LATEST DRILLING RESULTS CONTINUE TO CONFIRM PLA'S 3M OUNCE OPEN PIT TARGET FOR KALPLATS

Initial Phase Will Allow Updated Resource Estimate For Five Deposits By Mid-Year

Estimate For Entire Project After Completion Of Second Phase In October

Suggestions Of Thick And Possibly Duplicated Reef Structures At Sirius Deposit

The latest results from the resource definition drilling programme being undertaken by Platinum Australia Limited (ASX: PLA, AIM: PLAA) on the Kalahari Platinum (Kalplats) project in South Africa have extended the mineralisation at both Serpens North and Serpens South deposits. These are two of seven known deposits, together with three other prospects, identified over a 12km strike length of the Stella Layered Intrusive (SLI) structure and outlined to a depth of approximately 150m below surface. All appear to be open at depth and along strike.

This initial 20,000m drilling programme, due to be completed shortly, is designed to update the resource estimate for the Serpens North & South and Sirius deposits and to provide additional information on the extent of the Crater and Crux deposits. An updated resource estimate for these deposits should then be completed by June.

The programme will continue with a second phase of drilling, comprising a further 25,000m and scheduled for completion by October. This will enable an updated resource estimate to be established for the whole Kalplats project, including evaluation of the three known mineralised prospects - Scorpio, Pointer and Tucana.

Commenting today, PLA managing director Mr John Lewins said: "These results continue to confirm our open pit target for the Kalplats project of up to 3m ounces of 3E PGM (platinum, palladium and gold) to a depth of approximately 200m. In addition, the first results from the Sirius deposit confirm those from some of the previous drilling which identified unusually thick reef intersections and possible duplication of the reefs."

Although the 3m ounce target is conceptual and does not imply that a mineral resource has been or will be defined at Kalplats, PLA says that the results from the current drilling programme have significantly increased confidence in the potential of the project to achieve this target.

The Kalplats project, located 330km west of Johannesburg, is a joint venture with African Rainbow Minerals Platinum (ARMplatinum) in which PLA is earning a 49p.c. interest by completing a bankable feasibility study and providing the right for the project to use the patented Panton metallurgical process to treat the ore. The BFS is due to be completed by the end of 2007.

The project currently has indicated and inferred resource of 3.4m ounces 3E PGM, including a high grade component of 1.4m ounces 3E PGM, contained within seven separate deposits over a 12km strike length of the SLI. However, PLA believes there to be significant potential to increase these resources as all the deposits are open at depth and along strike. Geochemical surveys and a high-resolution aeromagnetic survey completed by PLA have also identified a number of additional targets within the SLI for further investigation.

As part of the JV with ARMplatinum, the two companies have applied for a prospecting right covering an area extending approximately 20km to the north and 18km to the south of the Kalplats project area, increasing the total strike length held over the Stella Layered Intrusion to almost 50km. Each company will have a 50p.c. contributing interest in the new area, and PLA will manage exploration which will target extensions of the known "Kalplats style" PGM mineralisation.

Significant results (3E PGM) from the latest drilling include:

Serpens North
8m of 2.40g/t from 50m and 6m of 3.97g/t from 68m in same hole 8m of 1.73g/t from 107m 2m of 2.92g/t from 22m and 5m of 3.51g/t from 39m in same hole 4m of 3.23g/t from 5m 2m of 2.29g/t from 23m, 2m of 4.21g/t from 31m and 4m of 7.17g/t from 39m (including 1m of 14.89g/t) in same hole 3m of 3.88g/t from 48m and 1m of 3.81g/t from 54m in same hole

Serpens South
9m of 2.11g/t from 54m (including 4m of 3.31g/t) and 3m of 2.64g/t from 70m in same hole 4m of 5.80g/t from 30m 3m of 3.92g/t from 153m 2m of 5.44g/t from 73m and 2m of 2.34g/t from 86m in same hole

Crater
4.55m of 4.44g/t from 118m (including 1m of 9.02g/t) 5.52m of 1.73g/t from 153m, 1.72m of 3.53g/t from 160.5m and 8m of 2.83g/t from 166m (including 1m of 8.80g/t) in same hole 3m of 3.47g/t from 78m

Sirius
3m of 2.57g/t from 6m, 3m of 2.52g/t from 16m and 8m of 3.42g/t from 39m (including 1m of 5.36g/t) in same hole




Platinum Australia Limited
11 April 2007


NEW ORDER RIGHT ISSUED FOR KALAHARI 'EXTENDED' PLATINUM PROJECT

Platinum Australia Limited (ASX:PLA) (AIM:PLAA) is pleased to announce that a
New Order Prospecting Right has been issued for the company's Kalahari
'Extended' Platinum ('Kalplats') Project (PLA 50% : ARMplatinum 50%). The
'Extended' Project covers an area approximately 20 kilometres to the north and
18 kilometres to the south of the Kalahari Platinum Project ('Kalplats') area,

The issue of the Right allows PLA to immediately commence exploration works
including a detailed aeromagnetic survey and geochemical sampling program on the
project area.

