production is increasing, page-10

This is a long term play, think about Christmas not about going Skiing in June.

Sure, the short term species have a pretty good game going on. Low down side -8-10c and a solid upside, so they can't really loose too much only time if they have to hold for another bounce. They must be relishing the volatility.

My view for June Quarter:
Milled 99,558
Grade 3.65
Recovery 80%
4e PGM 10,262

Should be Sales of approx $15m against PLA's forecast costs of $14m. Not great but should be a strong market signal once achieved.

Smokey has a lot of Platinum inside her and the actual mining costs should be stable, if not come down because of the mine design and with economies of scale.

My bottom up;
Smokey 25-30c
Cash 2c
Panton, Rooderand 7-10c

That said - all we need is another strike, some global volatility, South African Gov't issues and its down to 5c again. But we could have a couple of substantial shareholder announcements, some action with the Chinese on the other holdings and some surprises in productivity and its all on.