PGM - Platina Resources

[pixel]

hmmm, that rally went much further than I'd thought, but as I was "occupied elsewhere" at the time and couldn't watch it, the cash felt safer in the Bank.
Meanwhile, we have found what looks like solid support. and I'm back on board.
Started buying earlier this week and keep topping up. Once the momentum line crosses above zero, the best buy price is usually history. Today's price and volume increase is pretty likely to achieve just that.

 

[pixel]

hmmm, that rally went much further than I'd thought, but as I was "occupied elsewhere" at the time and couldn't watch it, the cash felt safer in the Bank.
Meanwhile, we have found what looks like solid support. and I'm back on board.
Started buying earlier this week and keep topping up. Once the momentum line crosses above zero, the best buy price is usually history. Today's price and volume increase is pretty likely to achieve just that.

View attachment 85015

Wrong
The gaps are too attractive, it seems. At least the upper one has today been closed, and short-term MACD suggests support. While that holds, I hold my position; a break towards the lower gap could well spook the Market and lead to more panic selling.

 

[pixel]

Having closed the upper gap, PGM didn't stop there, but dropped down into the lower one, yet without fully closing it. That leaves some doubt about the future direction.
At this stage, we only have a Lower High followed by a Lower Low. The hope from MACD's Bullishness has also dissipated, so it's back to "W8NC" (wait 'n' see )

 

[aus_trader]

Wow, this stock hasn't been in coverage since it's last post by Pixel back in the days.

It's been out of favour for several years, but I think it may put on some short term gains if there is a rush of funds back to Precious metals.

 

[Dona Ferentes]

It's been out of favour for several years, but I think it may put on some short term gains if there is a rush of funds back to Precious metals.

You rag that bell @aus_trader . But PGM making another run since dipping to 1.2c in the dark days of late March. Now 4.5c

Raised $900K in June to keep poking around; Munni Munni or the new Gold story Challa

 

[derangedlawyer]

This stock is still underperforming signfiicantly in relation to platinum.
Anyone can advise on what's going on?
Noticed back in the days it traded up to $1.57 now not even a 30th of that.

 

[finicky]

Interesting long term chart?. PGM rallied over 20% yesterday on more than 8M volume. Commentary elsewhere claimed that market cap was higher than the value of its cash plus 49M shares it holds in a Canadian company with code SIZE which has a large Palladium (equivalent) resource. There are also other projects that PGM owns itself that might turn into goers, including gold exploration near Mt Magnet. PGM has done a good job of avoiding too much dilution and subsequent share consolidation scams by selling down its equity holdings in other companies - reminds me of Chalice (CHN) in this respect. However, market cap of PGM would be close to asset value after yesterday's move.

Obviously I have done no indepth. Just thought the chart was interesting with the strong recent volume after the possibly 'harbinger' volume at the the time in 2017 that @pixel was drawing attention to the stock. The price has been encroaching on the narrowed upper bollinger line. Potential multi-year base?

Not held
Not buying

Monthly

 

[Dona Ferentes]

this is interesting... RIO accounts for 20 per cent of global Scandium production.

Platina sells scandium project for up to US$14 million.

Platina Resources Limited is expected to realise up to US$14 million (~A$21million*) in cash from the sale of its wholly owned Platina Scandium Project after signing a binding sale agreement with a wholly owned subsidiary of Rio Tinto Ltd, Rio Tinto EN21 Op Co Pty Limited.

...On closing, Platina will receive US$8 million cash (~Ã$12 million) less a US$1 million warranty retention payment which is re-payable by Rio Tinto after 30 months. Platina may also receive future cash payments totalling US$6 million (~A$9 million) subject to Rio Tinto achieving project milestones including granting of a Mining Lease.

Platina has managed the sale process internally and no corporate advisory or success fees are payable with the transaction.

Platina Managing Director, Mr Corey Nolan, said the sale unlocked value in the project where Platina had made a considerable investment advancing the project through exploration to the Definitive Feasibility Study stage.

“The transaction with Rio Tinto is congruent with Platina’s strategy of advancing projects along the value chain and monetising when a new combination of technical, market or financial capability is required. This enables projects to achieve optimal scale, minimises Platina’s capital outlay and accelerates returns to investors,” MD Corey Nolan said.

“Platina discovered the scandium resource in 2011 as part of an exploration program for platinum and nickel/cobalt. Platina has advanced the project over the last 12 years through geological, metallurgical and engineering studies to the point where its value has been recognised by one of the world’s largest and leading natural resource companies."