At current prices, there is blood in the streets in the platinum market. The largest South African mining companies (80% of global supply) are operating at a loss, and are selling off assets.
J. Pierpont Morgan said, “Buy when there is blood in the streets.” The notorious financier took his own advice. He became fabulously wealthy by buying assets when others were selling.*
What is JPMorgan looking to buy during this “platinum fire sale?” PLATINUM MINES. (Mission Accomplished Sept. 2015)* JPMorgan Cazenove’s long-term forecasts have not altered from previous forecasts.
Sept. 9, 2015: Sibanye Gold Ltd. purchased the Rustenburg platinum shafts from Anglo American Platinum (sale price: 4.5 billion rand plus shares).
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