UBS rates as Buy (1) - The broker notes oramic has agreed to pick up the ton PGM project from Platinum Australia ((PLA)) for $5.25m in cash plus a royalty. The broker estimates the deal should close by the end of the month. UBS will leave its forecasts in place until deal close, and will incorporate production and development scenarios once the comy has had the chance to complete some in depth studies over the next few months. Given the broker really doesn't like the look of nickel business right now, this sort of diversification into PGM (platinum group metals) is viewed favorably. Buy maintained. More
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