PLA Managing Director John Lewins said: 'With the issue of this Prospecting
Right the joint venture partners now have a combined project with almost 50
kilometres of potential strike length. This makes the project one of the largest
PGM projects in South Africa in terms of potential strike length.'

'We have recently announced the latest drilling results from the resource
drilling program on the Kalplats Project which continue to confirm our open pit
target for the Kalplats Project of up to 3 million ounces 3E PGM to a depth of
approximately 200 metres below surface. We have now almost completed the first
phase of this drilling program which should enable us to complete an updated
resource estimate for the project in June with a further updated resource due at
the end of 2007 as part of the Bankable Feasibility Study on the project.'

'PLA believes that the 'extended' area has significant potential to host
extensions of the known Kalplats style of PGM mineralisation.'

While the 3 million ounce 3E PGM target is of a conceptual nature and does not
imply that a mineral resource has been or will be defined, the results from the
current drilling have significantly increased the Board's confidence in the
potential of the project to achieve this.

Kalplats PGM Project
The Kalplats PGM Project is located 330km west of Johannesburg and has an
established Indicated & Inferred resource of 3.4 million ounces 3E PGM (platinum
+ palladium + gold), including a high grade Indicated & Inferred resource of 1.4
million ounces 3E PGM (12 Million tonnes at a grade of 3.6 g/t 3E PGM) in seven
identified deposits to an average depth of approximately 150 metres below
surface. PLA believes that there is significant potential to increase the size
of this resource as all deposits appear to be open at depth and along strike. In
addition a number of other targets have been identified from geochemical survey
work and a high resolution aeromagnetic survey completed by PLA.

Under the Kalplats Joint Venture Agreement, PLA is earning up to 49% of the
Kalplats Project from African Rainbow Minerals Platinum (Pty) Ltd
('ARMplatinum') by completing a Bankable Feasibility Study including further
drilling and providing the right for the project to use the Panton metallurgical
process ('Panton Process').

As part of the Joint Venture PLA and ARMplatinum have also obtained a
Prospecting Right covering an area approximately 20 kilometres to the north and
18 kilometres to the south of the Kalplats Project area, increasing the total
strike length held by the parties to almost 50 kilometres. PLA and ARMplatinum
each have a 50 percent contributing interest in the new area and PLA will manage
the exploration program which will target extensions of the known Kalplats style
of PGM mineralisation.

PLA is due to complete a Bankable Feasibility Study on the Kalplats Project by
end of 2007 which will include approximately 45,000 metres of RC and diamond
drilling. By the end of March PLA had completed over 17,000 metres of drilling.

certainly seems to have got some fire under it at the moment.
confess am puzzled or even concerned that NMS is only 2000 though cap is ok (small but not minute) at 95m.

real caveat of course is per the xtract herewith ...... While the 3 million ounce 3E PGM target is of a conceptual nature and does not
imply that a mineral resource has been or will be defined, the results from the
current drilling have significantly increased the Board's confidence in the
potential of the project to achieve this.


for myself, i have enough mining/oil stocks, and indeed a full enough portfolio for the moment

quite so ...... but now where?

1 - where else?

IMHO 6 in 2009.

Market makers normally showing 10,000 on the book. Was able to buy this quantity last week but can't buy any today through SelfTrade on-line.

4 key points:-
Shallow depth (Kalplats) - all significant resources counted so far within 200m below surface
Near vertical orebody (Kalplats) - very cheap and easy mining c.$225 per oz. vs current $850 per oz. 4E PGM
Incredible extent (Kalplats) - commercial over known 12km - now 50 km available
About to turn into a producer (Smokey Hills) - price uplift imminent

Blue sky? - Haven't even tried to sample below 200m below surface

Plenty of buys today

100P ON THE WAY SOON.

PLAA LOOKS CHEAP.

The Smokey Hills and Kalahari mines will generate base case cashflow of 107p per share during their 7 and 10 year respective mine lives. That figure rises to 278p when calculated on current metal prices and exchange rates. That is an upside of 123% - 479% based on these two assets alone. There is a solid investment case without even considering the potential of the Panton mine and the licensing of the breakthrough Panton Process.

