agenda takeover, page-4

-50% since July 2011 is bad but there are even worse stats

-95% since July 2008... or -87% in the last 20 months (22nd Jan 2010 to date) in which time the platinum price has risen almost 30% ($1400-1800)...

Where would the share price go if the PGM price now pulls back? Smokey Hills will likely have to be put on care and maintenance or disposed of for a token amount (say $5m and assumption of liabilities/rehabilitation costs) and PLA would enter cash preservation mode

On second thoughts that may be a better idea than simply plugging away on an uneconomic mine as they're doing with good money thrown after bad. The relatively strong commodity price in 2010-11 may have only delayed the inevitable, giving management the incentive to carry on in the hope cash costs might improve or grade might increase, all the while the rising PGMs were massaging foreword estimates and giving them time to get their excuses in order. and I can't think of a miner that's come out with more excuses over the years, in the early years the countless excuses for delays then into production we had contractor disputes, worker strikes, road closures, power failures, lightning strikes and many more. and no doubt more to come