Hi Ians The bid is worth 0.38 The vol of Entree traded is high compared to the last few months. It may be a rerating but I believe Entree will be absorbed into the Rio and or Ivanhoe ranks soon Benchmarking to the Nevada Copper price PMH sbe at 1.00. Even this is a gross undervaluation. Capstone who recently gained control of NCU at around 1.00 will be looking at the Entree bid closely
PMHs Ann Mason doubles Entrees existing Jorc equiv reserves. If we consider Ann Mason is open at depth and Blue Hills nearby has the same footprint then we add Shamrock and Blue Rose and the new USA tenements it is likely that by spending less than 10mill Entree will quadruple its Copper reserves. Plus Entree gets Sentinel and the gold projects and PEN and the cash. For Entree this is the deal of the Century Although PMH shareholders will benefit from the inevitable sharp rerating of Entree
I see the next few weeks as the last opportunity to get PMH below 0.35 as the market players return from holiday
Hot Copper contributors who are set in the stock can help by publicizing the virtues of PMH Tony Sage was emailed by a contributor before Xmas. The rest of us could also email him and brokers and analysts and other Copper Players that may help
Those still buying or hoping for price weakness will not want to engage in this strategy I have a large stake so may the bulls prevail Waiken
PMH Price at posting:
24.0¢ Sentiment: LT Buy Disclosure: Held