Platinum Australia Limited
23 May 2007

AIM Release

NEW PGM MINERALISATION IDENTIFIED IN REEFS OUTSIDE OF KNOWN DEPOSITS FROM DRILLING AT THE KALAHARI PLATINUM PROJECT

Platinum Australia Limited (ASX: PLA) (AIM: PLAA) is pleased to announce that
the latest results from the resource definition drilling program on the Kalahari
Platinum ('Kalplats') Project (PLA earning 49% from ARMplatinum) have defined
PGM mineralisation in reefs at the Scorpio Prospect and also in the gap between
the Serpens South and Crux Deposits.

PLA Managing Director John Lewins said: 'We are extremely encouraged by the
first results from our drilling at the Scorpio Prospect, which has identified a
series of PGM reefs apparently continuous over the 300 metre strike length so
far drilled. Further drilling is now planned along the entire plus 1,000 metre
strike length of the prospect. In addition the first drilling in the middle of
the 800 metres wide gap between the Serpens South and Crux Deposits has
identified two reef structures, the best of which returned results of 8 metres @
4.83 g/t 3E PGM.'

'Further drilling results have also been received from the Sirius Deposit, a
number of which have confirmed results from some of the previous drilling which
identified unusually thick reef intersections and possible duplication of the
reefs.'

Kalahari Platinum Project

The Kalplats PGM Project is located 330km west of Johannesburg and has an
established Indicated & Inferred resource of 3.4 million ounces 3E PGM (platinum
+ palladium + gold), including a high grade Indicated & Inferred resource of 1.4
million ounces 3E PGM (12 Million tonnes at a grade of 3.6 g/t 3E PGM) in seven
identified deposits to an average depth of approximately 150 metres below
surface. PLA believes that there is significant potential to increase the size
of this resource as all deposits appear to be open at depth and along strike. In
addition a number of other targets have been identified from geochemical survey
work and a high resolution aeromagnetic survey completed by PLA.

Under the Kalplats Joint Venture Agreement, PLA is earning up to 49% of the
Kalplats Project from African Rainbow Minerals Platinum (Pty) Ltd
('ARMplatinum ') by completing a Bankable Feasibility Study including further
drilling and providing the right for the project to use the Panton metallurgical
process ('Panton Process').

As part of the Joint Venture, ARMplatinum has also obtained a Prospecting Right
covering an area approximately 20 kilometres to the north and 18 kilometres to
the south of the Kalplats Project area, increasing the total strike length held
by the parties to almost 50 kilometres. PLA and ARMplatinum each have a 50
percent contributing interest in the new area and PLA will manage the
exploration program which will target extensions of the known Kalplats style of
PGM mineralisation.

PLA is due to complete a Bankable Feasibility Study on the Kalplats Project by
end of 2007 which will include approximately 45,000 metres of RC and diamond
drilling. By the end of April PLA had completed over 20,000 metres of drilling.
The latest significant results from the program are provided in Table 1 below
and their locations are shown in the attached plans.

Are you still playing around with this one hlyeo, 'cos if you are you must be seriously in the money by now?
Took it off my watch list a while back as had too many to watch, but looks like it has turned out to be a good'un.
I really like platinum stocks (AQP etc) as the price & the demand for this metal seems to be limitless. Might wait for a blip down & have a go at this.

turning again. Nice article yesterday

November 22, 2007

The Smoking Gun At Smokey Hills (www.minesite.com)


By Our Man In Oz



No green light. No starters gun. Just the dull thud of a bureaucrats rubber stamp in downtown Johannesburg. The result, however, was the same as if someone had actually sounded a hooter, because Platinum Australia is off and running in the race to become the worlds next platinum producer. No longer a simple explorer with an orebody and a vision, the fast-growing Australian company, with one foot in South Africa, has finally got its piece of paper from government authorities permitting it to mine the small, but rich, Smokey Hills platinum deposit.
Located on the eastern limb of the Bushveld complex, about 300 kilometres north of Johannesburg, Smokey Hills is the starter project that patient shareholders of Platinum Australia have been waiting for. After years of frustration with the Panton project in Oz, and bureaucratic delays with Smokey Hills, the way is now clear to make the jump from explorer to producer. Platinum Australia chief executive, John Lewins, said site activities will start before the end of November, with open pit mining underway in January next year. First production of metals is expected in the second half of 2008.

The issue of the Mining Right for Smokey Hills is a milestone, Lewins told Minesite in his Perth office. While weve been waiting for formal approval weve undertaken a lot of preliminary work, including placing orders for long lead items such as mills, crushers and flotation cells. We have also completed design work and can now hit the road running.

