PLG has reached the bottom.
PLG has reached the bottom. The chart shows that the fall in PLG shares has stopped. The fundamental background is that the construction of the mine in Waterberg County, South Africa, has temporarily stopped. In a South African court, civil groups have challenged the mine construction permit issued three months ago. PLG CEO Robert Jones has resigned after failing to reach a negotiated settlement with residents. He has handed over control of his company to his CFO, who is rumoured to be making good progress in reaching a settlement with the NGO groups. It is therefore expected that the construction of the mine will accelerate again. The Waterberg mine is building the world's largest palladium and platinum deposit. The future value of the project is significant. But there are still significant risks. If we go back to the technical picture, we can see that the success of the negotiations behind the scenes is starting to be priced in. I expect a reversal from the current level of 2.43 usd. The build up of another fractal which technically could be twice the size of the original fractal.
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