This company was at 60 cents with just drilling results of Smokey Hills in 2005 with no plant/mill built or even funding for it.
The company has double the shares on issue since then, however even during the GFC the shares were in the 30s and moved quickly up over $1 thereafter.
15 cents is a joke and an outright insult IMO, a mistake made by dodgy bankers based on a few production issues caused by restless natives and outside incompetent contractors being paid good wages.
John Le-wins is a veteran in the mining industry. Just have a look at his profile and his industry experience. He built this company up from the ground up. He is not some magician, and cannot make contractors do what they should do nor can he control natives sitting on the road outside the plant blocking it. But he can deal with the issues as a senior manager using his experience and appropriate remedial decisions and he has done just that.
I think the fund managers are easting humble pie with all this buying and so they should. Disgusting what they did to this stock. 6 cents… pfft.
PLA Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held