Smokey Hills is expected to yield around 95,000 ounces a year of a four-element cocktail of platinum group metals (platinum, palladium, gold and rhodium) over an initial seven year life. Cash costs, at the middle of the year, were estimated to be a very attractive US$226 an ounce with the basket of elements having a (mid-2007) market value of US$1117/ounce, not far off being double the base case assumption used by Lewins of US$677/ounce. The difference between what the company assumes it might get and the much higher market value is an indication of the amount of fat in the project.

This is also shown in the modest estimated capital cost of US$54.5 million, including the initial outlay and deferred expenditure, to generate base-case cash flow of US$139 million, or US$396 million at market prices. Put another way, Smokey Hills will either generate an internal rate of return of 74 per cent at base case metal prices, or an eye-popping 672 per cent on market prices. In terms of payback periods on the capital cost the base price assumptions lead to a 20 month payback. At mid-2007 prices the payback was just three months. Little wonder that Platinum Australia is keen to get on with the job.

Lewins said his immediate focus for the next six-to-nine months would be constructing Smokey Hills so Platinum Australia can make a successful transition to the status of producer. But, he added that this would not mean taking his eye off the bigger Kalahari Platinum project about 330 kilometres west of Johannesburg, in country beyond the Bushveld. It is here that the Australian-based company is earning a 49 per cent interest from African Rainbow Minerals. KalPlats, as it is better known, is the potential company maker for Platinum Australia. It is much bigger than Smokey Hills, and if on-going drilling continues to reveal high-grade zones of mineralisation could one-day be recognised as a new platinum-rich province. The latest drilling, which is effectively a join the 0dots exercise of linking a series of structures, has returned more tantalising assays, including 7 metres at 3.95 grams a tonne of three-element platinum group mineralisation from the Sirius deposit, 11 metres at 2.35g/t from the Vela deposit and 11 metres at 2.74g/t from the Crux deposit.

Lewins said the Smokey Hills approvals process had taken longer than expected, but the result was good. He also indicated when talking with Minesite that there might be opportunities to turn the starter project into something bigger. There are other opportunities on the eastern limb of the Bushveld and we are pursing them, he said. But, when pressed for detail Lewis turned coy. Were looking at ways to increase the throughput at our plant, and to increase the life of the project. Surely, asks Minesite, that means you have an acquisition in mind? Lets say its the field of dreams approach. Build it, and they will come. Undeterred by that deliberately uninformative answer Minesite digs a little deeper, does Lewins mean his plant will be used to process other peoples material, or will he buy their ore. It probably means buy their resources, or joint venture and we treat for them, he said.

Its that answer which sends Minesites Man in Oz on a brief trip down memory lane because nine months ago, when he last spoke to Lewins, it sparked a speculative thought that Platinum Australia was pursuing the same approach as a previous Australian intruder into the traditionally closed world of South African platinum, the very successful Aquarius Platinum Was that in fact the way Lewins now sees his company? Yes, was the one-word, but very significant answer. There are a number of options opening up for us, including a pooling and sharing agreement with our neighbours. Our plant is designed to expand from 720,000 tonnes a year to 1.2 million tonnes a year by simply putting in a third mill of the same size as the existing two, and putting in additional flotation capacity.

While the mechanics of the mining and processing are fine-tuned, and expansion plans start to germinate even before operations start, there is even better news for Platinum Australian shareholders the company is unhedged, and fully exposed to the precious metals market. That will change, but only slightly, as banking details are completed. We are currently fully exposed, but under the terms of our financing with Standard Bank we need to forward sell 30 per cent of our platinum and 30 per cent of our palladium, Lewins said. We havent done any of that yet, but its not a bad time to be doing it. Thereafter we only have to do 25 per cent of the platinum for the term of the loan. That covers operating costs.

Perhaps a better way of looking at Platinum Australia is through two sets of numbers. The share price, and the platinum price on the three occasions this year when Minesite has spoken with Lewins. On February 13 the stock was trading at A$1.33. By May 30 it had risen to A$1.91, and on November 16 it was A$2.50. The platinum price on the same days was US$1193/oz, US$1264/oz, and $US1424/oz with the latest price, plus the thump of the rubber stamp for Smokey Hills, explaining why Platinum Australia is looking like a stock on the move. And no investor should ignore the fact that the company is now taking another look at the feasibility study for its Panton project in Western Australia. This will now be on a stand-alone basis and could fly with current metal prices.

more news this morning. Motoring in oz last night
Platinum Australia Limited
26 November 2007


AIM Release



26 November 2007



CONSTRUCTION COMMENCES ON THE SMOKEY HILLS PROJECT


Platinum Australia Limited (ASX: PLA) (AIM: PLAA) is pleased to announce that
construction activities have commenced on site at the Smokey Hills Project less
than two weeks after the Mining Right was issued for the Project.


