[miningmx.com] – PALLINGHURST Resources, the gemstone, platinum and manganese investment company, said it remained confident about the platinum market and would consider listing its Sedibelo Platinum Mines (SPM).
“The long-term supply and demand fundamentals remain positive; SPM, with its large, sustainable and relatively shallow resource base, is ready to proceed with a listing when
market conditions are favourable,” said Arne Frandsen, CEO of Pallinghurst.
Frandsen was commenting in notes to Pallinghurst’s financial results for the six months ended June 30 in which the company posted net income of $3.2m which compares to a profit of $104m in the corresponding period of the previous financial year.
Pallinghurst said that SPM sold 82,500 ounces of 4E platinum group metals during the six month period, a 15% year-on-year improvement which the company attributed to an optimisation process that lifted recoveries at Pilansberg Platinum Mine.
