An amount of R106,000,000 ($14,648,977) included in short term deposits is held by Macquarie Bank Limited as security against a bank guarantee issued by Macquarie Bank Limited in favour of Phokathaba Platinum (Pty) Ltd’s former Mining contractor, pending the outcome of arbitration proceedings referred to in Note 23, Contingent Liability.
Last quarterly showed cash at $14.8mil
This resolution will cost $10.1mil
My guess PLA has no cash left!
PLA Price at posting:
6.7¢ Sentiment: None Disclosure: Held