The Engineering Procurement & Construction Manager ('EPCM') contractor, GRD
Minproc and the earthworks contractor, Protech Khuthele (Pty) Ltd mobilised to
site on Monday 19th November and work on the roads and site earthworks commenced
the following day. With civil works due to commence in early December and open
pit mining due to commence in January 2008 the project is on schedule for plant
commissioning to begin in June 2008.


It is anticipated that the Smokey Hills Project will achieve a production of
90,000 oz 4E PGM in 2008/9 and full production of 95,000 oz 4E PGM per annum the
following year.


PLA Managing Director John Lewins said: 'This marks yet another major step for
PLA in moving from successful explorer to mid tier producer. The benefits of PLA
having committed to the project at a very early stage through the ordering of
long lead items and the awarding of the EPCM contract to allow detailed design
to commence can now be clearly seen. The plant is on scheduled to commence
commissioning in June 2008, had we waited for the Mining Right to be issued
prior to making these commitments, we would be looking at March 2009 as the
commissioning date.'


'As I have previously noted, the next eight months through to June 2008 will be
the most exciting period in the life of our Company as we move into production
at Smokey Hills, complete the Bankable Feasibility Study on our larger Kalplats
Project (PLA earning 49% from ARMplatinum) and complete an updated feasibility
study on our Panton Project in Australia.'



Smokey Hills PGM Project


The Smokey Hills PGM Project is located on the eastern limb of the Bushveld
Complex in the Limpopo Province, 300 kilometres north of Johannesburg.


PLA commenced a resource definition drilling program on the project in July 2005
and a Bankable Feasibility Study with GRD Minproc as the Lead Engineer in
October 2005. The results of the BFS showed the project to be extremely
attractive and very robust and able to generate returns of over 70% on the Base
Case assumptions and in excess of 600% using July 2006 metal prices and exchange
rates. The Base Case metal price assumptions we platinum at US$900/oz, palladium
at US$300/oz, rhodium at US$1,500/oz and gold at US$450/oz giving a basket price
of US$677/oz 4E PGM. The current basket price is more than double this at over
US$1,400/oz 4E PGM.


The Company plans to commence operations at Smokey Hills initially as an open
cut, progressing to a shallow underground mine. The treatment of ore through the
on site treatment plant is scheduled to commence less than nine months after on
site construction activities commence and less than six months after mining
commences. This is possible due to the Company committing to the ordering of
long lead items in early 2007 and commencing detailed design with the awarding
of the EPCM contract for the plant to GRD Minproc in June of this year.


The plant has a design capacity of 720,000 tonnes per annum and will produce
approximately 95,000 ozs 4E PGM (Platinum + Palladium + Rhodium + Gold) in a
flotation concentrate. This will be toll treated or sold to any one of a number
of smelters in South Africa, the nearest of which is less than 100 kilometres
distant.


PLA signed a formal Sale Agreement with Smokey Hills Platinum (Pty) Ltd ('SHP')
to acquire up to 80% of the Project through the staged acquisition of 100% of
SHP in 2004. PLA acquired an initial 74% interest in SHP by providing $3.4
million for SHP to fund the purchase of an 80% interest in the Project. The
balance of 26% in SHP was acquired for 15 million fully paid shares in PLA. The
balance of the Project is held 5% by the local community and 15% by Corridor
Mining Resources, a company owned by the Limpopo Provincial Government.


PLA will sell down its interest to 59% to introduce a further BEE component to
the project on the basis of the value of the Project established by the Bankable
Feasibility Study. However due to the nature of the transaction where PLA
provides vendor financing, it is expected it will retain approximately 75% of
cash flow over the life of the Project.


The capital cost of the project was estimated in the BFS in July 2006 to be
US$40m and this plus an overrun facility gives a total cost of up to US$49
million which is fully-covered, with Standard Bank of South Africa providing up
to approximately US$40m of debt funding, and the equity component being easily
covered by PLA's current cash resources of around A$25m.




JOHN D LEWINS

Managing Director

This one is dying a very slow and painful death. Looks like the Australian investors are rushing for the exits. Is this the easiest short?

SINGAPORE, Oct 6 (Reuters) - Platinum slipped 3 percent on Monday to its weakest in almost three years, nearing $900 an ounce, on economic weakness and dismal car sales, which threatened to slash demand for auto catalysts.

Platinum was trading at $922.50 an ounce, down $27.50, having hit a low of $920 an ounce -- its weakest since November 2005.

Major automakers reported plunging U.S. sales for September, led by a 34 percent slide at Ford Motor Co, as the escalating credit crisis hit the industry and raised new doubts about when the world's auto market would stabilise.

