PLA's collapse came with little warning. In March it declared...

PLA's collapse came with little warning. In March it declared the move to owner-operated mining at Smokey Hills was progressing well and forecast positive cash flows would be generated by the June quarter. It has raised A$4,1m in an oversubscribed share issue and another A$5m by selling the Panton Project in Australia.

After a query from the ASX about unusual share movements in June, PLA said there was no reason for it, but admitted it was "assessing its capital requirements".