Australian (ASX) Stock Market Forum

PLA - Platinum Australia

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fatmango said:
Anyone have any thoughts on the recent falls in SP? I thought my purchase at .77 was a good buy in!
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I thought PLA was a good buy too. I bought in at $1.20 and I am crying all the way to the poor house. This stock is a dog. I will not invest in anything to do with Africa anymore. That place has gone to the dogs.

Twenty years ago mining in South Africa (SA) was on par with Australia. That place had lots of resources just like OZ but since the natives took over the mining game in SA has taken a nosedive for the worst.

I see a lot of white African migrants in Oz and lots of them in mining, SA's loss is Australia's gain. Such a pity because I have been told SA is a beautiful place and very rich in natural resources but since the natives have taken over crime and corruption and something for nothing attitude have destroyed the place.

Anyone from that part of the world want to comment?
 
fatmango said:
Anyone have any thoughts on the recent falls in SP? I thought my purchase at .77 was a good buy in!
Click to expand...
I thought buying at 42 wasn't too bad; but may have to change my mind as well.
Vincent's outspoken lament may not sound "politically correct" to some, but when checking facts, a considerable amount of "Sovereign Risk" does become apparent.

PLA 01-06-11.gif

So far, I'm still holding - more nilly than willy because my phone line had been flooded; may yet turn out reasonably profitable, given the general direction of PMs.
 
I think what Vincent was saying is that recent migration trends and a lack of progress in the South African education system has led to shortages in skilled workers, particularly in the management sector. As a result many companies are experiencing 'structural' difficulties. I too will think more carefully about investing in South African mining ventures. I guess I will just sit and hope the situation improves. Platinum prices are certainly at good levels.:cool:
 
pixel said:
I thought buying at 42 wasn't too bad; but may have to change my mind as well.
Vincent's outspoken lament may not sound "politically correct" to some, but when checking facts, a considerable amount of "Sovereign Risk" does become apparent.
Click to expand...

Thanks for your understanding reply,I invest in stocks for capital gain not to be politically correct. If what I think is happening is the truth then it needs to be discussed. I am asking those from South Africa for a candid opinion. Has SA gone backwards in the last 20 years??

Besides PLA I also hold other mining stocks in Africa and it had been one disaster after the next. The other stock that I hold have to give 20% of it's equity to the natives hor free and they are experiencing all sorts of labour problems, strikes and violence.

Labour problems are not limited to PLA alone. Other miners like Anglo also had it's fair share of disruptions. It seems to me that the current social & political climate must be taken into account when investing in Africa.
 
vincent191 said:
I thought PLA was a good buy too. I bought in at $1.20 and I am crying all the way to the poor house. This stock is a dog. I will not invest in anything to do with Africa anymore. That place has gone to the dogs.

Twenty years ago mining in South Africa (SA) was on par with Australia. That place had lots of resources just like OZ but since the natives took over the mining game in SA has taken a nosedive for the worst.

I see a lot of white African migrants in Oz and lots of them in mining, SA's loss is Australia's gain. Such a pity because I have been told SA is a beautiful place and very rich in natural resources but since the natives have taken over crime and corruption and something for nothing attitude have destroyed the place.

Anyone from that part of the world want to comment?
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your generalising

africa is full of opportunity and splendour.. to tar the whole place with one bush on the face of your emotions is demonstrating how you deal with your decisions.. i dont entirely agree

i invested at .11 and sold at $3

been accumulating again in the recent months

the risk of course is how pla deals with this ongoing strike, and if they can get support form the locals and project that to the market, imho the situation will change.

downside is of course the locals continue to kill mine employees, (whites) and drag their bodies around the streets in celebration..

its on a knifes edge, if you cant ensure the safety of the mine, the mine may be in jeapordy

my view is that the local leaders of the community will be keen to support to operations of the mine, and once pla demonstrates that, the situation may be defused

otherwise, the accumulation of pla will prove to be a less that stellar performer..

wish me luck!!
 
closure

with the closing of the South African mine it is hard to see the SP coming back to the levels many bought in. Any ideas, thoughts out there re the future of the this stock. Is it one to put away and forget for a couple of years?
 
Re: closure

fatmango said:
with the closing of the South African mine it is hard to see the SP coming back to the levels many bought in. Any ideas, thoughts out there re the future of the this stock. Is it one to put away and forget for a couple of years?
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If "put away" means holding, I don't think I'll do that.
I've put my holding out of its misery as soon as it failed to perform. Even if it were to hold 29c, I'd think twice about a re-entry. Without a mine operation, they're nothing.

Of course platinum is a valuable metal, and resource stocks that have Pl in their mix should be part of a resource-oriented portfolio. I've taken a position in NKP; it seems they're benefiting from PLA's woes.

PLA n 26-07-11.gif
 
Re: closure

fatmango said:
with the closing of the South African mine it is hard to see the SP coming back to the levels many bought in. Any ideas, thoughts out there re the future of the this stock. Is it one to put away and forget for a couple of years?
Click to expand...

There isn't a more "cursed" company on the ASX. Sure they operate in a politically volatile country but they've just about hit every country risks conceivable.

Not everything is attributable to management, but I run away from them just in case some bad luck rubbing off...
 
small progress in Smokey Hill mine, but a long way to go yet. I notice there are a number of trades on this stock every day (123 today) but the price appears to be heading down and down. People are buying, but I am not sure why. Glass half full people!?
 
Re: closure

skc said:
There isn't a more "cursed" company on the ASX. Sure they operate in a politically volatile country but they've just about hit every country risks conceivable.

Not everything is attributable to management, but I run away from them just in case some bad luck rubbing off...
Click to expand...

Had myself a buy order ready to go at 6.2c with stop at 5.8c, then a little voice in my head telling me this stock is cursed...

And that's how you miss a 12 R trade in 2 days. :banghead: :banghead:
 
A quick look of PLA chart only the name is Platinum at the moment.
But I suppose you can still make money of that.
 
Pew Pew, Jog on Platinum.

big volume, break above 14 cents will be the test right? :eek:
 
Re: closure

skc said:
Had myself a buy order ready to go at 6.2c with stop at 5.8c, then a little voice in my head telling me this stock is cursed...

And that's how you miss a 12 R trade in 2 days. :banghead: :banghead:
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Temporarily cursed with huge operational probs, but since have turned around to own the mine at Smokey outright with production on the rise also lookin for JV in Panton WA. World car production on the rise to 'slightly' soaring and huge want for platinum with supply from other mines in SA down from industrial probs! Platinum price looking v good and moving upwards to best gold in the market and appears big accumulation in this stock! bought all I could at around $0.11, medium term this looks v good!
 
PLA officially on trend watch!!

Needs break of 14c and 18c and start of new trend.

Quite possibly have bottom. 5 months of sideways trading, just my style.

Any chartists wish to comment?

Looking at the 1 year chart, looking good!
 
10% jump today.....not bad considering the current market. Bought back in at .079. Long way off my original 77c lol but I hopefully can claw a little back with some trading. Not a trader but hoping to learn from my mistakes here.
 
Re: closure

skc said:
Had myself a buy order ready to go at 6.2c with stop at 5.8c, then a little voice in my head telling me this stock is cursed...

And that's how you miss a 12 R trade in 2 days. :banghead: :banghead:
Click to expand...

That's why one should only ever quick trade a stock like PLA - or the curse will rub off and have you holding when they put their main asset into care and maintenance.

And care and maintenance means the company won't do any real productive work but the Board and management will still get paid. I expect a savage opening followed by the share price retracing at the same rate as salary expense.

For holders I hope I am wrong.
 
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