financial reporting relief , page-5

I guess to find out as much as possible you need to look up the mob that PLA are merging with (Jubilee Platinum). On their website they have all their latest updates and their last report to the LME mentioned that there were ongoing delays caused by a number of reasons but they still expected that the merger would be completed by the end of the year. Limiting factors included raising the capital for the merger and proposed operations of the merged entity, ongoing discussions about the actual ratio of PLA shares in the mix (we are forever being further diluted) and the need for PLA shareholders to vote on this for final approval, oh, and also the need for all of this to meet the differing demands of the regulatory environments that they operate in (the UK, Aust, and South Africa). They also had problems selling assets to raise funds( a power station), but that is generating positive income so may not be a problem. In fact in the end they are better off running a power business rather than a platinum business! Upshot is that it is still on the go, the PLA smelter at the Smokey Hills mine is currently up and running and being used to generate further income by reprocessing stockpiles of residue, and as that is likely to operate profitably over a number of years, there is plenty of incentive for the merger to continue, especially at PLA is virtually being given away in the deal.