Platinum

finicky said:
platinumRyder hasn't sold her 2012 platypi at 3.6% above spot. Invited offers.
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Good Deal - those who have no platinum exposure should grab it with both hands !
 
Ronnie 666 said:
Probably be nationalized - no private corporation will buy it. Just my take.
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I would imagine so too. This news comes on the back of Glencore selling it's platinum play in Lonmin too! Somethin's up.
I hear talk of the RSA Govt. talking about declaring coal a strategic material FFS. Wouldn't be much of a stretch for them to expand to Platinum.... and then farmland :/

Tip... if RSA's SaSol Ltd company ever decide to offshore (which in this environment is highly likely), lobby your local federal politician to encourage them to base themselves here in Oz. SaSol's people, technology & I.P. those guys are the experts at liquefying coal.
 
AQUARIUS Platinum Limited (Aquarius), 50 percent shareholder in the country's second largest platinum producer Mimosa Mining Company (Mimosa) says it has engaged (i.e. challenged) the (Zimbabwe) government over the recently imposed 15 percent tax on raw platinum exports.

Over the past year, President Robert Mugabe's Zanu PF led government has raised or imposed taxes on everything from mines to water in a bid to increase revenue to pay government workers. Their salaries account for about 88 percent of State spending.
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http://www.newzimbabwe.com/business-20571-Aquarius+engages+Zim+on+15pc+platinum+tax/business.aspx

Zimbabwe first proposed the levy in 2013 as part of measures to compel platinum producers to build refineries and process the metal locally.
It then postponed the levy's introduction until January 2017 to allow the firms ample time to build the necessary smelting and refining plants.
But, the government's Finance bill, which was published on January 9, proposes its introduction from January 1 2015.

Even if such plants are built, there is a risk that they may be nationalised at some stage.
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"Mimosa will begin generating negative cash flow and its shareholders will put it into care and maintenance, said Aquarius last week.
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So that's even more Pt off the table
 
Maybe they concentrated on production at expense of development. Also focused on the easy or high grade stuff in anticipation? Usually a miner can economically mine and process low grade ore by blending it with high grade.

That and stockpile and inventory.

"...as a result of careful management of the production pipeline in advance of the anticipated strike he added."
 
Platinum usage 2013 inner wheel, 2014 outer wheel
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http://www.mineweb.com/news/platinu...m-shortfall-continues-for-third-year-running/
According to the World Platinum Investment Council's (WPIC) second everPlatinum Quarterly report, global platinum demand outstripped supply by 700 000 ounces in 2014. This was the third consecutive year-end deficit, which was exacerbated, this time around, by a five-month long platinum belt strike in South Africa, said WPIC CEO Paul Wilson.
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WPIC research director Trevor Raymond said this was largely because investment demand fell 790 000 ounces due to the smaller uptake of the first rand-denominated platinum ETF, which was introduced in 2013 and performed remarkably in that year. l. In comparison to gold, Wilson said platinum was lagging far behind in terms of being viewed as an investment asset but pointed out that its performance, in recent years, was comparable to that of the yellow metal.
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Said Wilson: "Gold has the advantage of already having been viewed as an investment for the last 5 000 years. But if you look at the real performance over the last 20 years, there hasn't been much of a difference between the two metals. It will take some time for people to get familiar with platinum as an investment asset, but we believe that there is tremendous potential for that."
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Pt prices are being smashed and are now under US$1100. This is several $100 less than production costs and that will not last. I hear from Andy Hoffman that Miles Franklin are finding Pt difficult to source. The PM have not produced a 2015 platypus. I am waiting to hear of further S. African platinum mine closures. To quote a fictitious detective - something is afoot !
 
Ronnie 666 said:
Pt prices are being smashed and are now under US$1100. This is several $100 less than production costs and that will not last. I hear from Andy Hoffman that Miles Franklin are finding Pt difficult to source. The PM have not produced a 2015 platypus. I am waiting to hear of further S. African platinum mine closures. To quote a fictitious detective - something is afoot !
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Now its Palladium's chance to be smashed? Rhodium also down. the PGM's are being taken down yet supply is non existent. I would be interested to hear from any of the bullion dealers how difficult it is now to obtain PGMs. Coin dealers I speak to say they no longer see PGM's for sale unless they are over priced collectables.
 
1oz Platinum Platypus coins were selling from between $1800AUD and $2020AUD (Ebay) back in early to mid Feb 2015.

Platinum coins on ebay (Sold) are not reflecting the lower spot price for platinum.

http://www.ebay.com.au/sch/i.html?_...0&_nkw=platinum+coins&ghostText=&_sacat=58520

I think Pt is a very good medium-term hold if you can get it.

Very disappointing that the Perth Mint have decided not to strike the 2015 coin.

imo, the Platinum Platypus was / is a great design but perhaps the coin should have been released in fractional sizes.

I like the idea of 1/10, 1/4 and 1/2oz Pt coins. :cool:
 
Holdfast I think the PM had no choice as the metal supply is just not there ?

Look at the US Mint's new platinum eagle - stopped production in October 2014 ?
They have not sold 1oz of Pt in 2015 ?

Watch this space
 
maybe they've been reading this thread?

I've got better things to spend my money on... I'll take 2
 
Clearly they were able to scrounge some Pt together and punch out a few coins. There's no way mining companies are selling PGMs for less than their production costs, unless the metal is simply a by-product of other mining activity. Perhaps the reason that there's no Pt eagle is simply because the demand isn't there when compared with Au/Ag. Why waste the tooling/machinery/time on making Pt Eagles that don't sell so well when it could be used to produce ASEs/AGEs that will sell like crazy and rake in the cash?

I like Pt, but not because I think it's running out. It is a very rare metal, has a number of uses and exceptional qualities, but until it becomes universally desired, it will live in the shadow of its more popular cousins. Time and understanding will help Pt and I think its rarity compared to Au will favour it in the medium to long-term.
 
I suppose the market isn't privy to when (Price paid) or where the Perth Mint sourced their metal.

Perhaps Perth had a swag of blanks left from the 2012, 2013 and 2014 strikes, after-all, the 2013 and and 2014 declared mintages are very low.

Anyway, it's good new that Perth have struck the 2015 Platinum Platypus, it's a great coin and very collectable.

The "declared" mintage figures for the Platinum Platypus are:

2011 - 30,000 coins
2012 - 26,580 coins
2013 - 2,000 coins
2014 - 1,616 coins

http://www.perthmint.com.au//docume..._Platinum_Bullion_Coin_Series_2011_-_2014.pdf
 
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