Amen brother! Cannot believe gold is less than $100 an ounce less than PT. From my understanding gold production is at the same level and PT is continuing to be shut in.
March 11, 2014
The world's largest platinum-backed ETF, NewPlat ETF reported an inflow of around 4,000 ounces on Monday, taking its holdings to a near seven-week high at 908,811 ounces.
On the same day, London-based ETFS Physical Platinum reported an inflow of 4,505 ounces, taking its holdings to just under 325,000 ounces.
Very much appreciate your opinion. I picked up up some more PLG yesterday. The more I read regarding SA government the more I become concerned. I think I will stick with PLG and try to take your good advice;Patience. Thanks again,
Meanwhile, Wesizwe on Thursday also announced that it expected to report a basic loss a share for the year ended December 31, 2013, of between 0.52c and 0.58c, compared with basic earnings a share of 0.60c for the previous comparable period.
Further, headline loss a share for the year ended December 31, 2013, was expected to be between 0.63c and 0.69c, compared with headline earnings a share of 0.70c for the previous comparable period.
Chinese Car Sales Jump 18% as Japan Brands Extend Rebound.
Wholesale deliveries of cars, multipurpose and sport utility vehicles climbed to 1.31 million units in February, the state-backed China Association of Automobile Manufacturers said today. That compares with the 1.27 million units median estimate of five analysts.
Agree-dt. But this market is not based on rationality. Strike in SA- no effect on PLG. They have a 2 year contract and their mining will be mainly mechanized. China exports drop significantly- they don't have any exports involving PT or PD. 2 things explain the drop in my opinion.1) Timeframe for Waterburg is 2-3 years out. 2) Jones not even allowing other miners to look at waterburg (for a sale). As he said in 30 years he has not seen anything that comes close to Waterburg. And I can't even think of putting a price on the value of the property. It would be wrong to consider selling Waterburg until we have a full valuation of the property.
Just kidding. Only info I can find is "The National Union of Metalworkers of SA (Numsa) will demand a double-digit wage increase, deputy general secretary Karl Cloete said on Wednesday. " from mining weekly. Wonder if people are getting them confused with NUM- National Union of mineworkers. Have a 2 year contract with NUM and good employer/employee relations.
Another thing that bothers me is the reporting of low inflation. My healthcare, energy, food and misc. prices have increased between 10-15% last 2 years. An example I like to use is bought a new craftsman lawnmower 2 years ago. Replaced one that I had for 16 years. Original one was well built out of steel. This new one is mostly plastic and #$%$ parts. Prices may be only slightly higher but quality is much lower. I'll be lucky to get 8 years out of this new one. Hamburger cost about the same but I can read the paper through my Whopper. Think they put too much emphasis on electronics and should start to include food and energy.
I have been using TZA to hedge because of the high p/e ratios in the etf. Its 3x short the Russell. I think the export #'s confirm the retail slowdown in the US. I still don't think they have considered the drop off of the unemployed, drop in food stamps and healthcare costs on the retail investor. In Augusta Ga just don't see anything but more for sale signs on small businesses and a lot of Doctors retiring. Even the Walmart parking lot is a bit barren.GL
Price action of PLG and Pt are puzzling. China exports were way down, but they don't export in regards to Pt products.AMCU and miners are not at the table, only news is waiting on a court decision on strike legitimacy. Supply is shrinking and Waterburg looks great. Guess will load back up at $1.15.
Jones said something about that at the BMO conference. Because they (Eskom) have built a substation close to the mine he did not forsee any power problems. But this is a different problem so I'm not sure.
Mediation talks to end the strike in the platinum mining sector have been adjourned, the Commission for Conciliation, Mediation and Arbitration (CCMA) said on Wednesday.
This thing is not even close. AMCU adjusted their demands for the doubling of underground miners to be implemented over 3 years. Only movement. Still the miners are at a 9% increase vs the unions 100% increase. Glad PLG has contracts with NUM union for 2 years.
To me that was an important bit of information. I hope they succeed in the lowering of W's interest %. I believe its being mediated whether 5% or 3.5%. Of course it should be less for every dollar spent on Bushveld. Now the question is where the additional funding will come from. With Waterburg value increasing with every PEA there will be more interest in this property. I read where Implatts is looking to get back into mechanized mining. I can't remember whether if was Lomins or Implatts that tried it earlier. GL longs