Waiting Patiently to Load My Boat!
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I'm onboard... Loading The Weed Train!!!
So if the price rallies to above $1 for Nasdaq compliance before meeting and vote, No need for reverse split? We have until 6/26!Lol
Yea board has been very quiet but I've watched the volume jump the last two weeks on the ride down to mid dollar range. Good buying here if you ask me. Production set to start up in 9 months. Company will start to see money coming in shortly after. looking for $5 a share in 24 months.
Yea board has been very quiet but I;ve watched the volume jump the last two weeks on the ride down to mid dollar range. Good buying here if you ask me. Production set to start up in 9 months. Company will start to see money coming in shortly after. looking for $5 a share in 24 months.
I picked up a few more!
Chart is setting up for late 2014 move! Even though the board has been inactive I'm still 100% Buy on PLG!
Reserves increased 70% from 10.5 million to 17.3 million oz. of 4E. THIS IS JUST THE WATERBERG FIND. THIS STOCK IS GOING TO BE $100 IF THEY GET WATERBERG IN PRODUCTION ALONG WITH WBJV!!!!
Back up to $1.20 looks like some resistance but good breakout yesterday above the 200dma which has caused the nice run ever since the golden cross.
80 days till next quarters fins released or 61 trading days!
Bounce off the 50dma tomorrow?
Short has gradually gotten less and less over the last week. Down from 17 million shares short to now 13+million short. Could be an indicator or blast off as shorts cover.
FEDERAL NATIONAL MORTGAGE ASSN $ 1.49
FNMA -0.02
Daily Short Sale Volume view
Short Interest (Shares Short) 13,232,800
Days To Cover (Short Interest Ratio) 1.0
Short Percent of Float %
Short Interest - Prior 14,755,800
Short % Increase / Decrease -10.32
The question I wanna ask is...where does everyone think the PPS will be in March 2014 or this time next year after all has been paid back to the Treasury?
We have traded over a hundred million shares in between 1.50-1.60 the last 2 weeks!
Still 14+ million shares short that need to cover.
Short Quote™
Enter Symbol:
FEDERAL NATIONAL MORTGAGE ASSN
$ 1.79
FNMA
0.23
Daily Short Sale Volume
view
Short Interest (Shares Short)
14,755,800
Days To Cover (Short Interest Ratio)
0.6
Short Percent of Float
%
Short Interest - Prior
16,691,800
Short % Increase / Decrease
-11.60
I got this Info off www.shortsqueeze.com, not sure how accurate they are but it seems pretty current to me.
Good Push today..Volume finally picked up and we are above the 50 DMA with room to move North on the charts!
Everyone needs to realize FNF have been around for years and the purchase of bad loans will now be eyed more intricately. The government does not need to create a new mothership. All that needs to be done is new checks and balances put in place. Not to mention the banks that sold these loans the first time an are being sued don't want this to happen again so they will be more scrutinous as well. New checks an balances will save the govt and Americans billions in tax dollars and alleviate attempting to place a new system in place that has never been tested!
That list would rock if you posted what the PPS is on each company on that list and highlight the value of FNF!!!
End of day trades were a short strategy to cover before run. Look for this to happen at eod the next week up until fins! With 16+ million short it is a powerhouse operation to hold this down and if it runs look for shorting to increase to push back down so they can cover. Shooters are betting on Congress shutting down FNF. Not gonna happen anytime soon!
FEDERAL NATIONAL MORTGAGE ASSN
$ 1.54
FNMA
-0.07
Daily Short Sale Volume
view
Short Interest (Shares Short)
16,691,800
Days To Cover (Short Interest Ratio)
0.4
Short Percent of Float
%
Short Interest - Prior
16,873,000
Short % Increase / Decrease
-1.07
Daily Naked Short Selling List
view
Short Squeeze Ranking™
view
% From 52-Wk High ($ 0.00 )
%
% From 52-Wk Low ($ 0.00 )
%
% From 200-Day MA ($ )
%
% From 50-Day MA ($ )
%
Price % Change (52-Week)
%
Shares Float
% Owned by Insiders
% Owned by Institutions
Market Cap.
