PALLINGHURST Resources, which had significantly written down the values of its manganese and platinum investments, viewed prevailing weak commodity prices as a buying opportunity, CEO Arne Frandsen said on Wednesday.Pallinghurst, an investment company that was started by Brian Gilbertson and Mr Frandsen, has interests in Sedibelo Platinum Mine in SA; Jupiter Resources, with manganese in SA and iron ore prospects in Australia; and a stake in London-listed Gemfields, a company aspiring to be the "De Beers for coloured gemstones".It was this platform of assets on which Pallinghurst saw opportunities to build in the depressed global commodity market, Mr Frandsen said after the release of the company’s 2015 annual results on Wednesday.While assets might be cheap, the cost of capital was expensive, making merger and acquisition activity difficult and expensive in the broader industry, he said."To buy low and sell high — and we’re in a low market right now — makes sense. It’s fair to say w...
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