"PLA a couple of years ago was a big Platinum miner. The Fifth largest in the world. There were just two distinctions between the top 4 & PLA. 1. All the top 4 had their own processing and smelting plants, PLA did not, they just had mines, no processiong / refining capability. 2. All the 4 major Platinum miners had 2 kinds of Platinum resourses, (a) Merensky which is sulphide based and which had low chromites which they can process in their processors(a 30+ yr old Technology) which is 45% of the total ore body in SA (b) UG2 Ore which is low in sulphides high in Chromites which the 4 largest Platinum miners avoid and put a penalty on these small cap miners who ask them to process called "Chrome penalty" which starts at 8.7% of the revenues and grows exponentially with the chromite concentration PLA has only one kind of resource : UG2 which none of the majors can process, but if they do their 1 billion USD processor blows up into dust and taking at least 30 other humans with it So PLA had no off take arrangements and ultimately had to go into administration in June 2012 Now a microcap PGM miner is taking over the fifth largest major (who is in administration) and no one can believe it, Will You?"
PLA Price at posting:
6.7¢ Sentiment: None Disclosure: Held
