DrWho..."I think there should be an external reiview and audit of PLA's operations by a competent authority with the objective of turning the company around" I fully agree. Unless they can demonstrate very soon that the mine will be profitable it should be mothballed with the processing equipment maintaned ready to move to Panton Sill or another more profitable one of their projects. Prefferably not in South Africa given the troubles with the workforce at Smokey Hills. Certainly let the mining staff and contractors know that if things don't improve by the end of this qtr then the mine will shut and they will be out of work. It is possible the staff are untrained and unproductive, and it will beg markedly better with time, but I don't think PLA has much time left before either going into receivership or being taken over if they keep this mine open. I'm actually amazed that they managed to raise any funds in this current "fundraising" without providing a very thorough roadmap to investors as to how they were going to extract themselves from this mess.
PLA Price at posting:
17.0¢ Sentiment: Sell Disclosure: Held