$
Trading Volume - Today
Trading Volume - Average
42,828,000
Trading Volume - Today vs. Average
0.00%
Earnings Per Share
PE Ratio
Record Date
Info was taken from www.shortsqueeze.com
I do not pay for a membership to that website so info is limited!
Naval Aircrew!
Close below the 50DMA and break through tomorrow but shorts will attempt to hold it down. Some will cover though adding to the accumulation that has occurred between 1.40-1.70 the last few weeks. Hold above the 50DMA with lines crossing the on the MACD indicates Bull. All other indicators are giving very bullish trading signals as well. Throw in the release of fins on August 8th and its the perfect storm. I'm looking for PPS to top off around $4.00 as last run to $5 pulled back fast and hard which will intimidate some would be potential buying. All just just my humble opinion.
Word will spread fast throughout trading circles!
www.shortsqueeze.com
A little less than 17 millions shares shorted that need to cover.. It's down a little bit from Friday but still plenty left that will be placing orders soon!
www.shortsqueeze.com
SHORTS WILL BE LOOKING TO COVER WHEN MARKET OPENS TOMORROW!
Agreed! The chart is in spectacular condition for breakout.
May see a little reduction in PPS with this low volume. Expect Summer/Fall 2014 to be interesting.
Looks like a Doji on the chart..Pop!!! Watch for the feeding frenzy before reports come out.
Any estimates on what earnings may be for last quarter?
When is FNMA scheduled to release their next quarterly report?
I agree but we are still 18-24 months away from are real targeted move. So as my friend on another board says,"getmoreshares"!
Are we back?!?!
I'm suprised more people dont see that as well...welcome aboard!
Looks like a strong short play..may see a big squeeze when this runs on those who went short!!
NEWS Platinum Group Metals Ltd. (TSX:PTM)(NYSE MKT:PLG) ("Platinum Group" or the "Company") reports that today, in South Africa, underground development at the North Declines has resumed with diligent attention to the instructions of the Department of Mineral Resources Inspectors. The Notice under Section 54 of the Mine Health and Safety Act (1996) dated April 9, 2013 has been uplifted by the Principal Inspector of mines.
Work on the Mill and Concentrator construction and the twin South decline advancement was unaffected by the order and is continuing.
Platinum Group Metals and its 74% owned operating Company at the WBJV Project 1 Platinum Mine, Maseve, are committed to safety as a first priority and strive for an open co-operative approach to interaction with the Department of Mineral Resources Inspectors to improve safety.
About Platinum Group Metals Ltd.
Platinum Group is building the WBJV Project 1 Platinum mine in the Western Limb of the Bushveld Complex, South Africa. The Company owns 74% of the WBJV Project 1 Mine and 26% is owned by Africa Wide Prospecting and Exploration (Pty) Limited, a wholly owned subsidiary of Wesizwe Platinum Ltd. Platinum Group is also currently drilling with 15 machines at the Waterberg Project in partnership with JOGMEC, a Japanese state company and a private empowerment company. Platinum Group is listed as PLG on the NYSE MKT and PTM on the TSX in Toronto.
On behalf of the Board of Platinum Group Metals Ltd.
"R. Michael Jones"
This press release contains forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of U.S. securities laws ("forward-looking statements"). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include, without limitation, statements regarding the Company's plans to move Waterberg ahead with exploration and engineering work. In addition, the results of the UFS may constitute forward-looking statements to the extent that they reflect estimates of mineralization, capital and operating expenses, metal prices and other factors. Although the Company believes the forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in market conditions; the nature, quality and quantity of any mineral deposits that may be locate;, the Company's ability to obtain any necessary permits, consents or authorizations required for its activities; the Company's ability to successfully complete hedging establishment and off-take negotiations; the Company's ability to produce minerals from its properties successfully or profitably, to continue its projected growth, or to be fully able to implement its business strategies and other risk factors described in the Company's Form 40-F annual report, annual information form and other filings with the SEC and Canadian securities regulators, which may be viewed at www.sec.gov and www.sedar.com, respectively.
The Toronto Stock Exchange and the NYSE MKT have not reviewed and do not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.
