Hi Spec,Interesting snippets from the broker report …. the...

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wassa

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15/04/24

06:08

Post #: 73340821
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Originally posted by speculator101: ↑

Without doubt Wassa, if Paul had done something similar PNR would have been in major trouble (instead of just trouble).

Cheers for that report @Banana1234 - without doubt, the report written 30 Oct 2023, was literally the bottom for PNR (things did indeed look grim), but... at a price target of $0.025... that was $130m for the entire company (including Halls).

To be fair, they did ponder many of the things that has already been discussed on HC (though indeed, the Lithium deal was a surprise for the broker)

In fairness, there was a high chance that PNR would have to further dilute holders (though I feel I went in with my eyes clearly open to this possibility and still viewed it as worth the risk, because of the quality of the assets). So far neither SLR or RMS have moved (no chance of SLR now with it's obsession with RED).

With so few options available for the mid tiers to increase their production, I am sticking to my guns.... PNR is a great (cheap) option at adding unhedged ounces.@Joelstar has pondered that RMS might look at EVNs Mungari asset, but.. at a $1b price tag, and a similar production profile, I just don't see a potential 100% premium on top of PNRs price tag (everything is for sale....).

Good luck to all holders.

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Hi Spec,

Interesting snippets from the broker report …. the release of the report ( 30 Oct ) was essentially, one could assume, loosely in parallel with the negotiations for the lithium deal ( released 10 Nov ) … the outcome of which was very positive ( and even moreso in light of the lithium crash soon after )

The report reinforces my previously posted view on not being guided by broker reports … and also a lot of assumptions and views made on HC which are based on incomplete information, poor research and personal sentiment. ( fwiw that’s why I am rarely seen on SPR thread these days )

Whilst we do have opposing views on areas of PNR I have always fully agreed with your assessment of asset value, the Norseman exploration potential and possibility of corporate action.

Thanks for the ongoing discussion and views. Expecting another interesting week in the gold space.

PNR Price at posting: 8.4¢ Sentiment: None Disclosure: Held
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2 Great analysis

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