an interesting comparison.., page-2

Some smokey hills info per website and old announcements,,,I wanted to see what the asset has cost...
(15 million x $1.545 = about 28 million + 2.1 million= about 30 million initial payment add development of approx 49 million.... Smokey has cost us at least 79 million from what I have seen,,,excuse spelling,,,,doing this before dinner and bit stressed for time...

website
"The capital cost for the development of the project was originally estimated at about $49m, of which about $37m has been provided as debt finance by Standard Bank of South Africa. This has since risen to $52m with the purchase of 8MVA of standby generating capacity for the project."

"PLATINUM AUSTRALIA ISSUES 15 MILLION FULLY PAID SHARES TO COMPLETE
ACQUISITION OF 80% OF SMOKEY HILLS PGM PROJECT
Platinum Australia Limited (ASX:PLA) (AIM:PLAA) is pleased to announce that it has
completed the acquisition of an 80% interest in the Smokey Hills PGM Project through
the issue of 15 million new fully paid shares to the Vendors.
PLA Managing Director John Lewins said: “Following the successful completion by PLA of the
Bankable Feasibility Study on the Smokey Hills PGM Project and the cession of the New Order
Prospecting Right to our Joint Venture Company, PhokaThaba Pty Ltd, we have now settled all
aspects of our acquisition of 80% in the Project. Under the terms of the Sale Agreement signed
in May 2005 this required PLA to pay ZAR15 million (~US$2.1 million) and issue 15 million fully
paid shares in the Company.”
“PLA is now very focused on the development of the Project having recently announced the
placement of the order for two 1400 kW ball mills for the Smokey Hills Processing Plant which
are due to be delivered in late 2007.”
In October 2006 PLA also announced that Standard Bank of South Africa had been mandated
to arrange the Project Financing for the Project comprising a debt facility of ZAR 220 million
(~US$31 million). The balance of the ZAR 280 million (~US$40 million) of the capital required to
develop the project will be provided by PLA and the joint venture partners.
The deemed issue price of the above shares is $1.545 and the shares will be held in escrow for
12 months from the date of issue.
An Appendix 3B and a Secondary Trading Notice are attached."

dyor