Contacts:
Platinum Group Metals Ltd., Vancouver
R. Michael Jones
President
(604) 899-5450 / Toll Free: (866) 899-5450
Platinum Group Metals Ltd., Vancouver
Kris Begic
VP, Corporate Development
(604) 899-5450 / Toll Free: (866) 899-5450
(604) 484-4710 (FAX)
Google Earth's latest image over the mine shows a huge amount of earth has been removed along the strike line of the Colassal. Large areas have also been cleared to the East and the South of the main operations area.
31 18'50.27N / 116 19'40.00W
Update the time line on the top slider. This update was from July 2012 and is pre-conviction however it does show that much effort has gone into operations and there should be no need to stop just because Cotton has legal concerns.
In my humble opinion the company can move forward with new leadership. New Officers and Directors with no affiliation to Cotton or current officers placed under salary would benefit all.
IMHO
DEVILDOLPHIN
The market is going to play this one for everything it's worth! Price will stay in this range +/- .15 until volume dries up. Then big money will make another buy and push up the PPS. This stock has drawn the attention of some big players in the past and I'm sure there are plenty more who can control the system sitting on the sidelines. I too hope to one day be that powerful! Lol. Keep buying gentlemen...take the opportunity we have to get more shares and reap the rewards in 2016-2017!!! No rush to buy an sell early..the real money and pay off will be when 2nd/3rd year full production numbers come in! And even that would be an early sell.
NEWS - Platinum Group Metals Ltd. (TSX:PTM)(NYSE MKT:PLG) ("Platinum Group" or the "Company") reports the Company's financial results for the three and six months ending February 28, 2013. For details of the February 28, 2013 Condensed Consolidated Interim Financial Statements ("Financial Statements") and Management's Discussion and Analysis please see the Company's filings on SEDAR (www.sedar.com) or on EDGAR (www.sec.gov). Shareholders are encouraged to visit the Company's website at www.platinumgroupmetals.net. Shareholders may request a copy of the complete February 28, 2013 Financial Statements from the Company free of charge.
The Company's cash position at February 28, 2013 was $186.82 million, including approximately $22.30 million in restricted cash. At April 9, 2013 the Company's cash position is approximately $196 million, including approximately $22 million in restricted cash. The company holds cash in both Canadian dollars and South African Rand and changes in the exchange rate may create variance in the cash holdings reported in Canadian dollars. All amounts herein are reported in Canadian dollars unless otherwise specified.
The Company obtained credit approval for a US$260 million project loan facility on December 6, 2012 and closed a $180 million equity financing on January 4, 2013 (details below).
In January 2013, Platinum Group expanded its construction efforts on its 74% owned WBJV Project 1 Platinum Mine in South Africa from the Phase 1 development of twin underground declines to surface infrastructure construction for a mill and a second set of twin underground declines. The Company also increased its drilling program on the Waterberg Platinum project with 15 drill rigs. These programs continue at this time.
Highlights For The Quarter Ending February 28, 2013
-- On December 6, 2012 the Company announced that a syndicate of lead
arrangers had obtained credit committee approval for a US$260 million
Project Loan Facility for the construction of the Project 1 Platinum
Mine. The credit approval is not subject to further syndication prior to
closing. Closing and draw down of the loan facility is subject to the
negotiation and execution of final documentation and satisfaction of
conditions precedent.
-- On December 10, 2012 and December 12, 2012 the Company announced and
then priced an offering of 225,000,000 common shares at a price of $0.80
per common share, for aggregate gross proceeds of $180,000,000. Closing
of the offering occurred on January 4, 2013 for net proceeds to the
Company of $169,246,000, after underwriters' fees and the estimated
expenses of the offering.
-- On February 1, 2013 the Company published an updated inferred mineral
resource estimate on the Waterberg Joint Venture area covering the first
2.8km of T-layer and 5.4km of F-layer strike length starting from the
southern boundary of the property position. On March 18, 2013 the
Company filed the associated National Instrument 43-101 technical report
entitled "Revised and Updated Mineral Resource Estimate for the
Waterberg Platinum Project, South Africa".
