PLG may start to rise.PLG may start to rise.
PLG may start to rise. Briefly about the company. PLG is a Canadian mining company established primarily to extract palladium and platinum. You could say that we are talking about a company that is still in the start-up phase. In 2016, the company discovered one of the world's largest palladium deposits in Waterberg County, South Africa. They obtained a mining licence from the South African Mining Authority, which was legally challenged by local communities in the area. A resolution period of nearly 190 days then began, with the aim of getting the head of PLG's South African subsidiary to reach an agreement with the local population. During this time PLG lost a lot of nearly 72% of its previous peak. According to recent leaks, the company's management has managed to reach an agreement with the indigenous population. This can be seen in the movement of the share price. Therefore, it can be assumed that by the end of the year, the mine engineers will return to the Waterberg layer and the construction of the mine will begin. This area contains one of the world's largest discovered deposits of palladium, platinum and rhodium. Mine plans indicate that the mine will be primarily a robotic mine with automatic extraction, thanks to the palladium layer at shallow depths below the surface. As a result, a low-cost mining operation could be launched. Given the significant commodity price increases expected in the near future, we are likely to see further increases in palladium and platinum. The mine life is 40 years.
Technical image. The analysis shows that the above news is slowly starting to feed into the PLG movement. As the trend has now turned in a positive direction for the company, I expect a further significant rise. The grey axes in the chart are the ATR axes. The D1ATR axis has been confirmed in recent days. Therefore a significant further rise is expected. Next target price : 4.91 usd.
Technical image. The analysis shows that the above news is slowly starting to feed into the PLG movement. As the trend has now turned in a positive direction for the company, I expect a further significant rise. The grey axes in the chart are the ATR axes. The D1ATR axis has been confirmed in recent days. Therefore a significant further rise is expected. Next target price : 4.91 usd.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.