Wot was the PNA share price in 2003 and 2008?

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yoplait

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17/09/14

13:42

Post #: 13987767
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Originally posted by flight996 ↑

Bit of a subdued response to good news.

Perhaps PNA can be used as a bit of a model in order to understand where the SP surges tended to occur in its transition from explorer to producer.

Its also important to take into account that AVB operates in a different country and without direct government investment, we're a long way from the heady days of 2006-2008, and the mining game has changed since the GFC.

I held PNA from early exploration days in 2003 through to its mining operations and shipping of concentrate through Rayong to the fat smelters in Kunming in (I think) 2008.

From memory, significant positive changes in share price occurred on the following occasions:

1. Presentation of a Bankable Feasibility Study and confirmed finance arrangements,
2. Powering up the rolling mill and first-pour of concentrate, and importantly
3. Inclusion in the ASX 300 (due to institutional formula-driven investment).

Upgraded ore reserves at Phu Kham in isolation did not result in enduring SP rises, possibly because increased reserves alone did not decrease investor risk.

It may take confirmed financing arrangements for the project to be sufficiently de-risked to attract sustained institutional interest. In the meantime we still have the BOTs.

Cheers
F

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Wot was the PNA share price in 2003 and 2008?

AVB Price at posting: 11.2¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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