-- A US$100 million Phase 1 development program at Project 1 was
approximately 95% complete at February 28, 2013. Subsequent to the end
of the second quarter, on March 28, 2013, a major milestone for the
Company was reached when the sinking of the twin Phase 1 declines at the
north location intersected the Merensky Reef at approximately 1,100
metres linear as planned. Stockpiling of Merensky ore has now begun.
Substantial surface infrastructure has also now been constructed on
site. Major milling components for the concentrator have been ordered
subsequent to quarter end.
Results For The Period
During the six months ended February 28, 2013, the Company incurred a net loss of $1.63 million (February 29, 2012 - loss of $4.82 million). General and administrative expenses during the period amounted to $4.22 million (February 29, 2012 - $3.44 million), gains on foreign exchange, due to movement in the Rand during the period, were $1.52 million (February 29, 2012 - loss $1.45 million), while stock based compensation expense, a non-cash item, totalled $1.16 million (February 29, 2012 - $1.94 million). Finance income consisting of interest earned and property rental fees in the six months amounted to $2.57 million (February 29, 2012 - $2.16 million). Loss per share for the period amounted to $0.00 per share, as compared to a loss of $0.01 per share for the comparative period of fiscal 2012.
Accounts receivable at February 28, 2013 totalled $8.65 million while accounts payable and accrued liabilities amounted to $8.05 million. Accounts receivable were comprised primarily of value added taxes repayable to the Company in South Africa and funds due from Restricted Cash for expenditures on Project 1. Accounts payable included accrued professional fees, contract construction fees, drilling expenses, engineering fees and regular trade payables for ongoing exploration and development costs and administration.
Total expenditures by the Company for development and purchases of property and equipment for Project 1 during the six months ended February 28, 2013 totaled $25.94 million, before including the effects of foreign currency exchange rate fluctuations. Expenditures by the Company during the six month period for exploration on Waterberg were approximately $7.22 million, of which $2.62 was funded by joint venture partner the Japan Oil, Gas and Metals National Corporation ("JOGMEC").
On February 13, 2013, Moshiko Molepo, a surface worker, was involved in an incident with a moving truck and subsequently died while under medical care. Our sympathies go out to his family and friends. We continue to endeavor to improve our safety on site and this is our number one priority.
Outlook
The completion of a $180 million equity financing and the credit approval for a US$260 million project loan launched the Company into Phase 2 construction for the WBJV Project 1 and provides the Company's share of a US$10 million exploration budget for the Waterberg.
At Project 1, construction and development is proceeding at pace. Engineering, procurement, construction and management ("EPCM") contractor DRA Mining Pty Ltd. ("DRA") was engaged as EPCM contractor in January for commencement of Phase 2, including mill construction. Underground mining contractor JIC Mining Services continues their work on the north declines and has now begun work on the south declines. Surface work continues with the construction of the mill and concentrator laydown areas and Eskom substations. On April 9, 2013 the WBJV Project 1 Platinum Mine operating company was issued a Section 54 stop work order for the north twin declines underground following a normal inspection by the Mines Inspector. The order cites two underground bolt locations, underground scaling support, explosives control and supervision. The Company is working diligently and co-operatively with the Department of Mineral Resources of the Government of South Africa ("DMR")to make a presentation appealing for the lifting of the order in the next 10 days. Work on surface construction and underground development of the South area twin declines continues.
At Waterberg, 15 rigs are drilling on the Waterberg Joint Venture area. Drilling is focused on the 16 km2 up-dip expansion license granted to the Company and announced January 22, 2013. Another updated resource estimate for Waterberg is expected in July of 2013. Assay results for many holes are pending at this time. A US $10.0 million program has been approved for calendar 2013 at Waterberg by the joint venture partners for drilling, geophysics and the completion of a preliminary economic assessment report.
During February and March of 2013 the Company received letters from the DMR advising the Company that prospecting right applications comprising the 665 square kilometres Waterberg Extension area and a further 102 square kilometres within the Waterberg Joint Venture area have been accepted. Formal grant of the prospecting rights is now subject to the completion and filing of appropriate environmental management plans and reports on consultation with interested and affected parties. These requirements are normal course. Upon final approval of these filings, the Company will be able to conduct step-out drilling northerly along the projected strike extension of the known Waterberg deposit area. The Waterberg Extension area, where the Company owns an 87.5% effective interest, is adjacent to the North and East of the joint venture area with JOGMEC.