More than 60 percent of global use in platinum goes to autocatalysts. Platinum is also used in jewellery.

Palladium falls 5 pct to $163/oz, tracks platinum


LONDON, Oct 17 (Reuters) - Palladium fell nearly 5 percent on Friday, tracking losses in sister metal platinum, as the weak outlook for automakers raised fears over demand for metals used in catalytic converters.

Platinum prices also slipped more than 3 percent.

Spot palladium fell to a session low of $163 an ounce, and was trading at $163.50/171.50 at 1025 GMT. Late in New York on Thursday it was quoted at $171 an ounce.

The stockmarket report from UK-AnaIyst.com for Monday 11th May 2009

Platinum Australia (PLAA) reported a 300% increase in mineral estimates at the Vela deposit at its Kalahari Platinum Project (Kalpats) in South Africa. The firm said new estimates indicated that that the indicated and inferred resources at the deposit came to 1.58 Moz (million ounces) of platinum, palladium and gold (3E) compared with the previous figure of 0.4 million. The new estimate takes into account resources at the 172 holes drilled by the company in 2007 and 2008. Commenting on the news, Platinum Australias managing director John Lewins said: The total mineral resource at Kalplats has now grown to over 6.4 Moz 3E and the high grade resource to over 3.1 Moz 3E, with further updates on Crux, Orion and Serpens North due in the coming months. Shares in the firm rose 8p to 56.5p after the announcement.

ASX Release
22 May 2009
PLATINUM AUSTRALIA TO ACQUIRE UP TO 70% OF THE ROODERAND
PLATINUM PROJECT LOCATED IN THE BUSHVELD COMPLEX IN SOUTH AFRICA

Platinum Australia Limited (ASX: PLA) (AIM : PLAA) is pleased to announce that it has signed a conditional Heads of Agreement (HOA) with Atla Mining Resources (Pty) Ltd ('Atla') to acquire up to 70% of the Rooderand Platinum Project located on the western Limb of the Bushveld Igneous Complex (BIC) in South Africa.
The Agreement is subject to completion of Due Diligence by PLA and the issuing of a Prospecting Right covering the project to Atla.

Rooderand is an advanced platinum exploration project, where previous explorer, Anglo Platinum Limited, has reported in their 2006 Annual Report, a JORC-compliant Inferred Resource for their 45% attributable interest, of 5.3 million tonnes at a grade of 5.39 g/t 4E (platinum plus palladium plus rhodium plus gold) in the UG2 reef and 1.7 million tonnes at 7.99g/t 4E in the Merensky Reef. That is 1.35 million ounces of 4E for their 45% attributable interest. For 100% the Inferred Resource for both reefs combined would be equivalent to 3.01 million ounces of 4E.
Commenting on the Agreement, PLA Managing Director John Lewins said: 'We are extremely pleased to have signed this Heads of Agreement with Atla, which is the mandated representative of the Bakgatla-Ba-Kgafela Tribe, to jointly evaluate and develop the Rooderand Project. The resource is based on the UG2 Reef which is present from surface to a depth of almost 500 metres below surface. The characteristics of the project are therefore very consistent with the stated strategy of PLA to focus on open pit and shallow underground projects which can be rapidly evaluated and brought into production. We are looking forward to working with Atla and the Bakgatla Tribe to advance this project.'

Re: Trading halt
The Company requests a trading halt in its securities pending negotiation of a capital raising through Bell Potter Securities Ltd, Stockbrokers. The Company knows of no reason why this should not be granted.
The Company expects to make a release to ASX to release the trading halt prior to opening of the market on Wednesday, May 27, 2009.

Platinum Australia Limited
28 May 2009
ASX Release

PLATINUM AUSTRALIA LIMITED

SUCCESSFUL PLACEMENT TO RAISE A$61.2M

The Board of Platinum Australia Limited (PLA) is pleased to announce it has successfully undertaken a private placement (Placement) of 60,000,000 fully paid shares at an issue price of $1.02 to raise a total of A$61,200,000. Of the total shares placed, 5,332,827 shares will be issued pursuant to the Company's 15% placement capacity with the balance subject to shareholder approval. A shareholders' meeting will be called in the near future for the purposes of considering this matter.

The issue was managed by Bell Potter Securities Limited and the Placement was made on a global basis to a range of institutional, professional and sophisticated investors.

PLA's Managing Director, John Lewins said: 'We are extremely pleased with the response to the offering, as evidenced by its oversubscription.'

Proceeds from the Placement will be used to retire the Standard Bank debt in regard to the Smokey Hills project, crystallize the value in the Smokey Hills hedgebook, development of existing projects, acquisition and evaluation of new projects and general working capital.

