Not sure the argument re cap vs assets is clear yet. Certainly if there is a buyer the value of shares will appreciate significantly. Methinks all eyes are on the AGM report today which suggests Smokey Hills will start to generate a profit in the March quarter. Really, that is the end game. Failure to turn this loss making monster around within the next six months will be the end of PLA. They simply can't afford the dilution caused by endless placements at ever decreasing prices just to prop up a failing mine. However, if they turn it around before any further dilution then they won't need any more placements until they start to fund raise for the next mine. I originally dreamed new mine development would be funded by cashflow from Smokey Hills but all I dream of now is recovering my losses via an eventual move to profit at that mine before PLA needs to fold because it cant endlessly fund the accumulating losses.
PLA Price at posting:
10.5¢ Sentiment: Hold Disclosure: Held
