oversold, page-11

Hello Porthos, Nice post and I think that you echo the frustration of many of us. I went back to the Diggers and Dealers presentation, which is an excellent presentation, and to the description of the projects on the PLA website, worked out the PLA share of each project, added up all the NPV's (there was no NPV for Panton but I allocated 100 M which I consider reasonable) and divided by the number of PLA shares on issue and came up with a figure of US$1.29 per share. Since the tables were compiled by PLA the price of some PGE's have increased substantially but the forcaste recoveries at Smokey Hills have not been achieved, thus the figures are, at best, a very broad estimate. Nevertheless, my final conclusion is that the company is substantially undervalued. With a value per share for the South African pjojects around US$1 per share, it is an obvious take over target. Of course we all knew these conclusions but I needed some figures to support them. In my view the undervalued share price reflects perceived country risk and of a managment that has yet to show that it is as good a miner as it is an explorer.

I used the last of my funds to buy some more shares today.

This is not investment advice, please do your own research. I am losing heaps on PLA.