I doubt it was the production number, as they retained full year guidance for PK, and BH derisked and FY improved. They have a habit of quarterly fluctuations that even out over longer periods.
Maybe it was Inca, or maybe it wasn't the report, theres been this type of sell off recently even on green days.
Anyway on the face of public information I am happy with results, but then with BHP trading on a similar forward PE and the market typically unstinting more for the likes of PNA imo we simply have to accept these sell offs as "normal", but not as right. I expect the rebound in PNA once the weighing takes precedence again. Comparing with BHP imo we've actually got better 5 to 10 year growth prospects, and seem less likely to embark on wealth destroying acquisitions.
Perhaps there are some soveriegnty or key persons issues that are not public? Or someone caught too leveraged?
EL
PNA Price at posting:
$2.22 Sentiment: LT Buy Disclosure: Held
