holds 500,000 through a holding company and not to mention a stack of options. why he sold the shares is beyond my knowledge but perhaps he had some holding in Cazaly ;-)

The financials for their projects look sound, regardless of any dilution of their share in the project. at current prices of metals, its IRR should be in excess of the 170% mentioned in its previous presentation. at a increased capital cost of say $50m, and assuming cost have gone up to $300 an ounce, there is still a healthy margin.

it would appear to me that both the smokey and panton projects are cashflow projects - which are intended to lay the foundation for developing the kalplats in the near term.

there is an inherent country risk but with the way things are, I doubt that the SA government would risk being seen as not supporting mining, not to mention to take full advantage of the idiocy of mugabe.

I hold PLAs and am sticking with the Eagle forecast of $1.13 ... which is about right when they do release their BFS, especially with anticipated higher costs and also a stronger AUD$.

DT