Platinum Australia Ltd (ASX, AIM: PLAA) said admission of its ordinary shares to trading on the AIM market of the London Stock Exchange will be cancelled with effect from July 2 2010, and the last trading day on AIM will be July 1 2010.
PLA will continue to maintain its listing on the Australian Securities Exchange.
The board decided to leave the AIM exchange as it believes that the costs incurred to administer the additional regulatory compliance requirements and to maintain the AIM quotation now exceed current and potential future benefits the group could obtain from the quotation.
PLA is focused on discovery and development of platinum group metal (PGM) projects in Australia and overseas.
It currently has several projects at various stages of development: the Smokey Hills project is located on the eastern limb of the Bushveld Complex in the Limpopo Province, 300 kilometres north of Johannesburg; the Kalahari Platinum (Kalplats) project, in joint venture with African Rainbow Minerals, located in the North West Province of South Africa, 330 kilometres west of Johannesburg; the Rooderand platinum project located on the western Limb of the Bushveld Igneous Complex, and The 100 percent owned Panton project is located adjacent to the Great Northern Highway, 60km north of Halls Creek in the Kimberly region of Western Australia.