The Company hereby requests that the suspension of trading in its shares be lifted. An appendix 3B will follow.

Taken from their recent presentation:
Platinum Australia
25 May 2009
One of the lowest cost producers in the industry with costs of US$350/oz 4E vs Industry average of US$650/oz
Cashflow of US$30 Million (EBITDA) in 2009/10 at current prices
Production of 90,000 ozs in 2009/10 FY with projected growth to up to 240,000 ozs by 2014
Focus on Open Pit and Shallow Underground Operations with Low Capital & Operating Costs
With a proven record of rapid development from acquisition to production, well placed to benefit from current market conditions
Well positioned to take advantage of the projected upturn in prices by growing from our low cost production base

Smokey Hills
1 Moz Resource
Open Pit & Shallow Underground
Production ‐ 95,000 oz 4E PGM pa
Production Build Up

Kalahari Platinum
6.4 Moz 4E PGM Resource
Open Pit 120‐300,000 oz PGM pa
Feasibility Study first half 2009
Significant Regional Presence

Largest Shareholders
JP Morgan 8.7%
Colonial First 8.6%
NAB 6.6%
Perpetual 5%
AMP 3%
Macquarie 3%

FAST NEWS
PRIVATE PLACEMENT
Platinum Australia raises $48m in private placement
It placed 60 million shares with institutional investors at A$1.02 per share, the company said in a statement.

Author: Reuters
Posted: Thursday , 28 May 2009

Miner Platinum Australia Ltd (PLA.AX: Quote) (PLAq.L: Quote) said on Thursday said it raised A$61.2 million ($47.6 million) through a private placement to repay debt for its Smokey Hills Project in South Africa, develop new and existing projects, and for working capital.

It placed 60 million shares with institutional investors at A$1.02 per share, the company said in a statement.

Platinum Australia said it requested the suspension of trading in its shares on the Australian Exchange be lifted.

London-listed shares of the company were up 3.5 percent at 52.50 pence at 0730 GMT on the London Stock Exchange. ($1=1.287 Australian Dollar) (Reporting by Shivani Singh in Bangalore; Editing by Gopakumar Warrier)

Thomson Reuters 2009 All rights reserved

Moving up nicely this morning.

07/07/09 - 07:00 Shareholder Update RNS
Interesting RNS today. Liked company presentation. Sounded very optimistic. Also interested to learn who has a significant stake in PLAA
Largest Shareholders
JP Morgan 8.7%
Colonial First 8.6%
NAB 6.6%
Perpetual 5%
AMP 3%
Macquarie 3%

But sp is moving constantly towards gravity. Why is that?

as with JLP, primarily because plat prices are falling due to lack of demand in auto indusytry

Bought this at 31p and offloaded at 47p. Good thing I sold.

NEWS
2:39 PM, 21 Jul 2009 Colonial buys 5.9m Platinum shares
TOP News
Source: News Bites


Colonial First State Investment bought a net 5,907,754 Platinum Australia shares for $5,718,417 between February 12 and July 15, increasing from 21,711,632 shares (8.79%) to 27,619,386 shares (10.94%).


STOCK DASHBOARD: July 21, 2009

hyleo will be borrowing these then!

Nice rise today, no doubt on the back of that 400,000 buy this morning.

Platinum Australia clears Standard Bank debt to free up Smokey Hill cash


15 September 2009

Platinum Australia has fully retired the project financing facility with Standard Bank of South Africa that it had been using to develop the Smokey Hills Platinum Mine.

The settlement was completed using a more recently arranged $15 million bridging facility from Macquarie Bank, together with approximately $4.5 million of the company's own cash.

As a result of the move, Platinum Australias only debt is the amount owing to Macquarie under the bridging facility leaving the company with cash on hand of approximately $10 million.

The debt settlement means that Platinum Australia now has complete access to all the cashflows from the Smokey Hills project, allowing the funds provided it to the project and other joint venture partners to be repaid.

The company is aiming to pay off the Macquarie facility with the outstanding balance of proceeds from the recent placement with a Chinese investor, being 30 million shares at $1.02 per share, or from cashflows from the Smokey Hills Project.

SHARES MAG OCT 22 WRITES CURRENTLY (56.5)
Investors
are better off buying mining shares than the commodity itself,
particularly Platinum Australia (PLAA:AIM) at 54p, whose
Kalplats project in South Africa could be bigger than current figures
suggest. A pre-feasibility study shows a 1.5 million tonne
per year project,
averaging 115,000
ounces a year of production.
The results
are due in early 2010
and should be a significant
catalyst to
the share price.
Billionaire financier
George Soros was
last week revealed as
taking a 7% stake in
the miner. (DC)

The lightning has struck on George Soros!

