The next six months will be crucial for Pallinghurst, which has been restructured from a private equity investment company to a mine operator, as it needs to deliver to increasingly frustrated shareholders. The company, which since its inception and listing in 2008 has seen its share price shrink from R10 to 300c, is hoping that the shift in focus will start bringing in returns. Pallinghurst and chairman Brian Gilbertson, who started the company, have recently been criticised for big pay-outs for non-executives while its share price dwindled. Pallinghurst CEO Arne Frandsen said the share price had underperformed because of its huge exposure to platinum and platinum companies and stocks. "Our biggest division is in platinum and if you look at the share price of Lonmin, Impala, et cetera, platinum has been in a very tough place, it's impossible for us to be immune to that. Any company with a platinum exposure would have suffered," Frandsen said. The Pallinghurst group has a 42% invest...
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