two substantial sharehoder increasing holding, page-9

I am not sure on PAN's valuation at current levels.

I can understand demand to $1,80 but currently valued at $560 million.

Nickel stocks has risen 40,000t over the past 6 months but has given back 5000t in the last 2 months. I seriously can not see how this justifies PAN at current valuations.

I think the price action has more to do with Lanfranchi and Brilliant shareholders.

PAN in my opinion is grossly overvalued considering Wharehouse stocks and the spot price is trading to the same direction.