One more teardrop | PLG Message Board Posts

Platinum Group Metals Ltd.

  PLG website

  •  Registered Members of Investor Village:
    Please make sure you are signed in to your Investor Village account to enjoy the full benefits of our service and avoid the MediaPass paywall. If the MediaPass offer page is blocking you, click the light blue "No thanks, take me back" link on the middle right side of the form to get to our home page where you can sign in by entering your Investor Village User Name and Password. 

     MediaPass subscribers: Please make sure you are logged in to your MediaPass subscription to bypass the paywall. You can do this by clicking the light blue "Already have a MediaPass account? Login here" link on the middle left side of the subscription offer form and then entering the email address and password you used when you first signed up with MediaPass.  

    For assistance call 888-222-7309 or email

PLG   /  Message Board  /  Read Message



Rec'd By
Authored By
Minimum Recs
Previous Message  Next Message   Post Message   Post a Reply return to message boardtop of board
Msg  8680 of 8689  at  11/22/2013 9:12:28 AM  by


One more teardrop

To be clear, I am not bashing PLG, in fact it I hope it makes a fortune.  I am commenting here on the PGM market in SoAf in general.
Asked for comments on their prospective markets, MiningMx talked to various CEOs representing differing sectors.  Here's what Stuart Murray, CEO of Sylvania Resources (and ex-CEO of Aquarius Platinum) had to say about 2014 for the PGM miners:
Stuart Murray, chairman, Sylvania Resources
“Between 70% to 90% has been lost in the platinum sector in the last five years; it’s a pretty awful place to be. Cash costs are up 65% in five years; operating margins are gone from 45% to nil.
“You have to look at management: did they protect margins or shareholders? I think they did pretty damn little. There’s been a lot of cross-subsidisation where good metal has been used to subsidise bad metal. Now there is no low cost production in South Africa.
“Management has to find a way of balancing supply and demand as well as sensibly deploy capital. There’s also a fear that the platinum ETF – which has sucked in R11bn in local money at the expense of platinum equities – is creating a situation of significant above-ground inventories”.
Veritas Rating:
There’s not a crumb of comfort in Murray’s assessment. Murray’s critique is that the platinum sector followed a path of irresponsible, unstinting growth at the expense of shareholders.
As the CEO of Aquarius Platinum for nearly 12 years until he quit in October 2012, he was parsimonious with funds and therefore feels as if the major mining companies have mucked up the market for everyone else. In short, supply has to fall to allow a deficit, and upward price pressure, to return.
His view is a painful restructuring of the platinum industry has still to occur before it can seriously tempt investors back.
You can read the full article here:  5 miners say why 2014 will be better (or worse)

     e-mail to a friend      printer-friendly     add to library      
| More
Recs: 1     Views: 710
Previous Message  Next Message   Post Message   Post a Reply return to message boardtop of board

About Us  •  Contact Us  •  Follow Us on Twitter  •  Members Directory  •  Help Center  •  Advertise
Not a member yet? What are you waiting for? Create Account
Want to contribute? Support InvestorVillage by donating
© 2003-2019 All rights reserved. User Agreement
Financial Market Data provided by