Now PlA mentioned it is considering a chinese investor.I just...

Now PlA mentioned it is considering a chinese investor.

I just found Chinese Jinchuan Group tookover south Africa Wesizwe Platinum Ltd at USD$878 million one and half years ago. I believe Jinchuan is still one of few candidates this time.

Jinchuan--JNMC is the largest producer of nickel and PGM’s in China and the largest producer of refined copper in Northern China.

Now PLA's $33m MC can attract some takeover interests as well, which is much lower than the constructure costs. I donot know how far is it from Smokey hill to Wesizwe Platinum Ltd's project, if it's close, PLA's plant asset is worth much more than current MC for JNMC.


Quote:

http://www.cnmining.org/newsview-3747.html

Wesizwe Platinum Ltd., the South African platinum explorer, agreed to a takeover for about $878 million by Jinchuan Group Ltd. and China-Africa Development Fund to help pay for its Frischgewaagd-Ledig project in South Africa.


The two companies will pay $227.5 million for a 51 percent equity stake and provide $650 million in loans to finance the Frischgewaagd-Ledig project, Johannesburg-based Wesizwe said in a statement today. Wesizwe said the offer values it at 2.07 rand a share. They were at 2.18 rand at 9:20 a.m. in Johannesburg.



The agreement "will provide Wesizwe with the financial muscle to enable it to examine future growth opportunities," Michael Solomon, chief executive officer of Wesizwe, said in an e-mailed statement.



Wesizwe on Oct. 27 said it was considering three opportunities that would affect future funding and strategy. The company has been trying to raise money to build a mine at the Frischgewaagd-Ledig project in the country's North West province.



Chinese companies in 2009 signed deals worth at least $600 million in Namibia, Ghana, Kenya and Mozambique, according to Bloomberg data.