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PLA, PLATINUM AUSTRALIA LIMITED
jeeves
post Posted: Dec 30 2011, 01:55 PM
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In Reply To: veeone's post @ Dec 21 2011, 10:07 AM

Why does the ASX not issue somebody like PLA a "Please explain" regarding the dire financial troubles thet are in. They still have not come out with an explanation why their shares have dived to the point were they cannot complete the 1st capital raising. If the company survives the next AGM there should be a spill. They have proven themselves totally incompetent. grrr.gif



Jeeves

 
veeone
post Posted: Dec 21 2011, 10:07 AM
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Platinum Australia Limited (PLA.ASX) (Company) wishes to provide an update in relation to its pro-rata renounceable rights issue of approximately 36,844,170 new shares on the basis of 1 new share for every 12 shares held on the record date of 30 November 2011 at an issue price of $0.12 per new share, to raise approximately $4,421,300 (Rights Issue).
Pursuant to clause 13.1 of the underwriting agreement between the Company and Patersons Securities Limited dated 18 November 2011 (Underwriting Agreement), Patersons has exercised its right to terminate the Underwriting Agreement as a result of the Company's share price trading on ASX on three consecutive trading days after the date the Underwriting Agreement was entered into at less than $0.12.
As a result of the termination of the Underwriting Agreement, the Company has elected to withdraw the Rights Issue and immediately return all application funds to the applicants. Any person who acquired rights who wishes to take up shares in the quantum associated with their rights holding and at the Rights Issue price should contact the Company.
The Company is investigating several capital raising initiatives and evaluating the potential impact of the withdrawal of the Rights Issue and will update the market in the course of the coming days. The Company will remain in a trading halt until such time that it is in a position to make such an announcement.

 
jeeves
post Posted: Dec 20 2011, 11:35 AM
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In Reply To: veeone's post @ Dec 20 2011, 08:52 AM

Probably means long suffering shareholders did not take up the offer to put more cash into a company that has failed to deliver on past promises.
jeeves

 
veeone
post Posted: Dec 20 2011, 08:52 AM
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In Reply To: cinos's post @ Dec 20 2011, 01:51 AM

Trading halt today regarding that cinos.....says: "further capital raising initiatives"...........V1

 
cinos
post Posted: Dec 20 2011, 01:51 AM
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In Reply To: veeone's post @ Dec 6 2011, 08:55 AM

anyone heard if the capital raising got completed , screaming buy imho

 
veeone
post Posted: Dec 6 2011, 08:55 AM
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Bank of America has upped its stake from 6.54% to 10.82% which is interesting especially the "borrowed part"! V1!

 


veeone
post Posted: Nov 29 2011, 09:36 AM
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In Reply To: jeeves's post @ Nov 29 2011, 09:20 AM

QUOTE
none of the usual graphs showing the share price.


Too embarassed i would say and that way avoids discussion when it comes up on the screen at the Agm. V1

 
jeeves
post Posted: Nov 29 2011, 09:20 AM
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Would love to be able to go to AGM and ask why this company continues to under deliver. The AGM preentation talks about what the future will bring but in no way addresses what has gone wrong in the last 12 months. I note none of the usual graphs showing the share price.

jeeves

 
jeeves
post Posted: Nov 14 2011, 08:46 AM
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PLA again looking for more cash. May be they should also be looking at some new board memebers to replace those who continue to make unfulfilled promises.

Jeeves

 
arty
post Posted: Jul 28 2011, 02:19 PM
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In Reply To: jeeves's post @ Jul 27 2011, 10:30 PM

there won't be a court case: this morning, agreement had been reached and mining operations will resume.

(Question remains though: How much cumshaw did it cost PLA to placate the natives? unsure.gif )

With the prospect of yesterday's candle proving the turning Pivot, I'm risking a small side bet on a recovery of sorts.

Attached Image





--------------------
I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
 


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