copper - will it test 4000 again?, page-20

Jojo,

Don't give credence to our early hours troll, PNA have sorted themselves out well over the past 6 months, and those that have been diluted are those that have not chosen to be supportive in the SPP and rts.

No credible person could complain about dilution from GRAM at 39.5 in the same breath as valuing the share at 10 cents - then check Oct to Dec 08 posts for the trolls credibility - trolls don't need credibility.

As for cashflow of 50mm pa, something close to 4 times that looks probable based on current poc (which probably explains why 10 troll cents trades at 39 on the ASX).

Twice the poc leverage as OZL here [which I guess troll analysis might value at 20 to 30 cps??].
Less risk/less problems than EQN

Hope you are still holding - sure the extra shares reduces upside - but the bankers wanted a lot more than interest, more like a pound of flesh from closest to the heart of each shareholder from my reading of Stafford. Only the financially naive would not be happy to be unshackled from those greedy bloodsucking banks - getting outside equity at 39.5 - you've got to place a value much higher than 39.5 on PNA to even consider complaining imho.

Time to put the troll on ignore methinks,

EL