Platinum Australia Ltd

Published : June 20th, 2013

Market Update

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Keywords :   Australia | Market | Platinum |

Market Update



ASX ANNOUNCEMENT

Platinum Australia Limited (Subject to Deed of Company Arrangement)

ACN 093 417 942 ("the Company" or "PLA") 20 June 2013

ASX code: PLA

Dispute with contract miner satisfactorily resolved, merger with Jubilee Platinum plc on track for completion by mid-August

As announced to the market on 11 June 2013, the previous contract mine operator at the Smokey Hills Mine, Westdawn Investments (Proprietary) Limited t/a JIC Mining Services (JIC), issued an application for the winding up of PhokaThaba Platinum (Pty) Ltd (PhokaThaba) with respect to a dispute concerning payments under the mining contract between PhokaThaba and JIC.
The Deed Administrator is pleased to announce that a full and final settlement of all claims between the parties has been agreed under which PhoktaThaba pays JIC R3,500,000 (A$370,561) and the application by JIC has been withdrawn.
As announced by PLA on 11 June 2013, Jubilee Platinum plc (Jubilee) gave notice to PLA that it considered the application to be a "PLA Regulated Event" under the Implementation Deed. With the withdrawal of the application, any PLA Regulated Event represented by the application has now been rectified.
PLA and Jubilee remain committed to the implementation of the transaction and expect the Scheme to be implemented around mid-August.

BRYAN HUGHES Deed Administrator

Melbourne

Telephone +61 3 8610 5000

[email protected]
www.pitcher.com.au

Sydney

Telephone +61 2 9221 2099

[email protected]

Perth

Telephone +61 8 9322 2022

[email protected]

Adelaide

Telephone +61 8 8179 2800

[email protected]

Brisbane

Telephone +61 7 3220 0355 partners@pitcherpartners. com.au

Pitcher Partners is an association of independent firms.

Liability limited by a scheme approved under Professional Standards Legislation.

In Western Australia, Pitcher Partners refers to the WA Company and associated entities.

Read the rest of the article at www.noodls.com
Data and Statistics for these countries : Australia | All
Gold and Silver Prices for these countries : Australia | All

Platinum Australia Ltd

DEVELOPMENT STAGE
CODE : PLA.AX
ISIN : AU000000PLA8
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Platinum Australia is a platinum development stage company based in Australia.

Platinum Australia develops platinum, palladium and rhodium in South Africa, and holds various exploration projects in South Africa.

Its main assets in development are SMOKEY HILLS and KALPLATS in South Africa and its main exploration properties are PANTON in Australia and ROODERAND PROJECT in South Africa.

Platinum Australia is listed in Australia and in Germany. Its market capitalisation is AU$ 33.8 millions as of today (US$ 24.2 millions, € 21.5 millions).

Its stock quote reached its highest recent level on July 04, 2008 at AU$ 3.15, and its lowest recent point on March 23, 2012 at AU$ 0.06.

Platinum Australia has 504 970 016 shares outstanding.