In late March and early April 2013 the Company conducted a Fugro differential gravity and magnetic airborne survey in the Waterberg Region. Approximately 3,200 line kilometres were flown at 100 metre and 200 metre spacing over and along strike from the known deposit area.
The Company's key business objectives for 2013 and into 2014 will be to continue with the underground development and mine construction at Project 1 and to continue exploration at Waterberg. Closing and draw down of the planned project loan facility is expected to fund the completion and commissioning of Project 1.
The Company will invest from current cash on hand for the ongoing Phase 2 construction. Work to complete final loan documentation and final off-take agreements is in process. Plant and facility construction and commissioning are estimated to take until late 2014 to complete. Full commercial production at steady state is estimated to occur after a two year ramp-up period subsequent to the commissioning of the plant.
About Platinum Group Metals Ltd.
Platinum Group is based in Johannesburg, South Africa and Vancouver, Canada. The Company's main asset is a 74% interest in Project 1 near Rustenburg, South Africa, where a Phase 1 construction budget of US $100 million is nearing completion and Phase 2 construction is in progress. Project 1 has an estimated steady state production of 275,000 ounces per year of platinum group metals. Platinum Group also has active exploration programs and a new platinum deposit discovery, near surface at the Waterberg joint venture in South Africa. Waterberg is in joint venture with the Japan Oil, Gas and Metals National Corporation.
Qualified Person
R. Michael Jones, P.Eng., the Company's President, Chief Executive Officer and a significant shareholder of the Company, is a non-independent qualified person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects and is responsible for preparing the technical information contained in this news release.
On behalf of the Board of Platinum Group Metals Ltd.
Frank R. Hallam, CFO and Director
This press release contains forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of U.S. securities laws ("forward-looking statements"). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include, without limitation, statements regarding the closing, drawdown, the satisfaction of certain conditionals precedent and the expected maturity date of the project loan facility, the completion of formal agreements relating to off-take on Project 1, use of net proceeds of the Offering, the completion of an updated resource estimate for Waterberg, the expected grant of exploration permits at Waterberg, commencement and completion of Phase 2 development at Project 1, the timing of first ore production and concentrate sales, and further exploration and development on the Company's properties. In addition, the results of the 2009 UFS may constitute forward-looking statements to the extent that they reflect estimates of mineralization, capital and operating expenses, metal prices and other factors. Although the Company believes the forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in market conditions; the nature, quality and quantity of any mineral deposits that may be locate; the Company's ability to obtain any necessary permits, consents or authorizations required for its activities; the Company's ability to successfully complete formal agreements relating to off-take on Project 1; the Company's ability to produce minerals from its properties successfully or profitably, to continue its projected growth, or to be fully able to implement its business strategies and other risk factors described in the Company's Form 40-F annual report, annual information form and other filings with the SEC and Canadian securities regulators, which may be viewed at www.sec.gov and www.sedar.com, respectively.
The Toronto Stock Exchange and the NYSE MKT LLC have not reviewed and do not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.
Contacts:
Platinum Group Metals Ltd.
R. Michael Jones
President
(604) 899-5450 or Toll Free: (866) 899-5450
Platinum Group Metals Ltd.
Kris Begic
VP, Corporate Development
(604) 899-5450 or Toll Free: (866) 899-5450
www.platinumgroupmetals.net
Agreed..the MACD and RSI both show plenty of room now for a healthy run..regardless this will run at some point no matter what the PPS. Hoping to load some more shares though before the next run.
Agree'd...Platinum prices will at some point start a serious climb north only increasing the value of PLG. I keep hearing this little voice say $50pps is a possibility 5 years from now. Throw in a P/E of 30 or so and after a couple years if production plus the possible sell or production with Waterberg. Now throw in all the economic factors. Hope my little voice is right!
Nice day...up up and away!