Stock price when the opinion was issued
(A Top Pick Sept 29/11. Down 75%.) Had thought there was a fantastic cash value in this. It is still there at about $150 million. Had thought the South African situation in labour, costs and power issues were priced in but the challenges exacerbated to the downside. Stock is still great. Resources still there and this is trading at cash value but they can’t make money at these PGM levels. If you own, continue to hold.
Long in platinum/palladium as he feels the supply/demand fundamentals are really strong, particularly in palladium. This company has financing issues and is in South Africa so it has union and mining issues. Have a lot of fundamental challenges. Would recommend going to Stillwater Mining (SWC-N) instead.