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In the News and Medias of Platinum Australia Ltd
3/29/2006Corporate profile
Financials of Platinum Australia Ltd
6/21/2011PLA Operations Update
Project news of Platinum Australia Ltd
3/26/2012(Smokey Hills)Smokey Hills Production Update
4/13/2010New Drilling Results for the Rooderand Platinum Project
3/23/2010Further Drilling Results for the Rooderand Platinum Project
10/8/2009(Kalplats)Positive Outcome from Kalahari Platinum Project Pre Feasibil...
7/13/2009(Kalplats)Kalahari Platinum Project Updated Mineral Resouce Estimate f...
5/22/2009(Rooderand Project)Acquisition of Rooderand Platinum Project
1/27/2009(Smokey Hills)First Concentrates at the Smokey Hills Platinum Mine
11/19/2008PLA - First Drilling Results from Kalahari "Extended" Projec...
6/10/2008(Kalplats)Kalplats Project Further Wide Zones of Target Mineralisation
5/29/2008(Smokey Hills) Increases Stake in Smokey Hills Mine
5/14/2008(Kalplats)New Mineral Resource Doubles at Kalplats
5/1/2008Kalahari Platinum Project latest Drilling Results
4/29/2008(Smokey Hills)Smokey Hills Commences Draw Down on the Standard Bank Debt F...
4/1/2008(Kalplats)Wide Zones of Good Grade Mineralisation Identified in the Ne...
3/11/2008(Smokey Hills)Diesel Generators Ordered for Smokey Hills Platinum Mine
3/5/2008GR Engineering Services awarded contract for the Updated Fea...
2/27/2008(Smokey Hills)SMOKEY HILLS SITE WORKS PROGRESSING, OPEN PIT MINING COMMENC...
2/26/2008(Kalplats)Latest Drilling Results from Kalplats Continue to Identify W...
1/29/2008(Kalplats)32 Metres @ 5.86g/t 3E PGM intersected at Kalplats drilling
1/10/2008(Kalplats)Further Kalplats Drilling Results
12/11/2007(Smokey Hills)Concentrate Offtake Agreement signed with Impala for Smokey ...
12/4/2007(Kalplats)Latest Results from Drilling at Kalplats
Corporate news of Platinum Australia Ltd
10/28/2013Financial Reporting Relief
6/20/2013Market Update
6/11/2013Merger of PLA with Jubilee Platinum plc - Extension to finan...
6/11/2013Merger of PLA with Jubilee Platinum plc - Market Update
5/28/2013Merger of PLA with Jubilee Platinum plc - Market Update
1/16/2013Platinum Australia Limited (Subject to Deed of Company Arran...
12/24/2012Platinum Australia Limited (Subject to Deed of Company Arran...
12/19/2012Platinum Australia Limited (Subject to Deed of Company Arran...
1/12/2012(Smokey Hills)PLA Moving to Owner Operator Mining at Smokey Hills
12/21/2011Rights Issue and Capital Raising Update
12/15/2011News Release
6/7/2011(Smokey Hills)Smokey Hills Operations Update
5/26/2011Positive Outcome from Rooderand Pre Feasibility Study
3/3/2011(Smokey Hills)Smokey Hills - Operations Update
2/28/2011Half Year Report as at 31 December 2010
7/29/2010Quarterly Report to Shareholders for the period ended 30 Jun...
7/1/2010An Update by Bell Potter
11/24/2009Prospecting Rights Issued for the Rooderand Platinum Project
10/29/2009Quarterly Report for the period ended 30 Sept 2009
10/13/2009Kalahari Platinum Project - New Mineral Resource Estimate fo...
10/8/2009Settlement of Placement
9/15/2009Standard Bank of South Africa Loan Settlement
8/24/2009ASX/AIM Announcement
8/7/2009The New Australian Platinum Producer
7/13/2009Settlement of Placement
7/7/2009Shareholders Update - Positioning our Company for Growth
5/28/2009Successful Placement to Raise A$61.2M
3/10/2009Half Year Report as at 31 December 2008
8/11/2008Kalahari Platinum - Latest Results
7/30/2008Quarterly Report to Shareholders for the Period Ended 30 Jun...
6/17/2008PLA issued Prospecting Right for Further Kalahari Extension
4/30/2008Quarterly Report to Shareholders for the period ended 31 Mar...
1/31/2008Quarterly Report for the period ended 31 December 2007
11/27/2007Crater Deposit Mineral Resource Increased by 16% at Kalahari...
11/26/2007Construction Commences on the Smokey Hills Project
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AUSTRALIA (PLA.AX)BERLIN (PTL.BE)
0.067+0.00%0.550-57.36%
AUSTRALIA
AU$ 0.067
08/31 07:58 -
0%
Prev close Open
0.067 -
Low High
0.067 0.067
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.067 -%
Volume 1 month var.
0 -%
24hGold TrendPower© : -21
Produces
Develops Platinum
Explores for Gold - Palladium - Platinum
 
 
 
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