Platinum Australia production slower than planned
Business Financial Newswire


Platinum Australia's quarterly report to 31 December 2009 shows that ramp up of underground production at its Smokey Hills Mine has been slower than planned due to a large pothole being encountered between adits 4 and 5 over a strike length of approximately 125 metres.

This has significantly reduced both the current stoping faces available and therefore stope tonnage mined and the development ore mined during the quarter.

It is anticipated that this will continue to impact on the stope tonnage during the majority of the March Quarter.

Mining of the open pit was extended from the planned completion date of end September to mid December to provide additional ore to compensate for the slower ramp up of material from underground.

The Company says the Definitive Feasibility Study for the Kalahari Platinum Project was commenced during the quarter following the completion of the Pre Feasibility Study which showed the project to be commercially and technically viable.

The Prospecting Right for the Rooderand Project was issued in late November and by the end of the month PLA had commenced the resource definition diamond drilling program

Platinum Australia currently has two diamond drill rigs working on the property and expects this to increase to three during the March Quarter. A program of approximately 100 diamond drill holes is planned and it is expected that this will be completed in the September Quarter 2010.

A Pre Feasibility Study on the project will commence in the March Quarter with DRA as the Lead Engineer.

In December the Company entered into an Agreement with Japan Oil, Gas and Metals National Corporation under which JOGMEC will earn an initial 35% interest in the Stellex North Project, an extension of the Kalplats project, by providing US$3.5 Million funding for exploration over the next 4 years.

Poor production will tilt it back to 40p.

Miners braced for plunge in earnings as Australia draws up fresh tax grab


Some of the biggest companies listed in London face soaring tax demands after Australia said that it would press ahead with plans to further tap the profits of miners.

A new Resource Super Profits Tax also known as the Henry Tax, after the Treasury Secretary Ken Henry will force BHP Billiton, Rio Tinto, Xstrata and others to hand over 40 per cent of profits made on their Australian operations from July 2012.

Demand for iron and coal from India, China and other parts of Asia has helped the Australian economy to ride out the global downturn in better shape than any other advanced economy. However, the Australian Government led by Kevin Rudd, the Prime Minister, argues that the royalties paid by miners to state administrations have not kept pace with companies profits. Ministers claim that over the past five years taxpayers have been short-changed to the tune of A$35 billion (21.2 billion) by the mining industry.

The industry expressed its disappointment at the proposed measures yesterday and warned that they would make investment in Australia far less attractive and ultimately would damage rather than bolster the economy. Marius Kloppers, BHPs chief executive, said: If implemented, these proposals seriously threaten Australias competitiveness, jeopardise future investments and will adversely impact the future wealth and standard of living of all Australians.

Industry experts estimated that the new tax scheme could lead to those companies earnings being slashed. Bank of America Merrill Lynch said that the earnings of BHP, with 51 per cent of its assets in Australia, would be pared by 19 per cent. Earnings of Rio, the worlds second-largest iron ore exporter with about a third of its assets in Australia, would fall by 30 per cent.

Shares in miners were marked sharply lower towards the end of last week in anticipation of the new plans. David Cassidy, chief strategist at UBS, the Swiss bank, expected them to fall still further after the news. He also cautioned that the new tax may stymie mergers in the mining sector and could threaten to derail the A$3.7 billion bid by Peabody Energy, an American coalminer, for Macarthur Coal, an Australian resource company.

The Minerals Council of Australia, a trade body, attacked the proposals as an unprecedented double tax, which would make the countrys mining industry the most heavily taxed in the world. It said that the sector made up 8 per cent of the economy but accounted for 18 per cent of all company tax in Australia, paying A$25 billion.

Mitch Hooke, chief executive of the MCA, said: There is real risk that many of these taxation gains that the Government is banking on may prove illusory if the secondary round impacts are a deterrent to investment.

However, Mr Rudd said: Companies will not pay the tax until after they have provided shareholders with the normal return on capital investments and only then on any additional profit.

Mr Rudd, who is seeking re-election this year, has earmarked the funds raised from the resource rent tax to deliver a pensions boost for all Australians and across-the-board business tax cuts.

Treasuryman

Ken Henry, appointed Treasury Secretary in 2001 by Australias former Liberal government, became the go-to man for Kevin Rudds Labor administration in the financial crisis. The 52-year-old economist, who has drawn flak for alleged political bias, is seen as the architect of the Governments A$42 billion (25 billion) stimulus, designed to mitigate any economic slump. Reportedly he advised: Go early, go hard and go households. In 2008, he was asked to conduct a root-and-branch review of tax.

Good for Australian miners like CEY and MML , mining outside of oz

PLAA has gone into oblivion.