Folks remember that the PGM metals, as well as PLA and SWC stocks, experience a correction starting on March 5th, when it was said that ESKOM promised to raise power supply to the PGM mining industry from 90% to 95%. So every analyst celebrated. Power crisis in South Africa fixed, all is well i La La land.
This should always benefit PAL and SWC. On March 6th, South Africa announced that they are trying to cut every one else's power supply and ramp up power supply to precious metals mining companys from 90% to 95%. The idiots in the market place figured that solved the South Africa electricity crisis and production should boost. So that was the sell off of the metals and PAL/SWC falled down as a result.
So now, it looks like the PGM mines never actually got the 95% power they were promised, the March 6th news was nothing but am empty promise, as I asserted at that time. Shouldn't the oversold metal then rally again, bringing up PAL and SWC?
You were in the middle of trying to get cash out of an ATM machine, and power shed hits, you are stuch with your money, and your ATM card half way still stucked in the machine. Do you stay there for 8 hours, or walk away and some one else took all your money when teh power resumes?
No reasonable people will take this crap any more, ESKOM is load shedding every one but gives guaranteed power supply to PGM mines. It can not get away with that crap.